I would describe our situation as a trophy asset as described by a financial writer.
Trophy assets describe the world's highest quality, most coveted hard assets.
We like investing in trophy assets for a couple reasons…
First, as investors, we know what we're buying. These companies have real hard assets… physical property… stuff you can touch.
Trophy asset companies own one-of-a-kind world-class assets, such as rare strategic metals, not just the more common gold, silver or copper ores, and once they are in a position to start production they almost never face liquidity problems because they can always get financing. Buying these trophy assets when you can get them at dirt-cheap prices is a core strategy for building wealth over the long term.
Yep, "the only antimony mine in America" can't be said enough.
Most mining companies have to spend millions just to see what their property contains and if it would be economical to mine what it contains. Then they have to spend 30 million to 100 million dollars to develop a mine. We know what we have, a very high grade ore of a highly sought after metal plus, since we are re-opening a previously operating mine, our mines infrastructure is in place and we are ready to start mining it as soon as we get the final approval. And we don't just have one property, we have other properties, which also contain highly sought after minerals. Eventually we will also be developing those properties, and possibly/probably acquiring more properties. Once we start getting a good cash flow the company can use it for upgrading our present property as well as using it for our other properties.
Just because we have increased our number of authorized shares does not mean that the company is going to vastly increase our number of outstanding shares. Generally a much greater number of shares are authorized than required, to give the company flexibility to issue more stock as needed. Authorized shares are usually used for raising money instead of borrowing money and incurring debt, although the downside is that it depresses the price of the stock. This can be a good or bad thing, depending on the quality of the companies management. If they put the money to good use, over the long run it will actually benefit the stock price. Authorized shares can also be used to acquire other companies, such as a company that has a property that would be a good fit for FLPC and which would rather be issued shares in a growing company instead of being paid cash for their property.
Our previous authorized number of shares was 540,000,000 and our outstanding number of shares was 475,419, 092, so we were almost at our limit and that didn't leave the company much flexibility. Increasing the number of authorized shares is not necessarily bad. In our case I think that we have a management that will put the shares to good use and that it gives them flexibility which is a good thing. Also management seems to believe in our company. In March three insiders bought a total of 5,882,568 shares. There has been no insider selling.
Another interesting thing is that our float is only 329,663,914 shares, which is 30% less than the number of our outstanding shares.
First off, what exactly is a "float"?
To understand what a float is, we first need to explain what "shares outstanding" mean. "Shares outstanding" are the total number of shares that a publicly traded company has.
The float represents the shares of the company that are "freely" tradable. Meaning, the shares other than those held by institutions or other owners and insider holdings.
Now why is the "float" important?
The smaller a float, the more volatile a stock can become. That means that if a company announces good news, such as the start of mining, the share price will go that much higher due to their being fewer shares available for trading, because If there are fewer shares available for trading, it means that shares are harder to buy and the price to buy shares will go up.
Our stock has previously traded at over ten cents a share. Of course at that time there were fewer shares outstanding, but once a company starts to finally open a mine on their property, their stock becomes much more highly valued, which would offset their being more shares in circulation than previously. So even with more shares outstanding I think that we will reach a price in the teens, and eventually go much higher, even higher than the .25 which has been frequently mentioned. And anyway, even at a price of .10 we will be up 1000%. With all our properties in production, and maybe even more acquired properties, we could surpass .25 per share. Buying in at under a penny a share, which most of us have done, is a steal. Of course some of the people that have been in this stock for years bought in at .45 or higher. Hopefully more were bought at lower prices, but even if not, our price could easily in the future go higher than that. This is one of those rare penny stocks that can be a fortune maker. If you hold on to it long enough. But you don't necessarily have to hold on to it. If the stock pops up in price you can either flip for joy or flip the stock and hope to buy back at a lower price. Your choice.
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