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Fluormin Investors - FLOR

Share Name	Share Symbol	Market	Stock Type
Fluormin	FLOR	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	13.50	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
			13.50	13.50

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Posted at 17/5/2013 09:40 by grollfam Vanoil Energy Ltd. (TSX VENTURE:VEL), an oil and gas company with a portfolio of assets in East Africa ("Vanoil" or the "Company") is pleased to announce that all motions put forward for approval at its Annual and General Special Meeting held on May 10, 2013, passed with significant shareholder support. James Passin, Aaron D'Este, Don Padgett, Larry Van Hatten, Samuel Malin and Francis Karanja were elected to the Company's board of directors. The Company's shareholders also reappointed Ernst & Young LLP as auditors for the coming year and approved the re-adoption and amendment of the Company's stock option plan. By way of an ordinary resolution by the minority shareholders of the Company, the acquisition of Fluormin Plc by Vanoil, as announced on March 26, 2013, was approved, with 99.83% of the votes cast in favour of the acquisition. Mr. Aaron D'Este stated, "We are extremely pleased with the overwhelmingly positive response we received from shareholders approving the acquisition of Flourmin PLC. We are currently marching towards our two-well drilling program in Kenya, and we remain on track to commence our first well in July." Full details on the acquisition of Fluormin Plc can be found in Vanoil's management information circular dated April 8, 2013, which is available on the Company's website at www.vanoil.ca or on SEDAR at www.sedar.com. About Vanoil Energy Ltd. Based in Vancouver, Canada, Vanoil is an oil and gas company with a portfolio of assets in East Africa and listed on the TSXV. The Company holds Blocks 3A and 3B, onshore Kenya, which were acquired in October 2007 through the signing of a Production Sharing Contract with the Government of the Republic of Kenya. These blocks, which cover 24,912 km2 between Tullow's recent oil discoveries and Apache's offshore gas well have been assigned prospective resources in excess of 3 billion barrels. Offshore Kenya, the anticipated perfection of a 10% participating interest in offshore Block L9 alongside partner Ophir Energy plc ("Ophir"), is estimated by Ophir to represent 270 million barrels or 1.18 Tcf of prospective resources net to Vanoil. In the Seychelles, Vanoil's 25% participating interest alongside partner Afren plc ("Afren") in oil and gas exploration Areas A and B, which cover some 14,319 km2, entitles the Company to mean net unrisked prospective resources of 700 million barrels of oil-equivalent as estimated by Afren. Vanoil also has the exclusive right to negotiate a production sharing contract with the Republic of Rwanda covering 1,631 km2 of oil and gas concessions in the northwestern part of the country, incorporating the eastern waters of Lake Kivu and the surrounding shoreline. FTI Consulting Media and investor enquiries: Natalia Erikssen, Sara Powell +44 20 7269 9348 Read Full Thread Reply
Posted at 17/3/2013 13:03 by dreggspicker So there should be 4 drills in 2013 ! See Vanoils november news; News Releases November 26, 2012 Vanoil Agrees Non-Binding Terms To Acquire Avana Vancouver, British Columbia - November 26, 2012 - Vanoil Energy Ltd. ("Vanoil") is pleased to announce that it has entered into a non-binding heads of terms to potentially acquire the entire issued and to be issued share capital of Avana Petroleum Limited ("Avana") from its shareholders (the "Sellers") on a cash-free debt-free basis (the "Acquisition"). Highlights: Non-binding heads of terms agreed for the Acquisition in a cash-free-debt-free share transaction If completed, will deliver a 10% interest in Kenya offshore block L9 with its partners Ophir and FAR Limited and a 25% interest in Seychelles Areas A and B with its partner Afren plc Supports Vanoil's vision of becoming an emerging leader in East African oil and gas exploration Brings geological and geopolitical diversification to the existing onshore Vanoil portfolio Increases, at completion, Vanoil's net recoverable mean unrisked prospective resources from 927 million boe to well over two billion boe Accelerates Vanoil's exploration program, with two 3D seismic surveys and at least four drilling events scheduled for 2013 alone Avana is a privately held Isle of Man company which holds a 10% working interest in Kenya offshore block L9 with its partners Ophir Energy plc ("Ophir") and FAR Limited. Block L9 is a 5065 km2 block located off the coast of Mombasa in the southern