Ferrum Crescent Share Discussion Threads

[maverick247] 20/3/2018 15:29

Always see sellers in placing news then it bounces sad some get drawn in to such a loss

[spec7] 20/3/2018 13:16

Well i wasnt far off with 50% dilution, not that it really matters now. The share price is immaterial at these prices. The important thing is they now have the money to proceed with the scoping and the necissery geology work that goes with it. Will any of us ever see a return ? pretty unlikely but stranger things have happened :0)

[maverick247] 20/3/2018 13:14

Good to see they have raised funds to get a PEA done zinc is hot right now. Not great for existing shareholders but could create a nice buy op

[spec7] 17/3/2018 08:14

I don't see any problem raising funds however at what cost to shareholders. 25% or 50% dilution ? at .05?
Unless they come up with some sort of credible plan yesterday this is dead IMHO. The silence from management is deafening.

[denzilbricks] 17/3/2018 06:42

Going Concern (Cut and pasted from Interim report)
As at 31 December 2017, the Group had working capital of $243,938 (current assets less current liabilities) with
cash on hand of $364,404 and a net loss of $712,548. The Group also has exploration expenditure
commitments. The operating commitments of the Group will require further funding in the next twelve months.

The ability of the Group to continue as a going concern is principally dependent upon its ability to raise further
funds as required from the issue of equity. These conditions indicate a material uncertainty that may cast
significant doubt about the ability of the Group to continue as a going concern and, therefore, it may be unable
to realise its assets and discharge its liabilities in the normal course of business.
The financial statements have been prepared on the basis the Group will continue to meet their commitments
and can therefore continue normal business activities and realise its assets and settle liabilities in the normal
course of business.
In arriving at this position, the Directors are confident of the ability of the Group to raise capital and are reviewing
other funding alternatives including:
• managing the Company’s working capital requirements; and
• raising additional funds via debt if required.
The Directors have reasonable grounds to believe that they will be able to complete any required future capital
raising and achieve any other one of the above funding alternatives.

[sleveen] 16/3/2018 17:27

Another placing due soon.

$221k net assets but with $700k cash burn per 6 months means they are by now running on vapour.

[andrea152] 16/3/2018 10:55

Agree with every word U say Spec7. All very true. And I'm a VERY long term FCR shareholder, so have seen the stinking lot.

At the end of the day, I think that these things all come down to PEOPLE - i.e. have they got it, or haven't they ? I'm not sure that LR or MC match up in this respect, although CB DID sell Kirawa for a decent some of money, although that, to date, has been his only real success. Even there, HE was the main beneficiary as all L/T shareholders had long been diluted out of sight ! I think he may use FCR as a vehicle to reverse into one of his other AIM listed projects - as you imply above. Perhaps that's why they are keeping the JSE listing open - as there is no logical need for it now ?

One for the "Ultra high risk merchants" I think - but you wudnt bet your Granny's Farm on it, as some people seem to have done !!

IMHO. DYOR. GLA.

[spec7] 14/3/2018 11:59

I agree about CB however this really went to the wall with the end of Moonlight. Anything more is a bonus for long term holders as we had basically lost everything anyway. It's interesting to see exactly the same scenario being played out again here as we saw with Moonlight 7 years ago but now with CB instead of EN. world class resources :) china crying out for ore, BFS "supposedly" under way, take offs signed, government backing for infrastructure, excellent test drill results...
It really means nothing unless you have funding and my guess is if this was half of what it was supposed to be a major would have bought it for £350k before we did. Its not like this was any great secret, its been mined since the Roman times...lol

CB has bought into this for reasons only known to himself and frankly they could be at worse, nothing to do with the asset at all. We simply do not know. what i do know is that no one in this company apart from CB has invested a single penny even at all time low share price which really tells you all you need to know.
Sorry but last one out please turn off the lights.

