Finnaust Min Share Discussion Threads

[squiresquire] 23/2/2017 13:49

Very interesting interview on now from Justin on vox markets with FAM, its a cracker. Go to 18 mins exactly

This is the link,

[squiresquire] 23/2/2017 13:25

Glencore results today show just how large mineral deposits are being searched for, just imagine how tempting for the big boys a global player in ilmenite. Now what company could have such a thing?



Glencore results had this:

The U.K.-listed company on Thursday reported net income of $1.4 billion for 2016, compared with a $4.9 billion net loss the previous year. Revenue adjusted for discontinued operations rose to $152.9 billion from $147.4 billion a year earlier.

Glencore's earnings are the latest positive sign from the mining sector. BHP Billiton Ltd. and Anglo American PLC earlier this week also returned to profit, cashing in on higher commodity prices.

Glencore Chief Executive Ivan Glasenberg said stronger earnings and lower debt levels will give the company flexibility to either scoop up deals or return cash to shareholders.

"I don't think there's big stuff around to look at, but we'll see what opportunities come," he said on a conference call with reporters. "If we don't find big opportunities, we'll kick out big dividends."

Net debt fell to $15.5 billion by year-end from $25.9 billion at the end of 2015, below the lower end of the range of its guidance of $16.5 billion to $17.5 billion, as higher commodity prices, a dividend suspension and $4.7 billion in asset sales took pressure off the company's balance sheet.

Glencore said its trading business posted earnings before interest and taxes of $2.8 billion last year, a 14% gain from 2015, amid stronger demand, particularly from China, and drops in inventory levels.


We have this:

25 January 2017

FinnAust Mining plc ('FinnAust' or the 'Company')

Appointment of mineral sands specialist to support commercialisation of Pituffik Titanium Project

FinnAust Mining plc, the AIM and FSE listed company with projects in Greenland & Finland, is pleased to announce that it has engaged the services of Titanium Industry Global Advisory Pte Ltd ('TIGA') as marketing advisor to the Company. TIGA is an advisory firm specialising in providing strategic and commercial direction to the mineral sands industry with focus on titanium dioxide ('TiO(2) ') feedstocks.

Bruno Cavalancia, Managing Director of TIGA, a mining professional with over 25 years of experience in the mineral sands industry, will guide the Company towards commercialisation and strategic partnering for the Pituffik Titanium Project in Greenland ('Pituffik' or the 'Project'), where metallurgical test work has highlighted the potential for commercial production of an ilmenite product from a pure, high-grade mine concentrate.

Prior to TIGA, Bruno was Head of Commercial and Strategic Development - Asia for Kenmare Resources Plc ('Kenmare'). For the last five years of his career at Kenmare he was based in Singapore where he managed the company's business development efforts in China, India and Japan. His career in the industry started at Rio Tinto where he worked for 20 years in senior global and regional roles within the titanium business unit, including Director of Business Development, Global Director of Sales and Marketing and VP, Sales and Marketing - Asia. He is recognised for developing and executing market entry and growth strategies as well as establishing competitive intelligence platforms and building long-term customer and stakeholder relationships throughout Asia, Europe and the United States.

FinnAust CEO Roderick McIllree said, "With a maiden JORC resource expected in the coming months ahead of bulk sampling in 2017, and metallurgical test work highlighting the potential for a commercially pure, high-grade concentrate, we remain committed to the fast-paced development of Pituffik. In support of this, we are delighted to have appointed TIGA as we look to prove up the Project's commercial viability. Bruno's proven experience within the mineral sands industry will be invaluable in positioning our product for sale and identifying potential end-users in order to maximise the value potential of Pittufik. We look forward to working with him to support the on-going growth of the Project."

[squiresquire] 23/2/2017 10:53

If you want a real scream read MWs article, its really good. Also his figures on the potential of the sands is a blinder.

[snowyflake] 23/2/2017 10:51

presto77 - you have brought me a smile; no a grin - even a laugh. Brilliant.

[presto77] 23/2/2017 10:27

well well well if it isnt my old mate from the PVR thread Richie jennings

was in no doubt you would be doubling down somewhere else and here you are

.....pretending you are Goldman Sachs....who exactly is "we" Ritchie...you mean Align Paid for Research?

