Fluormin Share Discussion Threads

[dreggspicker] 01/2/2012 10:03

yeah baby, up we creep again this morning, howd, if me & the mrs did have 3% of this baby, it would be getting on for a quarter of the "free float" and I would be asking for a seat on the board ......
As for the "high wealth client" I do like teh sound of that, but I would rather like to play with my own dosh, not give it to a spotty-nosed kid who might flush it down the bog, ..... I can do that - without any help ..........

[howdlep] 01/2/2012 09:38

Morning dreggs,

As a high wealth Arbuthnot client, you must be buying big soon?

All this mot nonesense is a cover for that near 3% declarable holding?

Joking apart, I won't be offended if you buy lots at this level, as we just need to break 66p on the way up to that Westhouse 118p broker target. Upgrades to that figure may well come after the Q2 figures are published.

[dreggspicker] 01/2/2012 08:29

morning all, I am really looking forward to a break of the £1 level in the comming months ....... ":'}

[howdlep] 01/2/2012 08:22

Borisimo,

Thanks for posting that Independent article. With today's RNS as well, I am expecting a break of 66p in the coming days.

[howdlep] 01/2/2012 08:15

and the reason for the buying?

Well expect to see Arbuthnot clients buying ahead of Q2 figures!!

Re-organisation of Nominated Adviser and Broker

RNS
RNS Number : 5177W
Fluormin PLC
01 February 2012



Fluormin plc


Notification of re-organisation of Nominated Adviser and Broker


Following the completion of the acquisition by Westhouse Holdings plc of Arbuthnot Securities Limited on 20 January 2012, the business of Westhouse Securities Limited has been transferred to Arbuthnot Securities Limited. Simultaneously Arbuthnot Securities Limited is changing its name to Westhouse Securities Limited.

[dreggspicker] 31/1/2012 16:31

nice to see a bit of buying today, price sooooon gets pushed up ........

[dreggspicker] 31/1/2012 08:40

all good stuff Borris, every little helps as they say; Just got to wait for the update, etc ............

[borisimo] 30/1/2012 21:14

Nothing new here really.....but wider exposure is good.

From -

Fluorite miner gets teeth into South African operation

Fluorspar, or fluorite, is not a mineral with which many people will be familiar, but it is used in products ranging from toothpaste to non-stick frying pans, as well as in industrial processes such as aluminium manufacturing. And one of its leading producers is a British company listed on the Aim.

Fluormin got its listing through a reverse takeover of Mahgreb Minerals last September, and has assets in South Africa and Tunisia.

In the latter country, the miner already has agreements in place with the commodities giant Glencore, but the latest news concerns its operation at the other end of the continent. It now owns 97 per cent of its flagship mine in South Africa, having just moved closer to the complete takeover of Sallies, the miner on the ground there (having bought all its ordinary shares, Fluormin is now mopping up its debentures).

The positive news has helped the company to hold on to the gains it has made since the shares dipped below 40p in November, with the stock now trading at 58p.

[dreggspicker] 26/1/2012 12:06

howdlep, send a email to Al, I am sure you will get a response, but I don't think they will do it earlier............

[howdlep] 26/1/2012 11:44

Come on dreggs, its time for you to exert your influence and get management to publish those Q2 figures a little earlier than next month.

Yes, yes, patience I know!

[dreggspicker] 23/1/2012 13:29

Yes very good news, only diluted by about 100k of shares .....

[howdlep] 23/1/2012 13:23

I am happy the majority have gone for cash. No drip feeding of shares into the market and more future dividends (EPS) for you and I!

[godolphin] 23/1/2012 13:09

They have now. Most going for the cash - about £2.2m in all.

[vauch] 23/1/2012 12:51

So why have FLOR not posted the news.

