# FMJ - Fortis Mining



## Miner (15 December 2010)

This one is likely to be listed on 15 Dec and reportedly got oversubscribed
http://www.fortismining.com.au/fortis_inside/fortis_projects.html


http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=FMJ

EXTRACT from AGE as published in Fortis website

Fortis IPO near to closure as Macquarie, RBS weigh in 

Mathew Murphy 
November 22, 2010 

FORTIS Mining, a Melbourne-based explorer focused on gold and base metal prospects in Western Australia, is expected to close its initial public offering early with financial heavyweights Macquarie Bank and RBS Morgans tipped to snap up the bulk of the issue.


Fortis opened its offer two weeks ago to raise $4 million at 20 ¢ a share. Within four days, two-thirds of the shares were snapped up with directors believing the offer will close before its December 1 expiry date. Macquarie and RBS Morgans are expected to each receive $1.5 million worth of shares for clients.


Fortis executive chairman Jitto Arulampalam said brokers in Sydney and Melbourne were enthusiastic about gaining exposure to a West Australian resources play.

''Being based in Melbourne has certainly helped things progress,'' Mr Arulampalam said. Often, if there was a good prospect out of Western Australia, the east coast brokers rarely got a look in, he said. ''So I think it explains some of the interest around this one.''


Four of the company's five tenements lie along the strike that extends to major deposits such as Newmont's producing Jundee gold mine and Barrick Gold's Centenary gold mine.


The main play of Fortis is its own Jundee gold and base metals prospect, which is what the funds will be used for. A geologist's report has highlighted 11 targets for drilling.


It is believed that the company is also looking at opportunities in North America and Asia.


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## jpot10900 (6 February 2011)

_Sydney, Feb 2, 2011 (ABN Newswire) - Fortis Mining Limited (ASX:FMJ) has entered into a strategic partnership alliance with Hong Kong investment company Grand Concord Investments Limited including a share placement of 6,000,000 shares at a premium price of A$0.40 per share. Through the alliance, the Company has been introduced to some substantial mining opportunities inclduing a world-class potash asset. The funds that raised through the placement will contribute towards the exploration and development of the Company's current assets and to further acquisition and other investment opportunities out of China.
_
http://abnnewswire.net/press/en/651...gic_Hong_Kong_Investment_And_Partnership.html

Certainly some solid moves in the past 5 days, up almost 140% with a 44% rise on Feb 4 alone. Anyone else keeping an eye on this?


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## adobee (28 February 2011)

started having a look at Fortis FMJ .. looks like they have some big projects and potential on the cards but always skeptical buying into something that has run up so fast..  Sellers really dried up the last few days .. picked up a few this morning will keep my eye on the action over the next two weeks..


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## adobee (1 March 2011)

Fortis seems to be continuing its upwards run .. anticipation in regard to the size of the Kazakhstan potash project and some annoucements following due dilligence.. 

The mines sit in the western part of Kazakhstan, with one mine located eight miles from a national rail link with China.

Once they put out some expected production figures of tonnes and size of this mine this should really get cranking..  Always a bit hesitant about stocks that have already run up so fast so quick but potash is the flavour of the month and from what I hear this could be a cracker of an asset..


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## adobee (1 March 2011)

Not sure whats happening with this now but sellers disappearing fast.. buyers seem to be taking them at out market rather than getting in line..  Looking very interesting ..


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## adobee (1 March 2011)

Looks like traders just playing games with it .. take it up to $2.00 then dump it back to $1.80  ???


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## snowking (1 March 2011)

adobee said:


> started having a look at Fortis FMJ .. looks like they have some big projects and potential on the cards but always skeptical buying into something that has run up so fast..  Sellers really dried up the last few days .. picked up a few this morning will keep my eye on the action over the next two weeks..




i looked at this stock when it was trading in the mid 60s, next day IIRC it went to 80c and at the time i thought it had run up too fast. amazing what mr market says, oh well no point is ruing missed opportunities


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## Chorlton (1 March 2011)

snowking said:


> i looked at this stock when it was trading in the mid 60s, next day IIRC it went to 80c and at the time i thought it had run up too fast. amazing what mr market says, oh well no point is ruing missed opportunities




I've been in since the IPO....  Sold some at $2 today so as to de-risk and also because I felt we would see some stall / mini retracement, especially as we are hitting such a psychological level. 

