Last 1.30 GBp
Change Today +0.075 / 6.12%
Volume 870.0K
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As of 11:35 AM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

ferrex plc (FRX) Snapshot

Open
1.23 GBp
Previous Close
1.23 GBp
Day High
1.30 GBp
Day Low
1.23 GBp
52 Week High
12/2/13 - 2.68 GBp
52 Week Low
07/31/14 - 0.95 GBp
Market Cap
12.1M
Average Volume 10 Days
532.1K
EPS TTM
-0.0020 GBp
Shares Outstanding
933.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
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Current Stock Chart for FERREX PLC (FRX)

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ferrex plc (FRX) Details

Ferrex Plc explores, develops, and produces iron and manganese ores in Africa. It primarily holds interests in the Malelane iron project that covers an area of approximately 4,192 hectares, located in the Mpumalanga region in South Africa; the DSO Mebaga iron ore deposit, which covers an area of approximately 309 square kilometers located in Gabon, West Africa; and Nayega manganese project consisting of 5 exploration permits covering an area of approximately 92,390 hectares, and is located in northern Togo. Ferrex Plc was incorporated in 2010 and is based in London, the United Kingdom.

12 Employees
Last Reported Date: 03/6/14
Founded in 2010

ferrex plc (FRX) Top Compensated Officers

Managing Director and Director
Total Annual Compensation: 125.0K GBP
Finance Director and Director
Total Annual Compensation: 75.0K GBP
Compensation as of Fiscal Year 2013.

ferrex plc (FRX) Key Developments

Ferrex Plc Announces Unaudited Consolidated Earnings Results for the Six Months Ended March 31, 2014

Ferrex Plc announced unaudited consolidated earnings results for the six months ended March 31, 2014. For the period, the company reported loss from operating activities was £745,000 against £783,000 a year ago. Loss before taxation was £745,000 against £783,000 a year ago. Loss attributable to owners of the company was £707,000 against £747,000 a year ago. Diluted loss per share was 0.085 pence against 0.116 pence a year ago. Net cash used in operating activities was £1,224,000 against £769,000 a year ago. Payments for property, plant and equipment was £6,000 against £62,000 a year ago.

Ferrex Plc Provides an Update on its Exploration Activities at its 309 Sq Km Mebaga DSO Grade Iron Ore Project

Ferrex Plc provided an update on its exploration activities at its 309 sq km Mebaga DSO grade Iron Ore Project ('Mebaga' or 'the Project'), located in an extensive iron ore rich province in northern Gabon, Africa. Completion of geological mapping designed to evaluate the entire 19km strike length of banded iron formation ('BIF'). Mapping programme identified high grade iron ore mineralisation in the eastern half of the licence, 7km east of the area drilled by Ferrex in 2013 and 3km east of the easternmost BRGM historical pit P72. Rock chips taken and submitted for assay. Information from mapping will be used to design a further drill programme to be undertaken in mid-2014:Thickest interval of +55% Fe mineralisation encountered to date - 2013 drill programme results included 28.7m @ 61.4% Fe from surface in NGDH008. Significant exploration potential identified in work to date - Exploration Target estimated over only 11km of 19km BIF strike totals 630 to 1,050Mt @ 25 - 65% Fe, including 90 to 150Mt @ 35 - 65% Fe (oxide). Gabon Ministry of Mines approval received for proposed Anglo/Kumba transaction. The geological mapping programme at Mebaga is now complete, and it has evaluated the full extent of prospective magnetic highs attributable to BIF.  A total of 13 rock samples were collected during the programme; these samples have been submitted to the Set Point facility in Libreville for preparation prior to assay in Johannesburg. During the programme, additional high (DSO) grade iron ore mineralisation, as float blocks and in rare outcrops, was discovered about seven kilometers east of the area drilled by Ferrex last year.  Mineralisation comprises a combination of martite (hematite) and goethite, similar in appearance to the DSO grade blocks located above the drilled area during the mapping campaign in January last year.  Samples of blocks located above the drilled area returned Fe values ranging up to 67.51%; similar values are expected from the recently-collected samples.  Outcrop in this area is poor, so additional work will be required prior to drill testing of this newly identified occurrence.  Photographs of selected mineralised samples are shown in Plates 1-4. Mebaga is a DSO iron ore project located in the north of Gabon within an extensive iron ore province which extends from Gabon into the Republic of Congo ('ROC') and Cameroon. Iron ore mineralisation in the district is hosted in Archean Banded Iron Formation ('BIF') horizons belonging to the Belinga Supergroup.  Major deposits in the region include Belinga in Gabon (1Bt @ 60% Fe); Mbalam in Cameroon (775Mt @ 57% Fe) and Avima in the ROC (690Mt @ 58% Fe). Geological mapping and magnetic interpretation lead to the definition of high priority drill targets and an Exploration Target1 comprised of 90 to 150Mt @ 35 to 65% Fe oxide (weathered) material and 550 to 900Mt @ 25% to 40% Fe primary (fresh) material.  The oxide target includes DSO and bBSO material.  The target was defined over only 11km of BIF strike, with up to 19km of BIF strike identified in the project area, which points to significant upside exploration potential. A phase one drill programme, conducted over 800m of the identified 19km BIF strike at Mebaga, returned DSO and bBSO intercepts in all holes.  A total of nine diamond holes were drilled, including one hole solely to provide drill core for metallurgical test work.  The best intercept, in the final hole drilled, was 28.7m @ 61.4% Fe from surface.

Ferrex plc Reports Consolidated Earnings Results for the Year Ended September 30, 2013

Ferrex Plc reported consolidated earnings results for the year ended September 30, 2013. For the year, the company reported loss from operating activities of £1,674,000, loss before tax of £1,674,000, loss attributable to owners of the company was £1,555,000 or 0.213 pence per basic and diluted share against loss from operating activities of £1,500,000, loss before tax of £1,500,000, loss attributable to owners of the company was £1,428,000 or 0.251 pence per basic and diluted share a year ago. Net cash used in operating activities was £1,393,000 against £1,126,000 a year ago. Acquisition of property, plant and equipment was £88,000 against £27,000 a year ago. Exploration expenditure was £940,000 against £844,000 a year ago.

 

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