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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Finnaust Min | FAM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 8.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.00 |
| Top Posts |
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Posted at 06/3/2017 00:19 by rampair Yes, your comments on GRIT are well presented. Even signed up to receive your notes!That can be the best part of these BB's where information can be presented of all types so investors can have a balanced view. Personally, I have done as much reading of available information on Greenland, the country policy on Mining and the attitude of the small population ( less than 60,000 people live on the Worlds largest island!) Clearly there are some much larger holders of this stock, and, although I held during the injection of the BlueJay asset, I have added as I believed more strongly in the project as time has gone on. I would prefer to see us develop Pituffik and then Disco & let's not forget the well tested Kangerluarsuk, which, when, "Previously drilled by Cominco then RTZ • Historical results include 41% Zn, 9.3% Pb and 596 g/t Ag (20oz’s of silver/tonne) • 2 large scale drill ready SedEx targets located in favourable topography. • • Drilling expected 2017" Source: hxxp://www.titanium. Q4 presentation FinnAust website. So, whilst respecting all reasonably expressed views, still a " buy" here, R. |
Posted at 05/3/2017 20:26 by nohead Hi Richie,the primary purpose of the maiden resource will be to support the Exploitation Licence application. It needs to demonstrate that the project is commercially viable. Because the capex is so low, and much of the equipment can be leased, the Measured and Indicated resources would, at a guess, have to equate to at least five years of production, so perhaps 3-5m tons. Whether the resource is already priced in to the share price or not is difficult to say because a) nobody knows what the resource is yet and b) I am not sure "the market" has a clear expectation of what they are waiting for. In my book, of more relevance actually will be inferred/exploration target, which ought to be a much bigger number. This will be a mish-mash of recent drilling and historic sampling. How SRK will knit all that data together is highly unpredictable, but it will start to give the first clues towards the total tonnage on that beach. This stock will be increasingly valued on its potential exit price (regardless of whether the management actually intend to sell it or not). Any large trade buyer would certainly expand the operational plans, possibly even to include working on the submerged beach through spring and fall. So a buyer would value the asset to a large degree on tons in (or rather on) the ground, as opposed to an earnings multiple from the business plan (which will emerge from the Feasibility Study). The company will use calculations from the maiden exploration resource to plan this season's drilling campaign to try and maximise the large inferred resource. Investors who have looked at this asset much more closely than I have, think the eventual tonnage could be very large indeed. Given the high grade, that could potentially make this a world class resource. The company will also be processing a bulk sample this season to test the metallurgy. So everyone is hopeful that this summer could see a big value uplift, which I think explains why there has been so much up-take in the stock recently. The SIA should not be an issue because no one lives anywhere near the resource. Likewise the EIA does not face any major hurdles. Apparently the only wildlife on the beach are two walruses. The Minister of Mines has gone public saying he would like to see the Exploitation Licence approved in a timely manner. I like your GRIT idea. Generally these funds/trusts tend to trade at a discount to NAV. Part of the problem is that it is difficult to analyse all the component parts, and you never know if there are some bad apples in there (eg Araken). There can also be issues in realising value of component assets. But I think we are now in a bull market for junior miners. As you point out the managers are taking advantage of this, and have been well-incentivised. Is there a time-limit on their 14-18p option? n |
Posted at 04/3/2017 21:38 by nohead Hi Richie,If everyone was on the same side of the market there wouldn't be a market, so no worries. I am quite certain there are many junior mining stocks out there that are cheaper than FAM. If you come across any of them be sure to less us know! One thing we all learnt from the mining crash is that none of these junior mining stocks have any value at all unless the assets get into production or, even better, get bought out by a larger producer who can then build the mine. As I am sure you know, the percentage of these junior assets that actually end up becoming a mine is minuscule. Project financing usually ends up being the road block to high valuation, but high capex, junior mining projects. We know in the ilmenite space there are large buyers