[andrea152] 14/3/2018 10:49

No, I think the metals Beneficiation (i.e. Splitting) is OK, and yes, there really are some options O/S at 0.65p, as well as 0.165p, which expire shortly.

problem here, is that the previous 3 sets of management have really screwed the whole thing up, because the tried to run it on a shoestring, had no decent Institutional Backers and even when they changed mineral, from Iron to Zinc/Lead, the new CEO they appointed was not a Geologist (or much of a Financier as it turned out !) and the whole thing got *ocked-up again !

Consequently, no-one will lend them any more money, even in Exchange for more worthless paper, except for Colin Bird, who, as previous experience shows, often has his own Agenda, for his own personal and often selfish reasons.

It's a shame really, as the Asset looks very good, but they just need one really good cornerstone Investor, with very deep pockets and a bit of patience, to see them through. it's no good going to the Death-Spiral Debt-Funding crew or the Banks , as they are about as effective as a Kleenex in Salisbury, quite frankly.

Lets hope LR, MC & CB manage to find such a person.

IMHO. DYOR. GLA.

[uncle john] 13/3/2018 10:36

I have just looked at the Website, some knowledgeable people have walked away from this including Lundin. I wonder why?
Are we sure that the metals separate easily? Sometimes one will 'lock' and go out with the waste so one only gets 2 of 3.
Not something I understand but I was told about this with another mine in Mexico that was looking for money.
Are there really options or warrants at 0.65p?

[andrea152] 08/3/2018 11:11

Yes, and don't forget Tom Revy, earning Aus $ 250,000 p.a. for 3 years, from Shareholder funds, for no tangible result.

Nice work if you can get it !!

When I visited the site 18 months ago, you could tell management had a completely different attitude to shareholders. It was like " shareholders are just there to keep us in a job, so we can propound our terribly intellectual geological models, then perhaps think about finding someone who might buy the asset from us". I believed them then, but they turned out to be just another bunch of total BS Merchants, like most other BOD's on AIM.

IMHO. DYOR. GLA.

[spec7] 06/3/2018 08:01

Ha ha yes you are right
Money doesnt appear out of thin air, if someone is making it, someone else is losing it. Ed Nealon, Justin tooth and Colin Bird all made money while the shareholders lost it. Pretty par for the course at FCR

[blackss] 05/3/2018 18:33

Nothing changes Spec, a 10% drop today brought about by dithering management who should have distanced themselves from BS ages ago. Everyone knew what their game was from the start and it was never a good sign when management signed them up. will FCR ever get a management on the ball and on the side of the PI ? I doubt it, it seems more and more that the management's way of making money conflicts with their shareholders way of making money, an AIM company where both make money these days is a real rarity. I sold out at .012 and had planned to get back in at .07 however i am no longer in a rush :-(

[spec7] 05/3/2018 12:03

You have to wonder where Justin Tooth went ?
I mean he was promising to buy in the market on the monday and gone by wednesday...
I agree Andrea, this is my last holding in the AIM and i know BlackSS is also out of the AIM completely now. Unfortunately there are many waiting to take our place who will have to learn the hard way.
The sad thing is when i started the AIM was great opportunity to invest in up and coming businesses, it was a longer term investment but could do well. Now its just a pump and dump market with the same directors moving round from Company to Company milking it for what they can. Forums like LSE and iii are plagued by punters plugging things like this for no reason other than to entice people in, crowds on FB and Twitter piling in and piling out to make a quick buck. Instead of investing in new companies its buy Tuesday, rns wednesday, sell thursday..

[andrea152] 05/3/2018 10:53

Have people seem the further revelations on Beaufort ? They have been accused of Fraud & Money Laundering in the US and defrauding US investors of $50m in Pump & Dump schemes. One can only speculate as to what their UK Office was upto as well ?

AIM really does stink. Most of the Companies listed on it are dire and their Brokers equally so , it seems ! Why would any investor in their right mind buy an AIM-Listed Company ?

IMHO DYOR. GLA.

