# 1MC - Morella Corporation



## pedalofogus (19 October 2010)

I notice there has not been any threads about this stock on ASF in the past, which surprises me given the amount of good news that has been coming out of this company over the past 12 months.

If there are any watchers of AJM in this forum, what are your thoughts on the latest round of sensational lithium results that have been reported by the company?  Are you as surprised as i am to not see the company trading at 40 cents?


----------



## Trevor Perth (19 October 2010)

Used to be Haddington and a few years ago popular (theres a thread on ASF.)
I managed to buy high and sell low at the time!!
Seemed to be a lot of promise but no delivery..


----------



## pedalofogus (19 October 2010)

Hi Trevor, thanks for the reply.

I also have held shares since the 'old HDN days', but for some reason didn't think to check for a HDN thread when i was checking for AJM threads. haha oops.

If you haven't looked at the company since your initial trade on it, i reckon you should have another look at it.  I believe it is the most exciting stock in my portfolio at the moment.

The management is totally different to the HDN days.  The board of directors are totally different people to the old HDN.  All bar one of the current directors is an ex New Hope (NHC) senior, and hopefully i don't need to give you the background of what those guys did at NHC (floated at 50c, now trading at 5 dollars...even after a 70c cap return).

As a result of the new management, they have cleaned out the 'underperforming' projects that the previous directors had left them with, and are building a brand new portfolio of projects including:

   - 30% ownership of Iron Ore JV with AGO
   - 100% ownership of promising lithium project
   - 100% ownership of uranium projects
   - Coal project in Indonesia

   + 20m cash in the bank

And it is no surprise (based on their backgrounds) that they are reportedly looking at additional Indonesian coal projects.

Anyway, that's just a summary of my research if you haven't been watching it lately.

Cheers
Pedalofogus


----------



## Trevor Perth (19 October 2010)

Thanks Pedalo for the update.  I did some research after reading the thread and I admit it looks interesting.  I'm torn between AJM and LYC. Both in the same game but LYC have been bolting for some time.
This article in the Business Spectator today was interesting. http://www.businessspectator.com.au...e-earth-export-qu-AD2DC?OpenDocument&src=hp12


----------



## pedalofogus (19 October 2010)

Agreed, very interesting article.  Thanks

A newsletter i subscribe to (Aust. Small Cap Investigator) has been spruiking rare-earths stocks for a long time now, and has 2 of these stocks on it's recommendations list (being LYC and ALK).  Both have run very hard since ASCI introduced them to subscribers, and therefore they are listing them as HOLD at the moment.  I'm just not sure how much longer they can run for.  But both appear to be very good companies.

AJM has stayed out of the sight of media and analysts until now, but this is starting to change.  I am hoping for a run similar to LYC and ALK once the brokers etc continue to make recommendations on it (similar to the recommendation made by one particular broker recently).


----------



## System (20 October 2010)

Altura Mining Limited (AJM) was formerly known as Haddington Resources Limited (HDN).

Previous discussion of this company can be found in the HDN thread: https://www.aussiestockforums.com/forums/showthread.php?t=6379


----------



## pedalofogus (22 October 2010)

Pretty good annual report out today.  Their summary of projects at the beginning of the report really gave a good description of the projects on the go and where the company is headed.

These new directors are really warming to the task of keeping the shareholders informed.  They are certainly doing better than the previous management of the company.

I also found their company vision (I guess that's what you would call it) very good as it gave you an idea of where the management has got it's focus:



> Altura's specialty is to develop exploration tenements into value adding mining assets with a focus on:
> 
> Iron ore, coal and garnet in medium term
> Lithium, coal and uranium in the future
> Acquiring or developing new mineral projects




I personally think that the focus on Li, Coal and U into the future is a very wise decision.  I notice they also have some gold prospects in their portfolio, and I would like to see gold added to their focus, but that's just my opinion.


----------



## pedalofogus (3 December 2010)

Finally some coverage for this little stock. Shaws have issued research report giving ajm value of 25c. Not as much as I would have thought, but they have admitted being conservative, and it is much higher  than 15c current price.

Go to research report section of ajm website to have a look. Definitely a good read imo


----------



## Hatchy (6 December 2010)

Bit of media coverage here also http://www.theage.com.au/business/s...diversified-junior-altura-20101205-18la7.html

I'm not a holder of this stock, but it looks good so far.


----------



## xenith69 (19 December 2010)

Thx for the heads up on this one guys
Not a holder yet, but going to do some more research as i think the Li train is about to leave so to speak! IMO only


----------



## TheAbyss (4 February 2011)

Up 22% today on good volume.

Attribute this to the Atlas Iron reserves upgrade yesterday re significant resource upgrade for Mt Webber which AJM and AGO are partnering on (AGO 70% - AJM 30%). Bought AJM and HAO on spec that AGO will take them out so this is a decent little earn for the interim. 


http://www.asx.com.au/asxpdf/20110131/pdf/41wg4k90gd3vdt.pdf


----------



## pedalofogus (4 February 2011)

yes, i think it could be due to speculation of AGO takeover possibility.  could also be due to possible resource upgrades coming up for Mt Webber.

another possibility is a random one........people speculating on AJM due to THX trading halt.  THX trading halt is to finalise resource estimate for 'Thunderball' uranium project.  AJM has 'Long Island' uranium project along strike of Thunderball and Bella Rose.  Will be interesting to see what happens when THX announces next week.

Other possibilities include lithium results or tabalong coal approvals.

Do any other AJM watchers have any opinions?


----------



## lazyfish (12 March 2011)

Have taken a position in this company very recently following weakness in the general market.

