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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Finders Res. | FND | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 25.25 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 25.25 | 25.25 |
| Top Posts |
|---|
Posted at 24/11/2016 23:50 by davegk Post from Hot Copper 17-11-16hxxp://hotcopper.com In regards to FND they are (supposedly) at the end of a major capex spend and now stand on the brink of producing 28,000 tons of copper per annum. Depending on whether you listen to Euroz or Argonaut, both of whom have assessed the project, all in costs should be $1.30 or $1.50 per pound. So at current Cu prices lets make it easy and say FND can make a margin of 1 buck per pound after all costs. There are 2200 pounds in a ton 28,000 x 2,200 = 61.6 million pounds per year and at 1 buck a pound that means the project will make 61.6 mill bucks per annum at current copper prices. However FND only owns 72% of the project BUT these numbers are in USD. Again let's make it easy and say that 1 USD = .75 AUD. Therefore FND's share in AUD will be: 72/75 x 61.6 mill = approx $59.1 mill AUD At the moment FND's market cap, even after the dilution of the recent cap raise is approx $120 mill. So if FND can achieve what they say they can then annual earnings, at current Cu prices, will be equal to half the value of the company at this time. By anyone's calculation that is not overvalued and in fact is way undervalued.... however, for the moment, I see a few factors holding it back a bit. 1. They have not yet achieved steady state name plate. Brokers envisaged this would have been achieved earlier in the year and we still aren't there yet. 2. Yes the CR will be a bit of a weight. No matter how good the project is there will always be some "sophisticated investors" (ha freaking ha) that will partake of the CR and flip the shares for 25% profit asap. 3. There is about 100 mill of capex debt to be repaid that should be able to be cleared in under 2 years at current Cu prices assuming predicted operating costs and levels are achieved. 4. The timing of the CR makes me nervous as it all seemed too bizarre for my liking. Why would you dilute at all let alone at these low levels if you are on the cusp of raking in 60 mill pa?? Surely even with the debt that needs repaying a bit of cash could be held back to use in increasing the projects value. My experience is that when something doesn't make sense based on what we know it usually means there is something that we don't yet know. I hope I am wrong on that point but at this stage the seemingly illogical CR must be put down as a risk factor. 5. They do need to increase the mine life beyond the current predicted 7 years. Prospects for this are promising on satellite drill targets but the sooner they get a drill in the ground and get some good hits the better. So in summary there is risk but if you want multibagging upside you usually need to have your eyes open to the risks. That said if they can even just get the plant running at steady state nameplate and if Cu can maintain the current price then this should at least double easy peasy. And as debt decreases and if they can increase the resource size it should multibag.....all in my opinion. |
Posted at 02/12/2010 13:17 by engelo jonny: You're a bit early. But wait a minute, what time is that in Bucharest??OT I know you are an occasional oil investor. Please take a look at CAD. Interesting story, valued at cash and ready to roll any day imo. |
Posted at 06/10/2010 15:19 by jonny flame Hi affc21, good question!Can anyone answer this? FND are listed on the ASX and AIM so doesn't this automatically mean that they are ISAable? You could always try contacting the company, management are investor friendly and have always replied to my emails. Best regards, JF P.S nice tick up, I'm beginning to feel that FND may start to have a more serious move one of these days. |
Posted at 06/10/2010 08:39 by jonny flame Finders shareholders support capital raising Russell Fountain, Finders Chairman, said: "The Board of Finders is delighted at the support shareholders have shown the company and the capital raising initiative. The funds will be extremely important to the company. "The price of Finders shares has traded well above the capital raising price since it was announced, most recently at around A$0.37 per share. I believe this shows that the market is beginning to appreciate the future of the company and its long term prospects. "Finders is one of very few emerging copper plays for Australian investors. The robust economics underpinning our Wetar project, combined with the experience of our management and the support of the local Indonesian community, auger well for a healthy and profitable future for the Company," he said. |
Posted at 05/10/2010 10:33 by andy Off topic.A date for your diaries! -------------------- Monday November the 8th. London Gold and Silver Summit. Crown Plaza Hotel, Victoria, London. All day FREE event - Featuring AIM, Canadian, and Australian listed gold and silver companies. Keynote speakers include Silver bull David Morgan, gold expert James Turk, and Ben Davies, CEO of Hinde Capital. Free registration - Doors open 08.30 - Presentations commence 09.30. Lunch and all refreshements are provided. This is a terrific opportunity to meet the companies themselves, industry professionals, and network with fellow private investors in a superb setting. The Crown Plaza Hotel is located to the side of Victoria Railway Station, a one minute walk from the front of the station. |
Posted at 25/9/2010 07:48 by jonny flame I've added a gold chart to the header and moved things around a bit, I hope it's not too much scrolling. I had a read of the Fosters June note again this morning;.."We view FND as considerably undervalued on the current Wetar mine plan alone and believe near mine exploration and the Ojolali gold project are effectively free upside options for investors". ..."In our view, FND's Ojolali project offers investors considerable upside, especially given its locale in a world class mineral belt". |
