# NIA - Niagara Mining



## German-Stockpicker (7 July 2006)

Hi Guys,

I ´m a german stockinvestor. I ´m new here in the forum and would like to tell you something about the Australian-Stocks who are heavy traded in Germany.

The last three days NIAGARA MINING (NIA) is traded on a very high volume in Frankfurt after a buy recommentation in one of the famous stock-journals. And there are rumors, that the stock will be recommended in the near future very aggressive again. 

Today we traded round about 1.750.000 shares. Yesterday over 2 million stocks. 

So on, 

happy trading and sorry about my english!!  

German-Stockpicker


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## German-Stockpicker (7 July 2006)

up again!!!

in one hour the following volume:

09:58:55   0,207   25.000  
 09:49:45   0,207   20.000  
 09:34:01   0,207   30.000  
 09:33:02   0,206   50.000  
 09:13:08   0,205   30.000  
 09:11:29   0,204   60.000  
 09:10:21   0,203   70.000  
 09:09:50   0,202   50.000  
 09:09:24   0,201   50.000  
 09:01:59   0,200   10.000


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## pharaoh (18 July 2006)

Hi GP

You still in, or anyone else. 
Think today could be the day

good volume yesterday, was being capped at 40c, but don't think that will hold today, and think we may see 45+

purchased the old poisiden mine for 8 mil - and was featured on 60 mins with exellent exposure

Watch this baby run if it hits above 41c, i'm in now


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## Fab (18 July 2006)

Ok what is behind this stock ? I  watched the 60 minutes report this weekend and yes I heard the new owner saying that there is a lot of potential in this mine but don’t they all say that. It looks to me that nothing as started yet and it is a highly speculative stock. There is no reason why it would follow the Poseidon trend . Does anyone know why this stock should be a winner ??


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## cuttlefish (18 July 2006)

I had a quick look through their recent announcements last night. Apart from the posiedon association, and the 60 minutes exposure I can't see much. The drill intersection they spoke about in their last announcement was high grade but didn't seem that wide from what I could figure - they'd have to drill up some more interesting information I would have thought to generate proper interest - but who knows how the market behaves and I didn't look in much detail. 

The recent report on the drilling result also had a lot of bold in it - like they were trying to spruik the announcement a bit.


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## Fab (18 July 2006)

Yep that is my feeling as well at this stage it looks like there is not much to this stock except the Poseidon association.


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## Ken (26 September 2006)

its now september, stock has not done much. where do people see it heading?


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## roxy (30 September 2006)

Obviously there's not much interest on here for NIA, but was just wondering what others think of it from a technical perspective. Has it formed a symmetrical triangle? Buyers depth looking very strong at the moment, just hope it stays that way come monday. Any thoughts would be very much appreciated. Thanks


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## Ken (30 November 2006)

NIA 31 cents.  2007 looks like a big year for them 

drill results look good. no real price reaction to announcements....

do you think people are put off by the fact they are trying to gloss it up as the next poesiden??  (Spelling)


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## zerimar (30 November 2006)

No reaction at all to announcement, i guess its a good time to quietly accumulate.


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## Ken (30 November 2006)

the announcement was positive right????

 

they value inground nickel at 1.2 billion dollars on their presentation.


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## exgeo (11 January 2007)

NIA bought the ex-WMC/BHPB Windarra nickel mine near Laverton, similar kind of deal to Mincor, Independence, Reliance etc. Indicated JORC nickel resources are *4.1Mt @ 1.4% Ni for 54,400t Ni Metal* (Mt Windarra 3.50Mt @ 1.40% for 49.0Kt and Windarra Sth. 0.60Mt @ 0.90% for 5.4Kt). Current nickel price is 32,000 USD/t.

The project consists of Mt Windarra and Windarra South. These 2 mines are 20km apart along the same geological horizon. Historic WMC drilling indicates that mineralisation extends to 1000m vertical depth. An updated resource calculation will be undertaken once the company has finished digitising all the historical WMC paper-based drilling data. 820 holes were entered into the database as of the 14/12/06 announcement, with 450 remaining to be entered. The company is doing metallurgical testwork to allow the processing of 1-2Mt @ 1% Ni nickel sulphide stockpiles at the minesite via atmospheric heap-leach. They have entered into an option agreement with Goldfields to purchase a winder and ore-haulage system for use at the Windarra underground workings. A study by WMC indentified 100KOz of gold in tailings that could be perhaps economically extracted via reprocessing the tailings. There are also additional stockpiles of 1% oxide nickel ore which was not able to be processed before the development of hydrometallurgical techniques such as acid leaching.

In the acquisition announcment the company states that "In the last twenty years geophysical methods and geological concepts have developed considerably enabling geologists and geophysicists to 'explore with a new set of eyes'. Although explored extensively after discovery in 1969 Windarra can be regarded as essentially a greenfields project". (company announcement of 8/12/05).

