I guess now the question is what sort of assets, revenue and such is Amazon Goldsands bring to the table....
Pretty discouraging....fortunately not too heavily invested here.
Well, for good or ill I threw some money at this with a bid of .051 and they filled my order right away. It's always hard to know when you're buying at or near the bottom. The falling knife analogy is pretty accurate. I've been cut a few times. I guess we'll see.
I like buying at the bid...but then when someone is waiting to hit your bid I don't know that that's a good thing either. LOL
I figure that in all likelihood we will hear something when they file their 10K or by the end of the month. As posted below or in ibox I forget where, options to acquire the mines are still alive and current fees paid. Now all we need is a joint venture partner to help us mine some Nickle.
The only thing I can see is that some of the options have expired and the price is being held down till new options are set. Otherwise I can't see any reason why the price is down at these levels. The 2.6 million dollars in the treasury works out to almost .07 cents per share cash value with 36 million shares outstanding. With the management team that's in place this stock is way undervalued. ALL IMO
Yeah I pretty well read through all the PRs, filings and information on their website. Fundementally, I don't think anything has changed since it was trading over a $1.00 except for the the stock price.
Now this is either a big bargain or something is wrong. I'm just trying to decide which is the case. Oh yeah, thanks for the reply!
There's not too many boardmarks here. :)
Finmetal Identifies a Nickel Sulphide Zone at Halvala Mine
Drilling to Commence in December
11/12/2007 | 6:30:00 PM
Tampere, Finland - November 13 th, 2007 - Finmetal Mining Ltd. (OTCBB: FNMM) is pleased to announce that a three dimensional compilation of the historical data at its Halvala joint venture is complete, and has successfully delineated a discrete steeply-dipping zone of nickel sulphides that is open at depth. Several historical holes drilled by the Geological Survey of Finland have been surveyed with down-hole electromagnetics (EM) and an airborne EM survey is currently in progress.
After plotting and mapping the extensive archive of historic data, 3-D computer models were generated that provided a better understanding of the Halvala Mine's exploration potential. FinMetal VP of Exploration, geophysicist Steve Balch, designed and supervised the implementation of a US $800,000 airborne and down-hole electromagnetic geophysics (EM) program.
Mr Balch said, "We are highly optimistic that additional zones of nickel sulphides are waiting to be discovered. In fact, our Tainiovarra nickel property, which will soon be flown, is one of our top prospects for developing an open-pit nickel mine. Weather permitting, it as well as other significant targets in the Enonkoski region, will continue to be flown over the next 2 to 3 weeks for the remaining 3000km of a 6000km program, bringing this phase of exploration to completion."
Drilling is scheduled to start in early December. Three proposed drill holes at Halvala will initially target the gap between historic drill holes KRM-HA-29 (0.62% Ni, 0.12% Cu over 4.15 m), KRM-HA-30 (1.95% Ni, 0.40% Cu over 18.64 m), KRM-HA-35B (1.27% Ni, 0.22% Cu over 8.53 m) and KRM-HA-39 (0.62% Ni, 0.59% Cu over 5.49 m). In addition, the zone will be tested at depth where it remains open.
Former Inco VP of Exploration and current FinMetal director, Bob Horn stated, "We consider the Halvala Mine is our best target for the discovery of an ore body that may be placed rapidly into production. This is due to its historic intersections of high-grade nickel and the fact that modern geophysics has never been used to explore the property. The geophysical techniques we are using are particularly effective for nickel sulphide exploration in glaciated terrains and have been used very effectively in all in the major Canadian nickel districts including Sudbury, Voisey's Bay, Thompson and Raglan. At Inco we used our geological knowledge and these same geophysical techniques to discover more than US$2 billion net worth of nickel over a seven year period."
Mr. Horn continued, "We have signed a contract with Finnish-based Suomen Malmi Oy to complete a minimum of 5,000 meters of drilling which we expect will provide us with a first indication of the size potential of the Halvala zone.
On Behalf of the Board:
Daniel Hunter - CEO
FinMetal Mining Ltd.
FIN-33210 Tampere, Finland
Phone: +358 3 260 4331
Fax: +358 3 260 4330
Here's a copy of the email I forwarded to them:
Any Current Information Available on FNMM?
I am a shareholder to FNMM....I have followed the company since it was recommended by Bill Matthews in the Cheap Investor. I watched it trade down and finally bought some at 50 cents per share....then watched it trade down to current levels.
I am tempted to buy more, but the way things are going I have some doubts about the long term health of the company....whether it will actually commence mining or not.
Any information or IR contacts that you could provide would be greatly appreciated.
Hey FNMM Guys....I first read about this Bill Matthew's Cheap INvestor. I've jus sent off an email to company contact trying to find out if there is any recent information available. I will post it here if receive any response. Maybe I will give Bill a call to see if he's heard anything. Maybe if nickel rallies in value there will be more suitors for potential joint venture partners. We'll see.
WHAT WE KNOW....
As of last September (10Q) the company had a couple million bucks in the bank....and approximately 37 million shares outstanding.
As of last 8-K (1/8/08) the company was still making or else negotiating additional time to make option payments on mining properties.
I don't have any chart acumen to tell whether the decline in share price has been because of dilution or not...but I don't think so. As the volume has been fairly mundane I think its as likely that it is because of disgruntled share-or former shell holders, but who knows?
lol, it is an odd one that is for sure.
