Fluormin Share Discussion Threads

[dreggspicker] 17/10/2012 08:20

I disagree with you Bam Bam, yes they could have sold up, but that was not the objective, yes things have not gone well, but there should be at least $20m in the bank by the time the stock pile has been sold, with time on our side as it looks like there will be a world shortage come 2014, thats why we have stopped production now imo ......

[bam bam rubble] 16/10/2012 21:36

New all-time low today (Maghreb Minerals never went below 25p / 1p old price)

The disposal of Maghreb assets to Glencore in 2011 plus residual cash meant they had in the region of 88p per share at that point. Take off a little for tax, admin etc and there should have been 80p cash for shareholders if they liquidated the company there and then. Instead the reigns were handed to hedge fund Firebird who used this listing to get them out of a fix at suspended JSE stock Sallies through a merger and taking over the failed Witkop mine. Following which the cash pile has slowly been extracted out of the company through cash outflows. Once the cash is down to zero the stock can be quietly delisted.

[dropside] 12/10/2012 16:15

The right decision for the business, if not the short term share price. Fixes the cash position in the business while they continue exploring Valley and other areas (re todays RNS) for better grades. Tough decision to make, the market was never going to like it, but the right call.

[dreggspicker] 12/10/2012 08:27

well, there is the stock pile circa 12kt? At say $400pt = $4.8m or at $350 = $4.2m, that should tidy a few things ...... Fluorite prices where I look still seem to be good, but of course they know more than me ..

[backmarker] 12/10/2012 08:11

RNS today re. Witkop closure

bad news, and suggests Witkop will need much higher prices to be profitable.

I wonder if we're making any money from our trading arm ?

[dreggspicker] 12/10/2012 08:08

Dam, never thought it would come to this, this time last year, looks like we are in for a long road; still at least we have cash in the bank, for now .....

[dreggspicker] 02/10/2012 19:16

A rival co in the usa says the current acid price is $550-600 with exports from china expected to fall substantially in the near term ............

Dated 25th september 2012

"Current prices for acid grade fluorspar are at a high of $550-600/tonne (Industrial Minerals Magazine). Exports from China – the dominant fluorspar producer – are decreasing due to export taxes, increased domestic consumption and depleting supply."



You may say I am a fool but I am hoping to see a upturn in our future too .....

[dreggspicker] 02/10/2012 13:57

Well, we will be getting the FY report soon so we will see what improvements have been happening recently ..............

[bam bam rubble] 02/10/2012 13:50

The mine is not viable so I believe the company will go bust

[richie07] 02/10/2012 13:46

can this go sub 10p?

[vauch] 19/9/2012 06:52

yep £740.000 will last about how long?

[dropside] 18/9/2012 19:28

lol.

Don't know what Buffalo was valued at on the books, not much I suspect. This is a good bit of tidying up and the proceeds are a nice addition to the cash pile.

[dreggspicker] 18/9/2012 19:24

I think the bull needs some steroids!

Still, care and maintenance must be some sort of a drain if there are personal there, so good bye; you just have to wonder who has bought it, there is a enriched "rare earths" at the deposit, but it is of a very low grade ..........

[backmarker] 18/9/2012 16:59

will someone please wake up the bull.......

[grollfam] 18/9/2012 15:05

IS THIS THE START OF A BULL RUN ???????????? NOW THAT BUFFALO HAS BEEN SOLD ???

Fluormin PLC

18 September 2012

Fluormin plc

("Fluormin" or the "Company")

BUFFALO PROJECT DISPOSAL

LONDON, UK -- (Marketwire - 18 September 2012)

Fluormin Plc (AIM: FLOR) announces the disposal of the Buffalo Fluorspar Project ("Buffalo") for the aggregate consideration of ZAR 10,000,000 (GBP0.74 million) (the "Consideration").

Buffalo has been on care and maintenance since 2008 with no immediate plans to reopen.

The Consideration is payable in two instalments comprising the immediate payment of ZAR 7,000,000 million upon settlement and a further ZAR 3,000,000 million in May 2013.

Mark Bolton, Company CEO, commented "The disposal of Buffalo is an important step in our efforts to rationalise the Company's operations and further strengthen its balance sheet."

About Fluormin Plc

Fluormin is a producer of acid grade fluorspar, an industrial mineral widely used in the chemical and aluminum industries for the making of products such as HFCs (Hydrofluorocarbons used as refrigerant gases like Freon (TM)) and aluminum fluoride.

Contact Information


Fluormin plc

Mark Bolton, Chief Executive Officer [phone] ,

[dropside] 15/9/2012 17:35

James, I would not want to create any hostage to fortune! A good starting point is the H1 result. The years corporate activity will have as big a bearing on the P&L result as mining fluorspar. More interesting than the P&L at this stage is the cash position, which they have told us, and the transition point from negative to positive cash flow, which they haven't.

[jamesiecakes] 14/9/2012 15:44

What profit/loss are people expecting and why?

Cheers

James

[dropside] 14/9/2012 14:32

The fall has been on very low volumes, not much selling pressure.. but then not much buying either! I think if they were going to shut down the mine they would have done it by now, they are well on (it would appear from last rns) with looking for better feed-stock for the processor. I was impressed how much they produced last quarter given the grade was 7.6%, bodes well for when they get into better grade material, the CPR shows the grade should be much better for the mine as a whole.

[howdlep] 13/9/2012 21:12

Hi dreggs,

First time on the thread for a while. share price performance not good. I still hold some, albeit much reduced. The next update should be revealing.

US QE3 offers a great oportunity for companies to bring out a good RNS tomorrow at 7am. I hope all my stocks do!

[bam bam rubble] 13/9/2012 14:38

A care and maintenance decision on the loss-making mine looks increasingly likely

[dreggspicker] 13/9/2012 13:56

yep, I'am hanging on to my seat .......