*Exploration - WA Nickel*
The company is doing DHEM (downhole electromagnetics, a geophysical technique to detect off-hole conductive bodies such as nickel sulphides), surface TEM (a surface geophysical technique). They are also doing wedge holes from existing diamond drill holes (the drill rod is forced to deviate from the existing drillhole, creating a new hole branching off the existing one. Saves drilling a complete new hole from the surface). The aim of this is to test for Ni resources below the current workings. Highest grade hit so far is 17% nickel over 0.4m from 794.8m at Denny Bore. Denny bore is 10km from the existing mine. This intersection is being followed up by more drilling. Below the existing workings:
NMD0001E
               11.0m at 1.26% Ni (621 - 632m) downhole and
               2.95m at 2.99% Ni (646.15 - 649.10m) downhole including
               0.71m at 7.20% Ni (647.54 - 648.25m) downhole

*WA - Lead-Zinc*
Downhole clearing of a historic WMC drillhole (WED13) intersected high grade base metals from 682m downhole. WED13 is approx 4km from the Windarra minesite. The intersection is 0.3m thick and contains grades such as 

1. 20.97% Zn +  4.91% Pb + 124 g/t Ag
2. 15.06% Zn +  2.82% Pb + 55 g/t Ag
3. 35.59% Zn +  3.31% Pb + 236 g/t Ag
4. 26.80% ZN + 10.40% Pb + 211 g/t Ag
5. 36.38% Zn + 14.36% Pb + 538 g/t Ag
6. 17.29% Zn +   3.84% Pb + 72 g/t Ag

Note: These assays are from a handheld XRF machine. The photograph in the announcement shows the core has been cut, so presumably the other half has been sent to an assay lab for conventional chemical analysis. The company is planning DHEM to locate the source of the mineralisation and site more drillholes. For comparison, CBH is currently mining an orebody of 6.8% Zn, 4.1% Pb and 51g/t Ag.

*Ghana*
RSG Global is managing a programme of RC drilling to test for extensions of a 900,000 Oz gold resource into NIA's ground. This resource is currently undergoing a BFS by Adamus resources.

*Corporate*
232m shares * 27c = 62.6m market cap. There is a broker's research report on the company's website dated 29/9/06 - www.niagaramining.com.au

*Summary*
There appear to be several ways that NIA can generate early value from this project. These include
1) reprocessing the tailings to extract 100KOz of gold;
2) processing the low-grade sulphide and/or oxide nickel stockpiles;
3) exploration success. The potential for discovering extensions to the nickel mineralisation below the mine, or "blind" discoveries which were missed by old prospecting techniques seems high;
4) Newly discovered Pb-Zn intersection.


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## mmmmining (22 January 2007)

What happened to this stock? The nickel price is skyrocketing, the SP is downhill from last Oct. Today it shows some life, very interesting.


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## reece55 (22 January 2007)

mmmmmmining..........

Pretty simple mate - they are running out of cash and couldn't raise the money via the US. Still, it's one to watch. A former nickel analyst who used to work in Canada to analyze and value Nickel reserves told me that the drill results showed very promising data - I personally have no idea myself (DYOR, don't buy on this recommendation!!!!!), but with Nickel moving the way it is, perhaps a capital raise is just round the corner. And you know what that means don't you - the broker sponsoring the capital raise will pump the stock to increase the comish!!!!! I will watch this one...... it has been an explosive mover in the past.

Cheers


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## mmmmining (23 January 2007)

reece55 said:
			
		

> mmmmmmining..........
> 
> Pretty simple mate - they are running out of cash and couldn't raise the money via the US. Still, it's one to watch. A former nickel analyst who used to work in Canada to analyze and value Nickel reserves told me that the drill results showed very promising data - I personally have no idea myself (DYOR, don't buy on this recommendation!!!!!), but with Nickel moving the way it is, perhaps a capital raise is just round the corner. And you know what that means don't you - the broker sponsoring the capital raise will pump the stock to increase the comish!!!!! I will watch this one...... it has been an explosive mover in the past.
> 
> Cheers



Thanks for the info. Why don't they go after shareholders? Such as right or entitlement or so. Cannot figure it out a 60c stocks dropped to 24c in about half a year. Cannot go to their website to find more info, under maintenance. But I am very interested to find it out.


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## mmmmining (23 January 2007)

reece55 said:
			
		

> mmmmmmining..........
> 
> Pretty simple mate - they are running out of cash and couldn't raise the money via the US.
> Cheers



Trading halt. Looks like  a money raise.


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## reece55 (23 January 2007)

Suprise, suprise.........

Well, hopefully this will invigorate the price...... 

Cheers


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## mmmmining (24 January 2007)

reece55 said:
			
		

> Suprise, suprise.........
> 
> Well, hopefully this will invigorate the price......
> 
> Cheers




They have got $7.7m @$0.22 plus 2:1 options at 0.405 (Dec 09), and $0.46 (Dec 11).

I think they deal is good for NIA, as the rising share price shows.


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## stiger (28 January 2007)

Looks much stronger now with more pos anns we could be looking at a sustained rise in sp.dyor cheers


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## exgeo (23 February 2007)

Couple of interesting announcements today

1/ RAB capital becoming a substantial shareholder (22m shares at 22c each)
2/ 0.56m @ 13.49% Ni (666.48 – 667.04m) from NMD0004 reported.


