UK 21:16 Saturday, 7 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Earlier today I broke the news that Finnaust (FAM) was trying to get a £7 million placing away at 7p HERE. The company has now fessed up that a placing is underway but it says that it is only trying to raise £5 million. I guess that the roadshow is not going so well then. Maybe broker SP Angel should have put out a 68 page ramptastic buy note ahead of passing round the begging bowl not just a 34 page one?
A City source tells me that broker SP Angel is right now endeavouring to raise £7 million for Greenland mining outfit Finnaust (FAM) at 7p per share. At a current 8p to 8.75p the company is valued at £40 million on AIM.
FinnAust (FAM) has been one of the soaraway success stories of the AIM casino in 2016 but the market cap is now c£50 million. Is that a tad ahead of events? Align Research normally pens bullish note on stocks where it has a, fully declared stake, and where it is compensated by the company. I doubt FinnAust paid for this note which is very bearish indeed.
Transformed Nordic exploration minnow FinnAust Mining (FAM) is trumpeting prospects at the Pituffik titanium project in Greenland, acquired when the AIM-quoted company bought 60% of Bluejay Mining before Christmas. FinnAust, where Australian nickel producer Western Areas holds 60%, says work completed last year by Bluejay shows raised beaches along more than 20 km. of coastline hosting ilmenite, a key feedstock in the production of titanium, over widths of more than one kilometre, while samples taken from tidal beaches achieved 70% ilmenite by weight.
A recovery in copper and nickel prices could find AIM-quoted FinnAust Mining (FAM) well placed, as the tightly-held company studies data recently gleaned from its Outokumpu and Hammaslahti projects in Finland. FinnAust, which was floated on AIM two years ago by Aussie-quoted nickel miner Western Areas and is believed by analysts to have held informal talks with a major regional mining concern, hopes to have geophysical survey results identifying possible drilling targets from Outokumpu by the end of August.
Polymetallic Nordic explorer FinnAust Mining (FAM) ‘has got a tiger by the tail’ following its latest discoveries of copper, zinc, lead and gold at Hammaslahti in southern Finland and will now hammer out a new drilling programme with its 68 per-cent shareholder, Aussie-listed Western Areas, before ‘scoping the project’ in the New Year and moving to establish an inferred resource. That is the message from Alastair Clayton, chief executive officer of AIM-quoted FinnAust, in the wake of assay results from Hammaslahti’s southernmost zone.
Nordic nickel, copper and zinc explorer FinnAust Mining (FAM) wants to secure a second drilling rig to accelerate its exploration programme in Finland, where it is probing three historically-mined high--grade deposits in which it has controlling stakes. This is in the wake of finding encouraging mineralisation at one of its project, Hammaslahti, in the south of the country. London-based FinnAust, whose losses rose from £401,000 to £2.4 million in the year to June following a £1.2 million asset impairment charge for past unsuccessful drilling and £1.2 million of administrative expenses, ended its financial year with £1.5 million cash and can fund its exploration programme, says executive director Alastair Clayton.
The meteoric rise of Australian nickel play Western Areas, and its 136 per cent share price rise over the past year, must have raised the hopes of shareholders in FinnAust Mining (FAM). The company was spawned from Western Areas and floated on AIM last December. As it waits for latest drilling and assay results from the Hammaslahti copper project in the south-east Finland, speculation could well follow of a repeats of the Western Areas success story.