waters of Kenya; a region in which all of the neighbouring acreage is held by Total, Anadarko, BG, Apache, PTT and their respective partners. Block L9 lies directly to the south of block L8, on which Apache discovered gas in the Mbawa prospect earlier this year. The results of a 560 km2 3D seismic survey conducted in Q2 2012 suggest that the analogous Mbawa South prospect extends across the border of block L8 into L9, and a second 1536 km2 3D seismic survey conducted by Ophir in Q3 2012 illuminated potential oil prospects in a separate fairway spanning the southern half of block L9 and notably the Simba Graben. Ophir management presentations in October 2012 note that the estimated gross recoverable mean unrisked prospective resources on block L9 are 2.7bbbl/11.8 TCF of natural gas and that drilling will commence in 2013. Avana also holds a 25% working interest in Seychelles Areas A and B with its partner Afren plc ("Afren"). Areas A and B comprise in excess of 14,000 km2 in total and are located on the Seychelles plateau and adjacent zones in the northern waters of the Seychelles in a region where Amoco previously drilled three wells with hydrocarbon shows. Avana and its partner have acquired 8,500km of 2D seismic in the Seychelles (in addition to over 4,000km acquired by other parties over the blocks) and an extensive new 3D seismic survey is scheduled to commence in early 2013. Multiple oil seeps have been observed on Areas A and B, and tar balls of natural origin are abundant throughout the region. In August 2012, Afren's management noted that the estimated gross recoverable mean unrisked prospective resources on Areas A and B are 2.8 billion boe and that drilling is due to commence in Q4 2013. It is proposed that the consideration due to the Sellers will be CAD$15,000,000 (approx), satisfied by the issue to the Sellers of common shares in Vanoil. Deferred consideration of up to US$4,000,000 (approx.) may become payable in future, subject to certain conditions being satisfied in connection with the discovery of hydrocarbon on Avana's offshore blocks. The Acquisition remains subject to the satisfaction of a number of conditions, including agreeing the form of and entering into legally binding documentation, formal acceptance by the Sellers, satisfactory due diligence being carried out, as well as the parties obtaining all necessary corporate and regulatory approvals which may be required. It is proposed that Sam Malin, CEO of Avana, join the board of Vanoil upon completion of the Acquisition. The potential Acquisition supports Vanoil's vision of becoming an emerging leader in East African oil exploration. The underlying acreage to be acquired through Avana represents a complementary addition to Vanoil's existing portfolio, bringing geological and geopolitical diversification. The combined company will hold blocks in four separate basins, two onshore and two offshore, spanning four of the most prospective hydrocarbon systems in East Africa. At the completion of this transaction, Vanoil's net recoverable mean unrisked prospective resources will more than double, rising from 927 million boe to well over 2 billion boe. An active exploration program across the portfolio will also yield regular news flow, with two 3D seismic surveys and at least four drilling events scheduled for 2013 alone. Aaron D'Este commented, "The vision of Vanoil's Board of Directors is to provide a compelling proposition for investors committed to oil exploration in East Africa. The potential acquisition of Avana represents a very positive step towards this goal. In a single transaction, Vanoil could double its net prospective resources, reduce risk through diversification, and gain a host of well-known joint venture partners with extensive experience across Africa. We are also delighted that Sam Malin has agreed to join the Board of Vanoil upon completion and pleased to note that the share-for-share nature of the deal preserves our cash position. Overall, we are confident that the acquisition of Avana will prove to be a transformational event for Vanoil and its shareholders." Sam Malin of Avana commented, "The bringing together of Avana and Vanoil will create a uniquely focused East African exploration company with a wealth of regional experience. The transaction, once complete, will also meet Avana's objective of providing its shareholders with a listing on an internationally recognised stock exchange." About Vanoil Energy Ltd. Based in Vancouver, Canada, Vanoil is an internationally diversified resource company that has a comprehensive portfolio of oil and gas assets in the African countries of Kenya and Rwanda. In Kenya, Blocks 3A and 3B were acquired in October 2007 through the signing of a Production Sharing Contract with the Government of the Republic of Kenya. Blocks 3A and 3B, which cover 24,912 square kilometers, are part of the vastly under-explored Cretaceous Central African Rift Basin System. The Company is preparing to drill in Q1 2013 its first exploration well on its Kenyan concession. Vanoil's is also the holder of 1,631 square kilometers of an oil and gas exclusive licence in the East Kivu Graben in Rwanda at the southern extension of the Albertine Graben where Heritage and Tullow Oil made their historic discovery in neighbouring Uganda. Read Full Thread Reply
