Successful Businessman unlike FLPC
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
RJB: Be Wary's opinion is about as accurate as it gets. The best way to prove that the BOD are NOT fleecing investors is to off credible evidence of a plan rather than words the shows they are not! This is not easy because there's nothing tangible left to PROVE money making intent.
They say 'The Company' mined 1000 Tonnes of Antimony Ore and they claim that it will be processed, but IMO, it won't. Note they say 'The Company'. We assume this means FLPC Mined it although The Company may be someone else's. I would like to see WHEN they started Mining it, who was employed to do the work, how long it took and the amount they paid the Contractor's to Mine that 1000 Tonnes. Anyone know?!
BANBOB: It's not your fault, it happens across the whole of the Stock Markets, Globally. I have been caught out many times and vowed that the share I am currently in WILL be my last deal. It may or may not pay off, I will let you you know!
Pitman: It is extremely disappointing for investors who keep reading the same e-mail's from Bob over and over again which may get their hopes up to some degree. It wears rather thin after a while, to find that the content of such e-mail is really no different to that of all the other's. With this borne in mind, I find it quite extraordinary that the BoD are just stringing everyone along (as you say) with all talk and no apparent action?
It is grossly unfair to existing LTH to write in such a way that may sound encouraging only to find out that another couple of months down the line, nothing has changed...that we know of. Is there really a "Restructure" going on, or is it an attempted "Restructure" just to sound good? Despite what some say, it would be fair to everyone if they made it clear what the score was. If they won't do this, and they don't have to, why are they still hanging on? There must be a underlying reason for this and there's no way of telling what it could be.
We all know that money's short in FLPC, so why don't they just pack it in altogether and call in the Administrators?
I personally feel that there should be some authority that could take a look into the matter and see why they are dragging their heels so much. I'm not talking about the financial side of things, but the reason for them being so quiet as to (very unfairly) be so dilatory for so long that it is causing grave concern to those who have invested perhaps thousands of Dollars into what appears to be a 'money pit'. It is a total farce and if anyone else chooses to write to Bob R, they will simply get the same e-mail as I did, but reworded. Very strange indeed.
If you write to BR and 'demand' facts, you probably won't get a direct reply to the question, but another 'fob-off' e-mail. There is obviously a limit as to what they will tell you.
PITMAN: Yes, I read the quote, it's been on several of my e-mail's from Bob over the months. It really does beg the question, what REALLY is going on there. Weird!
So, they are using THEIR Money to keep it running, and being rather cynical (lol) 'their' money was probably once the Investor's money, but what can one really believe? We can only guess, but it's quite bizarre how they keep going for all this time and report well, nothing salient or 'tangible'at all! Something very odd is going on unless they are building a NEW company behind closed doors. Strange.
In the UK, if this were happening (it wouldn't), but if it did, we'd have the FSA on to them like a nasty rash! FSA= Financial Services Association. They would be under investigation long ago and all would come out in the wash. Maybe there is an organisation in the US that could take a look and see what is really happening through the demands of the shareholders. It would take quite an uprising to make them sit up and take note.
Bet old Trump would storm into the office thinking it was run by Immigrants and turf them all out and rip out all the Filing Cabinets and look for clues!!
Well, at least my post has stirred up the Forum somewhat! LOL
Pitman: Yes, exactly. You can create a whole company....,trade AND go bust in this time, so to secure a JV inside two years isn't much to ask. Strikes me, they haven't been trying hard enough!!
BBANBOB: Don't get over excited matey, calling 911 won't work here. No meds, no nothing. I just chose to offer up a post from Bob to see what you made of it. Admittedly, it's like all the other's but written differently, probably from his Stock Letters! LOL.
Each time I write to Bob R, he is always courteous and tells me what he wants me to know. It's repetitive, but up beat. It could be a whole lot of stalling tactics whereby nothing is happening at all!! Either way, an up beat post pasted on this Forum is better than no post from BR at all. But it DOES read well compared to the others.
You can all make of it what you will. If you think it's all tosh (Rubbish) fair enough, but if you feel that Bob is really making a good effort for the sake of the company AND his shareholder's, then take it as you will. As I said, he's not able to say much more than is legally required, but at least he is keeping the Flag Flying. Ultimately, you will get proper news via a Public Notice, but until that time, you will all have to make do with his 'normal' response which says a lot but tells us nothing at all really. Even so, as I took time to write to him, I find it fair and reasonable to share his comments here. Any news is good news.
