Hi Guys,
Let me state for the record that I have shares in Formation and this is not investment advise. Ha Ha
Seriously what and why are they looking to a French Bank for financing? I am surprised and shocked. Is there no US or Canadian bank. Especially Canada where we are very big in natural resource development & investing.
Also did the French not ask China for financial handout. Maybe Formation should take the same route and probably have better luck
Concerning Cobalt and let me add Maganese I have AMY.VN as well s it not risky because if there is a major slow down will these products not be in less demand. Maybe that is part of the reason: uncertainty. I have PPI.Vn as well and I sometimes worry about a slowdown affecting potash as well but to a lesser extent because demand for food will be constant or increase more than likely.
What does all this mean for Formation and how serious is this an issue? What about Sandstorm Metals they operate like SLW but with other metals?
Concerning PPI.Vn what do the results today mean Al. I am not an analyst. PPI.VN went down today probably because of the news. Can you comment
Also Al about AUN.Vn am I wrong to believe this stock is extremely extremely undervalued. Are they not going to produce approx 5 million oz of silver next year. Are there not other Silver Companies that produce less and are trading considerably above $2. Why? Are people worried about there cost of production or other issues?
Thank you Lord Bless Joe

I tripled my modest stake at .51 and am ready to triple it again if it goes lower. The news is not a reflection of this project’s merit.

Al, I really appreciate hearing Rick’s direct response. I haven’t met any of FCO’s folks as you, but they do seem to be very open with communication. Thanks for doing the same with Yale Simpson at 9:30pm. We don’t deserve this kind of service (but we’ll take it).

Joe, I’m guessing Formation went with BNP because the latter is quite aggressive in loaning money for capital projects around the world. I wouldn’t be surprised if Formation had 5 or 6 lenders on their rolodex at first, and BNP just happened to ‘win’ the deal. Personally, it’s BNP’s loss.

Formation’s roadmap was for high-pure cobalt production to begin in Q2 2012. To produce HPC anytime in 2012, they would likely need to arrange financing within 4 months. I doubt it will take anywhere near that long to find another lender. For that matter, they could also obtain more $$ with another private placement should the board wish to go that route (though I’d rather not see it done in a way that dilutes shares). I wouldn’t be surprised if they have their money before the end of November (no pressure there, Mari-Ann…!)