TSXV:FCO.H - Post by User
Post by
millionvesteron Sep 22, 2010 8:22am
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Post# 17477637
LAST CHANCE TO GET IN THIS CHEAP!
LAST CHANCE TO GET IN THIS CHEAP!FCO is doing presentations over the next 10 days.
They are currently considering various financing options. Getting the last 50 million required from the 90 already secured is no challenge. From what I heard they are currently considering various options and trying to choose the best one. As a last-step resort, they are considering selling minerals from the ground prior to mining to secure the funds, so the mine will definitely be in production by late 2011 early 2012.
I heard they will be making an announcement to the last step of financing VERY SOON. There will NOT be share dilution. We can expect shares to be issued sometime in 2011, not 2010. Management is focused on building shareholder equity, and they definitely have strong reason to if you look at the options secured a few months back.
I have moved considerable funds into this stock because it is a guaranteed 7-8 bagger over the next 2 years. The most entertaining of things being their current market cap sits around 50 million, and their mine at today's cobalt prices is valued at about 1 billion over a low-end 10-year mining life that the bank feasilibity study gave. The actual life will most likely be closer to 18-30 years... and the current feasibility doesn't take into account rare earth minerals, gold, or silver - which they are re-assessing right now.
50 million is what they'll be making first year through cobalt at cobalt being $20/lb (current prices). Just a couple of years back Cobalt was trading at $40-50/lb and is predicted to return to these levels very soon as production picks back up.
Like I said, 2.25 over the next couple of weeks. We're in for a steep cliff upwards from here... there's just NO RISK at this point, and the market hasn't realized the true value.
GLTA
-Millionvester