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Re: FWL - Ferrowest Limited

I still have some FWL in the bottom drawer.

And looks like there is some news coming, hope it's good! :)

The company have been steadily moving along with the project, and have been pretty good and making timely announcements and keeping to the schedule they proposed.

Given how far into the project they are, and how tightly it's held (top 20 still hold 63%), you'd think good news could re-ignite interest in this one.

Anyone else still with an interest in this?
 
Re: FWL - Ferrowest Limited

Ive got a small a which ive held for a while. Im interested to see what the drilling results are as I dont think the market has given too much value to the Western Hematite Project so far. Im wondering if they are also going to announce a JV to provide funding for further exploration now that results have come back. They have done well to survive the past 12 months with limited dilution.
 
Re: FWL - Ferrowest Limited

fwl has been posturing for sometime about aJV or capital from an asian source to develop thisw building resource.

the announcement says this will be in relationship to resource exploration.
Given the time extension asked to put this to the market and the $$ they have in kitty i'm anticipating a substantial find closely followed by a capital raising

I know this is not a rocket science conclusion to draw but they are starting to move to that stage

or the photocopier broke down and they needed more time!
 
Re: FWL - Ferrowest Limited

well i might just keep my conclusions to myself.

the quality of ore was well not that flash
The JV was a surprise

I think FWL has plenty of pig iron feed to get on with the mine development rather than chase new ore
 
Re: FWL - Ferrowest Limited

Just reading the latest announcement concerning the project update and i noticed 2 things that interested me.

1) 5million shares at 20cents which at the time of the announcement was a 38% premium to there price now still 17.6%

2) $14million in exploration and development funding for 50% interest

With the current market cap of 13mil possibility of a $15mil boost in cash in near term, the 1.5mtpa pig iron project is looking more possible.
 
Re: FWL - Ferrowest Limited

Another tick in the box on the long road towards getting their project off the ground.

There are a few things to look forward to in the near future:

- Further exploration drilling on the Western Haemetite project
- Approval from the FIRB regarding the funding from Global Minmetal Corp
- Resource increase of the Yalgoo Iron resource
- Further discussions on JV partners for the Yalgoo Iron Project.
 
Re: FWL - Ferrowest Limited

I notice this stock is an old favourite of the forum but has only had very little coverage lately. I though the 390% resource upgrade yesterday to half a billion tonnes in JORC inferred resource at Yogi might get a few chins wagging. The proposed production is only 1000000 tonnes a year - so they have enough to go for about 500 years. All this with a market cap of roughly $11M at yesterday's close. Nice.
 
Re: FWL - Ferrowest Limited

Hey Apples, yeah been following this one for a while thought to myself i wouldn't mention the announcement as most of my comments on a few specy iron ore have been ignored :p although all have gone up well..

concerning the 500years..
i suggest you look a little further in detail. there resource may be 552M tonnes however that is at a grade of 27.2%

And they are looking at selling pig iron which is 96% Fe
obviously they should be able to get a max of 156M tonnes at that grade this is also unlikely. Something to note though is they mention having the ability to ramp to 2mtpa with the resource upgrade.

current price of US$480/t that is a revenue of at least US$960mil and seeing how iron ore contract prices just doubled the skies the limit for this little specy

Only problem :p Getting it off the ground.
 
Re: FWL - Ferrowest Limited

and getting it off the ground will be the problem given current market tightness with capital. lot of talk re being in discussions etc
this last announcement may be enough to flush out some much needed capital to progress this project.

i missed the SP surge from 10 to 22 c but was only a handful of punters. only $200,00 grand plus in total traded

:D
 
Re: FWL - Ferrowest Limited

I hold the options FWLO acquired in 2007 at an average price if 42c. These expire on 01/06/2010 and the exercise price is 25c.

The last price of FWL was 14.5c.

Looks like I'm due to take a hit on these and let them expire, unless FWL does something dramatic in the next month and a half.

There are 27 million of these options which if all option holders think like me means they will miss out on about $6.75 million.

Any advice from any followers of FWL?
 
Re: FWL - Ferrowest Limited

Hi all

Like many of these stocks that had stellar movers are around these levels and lower eg cul to name one.

Given this was a good buy at 20c must be a very good buy at 14.5c. Has much changed since the analysis of YT.

YT you still got these in your bottom draw or did you get out when the GFC unfolded. Whats yout take on this and others like Cul do you think much has changed in terms of their progress. Cul is around 4.5c

Cheers
SG
 
Re: FWL - Ferrowest Limited

Like a lot of mining companies, FWL has the resource but no funds to advance their project. Getting this off the ground is totally dependent on outside finance. The latest quarterly says discussions with several parties are at an advanced stage which will provide funding for the project. The only hope for option holders is a JV being finalised before the expire date. That is about the only thing that will give the share price a boost at the moment IMO.
 
Re: FWL - Ferrowest Limited

there are a heap of companies in this predicament. .. not just mining companies but property trusts oil explores etc waiting for capital to free up so they can advance their projects. One thing in favour of miners v oilers etc is the jorc code places a level of confidence under investors because you know they have a standard to achieve.

it is getting tight for FWL. Recent days have seen a small rise in volume and price. maybe something is about to happen
 
Re: FWL - Ferrowest Limited

YELNATS said:
I hold the options FWLO acquired in 2007 at an average price if 42c. These expire on 01/06/2010 and the exercise price is 25c.

The last price of FWL was 14.5c.

Looks like I'm due to take a hit on these and let them expire, unless FWL does something dramatic in the next month and a half.

There are 27 million of these options which if all option holders think like me means they will miss out on about $6.75 million.

Any advice from any followers of FWL?
Click to expand...

Announcement out today regarding the AGM. They are planning to issue new options to existing options holders on a one for one basis at a price of 0.5c each. New expiry date is 28 June 2012. At least its not a total write off for option holders, i take this as saying that no news is expected before the June 1 expiry date.
 
Re: FWL - Ferrowest Limited

FWL in trading halt.....looks like a funding deal has been struck. Hope its a beauty :)

29/6/2007
FIRST RESOURCE ESTIMATE ? YALGOO IRON PROJECT
- 112.5 million tonnes at 25.3% total Fe estimated mineral resource
- Resource underpins iron requirements for 20+ project life
- Resource estimate completed for 10km of 27km strike at Yogi deposit

http://www.ferrowest.com.au/Announcements/2007/ASX Announcement - Resource Estimate 29Jun07.pdf

The SP spiked to 93.5c in June 2007 following just the first Resource estimate 112.5mt, shares on offer at the time 54mil. The JORC is now 572mt (target between 800-1200mt) , while shares & options are approx 125mil.
Since the spike in 2007 the share price suffered due to both uncertainty of project funding & the GFC. Hopefully the announement will remove the uncertainty around funding & given the spike in 2007, the JORC increasy by 4.5 times and still only 125mil shares on issue (that is including options) we should see >$1 sp IMO
 
On December 16th, 2015, Ferrowest Limited (FWL) changed its name and ASX code to Living Cities Development Group Limited (LCG).
 
On August 7th, 2017, Living Cities Development Group Limited (LCG) changed its name and ASX code to Birrabong Corporation Limited (BIR).
 
On June 20th, 2018, Birrabong Corporation Limited changed its name to BIR Financial Limited.
 
What's going on with BIR?

big.chart-BIR.gif


BIR_Price_Query.png


500% share price gain since last Tuesday and still no news. Hmmmm....
 
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