However, if the volume is steady and we close of the highs then there's probably more to come first.

The steady upward moves (from 20c) have been quite remarkable IMO, and given how much it moves in a day, this is definately one worth trying to trade.

Good Luck All,

Chorlton


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## adobee (1 March 2011)

Chorlton said:


> I've been in since the IPO....  Sold some at $2 today so as to de-risk and also because I felt we would see some stall / mini retracement, especially as we are hitting such a psychological level.
> 
> However, if the volume is steady and we close of the highs then there's probably more to come first.
> 
> ...




hahah i think i bought your stock at $2 when I thought it was going to break out .. 
looking forward to some updates on the potash project and reserve estimates


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## Chorlton (1 March 2011)

adobee said:


> hahah i think i bought your stock at $2 when I thought it was going to break out ..
> looking forward to some updates on the potash project and reserve estimates




LOL.... You may have !!!

I agree that the future looks quite promising, so hence why I'm still invested to some degree. 

Good Luck.....


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## donteatme (2 March 2011)

Up to $2.50 today. WTF is this?


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## adobee (2 March 2011)

No idea whats going on .. maybe traders pumping it ???
I was expecting three to four weeks before news on the potash deal.. maybe when they said they fastracked it they mean they really fastracked it ..

Anyway all good for those holding I guess ???


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## Magic Man (2 March 2011)

Genius for jumping on Adobee


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## adobee (2 March 2011)

Just super super lucky at the moment ..


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## Magic Man (2 March 2011)

Where the hell is the speeding ticket?


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## adobee (2 March 2011)

just checked shares at the close ... all I can say is WTF is going on ?!?!?
Either traders are going to town on this or someone knows alot more than me .. which wouldnt be hard as I was expecting to get 10% in a couple of weeks..


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## BrightGreenGlow (2 March 2011)

Magic Man said:


> Where the hell is the speeding ticket?




My oath! What the go, does anyone know??


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## Magic Man (2 March 2011)

Yeah they are trying to get access to 2 world class Potash Fertilizer sites. South Boulder which has has an amazing run is involved in some other site i think..


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## adobee (3 March 2011)

WTF  !????????????!!??!?!?!!??

Speeding ticket set this on off !!!


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## Chorlton (3 March 2011)

adobee said:


> WTF  !????????????!!??!?!?!!??
> 
> Speeding ticket set this on off !!!




Agreed...............   This is truely one unique stock...... 

...  enjoying the ride thou...


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## benwex (3 March 2011)

Magic Man said:


> Yeah they are trying to get access to 2 world class Potash Fertilizer sites. South Boulder which has has an amazing run is involved in some other site i think..




She has popped now!!! Finally I can relax, I have been watching this from 55c and sat on my hands..

Potash packs a punch these days!!

benwex


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## skyQuake (3 March 2011)

Hope everyone has learnt a bit about volume and momentum today.

Great trading volatility!


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## sparkie (3 March 2011)

I learnt 3 things....

should have bought yesterday 
take your profits when you can
and 20 min delays don't make for good daytrades


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## suhm (3 March 2011)

wow is all i can say 10 bagger in one month on rumors of a potash deal, why spend time doing FA if you can make returns like that, but from the first post the IPO funds were for ?gold exploration. Whoever has been ramping this stock is welcome to come along and do the same for the stocks i hold, I've never had a 10 bagger.


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## adobee (3 March 2011)

managed to get out at 3.40 this moring very hard to get a sell through with comsec on this.. almost took 3.90 but got greedy and waited till it turned around.. will be looking at re entry tomorrow dependent on how its traded.. .. Potash is the product of the month thats for sure ..


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## adobee (4 March 2011)

decided to join the party again this afternoon around 2.20 ..
fingers crossed for another killer run up ..
Word is there is a broking institution selling to cool down the price.. not sure if its true.. but sounds good to me..


