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I'm sure a PR stating that they are changing their plans and will be focusing on exploring their lithium properties would go over real well. Is that feasible given the current state of the company? Shame on them for not planning their entire company around what Tesla may or may not do.
Let them execute their current plans. This is still a lithium play in the long run, so the Tesla news adds value.
I don't want to give the wrong impression. The connection there is purely my speculation based on conversations with Jimmy. He's never directly mentioned lithium prior to commenting on Tesla today, which I provoked.
In a separate email, I asked jimmy to comment in Tesla.
"I will spare you the further frustration as at least three years ago I proposed a direct downstream plant on the lithium property which would make lithium ore from the brine within one day instead of 3 years of drying on fields via the wind and sun and to build batteries for Tesla under contract."
I think that proposal has clearly been put on hold. The company is obviously not in a position to be exploring lithium at this point in time, but I will tell you that Jimmy has spoken I'm the past about having a 5, 10, and 20 year plan. It's good to know that this has been on his mind and I assume that lithium prevails in his longer term plans.
Here's a response from jimmy,
"I have issues too with the speed that some items move which do slow me down and I don't like to be too much off my timlines and tasks.
I know that I or anyone can't ask from any investor simply to "trust" and wait.
We need to be more informative and able to complete tasks that are promised or planned to be done.
I can't tell you more right now as I am extremely frustrated myself many times but there is progress and a lot that is being done which needs to go out to the investors."
I like a lot very solid days with low volume. It suggest to me that the market will quickly correct itself and that the ask will be thin as we head toward a new level.
The issue, though, is that another round of dilution can stifle all of these gains. But, make no mistake, if dilution ends, this puppy will see very steady growth.
All this on such low volume... Hmmmmm.
Ever get that feeling that the engines are being warmed up and the ship is about to take off?
A surge in volume could blow the top off this thing.
I seem to recall the next stage of exploration costing in excess of $500k.
Lithium for FLPC is at least 5 years down the road, IMO.
Geez brah, you bring that up a lot. Wonder why it wasn't in the 10q! Lol.
We're all frustrated, but the company is moving in the right direction now. I know youve lost a ton of money here, but I miss the old wrecklessly optimistic ST99.
Donwards!
Hear hear.
Good luck. They have 60% of the vote in their pocket.
Absolutely agree. They're making progress.
What is a dry demo?
You're telling me.
More news is coming, it's a matter of time. I'm personally expecting something later this week as a way to round out the end of the fiscal year.
Just today he told me "There is a lot going on so I hope that some of the events get to the news from this week."
I have a followup out to him, I'm expecting a response either tonight or tomorrow. I'm pretty frustrated and these frustrations have been made abundantly clear to him. We need clarity.
That kind of boggles me too, but I think we need more definitive information. Something to the effect of,
"the down payment has been made, the equipment has been ordered, and these are the financing terms. The equipment will arrive in 6 weeks and we anticipate another 6 weeks for construction."
Now that will put us on a path of three months worth of growth.
To maintain my % ownership of the company I would need to buy shares at a rate proportion to dilution.
We may be arguing different points, but I'm very capable of doing the required math. It's a matter of needing to invest more to maintain a certain level of ownership, with I'm prepared to do.
Despite the SS and the reaction to news, I see a company that is progressing.
T-Man,
I have no problem taking a shot. It's not going to bankrupt me.
Clarity and the path forward is coming.
I firmly believe that the ship has been righted and it's a matter of being patient. I believe they have the financing they need in order as they achieve the necessary milestones, but it takes time.
I believe the mill will be operational and revenues and consistent growth are only a matter of time. The issue for me right now is that my share value is being diluted at an alarming rate. Shareholder support is necessary to preserve our value.
I've secured some funds and will increase my position proportional to the amount of dilution I expect to see through the remainder of the year.
About 13.5M issued this week.
At this point, I'm sticking around and seeing how it all unfolds.
