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@Brandon July is when drilling should start, we'll not have results until August
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@Brandon I'll get some more info on turnaround times for labs, but I know in busy summers it can be pretty bad (6 weeks or worse). Hopefully that's not what we see this summer.
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@fl Labs are backed up in Ontario & Quebec right now, hope you fare better out west.
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@engineer LME zinc stocks June 14 -2,475t to 317,975t from 320,450 June 13. Day 20 of consecutive Zn inventory drops. $tk $vtt $fwz.
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@Newton LOL "puking" may be a strong word here @AldenTyrell
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@Newton Love the stats @engineer got any charts or other context for us? Stock/use ratio, maybe? Have the TC-RCs come and gone for 2017?
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@nobshere Geezzz got screwed again $FWZ ?? was the IPO overpriced? and what is happening with $ADZ --man oh man Someone better get a big hit in Valley of Gold or soup kitchen here I come .. @Stocklor u have a spare bedroom
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@Newton lol @nobshere. maybe better if you just didn't check market prices.
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@bslusarchuk as to the comment about the IPO on $FWZ being over priced - I don't quite understand. The shares are up approximately 70% from the IPO price in a very short period of time (IPO was at $0.50), which is quite nice performance out of the gate. Strong price performance that runs contrary to the thesis that the IPO was over priced. Very low volume (so obviously not many sellers around) and a good underlying project with good management. If you put up capital on the IPO and in hindsight believe it was overpriced and want to exit - sell now with a 70% profit. If you believe the valuation is still inexpensive (easy to argue it is still very inexpensive in my opinion), you patiently purchase stock. It has traded very low volume since the IPO which indicates perhaps not a lot of sellers around but any sellers should be happy (as it has been a big win from IPO) while buyers should be happy (being able to buy shares in what looks like a very well placed IPO with few sellers).
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@internalaudit And nothing like what South America announced about favoring the Blacks and requiring them to majority owners of mining companies to get new permits.
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@internalaudit At least we are in one of the friendliest business jurisdictions to Canadians. :)
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@engineer LME zinc stocks June 15 -1,800t to 316,175t from 317,975 June 14. Day 21 of consecutive Zn inventory drops. $tk $vtt $fwz.
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@internalaudit Didn't know people were shorting the stock: http://shortdata.ca/?c=fireweed-zinc%20ltd.-short-sales&sym=FWZ.V
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@engineer LME zinc stocks June 16 -2,125t to 314,050t from 316,175t June 15. Day 22 of consecutive Zn inventory drops. $tk $vtt $fwz
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from #vtt,
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@engineer LME zinc stocks June 19 -2,125t to 311,925t from 314,050t June 16. Day 23 of consecutive Zn inventory drops. $tk $vtt $fwz
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from #tk,
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@tcu So much for liquidity haha. Let's get some news flows going and see if that helps
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@Newton Is that Kerrisdale Capital on the short side?
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@Newton See you on the bid @tcu!
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@bmonaghan Put together a list of active #Yukon players. Any others to add? $APX Apex Resources Inc. $ATC ATAC Resources Ltd. $AXR ALEXCO RESOURCE CORP $BVQ Bravura Ventures Corp. $BYN Banyan Gold Corp. $CMB CMC Metals Ltd. $COL Copper North Mining Corp. $CRB Cariboo Rose Resources Ltd. $CS CAPSTONE MINING CORP. $CSL Comstock Metals Ltd. $EUK Eureka Resources, Inc. $FWZ Fireweed Zinc Ltd. $GPY Golden Predator Mining Corp. $GSR Goldstrike Resources Ltd. $IGO Independence Gold Corp. $KG Klondike Gold Corp. $KGC Kestrel Gold Inc. $KTO K2 Gold Corporation. $MMG Metallic Minerals Corp. $PEX Pacific Ridge Exploration Ltd. $RAK Rackla Metals Inc. $RK Rockhaven Resources Ltd. $SKP Strikepoint Gold Inc. $SMD Strategic Metals Ltd. $SNG Silver Range Resources Ltd. $SRC Stakeholder Gold Corp. $TAK Taku Gold Corp. $TG Trifecta Gold Ltd. $TIG Triumph Gold Corp. $VIT Victoria Gold Corp. $WG WELLGREEN PLATINUM LTD. $WGO White Gold Corp. $WRN WESTERN COPPER AND GOLD CORPORATION. $ZON Zonte Metals Inc.