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## Magic Man (4 March 2011)

Good job. I think that speeding ticket took the fun out of it at $3.90, South Boulder was up again today after dropping back and im pretty sure it has something to do with potash also, so FMJ may run again next week... or drop further.. Itll be fun watching anyways lol


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## Chorlton (4 March 2011)

adobee said:


> decided to join the party again this afternoon around 2.20 ..
> fingers crossed for another killer run up ..
> Word is there is a broking institution selling to cool down the price.. not sure if its true.. but sounds good to me..




Hi Adobee,

If I may ask what made you re-enter at 2.20?  Was there any particular technical reasoning behind it?  I ask, as I personally feel that there is more downward movement to come in the short-term.

Also, out of interest where did you hear that this recent selling is simply to keep the SP down?

Just interested,

GLA,

Chorlton


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## Magic Man (5 March 2011)

Hey there. Been doing some research on some other Potash stocks that people may not be familiar with as much as Fortis or South Boulder some people may be interested in. RWD, ECM, GMM and RUM are all involved in Potash, mainly exploring it.

Do people think the Potash hype will continue or now that south Boulder and FMJ have come of a bit do they think its already run its dash in the short term. All of the stocks mentioned have run substantially the past few days.

Thoughts? DYOR.


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## Gringotts Bank (6 March 2011)

Tomorrow's candle should have a real body of: $1.86 to $2.04, with maybe a small wick either end.  

Very 'chartable' at the moment, like CDU.


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## adobee (7 March 2011)

Gringotts Bank said:


> Tomorrow's candle should have a real body of: $1.86 to $2.04, with maybe a small wick either end.
> 
> Very 'chartable' at the moment, like CDU.




maybe you were looking at it upside down ?


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## Gringotts Bank (7 March 2011)

I zigged when I should have zagged.  

At $2.43 it's sitting on the longer term trend line, log chart.


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## sammy84 (7 March 2011)

Gringotts Bank said:


> I zigged when I should have zagged.
> 
> At $2.43 it's sitting on the longer term trend line, log chart.




Don't worry, the occassional inability to zig and zag happens to the best of us.


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## adobee (9 March 2011)

dropped half this morning 2.69 moving across to SSC which is now down hopefully can get filled on this at 2.1c ..  

Cant wait to see some news flow on FMJ ... directors supposed to be fastracking the due dilligence .. they will have to release some details on the project soon they cant just leave it in limbo that they are looking at a potential 8,5bt potash mine somewhere in Kazakhstan ..


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## adobee (16 March 2011)

Debt facility $60m announced yesterday so sounds like the project is going ahead, from smh article directors are now back in Australia so I guess we will see an announcement or trading halt in the next couple of days.. Not sure how it will go down considering the current climate even if it is a huge resource..


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## Chorlton (16 March 2011)

After this morning's initial drop to around the 1.600 level, the chart is now looking bullish. I think we have seen the low for now, and hopefully will be heading north from here. 

During this early morning's drop I managed to increase my holding back to my original parcel size, which I will now hold for the medium term, as I believe there is a lot more to come which this company.

Good Luck All,

Chorlton


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## adobee (16 March 2011)

also picked up a few at 1.70- 1.80 
directors back in Sydney .. debt facility approved. .. 
project announcement will be on the way ..


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## adobee (17 March 2011)

Looking good today and at 8am I was expecting the end of the world so quite surprising ..   Fingers crossed can continue the up swing tomorrow..


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## adobee (18 March 2011)

FMJ is off an running again.. Buyers have finally outnumbered sellers again and are looking strong.. this stock has big swings and I am expecting to see a swing up to the previous high as the market is anticipating news on the potash project.. at this stage today, Monday, Tuesday.. From what I read in the paper the directors have flown back to Sydney from doing their due dilligence.. with this in mind asx cant let them continue trading without putting the news / announcement forward as to what project they are actually buying ...


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## mr. jeff (18 March 2011)

Adobee
What are your expectations on an announcement - all the speculation that has been happening on FMJ would suggest that there may be a rush up then a rush out the door.

Your thoughts on this ?


