Finders Resources Share Discussion Threads

[harveydee] 24/12/2010 10:25

I don't like the sound of this. Have been concerned for a while by potential problems with permitting. Is it all fixed by a few well placed bribes ?

[hectorp] 24/12/2010 09:37

24th December? often a day bad news is dumped on a quiet market !
Well we are suspending the plant on Wettar until forestry permits are granted, hopefully in January.

[jonny flame] 20/12/2010 21:36

It makes sense to delist from AIM, only 2% of shares held and the company will save money by doing so. I have no holdings outside of the UK so may use this as a way to start expanding my horizons and knowledge, Chip makes an excellent point. I have always said I intend to be a holder in FND for the long term.

FND have underperformed compared to some other copper stocks such as DME, the company has a lot of potential, after holding all this time I don't want to sell and then look back end of 2011 to see FND starting to fulfill this potential.

That's my take anyway.

[engelo] 17/12/2010 15:30

Thanks chipperfrd: we're in for the long term then (these days, end of Jan) ;-)

PS would like to say thanks for the excellent analytics shown on your thread.

[chipperfrd] 17/12/2010 13:52

Yes! and yes! :-)

[engelo] 17/12/2010 13:26

Chip: thank you. Do I take it you hold some of these, and are also planning to hold on atm?

[chipperfrd] 17/12/2010 12:57

engelo,

You will probably find that HL will offer you the opportunity to sell via an HL organised block trade from time to time - but of course you can choose to ignore. They simply make the offer as part of their service.

The A$ is trending up against the GB£. Not surprising given the debts we are saddled with and in comparison to the Oz economy which is heavily biased to resources.

I would have thought that there is a strong probability of rising copper price against the US$ & UK£. Perhaps copper may be neutral in A$ terms but any improvements to FND prospects should translate to an improved ASX share price with an added improvement in comparison to a falling UK£ (IMO of course).
Chip

[engelo] 17/12/2010 12:41

Like others here I had my wires crossed on ISA eligibility.

HL say continuing to hold FND in my ISA will be no problem. However they will have to organise trades thro another broker.

AFAICS if I do nothing until end Jan my holding will be worth more based on the current ASX price, plus there should be some positive news along the way.

Have never bothered before with non-UK listed stocks but I may take this as a lead into wider horizons. (OT) Holders of RRR were virtually being ordered at gunpoint by AB to invest in ASX:JMS but I missed the op simply because of unfamiliarity.

Anyone have any views/info on the £/A$ exchange rate going forward? I think I'd favour the A$ myself: they've got all those natural resources :-))

[chipperfrd] 17/12/2010 12:12

H,

They should not lose ISA'bility if they have a decent provider.
Chip

[hectorp] 17/12/2010 11:00

Pity people will lose their ISA-bility to coin a word!
Mine are all Oz stock.
Slow but steady we go...

[soulsauce] 17/12/2010 09:47

Oh ok m8 got you, but I would still have to have sold anyway. That must have been what happened to my ELP then that Selftrade do not deal ASX - doh!!

[someuwin] 17/12/2010 09:41

Not true soul, a co ONLY has to be on a recognised exchange i.e ASX to be ISAable.

If a company is on AIM (not recognised) then it has to be dual listed on a recognised exchange to be put in an ISA.

[soulsauce] 17/12/2010 09:34

someuwin it has to be dual listed to be in your ISA.

I went through the same when ELP de-listed. The next think I knew I had null value against my holding in Selftrade ISA and then it took me over a year to be able to trade them again.

It will be only listed on one trading platform so should not be ISA-able IMO.

[someuwin] 17/12/2010 09:31

Hmm - doesn't inspire confidence when a £66 million company can't be bothered with the AIM listing.

Perhaps if they'd had better PR they might have got more interest over here.

(Btw soul there's no reason why you can't keep an ASX listed co in your ISA)

[someuwin] 17/12/2010 09:08

CANCELLATION OF AIM LISTING


TIDMFND

For Release: 17 December 2010

FINDERS RESOURCES LIMITED

CANCELLATION OF AIM LISTING

Finders Resources Limited ("Finders") has decided to cancel its listing on the
AIM market of the London Stock Exchange ("AIM"). Finders shares will continue to
be listed on the Australian Securities Exchange ("ASX"), and shareholders
wishing to trade their Finders' shares after its listing on AIM is cancelled
will be able to do so through the ASX.