Company has iron ore JV with Atlas - currently drilling (in-fill?), but timing wise it is a bit uncertain IMHO due to take over of GIR, making cash flow unpredictable.

Coal project in Indo is sort of going and coal quality seems quite solid. Transport route needs to be sorted out and some government approval needs to be sorted as ewll but board seems to have expertise in coal.

What really draw me to the company is its lithium prospect. Some drilling has been done and although the first resource released would be small and uneconomical at current lithium price, I believe the area is prospective for more discoveries. Grade is also impressive and the veins are shallow. Very few Asx companies have exposure to lithium.

As always please DYOR.

Disclosure
I have a material interest in the company.


----------



## pedalofogus (9 May 2011)

Further lithium results today from pilgangoora. With more areas still to be drilled, resource could be as good or better than GXYs mt caitlin resource. 

Pretty good for a company that has a market cap which is 1/6th of GXY, and also has other very promising projects (coal, iron ore, etc).


----------



## Gringotts Bank (21 May 2011)

I like the feel of this company.  20c short term I reckon.  Before buying, I'll wait for a decent day on our market and a bit more on the buy side (currently B:S = 0.83) AND a solid start to the day, maybe t/o of $200K by 10.30


----------



## pedalofogus (23 May 2011)

Pre-open looking pretty solid today.  Is that the sort of thing you are looking for GB?

Or is that you setting your position?


----------



## Gringotts Bank (23 May 2011)

What I was looking for pedal, only that the big gap now means that it will probably trade around 20-21c for the rest of the day.  I got in at open so I'm not all that happy with my entry.  Should have got in on Friday.  If we can get 5-6mill of volume today, that's a good sign for tomorrow's open, imo.


----------



## pedalofogus (23 May 2011)

Yeah, Friday would have been a much nicer entry! But who knows, we might be a lot higher than this in a week.

Given that the company has advised that drilling results for the Lithium will continue to come through in coming months, and that AGO will finalise plans for Mt Webber DSO, and that approvals will shortly be through for the Indonesian Coal project, i wonder whether this is just some sort of technical pattern, or whether this is the pre-buying by people in the know before some sort of announcement in the coming days? 

Wait and see i guess


----------



## Gringotts Bank (23 May 2011)

It was the chart and the strong pre-open that drew me in, but it seems it has strong fundamentals to boot.  Some nice sentiment floating around on the HC threads, such as: "a$ a$123 million for tty +$36 million"


----------



## pedalofogus (23 May 2011)

Yes, AJM does seem to have a very loyal following on HC.  There is one regular poster on there (Aksier) who rates it an excellent value stock and has a value on it of approx 70c per share.  So even after it's solid move up to 20c today, I still believe it is really good value.  

Article in SMH today (http://www.smh.com.au/business/outlook-for-iron-ore-prices-at-bubble-levels-20110522-1eywp.html) is very positive on the stock.  Predicts net cash flows from the end of 2012 from the coal and DSO operations of $70million per annum, and then there is the cashflows from the lithium which will hopefully come in some time after that.  So for a stock with a fully diluted market cap of $91million, $70million of cashflows is incredible.


But to be entirely honest, while i think the DSO and lithium are really good, the main thing that has drawn me to this stock is that the management team is made up of all ex-NHC guys (New Hope Group ASX:NHC).  I got some shares in NHC when it floated for 50c, it is now trading close to $5 and has paid out a couple of bucks per share of dividends and capital returns in that time too.  So for me the COAL is the major drawcard


----------



## pedalofogus (26 May 2011)

We closed at 21c today. Very good move, and its clear something is brewing here.

Good luck to all holders


----------



## Mrs P (31 May 2011)

Would welcome your thoughts on the 7% drop today.. any reason for this.. 
ive done a bit of scouring of the net but cannot find reason for this.
Profit taking from the last 10 days gains perhaps?

THANKS IN ADVANCE


----------



## pedalofogus (31 May 2011)

Mrs P said:


> Would welcome your thoughts on the 7% drop today.. any reason for this..
> ive done a bit of scouring of the net but cannot find reason for this.
> Profit taking from the last 10 days gains perhaps?
> 
> THANKS IN ADVANCE




I believe it is a combination of a couple of factors:

1. Profit taking from 10 days of gains
2. I believe some of the run was speculation of news, which hasn't come therefore causing impatience selling
3. Tech guys will tell you there is a gap at 18 cents that needs to be filled

But no matter which way it goes, the fundamentals haven't changed. Coal, iron ore and lithium could all be producing cashflows within 3 or 4 years.


----------



## Mrs P (1 June 2011)

pedalofogus said:


> I believe it is a combination of a couple of factors:
> 
> 1. Profit taking from 10 days of gains
> 2. I believe some of the run was speculation of news, which hasn't come therefore causing impatience selling
> ...




thanks for that,

Which prompts another question...
I have 2 strategies (being a very loose term as i am relatively new to this) re trading/investing  the first being short-term (24 hrs -6 weeks) whereby i purchase stock that has experienced a downturn of 10% + in a short term due to market sensitivity rather than any announcement or change in fundamentals.
The second is a more long-term (1-5 years) into either a "solid" stock such as WPL or BHP or perhaps a small amount into a slightly riskier "punt".. companies that appear to have a great deal of value should R+D /Exploration pay off.

So... my question is, which of these would you say AJM would fall into if any.
thanks again


----------



## pedalofogus (1 June 2011)

For me personally, AJM primarily is a long term investment.  While it is only a small (or micro) cap company now, i believe that if they can get the 3 projects (that i mentioned in my previous post) off the ground by 2014, then they will be looking at net cash flows of approx $100m (based on my personal calcs...DYOR).  Therefore, using a PE of 10x they could be a billion dollar company by 2014, which puts the share price at about $2.00 (based on fully diluted shares on issue of 460 million shares approx).