Trouble with you my friend is you use character assassination as a tool and claim with the benefit of 20 20 hindsight forecast every turn and twist of the market.

the truth is for someone who likes to go around sh*t-canning other people you don't stack up to scrutiny yourself pal.

jog on

[squiresquire] 23/2/2017 10:10

To remind of the position at start of October 2016.

This was 5 months ago and the results are now due very shortly, by mid March or sooner. So just a month or less.



As a result of the 2016 fieldwork, the Company has confirmed the two core target areas that will become the focus with respect to future studies. These are:

-- Moriusaq Bay and surrounding area, a low-medium tonnage target that encapsulates the bay and proximal active and raised beaches with grades in some areas estimated to be in excess of 85% ilmenite; and

-- Interlak, an area dominated by huge deltaic deposits with associated adjacent high grade beaches (see Figure 1 in PDF link) with grades in some areas estimated to be in excess of 70% ilmenite occurring as thick sedimentary bands.

On the active and raised beaches, a total of 260 auger holes and trenches were sampled during 2016. Additional trenches were completed for metallurgical sampling purposes as well as stratigraphic mapping purposes, creating a bulk metallurgical sample in excess of 500kg. This sample has been sent to Perth, Australia where analysis of the sample will be undertaken to continue to optimise the mineral beneficiation process.

Figure 1: Locations of various work programmes during the Pituffik 2016 field season - See PDF link

Moriusaq Bay has consistently returned the highest grades of ilmenite to date (average of more than 35% ilmenite) over the bay area whereas Interlak offers a very large volume target also with high grade areas. The majority of the ilmenite occurrences at Pituffik are derived via the winnowing of the deltaic sediments by wind, wave and current action with the broader Interlak catchment area interpreted as being the main feeder zone for the Pituffik project area.

Of significance, a new area east of the Interlak delta has returned potentially the highest-grade estimations from the entire project area to date at more than 90% ilmenite. Figure 2 (see PDF link) shows thick layers of ilmenite rich sands from this area. There is potential for significant amounts of ilmenite at this location. As a result, the Company expanded the work programme at this target and delivered a further 26 trenches averaging >1m deep to test as much of the area as time allowed with similar high grade results achieved in most trenches.

Figure 2: Ilmenite accumulations in trench east of Interlak delta, thick layers of black sands are ilmenite rich material - See PDF link

On the drowned beaches a total of 240 samples were taken from both the larger vibracore on the MV Kisaq vessel as well as the smaller pontoon unit. Vibrocoring is a technique for collecting core samples in shallow water environments and wetland soils.

Vibracore sampling was conducted to the north and the south of the Interlak delta over more than 6km of coastline by both the Kisaq (see Figure 3 in PDF link) and pontoon deployed vibracore units. A series of scout holes were also placed further east in a depression defined in the sediment profiling survey carried out in 2015 where sediment accumulations in excess of 25m had been identified.

Sample lines were completed perpendicular to the length of the beach at spacings of between 100m to 1000m, with holes aimed at 5m, 10m, 15m, 20m and 25m of water depth, more than 7.5km of coastline was tested.

Figures 3a & 3b: Preparing the vibracore unit for a core hole at Interlak (left) as well as thick layers of ilmenite rich material returned in the vibracore sample tube after drilling - See PDF link

The above initiatives fit with the Company's strategy to undertake a "proof of concept" bulk-sampling programme in 2017 as well as lodging an exploitation licence application in the first half of 2017.

One additional outcome from this year's work programme at Interlak was the mapping of the various terraces to try and identify depositional models and hence likely trap sites for higher-grade ilmenite sands in the raised beach areas. To this end, throughout the trenching a series of optically stimulated luminescence dating samples were taken to better define the age of certain strandlines or sequences of strata. An echo sounding survey was also completed over shallow areas to aid in tying the bathymetry and boomer profiling models with the photogrammetric digital terrain and ground penetrating radar models.