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## adobee (18 March 2011)

very hard to say ...  as you suggest the market at the moment is very much buy the rumour sell the fact ..   it will all dependent on the size of the resource and the the arrangement for the purchase .. If it is Satimola which is the biggest resource in the region 8.5BT resource then this is a few time bigger than STB .. If it is anything of similar size then the market should go bonkers..     but at the same time it could be already over hyped and not have much effect .. I obviously am factoring on a mega resource and the market going bonkers, and a tight registry, thus why I am throwing my money in it .. I would have much preferred to be doing this in a week without potential financial crisis..


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## adobee (21 March 2011)

TRADING HALT .. 

Pending announcement regarding acquisition of two potash mine asetts..

Now just waiting to see annoncement and market reaction..


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## adobee (23 March 2011)

Request for securities to be suspended from official quotation
Further to the Company’s request for a trading halt dated 21 March 2011, the Company has submitted to the ASX a proposed announcement which will release details to the market of the proposed acquisition of potash assets in West-Kazakhstan.
I note that you have advised that the ASX will not be in a position to consider and respond to the Company’s proposed announcement before the market re-opens at 10am on Wednesday 24 March 2011. As such, the Company will be unable to release the foreshadowed announcement until after the ASX has considered and responded.
In these circumstances we request that the Company’s securities be suspended from Official Quotation pending the finalisation of the ASX’s determination that the proposed
announcement meets the requirements of the ASX Listing Rules, including Chapter 5.
Any queries may be addressed to the writer.


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## Chorlton (23 March 2011)

adobee said:


> Request for securities to be suspended from official quotation
> Further to the Company’s request for a trading halt dated 21 March 2011, the Company has submitted to the ASX a proposed announcement which will release details to the market of the proposed acquisition of potash assets in West-Kazakhstan.
> I note that you have advised that the ASX will not be in a position to consider and respond to the Company’s proposed announcement before the market re-opens at 10am on Wednesday 24 March 2011. As such, the Company will be unable to release the foreshadowed announcement until after the ASX has considered and responded.
> In these circumstances we request that the Company’s securities be suspended from Official Quotation pending the finalisation of the ASX’s determination that the proposed
> ...




Hi Adobee,

Whats your view on where the SP could get to today assuming a positive announcement?


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## adobee (23 March 2011)

Ive got no idea ... Its pretty tightly held with little amount of shares on issue ... If news is good and it goes bonkers it could be $5 but at the same time it could open lower as everyone who held in advance tries to sell on the news ..


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## sparkie (23 March 2011)

total noob question.....but is there anyway to tell when it will reopen?

will it always be on the start of a trading day? or could it reopen in the afternoon etc ?


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## Chorlton (23 March 2011)

adobee said:


> Ive got no idea ... Its pretty tightly held with little amount of shares on issue ... If news is good and it goes bonkers it could be $5 but at the same time it could open lower as everyone who held in advance tries to sell on the news ..



Thanks for the reply. It seems we share the same view then!! I'm finding it difficult to call this one, hence the original question.

However, from what I've heard, this is definitely one stock to be invested in at the moment.

GLA,

Chorlton


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## skyQuake (23 March 2011)

My understanding of the equitiy facility is that it will issue shares at 15% disc to instos. Once those instos sell, if they sell at a loss (ie prices go down); More shares will be issued at 15% disc to the new price ad infitium

Its all sunshines and rainbows if the price doesnt go down but if it does? Feels like a vicious spiral to me.


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## adobee (23 March 2011)

skyQuake said:


> My understanding of the equitiy facility is that it will issue shares at 15% disc to instos. Once those instos sell, if they sell at a loss (ie prices go down); More shares will be issued at 15% disc to the new price ad infitium
> 
> Its all sunshines and rainbows if the price doesnt go down but if it does? Feels like a vicious spiral to me.




I understand (and could be wrong)
Shares are issued when the company draws down.. the insto doesnt have to immediately sell.. but often will.. this is a pretty common facility.. shares are pretty tight so if the company draws down when the shares are high this is pretty benneficial..


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## adobee (23 March 2011)

also doesnt stop the company from going to the shareholders for money if they prefer but gives them an option ..   looks like tomorrow will be the day at the stage ..