Agree with reservations. Note my comment at the bottom.
Bob can only say so much even though it's a repetition of previous e-mail's. However, judging by the 'tone' of this mail, he sound fairly excited this time unless he's had a lunch time drink or three!
It's a JV (when ever) that will make FLPC (IMO), get this and you are all on your way to a much better deal. All he has to to is pull it off. If it doesn't happen, well.....
They've had a long time to make inquries as to who best to strike a deal with, so hopefully before summer is over, they will be up and running at 'full speed'!
THE VERY LATEST UPDATE FROM JULY 12TH 2016.
Here is a VERY POSITIVE UPDATE from Bob. He sounds very upbeat in his e-mail to me and it rather appears that very soon, the "Restructure" will probably be completed (subject to a few caveats, I'm sure), but it's LOOKING GOOD!
IT COULD BE A GOOD TIME FOR THOSE WHO ARE PREPARED TO GO 'THE WHOLE HOG' AND GET MORE WHILST THE PRICES ARE STILL DRAMATICALLY LOW! .
I can see significant gains heading this way for existing shareholder's and those who may be brave enough to take the plunge and seriously consider the massive rewards IF all goes well. Of course, there's no guarantee, but just ONE Positive Public Notice should send this 'Rocketing'. No BS, but it's on it's way!!!
GL All :)
***************************
Good day XXXXX,
In April, VP Reynolds was in Lovelock, NV; visiting and addressing items on the Fencemaker Mine operation.
A company representative has been regularly visiting the Fencemaker project and working with local government officials since 2015 “Restructuring Operation” began.
The company was in the final step of updating our Water Pollution Control Permit with the State of Nevada.
The application had been under the "public review" hearings stage during the month of May.
On May 24, 2016 the State of Nevada Division of Environmental Protection - Bureau of Mining Regulation and Reclamation (NDEP-BMRR), conducted a Water Pollution Control (WPC) compliance inspection at the Fencemaker Mine itself. No compliance issues were noted during this inspection.
Since the company recently completed the public comment period and no comments were received. The next step was receiving NDEP approval for the company’s WPC application which has been granted.
The company has now completed WPC permit and it went into effect June 23rd, 2016 and remains in effect until October 2019.
Attached is the documentation from NDEP for your review.
As you know, the mine which has been in a "stand by" status with the State of Nevada since the resignation of the former COO in December of 2014.
Starting in 2015, the company commenced an over-all “Restructuring Operation” for the entire operation.
However, before that occurred, the company had mined over 1000 tons of antimony ore and that is currently in storage waiting to be processed to a higher concentration.
The management team is now working on the next part of the “Restructuring Operation” that is a processing operation for the raw stored mined ore since the WPC permit is now finalized. The company is launching some concentration testing procedures on that stored ore.
The company management team that remained, has made monthly progress on numerous items and problems that they tapped as important for the company to move forward.
Since 2015, all those items and the monthly operation of the company are being totally funded by personal contributions from management.
Furthermore, the company has many other monthly business requirements that are also being funded by the management team.
This has resulted in the remaining management team investing thousands of personal dollars each month into the company since the “Restructuring Operation” began.
This has been indispensable that management continued to monthly fund the “Restructuring Operation” and the core operations of the business.
As for length of time of the “Restructuring Operation” that will be determined if and when an outside investor and/or a joint venture agreement is concluded.
Otherwise, the monthly management contributions which is a slow but steady procedure is the only existing alternative.
Earlier in the year, the management and board members converted company owed debt into FLPC stock, and each member now has about 80 million shares of company stock which all has been acknowledged with SEC filings.
Another example of the company’s activities is our yearly renewal of our business license with the State of Nevada was just renew for 2016-17, cost approximately $1500.
As per the statement above, the company is working closely with the State of Nevada Department of Environment Protection (NDEP) and other government agencies on our current permit requirements for keeping the Fencemaker Mine in a “stand by status” operation as well. By keeping the mine is a “stand by status” operation, if and when the company is ready to resume mining, the time required to get it up and running will be significantly quicker.
With the mine in a “stand by status” operation, it still requires and includes regular reports and testing to the State of Nevada of the mine location.
All preformed and paid for by the management team.
Lastly, the company recognizes that SEC filings are needed, conversely this will require considerable funds to fully complete.
The company will address this as quickly as possible.
Best Regards,
Bob
(It does rather seem like all the other e-mail's "restructured" from Bob, but nonetheless, it's far more positive than of late.)
