Finders Resources Share Discussion Threads

[jonny flame] 28/1/2010 06:26

USGS MINERAL COMMODITY SUMMARIES 2010

[cyprussteve] 26/1/2010 07:43

Thanks Jonny - but, guys - please call me Steve - I do not recall the vicar saying " I christen this child Cyprus Steve" :):)

[jonny flame] 26/1/2010 05:51

CyprusSteve - the demo plant was generating income as soon as it was in production, so it's been generating income for almost a year now. At the current copper price it's generating revenue (before tax) of around USD 1m a month. As a rough guide, 5tpd = 150 tpm times the copper price.
Regards, JF

[cyprussteve] 25/1/2010 18:21

With news due on Ojali late Jan / early Feb, plus the quarterly report at end of January, we could see some sharp upwards movement here I think.
The spread is still a deterrent to many, I think - but, that is because the share is so thinly traded, and I believe will change as it becomes more liquid.
Still possible at present to buy well below the offer price.
Jonny - I am sure you know this - and I am being lazy by asking you, but, when is it that they will actully start generating income from their demo plant ?
Ciao
Steve

[jonny flame] 25/1/2010 17:00

Some info about Straits;

[jonny flame] 25/1/2010 11:08

So Straits Resources, FND's largest shareholder have A$261 million and are on the look out for acquisition opportunities. Interesting.



... Straits also sold the Whim Creek SX-EW plant to Finders Resources Ltd in a scrip deal that lifted Straits' stake in Finders to 10.06 per cent.

Straits in August booked a full year net loss of $42.1 million after impairments and said it would pursue acquisition opportunities and re-focus on core assets, having sold down of its interest in its coal mining arm to Thailand's PTT Group.

It had cash of $261 million at the end of December.

[jonny flame] 22/1/2010 18:32

Yes Steve, MARL still very much a great stock to hold for 2010 and beyond (in my humble opinion), should be some RNS's due soon on there various projects. I'll take a look at your summary now...

[cyprussteve] 22/1/2010 17:48

I agree, Chip - Jonny is a shrewd cookie, and I have benefited from much of his research - I also wish I had possessed the foresight to have started my pension fund when I was a young man, not the ageing geriatric I am today !!!
It was Jonny who first alerted me to MARL a year ago - and which has done very well for me.
I still believe that it has a great deal further to go - and I have made a summary posting detailing why I think that on the MARL board - posting 1743.
I believe Jonny also has high hopes for MARL this year.
Best wishes to all,
Steve

[jonny flame] 22/1/2010 17:00

Thanks chip, I'm learning from the likes of yourself, Cyprussteve et al (which I appreciate). I also read a fair amount and study the likes of Jim Rogers, so I'm gradually picking things up.
Have a great weekend all!

[chipperfrd] 22/1/2010 16:26

JF,
I wish I had been as 'switched on' as yourself in my early 30's ;-)

Still, at least my kids will benefit!

[jonny flame] 22/1/2010 16:23

Picked up £500 worth @ 21p, all I could afford at the moment. Long term buy, so happy to put these away for a few years and hold as my pension. I'm in my early 30's so have plenty of time to wait for my investment to grow.
Also bought some AAAM & KLG.

[chipperfrd] 22/1/2010 15:26

H,

No, I tend to look upon these market 'swoons' as an opportunity to increase holdings (selectively of course :-)). So I have no interest in selling a stock poised to increase it's earnings.
Chip

[hectorp] 22/1/2010 15:18

chip
In your last paragraph above you are sounding rather like me for a change.. but I don't expect the drift will lead you to selling.
We need to keep 2011 earnings in mind... that's keeping me from trading out of them, and having to buy back at some future time.

[chipperfrd] 22/1/2010 14:25

leapinn,

I agree about the 'caught in the flow'! I think there is also a degree of bearishness due to the Chinese tightening which the market is taking as negative for commodities. But we have seen and heard all this before haven't we!

Taking a longer-term view on FND prospects I am calculating a P/E of 1.3 on CY2011 forward earnings - but I have little faith in the 'market' looking much beyond today's opening on the DOW ;~[
Chip

[leapinn] 22/1/2010 13:41

chip - there appears to have been a general sell-off on the news plus miners have been weak for a few days - not FND specific but caught in the flow.....

[chipperfrd] 22/1/2010 13:09

CyprusSteve,

I remain bullish about their prospects on phase 1 expansion at Wetar alone. So yes, I believe it is a buying opportunity on fundamentals.

Their phase 2 capex can probably wait for 12 months so I do not really get 'leapinn's' point about the banks having much relevance to FND.
Chip

[leapinn] 22/1/2010 12:54

Plus US squeeze on bank lending powers (perhaps per Mr Obama)

[cyprussteve] 22/1/2010 12:50

I think the large drop today, based on only one small sell at present, is entirely due to equalising the share price with the Aus market, as previously, in currency exchange terms, we were priced a fair bit above the share price in Aus, and, if I am doing my sums right, now puts us on parity with Aus - with newsflow due, it should be a buying opportunity at this price, I think.
Any views ??
Regards
Steve

[cyprussteve] 21/1/2010 07:56

Ref Ojolali RNS dated 4-12-09 , "The overall diamond drilling program is expected to take about three months to complete, with initial results available around the end of January."
In addition, last year the Company issued its quarterly report on 30-01-09.
Looks like we should have several RNS's in the near future.
Regards
Steve

[goldrush] 20/1/2010 18:44

JF.... Yep Looking good and any sustained buying could move this a long way upwards.As we agreed those months ago gentle top ups to build your position make sense.

g

[hectorp] 20/1/2010 18:12

Bring on Wetar...
H.

[jonny flame] 19/1/2010 09:17

Looks like we could have a buyer picking up blocks of 20,000 odd shares at a time. Any views?

[someuwin] 18/1/2010 10:54

Doesn't take much buying to move it up.

[jonny flame] 16/1/2010 10:26

Agreed Chip! Although Finders do see Ojolali as there growth prospect. To quote Dr Russell Fountain "we see Ojolali as the firm growth path for the company".

[chipperfrd] 16/1/2010 10:08

Ojolali may be an interesting future project but the real cash-flow will come from Wetar copper production.