Posted at 31/8/2012 17:14 by pisces4 my 15pence price target is getting ever closer,people losing patience here and who can blame them. not for the faint hearted and not a particularly investor friendly company,the chart looked like it had bottomed out but so glad i have waited,my fingers will be twitching in next few weeks,lets see. Read Full Thread Reply
Posted at 01/8/2012 14:46 by cyprussteve As with so many AIM resource shares,FLOR is being hammered due to the market - and is not unique in this respect. There are a large number of exploration Companies - ( even those that are actually cash positive and in production) - that are suffering. Undoubtedly there are bargains to be had at the moment - and dropside may well be right that this has been oversold - but, the problem we all have at present is the overall concern regarding global financials, and the incredibly thin trading in the market at present - the days of the longer term investor - ( of which I am one) - have, for the present time at least, seem to have totally disappeared, and the market is dominated by short term profit takers. So be it - one cannot fight the markets. However, I have a lot of respect for dropside's judgement - ( he always does his homework) - and, if he is calling it correctly it may well be one to follow closely - at sometime there will be a market rebound in small capital explorers - the million dollar question is when !! Regards, and good luck to all, Steve Read Full Thread Reply
Posted at 10/1/2012 10:24 by howdlep First trade of 10k gone through. I am looking for any close above 66p to confirm the setup for the next leg up to 93p. Hopefully, we will be a long way towards it when new investors come on board after the Minesite presentation on 18/1 and the Q2 production update, due around 19/1. As I have said previously, management aren't going to present on 18/1 if they are about to put out anything but excellent production figures on the 19/1. Try buying stock then. Its hard enough now! Westhouse broker target currently is 118p. Read Full Thread Reply
Posted at 09/1/2012 09:56 by howdlep Well worth a read:- January 05, 2012 Fluormin Sets Its Sights On Acquisitions In The Fluorspar Space By Sally White MINESITE As far as the market is concerned, the next major event at Fluormin is likely to another take-over. Certainly, it wouldn't be beyond the capabilities of the London-based Aim-trade fluorspar group which, despite a market capitalisation of just £31 million, has the backing of commodities trading giant Glencore as a business partner, and of major US emerging market hedge fund Firebird and leading Australian banking group Macquarie as investors. Having said that, the ink is barely dry on its most recent deal, as Fluormin, now fully transformed from its old incarnation as Maghreb Minerals, spent the closing weeks of 2011 completing its acquisition of South Africa fluorspar group Sallie. But there's no denying that there's plenty of M&A experience at board level. Market participants are already bandying some potential names about. Two undeveloped deposits that South African brokers are putting up as potential targets are local: Sephaku Fluoride's Nokeng project and ENRC's Doornhoeck. However, development is still in its early stages at both, and Fluormin may not find the propositions compelling enough - yet. But Fluormin's management has said that it is expects to make one or more acquisitions over the next 12 months. Joint chief executive Al Gourley, who has over US$20 million of group cash to spend, has acknowledged that he has a shopping list of companies that are already in production. And with that shareholder register, finding the money to fund any deal should hardly be a problem. Given the company's published ambition to take a "meaningful share" of the international fluorspar market and to become a supplier of choice to American and European customers, acquisition seems to be the obvious strategy. However, there are a number of other routes to Fluormin's destination, including organic growth. The