Finders Resources Share Discussion Threads

[cyprussteve] 08/7/2010 23:13

Hi someuwin.
I agree the wording of the Ojalai update is somewhat ambiguous, but, from enquiries I have made, I believe it means that they will be issued separately, but not until the full assay results for each project are known - ie - 2 weeks for Jambi and 4 for Tambang.
I would hazard a guess that we will have the Jambi ones fairly soon.
As always, we shall see :)
Regards
Steve

[someuwin] 08/7/2010 22:52

Cyprus - I too am looking forward to seeing the Ojolali assay results, but i read the RNS as meaning that no results would be announced until both sets are know - i.e. minimum of 4 weeks.

Not a problem though - we're all used to waiting with this stock.

[cyprussteve] 08/7/2010 22:46

I still don't like the spread here, but, it is narrowing, and as we have seen before the share price is capable of moving fast on very few trades - although of course that cuts both ways.
Although we know we have an excellent and proven long term copper project here, we also know that we have two sets of assay results from the Ojolali gold and silver project due in the next few weeks, one of which is due very shortly, which, if successful, could give serious boost to the share price
See link belowfrom RNS dated June 25th -

Extract - " it is not planned to release results for either system until all assay results are received, approximately 2 weeks for the Jambi drilling, and approximately 4 weeks for Tambang."
As two weeks is just about up, dependant on how quickly the labs turn the assay results around, the first of the two could be due any day now.
I must admit I feel I am making too many postings here - and I am sure there are others who are able to contribute - it is always good to read the views and perspective of others.
Regards
Steve

[cyprussteve] 08/7/2010 21:47

Rising copper prices:

[cyprussteve] 07/7/2010 21:51

Hi connor,
I think we will get steady news in the next few months regarding both financing and production, together with permit / license grants etc.
Ref Ojalali, from the previous update of 25-06-10, my guess is that we
will have the assay results from Jambi early next week and the results for Tambang, which I believe is going to be the better of the two systems,will probably be about another two weeks away.
Just my own thoughts of course,
Regards
Steve

[connor23] 07/7/2010 20:45

Nice to see things progressing well here. With construction starting in Q3 I presume Stage 1 production will begin Q2 2011. Slightly later than I originally anticipated but not by much.

I look forward to seeing the financing details in due course.

Ojalali news might get a few more interested here in the coming weeks.

[soulsauce] 07/7/2010 08:17

Heyup CyprusSteve,
Reads positively to me too.
Like chip has intimated I just think it is the market not catching on to FND and may be the MMS are trying to make a market by dropping the offer.

Wish I had a few more groats and I would top up but there are so many other things in the sales too and I think that is another problem.

[cyprussteve] 07/7/2010 08:14

Hi Chip and all,
How do you view today's RNS - it read positively to me, but, the market does not seem to be re-acting at all as yet .
Thoughts please !
Ciao
Steve

[chipperfrd] 07/7/2010 01:32

Steve,

You beat me to it :-)

re your question on the other thread: I remain positive about both FND and copper over the medium-long term. Pity that it appears to be below the radar on both the AIM and ASX. The solution will be a rising EPS so should only be a matter of time.

[cyprussteve] 07/7/2010 00:51

Progress update today via the Company website :

[cyprussteve] 30/6/2010 09:56

Nothing new in this posting, but, worth a repeat read, I think.
Regards
Steve

A few extracts below from the Chairman's statement on 27-05-10.
"Outstanding matters required to commence construction, include: the final mining and import permits, development finance for the project, and detailed engineering. These are all at an advanced stage and the company is poised for rapid growth in the months ahead."
"As previously reported, we have been in discussion with a number of banking groups regarding funding the expansion program, and are now reviewing draft term sheets with a view to selecting a preferred financier for the project over the next few weeks. As I speak, a team from Behre Dolbear is on its way back from a site visit as an independent expert for the banks."
"On the exploration front the Board's aim has been to minimize expenditures prior to completion of funding of the Wetar development, while still maintaining a pipeline of projects to maintain future growth of the Company. We are currently drilling at the Ojolali gold‐silver project in Sumatra, where we have completed 15 holes of a 40 hole, 4000m reverse circulation drilling program targeting additional near surface gold and silver resources. At Wetar, exploration focus is on the advanced Meron prospect, located within 2km of the main Wetar resource at Kali Kuning, and low cost datacompilation and limited ground geophysical surveys on copper‐gold tenements elsewhere on the island. This work is being funded from the proceeds from the sale of our minority stake in GeopacificResources NL which was concluded during the first quarter of this year."

