SF1 3.45% 2.8¢ stemify limited

looks promising - anyone else following this one?

  1. 15,859 Posts.
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    I was alerted to FCN's potential only recently (which is somewhat belated given their 200% rise already). I've done some research and they look quite interesting. They hold 30% with WMR earning 70% in the block to the south of WMR's recent nickel, copper and PGE find at Collurabie north of Mt Keith WA. The interpreted strike is 7km in WMR's northern block and extends 9 kms into FCN's block. Drilling in FCN's block started 17 July and buying peaked 30 July- 6 August, with high volume again in following weeks. So far there has been no announcement on the drill results but obviuosly either insiders (or punters following any nickel stock) have driven up the sp.

    The potential seems large due to the extent of the strike zone although there are no details available of what WMR found in their blocks. There is a WMR nickel operation at Mt Keith, so any discovery could be linked into the processing chain. FCN also has 20% interest in the blocks to the south again (Newmont 80%) which also contain an extension of the same interpreted ultramafic. I like FCN's JVs with these 2 majors, in particular WMR - reminds me of HDR when it first attracted some interest in 1999-2000 with the WPL/AGIP JV.

    This could take off if results are very good (with Nickel the flavour of the month), or it could fizzle if there's a disappointing report - so its a gamble. Its hard to value it in any scientific way at present but with only 100m shares and a $14m capitalisation there is significant upside on any sort of minable resource.

    Has anyone else been following FCN? What's the rumours out there that are driving its sp???

    Cheers

    H
 
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