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## exgeo (16 March 2007)

First ore planned to be mined from the re-opening of the Windarra underground mine in September. Making progress on re-establishing the surface facilities such as electrical and mechanical workshops. Also making progress on the project for heap-leaching of the waste dumps to produce nickel.


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## exgeo (19 March 2007)

> The Company is pleased to inform shareholders that it has acquired the Woodline Well Nickel Sulphide Project from Perilya Limited which is located approximately 10km west of the Windarra Nickel Project. The transaction with Perilya will compliment the company’s exploration and development strategy for the Windarra district. Drilling (historical) intersected 3.1m at 2.3% nickel and 6.1m at 3.0% nickel in percussion hole PDH1 and 0.9m at 4.3% nickel in diamond hole DDH1.



...


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## bigt (19 March 2007)

Potential for a >$100 million operating profit, according to recent ann. 

I think this now has great potential, 83% held by top 20, recent solid placement. Good enough for me to move out of CBH and into NIA.

Good luck to all holders, lets hope this keeps moving up.


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## mmmmining (3 April 2007)

Very strange price action before trading halt.

SP is at $0.27 pre open.

Don't what is the news. It has got some money a couple of months ago. Cannot be another placement, right?


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## exgeo (4 April 2007)

didn't a recent ann mention smth about a resource statement for the WNP mine around now?


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## mmmmining (4 April 2007)

from www.miningnews.net

--------------------------------------------
Twiggy set to join Poseidon adventure
Paul Garvey
Wednesday, 4 April 2007

IRON ore baron Andrew Forrest is expected to be appointed to the board of junior nickel play Niagara Mining – which has its foot on the famed Windarra project that sparked the nickel boom of the 1970s – later today.

Andrew Forrest
Mount Windarra nickel project in Western Australia

MiningNews.net understands that Forrest was yesterday seen entering the offices of Niagara, feeding rumours that a management restructure of Niagara was imminent.

Niagara went into a trading halt on Monday pending an announcement expected no later than the close of business today.

The West Australian newspaper today reported that Forrest and Ventnor Capital director Richard Monti were tipped to join forces with Niagara's father-and-son team of Doug and Chris Daws.

Monti was a geologist at Anaconda Nickel, the Western Australian nickel laterite play that launched Forrest to prominence. Anaconda's early underperformance pushed its then chief executive Forrest into temporary corporate exile, but he has since returned to the forefront of Fortescue Metals Group's growth into a multi-billion dollar iron ore hopeful.

Niagara picked up Windarra from WMC Resources in January 2005 for $7 million.

Windarra, whose discovery by Poseidon in the 1970s marked the start of the first nickel boom, produced about 7 million tonnes of sulphide nickel ore at grades of more than 1.58% before it was closed in 1991.

Forrest stepped down from the boards of Moly Mines and Monarch Gold Mining last year citing increased workloads at Fortescue, but late last year added a directorship at Arafura Pearls to his list of corporate roles.

Niagara CEO Chris Daws could not be reached for comment this morning.

Shares in Niagara were trading at 24.5c prior to the calling of the trading halt.


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## mmmmining (4 April 2007)

Ann is out, basic the board has sold NIA to Andrew Forrest at 20c/share! Man, these rich people are getting serious, want more, and more. What difference does it made to have $2b, or $2.1b? Andrew just want that little difference shamelessly. Fine, make me some money, I am with you.


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## sydneysider (9 April 2007)

Bought in on Thursday morning near the lows. The massive buy volume of over 50,000,000 in half a day and friendly take over of management by Forrest is indicative that NIA may run much higher next week. I suspect that a number of corporates with deep pockets are not yet finished buying. NIA is on the verge of becoming a significant producer of nickel in the near term and sits on very strategically located Ni and Precious Metal Resources.


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## Uranium (10 April 2007)

Hello,

Has anybody looked at market depth today for NIA (10/04/2007).
It looks like many buyers on my etrade platform, is it similar on anyones else?

Dom


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## sydneysider (10 April 2007)

Uranium said:


> Hello,
> 
> Has anybody looked at market depth today for NIA (10/04/2007).
> It looks like many buyers on my etrade platform, is it similar on anyones else?
> ...




Early morning bid is at 65 cents which is 7.5 cents above the last close. Should be an interesting day.


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## nizar (10 April 2007)

Im not sure whether you guys just refused to look at the sell side at all!

Theres a fair bit of sellers below 58c.

Which explains the match price (indicative opening) at 57.5 (which would be flat).

Still a bit to go before the open though.


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## mmmmining (10 April 2007)

There is no need to hope the price of NIA will move higher anytime soon. I believe Twiggy will make this one bigger and better than FMG because he is a born and burn nickel man.


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## sydneysider (10 April 2007)

nizar said:


> Im not sure whether you guys just refused to look at the sell side at all!
> 
> Theres a fair bit of sellers below 58c.
> 
> ...




Bid now upped to 70 cents??


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## nizar (10 April 2007)

sydneysider said:


> Bid now upped to 70 cents??




Seller at 50c ??


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## bigt (10 April 2007)

This is my first "one that got away"..I was stopped out of this a week or so ago at 22c...to say I'm gutted is a drastic understatement. Trying very hard to get some positives...but finding it very difficult. Who would have seen this ann on the horizon? Anyway, you live and learn.