So for me it is a long termer, however i wouldn't say it is the same as BHP or WPL, because there is still the extra risk associated with its relatively small size.  So you need to be comfortable with those extra risks.  Having said that, the directors are mostly from New Hope Group (ASX:NHC) which is one of the 50 biggest companies on ASX (however isn't in ASX50......i guess because it is majority owned by 1 group of coys), and also their major project is a JV with Atlas Iron (ASX:AGO) in which Atlas will be managing, and Altura will pretty much just be banking cheques.

So for me the fact that their management have that large cap background, and the fact that their major project is actually managed by a decent sized company, means that the 'small cap risk' is minimised in my opinion.




Having said all that about the long term prospects, i still hold a small portion of my AJM shares as a short term investment, and i do trade the highs and lows of the short term share price.  But for me it is only a small portion of my holding because if i missed the big moves over the next couple of years as a result of hunting for a few cents in the short term, i dont think i would be able to forgive my self.


Just my opinions, please do your own research.


----------



## Mrs P (2 June 2011)

ANY REASON FOR THE SHARP DECLINE 1ST THING THIS AM???

Good time to buy in?


----------



## pedalofogus (2 June 2011)

Mrs P said:


> ANY REASON FOR THE SHARP DECLINE 1ST THING THIS AM???
> 
> Good time to buy in?




HotCopper users have been discussing that AJM needs to go back and fill the gap at 18c, and it appears that is pretty certain now.

The broader market is also down 2% this morning, so the small and micro caps like AJM generally get hammered the worst in these sorts of environments.

I personally will be waiting for it to bounce off 18c before buying another short term trading parcel.


----------



## Mrs P (2 June 2011)

pedalofogus said:


> HotCopper users have been discussing that AJM needs to go back and fill the gap at 18c, and it appears that is pretty certain now.
> 
> The broader market is also down 2% this morning, so the small and micro caps like AJM generally get hammered the worst in these sorts of environments.
> 
> I personally will be waiting for it to bounce off 18c before buying another short term trading parcel.




OK, So was in at $0.185...
lets hope for a nice bounce!


----------



## mrlister (14 April 2012)

What are people's thoughts with where this one sits?


----------



## pedalofogus (20 April 2012)

My view is that it will sit in a holding pattern around 20c until we get some of the news we are hoping for.  The following is my summary of upcoming price triggers (IMO):

  - Forestry permit for Tabalong Coal;
  - Positive outcomes from feasibility studies for Mt Webber from AGO;
  - Resource upgrades at Mt Webber;
  - Resource upgrades at Pilgangoora Lithium;
  - News on progress of tender for coal areas in Philippines.

All of these are due in the short term according to previous announcements by the company, and any of them have the ability to push the SP above the current resistance of 23c.  If that were to happen, i see 35c as a short term target.  But there is potential that we could get more than 1 of these in the next 2 weeks, and that would be massive IMO.  I will make a prediction right now that the SP will be above 50c by year end.

Just my opinions. Plz DYOR. Thanks

Disclosure: I hold a parcel of AJM


----------



## mr. jeff (20 April 2012)

pedalofogus said:


> My view is that it will sit in a holding pattern around 20c until we get some of the news we are hoping for.  The following is my summary of upcoming price triggers (IMO):
> 
> - Forestry permit for Tabalong Coal;
> - Positive outcomes from feasibility studies for Mt Webber from AGO;
> ...









I agree that there is something needed to convincingly break up over 23c. When it does, and then takes a retest, it will be a good entry.

Further, looking at the current action it seems that the consolidation from 21-23c is a positive sign  as there has not been a sharp sell down from resistance. Time will tell whether this lack of selling holds up. If news is not good it might have a look back at 19c quite quickly.


----------



## pedalofogus (23 April 2012)

Good announcement today re new coal areas being purchased in Indonesia.  Doesn't appear to be having a big impact on the share price (and doesn't seem to be pushing it through the 23c barrier), but this is big news for the longer term Indo coal operations. 

This is what these guys to well and the more coal areas they have, the more money i will be making in the next few years 

Unfortunately it appears that the market is only interested in the DSO at Mt Webber at the moment, because news on that appears to be the only thing driving this share price. 

On the bright side, news is expected any day on the DSO so we may be moving sooner rather than later.


----------



## oldblue (24 April 2012)

The market is a bit wary of the Indonesian govt's mining regime/rules, especally since recent announcements which appear to tighten these in favour of more compulsory local ownership of successful drills. Whether or not there is good reason for such caution I wouldn't know but its keeping me sidelined at present.


----------



## piggybank (3 February 2014)

​


----------



## pedalofogus (19 February 2014)

Thanks for the chart piggybank. Excuse my dumbness (more of a fundamentals trader rather than technicals), but what does it show is the future? Thanks in advance


----------



## moses (1 April 2016)

Wakey wakey...surprised to see this lithium play slipping under the radar!


----------



## HelloU (27 June 2018)

bump, 
tell me about all those recent trips to china please, and hit the big green button at site. This thing is now a miner...for those into this sort of future...(pilbara min the same)


----------



## HelloU (28 June 2018)

put out some investor forecasts the other day.....lots of coloured charts showing greatness (ummm it was an investor thing so that is what u get)....what I took away from it is that if things tank then altura should not be the first to go bust.......you cannot eat a forecast though.


