FFM 0.94% $1.05 firefly metals ltd

Ann: Acquisition of Green Bay Copper-Gold Project, page-37

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  1. st7
    29 Posts.
    From my very "laymans" perspective this all reads quite well. Though, I might be getting sucked in again. I've purchased at half a cent and 20c and all the way in between, tried (pretty unsuccessfully) to trade a portion and keep a portion for the longer-term potential. Again, I'll have to participate in the SPP to avoid some dilution and average down again. But, again this seems like it should be a multi-bagger. I've thrown out the philosophy of you shouldn't invest in trading stocks, as the story again appears to have gotten better and I've become a long-term holder.

    I'm not sure of a company like Teck Resources status now, but surprised they haven't picked up Green Bay, it's right in their backyard. After a drilling campaign (and due to Teck selling non-core assets) in 2011 they sold their 34% stake in the South Australian tenement/mine Carrapateena for $134million US to Oz Minerals. Carrapateena is now a significant mine in SA, with estimates of 4.4m tonnes of Copper and 6m tonnes of AU. I remember the excitement at the time with the 1.6% Cu and less than a gram a tonne of Gold results coming out. A comparison with Carrapateena would be interesting (I don't have the nous).

    GLTAH.
 
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