# ACS - Accent Resources



## YOUNG_TRADER (5 January 2007)

Hi guys

Nothing special here, I just had a look because it had fallen to an all time low
*
Shares on Issue*
40m
28m 20c 30/9/09 Opies

*Mkt Cap at 11c = $4.4m*


*
Projects*
*
Mount Gibson*
Earning 80% from MWE,
Very crap Magnite grade Iron Ore ie 35%
Trying to target a very large scale low grade Magnite style deposit

*
Noresman*
100% Gold Project
Near old CRS ground, drilling suggests grades of 1.5g/t - 2g/t Au
But target size for now is only around 65k oz's Au YUCK!


Don't ask me why I'm posting on this, as I said, I researched the stock because today it fell to all time low, so thought I'd post up my findings,

Perhaps its at an all time low for a reason ie its sh_it!


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## Sean K (5 January 2007)

Norseman will be upgraded by the look of it after the recent drill results, but for me to be really interested it'd have to have the potential for 2m + oz au.....Not sure if it can get there, but maybe that market cap, and all time low make it interesting....

Noted on their website a buy/outperform from Aequs (who are they   ) when it was at $0.18, based more on the fe potential at Mt Gibson. 

Looks like they're trying to court the Chinese and Koreans to me....and a couple of the directors are an Oh and a Peng......

Have about $4m in the kitty......

Are you bottom picking now YT? You know what they say.......

Chart is pretty scarey.   

Scarey website too:

www.accentresources.com.au


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## YOUNG_TRADER (5 January 2007)

kennas said:
			
		

> couple of the directors are an Oh and a Peng......
> 
> Are you bottom picking now YT? You know what they say.......
> 
> ...




lol, in stiches, 

On a serious note I didn't really dig that deep, now I'm gonna take a look at their website and see this report.

Thanks K


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## YOUNG_TRADER (16 March 2007)

Another ann re the Magnetite potential of the Mt Gibson project,

I have attached some images to show just how proximate ACS is working to Mt Gibsons huge Magnetite project

Positives
- Recent work shows good potential for a similar large tonnage magnetie deposit next door to MGX's project

- Chinese interest in ACS

- Mkt cap of under $5m offers huge leverage!


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## GRTRADER (16 March 2007)

The announcement doesnt seem to have affected SP yet though but it might be a good one to watch.


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## YOUNG_TRADER (22 March 2007)

Strong rise on the ann of a newly discovered Vanadium district in W.A. see ann


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## YOUNG_TRADER (22 March 2007)

Should add mkt cap still only about $6m


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## GRTRADER (22 March 2007)

i knew i should have bought more


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## YOUNG_TRADER (16 May 2007)

Something maybe brewing over at Ascent,

A few placements recently, broker support/coverage

Some changes in substantial holding, 

One to keep an eye on


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## Fool (16 May 2007)

That is one scary looking graph.

I will keep an eye on this one but I think I will keep my money well away from it for the moment.


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## Sean K (18 July 2007)

kennas said:


> Noted on their website a buy/outperform from Aequs (who are they   ) when it was at $0.18, based more on the fe potential at Mt Gibson.
> 
> Looks like they're trying to court the Chinese and Koreans to me....and a couple of the directors are an Oh and a Peng......
> 
> ...



Chart isn't as scarey now, looking to break up on longer term picture. Something's up. 

Their web site is still cra@p!! How do you invest in a company that can't get a web site right!! 

I suppose the thing that still interests me is the fe project, and iron is as irrational as uranium was a year ago right now.....


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## YOUNG_TRADER (24 July 2007)

Hey guys,

Here's my next Iron Ore play,

Whats funny is how uneducated/ignorant I was back in Jan re Magnetite, I didn't even know what it was thus 35% = crap grade for me, lol now I know anything above 30% is good for magnetite operations,

The big thing to remember here is that the issued shares were recently doubled by a placement to brokers etc at 12c, also the share price has run up very strong in the past 2 weeks,

It could either be a pump and dump by brokers - Which I  doubt given the upside potential of the deposit

Or brokers accumulating with a research note or some significant news soon, which I think

Anyway the deposits real which is what I focus on



*ACS*​
*
Mkt Structure*
*
Shares*
100m + 30m 20c Opies 30/9/09

Mkt Cap @ 20c = $26m Current
Mkt Cap @ 30c = $39m Target 1
Mkt Cap @ 50c = $65m Target 2

*
Cash*
$6m + $6m when opies exercised therefore = *$12m* 

*
Placement*
It should be noted that 55m shares were placed at 12c recently, these shares from what I understand it were placed to Sophisticated Investors who are very unlikely to stag a profit, but may do so nevertheless,

Thus caution is advised when buying, the shares come one Friday 27th July, so it will be intersting to see what they do,


*
Projects*

*
Mount Gibson * _Iron Ore, 80% maybe more, Mid West W.A. 5km's from MGX's operations_
Although there is no JORC yet, drilling so far has shown 20m -80m thick 30% - 40% Fe Magnetite Ore from 16m - 30m down

From these drilling results, the potential strike length of 8km's and talking to the company, its clear that ACS have a very good chance fo firming up minimum 100Mt@30-35% Fe

Now adjacent to ACS's Mount Gibson project is Extension Hill, which was MGX's early Magnetite discovery of 240Mt's (unsure of grade) The Chinese (Sincom Investments Ltd) bought this off MGX. The problem is Extension Hill is only 240Mt's and minimum a standalone operation of Magnetite needs 400Mt's, thus you can see why ACS's Mount Gibson project is vital to Sincom.

