Finders Resources Share Discussion Threads

[chipperfrd] 13/10/2009 12:05

Blame me :-(

All I wanted was a small top-up and after 3 attempts I finally managed to get them at 23p - hence the move up.

There is a dreadful shortage of stock!
Chip

[someuwin] 13/10/2009 11:57

Nice move up.

[chipperfrd] 13/10/2009 11:27

Yep Bert, due any day now.

[bertberr] 13/10/2009 10:43

well, 5 weeks from 8th Sep is...today...

[bertberr] 12/10/2009 10:52

I've been thinking about that 4.1m trade, and are still of the opinion that it is was a buy. As I said the bid has rarely been above 18p for some months now (excluding the spike in August), and looking at other large trades in other companies, very large trades tends to go through at a % below the 'real' bid / offer, so in the case of a worked buy for 4.1m, 18.5p would seem about right to me (buyer would obviously be looking to buy well below quoted offer), whereas I'd be very surprised if the MM's would be happy taking that number above bid unless they know something we don't...

18.65p real time bid now...FS on the way this week?

[jonny flame] 11/10/2009 18:50

The below will be very good news for FND, if it can get the Ojolali gold mine up and running in the next 12-24 months;



By Garry White
Published: 11:06PM BST 10 Oct 2009

"Analysts at Edison Investment Research have predicted that the price of gold price could hit $1,879 (£1,185) an ounce by 2013, driven by the aggressive monetary policy of central banks around the world and a chronic shortage of the precious metal".....

[bertberr] 09/10/2009 16:03

Hi JF, yes still very much in BAO, wouldn't want to be out of that one, though I did take some profit at 15.25, very low average even with top-ups along the way. Spoke to a rather non-committal chap at Astaire this morning who, reluctantly, confirmed that they will shortly be "initiating coverge" of BAO - so expect a new brokers note before too long.

Happy to keep holding here, got just over 15K extra shares in the recent offer so my average is now a little more acceptable!

[chipperfrd] 09/10/2009 15:11

I beg to differ! Today's announcement only related to 146k shares being issued to cover interest on a convertible loan.

The large trade shown today could have been in the system for a very long time. I don't remember the maximum time allowed but it can certainly be many days when a trade is so far greater than the nms.

Probably the most significant point is the static nature of the market price and the spread. I would tend to the view that the price has been affectively set for many days because of this trade.
Chip

[p3dr036] 09/10/2009 14:09

That has to be a SELL bertberr rather than a straight BUY.
It would be nice if it was a BUY but it's so far below mid price of 19.5p that I doubt it was.
I have had a limit buy first at 20.5p then at 21p, for days now without a sniff.
Probably something to do with the new placing shares as JF suggests.

[jonny flame] 09/10/2009 11:08

Hi bertberr - is it not just to do with the placement of the new shares? See todays RNS?

Are you still holding BAO?

[bertberr] 09/10/2009 10:34

I'm assuming that 4.1m is a buy at 18.5p, since even small sells were only making 17-18p over the last few days.

As a buy, that bodes well...

[chipperfrd] 08/10/2009 18:10

Worth noting that the Olympic Dam problem could well impact on global copper prices:


Timing could well work in FND's favour.
Chip

[jonny flame] 08/10/2009 16:05

Jim Rogers, Says Gold Could Hit $2,000 Over Next Decade:



00:00 Prospects for $2,000 an ounce gold
02:30 Owning "real assets" because of inflation
03:50 "Propping up zombies doesn't work."
04:35 Outlook for oil, Japanese yen; agriculture

Running time 11:17

Philip Manduca also sees gold surpassing it's inflation adjusted highs and going to $2,000 an ounce;

ECU's Manduca Sees Gold Price Rising to $2000 by 2010:

[jonny flame] 08/10/2009 15:58

Some videos for you guys to watch! I have added them into the header.

Finders Resources Russell Fountain on Sky Business News Jul 2009



Chris Farmer, Managing Director of Finders Resources talks to Proactiveinvestors



SX EW PLANT PRESENTATION - (no audio on this one)

[chipperfrd] 07/10/2009 16:31

JF,

There has also been a JV announced for DME with a Japanese company over their secondary Ni/pgm deposit. That is why the share price has reacted today (IMO).
Chip

[jonny flame] 07/10/2009 16:13

Interesting to compare FND to DME;

FND is currently valued at around £36m, DME at £40m although thats increased 16% today, so £46.5m

Once the full BFS is released from FND we can compare it to DME's I reckon FND will stack up very competitively in comparison to DME (and have said this previously also remember we are already producing copper at the demo plant).....and look at the reaction the market has given DME today!