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## sydneysider (10 April 2007)

nizar said:


> Seller at 50c ??




Bid now 80 cents??


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## exgeo (10 April 2007)

A good advertisement for never ever using automatic stops, whether executed by yourself, or automatically. Especially with small speculative companies. Buy something good and keep it until one of the following happens 1) you make a profit 2) you find out you made an error in your analysis


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## mmmmining (10 April 2007)

If you do your own research, and select a bunch of small mining companies with good and bad but understanding board and management, there is a whole bunch of NIAs around the corner. 

Use basket approach can net some good ones like NIA, MOL, HDN, ...... You might get some baggages too. But the bad one might drop 50%, and the good one can more than double. So overall, you are a winner.


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## sydneysider (10 April 2007)

nizar said:


> Seller at 50c ??





Just shy of 70 cents with almost 20 million traded. Brokers talk (take it with a grain of salt) that it will hit $1.00 as many Forrest supporters pile in.


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## sydneysider (10 April 2007)

Managed to hit 79 now holding 76 and still keenly bid with turnover now over 30 million shares.


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## Uranium (20 April 2007)

Goodmornig everyone,

NIA has been holding well so far and seems to be a resilliant stock. Does anyone hold or care to comment?

Dom


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## Taurisk (20 April 2007)

Hi

I have just bought back into NIA - made a short-term profit last month.  Now I'm back in for long-term.  Andrew Forrest is going to be on board from June, and that in itself is a driver for the share price IMO.  

Good Luck

Taurisk


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## Uranium (20 April 2007)

Hi Taurisk,

Could you please tell me a  bit of background information on Andrew Forrest. Because this stock seems to be going one way at the moment, he must be good.

Dom


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## Uranium (21 April 2007)

Hello,

Apparently there was an article in the west australian about oxiana on the prowl for nickel companies as it is in high demand in china and that NIA may be on its shopping list. But do your own DD.

Dom


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## Fab (21 April 2007)

Uranium said:


> Hello,
> 
> Apparently there was an article in the west australian about oxiana on the prowl for nickel companies as it is in high demand in china and that NIA may be on its shopping list. But do your own DD.
> 
> Dom




Shouldn't they try to buy company like AUZ instead as they are already producers and much cheaper than a non-producer like NIA


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## Uranium (22 April 2007)

Hi Fab,

Not 100% sure but this article was in the australian p46 financial review.

"Now that Andrew Forrest has amassed a $2.2 billion paper fortune and has become one of Australia's rich elite thanks to the rise and rise of his WA iron ore hopeful Fortescue Metals, it must be tempting to take some of the money off the table.

...Certainly if the talk is right and Forrest has attracted James Packer onto the share register of his other plaything, Niagara mining, Forrest now has quite an exclusive following."

If it has some truth about James Packer in the share registry this would explain the huge climb on the charts for this baby.

Cheers

Dom


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## Taurisk (22 April 2007)

Uranium said:


> Hi Taurisk,
> 
> Could you please tell me a  bit of background information on Andrew Forrest. Because this stock seems to be going one way at the moment, he must be good.
> 
> Dom




Hi Dom
Andrew ("Twiggy") Forrest has made quite a name for himself; he is a descendant of 'the Forrest Family' who were part of the elite here in W.A. - fallen on bad times and Andrew seems determined to resurrect the family fortune.  He had one abortive venture many years ago, also with a nickel mine, but the price of nickel went down, so it wasn't all his fault. The press gave him quite a hard time when he first started up Fortescue Mining, but it progressed nonetheless to the company it is now, using a lot of overseas investors as well.
He is also involved with MOL (Moly Mines).
NIA - Niagara - has taken up the old Ni tenements in 'Windarra' of Poseidon fame.   In NIA, I think, he is only stepping in in June of this year.
I see now from the latest posting here that James Packer is interested in this particular venture as well.  But the involvement of Twiggy Forrest alone is good enough for the majority of investors.

I hope this helps, but please DYOR - it's all on the net somewhere in greater detail than I can give from memory.

Cheers

Taurisk


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## Taurisk (22 April 2007)

Taurisk said:


> Hi Dom
> 
> I hope this helps, but please DYOR - it's all on the net somewhere in greater detail than I can give from memory.
> 
> ...




I have just checked a German stock forum and there Andrew Forrest is touted as the new giant in Australian commodity stocks; they also refer to the announcement on the Niagara share site;
for aussies; 
http://www.niagaramining.com.au/ 

is as good a website as any to check on NIA; of interest is particularly the last ASX ann

Taurisk


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## jmclean1 (23 April 2007)

Niagara is running hot at the moment.  In my opinion it has run up way to quick and I am looking for a small drop down to around $.90

Good luck to all those currently on board.


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## chops_a_must (23 April 2007)

Taurisk said:


> Hi Dom
> Andrew ("Twiggy") Forrest has made quite a name for himself; he is a descendant of 'the Forrest Family' who were part of the elite here in W.A. - fallen on bad times and Andrew seems determined to resurrect the family fortune.  He had one abortive venture many years ago, also with a nickel mine, but the price of nickel went down, so it wasn't all his fault.