Obviously, nobody is happy at this point. Today was a lot of shares being brutally dumped by converters. We had 40M issued last week and I didn't really see much of that dumped last week. We'll see how this plays out the next few days.
I'd like to draw more attention to the fact that the news today specifically mentioned securing the necessary investment required for the down payment on the mill. I'd also like to remind everybody that the size of that down payment is consistent with the numbers in the 7/10/2013 PR about mill financing and the down payment is likely higher because the mill is to have a higher capacity than planned before. I think there is a lot of good information in that PR that can shed some light on where we might be heading. I don't think G8MI is investing $200K at almost 3 times the current PPS if that money isn't going directly to that down payment, IMO.
This is what they said las year...
"Subject to any final regulatory approvals, we expect the mill to be operational within three months of the equipment order."
What we need is a nice juicy PR about an equipment order.
Things are looking exactly like they did this exact time last year.
Thanks for the clarity... A man can hope, can't he?!
Does anybody have any thoughts on this?
In my opinion, Fencemaker and Arabia are longer term projects and there are cheaper ways to get ore in the region. "Mines abound" in Nevada is something that has been repeated to me.
The plan is to lease properties, go in and extract the ore, process it, sell it, pay a royalty, and then move on to the next mine.
The longer term plan would be to have multiple mines and mills going.
What they have said in one way or another is that the additional properties they've acquired represent value only in the long run, but they don't consider the properties necessarily news worthy because they don't have the money to develop them in the short term.
The short term plan seems to be leasing existing mines and paying royalties.
Comment from Jimmy a half hour ago...
"The news flow towards the new path, direction, events, are just about ready to start coming out so by Jan 1st FLPC will be far removed from the past and ready to grow and grow."
From Tom Dean, FYI...
"My delayed response is due to waiting for the release of news this morning, of which I am certain you are aware. Obviously, there has been substantial progress on the financing front, and while additional financing will be needed, this is a very good start.
Management is continuing to evaluate a number of options and solid progress, as evidenced by the recent acquisition of nearly all of Fenchmaker certainly offers encouragement.
Thanks and keep the faith.
Tom"
What I'm trying to figure out is if the increase in OS last week is related to this news.
The creation of the subsidiaries was something that has been in the works since before May, from what I'm told.
The result is that all the pieces of the company will now be controlled under one roof, which is supposed to lead to more efficiency and shorter time lines with respect to getting future operations up and running.
Jimmy told me this in an email on June 22nd,
" Let me say that via G8MI, FLPC got a global network, equipment suppliers, product buyers, strategic investors and credit but FLPC can't use them today as it is set up and I will not get them involved until the company is more stable."
I take the recent moves that have been made as significant steps toward stability.
Something tells me Murdock is more patient than you are.
Pitt, you'll be all about this stock once things start rolling. All the PRs and filings point in the direction of a company that had a plan and is in the process of executing on that plan.
Enjoy the ride.
Yea, I think about that too.
They're consolidating everything into FLPC. Either they're trying to dump their worthless assets onto us, or this consolidation was necessary for another reason.
We all have much to gain by FLPC succeeding, Don included.
I agree to an extent. Obviously, the increase ownership doesn't mean anything unless we have a mill.
I see this as a positive signal, though.
You ought to consider moving on.
Dilution in this respect is fine because it adds value to the company. When we get that mill, we've more than doubled the interest we have in it.
With all the filings and PRs we've seen over the last couple months, it's clear that they had things that needed to be fixed in order to make this company succeed.
It seems like a relatively cheap deal, at this PPS anyway. Won't be so cheap in 6 months.
This is good news and it will make us more attractive to potential financiers, IMO.
We basically just doubled our potential value.
That was the last PR. New one is dated 7/21.
Interesting news, didn't expect that.
So, this means when we get to profits, it will be all ours?
It's hard to know how many the convertible guys still have, but it seems like they should have quite a bit. It may be a long week, but hopefully we hold 0.004.
My condolences T-Man.
And welcome back...
Ugly. That explains the no news, IMO.
That's about $100k at 60% discount.