On February 14, 2022, Forum Energy Metals (FMC; FDCFF) CEO Rick Mazur and I sat down for a brief CEO BBQ, in which Rick answered the questions that shareholders wanted to see answered, and not the ones companies like answering.
For example, I asked him what he thought of the recent drop in the share price of Forum Energy Metals (FMC; FDCFF), what he thinks caused it, and whether he thinks the market is recognising the real value of this $30M uranium company.
Forum’s CEO told me that they had a major newsletter issue a sell order, which he thought was rather painful, as it caused the stock to fall over 70% late in 2021, even though, in his opinion, the work that was done on the company’s projects in 2021 had added a lot more value than the price at which the company was trading, even pre-drop.
Further on, we talked about Rick Mazur’s holding in the company, and he told me that he has invested his own money at an average per share price of $0.80 CAD/share, whereas the current price is around $0.20 CAD/share. Rick holds over 2.3 million shares of Forum Energy Metals.
We then continued talking about the company’s plans for the future, and I asked Mr. Mazur why Forum hasn’t yet started their promised drill program, that they said they will in start on in January 2022. Rick told me that the drills will start turning very soon.
00:00 Important note
01:15 Why did the stock fall 70%?
04:00 Did the newsletter really hurt Forum?
06:20 The fundamental reasons to sell Forum
10:00 CEO ownership of Forum Energy Metals
17:00 Does Forum Energy still have home-run potential?
18:00 Which other uranium companies does the CEO like?
19:50 Why not only focus on uranium?
28:45 Risk-reward on Forum vs other uranium juniors
33:00 3000m drill program underway?
36:00 Enough money to drill in 2022?
37:40 When is the next capital raise?
40:00 More marketing efforts? What? Why?
42:00 Staked new ground, what’s the plan?
46:05 Further plans for the future
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