out there for good quality assets. Majors/producing mid-caps look for high grade and long mine life (so they can ride out the commodity cycles). They also look for stable mining jurisdictions, and Greenland seems to be pulling our the stops to prove itself in this respect. The positive comments of the mining minister the other day reduced permitting risk for this project in our view. The low capex on this project therefore makes it particularly attractive. It could be reduced further if they decide to out-source major production functions such as dredging, the processing vessel and transshipment/storag The Feasibility Study and exploitation application are time-lined for around six months after the maiden resource, so the Minister was correct when he described this as a "mature" project. We are also hoping to get more information on developing the other assets in the company, which also ought to add value (as far as we can tell, the market is not ascribing any value to them at present). The release of the resource followed by the economic model will firm up the valuations, that are probably more in the 18-23p range at this stage of the project in our estimation. While that doesn't necessarily mean the share price will get up there immediately, I would say downside risk is negligible at this point and the prospects for the shares this year is great, backed by fundamental valuations. What one of the other posters says is correct, in that the company is planning to bring more institutions onto the share register after the resources are out. Souvalki sounds great. Very jealous of you on a particularly cold night here in the UK! n NB squiresquire, thank you for your kind words. |
Posted at 04/3/2017 17:08 by maccamcd It will most probably go up to 12, then down a bit to 10p... Then the next wave of institutions and knowledgeable mining investors will soak it and lift the S/P to 15p...20-25p for Xmas. I've heard the names Blackrock/JP Morgan/Henderson /legal & General /fidelity etc being lined up for PRE/POST JORC meetings. We just need the JORC to be amazing to make all this huff and puff a reality... A very real reality! GLA! only found out it meant GOOD LUCK ALL yday! |
Posted at 04/3/2017 16:39 by nohead Ritchie,1) I actually spoke to Western Areas about this personally. The placement was heavily over-subscribed, and they were asked if they would make room. My understanding is that their entire £3m block was taken up by one institution. Even after this, the placement was still over-scribed. The original Finnish exploration project in FinnAust had not worked out and my sense is that it had become a bit of an embarrassment to some on the WA board. Blue Jay had been brought in to try and turn things around at FinnAust, which had gone well. Western Areas is a conservatively run nickel company, and ilmenite is far outside of its core focus. For this reason they were happy to make room as the stock had moved back up through its IPO price. Though they did say they are very interested in the Disko nickel exploration play which FinnAust acquired recently. We have no issue with Western Areas selling down. 2) I am not sure how your note was silenced. I certainly read it. It is always good to read an alternative view, although I can't see at all how you have arrived at your valuation. 3) I was not referring specifically to S P Angel's note. There are a number of other valuation models that people have run internally. I was talking about risk discounting, ie reducing assumptions and valuations by a subjective amount due to the stage of the project, rather than "discount rates" in a DCF model. I agree, it was also difficult to understand the assumptions in the S P Angel note, on future production ramp-up for example. 4) I looked into this also. The selling was very minimal compared to those people's overall positions. They have retained the great majority of their positions and so this is not a concern. 5) In my experience brokers often sell "incentive warrants" early. Brokers tend to convert and sell once the value becomes equivalent to what they consider their fee. They have their own cash bills and wages to pay. They are brokers and not fund managers. This is quite a common practice and is not a concern. 6) We have been impressed with how the project has been run up to date, with fast progression on minimal spend. The management seem to have a good reputation among other juniors we know. Obviously respect your alternative point of view. However, there are a number of investors that don't want to (or can't) buy prior to a maiden resource. If the resource is reasonable, I sense there may be further buying on the back of that as the project de-risks. |
Posted at 25/2/2017 11:17 by snowyflake I have just listened to the interview between Justin Waite of Vox and Rod McIllree. When, at the end of the interview, Rod was asked to name three reasons for investors to consider the company he replied "resource,resource,rBTW the new epic code will be JAY. |
Posted at 22/2/2017 15:48 by squiresquire You are saying so far, investors have doubled their money or better.Isnt this the trademark of a good stock ? |
