Oiltap100
10 Mar 2018
Realistically? The Toral asset has been around for a long time, and changed hands many times. That's not uncommon in the mining industry, in fact from what I can see it tends to be the norm. Assets change hands for all sorts of reasons. The disadvantage is that naysayers will say, often repeatedly, that it's proof that "no one wants the asset". To that I would say most mines have had several previous owners - go figure. However, previous ownership also comes with an advantage - the last company taking on the asset usually has sight of the work done and recorded to date. FCR are in the position of owning an asset which has had much previous work done on it. There is a large database that can be interpreted and reinterpreted in old and new ways. We have already seen the raw tonnage move from 8m tonnes to 16m tonnes with higher potential metal in the ground. However this is on the basis of inferred resources.There is a difference between reserves and resources. Roughly 
roven (measured) - via closely spaced samplingProbable (indicated) - via less closely spaced sampling, and based on projectionsPossible (inferred) - via much fewer samples - surprising given previous data The above is how I see it. You might see it differently. However it does mean to go from inferred to indicated and measured requires much more sampling - more work - drilling - more money - which is the norm. If you are surprised by a Junior mining company requiring more money as It progresses the phases then maybe it's a wake up call. Although the Toral Canadian NI 43-101 assessment had about 50:50 indicated and inferred, our new Australian Maiden JORC 2012 has 100% inferred. The market does not care much for inferred as can be seen today. Some like me with a higher risk appetite will be interested purely for this reason. Compare this to Alta Zinc which the FCR BOD showed on a presentation with Andrew Scott. They have a JORC from May 2017 which shows total tonnage of 3.3mt with 2.1mt indicated resource, 1.2m tonnes inferred resource. At first glance we can compare 3.3 to 16m tonnes in Toral. But Alta Zinc have 'some' indicated resources. In addition at the time the comparison was about £6-7m market cap for Alta Zinc compared to FCR's £2.5m. Alta Zinc is now at about £4.3. It's still significantly above FCR's Market Cap but also significantly below what it was. One speculation point is therefore how much of our 16.1mt inferred resources can we get into the indicated category (note we had roughly 4m tonnes under the NI 43-101 based on 8.1m tonnes total), and how quickly can we do it?Another speculation point is how much more resource is there at Toral given we have data on part of the asset only - there is more to investigate along strike, down dip, and infill. My guess based on strike length remaining, and the fact that Toral is in a former mining area - 'close ology' etc. is we might be looking at 25m+ tonnes with more metal in the ground - which the market will value at peanuts until we do the further studies which will be required to convince the market. My preference would be to park further study (requiring money) of the asset along strike etc. - as more tonnage will not convince the market unless it's in the right category. If our indicated resources is higher than Alta Zinc's Jorc 2012 indicated resources will the market respond? On the balance of probabilities you would think so.Note - under JORC 2012 - the chance of becoming an economic mine is - from memory Inferred - 10%Indicated - 50%Measured 90%Best you check those last stats. In addition the chance of anything becoming a mine is very low. I have seen stats ranging from 1 in a 1000, to 1 in a 100. Massive difference between those two figures. And then there is the question of what will the commodity price for Zinc, Lead and Silver be in the future. IMO FCR has no option but to progress through the stages to convince the market, but much m
Oiltap100
08 Mar 2018
So what's next? It's clear that FCR needs cash. Even my dog knows it!When the cash is raised I would prefer it to be aligned to a share consolidation. I know some of you will hate that - but I would prefer a clean sweep right now - once and for all - through the company, and sorting out all the crud - 3bn shares and rising is unsustainable IMO. JSE listing is not worth the money. However, shareholders in Aus outnumber shareholders in UK, so you would need to bare in mind what that means.Clean slate and all that. Sometimes pruning the tree right back is best for the long term.I would also like to see directors partaking in any cash raise. Sure they can get some share options in the future to get this company to where it belongs market cap wise - but if this really is a potential world class asset (I firmly believe it is - so far so good), then it's difficult to believe,for some shareholders, if the directors are not putting their money into this venture (and adventure) the same as the rest of us shareholders. I think it's fair to say to the bod 'Do what us shareholders are doing - I.E investing in FCR' and we might just believe you when you tell us it's undervalued and world class. Show us some additional skin in the game so we believe you are different to all the previous BOD's on FCR.Another option is to merge FCR with another company. Swap the potential value of the undervalued asset which is already a multiple of where it is today apparently (according to the BOD), for shares in a.n.other company which has the resources to progress the asset through the various studies. It is likely to be a CB company at a guess - so take your pick. Note the boards of some CB companies and FCR are almost identical. Some lateral thinking on this could get our Spanish assets moving along quite quickly. It would be interesting to see if it gets valued at what the current BOD projection is if this were to happen. The merged companies should have plenty of synergies that outweigh the current situation for some candidate companies I have been looking at. Of course they could even raise some cash and merge. There are plenty of options.