----------



## HelloU (23 July 2018)

so commissioning done, production is go. enough concentrate to fill 1st ship at mid-Aug.


----------



## HelloU (24 July 2018)

Activities Report out today.....all good......slight dancing around offtakes and JRO partner issues, but so far so good (as above).


----------



## HelloU (24 July 2018)

oh....and cash position ok and strengthening (comment subject to above)


----------



## HelloU (25 July 2018)

oh.... and offtake warehouse done in town (Qube has their finger in that - and PLS end as well - for those into that)


----------



## HelloU (8 August 2018)

HelloU said:


> so commissioning done, production is go. enough concentrate to fill 1st ship at mid-Aug.



and now being trucked to port storage..........cash ok but financing a little unclear.....and the take off for next year still a little vague for 1 of the 2 partners.........stage 2 talks all smiles but I cannot see the point without full stage 1 sales........price has been hammered of late....are the risks fully priced in now?


----------



## Country Lad (8 August 2018)

HelloU said:


> and now being trucked to port storage.................price has been hammered of late....are the risks fully priced in now?




This is fairly typical of explorer turning into a producer.  A bit of hype and blue sky while exploring and the price based on "maybe they will find some more".  Then they become a mining company and not an explorer and the fundamentals replace the blue sky.  I have a habit of selling explorers when production is imminent as the price usually drops.  There are always exceptions, but I have found that this is generally the case. this is


----------



## HelloU (8 August 2018)

fall is expected and part of the junior cycle as u say........but these guys have a few more overhanging issues to work thru (compared with PLS, TAW etc) that should have been/were put to bed already but have woken at midnight screaming.........and some are contractually locked with solutions somewhat out of AJM hands.


----------



## doogie_goes_off (8 August 2018)

Stage 2 would be unlikely given the small resource and tight tenements. I'd base any valuation off stage 1 production figures until they define some more resource.


----------



## HelloU (9 August 2018)

if spod % is good then the buyers will come anyway (so no real issues there except the lack of control aspect atm - but that will pass in time). 

It is the low % and carbonate peeps that I am getting away from...............


----------



## HelloU (9 August 2018)

and today a little relationship break-up between fiances........each partner always say that they dumped the other........BOM say they have protected shareholders (they own a lot) and so I will stay tucked under their wings. stage 2 ?


----------



## HelloU (4 October 2018)

1st loading of conc soon ......hopefully next week.


----------



## greggles (9 November 2018)

Altura Mining has announced a new binding offtake agreement with GFL International Co., Limited, a wholly owned subsidiary of leading global lithium producer in Ganfeng Lithium. 

The key terms of the agreement are:







This new agreement locks in 100% of planned production from the recently commissioned flagship Altura Lithium operation located at Pilgangoora in Western Australia.

The news has given the AJM share price a well deserved lift after a disappointing 2018 which has seen it decline from 50c to a low of 18c. Now that the company's Altura Lithium operation is up and running and there is a sizeable pre-payment coming from GFL International a lot of risk seems to have been taken out of the equation. With no CR on the horizon the company can get on with the business of lithium mining and hopefully kick some goals for shareholders.

AJM is currently up 28.89% to 23.2c so far today.


----------



## barney (9 November 2018)

Yeah, big shot in the arm for the Co.  They burned a lot of cash last Quarter and only had about $10 million left as a buffer but this deal should make things a lot smoother from here on in.


----------



## Miner (29 January 2019)

Folks
AJM was poising in a good shape recently but what could have tempted the COO to resign abruptly without giving the company option to source his successor in a planned way?
Was it his goal after spending 4 years, lack of performance or something more serious for the stakeholders to know after one month ???

DNH but following


----------



## Smurf1976 (29 August 2019)

Miner said:


> AJM was poising in a good shape recently but what could have tempted the COO to resign abruptly without giving the company option to source his successor in a planned way?



It's not a stock I'm following but I do see that the share price is down more than 50% since your post so there's something not going well presumably?


----------



## barney (30 August 2019)

Smurf1976 said:


> It's not a stock I'm following but I do see that the share price is down more than 50% since your post so there's something not going well presumably?



Prompted me to have a look …. Chinese Co. Shansan increasing their stake to over 19% just recently at 11.2 cents per share. A couple of weeks later its down to 7.4 cents. If Chinese want control, short term SP going down will probably suit their plans

Director AC Buckler and his Co. Shazo Holdings also still own +13% so Top 2 S/H's own 30%  That's a lot of control if they choose to use or combine it


----------



## barney (30 August 2019)

barney said:


> If Chinese want control, short term SP going down will probably suit their plans
> 
> That's a lot of control if they choose to use or combine it




Looks suspiciously like pushing and shoving going on to me. 

Director Buckler is heavily invested in this. I'd like to be a fly on the wall when he and the Shansan boyz chat about their future intentions.

In the short term, rank and file S/H's are under a lot of pressure to let their shares go cheap


----------



## Dona Ferentes (18 July 2020)

lodged 7:13pm Friday 

_Australian-based Civmec Limited today announced its subsidiary Civmec Construction & Engineering Pty Ltd has lodged a writ and statement of claim in the Supreme Court of Western Australia against Altura Lithium Operations Pty Ltd, for the recovery of payment for works undertaken in the delivery of process plant construction and installation works at Altura’s Pilgangoora Lithium Project in Western Australia._


----------



## Dona Ferentes (7 September 2020)

_still suspended_.
last notice was







> .. loan note holders have agreed to defer all payments and waive key covenants under the facility until 31 Oct 2020. This Waiver once again shows strong support from the lending group and will allow Altura to continue evaluating proposals with a primary focus on reducing financing costs.
> As previously announced, the Company has appointed Perth based corporate advisory group Azure Capital to assist the Company on the restructure of its debt arrangements.  Pending a further update on the status of such proposals, the Company requests that its securities remain in suspension.