Posted at 22/12/2016 12:12 by maccamcd cheers Pat.. I've been very quiet the last month. Inside on the placing, so obviously couldn't comment.some points about the placing: The Institutional investors did significant due diligence on the company, the management, with Local Greenland Govt officials, the asset potential.. and getting comfortable with the risks around the investment. If you check the recent holdings RNS.. you'll see an institution who very recently closed a very lucrative declared 'short' in Paysafe, are now invested in FAMily. it's comforting to have very smart investors on board!? Raising £8.5m with a list of about 20 existing/new investors.. more Tier 1 Institutional meetings being lined up for January/Feb to beat the drum and soak up any lose stock is confirmation of what we all knew.. but a nice verification of the potential. we can all sleep better. Attracting Mirabaud on the ticket who are specialists in Natural resource companies and their assets/potential. Bear in mind Mirabaud have raised $1bn for Kenmare over the years.. so any future funding needs to progress the other ASSETS we own shouldn't be a problem. They only got involved as they can see the journey, the kudos being involved in a money making opportunity for their investors, and for the comm it will generate for them as the company progresses its world class assets! SP Angel did a fantastic job also.. put the company in front of many institutions. Some who will invest as the company derisks itself.. we are now on some good radars. You all noticed there wasn't really a discount on this placing?? that's because the brokers/investors agreed 7p was good value and fair. Hopefully a good base to push on from with lots of news flow promised in Q1. Reducing WA Down to 19.99% was the plan.. apparently that suits them, and no other sales are expected (unless at multiple higher prices?) no idea.. but they shouldn't be considered a 'overhang' some bunff from the Mirabaud Buy note: "Based on the above we calculate a post-tax NPV8 of US$116.6m as a result of the mixture of our three different campaign mining period scenarios (see table below). On top of the risk factor for each scenario (likelihood to happen) we apply to our Pituffik sum-of-the-parts valuation a 50% risk adjustment in recognition of the risks to the early stage of the project. " Valuation (£p/share) 0.14p so this is a 50% conservative discount.. The valuation is using very conservative inputs.. if FAM do the size/grade/pricing that is the whisper numbers.. the share price valuation is more like 96p !!!!!!!!!!!!!!!! BOOM BOOM. Happy Christmas to you all.. hopefully 2017 will be just as profitable to you as owning FAM was in 2016. Peace to all men (including Richieboy!) |
Posted at 08/12/2016 16:57 by arthurdaley69 FinnAust Mining plc ('FinnAust' or the 'Company')Placing to raise GBP8.5 million FinnAust Mining plc, the AIM listed exploration and development company with projects in Greenland & Finland is pleased to announce that it has successfully raised GBP8.5 million from the issue of 76,428,572 new ordinary shares of 0.01 pence each in the capital of the Company ('New Placing Shares') and the placing of 45,000,000 existing ordinary shares of 0.01 pence each in the capital of the Company ('Existing Shares') at a placing price of 7 pence per share (together 'the Placing'). Both new and existing investors were procured by the Company's brokers share price Angel Corporate Finance LLP ('SP Angel') and Mirabaud Securities LLP ('Mirabaud') who were appointed as placing agents. The Placing was significantly over-subscribed. The Existing Shares were made available to investors by Western Areas Limited ('Western Areas'), the largest shareholder of FinnAust. The gross proceeds of the issue of the New Placing Shares is GBP5.35 million. The net proceeds of the Placing attributable to the Company (being approximately GBP5.05 million after fees and expenses) will be used to accelerate the development of the Pituffik Titanium Project, the Company's flagship ilmenite project in Greenland. This will include a proof of concept bulk sample, completion of the Feasibility Study and completion of the exploitation application process in 2017. Other work programmes will include the finalisation of the Environmental Impact Assessment ('EIA'), the Social Impact Assessment ('SIA') as well as on-going detailed metallurgical and engineering work. Activity will also include the maiden resource statement for the Pituffik Titanium Project, which is expected in the first quarter of 2017. The Pituffik Titanium Project has demonstrated the potential to be one of the highest mineral grade ilmenite projects in the world. With this in mind the Company's primary focus is on delivering a significant proof of concept bulk sample in 2017. The Pituffik Titanium Project comprises three main target areas along more than 80km of coastline historically proven to contain large and high-grade accumulations of primary ilmenite, with mining in Greenland envisaged to be achieved via