Formation Metals Inc. Prod. Q1-2/11 Cobalt

Der Titel wurde in die Explorer timeline aufgenommen:
http://www.ariva.de/forum/Explorer-timeline-411148

07 Formation Metals Inc.                               Prod. Q1-2/11
http://www.ariva.de/formation_metals_inc._registered_shares_o.n.-aktie
WKN: A0YEA0
ISIN: CA34637V1013
Symbol: FMETF
34,5MioAktien outstanding, 38,4MioAktien fully diluted, Depht Nil
Cobalt 33.3Moz 42$/ibs - 7,73$/Ibs, Kupfer 39.2Moz, Gold 41.400oz,
insgesamt = 1,575Mrd$
Uran, Mine life + inferred, LOM 14 Jahre, alles genehmigt!
http://www.formationmetals.com/s/Home.asp
http://www.formationmetals.com/s/Presentations.asp
http://www.formationmetals.com/s/News.asp?ReportID=397291
http://www.formationmetals.com/s/News.asp?ReportID=199912
http://www.minenportal.de/unternehmen_snapshot.php?mid=477
http://www.ariva.de/news/...r-Errichtung-der-Kobaltmine-Idaho-3151173  

By JAMES KANTER
Published: June 16, 2010
http://www.nytimes.com/2010/06/17/business/global/17minerals.html?dbk  

Formation Metals Finalizes Agreement for Powerline Right of Way on Idaho Cobalt Project
http://www.formationmetals.com/s/News.asp?ReportID=405239  

2010, June Issue
https://cruonline.crugroup.com/...obaltOutlook/tabid/340/Default.aspx  

http://www.financial.de/news/unternehmensnews/...kobaltprojekt-idaho/  

June 22, 2010
http://www.formationmetals.com/s/News.asp?ReportID=406136  

http://www.4investors.de/php_fe/...php?sektion=dowjones&ID=174088  

Formation Metals Explores Funding Options For The Idaho Cobalt Project
June 30, 2010
http://www.formationmetals.com/s/CobaltNews.asp?ReportID=407664  

Formation Metals' Uranium Project 2010 Winter Drilling Discovers Potential New Mineralized Structure
http://www.formationmetals.com/s/News.asp?ReportID=408378  

Formation Metals Drills to Optimize Mine Design and Assess Rare Earth Elements on Cobalt Project
http://www.formationmetals.com/s/News.asp?ReportID=410890  

Informativer Hintergrund-Artikel zu den aktuellen Entwicklungen und Aussichten bei Formation Metals:

http://www.rohstoffe-go.de/rohstoff/rohstoffnews/...nung_ID88136.html

Bei Formation Metals laufen die Arbeiten auf der  Liegenschaft in den USA auf Hochtouren. Nun wird das Gelände auch  hinsichtlich des Vorkommens Seltener Erden unter die Lupe genommen.

[...]

Die Tätigkeiten von Formation Metals werden von politischer Seite  unterstützt. Mitglieder des US-Senats und des Kongresses sind darin  involviert. Der Gouverneur von Idaho macht ebenfalls deutlich, dass die  Aktivitäten des kanadischen Unternehmens für seinen Staat wichtig sind.

 

... on Minerals Map
B PHIL TAYLOR of Greenwire
Published: August 26, 2010
http://www.nytimes.com/gwire/2010/08/26/...ne-57691.html?pagewanted=1  

Formation Metals Receives Stimulus Act Recovery Zone Facility Bond Allocation of $46.7 Million from State of Idaho

http://www.formationmetals.com/s/News.asp?ReportID=419232
(in Kürze sicherlich auch übersetzt unter http://www.formationmetals.com/s/GermanNews.asp zu finden)

Die extrem erfreuliche Nachricht nach langer Durststrecke schlug sich bereits gestern mit +25% im deutschen Kurs wieder, bin gespannt auf die Kurse der TSX :-)

 

 

By Tiisetso Motsoeneng

CAPE TOWN, Feb 7 (Reuters) - Buyers of cobalt should diversify
away from the Democratic Republic of Congo due to
heightened political risk in one of the world's biggest producer
of the industrial metal, a consultant said on Monday
"The DRC is seen as a high risk venture and there's a very
real drive even by China to diversify away from DRC reliance,"
Lara Smith, an analyst at Core Consultants told investors
at a mining conference. Smith said 50 percent of
global cobalt reserves were in the central African country,
but only 5 percent of fine cobalt was produced in the region.
In contrast, China produces nearly 40 percent of fine
cobalt.
In a bid to encourage beneficiation -- crushing and separating
ore into valuable substances -- the DRC government
last year introduced a 60 percent tax on unbeneficiated ore
and suspended the issuing of new mineral concessions, she
said. Smith expects the price of cobalt -- used in the cellular
phone batteries -- to average $18-20 per pound over the
next 12 months helped by demand for new wireless phones
in emerging markets, cellular phone batteries sector and
hybrid cars.
Commenting on other minor metals, Smith said the price of
lithium, used in the production of glass and ceramics is
expected to average $4,400-4,600 per tonne over the next
five years before rising to $5,500 per tonne.
She said no major increase in ferrochrome supply was expected
before 2015 due to power constraints in South Africa,
the top producer of the steel-making ingredient.  