_must be messy_?


----------



## bux2000 (7 September 2020)

Dona Ferentes said:


> _must be messy_?




Thank you for keeping us posted
 AJM was looking OK for me, held since April.
Time will tell I guess

All the best

bux


----------



## Dona Ferentes (18 October 2020)

Altura Mining is putting the finishing touches on a $150 million-plus equity raising designed to dramatically reduce the company's debt.



> It is understood Altura Mining boss James Brown and his bankers spent part of the weekend shoring up support from a handful of early institutional backers, in an effort to have the deal underwritten and ready to launch this week.




_Altura reckons its Altura Lithium project, located south of Port Hedland, is as good as any in the business thanks to its high quality ore, low cost production and shareholder approved offtake agreement. The group's problem, however, is a debt laden capital structure designed at a time when lithium prices and forecast prices were much higher, which has Altura in breach of its covenants and at the mercy of its lenders_.


----------



## Dona Ferentes (18 October 2020)




----------



## Dona Ferentes (26 October 2020)

> Receivers have been appointed at listed lithium play Altura Mining, throwing its $150 million recapitalisation plans into doubt. The company filed a notice with the corporate regulator on Monday revealing that KordaMentha had been appointed as its receiver, just days before it was slated to launch the heavily discounted recap equity raising.





> Fund manager sources told this column that prior to entering receivership Altura was struggling to get support for the deal, and the terms put to potential investors on the recap proposal weren't favourable enough.
> The company was attempting to raise equity to reduce its hefty debt load from north of $200 million to about $30 million and shore up its balance sheet to ride out a period of low lithium prices.
> It is understood the receivers were appointed by Altura's loan note holders which include sharp-nosed fund managers Castlelake, CarVal, Nomura and Clearwater Capital.



 AFR


----------



## frugal.rock (26 October 2020)

Now, where and why have I heard Clearwater before... and why did it stick in my memory...?


----------



## Dona Ferentes (26 October 2020)

frugal.rock said:


> Now, where and why have I heard Clearwater before... and why did it stick in my memory...?



Note holders. It's almost that we don't need to know more!!


----------



## bux2000 (28 October 2020)

Hi Dona and Frugal,

It would appear the Clearwater Website infers a curtain of separatism. 

I can only presume this is not good omen  for a mere small shareholder.

All the best

bux


----------



## Dona Ferentes (28 October 2020)

bux2000 said:


> Hi Dona and Frugal,
> 
> It would appear the Clearwater Website infers a curtain of separatism.
> 
> I can only presume this is not good omen  for a mere small shareholder.



I had a look at Clearwater today. Nothing screamed _activist_ and in fact little said 'fund manager with a plan'. 

So it left me mystified.  Don't HOLD


----------



## frugal.rock (28 October 2020)

bux2000 said:


> AJM was looking OK for me, held since April.
> Time will tell I guess



Am thankful not to be a holder.
Have personally gone off lithium plays. "a period of low lithium prices"... IMO is set to continue and get worse as late starts actually start.
Oversupply.
I think Tesla are calling for more nickel in so called "lithium" batteries. Would have to think they are at the cutting edge for future requirements.

Best wishes bux2000, I hope you see some of your money again.


----------



## bux2000 (29 October 2020)

Thank you very much for your replies,

The learning process goes on.
 Although tempting species are fraught with danger particularly in these uncertain times.

Thanks again for your time

bux


----------



## peter2 (1 November 2020)

*AJM* is certainly a good reminder to keep your downside exposure (risk) within comfortable limits when trading in the spec sector (low market cap, low daily value traded, unprofitable companies).  This is something that I'm aware of since starting to trade more in the sector. It's another reason to hold more smaller sized positions rather than a few larger sized ones.


----------



## qldfrog (1 November 2020)

peter2 said:


> *AJM* is certainly a good reminder to keep your downside exposure (risk) within comfortable limits when trading in the spec sector (low market cap, low daily value traded, unprofitable companies).  This is something that I'm aware of since starting to trade more in the sector. It's another reason to hold more smaller sized positions rather than a few larger sized ones.



That's 5k lost for me.bought via 1 system so not that easy to prevent happening.and will hang forever ...
With the coming week , might become quite relative


----------



## bux2000 (1 November 2020)

Thank you for your comments nice to know i am not on my own,

It is easy to become a little cocky when everything looks like it is going well ........ hindsight that wonderful thing.
I have been looking to see how I could have done better and been more diligent but I didn't see anything amiss with the chart but should have paid more attention to the fundamentals.

As I said I have learned a  lesson  losing hard earned always makes it real.

Thank for your time

bux





Sorry stuffed up the  the chart


----------



## qldfrog (2 November 2020)

bux2000 said:


> Thank you for your comments nice to know i am not on my own,
> 
> It is easy to become a little cocky when everything looks like it is going well ........ hindsight that wonderful thing.
> I have been looking to see how I could have done better and been more diligent but I didn't see anything amiss with the chart but should have paid more attention to the fundamentals.
> ...



have to say that looking at the chart, nothing really suspicious even after the facts..
and if we want to trade profitable companies, most US tech would still be off the portfolio even Tesla.if trading was easy...


----------



## qldfrog (6 March 2021)

Now changed status yesterday
If we could at least sell shares for 0 and have it drlisted...