I think the savvy investors are keeping well clear of this charade!
1KGM: Why do you keep mentioning Voaden? It's not me that has the gripe for a few measley $. Massive losses were sustained by others but not me. Voaden, (if you recall), isn't involved in the day to day running of FLPC (your words). If per chance, Voaden can hasten up this so-called "Restructure", all well and good. He is a Director after all, so any decision MUST affect him too, so in theory he MUST have some say in the company. Pretty obvious really!
If you are all so keen to stay here, why don't you talk to Bob and mention that his e-mail was just a revamp of previous mail's and hasn't really said anything at all. One needs to READ it rather than just look at it! LOL
What a debacle! I would like to see everyone come out of this reasonably 'unscathed', but at this rate, it seems that the potential for 100% loss is looming ever closer.
JBW: What Bob Reynolds has sent you there is a mish-mash of several e-mail's all rolled into one. He has written you a re-worded e-mail (at least two) of a virtually identical letter he sent me months ago!
The upshot of this is that absolutely NOTHING has changed in many months and clearly, they are no better off now than this time last year.
We already know about the Licence at $1500, we know the management 'continuing to fund " The program", we already know about the Ore, we know about the 'Stand By' and we know about the filings AND the cost of laying them out. In fact, everything in that e-mail is just the same as it was! It's extracts put together from the last year. It's all so blatantly obvious, that you don't need a degree to work it out. NOTHING has changed.
GO4AWILDRIDE may well have taken note of the letters I have had from Bob and placed here. He's taking the Mickey out of the Shareholder's. Surely everyone can see this? Dear oh dear. Bob needs to be much more candid about what is really going on if he is to be believed!!!!
Biff: You have come this far, so don't sell. It is possible that a few words from the BoD at the right time will help reduce your losses if it creates a Market Rally for FLPC. If this is the case and you get an opportunity to cut the loss, I just hope that you can actually sell them.
In the UK, we have something called 'Negotiated Trade'. If a share climbs very quickly, the Market 'cannot keep the pace' on sells. They put your sell request in a queue (Line). This means the Market Makers hang on to the shares as long as possible, but it could be a ruse not to have to part with them and then they can sell them to others who want to buy on a Spike and make more cash with a higher spread.
The other problem can be that sells may only be possible in tranches of say 100,000. So, if you have a million FLPC shares and you can only sell on these suggested tranches, buy the time you have sold the lot, it could be some hours in which case the Share Price may have retraced and you lose out on the rise. If it keeps climbing, sell early before the inevitable retrace and you can beat the spike! Sixth sense needed!
With FLPC (and the company I'm in), I would rather keep them until the end and lose the lot rather than miss out on a last minute rise, because there's no telling what can happen at the 11th hour. It is of course the choice of the shareholder as to the strategy they want to choose.
I wonder if anyone has been in touch with the BoD and given them a serious poke with a sharp stick? It's a year and a half now and there's most definitely something wrong now. GO4AWILDRIDE may well have hit the nail on the head, so it's time the BoD came clean and told everyone how it is. It's a jolly bad show.
Go4Wilderide: Sorry to hear that you have chosen to sell up. I don't like seeing people lose money of whatever magnitude it is. One of my losses is the equiv' of $7000 which is a fair old hit for me.
It's been such a long time now that you could be right. No company "Restructures" for this length of time without questions being asked. Having been watching for some considerable time, whilst not conclusive, the whole thing pointed to being a 'wrong-un' from day one. However, no Fat Lady has sung yet, so there's a possibility they may have something to say before the second year is up. After that, then you can bet your life it was an well organised 'Cash Cow'.
Good luck if you choose to invest elsewhere.
Whitedog3: FLPC doesn't have any active Leases/Assets. I assume you mean that Lithium is prolific on the land that WAS leased by FLPC? If so, I am surprised the landowner hasn't already exploited the potential or, if it's that 'Rich', Leased it to someone else who can turn them a profit with Royalties?
MrGold: Same as the Fencemaker Mine, they put that 'on hold' because the company has no money to justify keeping it open. It's too expensive. They have no active Mines or leases on anything at the moment because they are skint!
You are no doubt aware of the "Restructure" which has been going on for a year and a half to try to drum up enough cash to 'Progress' the company? When I last e-mailed Bob, he told me that there was still no Funding Partner nor JV able to offer funding, so their situation as far as cash Injection is concerned is still nil. He said that the BoD are putting their 'own' money in to the daily running of the business.
