Finders Resources Share Discussion Threads

[jonny flame] 22/9/2009 16:22

The shares I applied for in the recent placement are now in my account.

[bertberr] 18/9/2009 16:30

16.5p in UK / 33 Ausie cents.

[p bear] 18/9/2009 14:04

What will the placement price be?

[baht] 14/9/2009 12:24

Finders Resources Result of EGM - 14 September 2009 - AIM Release

Dear Sirs,

Finders Resources Limited (FND) today held its Extraordinary General
Meeting. All resolutions were passed by a show of hands.


So all passed just have to wait and see if my application was successful!

I expect to see the share price rise if the offer oversubscribed, what do others think?

[cyprussteve] 13/9/2009 20:56

Fair comment, dropside.
I was not attempting to be critical - simply posting Chris's reply for information.
Ciao
Steve

[dropside] 13/9/2009 20:35

CyprusSteve - 9 Sep'09 - 09:15 - 142 of 147

Please see below copy of reply received this morning from Chris Farmer regarding possible implications of the limestone neutralisation as per yesterday's RNS.
It sounds fairly cautious to me.
Regards
Steve

"Re neutralisation: we will need to mix crushed limestone so that's some extra capex for tanks/pumps etc and opex for digging the limestone. The size of the tanks (and cost) depends on the test work (basically how long the residence time should be). The limestone quality is good so although there will be a financial impact I don't think it will make or break the project.
We already included possible neutralisation and the limestone excavations in the scope of the Enviro permit and the location of the limestone is in the existing tenements."

Thanks Steve. Isn't that the advantage of doing the pilot plant though. There should be no nasty surprises, and questions like this can be identified and planned into the final process at the design stage when costs are at their lowest.

[baht] 11/9/2009 09:29

Robizm On Selftrade the funds were required to ber available in your account this Tuesday gone. One of my SIPPs needed cleared funds by last Friday.

Interestingly SELFTRADE misrepresented the FND offer saying it was granted on a 1:1 basis not in monetary amounts as actually seems to be the case.

[robizm] 10/9/2009 20:10

Can someone let me know when they will require the money for additional shares, sorry in advance as I have not got time to look at the moment

[jonny flame] 10/9/2009 19:14

I'm investing everything I can get hold of into commodity related equities in expectation of the continuation of the bull run in commodities. Investing now will seem like a dream 2-5 years from now.

[baht] 10/9/2009 12:26

Clearsoup Thanks - an interesting article.

[clearsoup] 10/9/2009 10:26

Uplifting comment from Ocean Equities 080909 note, p8.