----------



## bux2000 (16 April 2021)

Anyone got any thoughts about a new CEO being appointed and new board assembled for AJM.

Thanks

bux


----------



## bux2000 (16 April 2021)

When it appears too good to be true...... it generally is  

bux


----------



## qldfrog (16 April 2021)

bux2000 said:


> When it appears too good to be true...... it generally is
> 
> bux



Would be keen to have it relisted or delisted asap.ideally before eofy


----------



## bux2000 (19 April 2021)

_Well perhaps generally was the right word ........ I am no expert but it might appear to have been  what could only be described as a hostile Corporate Raid  stripping out the major asset and leaving the Shareholders out of pocket and Management to rebuild from the bones. PLS being the major beneficiary. IMHO_










						Altura Mining (ASX:AJM) enters receivership, leaves investors in the lurch
					

The future of Altura Mining (ASX:AJM) has been thrown into confusion after the struggling lithium miner entered into receivership earlier this week.




					themarketherald.com.au
				













						Altura Mining (ASX:AJM) taps new CEO
					

Altura Mining (ASX:AJM) has appointed Alex Cheeseman as the company’s new Chief Executive Officer, effective immediately.




					themarketherald.com.au
				




_*And today*_

ASX ANNOUNCEMENT | 19 April 2021 LETTER TO SHAREHOLDERS Dear Shareholder, As you may now be aware Altura Mining Limited (ASX:AJM) (“Altura” or “the Company”) is no longer under Receivership or external Administration and control of the Company has been returned to the Board of Directors. Your Directors are now again free to communicate directly with shareholders. It has been a very difficult time for all since the events of 26 October 2020 that were initiated by the former Senior Secured Loan Note Holders (“Note Holders”) of Altura. Their actions resulted in the initiation of the Receivership and Administration process. A brief outline of the events is below. Altura was advised on the 26 October 2020 that its Note Holders had appointed Richard Tucker and John Bumbak of Korda Mentha as Receivers and Managers of the Company and had also appointed Cor Cordis as Administrators. The Board of Altura considered this an extremely disappointing outcome and a shortsighted move by the Loan Note Holders. Positive progress had been made in the weeks leading up to the 26 October 2020 towards a recapitalisation that would have resulted in a significant paydown of the existing debt and exposure to potential upside for both the Note Holders and equity shareholders. Under the recapitalisation proposal, the Note Holders would not have had any part of the monies owing to them compromised. The Note Holders, who had previously been supportive and had provided a debt standstill agreement until 31 October 2020, had agreed in principle to the recapitalisation plan. Altura’s management team and Board of Directors had no reason to consider any other course of action other than the recapitalisation process that had been in development for some months. The Note Holders removed their support late on Sunday, 25 October 2020, without any explanation or notice to the Company. Indeed, draft documentation to affect the recapitalisation process was largely, if not fully, agreed between the Company and the Note Holders as of Sunday, 25 October 2020. The recapitalisation plan was underpinned by a proposed substantial equity raising, supported by an existing offtake partner, a major player in the international lithium market. Furthermore, the raising was to be fully underwritten by a credible and well-known participant in the Australian equity market on normal industry terms. The Note Holders were to receive repayment of a significant portion of debt and attractive terms to convert a small portion of debt to equity. There was also a high likelihood that any remaining debt would have been repaid earlier than the August 2023 maturity date. The Board and all its key advisers were confident that the proposed recapitalisation plan would have resulted in a satisfactory outcome for all stakeholders. The Board was shocked and disappointed by the behaviour of the Note Holders and their treatment of the Company, its staff and shareholders. Since the initiation of the Receivership process the Directors of Altura have been actively working on a course of action that would result in returning the Company to the shareholders. This process has involved the Directors funding a proposal to the creditors of Altura Mining Limited (as at 26 October 2020) whereby they would be paid up to 100% of their outstanding debts. The Board’s proposed Deed of Company Altura Mining Limited – ASX Announcement –19 April 2021 Page 2 of 2 Arrangement (DOCA) for Altura Mining Limited was accepted on 5 March 2020. The actions of the Board resulted in the return of control of the company to the directors and the provision of sufficient funding to recommence corporate operations. The immediate focus is working with the ASX to have the Company’s suspension lifted and its shares requoted on the ASX and able to be traded. The alternative to the Board’s DOCA was most likely the liquidation of Altura with very little or no value to shareholders. In order to allow any submission to the ASX for re-quotation there remains significant corporate work including release of 30 June 2020 Annual and 31 December 2020 Half Year Accounts, 30 June 2020 Annual Report, Quarterly Activities and Cashflow Reports and holding an Annual General Meeting. The task to complete and issue these retrospective compliance requirements has already commenced. We are fortunate to retain the support of some key Altura team members even after their employment was terminated by the Receivers. As announced last week we have appointed Alex Cheeseman as the new Chief Executive Officer of Altura and expect to confirm further key appointments in the very near future. Like any progressive company it is vital to have continuity of role custodians with an aligned view of what is required in order to deliver value to shareholders. Our team have commenced evaluation of various project options and are formulating our plan to move forward in the rebuilding of the Company. The Company is reviewing pre-existing project opportunities both in Australia and Internationally and retaining a focus on the battery materials sector. During our time as a key supplier of battery materials from 2018 - 2020 we have developed strong relationships with significant global industry participants throughout the entire supply chain, many of which have reinforced their support for Altura in rebuilding the Company. Your Board understands the disappointment felt by shareholders at the actions taken by the former debt holders which resulted in the loss of our key lithium asset. As shareholders ourselves we were all personally affected. We will however look forward and focus on recovering value for shareholders and sincerely hope you are all able to remain with us and support in the re-birth of what we hope will again become a great Australian company. This announcement has been authorised for release by the Board of Altura Mining Limited.