You can e-mail Bob Reynolds and he will confirm all this, because they are in fact in pretty much the same situation as they have been for all this time, (18 months now). Nobody know's the whole story, but the BoD would be very keen to tell everyone that good progress is being made. In his e-mail to me, he was quite candid about the fact they had found no willing partner to 'lend a hand' so-to-speak. No lies, no innuendo as some may tell you and if you want, I will place his e-mail here again for you to see and you can make your own mind up. IF there was progress, they'd tell all, but they have put out no more Public Notices since the day they went into 'Restructure'.
At this moment in time, FLPC is just an Office with a title and little all else. Don't be told anything else without FACTS. There is NO evidence to say exactly what the state of play of the "restructure" is. Even though they claim to be putting their own cash into it, this must be for a reason, so it is assumed anyway. The following posts you will read will tell you that I spout all lies about Criminal activities and "Slander", LOL. It's just something to say, that's all. I take no notice of School Yard chatter! It's quite entertaining!
There's an Old Adage that says, 'None so Bind as those that will not see'.
Nobody is giving advice, it's up the 'Buyer's to make their own mistakes. It's easily done buying FLPC Shares.
No business plan....16 months. What a shambles, my moneys safe but I feel sorry for their Creditors who have taken on board 'worthless' shares. I bet they are seething?!!
Yes, it's easy when you apply some lateral thinking. It helps some of those with less understanding as to some of the more in-depth realities behind how this share may or may not work and what it takes to make it viable in the long term. Essentially, a whole load of cash and a huge amount of successful mining which may or may not happen given the risk against cost. Cash: Something which FLPC doesn't have and is unlikely to get given the *huge risk involved, and if they get it, BIG IF, the possible...not probable, potential reward as RJB has mentioned.
I did know about the 7 Cents as it's been mentioned here on several occasions. That's when there was no Toxic Debt. The Market could react Favourably back then which was fair enough. That's all passed history now, so the entire outlook at the moment is still as you say, uncertain.
"Whether FLPC ever becomes a fully functioning junior mining company is still uncertain but many things could happen with FLPC to make it's investors's money without that ever happening and the risk/reward remains high."
At these levels it is NOT Impossible to make money if they say the right thing. They don't actually have to DO anything either, only speak the words and put it on 'paper'. The Market will react hopefully in a big way but it could be short lived. The main thing is, that IF or when, anyone buys a substantial amount, the general idea is can they sell them quickly enough to realize a profit.
This all remains to be seen, so potentially, yes a Very high risk with high reward is not out of the question. It's all down to the BoD to come up with anything which will have this effect....even if it's total BS. Either way, who cares if it achieves a positive result on the SP in time to make a very swift exit with a profit. It can be done.
JBW:
Ha! You've more or less answered your own question!!!
"No way anyone can possibly know that"?
There are over 5000 individual shareholders and that kind of statement is absolutely impossible to verify."
A 'lot' of Investors! If you suggest there are 5000+ Investors,(which you cannot know for sure), that constitutes a 'LOT'. A large quantity of anything which includes a 'quantity' of Investors, which I hasten to add will change every day so you cannot be certain there are 5000 or so at any given time. If there are this many still here, then obviously they have been waiting :)) If there weren't, many of them would be gone! (LOL!) and no doubt, a large quantity have gone, hence the VERY Low share price along with the MCAP!!
If you look at the Trades, they are insignificant, so it rather proves that thousands of them are of course still hanging around wondering what in Heaven's name is going on with their so-called "Restructure".
They can make their own choice whether to stay or go.
Perhaps FLPC would be better off selling a few Loaves & Fishes and then perhaps 'the 5000' may be content to sit it out for longer and wait for 'Judgement Day'! LOl.
I'm sure a lot of Investor's have been patient for a lot longer than 18 months! The current situation is probably worse than it was before the 18 months, and the risk has been perpetuated by the uncertainty of the wording of the last contact from B.R suggestion in his e-mail to me that they haven't exactly made any significant progress within this time.
Whether or not their 'personal' funding is a 'testimony' to suggesting that it's all going to be worth while, I don't know and cannot comment whether it will be or not. But 18 months rather tells me that they cannot find any support for funding. By now, they should have found someone: No sign of ANY Lender or JV, so if a Lender does happen along, I think he/she will look at the past several years and walk away. The cost to invest in this company to achieve a reasonable return over say a three year period, is probably a far too high a risk given what FLPC has: Fencemaker (on hold)...that's it and it's already been heavily Mined for years, so consider what it may take to get a profit to off-set the outlay? It is likely to be uneconomical. Pretty much a 'No Brainer' if you care to apply the 'if's and but's with what it could cost to get anything worth while from it.
