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Update on SAL Future (buyout?)

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Salmon
Occasional Contributor
Hi. Does anyone have any updated info since the forum posts late last year? SALD is slowly drifting down - should be cheap for someone with the right background and appetite.
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12 REPLIES 12
SimonPB
Valued Contributor
didn't they loose their court case and are now essentially bust ??
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bangbul
Regular Contributor
They lost the case, but the money put aside in prev. fin year, so don't know about bust. There's a resource & reserve report pending. So that could give a better picture. Sallies ain't no running bussiness, so you should this as venture capital. You're buying or holding the possible future prospects of fluorspar.
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bangbul
Regular Contributor
Before making any decisions I suggest you read a bit; google fluorspar uses, fluorspar market, producers etc. & uranium enrichment & nuclear reactors.
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Aapstert
Occasional Contributor
Hey Bangbull, that is a lot of searching 2 do. If I can remember correctly you are a big SAL supporter. I on the other hand, also have some SAL shares, at a LOSS of course. What is your view on this share? Do u think we will see 30c a share in future will. As a long term investor I dont spend any money on this share trying 2 average down my cost value. Much appreciated.
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bangbul
Regular Contributor
Basics [rember OMO] Firebird , Quotes "Sallies will not be liquidated" "we will continue to support the company financially" we are excited about fluorspar. They got a number of fluorspar interests worldwide. Buffalo; "if research being done at it's waiste dams, it will be reopened. Fluorspar mines with same problems are being reopened in US, Canada, India & China. Witkop; "poor mining methods" Need new mining equipment, likely. IMO cash won't be a problem. more later sorry.
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bangbul
Regular Contributor
Economic down turn & the fact that the use of fluorspar for fridge gas &as flux is decining hurt the industry bad. Price dropped >50%. Demand & price recovering. Future demand pressure will come from the nuclear industry. Year ago i found stats; nuclear reactors in use 436, in construction 27, planned over 100. Last week on Ausie website, 439 in use, 51 in costruction & over 500 planned. US Gov. website; about 10 uranium enrichments plants will be built in next decade, including a probable 1 in SA. Uranium can only be enriched as uranium hexafluoride. Sallies are sitting on "a proven 24m tons" of fluorspar according to one report. Need to have patience though. Imo future prospects overshadow current risks, but risks there still are.
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Aapstert
Occasional Contributor
Thanx for sharing your view with me Bangbul, saw it made a new low today - 8c. Maybe I wil try and accumulate at these levels. With the more optimistic view, and patience, we might see 28c in the near future.
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barry_1
Super Contributor
and we might see the sun rise in the west in the future! Surely there so many better shares out there.
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Not applicable
Now I am wondering, if that were possible (sun rising in the west) would that mean the earths rotation gets reversed (maybe the US want to look into this). Now the even more bizaar thoughts...does the west become the east? Does time then reverse and we can undo our mistakes? Do we grow younger every day? Will dinosaurs be back in vogue in a few millenium? hehehe just a little fun to imagine it...
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and of course with such events hind sight will be perfect so we could short the heck out of the markets ;-)
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bangbul
Regular Contributor
Aapstert the only way there will be a price increase in the near future, is positive news on Buffalo's rare earth minerals project, then you might laugh at 28c, if not it's going to be a long wait.5-10 years.
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barry_1
Super Contributor
well the beginning of time is the end of time,actually the international date line has always intrigued my!why should a line drawn by some body thousands of miles away tell the people living there its the end or beginning of the next day?
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