*All the best*

_*bux*_


----------



## bux2000 (15 September 2021)

The post above indicated that I was a bit grumpy at the time


But I was wondering what happens in this case. It appears the Company still has assets and the previous directors make announcements.... a bit...... but what are the realistic chances of this thing ever flying again. 

Thanks

bux


----------



## bux2000 (15 September 2021)

Sorry it is me that should get with the program


----------



## System (20 December 2021)

On December 20th, 2021, Altura Mining Limited (AJM) changed its name and ASX code to Morella Corporation Limited (1MC).


----------



## bux2000 (3 January 2022)

I have had a bit of a history with (AJM) now *1MC *as you can see above.

I am not sure how it all went down when PLS acquired some of the AJM assets, which were about to start producing but that is history as they say.

It appears to be the same guys running this Company and I am sure they have learnt a thing or two on their journey so I for one am prepared to give them another chance.

bux


----------



## frugal.rock (20 January 2022)

So what gives Bux?
🧐

ASX didn't even pause trade...
A please explain after hours says Sgt Schultz...


----------



## bux2000 (21 January 2022)

frugal.rock said:


> So what gives Bux?
> 🧐




I am not sure Frugal.......I am in the dark like you. 
Looks too good to be true but I guess time will tell.

All the best

bux


----------



## basilio (21 January 2022)

But what a great result for the January comp!   Well done.

It is a bit amazing that a share can jump 400% in a few weeks and double in less than a week and.... absolutely no explanation.

But clearly a great run for the current punters.


----------



## bux2000 (31 January 2022)

I have entered *1MC* again for the February Stock Picking Competition for the same reasons as above.
It appears that it will be a very volatile month so I with need my luck to hold   as with all these monthly competitions they are decided by pure luck.

bux


----------



## debtfree (1 May 2022)

I've picked *1MC* in the May Monthly Tipping Comp. S/T EMAs just starting to pass L/T EMAs, volume and price have been moving in the right direction since the March run up.


----------



## bux2000 (30 June 2022)

I have decided to try 1MC for the July Stock Picking competition. It was good to me in the past.
At the moment there appears to be so many charts that are being struck down by this Bear Market.
I just hope I can draw on a bit of the Luck of the Irish.

bux


----------



## Dona Ferentes (10 July 2022)

Is 1MC changing focus to WA, or just another early-days play? Now 2c.
(Morella is an_ exploration and resource development company focused on lithium and battery minerals. Morella is currently engaged in exploration and development activities with projects strategically located, in Tier 1 mining jurisdictions in both Australia and the United States of America_.)

_Lithium targets identified at Mt Edon project in Western Australia _

53 pegmatite outcrops mapped within Mt Edon Project area
Rock chip assay results indicate lithium potential
Geophysics program planned to delineate future drilling targets


----------



## bux2000 (10 July 2022)

It is Sunday afternoon with little to think about and please don't be offended but
κατάσκοπος​








						What does κατάσκοπος (katáskopos) mean in Greek?
					

English words for κατάσκοπος include spy, scout, stool pigeon and spied. Find more Greek words at wordhippo.com!




					www.wordhippo.com
				




You didn't used to be a taxi driver in Sydney's western suburbs ??  

bux


----------



## Dona Ferentes (10 July 2022)

bux2000 said:


> It is Sunday afternoon with little to think about and please don't be offended but
> κατάσκοπος​
> 
> 
> ...



used once in the book of Joshua, for *Rahab *, in the _koine _translations, to describe the spies in the house; literally down (_Kata_) and looking (_skopus_). Modern sense would be _overviewer  _or _overlooker (_or more sinister)


----------



## bux2000 (10 July 2022)

Dona Ferentes said:


> used once in the book of Joshua, for *Rahab *, in the _koine _translations, to describe the spies in the house; literally down (_Kata_) and looking (_skopus_). Modern sense would be _overviewer _or _overlooker (_or more sinister)




Well that does show my complete ignorance......and how  my nose was pressed to the wall behind the door when educations were dished out........however that doesn't mean I can't appreciate all your hard work.  🤔

Please keep it coming

All the best
bux


----------



## barney (11 August 2022)

Posted this Chart over on the "Possibles/Probables" Thread  where the recent Volume was an "early warning"

I didnt back it but I thought it could have some legs after the Volume increase back in late July.    +40% today. Nice if you can find them!


----------



## debtfree (11 August 2022)

Not a word from me @bux2000 🤐


----------



## barney (11 August 2022)

debtfree said:


> Not a word from me @bux2000 🤐



Lol ..... Just had a quick squiz back through the Thread and see that you Mr @debtfree and @bux2000  were "suspecting" something a couple of months back on this little Speccy

Well done lads on your early contemplations  I hope you may have snagged a few bucks on the recent price action?

As I have said before;   "So many Stocks, so little time"

Spec gold is out there, but finding the nuggets is often not an easy task.


----------



## bux2000 (11 August 2022)

debtfree said:


> Not a word from me @bux2000 🤐




It's alright pulling out  the nice guy card now ............isn't it   🤔 

bux


----------



## bux2000 (11 August 2022)

But on a serious note @barney,  AJM (1MC) and I go way back to when PLS ended up with the company silver as it were, so it is nice to see some of my hard earned back......... I was a bit grumpy back then..........maybe somethings never change 

Never mind all is forgiven........ well most people anyway  

I have picked up a bit of compensation from PLS along way too.......... once I got used to the idea.

