Q: FOM
Has good backing Prem Watsa. FFH Ontario Teachers. and FNV Where is property situated. How good is property. Is it in Flinn Flon area of MANITOBA
Is it a BUY ? RAK
Has good backing Prem Watsa. FFH Ontario Teachers. and FNV Where is property situated. How good is property. Is it in Flinn Flon area of MANITOBA
Is it a BUY ? RAK
5i Research Answer:
FOM's properties are in the Flin Flon Greenstone Belt, which is in both Manitoba and Sask. FFH owns 18%. It has $105M cash. As a developer, it has no revenue, losses and negative cash flow. It just raised another $200M. It has growing expansion potential, and we would consider it buyable for investors seeking a copper/zinc developer for the long term.