fluorspar market is going through major changes at the moment, and these are unlikely to be derailed by the current slowing in Chinese economic expansion. Fluorspar has a wide range of applications. It's used as a component in aluminium manufacture, in the creation of fluorocarbons for fridges and freezers, as the fluorine in toothpaste, and as an ingredient in the anti-depressant Prozac. China is currently the largest producer of fluorspar, but in the near future may well swing away from being the top exporter as it consumes more and more of the product itself. Some in the industry even think it's likely to become a net importer. During the last ten years China's share of consumption has increased from 32 per cent to 54 per cent, while Western Europe's declined from 19 per cent to 11.4 per cent. Even allowing for that increase, Chinese demand is still forecast to grow by 12 per cent per year. The market is reasonably opaque, as prices are negotiated between producer and customer. Only 800,000 or so tonnes of acid grade fluorspar (the highest grade), around 20 per cent of global supply, are currently openly traded on the market. However, as a guide, over the last two years the visible price of acid grade fluorspar has risen from US$200 a tonne to US$600 and has then come back to around US$500. Other producing countries such as Mexico and Russia are, like China, aiming for self sufficiency, and will thus also have less surplus to export. No wonder the EU and the US, with stockpiles are depleted, have put fluorspar on their "critical" supply list. At the current fluorspar price level broker Westhouse Securities reckons Fluormin will generate operating cash flows of around US$20 million per year from current operations, and will enjoy a 30 per cent operating margin assuming a fluorspar price of US$450 a tonne. The company now has exposure to production of 350,000 tonnes a year, including output from Sallies and an interest in FlourOne trading group, which deals largely with China. It also has off-take agreements on three Tunisian projects, Bou Jabeur, Fej Lahdoum and Jebel Fej Lahdoum, which were sold to subsidiaries of Glencore in August 2011, and holds a 20 per cent stake in Kenya Fluorspar Mine (KFM). KFM is a significant fluorspar producer for global markets, capable annual production of 115,000 tonnes. In 1997 KFM received a 20 year mining lease from the government and in recent years it has had annual production of between 80,000 and 100,000 million tonnes of acid grade fluorspar at a head grade of approximately 40%. There's also an exploration asset, the Tunisian Zriba-Guebli project, which in the past has produced at rate of between 30,000 tonnes and 40,000 tonnes a year. Drilling next year is targeting a one million tonne resource. No wonder Al Gourley talks of "substantial organic opportunities". At 55p Fluormin's share price reflects the strength of its story, having come up from the 39p reached as original Maghreb shareholders sought an exit. But there should be more to come, and it's perhaps no surprise that Westhouse sets a price target at more than double the current price, at 118p. Read Full Thread Reply
Posted at 06/1/2012 08:16 by howdlep Few are aware of the Minesite article (free membership dreggs) which came out yesterday. I have added a few more again but almost impossible to buy any online. Note, the Westhouse broker target of 118p and the war chest of cash for acquisitions. Free float is a tiny 10.5% so expect this to really move when the herd arrive:- January 05, 2012 Fluormin Sets Its Sights On Acquisitions In The Fluorspar Space By Sally White MINESITE As far as the market is concerned, the next major event at Fluormin is likely to another take-over. Certainly, it wouldn't be beyond the capabilities of the London-based Aim-trade fluorspar group which, despite a market capitalisation of just £31 million, has the backing of commodities trading giant Glencore as a business partner, and of major US emerging market hedge fund Firebird and leading Australian banking group Macquarie as investors. Having said that, the ink is barely dry on its most recent deal, as Fluormin, now fully transformed from its old incarnation as Maghreb Minerals, spent the closing weeks of 2011 completing its acquisition of South Africa fluorspar group Sallie. But there's no denying that there's plenty of M&A experience at board level. Market participants are already bandying some potential names about. Two undeveloped deposits that South African brokers are putting up as potential targets are local: Sephaku Fluoride's Nokeng project and ENRC's Doornhoeck. However, development is still in its early stages at both, and Fluormin