FME - Future Metals

[kenny]

Nothing on KB except a browse online shows he likes to dabble in big positions in otherwise sleepy listed co's (eg DXN, ID8, MTH)

 

[kenny]

FYI @barney KB on the move;


9 December 2020

Red Emperor Resources NL

("Red Emperor" or the "Company")

Holding in Company

Red Emperor (ASX/AIM: RMP) was notified on 9 December 2020 that Kenneth Baker acquired 4,105,917 ordinary shares in the capital of the Company ("Ordinary Shares") on 30 November 2020 for A$63,106.88 and a further 1,565,000 Ordinary Shares on 8 December 2020 for A$33,520.33. Kenneth Baker is now interested in, in aggregate, 38,130,917 Ordinary Shares, representing approximately 7.26 per cent. of the Company's issued share capital.

 

[barney]

FYI @barney KB on the move; Kenneth Baker acquired 4,105,917 ordinary shares in the capital of the Company ("Ordinary Shares") on 30 November 2020 for A$63,106.88 and a further 1,565,000 Ordinary Shares on 8 December 2020 for A$33,520.33.

Yeah thanks @kenny It hadn't twigged till your last post, but I own ID8, so I'm interested in KB's positions there as well. He certainly has plenty of petty cash lying around to invest!

 

[System]

On June 16th, 2021, Red Emperor Resources NL (RMP) changed its name and ASX code to Future Metals NL (FME).

 

[Dona Ferentes]

Future Metals NL (formerly named Red Emperor Resources NL) (ASX: FME) confirms the consolidation of its capital on the basis of every 100 fully paid ordinary shares being consolidated into 14 Shares became effective on 4 June 2021. The Company completed the consolidation of capital on 11 June 2021.

 

[greggles]

Re-instated to official quotation today. They have raised $10,000,000 via the issue of 100,000,000 FPO shares at 10c a share. After the 14:1 consolidation FME now has 348,541,184 shares on issue.

FME has agreed to acquire Great Northern Palladium Pty Ltd, a company with $84,000,000 in accumulated tax losses and which owns 80% of the issued share capital of Panton Sill Pty Ltd; a company which holds the granted mining leases that cover the Panton PGM Project located approximately 60 kilometres north of Halls Creek in the East Kimberley region of Western Australia.

Surprisingly FME is trading at 21c today, more than double what it raised capital at to re-list. So it appears to be off to a decent start, at least as far as those who got in at 10c are concerned.

 

[Sean K]

Been following this because of PGM in the mix. Good grades but low tonnage so far. Just not sure if it can expand into a significant enough resource. Looks like it's broken the sideways/downwards bias based on...nothing...

 

[Dona Ferentes]

raising a few more dollars at 12.5c in a placement and SPP. There are some oppies attached. Early days.

Mr Jardee Kininmonth, Managing Director of Future Metals, commented:

“ This fundraising enables the Company to engage in a targeted exploration program me to test Panton for significant Ni - Cu PGE discoveries sitting outside of the current resource area while also ensuring that the Company is fully funded to progress the scoping study on its large existing PGM - Ni resource. We appreciate the continued support from existing sophisticated and institutional investors and welcome several new investors to the register. We are pleased to announce a share purchase plan which will enable our valued retail shareholder base the opportunity to participat e in the fundraising on the same price and terms as the Placement.’

 

[Dona Ferentes]

raising a few more dollars at 12.5c in a placement and SPP. There are some oppies attached. Early days....

FME advises that the Share Purchase Plan announced on 17 August 2022 to raise $500,000 from existing shareholders closed on Friday 9 September 2022.

The Company is pleased to advise that the SPP was heavily oversubscribed. In order to reduce the level of scale back, the Board has used its discretion under the Prospectus (dated 22 August 2022) to increase the SPP to raise up to $1,000,000. Notwithstanding the increase, applications will still be scaled on a pro-rata basis to $1,000,000, with the balance of funds returned to applicants as soon as possible

..... it would only take 17 shareholders putting in the max, to get to the early target. Now it's up to 34 .... or, in all likelihood, any scaleback will be significant.
At least it is in the money, with a jump to 13.5c