FML - Focus Minerals

[2BAD4U]

Well I just got in at 8.2. Stopped looking at the chart fomation (as posted above it had run it's course) and have now just gone in on the fundamentals.

 

[hangseng]

BSF for Perseverance lode is out. It's a go. Resource upgrade for Perseverance should be in Q1-08. This will give them cashflow and then we should expect to see further studies for the other lodes and hopefully ramp-up over time to their targeted 100,000ozpa. Long way to go but it's a start.

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=FML

Yes and I also particularly liked the low capex for the return. Entry for me today, excellent risk/reward potential at these levels for mine. I see the potential for FML to rise to over 10c very easily short term now.

 

[Quasar217]

Run up on low volume today. Up 12% to lunchtime with no news. Does someone know something I don't? It didn't run like this when we HAD good news!

 

[jackson8]

a lot of speccy stock up today fdl mky and a number of others . maybe indication of a good start to the new year . also gold getting near new highs could be heading north so this will affect some of these near term producers maybe..... its all speculation

 

[powerkoala]

up 3 days in the row.
now in 10c barrier.
chart looks really encouraging.
resistance at 10.5c and 11.5c.
with gold price at record high, this will make an interesting movement.
good luck all holders.

 

[MS+Tradesim]

I'm sure there'll be traders doing well out of this little run. For myself, looking towards production from Perseverance, hopefully by April.

 

[camaybay]

I'm sure there'll be traders doing well out of this little run. For myself, looking towards production from Perseverance, hopefully by April.

I thought this chart would help, also posted in potential b/o,yes I agree its about to happen and the sub 0.10 share price should not prevail. (there now dear, is this up to 100)

Cheers
DYOR

 

[2BAD4U]

I would like to see a gap up or a long day through the 11c mark before I would consider it a break out. But I'm a happy camper at the moment, up 20%

 

[camaybay]

Yes I agree, just alerting to maybe a P/BO. 3 times the amt of gold as the other guys are hopeing for. read the PB in General Chat


Cheers


DYOR

 

[2BAD4U]

FML in a trading halt. They were due to announce the letting of the mining contracts about now. Hopefully this will give us a time frame on when things should start gearing up.

 

[MS+Tradesim]

Yeh, I've been patiently waiting for the same thing. Mining approvals and contracts for the work are due by now. I'm hoping they're not going to do a placement but even if they do I won't care as long as it's good progress. If bad news, I might bail and load up more VRE.

 

[MS+Tradesim]

Excellent news! FML brought out ann. after market. They are looking to acquire 100% of the Coolgardie gold project and buy out the JV partner with cash and equity. Terms of sale to be announced down the track. That gives them a current JORC resource of over 1.6m ozs and lots of tenements to explore.

 

[2BAD4U]

Been quite at FML for a little while, but an announcement today re the Coolgardie project. All good news IMO. Be interesting to see the terms (price) of the share purchase plan.

 

[camaybay]

This sounds like our offer:-

• the appointment of Perth-based investment bank, Azure Capital - to manage a A$14 million share placement at 5.5 cents per share, together with a Share Purchase Plan to raise a minimum of A$4.0M to underpin the acquisition and fast-track the Coolgardie development program

It does say minimum of $4m, I wonder what the limits are to share holders?

Cheers

 

[camaybay]

Should every thing happen then, an additional 210m shares at current price 7.2 c would produce a dilution to 5.7 c. Have not counted options & incentives etc.

The gain is ownership of the production 100000 ozs by 2011 at $360/oz
$36m nett pa 2011
(as they say on the invoice E&OE)


DYOR

 

[sting]

FIRST GOLD POUR FROM PERSERVERANCE

Now that I have your attention Ann just released included a tag on the bottom stating that the first gold pour will be on the 29th at the Greenfields Mill


SEMPER UBI SUB UBI

 

[MS+Tradesim]

ASX / MEDIA RELEASE 29 April 2008
FOCUS DELIVERS MAIDEN GOLD PRODUCTION AT
COOLGARDIE PROJECT, WESTERN AUSTRALIA
FIRST 6,000t OF ORE PRODUCES APPROXIMATELY 2,000 OUNCES
KEY POINTS
• Focus produces approximately 2,000 oz of gold from 6,000t at grades in excess of 10g/t Au in
first official gold pour in Coolgardie today
• Earlier pours this month have produced a further 1,000 ounces from previously stockpiled
ore, making a total of approximately 3,000 ounces produced to date
• Higher than expected grades auger well for future development of the Perseverance ore
body and surrounding areas
Australian-based gold and nickel company Focus Minerals Ltd (ASX: FML) is pleased to announce that it
has completed its first official gold pour, comprising approximately 2,000 ounces, from the
Perseverance Gold Deposit, part of its 100%-owned Coolgardie Gold Project in Western Australia.
The gold pour marks a significant achievement for Focus as it becomes Australia’s newest gold producer,
and also heralds the revival of the historic Coolgardie Gold Field which has produced over 2.6 million
ounces since 1892.
The official gold pour was attended in Coolgardie today by dignitaries including the Federal Member for
Kalgoorlie, Mr Barry Haase MP, the Member for Murchison-Eyre, Mr John Bowler MLA, community
leaders and members of the local and national media.
The gold produced was achieved from processing 6,000 tonnes of Perseverance ore at a grade in excess
of 10 g/t Au which compares favourably with the reserve grade for the deposit of 8.3g/t Au. It comes after
development of the Perseverance deposit commenced last month following a positive Bankable Feasibility
Study (BFS) completed last year.
The combination of today’s official gold pour in addition to previous pours totalling approximately 1,000
ounces - sourced from previously stockpiled ore - will make up the Company’s first gold shipment of
approximately 3,000 ounces. This effectively represents the Company’s first cashflow.
Commenting on the significant milestone, Focus Minerals’ Managing Director, Mr Peter Williams said:
“Today’s gold pour is a defining moment for Focus and I’d like to thank our valued shareholders, the local
Coolgardie and Kalgoorlie communities, our staff and contractors and everyone else who has supported us
along the way.”
Focus recently upgraded the Probable gold reserve at Perseverance to an estimated 287,000t @ 8.3 g/t/Au
Perth Office – Level 3, 105 St Georges Terrace, Perth, Western Australia 6000
P: 61 8 9215 7888 F: 61 8 9215 7889
W: www.focusminerals.com.au E: pwilliams@focusminerals.com.au
ACN 005 470 799
for a total of 76,000 ounces and early indications are that this figure will be improved upon based on the
grades already being produced, which are higher than initial estimations.
“The ore grades we’ve been receiving have been excellent but not entirely unexpected given the
conservative nature of our estimations,” said Mr Williams.
Mr Williams also said that while production was now Focus’ priority list, it was the delineation of
additional ore reserved that will ensure the long-term prosperity of Focus
“We are still very confident that there are significant high-grade deposits yet to be discovered on our
Coolgardie landholdings and that these deposits – along with our exciting nickel assets - will ensure th
long term prosperity of Focus,” he said.
ENDS

 

[rob]

Would like to wish all a happy new year and good luck to all holders thought there would be someone on here today considering the the jump of 36% today now up to 0.030c, would like to know why surely not the gold price maybe a leak. whatever it is i am happy and continue to hold good luck to all

 

[travwj]

I was put onto this by a friend, and was just starting to look into this company. At the close of trading today up 0.008 cents or 30 something percent. Woud love to know why it has jumped so much in one day. Are they expected to release any news soon? Anyway will keep watching

Trav

 

[poortrader]

anyone know whats going on with FML

its been creeping up slowly the last 2 days

almost back to where i originally bought it at