may not find the propositions compelling enough - yet. But Fluormin's management has said that it is expects to make one or more acquisitions over the next 12 months. Joint chief executive Al Gourley, who has over US$20 million of group cash to spend, has acknowledged that he has a shopping list of companies that are already in production. And with that shareholder register, finding the money to fund any deal should hardly be a problem. Given the company's published ambition to take a "meaningful share" of the international fluorspar market and to become a supplier of choice to American and European customers, acquisition seems to be the obvious strategy. However, there are a number of other routes to Fluormin's destination, including organic growth. The fluorspar market is going through major changes at the moment, and these are unlikely to be derailed by the current slowing in Chinese economic expansion. Fluorspar has a wide range of applications. It's used as a component in aluminium manufacture, in the creation of fluorocarbons for fridges and freezers, as the fluorine in toothpaste, and as an ingredient in the anti-depressant Prozac. China is currently the largest producer of fluorspar, but in the near future may well swing away from being the top exporter as it consumes more and more of the product itself. Some in the industry even think it's likely to become a net importer. During the last ten years China's share of consumption has increased from 32 per cent to 54 per cent, while Western Europe's declined from 19 per cent to 11.4 per cent. Even allowing for that increase, Chinese demand is still forecast to grow by 12 per cent per year. The market is reasonably opaque, as prices are negotiated between producer and customer. Only 800,000 or so tonnes of acid grade fluorspar (the highest grade), around 20 per cent of global supply, are currently openly traded on the market. However, as a guide, over the last two years the visible price of acid grade fluorspar has risen from US$200 a tonne to US$600 and has then come back to around US$500. Other producing countries such as Mexico and Russia are, like China, aiming for self sufficiency, and will thus also have less surplus to export. No wonder the EU and the US, with stockpiles are depleted, have put fluorspar on their "critical" supply list. At the current fluorspar price level broker Westhouse Securities reckons Fluormin will generate operating cash flows of around US$20 million per year from current operations, and will enjoy a 30 per cent operating margin assuming a fluorspar price of US$450 a tonne. The company now has exposure to production of 350,000 tonnes a year, including output from Sallies and an interest in FlourOne trading group, which deals largely with China. It also has off-take agreements on three Tunisian projects, Bou Jabeur, Fej Lahdoum and Jebel Fej Lahdoum, which were sold to subsidiaries of Glencore in August 2011, and holds a 20 per cent stake in Kenya Fluorspar Mine (KFM). KFM is a significant fluorspar producer for global markets, capable annual production of 115,000 tonnes. In 1997 KFM received a 20 year mining lease from the government and in recent years it has had annual production of between 80,000 and 100,000 million tonnes of acid grade fluorspar at a head grade of approximately 40%. There's also an exploration asset, the Tunisian Zriba-Guebli project, which in the past has produced at rate of between 30,000 tonnes and 40,000 tonnes a year. Drilling next year is targeting a one million tonne resource. No wonder Al Gourley talks of "substantial organic opportunities". At 55p Fluormin's share price reflects the strength of its story, having come up from the 39p reached as original Maghreb shareholders sought an exit. But there should be more to come, and it's perhaps no surprise that Westhouse sets a price target at more than double the current price, at 118p. Read Full Thread Reply
Posted at 01/12/2011 05:37 by howdlep Shares Magazine investor presentation this evening:- For those new to this thread, FLOR have just completed their Sallies acquisition, are cash rich and a producer. Tonight's presentation should generate a bit of interest for the companies listed below:- Consolidated Africa Mining plc, Fluormin plc, Nostra Terra Oil & Gas plc and Vane Minerals plc Following the successful launch of MRQ Mining and Resources Quarterly, Shares Magazine is pleased to announce a series of investor evenings, specifically aimed at investors interested in mining and resources stocks. The aim of the Investor Evenings is to educate and inform investors about individual companies involved in the resource and mining sector. Senior Management from