$1M, definitely not! two, three? Double it and FLPC MAY be in with a chance if someone is prepared to risk it.
Before 1kGW starts asking me if I've ever had anything to do with Mining, well, yes. I will also point out that my partner of ten years Ex-Husband was VICE PRESIDENT of Amoco Asia, so I had considerable Feedback in that line. Oil is mining and I have studied this in UK Oiler's for over ten years, so I DO know how much it takes to drill, Strike, process, refine. But many times it's often NOTHING except a Duster, even after knowing where potentially productive Fields lie. Then there's Seismic testing, Wire Logging et al to justify a month or so of Drilling to see what it turns up. Oil 'Shows' on various levels are nothing to go by, especially if it's too hard to drill! Even if you go for Wildcat drilling at c$150,000 + per day to 3600 Feet and STILL get nothing. It's full of uncertainty unless you hit a 'Gusher'. RRL (look them up AND the Name Peter Landau) is a fine example as to how to lose money and almost go bust. A similar process has to be taken into account, except it's 'Rock' and much cheaper over all to Mine until and IF, they hit Pay Dirt.
Good evening.
"Patience is the Key", but it doesn't fit the FLPC lock. Six years of patience has only lost investors thousands of Dollars. If there was progress, don't you think that the BoD would have told you all?
"Whatever Means". I'm not a Psychic.
BeWary: Perhaps as this company has been so dead for ages, they should change their name to First Liberty Power Corp(se) LOL.
Funny how people cannot seem to get to grips with the real issues as per Hawkshaw's and your recent post about the 'Shipping of Antimony' when there's nothing to ship and no sales! There's no shipping details: No buyer name, destination and definitely no Paperwork. There's NO details of actual cost, weight, shipping costs or Monies paid because all the info. would be available for everyone to see.
As yet, there is no saleable Antimony.
I do take note of Whitedog's post about the marrying of Tin/Antimony for Batteries. That's interesting so I will take a look on Google.
These shares are 'cheap' for a good reason, but they are only 'cheap' if value later on is proven. If there's no value, they are dear at any price, especially if they don't give any form of return over any period of time...(which they haven't!)
HAWKSHAW Writes:
"have you seen the stock piles of the atamony ready to be shipped"
***************
Where is this Antimony ready to be shipped? All we know is they have 1000 Tonnes of Ore that is supposed to contain a percentage of Antimony which so far, remains un-assayed!
If there IS Antimony ready to be shipped, have you any idea who to and the amount it sold for, because if it's ready to go, it must have been paid for and there is no record of ANY 'Neat' Antimony sold to anyone? The BoD would be falling over themselves to tell us they've sold something, but there's also no reference to having had it assayed to the point where the processed Ore and the Percentage quantity of Antimony extracted has been announced or any details about it's whereabouts.
Because this is a Public Company, it's important for ALL Shareholder's to know about this shipment and when it was sold, or at least when the payment for the shipment is due as it would greatly affect the Shareprice. There has been nothing to verify this shipping deal as I think you may be getting mixed up with the 1000 Tonnes of Ore sitting in a storage depot somewhere?
Please elaborate for the guys on this Forum as I'm sure they'd like to know (so would the BoD! LOL)
BeWary: They are going to have to do one heck of a lot of digging to get past the 1940s and 1980s previous digs to even locate anything that may be worth while and then they have to test it. There's a few hundred grand gone without even finding something to sell! If and when they do, they will have to sell many tonnes of it to recoup their costs to break even.
One thing... they need to find the cash to start with or go into a JV to get the wheels rolling. A JV was mentioned by Bob in my last e-mail from him. It's unlikely to happen due to costs and the unpredictable outcome of such an exercise turning up next to nothing, so it could be money wasted, then on the other hand... but who's going to take the risk?
JOTUK. That's all old and out of date! The content is the same as the others....it's many months old but I suppose the old news IS the 'new' news... just re-written! lol. Enjoy your day anyway. Cheers. CE
The PROOF is: No Mining, No sales, No Profit, No Money, $1.3M Debt, NO sign of any tangible "Restructure", No recent Filings, Nothing since inception! NO significant Shareholder Investment which means NO Interest.