In WA, "twiggy" is treated with a great deal of suspicion and thought of as a criminal by many. Various people that have had to deal with him professionally, regard him as one of the dodgiest people in the business.


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## Brujo (23 April 2007)

chops_a_must said:


> In WA, "twiggy" is treated with a great deal of suspicion and thought of as a criminal by many. Various people that have had to deal with him professionally, regard him as one of the dodgiest people in the business.




Don't be shy, chops-a-must!   Tell us what you _really_ think!


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## Brujo (23 April 2007)

Somebody I know was doing some contract work for FMG in Perth.  When Twiggy came across her somewhere in the office apparently he just looked at her and asked "do I need to know you?".  Speaks volumes about the guy.


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## daaussie (23 April 2007)

NIA at $1.02 - great day trading stock, very powerful and no sell depth stops it! I havent seen a stock like this in a while. Some people with very big pockets buying it.


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## Ruprect (24 April 2007)

Looked like there was some resistance in early trade at 1.05, 1.5million shares on offer. It looks like they were taken out in one big hit.


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## Taurisk (26 April 2007)

chops_a_must said:


> In WA, "twiggy" is treated with a great deal of suspicion and thought of as a criminal by many. Various people that have had to deal with him professionally, regard him as one of the dodgiest people in the business.




Hi chops

I am only a small-time investor/trader, but many years ago (early 80s) I've had some experience working in a solicitor's office where a number of small mining companies were run from.  In those days I had no idea about the workings of the stockmarket, but I was aware that the geologist turning up at my computer every 3 months to dictate a report to the stockmarket hadn't been out of town at all, and here he was spouting assay results.  What I realised then was that the stockmarket is easy pickings, especially in good times, and many companies are de-listed and their entrepreneurs are never heard of again.  Andrew Forrest tried again and look, he is successful.
Also, what do we really know about the past of the many people who run those small mining companies?  Do we want them to be upstanding citizens, with perfect manners, or do we really mind, if they're rogues, so long as they have the capability to turn their piece of dirt into a productive company; or at least drive the share price up so we can make our small profits?  
If you have only ever known just one ex-miner who has a tenement (usually a gold mine), then you know what kind of shenanigans they get up to in order to part people from their money.


Cheers

Taurisk


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## Techbuy (26 April 2007)

Taurisk said:


> Hi chops
> 
> Do we want them to be upstanding citizens, with perfect manners, or do we really mind, if they're rogues, so long as they have the capability to turn their piece of dirt into a productive company; or at least drive the share price up so we can make our small profits?
> If you have only ever known just one ex-miner who has a tenement (usually a gold mine), then you know what kind of shenanigans they get up to in order to part people from their money.
> ...




I like your reply Taurisk, I held NIA for over 8 years and could not see me ever recovering my outlay as they cruised along well below what I bought them for and then along comes "Twiggy" and I make a profit so I say what ever his past good luck he bailed me out. 
But! at the end of the day I am surprised when you look around at company which has a new plant coming on line (commissioning now) will be fifth biggest diamond miner in the world so the price drops from around $2.00 to $0.72, They already are producing and doing well, then another one who actually is mining and paying dividends at a SP $0.62 and many of the other miners that are actually producing the goods and trading well below NIA.
So how does NIA go to a $1.00 with only reports of what they are going to do and one person getting involved? Is it because someone said "Posidon" as thay are in those workings and then everyone goes GaGa over the old "Posidon" SP.  The share market is an interesting place thats for sure, defying logic at every turn.


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## spooly74 (28 April 2007)

Did anyone see in the SMH Weekend business today that Forrest is thinking of changing the name to *Poseidon Mines *...surely thats worth a tick or two.

Sorry if old news.


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## Techbuy (14 May 2007)

Does onyone know anything about NIA's leap to $1.40+ today, I cannot find any news that would account for it.


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## tayser (14 May 2007)

I'd like to know as well - this is one I'm just paper trading - jeepers creepers what the flapjack's is going on?!

that's an insanely large jump today!


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## Techbuy (14 May 2007)

Techbuy said:


> Does onyone know anything about NIA's leap to $1.40+ today, I cannot find any news that would account for it.




It has gone to $1.70 and still going up.. Poseiden all over again?
One of the markets interesting one's.  Sad I sold out a long time ago...


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## Ruprect (14 May 2007)

Right. 

At 5.56pm EST, NIA release a price sensitive announcement, re a drilling update for the Windarra Nickel Project. No doubt one of the reasons for the massive surge today.

At 7.18pm EST, NIA respond to a speeding ticket from the ASX. 

Q:"Is the company aware of any information which could be an explanation etc etc", A: "The company is not aware of any such information".

Q: "Is there any other explanation for the price change etc etc" A: "Other than recent announcements regarding changes in significant holdings and conversion of options, etc etc, the company has no other explanation for the price change and the increase in volume"

Anyone care to explain how they can respond to a speeding ticket with a "I know nothing" after they have released a price sensitive announcement? 

The speeding ticket refers to NIA hitting a high of $1.79, which didnt occur until close to 3pm EST. Therefore, we could reasonably expect that NIA were responding or considering their response at about the same time that they were releasing the price sensitive announcement. 