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@RocketRed $FWZ 1,469,823 shares since ipo started trading are we now cleaned up and ready to roll out?
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@engineer LME zinc stocks June 20 -5,350t to 306,575t from 311,925t June 19. Day 24 of consecutive Zn inventory drops. $tk $vtt $fwz #zinc.
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from #tk,
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@engineer Strong rebound in base metal prices today Zn +$0.03 +2.6%. Cu +1.4%. Pb +1.5%. Maybe those inventory numbers finally having an impact with inventory declines accelerating over the past week. #TK #VTT #FWZ #ZINC.
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@HighROI Those 2 50k Haywood bids look phoney to me. They keep getting moved down when price goes down. Enough out of reach to look like support but whoever is placing them is not looking to get filled.
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@EvenPrime I noticed that myself. The amount went up today though i think
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@HighROI There was a 50k bid at .75 the other day. I am assuming it is same bid now at .71. Just something to keep an eye on.
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@internalaudit Hopefully the small short position is not naked because with little liquidity, shorts can have the upperhand in driving the price down. . http://www.iiroc.ca/Documents/2012/7026f168-80c3-45ea-a635-55b8802dbbaf_en.pdf IIROC has taken steps to enhance its monitoring of short sales and failed trades. In particular:  Effective June 1, 2011, IIROC has implemented a web-based system for the reporting of “Extended Failed Trades”, defined as trades which the client has failed to resolve within 10 business days following the regular settlement date, that helps to identify “problem” fails and allow IIROC to assess the reasons for the failure and monitor the steps being taken to resolve the problem. It seems market makers are still allowed to short naked though. Anyone know if FWZ has a market maker?  As part of the Amendments which become effective on September 1, 2012, purchase and sale orders from arbitrage accounts, accounts of persons with Marketplace Trading Obligations and certain accounts that adopt a “directionally neutral” strategy in the trading of securities would carry a “short-marking exempt order” designation. The use of this order designation will permit the data on “short sales” to better reflect the activities of persons who may have adopted a “directional” trading strategy.
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@engineer LME zinc stocks June 21 -1,600t to 304,975t from 306,575t June 20. Day 25 of consecutive Zn inventory drops. $tk $vtt $fwz #zinc.
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@EvenPrime REPOSTING JUNE 9th when @Engineer started his consecutive Zn inventory drops LME zinc stocks June 9 -1,650t to 324,325t from 325,975t June 8. Day 17 of consecutive Zn inventory drops. $tk $vtt $fwz #zinc ~zinc
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from @engineer,
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@EvenPrime @engineer I like that u are updating this stuff: Just a quick recap: So June 9th Zinc = 325,975t and now June 21 we sit at 306,575t $tk $vtt $fwz #zinc ~zinc
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@internalaudit Hopefully zinc price touches this year's high before Brandon comes out with preliminary (or whatchamacallit) drilling results in August. :)
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@EvenPrime I know of about 150,000 shares that are hoping to sneak in around the 60s and are just waiting. I think when this thing starts to run, those shares and all the other people will be left behind and try to jump in. Its the risk u take, and nothing wrong with being cheap and waiting ... but I think they may regret it as summer starts, especially if zinc price increases over next few weeks. Just a thought. Nothing wrong with having a small position now, and adding as it goes up or down :)
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@internalaudit I should have waited until July/August but at least I'm only down 7-13% instead of more. :) Like what most of you said, at this level there is so much more upside than downside but it will very well depend on management's expertise.
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@lukejackson Just want to see some work done and it'll happen - low hanging fruit drilling could ignite market attention - we know they have size and grade. Not concerned about FWZ, personally.
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@internalaudit Is this how initial private placements/capital layout is done at most companies? I know with tech stocks, it's mostly true but does it also apply to mining companies? History Since Incorporation Effective October 20, 2015, we issued a total of 3,200,000 Shares for nominal consideration ($0.00025 per Share) to two founders (Richard Hajdukiewicz and George Gorzynski). Negotiations then began with Hudbay for the purchase or option of the Project. In the latter half of 2016, we engaged each of John Robins and Brandon Macdonald to become officers and directors of the Issuer. On September 20, 2016, 1,200,000 Shares originally issued October 20, 2015 were surrendered by George Gorzynski and Richard Hajdukiewicz for cancellation to the Company. During the months of October 2016 to February 2017 we completed the following private placements:  2,000,000 Shares at $0.01 per Share, as to 500,000 Shares to each of the four directors;  500,000 Shares at $0.06 per Share, as to 100,000 Shares to each of the four directors and another investor;  3,100,000 Shares at $0.10 per Share, as to 100,000 Shares to each of Richard Hajdukiewicz and George Gorzynski; 1,100,000 Shares to John Robins; 600,000 Shares to Brandon Macdonald; and 1,200,000 Shares to other investors; and  1,820,000 Shares at $0.25 per Share, as to 260,000 Shares among the four directors, and 1,560,000 Shares to other investors. On December 14, 2016 we executed the Property Option Agreement with Hudbay.