That's your PROOF. More proof? Check out the Filings (The Old one's!) There past performance is there for all to see!
RJB: "I believe the uptick in the Antimony market is very positive for FLPC and may be what eventually brings us back." (May)
It could be good if FLPC actually Mined Antimony in 'anger', but if they don't produce anything at all, the price can go sky high but it won't affect FLPC unless they actually Mine and sell something, bearing this in mind, they are a Junior 'Mining' and Exploration company that hasn't sold even one lump of anything yet.
I have been in touch with Bob Reynolds on various occasion's and if I were a Shareholder, and I was considering it a while back, I would be very disappointed in the LACK of information I have received. There attitude is positive, that's all, but that doesn't really go far enough. Actions speak louder than words and words is all it ever has been.
They need to actually DO something to give Investor's hope. The occasional 'progressing' e-mail and the 'continuing to fund the company' doesn't go far enough to be even remotely encouraging.
"Must try harder!" Like the Old School Reports if you had those? If you didn't, it was an appraisal of the Student's performance over the Year, per subject.
HUBB: "....use it in other areas to be more productive. I have been in business for 34 years, and I have owned many companies and there is one thing that the company has not done, is to give up yet! And as you know as a stock holder, they did not build Rome over night.
There is one major issue here, they have had 6 Years to do something with it, and hey, nothing's happened except massive debts which you will know about. Not even a glimmer of production or profit OR Mining. To me, this is not a successful business.
Nobody has a solution, there probably isn't one that WE know of. I have been a local Businessman for 25 years, same business and still going. You have owned many businesses, so one can assume you sold them all on or they don't exist? Anyway, that's academic. For the last 16 months, FLPC is a bit of an unknown quantity....nobody know's what really going on. All they know is they call it a "Restructure" but it doesn't seem to be restructuring very well and ALL the shareholder's haven't a clue what's happening and for my money, the BoD should be ashamed of the way the shareholder's are bring treated about ZERO Information that's any good.
No way to run a business, Hubb. You should know this if you have been a successful Businessman?
Supposition is all part of Share dealer, and we have lot more losers than winners! FLPC GO? They've almost gone! It hasn't looked very bright here for 1.5 years.
BoD is giving you all the runaround. As the Shareholder's OWN part of the company, I'm surprised that nobody has made a concerted effort to take these guys to task because all they've done for you is told you there's a "Restructure" going on. Pull the other leg, it has Bells on it!
ALL THIS TIME...Nothing, people have put their faith in this company and what have they given you. It doesn't take much to work that one out? I would be inclined to start making a few demands on the BoD, you are entitled to. The more pressure they are put under from all directions, sooner or late they are bound to crack and tell you what's really happening. What a mess, and Shareholder's are simply standing by and watching them take the 'P'.
Time to get on your Soap Boxes!
Whitedog: The Mine Owners must be clearly aware of what it may still hold? I would also make the assumption that if it were any good at all, they would pay off FLPC depending on the type of contract and get someone in who can afford to Mine it properly, Capitalise on a new lease and possibly with Royalties? Thing is, it was Mined properly in the 1940s, then the 1980. Later on, it states that, "THE Mining Team", not OUR Mining Team, had a crack at it in 2012, so "The Team" may not have been anything to do with FLPC at all, and probably the owners arranged it. If FLPC did it, there would be payments listed to an Independent Mining Crew. The test results were just issued to FLPC to look good on the records.
If it were you or me that owned it and knew they were sitting on a 'Gold Mine' (lol), I would have kicked FLPC off site long ago, so there's a very good chance that it's pretty much defunked and the owners are making a bit by keeping the cash rolling in for simply leasing a hole in the ground! However, due to costs, FLPC has put the Mine on indefinite 'Hold', so the Land owners won't be getting anything. Also, nobody else has stepped in to take over. Why? Because it's probably not viable! FLPC can't afford to do anything with it. They MUST know it's almost worthless otherwise they would have employed contractor's to come and do the business on it.
They've leased it for at least 5 + years and that's a long time to do nothing with, so I would be inclined to forget Fencemaker as a bad job. Anything any good was taken decades ago so if I were them, I would invite a proper Mining Company to come and have a go at their own cost and see what they come up with, if they get anything worth while, they could sub-lease the Mine with the owner's permission.