[tarnow] 25/6/2010 21:05

Hi Guys! I have been in FND, now for over one year, still just breaking even. But one of my main reasons for holding has always been the potential of the Ojolali project. This company has always been about the fact you have a proven copper mine that will make shareholders money alone. But a potential silver/gold mine thrown in for "free". The Tambang target is the exciting one. In the quarterly report in May it mentions the fact that "limited drilling in the near surface zone has shown very promising assays, despite poor recoveries" The results were great with over 300 Ag ppm found in 4/5 drill holes. If more drilling has proven up Tambang, then we have a high grade near surface silver mine on our hands :-)

[soulsauce] 25/6/2010 19:36

JF thanks for that.

[jonny flame] 25/6/2010 18:32

Another reason why the medium/long term copper price looks good;



India has only one per cent of the world's copper reserves and its consumption is growing at the rate of seven to eight per cent annually.
"Prime Minister is keen on acquisitions of assets abroad to secure our long-term interests of mineral resources, and added that HCL is pursuing mining leases in Madhya Pradesh, Jharkhand and Rajasthan," he added.

[jonny flame] 25/6/2010 18:24

Personally I wouldn't compare FND to DME (as Fosters have done) DME has a much, much larger resource which is only going to get bigger with time. DME have increased there proposed production from 26k per year to 37.5k per year, with production planned to commence at the back end of 2011. On top of this they are now searching for other 'Boseto' sized projects within there massive license acreage. For more info have a read through some of the recent broker notes on DME;



I think a better comparison would be to compare FND's Wetar project to FML's Benkala project, and to compare the market cap between the two companies (I would be interested in peoples findings).

This is just my opinion, please note the above info on DME is typed from memory so may have inaccuracies.

For anyone new to this bb, Chip has made some excellent posts which are a 'must' read.

Best regards,
JF

[cyprussteve] 25/6/2010 16:14

The spread will narrow as it becomes more liquid - no worries.
Have a good weekend all,
Steve

[scottishfield] 25/6/2010 15:57

Yes the spread is huge most of the time. So if you're in, you're in!

[myst1] 25/6/2010 14:12

Just been quoted 20.75 to buy and 16.50 to sell 15000 shares. Amazing spread!

[hectorp] 25/6/2010 13:16

Today's news MAY become icing on the copper project's basic 'cake'. Let us hope they ahve discovered a significant siler-gold resource!
Meanwhile ( thanks to J-F above)
there are very good points to be studied in the Foster note relating to the FND wetter copper project. Note the grade of the copper mined is exceptionally high at end of processing at mine ( to 10 PPM) THis means no need for ouside contract refining.
I was particularly interested in the comparison with the Botswanan Boseto copper mine project, with many similarities.
However key points are - again- that the copper grade is around 60-70% higher than the Boseto grade. Boseto resource is perhaps 30% larger.
However Bosteo Enterprise Value is four times higher at present than wettar's
Also 'we expect full permiting is imminent...which will be positive for the share price. TArget price 70 cents /share, currently 29c/share so Foster see 120% upside. All this assumes permitting and fund raising is not a problem which it is unlikely to be.
H.

[hectorp] 25/6/2010 12:56

Hi Phillis...
thanks domeuwin...
I bought some time ago so am 30% down. I hold the stock on Oz. but this is what we need.

[jonny flame] 25/6/2010 12:12

Hi Phillis - they are in the header but worth having a read of the below info;

Chairmans address 27th May



Foster note - May 2010



Feb 2010 presentation