AJM was about to start production when all the drama unfolded so it is my understanding most of the same management is still in place so at least they may have worked out how to get things done. IMHO

All my very best to everyone

bux


----------



## frugal.rock (9 September 2022)

The question is, will the SP go on it with it from here? I think it will.
I'm looking at this as the baby, Sayona is the big brother and Piedmont the big daddy.


----------



## barney (9 September 2022)

frugal.rock said:


> I'm looking at this as the baby, Sayona is the big brother and Piedmont the big daddy.



All you need is the big Mumma and a good looking Sister Rock and you have it made  PS I found Mum for you  (Thank me later )





SP sneaking up on good but not too high Volume has to be positive one would think. Need that little blockade at 029 to get chewed at of course.


----------



## frugal.rock (9 September 2022)

barney said:


> PS I found Mum for you (Thank me later )



Gee Barney, I wasn't looking for your Mum... 🤭
Yo must be happy you found her, I didn't know she was missing. 🤪


----------



## barney (9 September 2022)

frugal.rock said:


> Gee Barney, I wasn't looking for your Mum... 🤭
> Yo must be happy you found her, I didn't know she was missing. 🤪



Be nice. She's been spending some time at the farm  ...... (in the stables) .... Someone left the gate open this week and she escaped 

PS Thats not really my Mum ..... Its actually my Sister


----------



## bux2000 (10 September 2022)

I am a bit slow but now have joined the dots above your name @barney  ......there is Mum........and what is so obvious.......... You with Your twin Sister...........

bux


----------



## frugal.rock (13 October 2022)

Moving along... 🤨

3 October 2022 
Geophysics Exploration underway at North Big Smoky 

Controlled-source Audio-frequency Magnetotellurics (CSAMT) has commenced at North Big Smoky (NBS) 

Geophysics to build on recent soil sampling program 

CSAMT work ahead of schedule 

Overview  
Morella Corporation Limited (ASX: 1MC “Morella” or “the Company”) is pleased to advise that exploration activities at North Big Smoky are progressing with the view to fast tracking the understanding of the deposit.  
Following the soil sampling completed in September (refer to ASX Announcement First on-ground  exploration works completed at North Big Smoky released 20 September 2022) Morella has engaged a geophysics expert to carry out a single CSAMT line at NBS. This was scheduled for November but has been accelerated and will now be completed in October. 

CSAMT 
The single CSAMT line will allow Morella to better understand the areas of higher conductivity and be able to develop a cross sectional understanding through the deposit that is aligned with the one of the soil sample lines (See Figure1). 
CSAMT provides good near surface resolution and depending on local ground conductivity can also be 
effective in the 500m-1,000m depth of investigation. 
The combination of soil samples and the CSAMT results will guide the company in the definition of the next phase of exploration. 
Morella MD James Brown said:  
“Building on the initial exploration methods and results at Fish Lake Valley we are progressing the exploration of North Big Smoky as a priority. North Big Smoky is a strategic asset of Morella and its proximity to the companies Fish Lake Valley project provides an exciting opportunity to develop a regional hub. By developing the two deposits together we can maximise the use of our resources and contractors when available while reducing costs.”  

“Our partners at Lithium Corporation have been extremely helpful and we have formed a strong  partnership which has supported our rapid evaluation programs in Nevada, we look forward to the next phases.”


----------



## frugal.rock (26 October 2022)

ASX Announcement 
25 October 2022 

Direct Lithium Extraction Study confirms  highly efficient lithium concentrating process 
Ion exchange Media proves to be highly efficient for lithium extraction from brine  contained within Fish Lake Valley 
Lithium concentrations increased over 600% in a two-hour processing cycle with an extraction efficiency up to 95%. 
Positive results support the study’s extension and planning for pilot-scale development 

Drill program at Fish Lake Valley expected in Late Q4 2022 

Overview  
Morella Corporation Limited (ASX: 1MC “Morella” or “the Company”) is pleased to provide an update on the Direct Lithium Extraction (DLE) study being completed by Recion Technologies (“Recion”) at  
Recion’s laboratory in Edmonton, Canada. (Refer ASX Announcement Direct Lithium Extraction Testwork  
Begins released 14 June 2022) 

The study is aimed at providing a preliminary assessment of lithium  
extraction and underlying economics using Recion’s technology solution and Fish Lake Valley (FLV) brine.  
An interim progress report from Recion has provided positive early-stage indications of successful lithium concentration using Recion’s ion exchange media (Media) process and FLV brine.  
The brine sample was obtained from near surface of the playa at FLV and was expected to be highly diluted from surface water, however the testing process focussed on lithium extraction from the brine type or signature of the brine. As part of the next phase of DLE testing Morella will provide brine samples from reservoirs identified in the Passive Seismic and MT surveys completed earlier in 2022. (Refer ASX  
announcement Geophysical Exploration Update for Fish Lake Valley Lithium Project released on 22 February 2022) 

The report has identified that two hours of absorption is sufficient to extract lithium from the brine with extraction efficiency up to 95% using an absorption column configuration. Absorption column configuration has been used in water treatment operations and is known to be scalable using standard/commercially available equipment.  
Extended testing saw high lithium recoveries, resulting in lithium concentration levels over 600%.


----------



## jackish (22 November 2022)

August it went from .013 to .026 in 8 days today it's sitting at .017 0.018 do you say this is it for 2022???


----------



## craigj (1 January 2023)

sudden drop on chart in past month '-  looks oversold possible short term rebound


----------



## jackish (1 January 2023)

I say buy in the dip as they have diluted more shares
Nth big smokey....
.012 last close should recover soon


----------