If it's not a defunked Mine, you need someone to prove it! It's not costing FLPC anything at the moment and they certainly won't be paying 10K a Month for anything, especially with no revenue coming in to cover their costs. Consider the BoD 'Paying out of their own pockets' to keep the business open. In less than a year, paying out 10K would make them Bankrupt which makes the Mine a non-starter from FLPCs Financial point of view.
BeWary: FACTS: There are other worrying details about the company, such as 18 million shares owned by Magna Group, LLC, and 16 million shares to the name of John M. Fife, a hedge fund manager charged with fraud. A total of 75% of the company's shares are held by insiders or 5% owners, and with a daily volume of 60 million shares, it is possible that any one of those shareholders could gain a huge profit from the holdings and depress the price. The logic of a paid pump becomes even more obvious in this case, so beware before believing FLPC for its long-term promises, and think twice before taking it up even for a short period where a correction could wipe out most of your investment.
So, you see. FACTS as requested. Doesn't bode well and has more holes as a Dutch Cheese if you dig deep enough. "Restructure" what "Restructure"? About time they told everyone the truth.
BeWary: Ref. PINK Investing.
As you will see, I was asked to post some 'ambiguities' here for all to see, so here they all are. Of course, it will be reported as Innuendo and Criminal (part of which was right) but facts are facts!!
Mr. Nicholson, we should mention that we did a quick background check on him and we found that he was once the CEO of another mineral exploration company - Terra Nostra Resources Corp. (TNRO) Unfortunately, it would seem that they have now gone bankrupt. Which, on the one hand, is a good thing since Mr. Nicholson will be able to devote his whole attention to FLPC, but on the other, it gives an air of uncertainty about the future of his current venture, especially considering their current financial situation.
BeWary: There's been a lot of odd Fiddle-Faddling going on in the past. Look:
The second report comes from the business ventures of a person called John M. Fife. Through his various companies he owns around 16 million common FLPC shares that represent nearly 10% of the total stock capital. Diligent folk that we are, we did a quick research on Mr. Fife, and we found out that he was charged by the SEC in the past with defrauding some shareholders through his hedge fund. We're not sure if FLPC's management were aware of Mr. Fife's past when they were issuing millions of shares to him but we reckon that you should certainly have it in mind.
BeWary: 2013: Ambiguity and failure to disclose information for the Shareholders. Cover up without a doubt. Ref. PINK Investing.
FLPC issued a new press-release back on Tuesday where they explained how they will finally manage to start operations in their mines, supposedly full of rare earth minerals. They say that they have allocated millions of dollars for the exploration process but we are not sure where they got the millions from. They are certainly not present in their latest financial statement covering the quarter that ended on October 31, 2012. Here's a recap of the financials:
cash: $28 thousand
current assets: $155 thousand
current liabilities: $1.3 million
*no revenue since inception*
quarterly net loss: $391 thousand
The only way they could have acquired the funding is by borrowing some money, but they are not willing to disclose how much money they obtained, what the terms of the notes are and other details that, we reckon, are rather important for the shareholders.
Witholding info. from shareholder's is UNDERHAND and UNFAIR considering the SHAREHOLDERS ARE PART OWNERS AND ENTITLED TO KNOW WHAT AFFECTS THE COMPANY THEY ARE INVESTED IN. FACT.
"Antimony market is gaining interest again and the BOD of FLPC is funding the operation as a bridge to something better and not bailing out."
Actually, what is more curious is the claim that the BoD is funding FLPC. This is probably a 'sob story', just a guess, but they say they have been funding the show for months, possibly so that the Investor's think exactly this...there must be something else in the Pipeline. It cannot be proven or disproven though. The BoD funding it themselves is of course true, but I would honestly not believe they are writing checks from their own PRIVATE Bank Accounts, but from the residue of the business account, so effectively, they are funding it 'themselves' but they don't actually own the company, you guys do so who's funding it?!
I cannot see them digging into personal funds ALL this time to keep a dead company afloat. If there IS something going, there would be mention of it by now (16 Months). If you recall Bob's email to me, part of which says:
As for length of time of the “Restructuring Operation” that will be determined if and when an outside investor/and/or a joint venture agreement is concluded.
Otherwise, the monthly management contributions which is a slow but steady procedure is the only existing alternative.
"If and when, AND.... "as the Only Existing alternative"... Only Existing, which means there is still nothing after all this time. It's admitted by Bob himself, so essentially, they are no further forward and the money is dwindling because there's no input.
Unlikely to be that much longer, but the day to day running is likely to be a meagre amount anyway. It just sounds good! They can plod on for ages I expect, with just a few Dollars a day to pay the utility bills, Tea/Coffee and Milk, oh, and a packet of Biscuits!