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## adobee (23 March 2011)

sparkie said:


> total noob question.....but is there anyway to tell when it will reopen?
> 
> will it always be on the start of a trading day? or could it reopen in the afternoon etc ?




Not sure.. I dont know enough either..
My understanding is that it would go into pre open when the announcement comes out.. thus there would be a bit of time between the announcement and the re-open.. 
but when you see the announcement it will either be very quickly after or advise in it re open on ... ..


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## pixel (23 March 2011)

A Trading Halt has a time limit of two working days. If the clarifying announcement cannot be released within that time, the company's shares (and options, if any) are automatically suspended. 
The difference between the two is only little more than semantics:


During a trading halt, any orders that were sitting on the board ("market depth screen") are frozen until ten minutes before the trading halt is lifted.
When a suspension takes effect, all bets are off; the slate is wiped clean and orders must be placed anew once the announcement has been released and the time for resumption of trading set.
In FMJ's case, I read between the lines that there appears to be a dispute between FMJ and the ASX whether the text of the announcement (which deals with the acquisition of a couple of mines in Kazakhstan) complies with applicable ASX rules or not. Sounds as if the ASX thinks some details are lacking that it considers necessary for investors to make a sufficiently "informed" decision.


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## adobee (24 March 2011)

would be nice if something happens soon.. markets pretty boring when your monies locked up and nothings happening ..


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## mr. jeff (24 March 2011)

adobee said:


> would be nice if something happens soon.. markets pretty boring when your monies locked up and nothings happening ..




either the money is gone completely or the ASX is trying to work out a way that this news is not going to melt the whole show down and prevent them selling out to singapore!

COME ON TELL US THE NEWS !


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## adobee (24 March 2011)

some news out ...

people expecting the market to be able to read this and buy there shares at a massive premium immediately..    will take some time..

Looks like 
Two mines
4.4bt at 8%
1.5bt 30%


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## sparkie (30 March 2011)

bit of a dive at the end of today....stop losses triggering at 1.90 perhaps?


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## adobee (31 March 2011)

dropped out at 2.60 then 2.30..
momentum isnt too good at the moment and people want more details..
will be keeping my eye on it though ..


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## sparkie (5 May 2011)

adobee said:


> dropped out at 2.60 then 2.30..
> momentum isnt too good at the moment and people want more details..
> will be keeping my eye on it though ..




do you still keep an eye on this one?

spiked up a bit today with no announcement, some pretty interesting chit chat on HC 
looks kinda messy!


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## Mrs P (7 June 2011)

sparkie said:


> do you still keep an eye on this one?
> 
> spiked up a bit today with no announcement, some pretty interesting chit chat on HC
> looks kinda messy!




If anyone out there has some divine insight as to why this stock has nosedived in the last 2 months it would be gratefully appreciated as i bought into this after looking though what i thought were decent fundamentals

im around 25% down since buying in and whilst tempted to put some more in at this point i can see they have been as low as $1.42 recently..

advice and benefit of your wisdom appreciated!


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## adobee (7 June 2011)

I think you need to look at the six months chart rather than the last two months.. this stock has run from 20c..  at the moment it is very difficult for a valuation to be put on the project.. they have secure some pretty major finance though.. Directors of this FMJ have just taken over GTE looks to be a similar story..


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## Chorlton (20 June 2011)

Anyone got any ideas as to why there is such a fall occuring over the last few days?  Volume being traded doesn't seem to reflect the large drop we are seeing which is a little strange IMO.

Although the last RNS didn't offer anything exciting, was the Mrkt expecting something more positive???  

All comments welcome....


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## adobee (20 June 2011)

I have no idea.. but then again my whole portfolio is suffering similar losses across the market .. I think there are alot of people loosing confidence and pulling out (not with fmj but the market in general)..   GTE is the same down to about 37c from 56c ...


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## Chorlton (20 June 2011)

adobee said:


> I have no idea.. but then again my whole portfolio is suffering similar losses across the market .. I think there are alot of people loosing confidence and pulling out (not with fmj but the market in general)..   GTE is the same down to about 37c from 56c ...




Hi Adobee,

Can you offer any insight here....