I understand that leaks occur, but a total denial of reality is taking things a bit too far. Just my opinion.


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## Love Zn (14 May 2007)

A 58% change at it's peak  , closing at almost 31% above previous, sure does look like the drilling report was leaked and people taking profits towards the end of day trading.

Sure is an interesting boat ride.


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## Miner (15 May 2007)

Hi Ex Geo
Can you please give some more explanation of your points on NIA for Non (Never) Geos like me ?


Regards

Miner
14 May 07


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## Ruprect (16 May 2007)

SMH have picked up on the NIA surge on Monday, and their denial of reality in their response to the speeding ticket. May see another query from the ASX.

*Niagara flurry mystifies market*

TIMING could be everything when it comes to Niagara Mining's mysterious 59 per cent share price spike just hours before the company released positive drilling results from the historic Poseidon nickel project on Monday evening.

It is believed the Andrew Forrest-backed explorer could be forced to respond to a query from the Australian Securities Exchange as early as today regarding when the directors received the drilling results. The query is standard procedure in such cases.

Niagara shares rose from Friday's close of $1.13 to a peak of $1.795 during trading on Monday, seemingly on no new news. But there were rumours that good drilling results were about to be released circulating on online message board HotCopper.

At 5.56pm Niagara released positive drilling results from its Windarra project in Western Australia, which was discovered by Poseidon in the 1960s. The announcement was marked "price sensitive".

At 7.18pm, Niagara finally responded to an ASX share price query. It is understood the stock exchange had sent the query hours earlier, before the release of the drilling results.

In response to the query, Niagara made no mention of the price-sensitive drilling results.

The only possible explanations it gave for the increase in its share price and trading volumes were changes in significant holdings - presumably including long-time backers of Mr Forrest buying the stock - and RAB Capital recently injecting $8.65 million of funding by converting options.

Niagara managing director Chris Daws yesterday refused to provide any insight into the time-line or the share price spike.

"I am not prepared to talk to The Sydney Morning Herald," he said. "You better do more digging. You certainly won't get it from me."

Mr Daws was for years subject to a permanent ban on being a securities dealer or investment adviser. The ban was lifted last year after he successfully argued it was hindering him from becoming a company director.

Mr Forrest, the multi-billionaire behind iron ore developer Fortescue Metals, is set to become Niagara's chairman and to receive 115 million options following a shareholder vote. Mr Forrest has said he would replace Mr Daws with a new managing director.

Since Mr Forrest announced plans to join Niagara, which he hopes to rename Poseidon Mines, the company's share price has risen from 24.5c to close at $1.39 yesterday, 9.5c lower than Monday's close. At yesterday's closing price, his options package would already be more than $270 million in the money.

At least 30 per cent of Niagara shares are believed to be held by supporters of Mr Forrest, including HMC Investors, RAB Capital and Mr Daws and his father, Niagara's executive chairman, Doug Daws.


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## miiine (16 May 2007)

hmm nia announced a trading halt as of 10am this morning...can any one shed any light on this? could it be to do with the apparent leaking of their previous announcement or something new?


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## Ruprect (16 May 2007)

miiine said:


> hmm nia announced a trading halt as of 10am this morning...can any one shed any light on this? could it be to do with the apparent leaking of their previous announcement or something new?




No idea at this stage. If it was a further query from the ASX, im not sure why they would need a trading halt, they will just deny all knowledge anyway. Unless the ASX have requested that - im not totally familiar with their rules.

Perhaps it is a positive announcement, seeing as how the leak on Monday allowed all their mates to make a significant quid, no point pushing things even further and trying it again today.


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## Ruprect (16 May 2007)

Announcement out - have signed an exclusive Nickel Marketing Agreeement with Fortescue.

Big surprise there! Lets see what it does for both companies, and i wonder who will be the major beneficiary of any agreement?


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## miiine (16 May 2007)

isn't andrew forrest on both nia and fmg? maybe not such a big surprise now i think about it... probably would help nia more than fmg, but i'm no expert here.


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## Ruprect (16 May 2007)

miiine said:


> isn't andrew forrest on both nia and fmg? maybe not such a big surprise now i think about it... probably would help nia more than fmg, but i'm no expert here.




He sure is! FMG and NIA keep rising, he will be close to the richest person in Australia - on paper anyway. Im very cautious on the way he operates, but the market dont seem to mind - my loss i guess!

You are right, a bigger boost for NIA, but FMG are up well after the announcement too.


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## ekman (16 May 2007)

This NIA and FMG deal sucks for shareholders who have not been able to be informed thru the usual lines of communication. Why the f.. did they have to open trading in the middle of the trading day - why not wait for the next day
How was it that FMG sp has been going up and up for no reason for the past so many days. so definitely there was a leak
i do nto hold any of these shares but i am in general pissed off at the way these companies release their information to the market. Same issues were raised with PMN and SUN merger. The market seems to tell us that all is open and info provided on time. SURE

SUCKS


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## miiine (16 May 2007)

ekman i think nia wanted to be seen doing the 'right' thing. seeing as how the previous announcement must have been leaked (explaining the jump from $1.10 to $1.79 in the same day), then the announcement coming after the day's close, the asx would have been watching them closely.

i think nia just wanted to do the bare minimum in the rules to save their own collectives.


