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FRALF was a great play. But now no longer around. Bought out by Duluth Metals.
Franconia is now merged with Duluth Metals (DULMF), (DM) on the Canadian Exchange. And is no longer trading as (FRALF).
Duluth shares are in my account.
Got 97% Duluth shares 3% cash. Worked out to about .94 per Franconia share.
No more Franconia. Onward with Duluth Metals.
Done deal. Franconia delisted on or around March 9th 2011
http://www.prnewswire.com/news-releases/duluth-metals-and-franconia-minerals-complete-plan-of-arrangement-117544913.html
Shareholders approved Duluth Metals deal.
http://www.prnewswire.com/news-releases/franconia-minerals-shareholders-approve-arrangement-with-duluth-metals-117331638.html
Yeah, I thought about it @ .89. And I don't get that. Still would like all Duluth shares.
Good luck Zenner.
Oooo'WOW! Am I ever kicking MYSELF. I decided to put a sell limit order in at .88 - for a just in case scenario, but didn't think they would be bought up. They ate'em up! Yesterday at .8881... now I return from a curling bonspiel to find FRALF OVER the DM offer price... never thought that would happen.
Glad to see it there for you holders... wish I was still one.
Looks like I'll have to wait for an entry point in DULMF at a premium in comparison to what I once had.
GL all,
Zenner
Great news. Thanks Zenner.
Just received some information via email from IR. I sent an email request on some questions relating to the buyout.
When:
The shareholder meeting date has been set for March 3 at the Hilton Hotel in Toronto at 10 a.m.
How it will work:
The proxy solicitor for the company will send you voting materials and probably call you if you don’t vote.
Voting is highly encouraged.
With your voting materials you will get information on how to request your preferred allocation of stock and cash, but that actual distributions will be based on final tallies of distribution requests. Once the transaction closes you would get your distribution.
Zenner
** I put this exact post on the Yahoo boards too **
Yep, I'm with you, TDBK. Too bad for the 50/50, a full amount of DULMF shares would be great, but I won't expect it.
Another huge volume day at the high of the year too - odd.
Zenner
I am voting yes. It only makes sense for them to merge. Tho I think it was worth a little more. It also looks to me it will pass. And I am hoping to get all Duluth Metals shares. Did not care for the 50/50 thing either.
TDBK, thanks man. I was thinking that they might have decided a definite day already but didn't PR it. Oh well, so far so good then.
Have you heard any rumblings on anything else having to do with the deal? Some on the Yahoo board are saying that most are definitely voting yes - which is what I would do.
...but sure is tempting to just take the money and run.
Zenner
They just said in the PR the vote is expected in Febuary.
We should here something real soon. I would expect.
Does anyone know when the vote is going to be held?
I thought I saw someone post Feb. 3 somewhere, but I can't remember for sure if they were talking about the deal.
I tried selling my shares, once at .86, then once at .85 - no takers for some odd reason (maybe the 'all or none').
TIA
Zenner
Thanks! I will
Here's a stock I'm putting some of my fralf money into tomarrow.
(fralf money doesn't dry out till tomarrow)
http://finance.yahoo.com/q?s=PNCKF.OB
It's in alaska and manitoba i believe,,,,In january they are going to release their drilling analisis from 2010 could be interesting..
check it out yourself, lots of DD :]
Yes, you are right. They are along the western margin of the Duluth Complex. I was thinking they were drilling in the Iron Range area. I do have them included in the Ibox on the other board I Moderate "Mesabi Iron Range/Duluth Complex" Board.
That would be hard to invest in directly they are a big outfit with interest all over the would.
Thanks for the links.
As far as I know, Cardero does not have anything in the Duluth Complex.
They do not seem to interested in this right now. They are still sitting on the Mesaba Deposit that is next to Polymet and just N. E. of them. I am thinking that once Polymet get the permits that they will try to acquire it from Teck. It's about 1 billion tons @ .46% copper and .12% nickel.
Say, TD, I was wondering if you know and if you could help me out with something?
Whatever happened to TCK's position on the Range?
I haven't heard of anything of them except for owning some land rights. It seems like nothing is ever mentioned of them anymore.
Thanks,
Zenner
And CDY :)
Just missed the boat here...
Yes, and that is only the begining.