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@internalaudit I guess they got shareholders were they are through their toil, sweat and reserach and so far it's been good for IPO subscribers. It looks like founders did infuse significant personal wealth but of course the bulk of the cash came from the IPO. I have not never really purchased anything pre or post IPO so just wanted to learn a thing or two about IPO/fund raising.
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@internalaudit mean right after IPO :)
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@Brandon @internalaudit: I'm happy to answer questions about the share structure, did you have any specific ones?
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@internalaudit @Brandon I just wanted some idea if most mining companies ownership structures are similar to FWZ where common shares are distributed at token value pre IPO. Nothing against it since it has been made public and as you said, your team settled 50 cents to give new investors a significant upside opportunity if they hold medium to longer term. Also noticed so many mining companies just keep diluting shareholders when they need funds but the good thing in your case is that you bought into a property of interest that in the past had been proven to have so and so reserves.
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@Brandon @internalaudit: Generally speaking new companies will set aside founder's shares for the founders (below 5c), and then do one or more seed rounds before going to IPO (or RTO or CPC). Founder's shares are the most restricted after trading, ours being escrowed over a period of 3 years. These founder's shares are the reward for securing the property and putting in the sweat equity. They are priced to reflect the fact that management cannot sell either because of escrow or because of optics.
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@internalaudit Thanks @Brandon The question was just to enrich my understanding since I haven't looked at other mining companies at a similar stage like yours. I didn't want to bother looking at other prospectuses since I know your team is quite transparent and open to retailer investors.
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@Brandon I'd note that the amount of founders' shares is generally capped by the exchange as a certain percent of the post-IPO outstanding. The upside of this is that it keeps things from being ridiculous, but the downside is that everyone generally as a rule works to hit that limit. I don't think such a limit makes sense as a hard rule for listing. I think that as long as disclosure is clear about who got how many shares at what price, it should be up to investors to decide if that is fair or not.
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@HRA-Coffin Whenever a company IPOs there is an argument about pricing. Management often wants to maximize the price and, in fact, gets hammered if there is too much of a post=IPO lift because existing shareholders think they could have gotten a better deal. Smart management realizes you have to leave something on the table when you list and give buyers a chance for good gains. You can prices thing to extract the maximum valuation from the market but, if you do you will run into two obvious problems. One is that the IPO will be very hard to sell. The other is that it will be even harder for buyers of the IPO or seed rounds to find anyone to sell to. Why buy a deal if its fully valued the day it goes public? I think $FWZ management chose a good level that got them fairly non-dilutive money through the IPO but still left plenty of the table for those buying in the market. I'm sure @Brandon and the lads had some "interesting" discussions among themselves and with the listing broker about pricing.
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@engineer LME zinc stocks June 22 -975t to 304,000t from 304,975t June 21. Day 26 of consecutive Zn inventory drops. $tk $vtt $fwz #zinc.
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@nobshere @Brandon $FWZ Where is the website You people sleeping ?? Piter pater lets get at er
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from #index,
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@Andrew @nobshere Here is the website for $FWZ . Perhaps #feedback will have the website added to the Fireweed Channel as I believe this is what you were hoping to see. http://www.fireweedzinc.com
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@Newton Website looks good imo http://cdn.ceo.ca/1ckqj1l-Screenshot%20%281916%29.png+ Short and sweet.
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@nobshere @Andrew $FWZ LOL nothing on it Brandon said coming next week
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@internalaudit Brave soul putting in an order of 500 shares at 85 cents to keep the stock price flat. :)
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@engineer LME zinc stocks June 24 -2,100t to 301,900t from 304,000t June 23. Day 27 of consecutive Zn inventory drops. $tk $vtt $fwz #zinc.
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@Newton What a big dog behind that order, eh @internalaudit?
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