individual companies will present at the event with ample opportunity to meet them afterwards at the drinks reception. Who should attend: This event is suitable for the informed private investors, private client brokers, fund and wealth managers. REGISTER NOW AT Thursday 1st December 2011 Hyatt Regency London The Churchill 30 Portman Square London W1H 7BH Registration: 5.30pm Presentations: 6.00pm followed by a drinks/canapés reception Companies Presenting: CONSOLIDATED AFRICA MINING plc Consolidated Africa Mining plc disposed of Sicamines sarl, its sole subsidiary (a heavy mineral sands exploration company in Cameroon) in November 2009, returning to PLUS-quoted shell status. For the best part of two years, it evaluated various natural resource projects, mainly in Africa, as candidates to reverse in as a new business for CAM, until in September 2011 it adopted a new strategy. This was prompted by the wealth of viable new projects it had evaluated, making it difficult to choose between them, and a desire to spread its risk rather than put all its eggs in one basket. Chairman & CEO Tony Butler will share this new strategy with you at the event. FLUORMIN plc Fluormin plc is focused on acquiring a significant share of the international fluorspar market in order to be a supplier of choice to American and European customers of fluorspar and to provide such customers with security of supply, variety of product quality and potential freight advantages from multiple producing plants in different geographic locations. The Company has a portfolio of fluorspar assets in South Africa, Kenya and Tunisia together with a significant interest in an international fluorspar trading company. Co-CEO Al Gourley, will talk at the event about the company's plans for making good use of its positive cash flow. NOSTRA TERRA OIL & GAS COMPANY plc Nostra Terra Oil & Gas Company plc is a fast growing, AIM traded oil and gas producer with projects in Oklahoma, Colorado, Kansas and Texas. The USA is going through an oil and gas boom at present as new drilling and recovery techniques expose exciting new reserves out of established hydrocarbon basins and Nostra is well positioned to take advantage of this. The company is debt free, raised £2m over the summer and signed a Standby Equity Distribution Agreement for up to £10m, giving the company the opportunity to quickly pin down highly attractive acquisition opportunities. Matt Lofgran, CEOwill be talking about the USA going through an oil and gas boom at present and how Nostra Terra is extremely well positioned to take advantage of the opportunities that are available and will be coming available. VANE MINERALS plc VANE Minerals plc is an explorer with copper and uranium projects in North America, supported by revenues from its producing gold/silver operations in Mexico. Utilising a team made up of leading industry professionals the Company's new CEO, David Newton, will explain how it is targeting porphyry copper targets in Southwest USA in addition to expanding its gold/silver operations in Mexico and exploring for high-grade breccia pipe targets in Northern Arizona and Utah REGISTER NOW AT Breakout over the next 2 sessions? Read Full Thread Reply
Posted at 19/11/2011 10:37 by howdlep Body Fluormin aims to become major mover in fluorspar market Mon 11:28 am by Ian Lyall Fluormin owns the Witkop mine in South Africa, as well as a 20 per cent stake in Kenya Fluorspar Very few people will have heard of fluorspar, fewer still will understand its importance in the modern world. However it is all around us. The mineral, also known as calcium fluoride, is used in the manufacture of aluminium, to produce Teflon that coats non-stick pans and to create the fluorocarbons used in fridges and freezers. It provides the fluorine found in toothpaste and is even a critical ingredient in the anti-depressant Prozac. The dynamics of the fluorspar market are interesting and changing all the time. China is the biggest producer, but output that used to be exported is increasingly being consumed domestically by manufacturers. Indeed, analysts predict the People's Republic may even become a net importer in the next five years. The rise in the value of acid grade fluorspar in the past two years reflects this changing supply and demand profile as it has gone from US$200 a tonne to above US$600. It has edged back a little to stabilise around US$500 as the global recovery has foundered. It is against this backdrop that AIM-listed Fluormin (LON:FLOR) is developing its business with the intention of becoming a major mover in the market for fluorspar. Formerly called Maghreb Minerals, its focus was lead and zinc mining until the sale