a low capex dredging operation. FinnAust's Managing Director, Roderick McIllree said, "This fundraising was well supported and I'm pleased to welcome new, strong institutional shareholders to the Company that share our vision. We are pleased with the progress made to date and remain confident of delivering our stated goals. With the maiden resource for the project due in the first quarter of 2017, we continue to be of the view that the Pituffik Titanium Project will soon be recognised as a globally significant ilmenite deposit both in terms of grade and tonnage. "We would like to thank our major shareholder Western Areas for confirming their continued support to FinnAust whilst allowing the Company to bring on-board new institutional shareholders to deepen the share register, with limited dilution to existing shareholders at this formative stage." Western Areas' (ASX ticker "WSA") Chief Executive Officer, Dan Lougher, commenting on the transaction said, "Western Areas is delighted with the progress Rod and his team at FinnAust have made in advancing Pituffik towards full commerciality. We have reduced our holding to 22.85% to accommodate the inclusion of some high calibre new shareholders. We also confirm our long term commitment to continue as a cornerstone investor in the Company as we look forward to the very positive future that the Pituffik asset presents." Bluejay Consideration Further to previous announcements by the Company, deferred consideration of 40,755,885 new ordinary shares of 0.01 pence each in the capital of the Company ('Deferred Consideration Shares') is payable to the vendors of Bluejay Mining Limited ('Bluejay') upon: -- Bluejay being granted a mineral exploration permit over the offshore Pituffik project area; and -- the issue of the Deferred Consideration Shares not triggering a mandatory offer pursuant to Rule 9 of the Takeover Code. On 13 July 2016 the Company announced that it had been granted an extension of its existing licence to include all minerals within the shallow marine environment at the Pituffik project area ('Offshore Licence Grant'). As a result of the Offshore Licence Grant and the issue of the New Placing Shares, the Company was obligated to issue the Deferred Consideration Shares. Accordingly, the Deferred Consideration Shares were issued to the vendors of Bluejay on 8 December 2016. Roderick McIllree and Gregory Kunzel, both Directors of FinnAust, are amongst the vendors of Bluejay. Further details concerning the issue of Deferred Consideration Shares to them is set out in the table below and at the end of this announcement: |
Posted at 26/10/2016 17:48 by snowyflake Richard Jennings - maccamcd yesterday asked you to let him know when you have a "big boys position in these" i.e. Finn Aust. That is not the first time that he has asked you that or a similar question.Today il duce15 has asked you to let him know when you do take a position in Finn Aust stock so that he can then evaluate your comments more seriously. All I note is that your continual downing of the company. Today you have highlighted comments by a poster on LSE who concentrates on 24 hour darkness in Greenland in the winter and the fact that Greenland is frozen over in winter. Well done Mr Jennings because as an investor in Finn Aust I already know that but what I also know is the following which is far more important to the board:- From February the country warms up. As it warms up so do the sunlight hours increase until at the end of April early May the country has 24 hour daylight. On a bright day the atmosphere is very dry and in the sunlight it feels warmer than it is. You will find pictures on promotional blogs of people in boats in Greenland wearing T shirts in the sun. I do not believe that the company have any intention to dredge in the middle of the winter nor in the darkness of night but just think for how long they can dredge in 24 hour daylight; yes potentially 24 hours around the clock. You can put all the scare tactics into play as to why people should not invest in Finn Aust or remain invested as you like but I wonder what is the benefit to you in being so aggressive. As I say both mccamcd and ilduce have asked you to let them know when you take a position. I ask the same question. I also ask another question as well, given the attacks you make against the company and the ceo. Why are you making such attacks and also attacking those who stand up for their investment in Finn Aust. It could be said that you are being altruistic and you want to safeguard the pockets of myself and other investors or prospective investors. It could be said that you are trying to benefit yourself or the company has let you down in some way. I have not ruled out the possibility that you are trying to benefit yourself since the S P Angel who are much much larger than your own Align have a very different take on the company than the minnow Align and I doubt that is just because they are the nomad and broker to the company. After all they have their own reputation to preserve. |
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