[grollfam] 23/1/2012 12:43

SALD - Sallies Limited - Results of Fluormin`s offer to acquire Sallies
debentures
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
JSE Code: SALD ISIN: ZAE000117305
("Sallies" or "the Company")
RESULTS OF FLUORMIN`S OFFER TO ACQUIRE SALLIES DEBENTURES
Debenture holders are advised that as at 17:00 on Friday, 20 January 2012,
being the closing date of the unconditional mandatory offer ("the Offer") by
Fluormin Plc. ("Fluormin") to Sallies debenture holders contained in the
Circular dated 1 November 2011, valid acceptances of the Offer had been
received in respect of 56,492,972 Sallies debentures, representing
approximately 39.16% of the Sallies debentures. 1,593,892 acceptances were
received in respect of the Stock Consideration and 54,899,080 acceptances
were received in respect of the Cash Consideration. Accordingly, and in terms
of the Offer, the cash payment to be made by Fluormin to Sallies debenture
holders will be R27,449,540 and the total number of Fluormin ordinary shares
to be issued to Sallies debenture holders will be 102,950. Pursuant to the
implementation of the Offer the number and percentage of Sallies debentures
held by Fluormin has increased from 83,412,850 (57.83%) prior to the
implementation of the Offer to 139,905,822 (96.99%) post implementation of
the Offer.
23 January 2012
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 23/01/2012 14:00:02 Supplied by www.sharenet.co.za

[dreggspicker] 23/1/2012 11:06

Don't forget the Ziriba old mine & the Glencore off take agreement + Kenya,+ cash in the bank, circa £15m - £20m cash, should they not have spent it by now on a new asset .............. ;+}
dreggs

[kiwimonk] 23/1/2012 10:02

Cheers Dreggs,
So we're talking 3mt of Contained - Ok.
I followed them closely in MMS days.
Should be a highly profitable operation.

KM

[dreggspicker] 23/1/2012 08:33

Witkop Fluorspar Mine

Witkop Fluorspar Mine ("Witkop") commenced operations in 1972. With the exception of periods of suspension Witkop has been producing and selling acid grade fluorspar since that time. Witkop is located 18km south of the town of Zeerust in the North Western Province of South Africa, approximately 250km northwest of Johannesburg.
Following extensive refurbishment and upgrading, the mine recommenced production in March 2011. Witkop plans to mine at a production rate of approximately 1.5Mtpa ROM, producing an average of 140,000tpa of acidspar over a 10 year LOM plan.
Product is sold via the deep water port at Durban and is dispatched to Durban by train from the Company's rail-siding.
Resources
The mineral resource estimate for Witkop is set out below and is classified in accordance with the SAMREC Code. It was prepared in February 2011 by Mr Jansen, an independent geological consultant, and subsequently reviewed by Coffey Mining in the preparation of the CPR contained in the AIM Admission documents (September 2011). Based on the data and the methods used, Coffey considers the mineral resource estimates to represent a fair estimate of the mineralisation. The SAMREC compliant mineral resource is tabulated below.
Witkop Fluorite Mine
Summary of the Mineral Resources (March 2011)
9% CaF2 Cut off grade applied
Resource Category Tonnage (Mt) Grade CaF2 % Ore Type
Measured 20.60 13.1 Algal Ore
Indicated 39.00 13.5 Algal Ore
TOTAL Measured and Indicated Resources 59.60 13.4 Algal Ore
Inferred - - Algal Ore
Inferred 0.77 29.4 Wad Ore
TOTAL Inferred Resources 0.77 29.4 Algal and Wad Ore
Notes Mineral resources are estimates for which uncertainties are conveyed through rounding of figures presented in the table.
Mineral Resources are reported inclusive of mineral reserves

Reserves
The Mineral Reserve declaration in accordance with the SAMREC Code is presented in the table below:
Witkop Fluorite Mine
Summary of the Mineral Reserve Estimate for Witkop (January 2011)
Tonnage (Mt) Grade CaF2 (%) Contained CaF2 (t)
Proved Reserves 14.8 11.8 1,754,000
Probable Reserves
Notes The tonnage and grade reported for the Mineral Reserves are based on 16per cent dilution of between 3.2per cent and 5.6per cent CaF2 with geological and mining losses of 5per cent as estimated by Witkop..

Sallies owns 74% of Witkop with the remaining 26% owned by Sallies' Black Economic Empowerment partner.
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Witkop
Kenya
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Glencore Offtake
Buffalo
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Witkop Fluorspar Mine