Posted at 24/9/2010 11:37 by jonny flame Picked up another 10,000 shares @ 21.88p.Some of the stocks in my portfolio are looking a bit over bought, with the exception of FND (IMHO), which is why I have continued to add. Looking forward to further updates on Ojolali - the gold/silver project:). I'll add a gold chart into the header later, that way any new investors will see that we have some exposure to gold :) Worth reading this update again; ...."We believe that we are looking at the very top of a large epithermal system, with great potential for additional discoveries at depth". |
Posted at 13/8/2010 02:42 by coffeelito Just had telephone chat with a chap in the Finders finance department. Took some notes as follows:re. "forced" disclosure on fundraising: there is a deficiency in the asx form which does not allow you to take into account expected revenues, just focuses on costs .. re. permits: no suggestion at all that we wont get our permits, its a question of when not if .. but obviously things work differently in indonesia to a western country .. there's always speculation .. we 100% confident that we will get our permit re. legal threat: sometimes u dont have the choice of when u put out an announcement. we think their claim is totally baseless but the rules are that we have to tell the market. Are a lot of things behind it that publicly we cannot talk about. they invested $5m, even in worst case scenario and we had to pay all of that it would still only have minimal impact on share price Action on australian market today shows investors here are more sanguine. re. Ojolali find analysis, still no results: indonesia not the quickest place, maybe we should have said would take more than 2 weeks, am aware that it creates expectations .. re. fundraising: again, things dont move as quickly as we all hope. getting all the costings, quotes from contractors in indonesia etc. re. whether things are behind schedule: permits and fundraising issues have caused some delay .. in summary: things have not changed significantly, the delays are disappointing but beyond our control. chris farmer the md lives there and knows how to deal with the indonesian government. PS - As I write, Finders share price in Aus. is down 4.6% with almost 100,000 shares traded. |
Posted at 12/8/2010 09:12 by someuwin Possible Claim by Tennant Metals Pty Ltd and MIT Nominees Pty Ltd TIDMFND For Release: 12 August 2010 FINDERS RESOURCES LIMITED Possible Claim by Tennant Metals Pty Ltd and MIT Nominees Pty Ltd Finders Resources (the Company) has been advised that possible legal claims may be instigated by two minority shareholders in the Company. The Company believes the claims are without foundation and, if legal proceedings commence, they have little chance of success. The claims have been made by Tennant Metals Pty Ltd (Tennant) and MIT Nominees Pty Ltd (Meridian) in relation to certain historic reports, announcements and presentations made by the Company. Background In early 2008, the Company placed an aggregate of 5,165,289 shares at $1.10 per share to Tennant and Meridian as part of a financing to fund construction of the Wetar Copper Project's Demonstration Plant (the Project). Tennant and Meridian conducted their own due diligence as sophisticated equity investors. This financing also included a secured loan agreement of US$5 million from Tennant and Meridian (which was repaid in September 2009). Possible claim Tennant and Meridian have now indicated that they intend to commence legal proceedings against the Company and /or its Directors based on the claim that certain historic reports, announcements and presentations made by the Company in relation to the timing and costs of the Project and its commercial development were misleading or deceptive. Tennant and Meridian are seeking to recoup their alleged loss on their initial capital investment, despite remaining the registered holders of substantially all of the shares they subscribed for in 2008. In essence, the basis of these claims is that, given the final cost and timing of delivery of the now successful Project and its expected commercial development, the Company could not at the time have had a reasonable basis for its various announcements. The Company notes that Tennant and Meridian received detailed and on-going information flow in respect of the Project during the course of the loan financing arrangements. After an external legal review of material underpinning its past announcements and after receiving legal advice from the Company's legal advisers, the Company has rejected the allegations and is confident that if any proceedings are commenced by Meridian and Tennant they would have little chance of success. The Company has rejected Tennant and Meridian's allegations. Should any legal proceedings commence, the Company believes that the legal costs and any potential liability can be managed by the Company in the ordinary course of business and, to the extent relevant, within its directors and officers' liability insurance arrangements. The Company is continuing with its expansion program for the Project, which is estimated will increase copper cathode production to 23,000 tonnes per annum. The financing discussions for the expansion are now at an advanced stage. The Company believes any legal proceedings would be unlikely to materially impact the operational and financial management of the Company. |
Posted at 22/7/2010 20:59 by jonny flame The website is much better! Good find Steve...."We view FND as considerably undervalued on the current Wetar mine plan alone and believe near mine exploration and the Ojolali gold project are effectively free upside options for investors". |
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