6 October 2009

BOSETO COPPER PROJECT BFS EcONOMICS UPDATE

Discovery Metals Limited ('Discovery Metals' or 'Company') (ASX/BSE:
'DML', AIM: 'DME') is pleased to report an update on the Bankable
Feasibility Study ('BFS') for its Boseto Copper Project.

* The Bankable Feasibility Study ('BFS') remains on track
for completion in the first quarter of 2010.
* Final BFS Resource Model expected January 2010.
* Updated financial evaluation of the Boseto Copper Project
shows:
o Operating costs continue to be in the middle of the copper
producer costs curve, with the updated 10 year average cost of
US$1.04/lb (January 2009 - US$1.06/lb);
o Capital costs have been increased to US$150 million (January
2009 - US$131 million) based on contingency for capital component
price changes;
o Overall project economics have improved despite including
additional capital contingency and exploration expenditure, with the
break even copper price at which the project provides a 10%
discounted cash flow rate of return now being less than US$1.53/lb;
o Net Present Values ranging from US$116 million at a US$2.00/lb
copper price to US$426 million at a US$4.00/lb copper price;
o Internal Rates of Return ranging from 18% at a US$2.00/lb copper
price to 57% at a US$4.00/lb copper price; and
o Payback is expected within 2 years of production commencing.
* Annual production from the Boseto copper concentrator is
planned to average approximately 25,000 tonnes of copper and nearly
700,000 ounces of silver contained in a high grade concentrate.
Discovery Metals' Managing Director, Brad Sampson said: 'We remain
very bullish about the prospects for our Boseto Copper Project
satisfying a very small part of the massive copper supply deficit
that is widely forecast by commodity experts in the years beyond
2011. Market fundamentals indicate support for relatively high copper
prices from 2010 onwards.'
'The BFS is progressing well and remains on track for completion in
March 2010. Importantly, the extensive ongoing feasibility work has
resulted in a slight decrease in the estimated cash operating costs
to an average US$1.04/lb. Whilst we do not believe there has been
significant movement in capital costs this year, our capital
estimates will not be completed for a few months and therefore we
have prudently included a US$20 million contingency.'

[bertberr] 06/10/2009 16:13

18.25p live bid on 10K with selftrade - haven't seen that for a while, spread still crazy though. Could well be a small lift now leading up to DFS, which should be with us over the next week to 10 days...

[someuwin] 06/10/2009 13:05

P3dr036, I just put in another limit buy at 20.5p - see if we have any luck.

[jonny flame] 06/10/2009 11:07

Hi P3dr036 - let us know on here if you do manage to buy in at that price.

[p3dr036] 06/10/2009 09:23

Just lodged a limit buy at 20.5p, valid for 7 days to see if this 17/22p spread is "shiftable"!

[p3dr036] 05/10/2009 23:10

Still waiting for the spread to narrow down from its ridiculous 22%!! No wonder no one is either buying or selling.

Ho hum!!

[chipperfrd] 05/10/2009 19:48

JF,

The Resource Capital holding was listed on 25th September. Looks like someone at RCF forgot to update the market about their last additions and the ASX may well have required FND to clarify this holding.
Chip

[jonny flame] 05/10/2009 17:19

Hello baht,

Firstly, if I can say one thing, its read and listen to everything that Jim Rogers says or writes, and do it now, he understands the massive shift that's going on between the West and the East. A very good place to start would be here;





Purchasing the above books will possibly be the single most profitable investment in your life.

China has an insatiable appetite for natural resources, they are the number 1 consumer of copper, steel, iron ore, soybeans, and the 2nd largest consumer of oil and energy products. If there economy is going to continue to grow at such a rapid rate they need all the natural resources they can get there hands on to feed the economy.

Looking at FND, I noticed today that the largest shareholder has increased their stake to 10.5% from 7.84% for some reason this was not released in an RNS on the LSE but was released on the ASX. Over 65% of shares are now held with institutions. Anyway, China likes significant resources or near term/producing assets, as such FND would look to be an attractive bolt on acquisition for a Chinese copper company that is looking to increase its production via overseas acquisitions. You only have to look at WTI to see a recent investment by a Chinese company in an overseas copper company. Personally I would not mind seeing an offer for FND but at the end of 2010 or 2011, not now. If one did come in now my votes would be to repel any such offer as I'm here for long term value.

Keep an eye on GKP and CHL over the coming weeks/months to see how the grand scheme of energy acquisitions by global powers is being played out.

I hope the above is not to 'preachy', I'm just very passionate about my natural resource stocks :)

All the best,
JF