of those assets to Glencore over the summer. Fluormin is now the embodiment of a strategy put together by the American hedge fund Firebird, which has spotted an opportunity in the fluorspar market. Major shareholder Firebird is hoping to emulate the success it had in uranium where it bought companies, private and quoted, as well as positions in the physical material itself. It was one of the first to spot that uranium stockpiles were being depleted and demand was outstripping supply. As we have seen, the same dynamic is at work in the fluorspar market. Annually around 5.5 million tonnes are produced. However the majority of that goes directly to chemical companies that own the mines. It means only around 850,000 tonnes of acid grade fluorspar is traded openly on the market. It is worth saying here that there are two forms of saleable fluorspar Acidspar, which accounts for the majority of global production, and lower-grade Metspar. Flourmin produces the former. It owns the Witkop mine in South Africa, as well as a 20 per cent stake in Kenya Fluorspar (KFC), and has a trading arm. Its trading operation is a crucial part of the business as it helps the group understand better current and annual requirements of its customer base. Eventually it should allow Fluormin to become a price leader in what is an opaque market. It is a strategy used to good effect already by Glencore, the big daddy of the commodity world, which combines its production and trading expertise to great effect. Sallies (including the Witkop mine) and KFC are all part of Fluormin's business acquired from Firebird in an all-paper transaction, which gives the hedge fund a 66 per cent interest of Fluormin. Fluormin now has around 63 per cent of Sallies, which is still clinging to a weak listing on the JSE, and is in the process of "squeezing out" the minority investors in that company. Steady state production from Witkop is expected to be 140,000 tonnes of Fluorspar a year. However, output is likely to be closer to 70,000 tonnes in 2011, according to the broker Westhouse Securities. Through Witkop, KFC and its FluorOne trading operation, led by Jeffrey Kofsky, Fluormin has exposure to 350,000 tonnes of the total 850,000 tonnes of fluorspar freely available on the open market. This is already a powerful market position. However the plan is to strengthen it further by acquisition, according to joint chief executive Al Gourley. He wants to take advantage of this rising demand, particularly from the emerging BRIC nations, voracious consumers of cars and white goods that require fluorine. And of course supply is constrained with only five major projects potentially coming on stream in the next few years. Finance has been a problem for projects targeting a commodity that has traditionally been low margin and cannot be hedged. However the economics are changing decisively in Fluormin's favour. At US$450 a tonne the company will achieve a 30 per cent operating margin and generate around US$20 million annually in cash, according to Westhouse. An obvious first move in the consolidation game would be to take full control KFC. After all KFC is on the lower portion of the cost curve at US$150 a tonne, while Witkop is at the upper end at more than US$300. "KFC is a natural opportunity for us to grow," says Gourley. "What we are trying to build is a horizontal player in what has been a vertical integration play. "In terms of acquisitions there is only a small handful. One has to be persistent and have access to capital." One of its other potential sources of growth arose from its transition from Maghreb to Fluormin and its disposition of two former base metal mines in Tunisia to the base metals arm to Glencore. In the transaction, it negotiated a potentially very lucrative deal, which entitles it to the fluorspar by-product from the mines at the incremental cost of producing it (which is expected to be nil or very minimal). Gourley explains: "Our own scoping study suggested originally that we would produce approximately 20,000 tonnes (of fluorspar). "We don't doubt that Glencore will double or triple the mining rate because it is Glencore. "So it is largely down to exploration as Glencore needs to double or triple the resource to justify the mining rate. "Finger crossed. If they succeed it could be a very valuable asset to us in a few years' time." The past two weeks has seen the share price jump by 50 per cent as the penny has finally begun to drop with investors. The managerial talent is there. Gourley, a lawyer by trade, has a background in fundraising and mergers & acquisitions, while co-CEO Mark Bolton brings big mining company experience from First Quantum