Kurs ziemlich runtergekommen.

jeder Rückgang auf TSX  um 1 - 2  cent  wird sofort wieder aufgekauft

bisher 1,8 mio Stücke gehandelt. jetzt bei 0, 60- 0,63 C$

Werbecampagne  von FCO ist angelaufen.

weiter Finanzierung auch kein Problem.

mfg
Arriba1  

Die Finanzierung wird aslo  so oder anders auf jeden Fall vorgenommen.


Grandich Client Formation Metals

To those who have inquired about Formation Metals, below is an email Rick Honsinger of FCO sent a reader who had first emailed me:

Hello Mike,

Peter passed on your email to me and I have taken the liberty of responding back to you directly.  See my response below that I sent to another shareholder with obvious similar concerns.  Feel free to call me directly to discuss if you like, or drop me an email with your number and I will call you back.  We hope to get an update out to Peter next week.

Best Regards,
Rick

E.R. (Rick) Honsinger, P.Geo.
VP Corporate Communications
604-682-6229, Ext 2

Formation Metals Inc.

rhonsinger@FormationMetals.com

www.formationmetals.com

Thanks for the email.  We can certainly appreciate your frustration with the share price – we are all shareholders here.  There is a complete disconnect between what the markets are valuing companies at and reality right now – and we are not alone.  There is no material reason for the decline in share price – construction is continuing on track and we are moving forward with the financing and, as of today at any rate, we are still on track for start-up of production later in Q2-2012.  I believe the rally in the markets today in response to the EU summit meeting held to resolve the EU sovereign debt Wednesday was short lived – see the headlines attached.

Regarding the “Deadline to arrange additional support” please understand that this is not a make or break deadline.  One, we may be able to extend it if necessary (and of this I am not sure…), but if it cannot be extended, then the bonds are simply removed from the equation and we continue discussions with the banks for a straight debt financing.  The banks don’t distinguish between a Letter of Credit to support bonds, or writing us a cheque in a debt financing – the due diligence process is identical.  If we cannot take advantage of the bonds (which is preferable, as it would mean we could get rid of the banks quicker), the we will do what 90% of all mining company’s do – raise money through equity (done) and debt, typically with a bank.

The current decline is the share price has everything to do with the current world financial crisis and redemption calls on funds.  In my opinion, the selling it is the result of a fund that that is in trouble that has numerous redemption calls and must come up with cash to put money in their clients’ accounts who have sold their mutual fund – most likely those that are heavily weighted in resource stocks that have taken more than a 50% decline over the last couple of months.  The selling is typically done through House 1 (Anonymous) as the sellers do not want to be identified.  If numerous clients all sell (redeem) at the same time, the funds have no choice but to liquidate to come up with cash to put in their accounts and in doing so, drive the value of the stocks down further.  It is also month end and we are entering tax loss selling season.

House 1 has been relentlessly selling over the last couple of months.   In September, one house alone was responsible for over 90% of the selling from Anonymous, and anonymous was the largest seller that month.  We have $55 Million in the bank (as at Aug31, 2011) and the market valuation of our stock is currently $38 Million !  They are discounting our cash by 30% – and giving zero value for the cobalt project.  That is NOT a reaction to “uncertainty in financing” – for a cashed up company with no debt.

There is little “promotion” that will stem this sort of selling – and without a solid foundation and a logical approach, it would be short lived.  Many would look at this market as an opportunity, while other panic and bail out.  I know exactly where at least three hundred thousand shares of buying over the last three days came from, and as you can see, this didn’t move the stock at all.

We have $55 million in cash in the bank and a project with an NPV (discounted 8%) worth some $88 million in the bare bones base case scenario.  That’s $143 million and the market is valuing us at $38 million – 30% less than cash in the bank.  The recent news release was to demonstrate how we are moving forward despite the markets around us – and that we have enough money in the bank to weather any financial storm.

I did an radio interview with Al Korelin of the Korelin Economics that elaborated on this which should be out tomorrow sometime.  (www.kereport.com)

Best Regards,

Rick  

FORMATION METALS ORD (FCO)    
Börsenplatz Währung Letzter Preis  12:29:41 Veränderung
Toronto   CAD   .63   +0.11 (+21.2%)

hier noch:

 

Istdaten		Prognosedaten
	2008	2009	2010		2011	2012	2013
Ergebnis je Aktie	-0.14	-0.01	-0.14		NA	0.22	0.28

 

FCO.TO
FORMATION METALS INC.
0.65 volume 1,999,175 Up 8.33% :)  

The Boards of Directors of the Bonds' issuers, The Industrial Development Corporation of Lemhi County, and The Industrial Development Corporation of Shoshone County, Idaho, both met in special sessions late last week to approve the Amended and Restated Indentures of Trust which authorized this modified bond structure.