How in the heck did this thing finish even? Must have been a paint job.
LOL real good man, how about you?
Hi guys. I didn't know this one had a board. This one could be nice for us. Let's hope we see double digits tommorrow.
Looking nice so far today.
o/s is reported at 36mil, with 100mil a/s, I believe (which hasn't changed in years per the filings).
They aren't generating any revenues, but this is a promising line from their last 10Q:
We had cash of $2,631,228 as at September 30, 2007 and working capital of $2,725,506. We anticipate that we will require approximately $2,500,000 to pursue our plan of operations for the next 12 months and believe that we have sufficient working capital for the next 12 months.
We'll see what it does...
I'm not in until the day they start getting the stuff out of the ground but GLTY.
This one is looking ripe, watch it...
IMO the day they start to mine the nickel will be the day to buy, and it should be a holf for a minimum of 12 months. There's no quick fix with mining unless we get a pop on the deposits info. Thing to note is that Finland has a very expensive cost of living so mining won't be cheap (as opposed to SA) but on the flip side I don't see the Fins going for world domination and starting WW3. BWTFDIK.
Does anybody know what is going on on this stock!??!!? it's pain in allll my anusholes to see, that this fucking shit is going down down down and down although there haven't been any negative news although no positive ones, i know, but stilll: nooo negatives! what's going on?!
does anybody of you guys contact the management once in a while? i used to do, but from some point i didnt get any respond anymore. might be that i annoyed the guy i was emailing to: Dan Hunter ...
laterz and regards from GERMany
eResearch put out a Speculative Buy on this in late August and said there's a long lead time to feasibility. I bought this because nickel prices and this stock got hammered. It went up 20 cents shortly after I bought it and I sold it. I do a flip like this maybe once or twice a year. I usually hold a resource stock for at least a year.
When will they be mining in earnest the Nickel?
Thanks. I bought a couple of small cap O&G stocks recently that went south so the law of averages caught up a little.
Looks like your chance paid off!
I'm sorry you lost money on this. Generally speaking, when there is a paid mailer in circulation you can bet the sponsor of that mailer is selling the stock.
Did you buy on the basis of the mailer?
down ticks again,
Detailed Quote for Finmetal Mining Ltd. DL 6/14/2007 1:10 AM
FNMM Last: 1.01 Change: -0.16(-13.68%) Volume: 374.67 k Last Trade: 6/13/07
Today 5 Dy 1 Mo 3 Mo 1 Yr more
close52 Week Information
52 Week High
Close: 1.75 52 Week Low
Close: 0.96 52 Wk Hi
52 Wk Low
Finmetal Mining Ltd. News and Filings Sector News | Topic News Sector News
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Tue, May 29, 2007
9:00 AM FinMetal Signs MOU to Acquire 51% of Hälväla Nickel Mine - Market Wire
Tue, May 15, 2007
9:01 AM FinMetal to Test High Grade Nickel Zone in Finland - Market Wire
Tue, Apr 24, 2007
9:00 AM Exploration to Commence -- Company Hires AHMA Engineering - Market Wire
Tue, Apr 10, 2007
7:43 PM FinMetal Completes US$3,045,000 Financing - Market Wire
Thu, Apr 05, 2007
9:57 AM Company Exercises Option to Acquire Two New Gold Projects in Finland - Market Wire
Mon, Feb 26, 2007
9:00 AM FinMetal Appoints Dr. Brian Marten as Senior Consulting Geologist - Market Wire
Mon, Feb 19, 2007
9:00 AM FinMetal Appoints Stephen Balch as VP of Exploration - Market Wire
Mon, Feb 12, 2007
9:00 AM FinMetal Signs Major Agreement -- Positions Company to Acquire One of the World's Largest Portfolios of Advanced Nickel Projects - Market Wire
Thu, Feb 01, 2007
FILING Initial statement of beneficial ownership of securities - Form 3
Fri, Jan 26, 2007
FILING Report of unscheduled material events or corporate changes - Form 8-K
More News for FNMM More Filings for FNMM
Ha, this was some strong but alert! Down big from May 20th. Glad I just watched!
me again, yes, he is a very honest person. i use to see on the investment channel 26 in chgo.
this one is dated may 2007
me again, yes, he is a very honest person. i use to see on the investment channel 26 in chgo.
hi stu, i got one today. bill is pretty god at finding low pps companies.
i use to get his letter in chgo.,il.
It seems like they paid an awful lot of money to promote this one. I received the same report.
I believe some DD is called for here. Right now my feeling is that they already have a cash flow or they are setting up for huge share dumping. On my radar.
Large Publication received today by snailmail on this
company. Seems to be gearing up here for major
promotion. The disclaimer from the Cheap Investor,
Bill Mathews, editor, stated they "did not"
receive any "direct" compensation for the mailing piece.
HOWEVER, the following is quoted which is an eyecatcher:
Epsom Investment Services N.V. paid one million,
one hundred fifty-seven thousand, six hundred ninety-five
dollars to marketing vendors, to pay for all the
costs of creating and distributing this report, including printing and postage in an effort to build investor
awareness. This publication does not provide an analysis
of a company's financial position. Etc, Etc., Etc.
then start hyping and spamming! LOL!!!