Dryblower ...
... companies with lots of promise but no production spectacularly outperformed those in production.
The question is why, and Dryblower has an answer which will please everyone in the mining game – it is because fat cat investors, hedge
funds, and global metal traders are buying their seats at the table for the next phase of China's industrial revolution.
A few numbers will help illustrate how a new phase in the commodities stampede started without too many people noticing.
The rush was led by Marengo Mining, which shot almost 60% higher thanks to a funding deal.
Note that well. Not on drill results. Not on a mine plan. Not on first production, but a deal which saw one of the world's richest men, George
9
Soros, provide most of an extra $22 million in fresh capital for Marengo to expand exploration at its undeveloped Yandera copper project in
Papua New Guinea.
World-class in its potential, Yandera is years (perhaps a decade) away from producing its first pound of copper, not to mention the billion
dollars required to develop a copper mine in the highlands of PNG. But, as Marengo's share price was shooting up from pre-funding deal of
10.5c to a high of 19c on Thursday (before slipping to a Friday closing price of 16.5c), it was joined by other companies with promising, but
undeveloped, copper prospects.
Rex Minerals, which seems to be onto something big in South Australia that is years away from production, rose from $1.60 to $2.01, a gain
of 25% in a week, without much fresh news from the field.
Sandfire Resources, which is travelling hopefully at its Doolgunna project in WA, gained 16%.
Citadel, a Saudi Arabian-focused copper play, rose by 12%, and CuDeco, a Queensland copper explorer with what might be a big discovery,
added 11%.
Now, consider the flipside of those share price rises by companies that are exploring, not producing.
The copper price fell over the past week, not by much, but, according to figures from the London Metal Exchange, copper closed on Friday
around US5c lower than a week earlier.
The price earned by Australian producers would have been slightly lower still because the Aussie dollar rose by around US1c.
That marginal slip in the copper price and the rise in the Aussie dollar caused the share price of OZ Minerals, one of the bigger local copper
miners, to fall by 2c, while two Africa-focused, but Australia-listed miners, Anvil and Equinox, rose by a marginal 4c and 2c respectively, or
less than 2% each.
The gap between the producers, which barely rose or even fell a little, and the explorers, which put in double-digit rises,
caught Dryblower's eye, especially in a week when the copper prices fell and the Aussie currency moved against miners.
An event like that is called an anomaly. It's what geologists (and journalists) hunt for because it tells a story of something different
happening, and that difference is called discovery.
Dryblower's discovery last week was that some of the world's richest people are looking for a ground-floor start in the next phase of the
boom.
The theory is that risk-capital invested at this stage of a project will yield a 10 or 20-fold return as (a) exploration delivers results, (b)
development options become clearer, and (c) demand for minerals from countries such as China drives commodity prices higher.
In other words, now is a time for investors with an appetite to buy a speculative position which maximises their exposure to future mine
developments.
For investment novices this is an extremely encouraging indication of better overall stock market conditions in the years ahead because the
people investing now are the smartest in the room, for two reasons.
First because they actually have some money left to invest, and second because they recognise that the commodity price and investment
cycles are moving up, and now is a time to place your bets on the stocks most likely to succeed outrageously in the future, not those tonking
along with an operational mine today.

[cyprussteve] 09/9/2009 09:15

Please see below copy of reply received this morning from Chris Farmer regarding possible implications of the limestone neutralisation as per yesterday's RNS.
It sounds fairly cautious to me.
Regards
Steve

"Re neutralisation: we will need to mix crushed limestone so that's some extra capex for tanks/pumps etc and opex for digging the limestone. The size of the tanks (and cost) depends on the test work (basically how long the residence time should be). The limestone quality is good so although there will be a financial impact I don't think it will make or break the project.
We already included possible neutralisation and the limestone excavations in the scope of the Enviro permit and the location of the limestone is in the existing tenements."

[dropside] 08/9/2009 21:40

Yes, timing of FND production and copper world production shortfall couldn't be better..

[cyprussteve] 08/9/2009 21:03

Excellent stuff, Jonny - If the following proves to be accurate, it ties in perfectly with FND's production programme next year.

[jonny flame] 08/9/2009 20:37

Copper for delivery in three months will climb to $7,650 a metric ton by end-2010, from a prior forecast of $5,800, analysts Jeffrey Currie, Janet Kong and Allison Nathan wrote in a report e-mailed today. Prices of the metal used in cars and pipes more than doubled this year as government spending programs revived automobile production.

"Investor expectations about continued future economic growth will support prices across base metals as spare capacity gradually disappears and the cost of production steadily climbs," they wrote. "We remain most constructive on copper."

.........Supply of the metal will outpace demand by 178,000 tons this year, a narrowing from the surplus of 706,000 tons in 2008, the bank said. The market will switch to a production shortfall of 88,000 tons in 2010, according to the forecast.

[baht] 08/9/2009 11:58

So DFS only 5 weeks away and already stated that target production of 23,000 tpa achievable by 2010.

Placing offer now closed I believe, so these two pointers probably explain the share price rise this AM and possibly a little more to come when results of placing known especially if over subscribed.

