FSE - Firestone Energy

[Bomber27]

Does anyone hold shares with this company? Would mind finding out some more info on them. The share price has been lifting slowly and they are generating huge volumes.

 

[mick2006]

Looks like another spec coal play is having a good day today after they announced a director has been buying on market and also an update on their recent coal acquisition.

 

[mick2006]

Hi michael, having been in the market for a while now and built up a very substantial portfolio I don't mind looking in the spec sector for a few up and comers.

The important thing is to pick up the trends early and look for companies that will benefit from them, and there is no doubt coal is hot at the moment.

I don't own any FSE, as I much prefer CDS long term and CAG short term.

 

[dascore]

A Dewey Cycle forecast indicates we are bottoming in price, with four cycles all forming a nest of lows around this time together in synchronity. So there's reason to expect improvement in prices soon...very soon! Cheers.

 

[JackC]

Nice announcement out this morning. It's been a long time coming in my opinion as I have been watching this mob for months.

JORC Compliant Resource Statement
Drilling Commences at Vetleegte Property
Firestone Energy Limited (“Firestone or the Company”) has received from Venmyn Rand
(Pty) Ltd (“Venmyn”) a technical statement for its Vetleegte and Olieboomsfontein properties
in the Waterberg Coalfield of South Africa (refer attached).
Venmyn reports a JORC compliant coal resource estimate for the Vetleegte property of:
• Coal Resource Estimate (Inferred) Vetleegte Property 508 million tonnes
Firestone has been informed by its joint venture partner, Sekoko Resources (Pty) Limited
(“Sekoko”) that drilling of a 14 diamond drill hole programme has commenced at the
Vetleegte coal property. This is the first of several drilling programmes, which will utilise both
diamond and reverse circulation drilling methods, that have been designed to provide a drill
coverage over the property on a better than 500m grid spacing.
It is anticipated that drilling will commence at Olieboomsfontein immediately thereafter, in the
area surrounding an historic borehole where multiple coal seams were logged from 23m
beneath ground surface to 142m depth, including intervals of 55m of coal zones 6-11
(including parting waste), 5m of zone 5, 8m of zone 4, 5m of zone 3 and 2m of zone 2.
As announced to the market on 18 June 2008, the Company has the right to earn a 55%
participation interest in two coal projects, Vetleegte and Olieboomsfontein in the Waterberg
region of South Africa, under a recently signed joint venture agreement with Sekoko.

 

[kempy68]

I hold 4,400,000 shares at 4.0c. This will be a very good coy in the near future. They are currently drilling 14 holes 10 completed results in 2 to 3 months.

 

[albertv]

Any thoughts on the latest developments with the appointment of the CEO and allocation of options? Any idea why the SP took such a hit on Friday?

 

[albertv]

Gee, this thread is really alive. Come on guys, surely I'm not the only one left with the FSE shares (although going on today's trading, I'm starting to wonder). Please share your thoughts - where do you think this stock is going, any gossip?

 

[prawn_86]

Well i dont and never have owned. But its gone from a yr high of 6c down to 1c and is now back at 1.9c.

Also, no price sensitive announcements in the last 3 months. So whats there to talk about?

 

[tarlox]

Maybe something to talk about soon????

Trading Halt and big jump in SP. Keep an eye on this one.

 

[samt75]

FSE have gone for a big run today, trading volumes are pretty high as well.anyone got any new information on this stock?

anyone got any new information on this stock?

 

[tarlox]

30% rise and now a trading halt. Hopefully there is some decent news re south africa on the way. I have been holding these for a while... waiting.... waiting...

 

[happytown]

trading halt is due to the pending release of an announcement regarding a resource upgrade and proposed capital raising

cheers

 

[samt75]

FSE annoucement has come out and the stock has gone for a big hike finishing at 0.041 + 0.007.
Can someone explain the annoucement a bit more and if it's a good one as well for long term hold of this stock?

 

[YOUNG_TRADER]

FSE annoucement has come out and the stock has gone for a big hike finishing at 0.041 + 0.007.
Can someone explain the annoucement a bit more and if it's a good one as well for long term hold of this stock?

Placement done at a premium to the share price, I think the company ann says it all

“The capital raising at an attractive premium to the recent trading price for FSE shares is a vote of
confidence in the direction and growth prospects of the Company as well as providing some additional
balance sheet comfort and operational flexibility over the short-medium term. The Company is in the
process of exploring longer term funding options, including for the Bankable Feasibility Study, and will
advise these upon finalisation”.


and we can expect a further ann soon

"The Board is pleased to announce that a highly experienced and widely respected mining engineer
with extensive board experience and practical mining experience in open pit and underground mining
has consented to join the Board of Firestone. Further details will be announced as soon as possible"

 

[Ghetto23]

I am a fan of this stock at the moment.

The presentation they released the other day looks good in that it seems they have formulated a solid plan. The chart looks healthy as well - above resistance with volume.

 

[samt75]

This stock has been climbing slowly over the past week.
Anyone have anymore news about this stock?

 

[Ghetto23]

This stock has been climbing slowly over the past week.
Anyone have anymore news about this stock?

What kind of news are you after, Sam? Plenty here:
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=FSE

 

[samt75]

The company has asked for a Voluntary trading Suspension request,
Does anyone know why this has been done and what it means?

 

[AussieBoy]

Wow, nearly 3 yrs since there was last a post in this thread.

Anyways, I noticed today there was a spike in the price of the stock (which has remained relatively stagnant in recent times) and substantially large volume, which precipitated a trading halt. Anyone know what's going on here (anyone know much about this company)?