Fluormin Share Discussion Threads

[dreggspicker] 30/3/2012 14:24

But going forward things look better (if they can maintain it)

In the update:

"Production for January and February averaged 6,176 dmt per month. Reflecting the RC drill programme and improved plant availability production improved to 7,604 dmt in March 2012."


So there has been a improvement this month, and if/when the ore sorter makes a improvement of say 20%, then we are laughing , ha ha ha
I hope ......

[bam bam rubble] 30/3/2012 14:16

Looks like the results will get worse before they get better

Jul-Dec 2011 averaged 7,781 MT/month at $429/ton

Jan-Mar 2012 averaged 6,652 MT/month (-14.5%) with lower prices expected

[dreggspicker] 30/3/2012 14:14

perhaps they are playing it blacker so as to book a large loss so the asset sale is not taxed,and going forward not as bleak ?? ......

[dreggspicker] 30/3/2012 13:48

increased ore production, better water and power situation, and hopefully two ceo's cracking the whip down in SA,(with their own dosh in it ) no need to worry about being taxed on the Kenyan sale ..... Erm, any more...... anyone ??

[borisimo] 30/3/2012 12:31

Can anyone see anything positive in any of this. I guess if the scoping study says 'no' the viability of the mine is in question ?

Potentially some of the staff changes might be having a positive impact which could be feeding through?

[mike_f] 30/3/2012 12:19

Don't think so Undertaker. See someone is taking advantage of the fall today 2400 buy at 36.9p

[godolphin] 30/3/2012 11:53

Water, electricity problems on top of everything else. I think I'll steer clear of SA investments in the future. Oh - just realised I have as a load of WET!

[undertaker] 30/3/2012 10:57

can we ISA this?

[mike_f] 30/3/2012 10:54

£20M mcap and about £15M in cash. £5M for the projects? Even with the downturn in Flourspar prices that seems a little harsh...

[mike_f] 30/3/2012 10:07

Good read:

[eddie catflap] 30/3/2012 09:22

Only a residual interest here, so very little research done.

However, found this info which appears a little contradictory....

Re: Tertiary, from Jan 2012....
Fluorspar prices remain high
The fluorspar industry remains tight and as at 10 January 2012 the average price of
acidspar was unmoved at US$600 per tonne. As a result we remain confident that the net
present value of US$244 million and internal rate of return of 78 percent mentioned in our
October Initiation Report are still applicable to the Storuman Project.

Linky:

GLA

[mike_f] 30/3/2012 09:19

Been keeping an eye on this. Nice entry level today for anyone going long. Fall seems a bit overdone considering the market already knew most of that content...

[backmarker] 30/3/2012 08:57

let's hope we can make a fortune from the trading activities, then :-o

[howdlep] 30/3/2012 08:35

agreed dreggs. Thankfully the cash position is very strong, as raising money would be a problem in the current environment.

[dreggspicker] 30/3/2012 08:31

also looks like we are going to have a hairy ride on the share price ..

[dreggspicker] 30/3/2012 08:30

Damn, just seen the report, looks like plant improvement has to be the priority, cost per tonne now at $366, having said that the extra push of overburdon removal is in this period which has added to the cost which must be reflected in this period, also those pesky Chinese are digging too much of the stuff.
On the positive side new projects around the world will have the shine taken off them and could well not be going ahead .....
dreggs

[howdlep] 30/3/2012 07:55

the decline in production and review in plant efficiency was already known and under review. See the previous production update. Now management have to deliver based on the findings of that review. At least they are cash rich and do not have to raise money. Please note, the recent asset sale was completed after these financial results

[vauch] 30/3/2012 07:07

And now u wished that u had not seen them.

[howdlep] 28/3/2012 15:06

not long to wait for those results now and an assessment of progress at Witkop

[dreggspicker] 26/3/2012 16:11

I have asked the co if large lumps of rock are crushed, as I have seen digger workers do this in the uk, they will shovel up anything, and I was told the management at Witkop are spending alot of effort in raising the quality of the ore ....

[richie07] 26/3/2012 13:49

Thanks, Dreggs. Fingers crossed too...!

[dreggspicker] 26/3/2012 13:32

I am expecting the results of the "electronic ore sorter" which is being done in Germany,at any time, fingers crossed it will work .......

[richie07] 26/3/2012 12:20

Seems very quiet here. Are we expecting much from the upcoming scoping study & 6 month results expected by month end?