[bertberr] 08/9/2009 11:45

RNS - Nothing to get excited about, or indeed to get concerned about. Clarification re the additional acid generation, alluded to back in June and the proximity of adequate limestone resource to neutralise this.

So, mid Oct it is then. Glad I subscribed to my max entitlement, not guarunteed of course, but even if I only got 50% @ 16.5p, it still represents value against the 20-23p ask of the last few weeks.

[jonny flame] 07/9/2009 14:04

Hi baht - I called Barclays on Friday and sorted this, certainly not going to miss out on this oportunity. Nice that the company has involved us PI's. If the share price keeps falling I might have to buy some in the market as well :)

[baht] 07/9/2009 12:03

I've had a eMail from Selftrade ref the Share Placing. Deadline looks like being Today if you want to apply. Different Internet services may have different proceedures, but I intend on applying for my quota even though I think it may be scaled back. This may also be reason for share price fall today. I could in theory sell my shares now and buy back at a slight profit PROVIDING I dont get scaled back.


"DEPOSITORY INTEREST PURCHASE PLAN Finders Resources Limited is offering Eligible Members the opportunity to purchase Depository Interests at a price of 16.5p per Depository Interest. If you would like to apply for any Depository Interests, please notify us in writing by letter or secure
message, stating how many you would like to purchase no later than 5.00pm on 07 September 2009.

Terms: 1 Finders Resource Depository Interest at 16.5p per share Please be aware that your instruction may be subject to scaling back Payment of the total cost specified will be collected from your account, please ensure you have sufficient cleared funds available to cover the amount due. If you choose to accept this offer the sterling equivalent will be debited from your account."

[cyprussteve] 04/9/2009 19:46

Quite a large drop of 9% in share price today, with only one small sell as below.
Time Price Volume Block Price Bid Ask B/S Type
15:27:49 18p 10,000 £1,800 19p 23p SELL O
I think the reason for this sharp decline is due to a few factors:
1) The mm's are trying to close their week end books by bringing the AIM share price broadly in line with the Aus one, which is currently standing at 0.35$Aus bid price equivalent to 18p UK .
2) With the recent Depository Interest Purchase Plan for both UK and Aus shareholders price at 16.5p valid until September 11th, this now brings the share price into pretty much parity with that price.
I think the next few weeks will be interesting for a few reasons,as listed below.
1) I believe that the DFS is due to be issued in the next week or so, and I am confident that this will excede market expectations .
2) Year end results due around Mid September, which will hopefully update us not only on the Wetar project, and planned dates for commencement of full production - ( hopefully early 2010) - plus also progress reports on both Meron and Ojoliali projects.
I believe we are now very much into the territory of this being an excellent buying opportunity at the current share price - the one current deterrent is the wide spread, but, I am certain this will change after the DFS has been announced, and trading volume increases.
As a recent shareholder,I am currently showing a nasty looking loss, and in hindsight I clearly mistimed my purchase - however, longer term I am fully confident, as I view this as a share which will show good solid growth as it gets into production, and as it is now well funded, the potential looks to me to be significant.
My guess is that when they are in full production they will be paying large dividends, not only to the benefit of existing shareholders, but, this will in itself attract wealthy private investors and Institutions seeking a good return on their investment in these times of low interest rates.
All the above make me believe that the current share price offers a serious buying opportunity.
These are of course only my own views, and I would welcome the thoughts of others.
Have a good weekend all,
Steve

[grazzer] 02/9/2009 21:36

Gold price ticking up nicely ... over $980 in New York.

[bertberr] 28/8/2009 15:44

Well, doesn't look like we'll see the FS this month, but then to be fair to FND they did state "for review" by end of August, so perhaps we'll see it early Sep?

[cyprussteve] 27/8/2009 11:53

Hi limit up,
It looks like it is difficult to buy more than 5,000 shares online - perhaps shares are in short supply at present ?
Regards
Steve

[limit up] 27/8/2009 10:41

many tks ,i will try and buy some,the trade today is not me.
regds