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## ekman (16 May 2007)

miine - yes too right. do you think all this big of town dealings and wheelings suck for mum & dad investors. i think therefore many analysts recommend these mum dad people to invest in well managed companies
anyways - that is whinge for toady !


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## Kauri (16 May 2007)

Just might be the next Australian Mining House in the making????....... (FMG-NIA-MOL).. Just a random thought...


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## miiine (16 May 2007)

ekman said:


> miine - yes too right. do you think all this big of town dealings and wheelings suck for mum & dad investors. i think therefore many analysts recommend these mum dad people to invest in well managed companies
> anyways - that is whinge for toady !




i think you've hit it on the head ekman. at the end of the day the boards of most of these companies (i guess some do try to do the right thing) will look after their mates, then their shareholders. it does suck. i think a lot of us have seen not just nia, but quite a few other companies release announcements late, giving their mates an opportunity to sell out or buy in.

the rest of us who aren't in the know get shafted. even tho i've made some money on nia in the past few days, i still find the way they've released their announcement disgraceful.

there's my whinge too lol.

that all said, it does look pretty good with nia, i'm guessing that andrew forrest had quite a bit to do with this...

-> nia board to be re-organised

->strategic alliance between fmg and nia - both companies to leverage off each other's experience. this mainly looks like in nia's favour for now.

i'm trying to see what's in it here for FMG. possible takeover? would be interesting to see how the nia board is re-organised.

This part of the announcement strikes me:

The Strategic Alliance currently being formulated by the parties is an opportunity for
Niagara Mining Limited to leverage off the large industrial strength and capabilities
that Fortescue Metals Group Ltd has built over the past few years in developing the
“New Force in Iron Ore” and assist in creating a formidable world class nickel
exploration, mining and production Company.

Possibly FMG looking to strengthen its nickel capacity? If they're gonna market it for NIA, is it possible that they're thinking about buying it out if it proves worthwhile?


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## bigdog (18 May 2007)

Nine knew about Niagara drill results
Jamie Freed
May 18, 2007
http://www.theage.com.au/news/busin...a-drill-results/2007/05/17/1178995324348.html

POTENTIAL Poseidon nickel resurrector Niagara Mining has revealed that at least nine people knew about its positive drilling results for more than a month before releasing them to the market on Monday evening.

But it has not yet made public details of its negotiations on a nickel-marketing agreement with Fortescue Metals, announced on Wednesday, that may also shed light on Niagara's mysterious 59 per cent share price spike on Monday.

On Monday evening, Niagara told the Australian Stock Exchange it was unable to provide an explanation for the spike beyond the attention it had attracted since Fortescue chief executive Andrew Forrest announced plans last month to join its board. It also mentioned that prominent investors ”” at least one of whom also holds shares in Fortescue ”” had recently purchased Niagara shares.

Niagara received the query about the drilling results from the ASX on Tuesday, a day before the announcement of the Fortescue marketing deal. But the response was not made public until yesterday.

Niagara said it had known about "certain parts" of the drilling results since around April 10, but did not release them due to the "incomplete nature of this information and the various sampling, data compilation and internal reporting processes". It provided a list of eight people, plus an assay laboratory, who were aware of the results prior to the announcement.

It is not known if the ASX sent a second query after the Fortescue announcement.


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## Love Zn (11 June 2007)

Has anyone else seen the proposed resolutions for the next AGM? And what are your thoughts?

Name change to Poseidon Nickel - really just to cash in on the name of "Poseidon".  Corporate expense not required at this stage, better spent on mine development.

Mr.Forrest and Ventnor are to be issued shares, which would have a dilution effect on existing Shareholders of approximately 3.6% (page 18, 10.3 (j)).

My biggest concern is the issue of all the options to Mr.Forrest (115 M) and Ventnor (2.5 M).

From Independent Expert's Report:
"There is no initial direct cost to Shareholders as a result of issuing the options.  The cost to Shareholders will only arise if and when the options are exercised which can only happen if certain conditions are met.  However, the cureent value of a Nigara share is such that the options could be exercised immediately".

So what is the cost to the Shareholders if they were exercised?  They don't seem to go into that.

But here is one example:
"Loss of control
There is the potential that Shareholders of Niagara will lise control if Mr Forrest exercises all of his options.  Following the issue of the 5 million shares to Mr Forrest, he will hold an interest of approximately 2% in the shares of Niagara.  If all of the options in Niagara are to be exercised then Mr Forrest would hold an interest of approximately 41% in Niagara (approximately 43% assuming no other options are converted).  this means that Mr Forrest will be capable of blocking any vote requiring 75% shareholder approval."

I think it is a good thing Mr Forrest joining the board, as also shown by the share price increase when announced, but it seems like a lot of control is being handed over to him for no effort.  The condition on the options should have been on an increase in share price after him coming on the board, not on share prices that are already exceeded.

I'm sure all the resolutions will get through, so will be interesting to see how the market takes it.


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## s3081402 (12 June 2007)

I bought these at $1.34 any chance of going up. Look like people have lost interest in NIA alot of selling today.


