Finnaust Min Share Discussion Threads

[patviera] 06/9/2016 16:30

MaccamacdGot to hand it to you as you were recommending fam at 2pYou hold 25m at avge price of 2p? Wow that's 750,000 pounds profit!!Amazing

[maccamcd] 06/9/2016 16:08

the 'm' didn't work.. that should be $30m-50m..

[maccamcd] 06/9/2016 16:06

if all goes to plan and FAM are making profits of $300-500 in 2019...i don't think I'll have any problems selling my stake... I'm a long term holder and believer in this company and management. I've never been to Greenland.. but I know it's similar to Lapland where little boys dreams come realDYOR

[maccamcd] 06/9/2016 15:41

the SRK valuation he's referring to is over 2 years old apparently Patviera.. there's been a lot of work done I believe since then.. we've seen the announcements over the last year. Potentially a world class asset... just needs to be proved and monetised! I'm a happy holder with my decent stake.. SRX being bid for shows me the likely outcome for FAM as the project matures to production in hopefully 2018..capital for the journey can come from many avenues.. thats why I'm not fearful of any money needed for this journey. don't need to keep arguing with richard. he knows everything about everything.. everyone can do as they please in stocks and shares world. good luck..

[richie666] 05/9/2016 16:17

U ain't wrong there Pat!

[richie666] 05/9/2016 13:41

Pat - I can see them at 8p, I can see em modestly higher in fact. But where leveraged posi's are concerned and a consortia pushing em higher on ever lower volumes (limited free float remember) and spurious news where there is no concrete path to cash flows to support the valuation then inevitably it will come crashing down if/when one breaks. Case in point PANR this morning...

Where McDowell and his crew will come unstuck however is trying to get out. That relies on a liquidity event and from what is in the market at the moment there is not a cat in hell's chance an acquirer would pay anywhere near current val. Remember Bluejay sold the prospect for a value of $2.6m.

Next question?

A question for you - how do you know CNE will not sell their 10m shares? Also, do you not think Bluejay having sold the asset into paper for a value of $2.6m for the whole asset are looking at the gain eyes agape wonder if/when they can liqudiate. Current value of their stake in FAM goes a looong way in Greenland...

[patviera] 05/9/2016 13:24

RichieSo you can't see these above 8p?Macca bought millions at 2p? That's a good return!!

[richie666] 05/9/2016 12:37

MR McDowell - re Post 193 - how can u "borrow" me (I presume you mean supply the borrow and in fact "lend" me the stock you illiterate numbnut) shares in FAM when yours are all spreadbet? Jeez u are so clever aren't u? As you were boasting about DJI how's your PANR long making out today?

[richie666] 05/9/2016 11:50

Pat - see post 195. That is not the post of a "good guy".
And I believe FAM ARE going down - it is purely the limited freefloat sustaining the price but you cannot keep building the ponzi forever - at some point the "crew" has to sell. The fully diluted market cap of near £40m without a JORC resource estimate is plain madness. 1-1.5p is about right. As you can see re my posts above I have done quite a bit of work on this.

Alsp, can anyone explain why Bluejay were prepared to sell for a then valuation of @ $2.3m? My guess is there were no other buyers and they were sold the story of paper conversion with a list and then a classic stock operation to get em up. Give em their dues, it has worked so far. So far...

[patviera] 05/9/2016 11:25

RichieCairn won't sellWhy u attacking Macca?He's a good guy

[richie666] 05/9/2016 07:36

Another puff RNS - "Acquisition price of GBP500,000 to be satisfied through the issue of new ordinary shares in FinnAust" - If it was that good an asset then why on earth are CNE selling? They are selling because they don't believe it viable after pumping $50m in and to avoid further liability costs. Further costs FAM does NOT have the cash for and so what is coming? Yes more cap raising and dilution.

I think we reached the optimum short opportunity point.