You can still look at Duluth Metals and Polymet.
Congrats everyone!
I was planning to buy in January with my fresh IRA funds :)
Oh well...
So many stocks, so little money!
I'm guessing most of you here will at least double your money with this deal?
You could get.90 if you wanted to wait till Febuary.
So--What if tomarrow is the 2nd day of the buy out or buy up???
I think I'll make up a second sell order for that chance....
I had a 70 cent sell order that filled this morning at 9:30 for 83.22 cents...:)
worst case scenario is it doesn't sell....:)
You can listen the the CC Here.
http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=3349060
News Tribune already on top of it:
http://www.duluthnewstribune.com/event/article/id/186860/
Great news! I am thinking I will hold. I like DM too.
Even more potential there now.
NEWS: Duluth Metals and Franconia Minerals Enter Into Arrangement Agreement; Consolidates Position in the Duluth Complex, Minnesota
http://finance.yahoo.com/news/Duluth-Metals-and-Franconia-ccn-805340965.html?x=0&.v=1
M'kay, now the question is, is it wise to sell or hold?
I've never had to deal with this type of thing with a stock being bought up.
Merry Xmas!!
Zenner
Yeah, they shouldn't have to pimp it very hard, because the numbers speak for themselves. I just can't wait for the day when it becomes a feeding frenzy up there by the big boys clamoring to get a piece of the pie... like you said, once Poly clears the way, of course.
It's just smart investing, and will be a nice nest egg once all that red tape is taken down.
Zenner
They are sitting on a nice deposit. Can not wait for PLM to clear the way. Then this should move along very well.
Thanks Z-Axis
Confirming prior drill results:
http://finance.yahoo.com/news/Franconia-Files-Technical-ccn-1178252251.html?x=0&.v=1
Lets mine copper in Minnesota:
http://www.winonadailynews.com/news/opinion/editorial/columnists/article_72d20e90-0594-11e0-84dc-001cc4c03286.html
WO-WO-WOW
Up 13% and still rolling,,,,Somebody knows something,,,,
This thing has really swung crazy in the last month!!
Yes, they are looking for a big brother. And I belive they have something in the works. We will know before this loan is due.
Great stuff Mr. Knife,,,,,
I'm not sure if the loan made the price go up or down this week, but that was a good find,,,,The price swing was probably unrelated.
I wonder what the rate of burn is for fralf or how long the money will last? I assume they are looking for a wealthy big brother to get some real financing,
Also fralf bought out their partner to increase their (our) share of the pie and I'm sure that ate up some capital...
I found this article through your link to the franconia site,,
it's a bit dated but i think this interview was in 2010...
I really like it as it puts fralf in perspective to its neighbors...plm...dulmf...
http://www.franconiaminerals.com/i/pdf/BirchLake-Feb2010.pdf
hope this link works--we'll see..lol
Hmmph, well, at least it's something to help keep the lights on. Hopefully we'll get some news on partnerships or other sometime soon.
They have 1 full year to pay the load back, and I wonder how they're going to do that?
Thanks for the heads-up, TDBK.
They got a loan to hold them over.
http://www.digitaljournal.com/pr/180057
I have looked. Can not find it. It is in the print addition. Heard there is nothing new in it. But sure does help spread the word.
There was also an article the Minneapolis Tribune on the 15th that is online.
http://www.startribune.com/business/108291454.html?elr=KArksD:aDyaEP:kD:aU2EkP7K_t:aDyaEP:kD:aUiD3aPc:_Yyc:aU7DYaGEP7vDEh7P:DiUs
There was mention on the YMB plm that there was something in the wall street journal today about franconia and some of the other mining efforts in the area....does anyone have a link or a synopsis(SP) of the content.....????---:)-
Could cause movement tomarrow!!!
Thanks, iceman.
more GOOD NEWS====
http://finance.yahoo.com/news/Franconia-Minerals-Intends-to-ccn-3501572500.html?x=0&.v=1
--:}=
Interview with CEO Brian Gavin. He says Polymet will be first and Franconia will be the second nickel mine in US.
Link:
http://community.nasdaq.com/News/2010-10/ceo-franconia-ready-to-embark-upon-minnesota-minedevelopment-studies.aspx?storyid=42735
When these guys get a backer, this is going to fly!
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