Less than 2% of Finders shares on issue are now held on its UK share registry
and traded on AIM. The cancellation will give shareholders currently on AIM
access to the greater liquidity available on the ASX.

In addition, Finders incurs significant compliance and other costs associated
with maintaining and AIM listing which were not justified by the low trading
volume on AIM.

Finders continues to welcome investment from London and other European
institutions and will be maintaining its UK marketing programme through the
retention of FinnCap Ltd as joint broker and research provider.

The cancellation is scheduled to take effect at 7am UK time on 26 January 2011
with the last day of trading of Finders shares on AIM being on 25 January 2011.

All shareholdings held through Finders' UK share registry will be migrated to
Finders Australian share registry (managed by Computershare) following the
cancellation date. However, shareholders may elect to transfer their holding
before such date if they choose. A letter will be sent to holders on the UK
registry providing further details on this process and on trading shares on the
ASX.
=- ends -

[soulsauce] 17/12/2010 09:05

Hmm interesting, so one could suppose that even given lack of news it is all systems go after all.

[someuwin] 17/12/2010 08:42

FINDERS RESOURCES LIMITED

For Release: 17(th) December 2010

James Wentworth appointed Finance Director

Finders Resources Limited (Company) is pleased to announce the appointment of
James Wentworth as Finance Director.

James's key responsibility will be to complete a financing package for the
expansion of the Company's Wetar Copper project to 20‐25,000 tonnes per year
copper production. He will also be responsible for the financing of the further
development of the Ojolali Project.

James holds a Bachelor of Commerce and a Bachelor of Laws (Honours) from the
University of Queensland and is a qualified solicitor. He has more than 17
years of financial and commercial experience including a number of transactions
in the mining and mining services industries.

James began his career with law firm Feez Ruthning in Brisbane before joining
Macquarie Bank in their Project and Structured Finance and Corporate Advisory
divisions in Sydney and Wellington. He then moved to New York and worked in the
Mergers and Acquisitions division of Lehman Brothers for three years before
joining Goldman Sachs' Principal Investment Area. He has spent the last nine
years with Sydney-based private equity firm CHAMP Ventures where he was a
director and member of the Investment committee.

James is expected to join the board of the Company in February, replacing Mike
Stirzaker.

Russell Fountain, Finders Chairman commented: "The next twelve months will be a
very important period for Finders as we move to full scale production at the
Wetar Island Copper Project and continue to develop the Ojolali resource.
James's extensive experience in raising debt and equity capital will be critical
to ensuring that this rapid expansion proceeds on a firm financial footing. We
look forward to welcoming him to the board."

[soulsauce] 15/12/2010 14:43

Cheers JF another one for my watch, already have VML on the list ;-)

[jonny flame] 15/12/2010 14:41

OT - Hello SS, Yeah I wish I had bought some at the start of Nov :) Market cap just shy of 7m GBP, a couple of prospective projects, the share price is in a downward trend (obviously this could change) I'll continue to keep it on my watch list.

Personally I would rather buy VML, market cap 8.6m GBP has three projects, uranium, copper and gold/silver, the latter is a producing asset in Mexico, with news due soon sentiment could change on this underloved stock. I maybe biased as I hold 1.5m VML, so DYOR and all that :)

A long term undervalued story is CON, market cap 4.6m so 46k buys you 1% of this company, 20m shares in issue, fully funded until end of 2011 with 4-5 drills in progress next year. News flow could be deemed quiet for this share, liquidity is also an issue. Ireland is known for it's large deposits of zinc/lead and high grades.

[soulsauce] 15/12/2010 14:25

O\T JF I bought in to SRES today, looks interesting, any thoughts?

[soulsauce] 15/12/2010 13:37

News well overdue here now but not uncommon for such results to be late across the miners so not worried.

Just happy to see the share price creeping up, although given the strength of the copper price I thought this would have gone a bit higher.

[jonny flame] 15/12/2010 13:29

Yep! Sorry, have corrected the above post, 46 is actually what I meant to type.