Minerals. Kofsky, the marketing director, has two decades as a fluorspar trader. And, as we have seen, the market opportunity is significant. Even after the recent spike, the current 60 pence share price singularly fails to reflect the value of the business today, let alone its potential. City firm Westhouse Securities values the Sallies business at US$102 million, or 118 pence a share. "The company's fundamentals suggest that it is hugely undervalued at current prices," says analyst David Navas. Gourley adds: "I think when the world normalises, when the European crisis is behind us, when GDP growth returns, I think we could see a dramatic spike in the fluorspar price. "I think the next 18 months should be exciting for the company and we will likely see, as with rare earth minerals, more and more investors coming to understand fluorspar and the investment opportunity." Read Full Thread Reply
Posted at 16/11/2011 15:28 by tradervic Chance to meet the Co-CEO Al Gourley. From Shares mag Consolidated Africa Mining plc, Fluormin plc, Nostra Terra Oil & Gas plc and Vane Minerals plc Following the successful launch of MRQ Mining and Resources Quarterly, Shares Magazine is pleased to announce a series of investor evenings, specifically aimed at investors interested in mining and resources stocks. The aim of the Investor Evenings is to educate and inform investors about individual companies involved in the resource and mining sector. Senior Management from individual companies will present at the event with ample opportunity to meet them afterwards at the drinks reception. Who should attend: This event is suitable for the informed private investors, private client brokers, fund and wealth managers. REGISTER NOW AT Thursday 1st December 2011 Hyatt Regency London The Churchill 30 Portman Square London W1H 7BH Registration: 5.30pm Presentations: 6.00pm followed by a drinks/canapés reception Companies Presenting: CONSOLIDATED AFRICA MINING plc Consolidated Africa Mining plc disposed of Sicamines sarl, its sole subsidiary (a heavy mineral sands exploration company in Cameroon) in November 2009, returning to PLUS-quoted shell status. For the best part of two years, it evaluated various natural resource projects, mainly in Africa, as candidates to reverse in as a new business for CAM, until in September 2011 it adopted a new strategy. This was prompted by the wealth of viable new projects it had evaluated, making it difficult to choose between them, and a desire to spread its risk rather than put all its eggs in one basket. Chairman & CEO Tony Butler will share this new strategy with you at the event. FLUORMIN plc Fluormin plc is focused on acquiring a significant share of the international fluorspar market in order to be a supplier of choice to American and European customers of fluorspar and to provide such customers with security of supply, variety of product quality and potential freight advantages from multiple producing plants in different geographic locations. The Company has a portfolio of fluorspar assets in South Africa, Kenya and Tunisia together with a significant interest in an international fluorspar trading company. Co-CEO Al Gourley, will talk at the event about the company's plans for making good use of its positive cash flow. NOSTRA TERRA OIL & GAS COMPANY plc Nostra Terra Oil & Gas Company plc is a fast growing, AIM traded oil and gas producer with projects in Oklahoma, Colorado, Kansas and Texas. The USA is going through an oil and gas boom at present as new drilling and recovery techniques expose exciting new reserves out of established hydrocarbon basins and Nostra is well positioned to take advantage of this. The company is debt free, raised £2m over the summer and signed a Standby Equity Distribution Agreement for up to £10m, giving the company the opportunity to quickly pin down highly attractive acquisition opportunities. Matt Lofgran, CEOwill be talking about the USA going through an oil and gas boom at present and how Nostra Terra is extremely well positioned to take advantage of the opportunities that are available and will be coming available. VANE MINERALS plc VANE Minerals plc is an explorer with copper and uranium projects in North America, supported by revenues from its producing gold/silver operations in Mexico. Utilising a team made up of leading industry professionals the Company's new CEO, David Newton, will explain how it is targeting porphyry copper targets in Southwest USA in addition to expanding its gold/silver operations in Mexico and exploring for high-grade breccia pipe targets in Northern Arizona and Utah REGISTER NOW AT Read Full Thread Reply

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