FTL

About FTL

Firetail Resources (FTL) is a battery minerals company with an exciting project portfolio with exposure to multiple battery mineral commodities at its well-located Western Australian and Queensland projects. The projects range from early exploration stage at the Paterson and Yalgoo-Dalgaranga Projects through to advanced exploration-early resource stage at the Mt Slopeaway Project.

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What does Firetail Resources Limited do?

The batteries all around us aren't made out of thin air. Firetail Resources is a Perth-based explorer of battery minerals: copper, gold, lithium, manganese, rubidium, nickel and cobalt.

The company is currently running four exploration projects in Western Australia and central Queensland. The company holds a 100% interest in each of the projects:

• Paterson Cu-Au Project — Located in Paterson Province, Western Australia, this project targets porphyry copper-gold (Cu-Au) molybdenum across five granted tenements covering approximately 1,660 square kilometers. The project has six granted exploration licenses and one exploration license application.

• Yalgoo & Dalgaranga Li Projects — Two projects located in the Murchison region of Western Australia, covering more than 1,850 square kilometers. The primary target is Lithium (Li) but Rubidium (Rb) is also present. These projects consist of nineteen granted exploration licenses, five exploration license applications, three granted mining leases, one mining lease application, and nine granted prospecting licenses.

• Mt Slopeaway Ni-Co-Mn Project — Located in central Queensland, the Mt Slopeaway Project targets Nickel (Ni), Cobalt (Co) and Manganese (Mn).

Find out more: Top lithium stocks on ASX [2022]

Does Firetail Resources belong to Firefly Resources?

No, not anymore. Firetail Resources was incorporated on 16 June 2021 as a subsidiary of Firefly Resources. In October 2021, Firefly shareholders approved the separation of Firetail Resources by demerger.

To further bolster its independence from Firefly Resources, Firetail Resources acquired 100% of Super Cruser Pty Ltd in December 2021.

Is Firetail Resources a profitable company?

No, it is not. In its FY2022 interim report the company stated:

“The Company incurred a loss for the year of $52,483 and nil cash inflows. As at 31 December 2021, the Company has a working capital deficit of $422,937.”

Firetail Resources went public on 13 April 2022. As a result, the company’s financial data is limited at this time.

Is FTL stock a buy?

Some investors seem to think so. FTL stock price went public on 13 April 2022 at A$0.25 per share. By the end of trade, the FTL share price had shot up to A$0.365, an astronomical 46% gain in one day.

However, other investors are staying bearish. The company only has losses and a negative cash position to report. There is also a high likelihood the company will need to raise more capital from equity markets, in turn diluting the stock in the future.

From the FY2022 interim report:

“The ability of the Company to continue as a going concern is principally dependent upon the ability of the Company to secure funds by raising capital from equity markets and managing cash flow in line with available funds.”

Does FTL stock pay dividends?

No, FTL stock does not pay dividends at this time.

Who owns FTL stock?

Some of FTL stock’s largest owners include Hong Kong Jayson Mining Company (10.39%), Gascoyne Resources (8.36%), Paul Byrne (7.79%), Sparta AG (2.66%) Non-Executive Director Simon Lawson (2.39%), Robert Jewson (2.3%) Non-Executive Director Stephen Brockhurst (0.52%) and Non-Executive Director Frank Bierlein (0.052%).

The general public owns the most FTL stock holding 65.5% of the total float.

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