Ferrum Crescent Share Discussion Threads

[blackss] 03/7/2017 11:10

What sort of message does Merlin as project manager, upping sticks 2 weeks into the test drill send out ? why did he go ? I don't believe the spin about the new guy being
bought in because he can raise capital, surely that was why we pay JT 125k a year ?

[andrea152] 03/7/2017 10:56

Quite agree Black.

We have NEVER got to know how, or why, the 4 previous BFS partners managed to fall through, yet every time the Company miraculously "found" a new partner, in order to keep the Company (and Management and Adviser Salaries & Expense Accounts) alive. We weren't even told who the last "3rd Party" that FCR were allegedly negotiating with, actually were - which makes me sceptical as to whether any talks were actually taking place at all, or whether management were just looking for more time, in order to keep the Company alive, so that Toral drill results could get nearer in time.

I also, like you, don't think that Merlin leaving the Toral project is very good news at all. He was, and is, extremely competent, in my view, and really DID know wot he was talking about. The new guy, Myles Campion has yet to prove his abilities, in my view.

IMHO. DYOR.

[blackss] 03/7/2017 10:24

Amazing how the sell off of Moonlight for nothing has been spun as a great move for FCR and the total failure of management has been glossed over.

[andrea152] 03/7/2017 10:14

Well it's "So long and thanks for all the fish" from Moonlight !!

Probably about £35m in cash down the pan in the last 7 years too !! (as well as most of shareholder's confidence).

All down to Toral/Lago now, but I'm not putting another single penny into this until I've seen the real drilling results and know how the mine is to be funded. )If it IS to be funded !)

IMHO. DYOR.

[carbon man] 29/6/2017 07:58

Something stirring down under this morning, the seller has raised his price a little
Maybe just a chance for a turn here

[blackss] 28/6/2017 15:09

Updated the header a bit however ADVFN in their wisdom insist on putting adverts in it now....

[andrea152] 23/6/2017 13:08

Difficult to know where it goes from here, TBH, just goes to show that most of these Cos shud really b Private Cos, or Venture Cap, or Private Equity, but then they wudnt b able to raise the capital from the market wud they and they wud actually hav to answer to a bunch of Owner/Investors who actually knew wot they were talking about ?!

Catch 22.

IMHO. DYOR. GLA.

[blackss] 23/6/2017 11:50

The Elephant in the room has always been funding and its the same for all these micro cap miners. I made a comment on LSE a while back that we would need 75-£100m for a production facility and with a market cap of 2m why would anyone want to JV us, they might as well just buy the lease or FCR. I don't understand the mini hysteria over the volume of the last few days ? am i in a different share to everyone else ? the share price dropped for gods sake.....lol I blame the Corbyn culture where a loss is now seen as a win :-)

[andrea152] 23/6/2017 10:26

JT is pretty honest in that interview - and I respect him for that - but he STILL dusn't really answer the big, long-term question, which Sharetalk asked him : "how are FCR going to fund the mine at Toral IF drill results are successful" ?

If they aren't going down the Debt route (which he says they aren't), then that implies further, substantial dilution for existing shareholders & a good reason for the current BOD NOT to buy shares with their own money, at current share price levels.

Spanish Govt Loans or Grants maybe the answer going forward, or, of course, the obvious JV, but given FCR's micro-cap market cap of sub £2m, it is likely that FCR wud very much be the very junior partner , in any potential JV. It thus seems likely, that, as things stand, this is very unlikely to be a multi-bagger for shareholders, although Management will probably do alright out of it !

I wish that the above wasn't the case, but that's the way I currently see it. The only time that I wud put any more money into FCR wud b in the final placing before Toral goes into production. (IF it does, that is).By that stage FCR will probably have around 5 billion shares in issue, or more.

IMHO. DYOR. GLA.

[the sim] 22/6/2017 15:35

An upbeat interview with JT, worth a listen to:

hxxp://www.share-talk.com/share-news/justin-tooth-executive-chairman-of-fcr-aimfcr/

[andrea152] 21/6/2017 16:09

Quite agree. Didn't see anything offensive in any of those posts at all. Very weird.

Lively volume today though at 112m, so luks as though Myles and his Aussie mates are buying stock from the recent 7p Placees. Meanwhile the MM's collect £500 for every 5m trade - nice !

I hav nothing bad to say about Myle's historic CV mind you - he luks pretty Kosher.

IMHO. ATB

[blackss] 21/6/2017 12:10

I don't know why you bother with the LSE site andrea,half the posts this morning have been wiped out already, complete waste of time trying to post any reasoned or thought out posts unless you are pumping it up, i presume JT knows someone.

It will be interesting to see what the market makes of today's news because for all the spin, its the markets response that matters...

[blackss] 21/6/2017 10:56

Maybe i am a bit negative but if you gave me a list of people in the company and said who would you rather keep then I would have said Merlin was a major asset.
Maybe we should be looking at this with a finance head on and not a mining head. getting finance, lifting the share price and bailing out rather than the long term.

[andrea152] 21/6/2017 10:15

Well , they've replaced one Geologist with another Economic Geologist, and Former Fund Manager, so that looks pretty sensible.

Timing duz look a little suspect however.

IMHO. DYOR. GLA.

[blackss] 21/6/2017 08:37

Oh great, So now Merlin the only guy who actually knew what was what and the project manager for Toral leaves 2 weeks into the drill program.

[tilly99] 16/6/2017 11:49

No wonder none of the board will invest Placing upon placing at ever decreasing prices Let's just give them dough for their wages Farce complete farce and I will never trust JT againHe has let down all shareholders with his promises If he's that bullish he would be a decent equity holder

[andrea152] 16/6/2017 11:20

Agree completely with all of the above.

I really cant see how they are going to fund the construction of a Zinc mine, even if the drill results ARE good, with a £2m mkt cap valuation & 2.5 billion shares in issue.

Unless, of course, the Spanish Govt are willing to lend them some money to do it, or give them some Grants, in order to create some much-needed jobs in NW Spain ?

I just don't know.

IMHO. DYOR. GLA.

[tilly99] 15/6/2017 18:42

Oh and looooove Vlty

[tilly99] 15/6/2017 18:35

Totally agree and that's why I sold 20pct of my holding and will sell into any strength there I must've been flush with cash as I broke my no investing in holes in the ground mantraI did sell quite a few at 0.3 but that only writes me down to 0.15Really not impressed with him and have told him soHe should take his salary in shares of he really believes what he saysHe's just another b llsh tter..shame on himI thought v odd to raise just before moonlight news..should've followed my gutAt least doing v well with spsy where I have 7pct and have bought into redhall in a big way this week at 10p as think will double v quickly Fcr just a piece of Cr p ; (

[blackss] 15/6/2017 18:25

Tilly
You were right about this mess as well, I would love to know what JT said to you to get you to buy all those millions in the .2 placing.

[blackss] 15/6/2017 18:23

Tilly
Well done, despite what you might think of me i am glad you sold at a good price, I just find it very difficult to separate Daley from Elektron, they are the same thing as far as i am concerned. Daley will never stand down Elektron is Daley.

Sorry for off topic re: FCR.

[tilly99] 15/6/2017 18:08

Freudian slip...daley!! I never typed that!!BlackssI proved u wrong as u said can't sell a lump unless at a big discount..I sold a lump at a big premium!! Lol

[tilly99] 15/6/2017 17:20

Management have no interest in investing I wondered why they raised money prior to supposed good news on moonlightWe now know whyAnd we will know soon why they were so desperate to raise money recently If JT was so bullish he would be taking his salary in sharesHe's a bloody disgrace and I will be telling him