Environmental base line study components were completed by Orbicon in the Moriusaq region and extending to positions outside of the licence area. Various samples were taken including fish samples and seaweed samples. The flora and fauna were also evaluated around the Moriusaq region and outside of the licence area.

FinnAust CEO Roderick McIllree said, "The 2016 fieldwork programme was a major campaign designed to fulfil many requirements, executed by experienced service providers and delivered at relatively low cost. I would like to thank all participants, especially our lead partners, GEUS, Orbicon, NIRAS and SRK for a successful and productive season. The results from the diverse range of initiatives undertaken will generate a large array of data that will tie in with other work programmes that are underway in the background. The completion of a maiden JORC resource, together with results from the environmental impact assessment, will position us well for our next leap early next year into permitting of an exploitation licence in H1 2017. Pituffik continues to exceed our expectations at each turn and it is my belief that this project will eventually be recognised as a globally significant ilmenite deposit both in terms of grade, and tonnes".

[maccamcd] 23/2/2017 09:46

Richard doesn't want to short stock to me.. As he said its in tight hands. Does that mean he thinks its going up, and therefore its a BUY? I think soCome on the JORC! that will dictate where this little puppy is going To recap for new holders who haven't read the previous messages Align didn't get the "BUY" note relationship @ 2p. Since then Richard has been trying to undermine the investment case. Trying to make out as if the mngt weren't previously straight. Fukashima fukked GGG, That was God's hand.. FAM management are the straightest bunch of Australian kunts I've ever invested in! They will make us wealthy owning this little Rocket ship. If you took Richard's advice and sold or didn't BUY from 3p upwards, why don't you PM him and ask for the money you didn't make on a size/mark to market basis.... He's so rich and comfortable it appears

[richie666] 23/2/2017 09:21

U are also in the same camp as shut it/ramo/snowy now - filtered and cease to exist in my world.

[toyin] 23/2/2017 08:47

For anyone interested Mr Walters has an update and completely blows Mr richie666 out of the water with some facts. Goodbye richie666.

All the best

[squiresquire] 23/2/2017 08:21

In the same RNS of 27 September 2016 the comment below shows the magnitude of sampling


More than 500 auger and vibracore drill holes were completed along with extensive trenching and sampling across the project area during the 2016 field season.

The area along the sands is 80 odd kilometers

[squiresquire] 23/2/2017 08:18

To remind of the position at start of October 2016.

This was 5 months ago and the results are now due very shortly, by mid March or sooner. So just a month or less.



As a result of the 2016 fieldwork, the Company has confirmed the two core target areas that will become the focus with respect to future studies. These are:

-- Moriusaq Bay and surrounding area, a low-medium tonnage target that encapsulates the bay and proximal active and raised beaches with grades in some areas estimated to be in excess of 85% ilmenite; and

-- Interlak, an area dominated by huge deltaic deposits with associated adjacent high grade beaches (see Figure 1 in PDF link) with grades in some areas estimated to be in excess of 70% ilmenite occurring as thick sedimentary bands.

On the active and raised beaches, a total of 260 auger holes and trenches were sampled during 2016. Additional trenches were completed for metallurgical sampling purposes as well as stratigraphic mapping purposes, creating a bulk metallurgical sample in excess of 500kg. This sample has been sent to Perth, Australia where analysis of the sample will be undertaken to continue to optimise the mineral beneficiation process.

Figure 1: Locations of various work programmes during the Pituffik 2016 field season - See PDF link

Moriusaq Bay has consistently returned the highest grades of ilmenite to date (average of more than 35% ilmenite) over the bay area whereas Interlak offers a very large volume target also with high grade areas. The majority of the ilmenite occurrences at Pituffik are derived via the winnowing of the deltaic sediments by wind, wave and current action with the broader Interlak catchment area interpreted as being the main feeder zone for the Pituffik project area.

Of significance, a new area east of the Interlak delta has returned potentially the highest-grade estimations from the entire project area to date at more than 90% ilmenite. Figure 2 (see PDF link) shows thick layers of ilmenite rich sands from this area. There is potential for significant amounts of ilmenite at this location. As a result, the Company expanded the work programme at this target and delivered a further 26 trenches averaging >1m deep to test as much of the area as time allowed with similar high grade results achieved in most trenches.