Oiltap100
06 Mar 2018
A good day - hurrah! Hopefully this was just a market back test....
Oiltap100
06 Mar 2018
Re: Volume picking up on L2 Bid and offer moved up which shows you what really happened just there !
Oiltap100
06 Mar 2018
Re: Volume picking up on L2 Odd that on iii and LSE it does now yet show. 11:42
9 0.08 GBX 27,500,000 21,175.00 Off-book AIMX LRGS
Oiltap100
06 Mar 2018
Volume picking up on L2 with some nice big trades. Calm down calm down ... 
Oiltap100
05 Mar 2018
Scores on the Beauford Doors Just looked at the AIM companies that BS were broker to. Snapshot - 20 are down on the day. 14 are up, the rest are no movement.
Oiltap100
05 Mar 2018
Re: Is this a In October 2017: [link] - so BS has a lot of coverage.Lesson learned - good news travels fast on AIM - the BOD cannot wait to give you the good news, and bad news has a habit of waiting around for far too long which can give you time to adjust. Wake up and smell the coffee so to speak.These days, any predicted news more than +3 months over the due date then I am 'usually' inclined to think it's gone to rat***t. And more recently - [link] - even more Beaufort clients on AIMThe elephant in the room questions for me are:1. How will FCR and others in its stable of companies raise money going forward? FCR does now have a single broker instead of two. I suspect it will need to try much harder to raise money - which is not a bad thing IMO. The BOD need to speak to shareholders soon. 2. Did any of those 65 Beaufort client companies receive money in placings that was questionable?3. Did PI's get diluted more than 'normal'? I have already been diluted once since I bought in here - and others have been diluted several times. 4. Are any of the other brokers doing similar? I expect we will be diluted several times more as we move into scoping, PFS, Feasibility study and BFS. That's normal for a resource exploration company - with no income coming in and expenses going out the door hoping to eventually to exploit value in their assets. At least we have a maiden JORC and what looks like a very good asset we can build on. At the end of the day, it should be about the asset - and the management need to show how they can prove its worth.
Oiltap100
05 Mar 2018
Is this a Market question of funding given Beaufort demise? Need that statement from the management.
Oiltap100
04 Mar 2018
Placing options [link] I guess that Beaufort’s administrators will not be taking up the 50m share options that Beaumont securities were granted for arranging finance last November.The BOD need to explain their plans to fund the scoping study going forward.
Oiltap100
04 Mar 2018
Posted by Mr Contrarian on Twitter Very interesting.Beaufort Securities.[link]
Oiltap100
03 Mar 2018
Looking forward to Next steps being announced by the BOD. The asset is what it’s all about and should speak for itself in due course IMO.
Oiltap100
02 Mar 2018
Re: Beaufort Securities [link] Beaufort just got more interesting
Oiltap100
02 Mar 2018
Beaufort Securities [link] used to do work for FCR...
Oiltap100
02 Mar 2018
Re: Update It's a good question.
