FXG

4.71%

8.9¢ felix gold limited

"No capital raises to come. They have funding options including:...

First 31 Last

Share
Profile

Follow
Plummage

932 Posts.

641

31/08/24

15:18

Post #: 75469925
Share

Originally posted by Producer: ↑

Hey Uname101. There will be no capital raise. Their management team, those managing the founding shareholder Mine Discovery Fund (MDF) fiercely do not want to dilute.

I would encourage you to look at the presentation that they gave on Thursday. https://felixgold.investorportal.com.au/investors/#company-presentation

In this they noted:
- Antimony production by Dec 2025. They have antimony showing at surface. They plan to use an APMA (Application for a Permit to Mine in Alaska) - this is designed for fast tracking small scale mining operations. This...may...allow them to get some cashflow from simple operations that can be used to fund larger validation drilling and a larger operational feasibility study.
- No capital raises to come. They have funding options including: JV agreement with the Critical Minerals Alliance (CMA) yesterday in which they have obtained AUD50M in funding commitments to exploit critical minerals under their arrangement with the first nations tribes there.
- "There is lots of news to come over the next 6 weeks".
- Please note that the modus operandi of the Mine Discovery Fund is to discover and sell. They do not want to be developers of miners...they'll leave that to others. I appreciate there's a contradiction here from the above point, but the point is they do not want to raise money to develop a plant. They want asset sales.
- They have spent 2 years negotiating the CMA deal and that has included trips to Washington and NY to secure government interest in funding. They have the attention of key decision makers and grant providers.

PEER GROUP
Note these other companies with antimony. If anyone finds others, do please post! Note that everyone across the sector will need to raise cash.

FXG has disappointed many, given it's fall from 25c IPO to 3c and that they've spent $17M drilling for "only" ~850koz. However, it's unique in that management are exceptional and do not want to raise money, and they have so many funding options open to them. There's no plant needed to be developed, and so PFS and DFS studies are going to be cheap, cheap.

With respect to the peer group...I wouldn't go anywhere near SXG nor LRV. I presently know nothing of the other peers. Perpetua has agreements in place with US authorities, but is building a large scale plant on National Forest Service lands...so that's not a fast track production process!
Note: I am an owner of FXG have been buying from 4.0c to 9.5c.

Expand

"No capital raises to come. They have funding options including: JV agreement with the Critical Minerals Alliance (CMA) yesterday in which they have obtained AUD50M in funding commitments to exploit critical minerals under their arrangement with the first nations tribes there".

Are you saying that FXG has a JV with CMA? Or does FXG have access USD$50m?? Why hasn't this been announced?

FXG Price at posting: 8.9¢ Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

CCO

The Calmer Co’s Anthony Noble reflects on record breaking FY24

LLC

Lendlease sells off US east coast construction operations in latest global divestment push

PYC

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

TBN

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

VYS

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

CYM

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

HVN

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

HLX

Helix investor makes partial takeover bid, proposing board changes

First 31 Last

Add FXG (ASX) to my watchlist

(20min delay)
Last 8.9¢		Change 0.004(4.71%)		Mkt cap ! $22.74M

Open	High	Low	Value	Volume
8.5¢	9.1¢	8.4¢	$266.0K	2.984M

Buyers (Bids)

No.	Vol.	Price($)
1	145726	8.9¢

Sellers (Offers)

Price($)	Vol.	No.
9.0¢	50000	1

View Market Depth

No.	Vol.	Price($)
1	4388	0.088
2	254186	0.087
1	30000	0.084
1	12048	0.083
2	84340	0.082

Price($)	Vol.	No.
0.090	50000	1
0.091	110000	2
0.092	235772	2
0.093	180000	2
0.095	257750	5

Last trade - 16.10pm 30/08/2024 (20 minute delay)

FXG (ASX) Chart

"No capital raises to come. They have funding options including:...

The Calmer Co’s Anthony Noble reflects on record breaking FY24

Lendlease sells off US east coast construction operations in latest global divestment push

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Helix investor makes partial takeover bid, proposing board changes

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

"No capital raises to come. They have funding options including:...

Top Stories

The Calmer Co’s Anthony Noble reflects on record breaking FY24

Lendlease sells off US east coast construction operations in latest global divestment push

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Helix investor makes partial takeover bid, proposing board changes

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News