Figure 2: Ilmenite accumulations in trench east of Interlak delta, thick layers of black sands are ilmenite rich material - See PDF link

On the drowned beaches a total of 240 samples were taken from both the larger vibracore on the MV Kisaq vessel as well as the smaller pontoon unit. Vibrocoring is a technique for collecting core samples in shallow water environments and wetland soils.

Vibracore sampling was conducted to the north and the south of the Interlak delta over more than 6km of coastline by both the Kisaq (see Figure 3 in PDF link) and pontoon deployed vibracore units. A series of scout holes were also placed further east in a depression defined in the sediment profiling survey carried out in 2015 where sediment accumulations in excess of 25m had been identified.

Sample lines were completed perpendicular to the length of the beach at spacings of between 100m to 1000m, with holes aimed at 5m, 10m, 15m, 20m and 25m of water depth, more than 7.5km of coastline was tested.

Figures 3a & 3b: Preparing the vibracore unit for a core hole at Interlak (left) as well as thick layers of ilmenite rich material returned in the vibracore sample tube after drilling - See PDF link

The above initiatives fit with the Company's strategy to undertake a "proof of concept" bulk-sampling programme in 2017 as well as lodging an exploitation licence application in the first half of 2017.

One additional outcome from this year's work programme at Interlak was the mapping of the various terraces to try and identify depositional models and hence likely trap sites for higher-grade ilmenite sands in the raised beach areas. To this end, throughout the trenching a series of optically stimulated luminescence dating samples were taken to better define the age of certain strandlines or sequences of strata. An echo sounding survey was also completed over shallow areas to aid in tying the bathymetry and boomer profiling models with the photogrammetric digital terrain and ground penetrating radar models.

Environmental base line study components were completed by Orbicon in the Moriusaq region and extending to positions outside of the licence area. Various samples were taken including fish samples and seaweed samples. The flora and fauna were also evaluated around the Moriusaq region and outside of the licence area.

FinnAust CEO Roderick McIllree said, "The 2016 fieldwork programme was a major campaign designed to fulfil many requirements, executed by experienced service providers and delivered at relatively low cost. I would like to thank all participants, especially our lead partners, GEUS, Orbicon, NIRAS and SRK for a successful and productive season. The results from the diverse range of initiatives undertaken will generate a large array of data that will tie in with other work programmes that are underway in the background. The completion of a maiden JORC resource, together with results from the environmental impact assessment, will position us well for our next leap early next year into permitting of an exploitation licence in H1 2017. Pituffik continues to exceed our expectations at each turn and it is my belief that this project will eventually be recognised as a globally significant ilmenite deposit both in terms of grade, and tonnes".

[richie666] 22/2/2017 22:30

Salutary lesson from Greenland Minerals & Energy.

Square this from 2012 - Roderick McIllree , managing director of Greenland Minerals and Energy (GME), an Australian-based company planning to mine uranium in the country, said there is a growing number of companies interested in mining the country.

“Greenland represents one of the last frontiers of prospectively on the globe, with strong and vocal government support to implement a mining industry, it makes perfect sense for the most active countries/companies to be there,” he explained.

With this - December 2016 Quarterly Activities
The final quarter of 2016 concluded a transformative year for GMEL that saw a robust foundation
established for the Kvanefjeld Project. At the start of 2016, the Company’s objectives were to progress
the permitting for the Kvanefjeld Project, and to advance the commercial development strategy.  ;

5 years later still not exported any uranium from my reading. A good indication of how the best laid plans generally do not go according to expectations...

And this from 2013 - "The company looks forward to continuing discussions on the Kvanefjeld project with Greenland stakeholders and regulators in order to finalise the development strategy of what is emerging as a world-class mining opportunity in Greenland," managing director Roderick McIllree said in a statement.




Looks like we seen this script before...

Good night!

[richie666] 22/2/2017 22:19

Where has the name Jeremy Whybrow come up recently?! Hmmm...



And where has Greenlands Minerals Energy popped up before. Hmm...