Witkop Fluorspar Mine ("Witkop") commenced operations in 1972. With the exception of periods of suspension Witkop has been producing and selling acid grade fluorspar since that time. Witkop is located 18km south of the town of Zeerust in the North Western Province of South Africa, approximately 250km northwest of Johannesburg.
Following extensive refurbishment and upgrading, the mine recommenced production in March 2011. Witkop plans to mine at a production rate of approximately 1.5Mtpa ROM, producing an average of 140,000tpa of acidspar over a 10 year LOM plan.
Product is sold via the deep water port at Durban and is dispatched to Durban by train from the Company's rail-siding.
Resources
The mineral resource estimate for Witkop is set out below and is classified in accordance with the SAMREC Code. It was prepared in February 2011 by Mr Jansen, an independent geological consultant, and subsequently reviewed by Coffey Mining in the preparation of the CPR contained in the AIM Admission documents (September 2011). Based on the data and the methods used, Coffey considers the mineral resource estimates to represent a fair estimate of the mineralisation. The SAMREC compliant mineral resource is tabulated below.
Witkop Fluorite Mine
Summary of the Mineral Resources (March 2011)
9% CaF2 Cut off grade applied
Resource Category Tonnage (Mt) Grade CaF2 % Ore Type
Measured 20.60 13.1 Algal Ore
Indicated 39.00 13.5 Algal Ore
TOTAL Measured and Indicated Resources 59.60 13.4 Algal Ore
Inferred - - Algal Ore
Inferred 0.77 29.4 Wad Ore
TOTAL Inferred Resources 0.77 29.4 Algal and Wad Ore
Notes Mineral resources are estimates for which uncertainties are conveyed through rounding of figures presented in the table.
Mineral Resources are reported inclusive of mineral reserves

Reserves
The Mineral Reserve declaration in accordance with the SAMREC Code is presented in the table below:
Witkop Fluorite Mine
Summary of the Mineral Reserve Estimate for Witkop (January 2011)
Tonnage (Mt) Grade CaF2 (%) Contained CaF2 (t)
Proved Reserves 14.8 11.8 1,754,000
Probable Reserves
Notes The tonnage and grade reported for the Mineral Reserves are based on 16per cent dilution of between 3.2per cent and 5.6per cent CaF2 with geological and mining losses of 5per cent as estimated by Witkop..

Sallies owns 74% of Witkop with the remaining 26% owned by Sallies' Black Economic Empowerment partner.
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Not JORC-ed but SAMREC at 1,754,000 tonnes proven with the rest probable .....

dreggs

[dreggspicker] 23/1/2012 08:25

Forgot it is on Fluormin web site:

Witkop Fluorite Mine

Summary of the Mineral Resources (March 2011)
9% CaF2 Cut off grade applied
Resource Category Tonnage (Mt) Grade CaF2 % Ore Type
Measured 20.60 13.1 Algal Ore
Indicated 39.00 13.5 Algal Ore
TOTAL Measured and Indicated Resources 59.60 13.4 Algal Ore
Inferred - - Algal Ore
Inferred 0.77 29.4 Wad Ore
TOTAL Inferred Resources 0.77 29.4 Algal and Wad Ore


So total reserves at 13% is around 20m which is confirmed with another 39m which is probable; which is well over 3m fluorite con.

so no worries
dreggs

[dreggspicker] 22/1/2012 20:20

Kiwimonk, at the EGM, I did ask what the reserves are at Witkop and I think at the time I was told around 3m tonnes of fluorspar, of reserves but I did not press if it was JORC but I may be wrong, also I was told the deposit being volcanic in origin, they fully expect this to be increased in time as it is not a vien but a flat deposit over a wide area, which has large "pods" at 10% to 12% rich, and they implied there will be enough to mine at that percentage for many, many years, I know that may sound vague to you but I am cool with it ....
ps, if you are new to this share do not believe the figs from ADFVN, they are very wrong, the market cap is not right; There are about 56m shares at 60p is about £33m

NOT.... 118m shares & mcap of £68m !!

Makes the approx 15 - $20m "profit" all being well for the year very healthy I feel.....
But I suspect it will be all ploughed back in the co ............

dreggs

[howdlep] 22/1/2012 18:35

JONNO1,

Trade upgrading the scale to 100% on that pdf and you will notice a very small decimal point. The share price is 60.0p, not 600p!

[jonno1] 22/1/2012 10:27

howdlep -

why does that article say 600p share price?

[kiwimonk] 22/1/2012 10:20

Dreggs

Do you know how much contained Flourite they actually have jorc'd up in tonnes?
cheers
KM

[howdlep] 20/1/2012 09:56

watch out for any director buys over the next week or so, before the close period for Q2. I wonder also, as you eluded to, whether management are working on an acquisition?

[dreggspicker] 20/1/2012 08:08

glad you are cool about it howdlep, we should have had it in this month,and they did say sorry about the delay .....