[maccamcd] 04/9/2016 20:07

Align research wanted its fee for writing a 'Buy' note on FAM in stock, not cash... so 'Align' never actually believed that FAM was potentially a Buy and the shares were going UP @ 2p? FAM mngt turned down your relationship offer... so now you try to discredit the journey for existing and new shareholders? all smells and sounds like revenge to me...sounds like no BUY note from Align Research should be trusted... pump and dump merchants to suit... jog on..

[richie666] 04/9/2016 18:41

As u know so much Maccamcd I presume you understand the implications of this re the 108m shares still outstanding (and indeed the 40m shares per the offshore licence):
"The exercise of the Option is solely at the Company's discretion. Shareholders should note that the Option will not be exercised if it would trigger a reverse takeover pursuant to the AIM Rules for Companies or if it were to trigger a mandatory offer pursuant to Rule 9 of the Takeover Code."

Interested to know if you actually do...

And while your at it, plse explain why if the assets they acquired from CNE were so good they practically gave them away...?

There are likely billions in shares to be issued (God knows to whom as Western Areas don't seem too keen digging into their pockets) to fund the actual activities (and that's assuming there is a real workable climatic window...

[richie666] 04/9/2016 18:17

Maccamcd the market cap, fully diluted based on approx 650m shares (incl the 40m shares to be issued to Bluejay per the offshore licensing permit receipt that they didn't issue re a bid trigger and the following: "Under the terms of the Bluejay Acquisition, the Company has also been granted an option by the Bluejay Vendors to acquire the remaining 40% of Bluejay for the sum of £594,393 to be satisfied by the issue of 108,071,388 new ordinary shares of 0.01p each to the Bluejay Vendors, pro rata, to their respective holdings in Bluejay. The Option will be exercisable for a period of four years from the date of completion of the Bluejay Acquisition, so until 11 February 2020" is approaching £40m. I have not accounted for any outstanding options for management here too.

My estimate is that the company has less than £1m in cash and has taken on further financing obligations re the CNE acquisition reported in the Telegraph yesterday. PLACING AND DILUTION is inevitable in the months ahead.

I also refer you to the commissioned (hence biased) report by Optiva and the comment here: Valuation is challenging at this stage. Given the early stage of the Pituffik project, limited exploration data and the fact that the deposit does not yet support a JORC-compliant mineral resource estimate, it is challenging to estimate a value for the project in its current stage, in our view.
And: SRK, in a technical report (November 2015) determined a valuation range of $0.6m to $24m based on a variety of approaches including a cost appraised method for the lower valuation and a comparison with other operations for the maximum valuation.
Even taking the max valuation, that EQUATES TO JUST 2.7p per share - and that's MAX figure. As for the lowest (of which the data is still outstanding) well, I wouldn't want to be holding a leveraged position in these...!! :-)

Also, question of the day - why are Western Areas NOT committing funds in recent placings?

[maccamcd] 04/9/2016 08:58

what an opportunity they've stolen for us! http://www.telegraph.co.uk/business/2016/09/03/finnaust-snaps-up-greenland-mining-projects-from-cairn-energy/need to see the detail in company statement tomorrow. Non core for Cairn in low oil price environment = Amazing opportunity for FAM

[maccamcd] 02/9/2016 07:31

Rod runs a very methodical operation I can see. If you are operating in harsh conditions, best to delegate to the best and not make mistakes. Excellent comforting statements at each stage.
Market cap still tiny versus the asset... and NO plonkers owning the stock. Nice.

[113mike] 24/8/2016 20:35

Guess so! but i'm happy with Fam. I'm x 2.5 times up on my original outlay from earlier this year. Wished i bought more!

[maccamcd] 24/8/2016 18:56

am i talking to myself again?

[maccamcd] 24/8/2016 09:25

yes.. need to wait for the process consultants to verify.. think you are right with your 12p price guess, I was too cautious..
The mkt cap staying low on these types of statements is a dream for the likes of Iluka..