[spec7] 05/3/2018 10:29

FCR, never fails to disappoint. the trouble is AIM investors are wise now, its taken an age but they look ahead at financing and options and put 2 and 2 together, If CB has options at .06.5p then that's where the share price will go.
The reality is of course people will only make money here if there is a game changing deal. It's not going to creep up steadily, there is no reason why it should, it will be boom or bust eventually i would think in the next 12 months.

[spec7] 02/3/2018 12:12

They didnt have a great reputation..

[mikebolle1] 02/3/2018 11:34

I think Colin is using them in all his companies.

[andrea152] 02/3/2018 11:03

FCR's Joint Broker, Beaufort Secs ,went Bust today.

The FCA shut them down.

That just leaves Peterhouse, I suppose and cud complicate the cash raise ?

IMHO. DYOR. GLA.

[mikebolle1] 28/2/2018 12:05

This post appears on iii, re fcr. I think its a good summary of what was discussed here before:

"The Canadian guideline NI 43-101 had inferred and indicated resources attached to it.
In terms of confidence levels

Inferred is the lowest
Indicated is the next best
Measured is better still.

Reserves can only be stacked up against indicated and measured resources.

iMO the recent JORC was massive news. The market did not react as many would have expected including me. The reason IMO is because we now have the Australian JORC compliant resource estimate that puts all our ore tonnage into the inferred category. Even though it's significantly 'bigger' than the NI 43-101 and even though it now has a silver credit to its name - the point is the market does not give much value to inferred resources.

For the market to apply an increasing multiple the resource needs to have further work performed on it that moves it from inferred to indicated and measured etc. These studies - scoping, pre-feasibility (PFS), feasibility, then Banking Feasibility Study (BFS) take time and money which is where Colin Bird presumably comes in - and potential other investors.

With hindsight had the resource kept an element of indicated resources (some 4m tonnes on the NI 43-101) then the market might have reacted differently.

Comparing FCR's tonnage with other companies tonnage is a useful comparison as it shows what might be, but we always need to be aware of the fact that resource categories, tonnage and grade (and grade cutoff) are a key determining factor. The rest - location, political environment etc are also very important but you need the asset first!

We now need to BOD to help us understand how they will move us along the resource curve to get us moving to indicated and measured categories. Without this the remaining potential along strike (which is significant after all ) will remain a nice to have but also have zero value attached to it.

If the steps are explained properly, and the funding is slotted into place, then this 'world class asset' might just have legs to get us to the point where it is sold on for a decent chunk of cash. I would like to see FCR mine it, but realistically a share in the asset is the best we will get - though that would be a company changer for FCR in itself and would reduce the risk. Given the share price is rock bottom and has been ever since the moonlight project was kicked into touch, I believe there is large upside, but the BOD need to show us the way first before investors improve sentiment."

[spec7] 27/2/2018 11:30

More to the point they tell the whole world its undervalued ands still dont buy ;-) do they LR/MC

[denzilbricks] 27/2/2018 10:23

I do think the value is in the Asset ...this asset however is valued by the market and ultimately is shown in the share price The FCR BOD tell the whole world Toral is undervalued and then allow it to slide and take no corrective action whatsoever...pathetic management team IMO.

[andrea152] 27/2/2018 10:20

Yep Tilly, there is never any revenue stream, and if it proves to be worth something, it's the "Big Boys" who clear up, in the end at the expense of L/T Shareholders , who have merely funded the BOD's lifestyle, in the interim period.

All in all, a "Nil sum game" - for Ordinary shareholders that is !

I wonder what desultory level the next placing will be at ?

IMHO. DYOR. GLA.

[tilly99] 27/2/2018 08:53

I also sold most of my holding at 0.12 taken a big loss..luckily I sold a lump of ekt at 28p yday which has eased the pain here Spsy and ekt my biggest holdings still but hopefully out of ekt soon..sorry o/tI won't be looking to buy back my fcr as have now learnt my expensive lesson of staying away from miners(junior)Good luck all