09/11/2004

Intention to float on the Alternative Investment Market (AIM) and appointment of new directors

Falkland Gold and Minerals Limited ("FGML"), an exploration company, announces that it intends to implement a placing and offer for subscription to raise up to 8m and to apply for the admission of its shares to trading on AIM.

FGML was incorporated in February 2004 and has begun an exploration programme for gold and other minerals in the Falkland Islands.
FGML holds the only licence to explore for gold and minerals, giving it exclusive exploration rights to substantially all of the onshore land mass of the Falkland Islands, covering approximately 12,000 km2.
The licence, currently valid to January 2007, will be extended by the Falkland Islands Government to July 2009 on admission to AIM.

The money raised will be used to undertake further stages of its exploration programme.


If its anything like FOGL it will be very oversubscribed

I do feel a bit like Shane Warne - nearly the last man in and 270 runs to make.

Should have followed my own analysis from February above, but NOT discounted my luck with timing.

The last few days dive for the floor seems to have come out of nowhere - classic tree-shake before the end of year trading update next month. WTFDIK!

Gonna see if they lift a bit over the next few weeks and then cut my losses come what may - luckily never got too much stock on the IPO.

sd

up 61% today on no news and no massive volume ???????

Having talked to a couple of the Aussie geolgists that are doing the prospecting for FGML only a month ago,I think this stock is dead in the water. They are saying no chance and FGML have nearly compleated their work plan and are going to review whether it is worth continuing in the Falklands.
Why the share price has seen a big rise rise this week is anyones guess but not I think based on prospective good news reguards gold finds. SELL QUICK before they fold!