BeWary: Good post :) The problems with these guys, it's always lots of talk and no action. They've been sitting on Fencemaker for years and nobody has come forward to have a go at it, at THEIR own cost. If the 'Stuff' was there and they felt sure that there could be something in it, they could have had a free hand and whatever that is deemed worth while, pay FLPC an on going Royalty per Tonne.
There is NO chance of FLPC dealing with the Mine on their own as they would have to call contractors in and that would cost too much, so it sits dormant and is likely to remain so. It's quite possible that some 'on the side assaying' has been done because they aren't just going to sit on a Duff Pit without knowing what's inside. At a guess, it was a waste of time and money and I expect word has got around to the fact that it is just a hole in the ground that nobody is interested in as it's only a talking/ramping point and little all else.
If WHITEDOG is saying go very long on this one, you may find that very long is likely to be very short. As BeWary suggests, and I too have said that not enough people are putting pressure on the BoD to spill a few Beans and tell them to spell out how it is. If they answer, it will still be a revamp of all the other e-mail's that denotes no progress and ambiguity. The BoD won't say a word other than what they want you to hear and whether what they say is to be believed is questionable. It's happened before and they did nothing, (it's all on the net).
They have been searching for partners and lender's, but nobody wants to know and with all this debt, they have most probably run out of options? They have no collateral back-up so they will have to rely on outside sources to start any digging and hand over the Mine to someone who has enough cash to take the risk but will they? Unlikely as it would have happened by now.
I expect the usual claim of 'Slander & Innuendo' post to follow!!
Done all mine so I have no issue. It's just down to those who haven't quite grasped the magnitude of the problem. Due diligence/ Research has been done which is why the volumes are still unsurprisingly, very low to Zero.
Whitedog: Good post, although Bob never seems to share any info with anyone who writes in with fresh info. especially when asked "how things are going"? There was a time in the early days when I seriously considered taking a modest punt here, but the more I waited, the more grim it started to look with no satisfactory push forward to even slightly justify the huge risk.
The liquid Battery should be a good talking point from the BoD to try to encourage Investment. As this appears to be the main area they are interested in, there's really little or no progress on this front at all, otherwise we'd hear more details... especially in the last 17 months!
I have been in contact with Bob on and off for about a year and if anything of interest comes through (which is not often), I place it on this Forum. He's not mentioned anything at all except "Progressing forward", and "management still 'privately' funding the show".
Whilst I couldn't see the Link you said you placed here, I have found a similar one:
http://www.nature.com/nature/journal/v514/n7522/full/nature13700.html
All FLCP has to do is find the funding....lot's of it, enough to progress to the stage of Production and sales. It WILL cost Millions! If they ever progressed this far, it will be a Miracle, but the possibility of step-by-step Funding, isn't out of the question. In other words, POSITIVE steps to attract funds based on performance. The better it looks to the Funder, the more they may be prepared to put into the business. That's if anyone is prepared to take the risk!! If it looks bleak, it will cease, if not, it will carry on. FLPC needs to prove they are committed 100% to work with a partner on this basis, if not,it's unlikely they will continue in their present form.
(I have notice that poster's on some Forum's have not yet worked out the difference between the legal meanings of certain words and when to use them. There's an Online Dictionary available which I use to ensure some of the words are placed in the correct context. Using the wrong words in the wrong sense can make one look quite ignorant!)
Whitedog: "Bob has ideas how to take advantage of a whole new industry of uses world wide."
How do you know? So far, none of the Shareholder's no nothing about any ideas as it hasn't been mentioned until now. The thing is, Antimony is where the big money is for FLPC, the other issue is, if there's so much down there, how come nobody else has come forward in the last 5 years to Mine it?
As mentioned the other day, tests showed less than 5% within the tested samples (ref. Bob R.)and he said at the time that is wasn't economical to proceed until such a time it became viable for the company to do so. His words (irrespective who disagrees!)
It is very difficult to know exactly what's going on within FLPC and Bob shows no signs of excitement or encouragement to current or future shareholder's, as there has been no decent news in 16 months. This means that the chances of nothing much happening is better than something.
Don't forget, he has no funding or sponsers at this time and he said "Quote: funding of the company is by The management as it "is the only existing alternative". Something IS probably going on but nobody know's what, but the Management are keeping tight shut, so it's whether a good thing or bad. Make of it what you will. CE.