FSE 0.00% 0.5¢ firestone energy limited

major upgrades

  1. 61 Posts.
    News to start to flow as of next week both here and S/A with the listing on the JSE next friday 31st of OCT... I have been told that "major" backers have been waiting for sarb and JSE before they will committ to FSE.. (not sure if this is still the case with the current meltdown)

    I beleive the drilling done at the Vetleegte property will be released before the listing in SA later in the next week. Currently FSE has a inferred total of 508 million tonnes and hopefully the drilling will confirm at minimum the 508 million tonnes but i have been told it will be more than 700 m tonns. The rig i beleive is now set up at FSE's second property Ollieboomsfontain... I get the feeling that Ollieboomsfontain is also a large deposit aswell (when talking to smartt he said and quote "we wouldnt of obtained it unless we knew what value it added".

    Their has been allot of talk about a Managing Director coming on board but only after sarb and listing..... both have been acheived and with a window of 5 or so days before listing, you could assume the MD will be announced early next week.

    So if you g back to the FSE announcment dated 24/06/2008 COAL PROJECT UPDATE... you will see a list of five outcomes that they wished to meet to get the projects off the ground...

    A/Share holders approval. TICK

    B/DUE Diligence. TICK

    C/Appointment CEO and Board. two new board members have joined from seoko and CEO due in the next few days

    D/ Drilling at each property. TICK on one and the second just started

    E/ Website development. TICK
    F/ Sarb approval. TICK

    G/ JSE listing. TICK (31st of oct)

    FSE In my opinion has done everything they have said they would and while they keep ticking boxes i will keep buying....

    A great story is about to hapen here and dont be suprised to see the name eskom and forward contracts mentioned here in the near future
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