"This is not bank debt - this is bond debt" stated Mari-Ann Green, C.E.O. of Formation Metals Inc. She continued, "Therefore, including the interest on the letter of credit, the debt carries a floating interest rate which is currently less than 60 basis points. The bonds mature in 28 years and there is no obligation to repay the principal until maturity. In addition, they can be redeemed by the Company at par at any time.

http://www.formationmetals.com/s/News.asp?ReportID=492053

mfg  

"Limiting construction over the winter months will affect the schedule for initial production, but at this point, we expect it will be minimal", stated Mari-Ann Green, CEO of Formation Metals Inc. She continued, "Right now the Company is concentrating its efforts on securing the credit support necessary for the Recovery Zone Facility Bonds [see Company News Release dated November 22, 2011]. Once this is in place, the Company intends to prepare an updated construction and production schedule."

http://www.formationmetals.com/s/News.asp?ReportID=494771

FCO ist auf gutem Weg und geht lediglich von geringen Verzögerungen wegen Wintereinbruch aus.

mfg
Arriba1  

Es kommt Bewegung auf

FORMATION METALS ORD 0.63 CAD 0.05 +8.62 % vol 293'110

Der Chart zeigt, wohin die Reise gehen kann

http://stockcharts.com/c-sc/sc?s=FCO.TO&p=D&b=5&g=0&i=0&w=1250&h=868&r=8188

 

FCO.TO
FORMATION METALS INC.
0.67 volume 635,295 Up 13.56%

 

MarketWire · Mehr Nachrichten von MarketWire
Union Bank Takes Over as Lead Arranger for Formation Metals' Cobalt Project's US$80 Million Credit Facility
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/07/12 -- Formation Metals Inc. (TSX: FCO) ("Formation") (the "Company") announced today it has signed an agreement with Union Bank, N.A. ("UB") mandating UB as Lead Arranger to provide a credit facility supporting the Company's US$77.7 million in tax exempt Recovery Zone Facility Bonds (the "Bonds").

A portion of the proceeds from the sale of the Bonds is being used to finance the development of Formation's Idaho Cobalt Project (the "ICP") with the remaining portion held in trust in the Company's construction account. The credit facility will provide letter of credit support, which will free restricted cash from the Bonds for the further development of the ICP. It is expected that the transaction will close on or about March 15, 2012. The ICP consists of the mine and concentrator near Salmon, Idaho and a cobalt production facility near Kellogg, Idaho.

UB was involved as one of the key syndicate members in a previously structured credit facility with a major Eurozone bank as the lead arranger. The facility could not be finalized due to the prevailing Eurozone debt market turmoil. During the previous structuring efforts, a favorable independent engineering report was completed along with two positive independent cobalt market studies. Extensive legal due diligence was also successfully completed. UB is proposing to arrange a club of underwriters that will include themselves and at their discretion, additional lenders.

"Although the Eurozone situation has impacted the financial markets in general, as a US institution that is part of the Mitsubishi UFJ Financial Group, Union Bank has been far less impacted by the Eurozone situation than the Eurozone banks," commented Mari-Ann Green, CEO of Formation Metals. "We are very pleased to be able to work with Union Bank. Their prior involvement as a syndicate member will allow them to quickly move forward on structuring the new facility."

Initial production from the ICP is targeted for Q4 of this year. During the winter months, Formation has continued to advance construction and engineering on the ICP, including: additional detailed engineering, concrete work, refurbishing the copper circuits at the cobalt production facility, mine portal bench work and rock bolting at the mine site.

 

Formation Metals nimmt natürlich auch auf der größten Rohstoff-Messe der Welt in Toronto teil, die seit heute läuft.

Bei Formation wird es jetzt richtig spannend. Am 15. März ist der Stichtag bzgl. des Abschlusses des großen 80-Millionen US Dollar Kredites mit der Union Bank, der gerade ausgehandelt wird.

"A portion of the proceeds from the sale of the Bonds is being used to finance the development of Formation's Idaho Cobalt Project (the "ICP") with the remaining portion held in trust in the Company's construction account. The credit facility will provide letter of credit support , which will free restricted cash from the Bonds for the further development of the ICP. It is expected that the transaction will close on or about March 15, 2012. The ICP consists of the mine and concentrator near Salmon, Idaho and a cobalt production facility near Kellogg, Idaho."

In der Construction Gallery kann man sich anschauen, wie die Konstruktion der Kobalt-Mine vorangeht: http://www.formationmetals.com/s/ConstructionGallery.asp

Leider sind die letzten Bilder aus Dezember, da wird sicher bald ein Update kommen

 

Schauen wir mal, ob sich auch positive Kursimpulse nach der PDAC ergeben, wäre schließlich nicht das erste Mal.

Come Visit Us at the PDAC
- Formation Metals Booth 2416A -
Sunday, Monday, March 4th and 5th, 2012
Metro Toronto Convention Centre

Management of Formation Metals would also like to invite you to attend

A Presentation by the CEO, Mari-Ann Green
at the PDAC

Tuesday, March 6, 4:30 pm Technical Session
- Financing to Production -
Metro Toronto Convention Centre, Room 713 South Building