Earlier this year I posted on a 'sucker stock' that has since bagged. It took several months but I liked the management and the story. It's now reclassified as a momentum stock by stockopedia - hardly much better - but it's an improvement I guess. It seems to be getting its act together. A few on this board probably thought it was a waste of time posting such a stock. Fine. TLOU was its name.

The next 'sucker stock' on my radar is Ferrum Crescent. It's been on its butt for quite a while, some would say almost dead. And yet recently it has changed its strategy and sold off its Iron Ore interests in South Africa and is now concentrating on its Zinc assets in Spain. Of particular interest is its Toral asset in Nothern Spain which has exchanged hands several times over the years. There has been much drilling in the past, and now some additional drilling by FCR which is being assessed and which is leading the company to target a maiden JORC 2012 by year end. A good move IMO as it will give the company several options based on a realistic assessment of its asset.  A useful video to watch can be found by searching on youtube! 

The company's CEO recently left, and a new Executive Director came on board called Myles Campion - very experienced and well connected IMO. I cannot see him coming on board just for the fun of it. There is no replacement CEO at this time and the exec are running the show. Prudent IMO.

This was followed by a placing in which Colin Bird (Galileo resources, Jupiter Platinum, Xtract Resources etc and has also sold on a company or two to make a large £ in the past) took 12% of the company with options to take another 6%. Bargain basement prices but the company gets a hard hitter as a shareholder, and one unlikely to sell his interests any time soon and unlikely to be making a short term punt  IMO.

Two of Mr Bird's companies have recently formed JV's with the same Zinc Extraction Co. And now he has bought into a company with a potentially very large Zinc asset. Strategic thinking?

The market cap is just over £2m and I like to think of companies like…

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