In one of FMJ's recent announcements they wanted to raise $16million by issueing 10 million shares at a price of 1.60. With this in mind, I assumed that 1.60 would then become a new support level. 

Given that we are currently trading at around 1.00, how does this effect this new issue of 10million shares? Why would anyone want to take them when they can theoretically buy them at market for around 40% less?  I know an order of 10million would be difficult to fill at that price but you know what I mean.


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## Country Lad (20 June 2011)

Chorlton said:


> Anyone got any ideas as to why there is such a fall occuring over the last few days?  Volume being traded doesn't seem to reflect the large drop we are seeing which is a little strange IMO.




It is worthwhile to keep up to date with all the news about all shares you may hold to get a feel of why the market sentiment may change or is changing so you are at the head of the pack not following.

The announcement of 19 May was a bit over the top and the share price fell off after the initial reaction. In this market the announcement on 10 June indicating about 16% of their shares come out of escrow could be a negative.  Then there was quite a bit of rumour around about Kazakhstan which no doubt would cause more people to take the opportunity to sell because all does not appear to be rosy.  The Kazakhstan issue was confirmed friday, (more selling), absorbed over the weekend, with the subsequent 25% drop today.

There is a lesson here. Companies with a small number of shares on issue like FMJ are good when the news is positive but shareholders need to be diligent because any bad news can cause selling into a shallow market with the resultant over reaction and "sell at all costs" like we have today with the further 25% fall in share price.

Cheers
Country Lad


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## alexc2005 (22 June 2011)

Wowwwwwwwww

50% in 2 days- impressive stuff.


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## derty (24 June 2011)

Chorlton said:


> Anyone got any ideas as to why there is such a fall occuring over the last few days?  Volume being traded doesn't seem to reflect the large drop we are seeing which is a little strange IMO.
> 
> Although the last RNS didn't offer anything exciting, was the Mrkt expecting something more positive???
> 
> All comments welcome....



The main drop down to $1.00 on June 20 was due to someone dumping their shares on market due to a margin call.


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## Chorlton (24 June 2011)

derty said:


> The main drop down to $1.00 on June 20 was due to someone dumping their shares on market due to a margin call.




Out of interest, how do you know that?


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## derty (24 June 2011)

I was in West Perth earlier in the week, you see a lot of people on the street at lunchtime. I ran into someone who had been speaking to someone from Fortis.


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## adobee (24 June 2011)

I cant get a margin on FMJ ...

price rebounded.. I am not sure what the storey is at this point ..
I am seeing big swings in alot of shares due to market sentiment and people wanting out at any price ..


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## derty (24 June 2011)

There is no reason for Mr Guy from Fortis or my friend to be telling porkies. The seller had a margin call, he doesn't have to have FMJ on margin to be selling them to meet a margin call.


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## alexc2005 (24 June 2011)

So- Good buying then ?


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## Country Lad (24 June 2011)

There may have been a margin call on that day but I doubt that it alone was the cause of the fall.  It was most likely the UBS action.

Of the 481 total trades that day, UBS were on the sell side for 267 (55% of the day's trades).

Looking at the UBS 267 sell trades:-

257 were for less than 1,000 shares;
39 were for 51 to 100 shares;
55 were for  50 or less shares.

Except for cross trades for the small amounts, they were on the buy side twice only, one parcel of 15,000 and the second 3,978 about 2 hours apart.

Cheers
Country Lad


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## adobee (27 June 2011)

I havent looked at the last 30days trading on it but
maybe UBS is his broker .. 

Anyway..  article today .. FMJ & GTE in SMH

http://www.smh.com.au/business/fortis-pair-explore-western-possibilities-20110626-1glo5.html


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## breaker (4 May 2012)

FMJ seems to have stopped trading how can I get my money back

Thanks


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## skc (4 May 2012)

breaker said:


> FMJ seems to have stopped trading how can I get my money back
> 
> Thanks




You can wait, you can sell it off-market if you can find a buyer, or you can write it off eventually.

It's only been ~6 months of suspension and it may trade again one day. The record on the ASX is 9 years+.


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## breaker (4 May 2012)

Thanks for that

9 years LOL


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