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## henry vanderhave (12 June 2007)

My view only,but I think the price at the moment is a wonderful buy in point.Look what forrest has achieved with fortescue.Once he becomes the ceo of viagara this share could take off like the shuttle atlantis.This guy has muscle,when he says jump they say how faror high.I have no qualms about saying yes on the forms,as a matter of fact I jumped across the room to get the pen.Keep the faith strong.over and out.


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## s3081402 (13 June 2007)

For a company with good cap before this last few months there price is around 20 cent with is pretty low. So hopefully NIA can make a jump to the top


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## Love Zn (13 June 2007)

Short term I don't see this going up.  It's sitting on a support of $1.20 and depending on tomorrow, the next support is probably around $1.10


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## geminidreams (13 June 2007)

Pehaps they should more appropriately name this one Poseidon Adventure Mining.

The original Poseidon made no money out of their nickel foray at Windarra but was eventually quite successful with their interest in the Golden Mile. Hopefully this lot have a backup plan too!


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## giss (20 June 2007)

i haven't heard anything from this stock for a while. I wonder if its been oversold? Its probably dependent on the price of nickel


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## Love Zn (24 June 2007)

giss said:


> i haven't heard anything from this stock for a while. I wonder if its been oversold? Its probably dependent on the price of nickel




Nickel had a bit of a rally last week, not sure if it will last though, but if it does, may see a breakout again.


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## Love Zn (26 June 2007)

With the MACD looking like it was about to start heading up, but instead it bounced down with the fall of NIA share price againl, which just confirms the sell.

Won't be looking to buy back into this for a while, not unless the nickel prices start coming up again.


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## s3081402 (28 June 2007)

NIA increase 20% today. Anyone know why or is it because the price was to low for buyer to resists.


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## adobee (25 July 2007)

Whats happening with Niagra Mining ?? I looked at it some time ago and then again today but cant get any info on it with comsec ? Either comsec has a problem or the company does ? Any one watching this/ holding please advise if anything dramatic is happening ?! Thanks


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## Blumoontrader (25 July 2007)

It's Now Posiden Mining  ASX code POS

Wonder if it is an omen??

Didn't have a good day today... But then again, neither did the market


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## Miner (25 July 2007)

*Re: NIA - Niagra Mining NOW Posdein*

Yes you are right. The new certificates have been issued. THe Pos share probably reflecting its true value. Now Andrew FOrest got his shares and options at too cheap price just to lent his name. He was too busy even to attend the AGM when the shareholders unashamedly crowned him to be chairman. Well done but with FMG being the front runner it is doubtful that he would have time for Posdein. So with no sound technical or fundamental POS will be sliding further.

I do hold this shares but now realising the reality of its myth.


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## stevemosh (29 July 2007)

Guys

this stock is very over valued now and i can prove it

hence the drop in price and its due to projected income no longer going to meet its target. - also why there has been no real ann's recently IMO

The reason the SP shot up in april was not because of Andrew Forest, it was because they predicted a $137 mil profit - that took the price from 75c all the way up to $1.80. That was using the current nickel price, however since then the nickel price has fallen over quite hard, have a look at this

http://www.lme.co.uk/nickel_graphs.asp

they made this prediction near the top of this high, because of the huge costs in producing this nickel by leaching they have lost all their profit margin, take the ann in april where they did all the maths for the profit and replace that days nickel price of $45K/t with todays of $31K/t it brings the profit down to $12mil which is 10% of what they predicted.

this is why the price shot up so hard, and has come back down to the price prior to the announcement. This stock will only make money with nickel prices around $45K/t and you want a realistic sp as well not where it is now

So for people who don’t read reports, 
-sp went from 22c to 75c when Twiggy came on board.
-sp went from 80c to $1.85 with the projected profit report of $137mil
-Sp is now headed from $1.85 to ??? now nickel price is $31K/t and profit will only be marginal of what was expected


so the reason for the price drop is all the smart money has been slowly pulling their money out. This stock IMO will keep going down hill untill the nickel price /t comes back up to the record highs when they made than announcement. 

knowing this now have a read of this news artical

http://www.smh.com.au/news/xchange/poseidon-returns-has-marginal-plan/2007/07/02/1183351125682.html

Some key comments in this artical:
It will need nickel prices well above the long term average to make a go of it.
Forrest hasn’t brought much to the table yet!
The project may have looked good a few weeks back when nickel was trading at record highs
Could rank it as the most expensive producer in WA
The projects chances of getting off the ground are not looking great.


IMO this stock is too risky to own now as you are gambling that nickel prices will go back to record highs, if it does not than the income stream NIA had in place to create revenue will no longer be at the level thay said it would be.


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## Miner (29 July 2007)

Dear Stevemosh
Well said. ONe correction regarding Andrew Forrest has not brought any thing on the table and that was  not quiet correct.
He gave people hope for gold on the table and that turned out to be nickel . He will gain enough from his options granted, and you get nickel. When he was to deliver nickel at Anaconda he created a big whole . He would do the same when hypes get subsidised in MOL and FMG . Look at IRL there he is too.
Good luck Twiggy and good luck to his investors who bought FMG shares at $36 only a week back. 

Enjoy and regards

Miner


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