Ly Emu Small Discussion Threads

[borisimo] 10/2/2011 10:18

So this is why Firebird want all that fluorspar :)

[godolphin] 10/2/2011 08:47

The old regime at Sallies were keen on rare earths at one stage, but the Firebird management have said it's just experimental and keeping a low profile.

[borisimo] 09/2/2011 22:19

So it seems that using the cost approach and principle of 'successful endeavors' BFM should be worth @31 mil Rand, but as there is no current licence they are valuing it at zero based on fluorspar pricing assumptions as of 01 October 2010.

Or did I get the wrong end of the stick?

[borisimo] 09/2/2011 21:59

Nice one sy,

looks like some uranium and rare earths in there as well...

page 6 in the para begining 'Other accessory materials include...'

[suits you] 09/2/2011 21:00

....... and now the CPR and valuation on Buffalo dated 01 Oct 2010

[dreggspicker] 08/2/2011 07:26

just heard a rumour that a big mexican producer, (no name) has stopped production in two of it's mines due to a too high silica content; can't see anything out there to substantiate this other than it comes second hand from a past ore feeder to caverndish mill derbyshire; But if true this will only tighten supplies.........

[suits you] 07/2/2011 22:35

dreggs

Out there, in the ether, the wonders of the tinternet ... lol

Think Davidoff has gone in there, stripped out the wheat from the chaff, new management, reduced staff costs, tighter product control etc etc. A weaker rand would be a bonus.

[dreggspicker] 07/2/2011 22:16

bloody 'ell Suits where did you find that!
Mine tonnage and grade would in theory give about $40m gross per year,
In my head, costs of around $100 plus a large amount of leeway, say an extra 50%, say $150 would mean profits of $20m, on a $300 per tonne
(if my calcs are right) DYOR

[suits you] 07/2/2011 20:56

CPR and Valuation on Witkop dated 23 SEP 2010, very up to date info !!



BTW current Rand to $ is 7.229

Can't remember if this link posted before, dated end Nov so things moved on a pace but none the less makes interesting reading together with CPR above and also nice photo of MMS's new Chairman Nicholas Davidoff.



Nice mention also in article on " The possibility of nuclear having a pricing upside is seen as "quite real", given fluorspar's link to uranium enrichment "

[suits you] 06/2/2011 22:46

Dregs, ok, no problem.

Borisimo

Think we will see quite some volatility on relist, where it will settle is anyones guess and IMO will very much depend on selling and buying volumes.

We have raised cash and lent some to Sallies, acquired 20% of KFC who have restarted production. We will have 78% of Sallies and on the road hopefully to 100%. It looks like Sallies are planning to restart operations at Witkop and from info provided are currently trying to negotiate supply contracts.

We will have to see what the market thinks and also see if the remaining Sallies shareholders will be long term holders of their MMS stock (if they accept)

[dreggspicker] 06/2/2011 21:26

Suits, I was not thinking you were thinking that way, I was just making a general point about how alot of peoples mindsets can be.....

[borisimo] 06/2/2011 21:03

SY,

presumably you are expecting an share price increase on re-listing. I hope that is the case but have no idea what to expect.

WOuld you care to speculate on what will happen when this relists?...anyone

[suits you] 06/2/2011 20:34

You miss the point Dregs, nothing of what I saying is negative, quite the opposite and I doubt on relisting we will see anything like current share price levels. We will all benefit from JP's investment style.

With Sallies, Firebird tried before and could not get outright control at price offered at the time. The MMS offer may fair better. It does not take away the 78.3% now held by MMS but if the remaining shareholders will not sell at the offer price, they will either have to up the offer or just carry on as the main majority shareholder, they need at least another 11.7% to evoke the mandatory acceptance of the remaining 10%. We must presume Firebird kept Sallies listed as was probably easier to obtain the remaining shares.

"This transaction represents a major step in the implementation of Maghreb's stated strategy of acquiring significant assets in the fluorspar sector internationally to enable it to develop critical mass in the sector. We hope that the minority Sallies' shareholders will soon join Maghreb and strengthen our shareholder base and we will be reaching out to them as soon as practicable."


We have to remember this transaction and KFC is only a housekeeping matter for Firebird as they are the majority shareholder in MMS and control the board. So in effect they are transferring assets between Co's they own. All to the benefit of current and future MMS shareholders.

I also believe at some stage in the future there will more Firebird Fluorspar assets heading our way to "develop critical mass in the sector"

[27macca] 06/2/2011 11:35

Any idea when MMS will be back trading??

[dreggspicker] 06/2/2011 11:18

Of course Firebird have & trying to acquire assets on the cheap, that's what we all hope to do,is it not?
The main thing people should remember we have all had the chance to buy more shares in both mms & Salies come to that, and if Firebird had not turned up, then it would be the receivers doing the selling, then we all would have had nought......

[suits you] 04/2/2011 22:21

Unrelated to MMS, it does show how JP and Firebird operate, although in a round about related way, Firebird do already own around 26% of a Mongolian Fluorspar Co.

Page 8

[suits you] 04/2/2011 21:47

No problems, have predicted here for a very long time that Firebird would use MMS as a vehicle for a Fluorspar Co RTO. It took much longer than I thought, but looks like we have got there.

Do not think it will stop there either, Firebird are sitting on other Fluorspar assets.

Have also said many times, forget about Zinc and Lead, Firebird are not interested in funding Zinc & Lead, otherwise they would have done it already. If you trace back far enough on this BB, you will see my comments. IMO JP will sit on Zinc and Lead until the right offer comes up, either a JV or outright sale. He has a history of buying things on the cheap, not selling them.

[borisimo] 04/2/2011 21:18

Suits You,

Apologies if my post was 'ungrateful' (bad day on CRND),

I am grateful for any sensible comment on this board as sometimes it is possible to hear the tumble weed blow through. I look forward to reading the links that you posted as yet haven't had time.

B

[suits you] 04/2/2011 21:00

See item 2 in link below from the last time Firebird tried to make an offer for the shares it does not own in Sallies, it needs 9 tenths, then last 10th can be compulsory acquired. So MMS need to capture at least 9 tenths to take full control.



Notice who the legal advisors to Firebird are, namely Fasken, who is top dog at Fasken, namely Albert Gourley, who is on the board of MMS

BTW

My post on the BEE transaction was not meant to be negative as it had the full support of Firebird, the BEE transaction/investments were also not directly in Sallies itself but in Witkop and Buffalo, seperate Co's owned by Sallies. It was aimed at highlighting the value placed on the deal, which is interesting, to say the least and does indicate how cheaply Firebird (and now MMS) may have acquired its interests in Sallies and also why some remaining shareholders may not be happy bunnies.

[suits you] 04/2/2011 07:10

Borisimo

All I am saying is that there must be ongoing negotiations with remaining shareholders afterall last time Firebird tried to capture Sallies they got some acceptances but not all. I have been here for 5 years and have watched every move with anticipation since Firebird climbed onboard.

There are probably a few shareholders who think Firebird in effect through MMS are taking control of Sallies very cheaply. As I have said before, this is what JP and Firebird do best, buy very very undervalued Co's on opportunistic terms.

Some history for you can be found here

[rmart] 03/2/2011 23:38

godolphin,

it is all quiet over at tomco, how are you feeling about it. Are you confident they will re list ?

[borisimo] 03/2/2011 23:14

Sallies article is from Mon, 26 Jul 2010.

[bookiebuster] 03/2/2011 21:54

Fluors'R' Us