Fluormin Share Discussion Threads

[dreggspicker] 27/2/2013 17:33

Nicked from poster metex on tym, it is nearly a year out of date, but I don't recall seeing it before, I don't agree the idea of integration being a cost saver - it just means you have all the risks of mining but none of the profits if you mine yourself and not put any margin on it .......

[dreggspicker] 27/2/2013 08:35

HaHa, if I didn't think you were pulling my leg, I would slap you ....... ;+}

[dropside] 26/2/2013 21:57

Dreggs, you sure know how to live!

[dreggspicker] 26/2/2013 19:28

thats a very good point drops,it had slipped my mind, we are 2 mths farther on, I feel a lot happier about the 7.9m - that as you say was at 31.12.12 :+]

I have been spending the last 2mths rebuilding our kitchen/pantry,in the evenings, time flies........

[dropside] 26/2/2013 19:17

Dreggs, I am good thank you, hope you are too. I am sure the inventory is sold now, don't forget these figures are as of 31 December 2012. Maybe they got more for the inventory than the carrying book value?

[dreggspicker] 26/2/2013 19:09

don't forget Witkop has a crusher plant capacity circa 1m tonnes per year, brand new they cost $100m !!!!!!!

[dreggspicker] 26/2/2013 19:04

Hi Dropside, hope you are well; These weeks keep flashing by....

It does suggest they are having a real good poke around, it seems to be of good promise, if we could just get the grades to say 15% then we would be laughing ......

As regards the inventory, I would have thought it would be all shipped out by now, but obviously not ....

Does anyone know anything about Glencores progess in Tunisia, zinc is robust,it is about time they started digging for it and giving that lovely fluorite to us for free ;+)

dreggs

[dropside] 26/2/2013 17:37

Dreggs, yes about £15m plus whatever they get for the yellow goods.

However the wording does suggest doing something with Witkop, looking beyond the care and maintenance.

[dreggspicker] 26/2/2013 14:19

Sorry, that does not to have pasted right, all the columns are squew wiff....

[dreggspicker] 26/2/2013 14:17

Half yr report out;



Must say I was expecting a higher bank balance, £7.9m but we still have a inventory of £5m plus trade receivables of £1.6m plus the cash, so about £15m if both can be turned into cash ......



Consolidated statement of financial position

As at 31 December 2012


Un-audited Un-audited Audited
31 December 31 December 30 June
2012 2011 2012
Note GBP'000 GBP'000 GBP'000

Non-current assets
Mineral rights - 711 -
Property, plant and equipment 6,835 6,072 8,105
Investments 1,081 2,600 1,451
Interest in joint venture - 139 -
------------ ------------ --------
7,916 9,522 9,556
Current assets
Inventories 5,134 4,172 4,435
Trade and other receivables 1,626 1,249 6,416
Loans to affiliated companies 1,237 1,253 1,281
Cash and cash equivalents 7,923 8,197 7,666
------------ ------------ --------
15,920 14,871 19,798

Current liabilities
Trade and other payables (625) (1,704) (2,204)
Borrowings - - (162)
------------ ------------ --------
(625) (1,704) (2,366)
Liabilities classified as held
for sale 5 (1) - -
------------ ------------ --------
(626) (1,704) (2,366)

Net current assets 15,294 13,167 17,432
------------ ------------ --------

Non-current liabilities
Provisions (2,168) (3,912) (3,841)
Deferred tax liability (744) - (779)
Debentures - (3,232) -
------------ ------------ --------
(2,912) (7,144) (4,620)

Net assets 20,298 15,545 22,368
============ ============ ========

[dropside] 31/1/2013 20:47

Good luck to anyone in TYM but it does not make sense at all that they have a larger market capitalisation than Fluormin.

[dreggspicker] 31/1/2013 11:22

Not that I would want to wee on anyones parade, but I don't get TYM recent rise, yes they have prospect in Nevada, but it is of low grade,about like us at Witkop, been worked on in the past by Dupont or someone, is in the middle of nowhere and crucially no plant there. I was told at our agm it costs around $100m to get a new plant up and running to crush 1m tonnnes of ore which they would need ...... we have one at Witkop moth-balled and ready to get back in action....... for free!!

[dropside] 30/1/2013 20:44

Thanks dreggs. Prices moving in the right direction, lets hope it keeps going, certainly the Chinese economy is looking better these last few months.

[dreggspicker] 30/1/2013 08:45

could fluorspar prices finally be turning back up?

[dreggspicker] 21/1/2013 19:56

I think you are on a mac, well your monitor should work without you doing much if anything, I think............

[dropside] 21/1/2013 19:46

Ah Good- I have disabled it too, not noticed anything not working so far, maybe thats why.

[dreggspicker] 21/1/2013 19:34

even though I have upgraded the mac, put the latest java on I was concerned about the security, so I removed java, disabled java in the mac window just to make sure, but to my surprise the monitor was still working!! after much head scratching I arranged to have the mac wiped clean and start again then I had a look to see if I had a response to the advfn problems thread, and my monitor works because just for macs ADVFN have automatically replace java is by http or something, which means NO JAVA Hurrrrrahhhhhhh
dreggs

[dropside] 19/1/2013 12:48

Tweet from Simon Moores

Simon Moores ‏@sdmoores
Chinese fortunes begin to turn for #graphite and #fluorspar - price rises for first time in 20 months. @indmin story to come...
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3:52 AM - 18 Jan 13 · Details

[dreggspicker] 17/1/2013 08:37

dropie, Java 6 is not going to be upgraded, my system will not take Java 7 upgrade, this is madness when my mac is only just over a year old!!

[dropside] 16/1/2013 20:20

Thanks dreggs, I had largely ignored it... I found it was not that difficult to do on a mac even though I am a complete technophobe.

Wonder when Fluormin will make that deal?

[dreggspicker] 16/1/2013 19:42

google it, it will tell you all you need to know undertaker, big security risk,you use it to see the ADVFN monitor & porti, I recomend disabling Java on your computer, my mac that is only 18mths old but there won't be a mac update for my system ... too old!! bad people could get all your passwords and bank details ..... latest fix is still well dodgy..... I don't like things like that, makes me worry ......

[undertaker] 16/1/2013 18:20

what was the Java scare?

[dreggspicker] 16/1/2013 14:02

ok who's buying when they hit 15p?

ps, I am still not using ADVFN monitor or porti with the Java scare; are any of you? I have Java disabled. Might even pack-up being a bluey, no point if I am not using the streamer, anyone have a monitor type website that does not use Java?
dreggs

[dreggspicker] 15/1/2013 18:17

yep circa £4k sells & it drops 8% !!

[pisces4] 15/1/2013 16:44

oh well ,a bit of profit taking is the idea after all,onwards and upwards little florists !