"Best known by its sharemarket code of GGG, the company has a tenement in Greenland that is prospective for uranium and rare earths

Snowy/Ramp/Shut it - bored of your drivel so all on filter now.

[snowyflake] 22/2/2017 22:19

Mr Jennings of Align - you may be proved to be the bonkers one.

What you do then?

What is your agenda? Have you borrowed any shares?

[richie666] 22/2/2017 22:14

From the company's own Director's statement just months ago ref the Bluejay/Pituffik acquisition -

"The fair value of the exploration assets of £1,912,886 was estimated by applying a number of valuation metrics which include; geological upside potential, mineralogy, market benchmarks and the application of local market factors. In the Directors' opinion, the value of the consideration paid to effect the acquisition related primarily to the value of the exploration licences and upside potential representing a price agreed between willing and knowledgeable parties on an arm's length basis. Therefore, the fair value of the consideration transferred, after consideration of tax implications and the removal of the fair value of other identifiable assets acquired, has been used as a basis for valuing the exploration assets acquired."

From £2m fair value to approaching £60m without a JORC resource nor completion of EIA etc. Bonkers in extremis imo!

[rampair] 22/2/2017 21:00

Completely agree Snowyflake! The Directors fees were one of the first things checked
- the fact that for running a listed company with all that entails - shows clearly
that Mr McIlree is preserving cash for the work & not himself- plenty on AIM take
4 times that salary.

Shall we look at the recent personnel? They are well respected and obviously know the
potential of Pituffik. 150km2 is quite a size.

However, it's not just Pituffik- Disko is a potential company maker on its own.Its 12
Months a year mining there. Various prospecting licences have been given out
(2016 round)

There is also full transparency at the Government, this will allow companies to see drill core data of the oil boys drilling in the district.
( Drill testing this season) Kanger, & the Finnish assets also have some great potential.

Greenlands Government and opposition are all united in seeing Mineral exploitation as
the way forward - an excellent destination & look forward to a great summer season
where we will get bulk sampling of what looks like a really top grade ilmenite resource.

TZMI in its recent quarterly review predicted ( see Linked in) 2018 will see shortages
without new supply. In 2011 Ilmenite was over 200% higher, so, room for growth.

Copper,Nickel,Zinc,Lead,Titanium. Think this has a way to run over the next year or so.
R.

[squiresquire] 22/2/2017 20:56

snowy

That was the remainder of the sell of i think the 1000000

[snowyflake] 22/2/2017 19:10

Nice reported late buy 691908 shares. Someone does not believe in the contents of your posts Mr Jennings (of Align)

[snowyflake] 22/2/2017 19:06

at 16.40 post 689 you state under ANSWER "The directors here take a decent six figure salary"

You have clearly studied the details of the announcement (for others this can be found under announcements on the company's website).

Yet you mislead readers with that statement when it is clear that McIllree earns £6,666.66 per month (readers see Directors Service Contracts)or £80,000 pa NOT A SIX FIGURE SALARY and Kuentzel earns £1000 per month or £12,200 pa NOT A SIX FIGURE SALARY and the non-exec chairman earns £1 pa

In post 693 you query the valuation of the company and state "Everyone is trying to tell u but you will not see" I might have missed someone but as far as I am aware everyone else on this bb is perfectly happy with their positions. So who are the "Everyone"

So you are misleading readers but to what end? What is your agenda?; it is certainly not altruistic. Why mislead readers? There has to be a reason for you to mislead readers. Please tell us your agenda.

[maccamcd] 22/2/2017 17:09

Richard.. If there is the so called 'smoking gun'.. And we've had a £8.5m equity raise with stock going to a few non FAMily members, therefore the stock is no longer 'tight' as your northern wallet. Then NOW at these high levels would be the perfect time for a bear like you to actually short it and show you have put your money where you mouth is.What do you think about this? We are friends.. So create your position, show me the position.. And ill clarify to the board of your position. Agreed.. There is now zero reasons for you NOT to have a bear of at least 1m shares I'll buy them from you tomorrow so you don't have to take a discount. Put your money where your mouth is? Lemme know pre open