It is clear the companies intention is to firm up a 100Mt resource and sell it to the Chinese (Sincom Investments Ltd).

Depending on the end result, I would expet a 100Mt@35%Fe deposit to fetch close to $50m = 50c ACS


While the project still doesn't have a JORC, I'm betting it will be a matter of time.


*
Katanning* _Ferro Vanadium, Up to 90%, W.A._
This project is an early stage AXO Aurox Balla Balla, its Ferro Vanadium  and covers an Area of 500km² so could b very very large, 

However it is still very early days,

Grab samples have yielded some significant results so far though

*
Noresman* _Gold, 100%, W.A._
*JORC 65k oz's Gold (grades 1.5 g/t - 2g/t Au) * This deposit is too small to justify any sort of stand alone operation, however Toll Treatment of the Ore could net $5m+


*
Summary*

*- 100Mt Resource at Mt Gibson should be worth 50c to ACS
- Chinese interest in Mt Gibson as they desperatley need to get more Ore to make Extension Hill a viable project
- Katananning looks promissing
- Very large placement done recently at 12c
- Share price has run hard in the last few weeks,
*

Even though there was such a large placement done at 12c, I firmly believe that the recievers are in it for the Chinese deal and are unlikely to stag a profit, so I bought shares on Friday at 22c-23c I also bought options at 10c-11c,

Cheers


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## Sean K (24 July 2007)

Thanks YT. 

You're right, has run pretty hard and it's hard to call on what happens when the placement shares hit the market. I tend to agree that 'sophisticated' investors (I hate them - it's just prejudiced ) will probably hold, or most will. They are also probably more in the know of what the company is up to. (hmmm, this could be a negative too 

I'm going to have a closer look at the Vanadium. I think the iron is a monty due to it's location, initial drilling, and stated claim to sell it off to 'someone'. Just need to shore up 100 Mtn ish. 

Cheers.


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## 56gsa (24 July 2007)

YOUNG_TRADER said:


> Whats funny is how uneducated/ignorant I was back in Jan re Magnetite, I didn't even know what it was thus 35% = crap grade for me, lol now I know anything above 30% is good for magnetite operations,




Interesting links here re the Mt Gibson deposit and could be enough to get the Chinese on board

Interested in your positive view re magnetite YT - as far as I know the only magnetite operation in Oz is Savage River in tassie and that has grades of 50%+ ...  magnetite will become viable as global haematite resources dwindle but i can't see that happening in the ST... the stage before that is to do as GBG have done and look to process in China - but this is still to become operational - are these the sorts of operations you see potential YT?


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## Sean K (24 July 2007)

kennas said:


> I'm going to have a closer look at the Vanadium.



This is under a joint project with ABM Resources who seem to be preoccupied with several other projects at the moment. The Vanadium wasn't even mentioned in their last quarterly, or their web site!   Where did you find the info YT?


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## YOUNG_TRADER (24 July 2007)

kennas said:


> This is under a joint project with ABM Resources who seem to be preoccupied with several other projects at the moment. The Vanadium wasn't even mentioned in their last quarterly, or their web site!   Where did you find the info YT?




Check ACS's announcements Re Vanadium,

Also ABM aren't interested in this project, thus why ACS can earn 90% in it,

There are some links to AXO although I can't verify this


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## UPKA (24 July 2007)

_"The problem is Extension Hill is only 240Mt's and minimum a standalone operation of Magnetite needs 400Mt's, thus you can see why ACS's Mount Gibson project is vital to Sincom."_

Hey YT, js wondering where did u get that 400Mt figure from?


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## surfingman (24 July 2007)

56gsa said:


> As far as I know the only magnetite operation in Oz is Savage River in tassie and that has grades of 50%+ ...  magnetite will become viable as global haematite resources dwindle but i can't see that happening in the ST...




I have been looking into this a small amount but still learning as fast as possible as I'm watching a company looking to develop a Magnetite project, one steel has a made their Hematite plant at Whyalla a Magnetite feed operation back in 2007.

"Converts Whyalla Steelworks to magnetite feed which frees the hematite ore
reserve for accelerated sale. It is planned to increase annual sales from one
million tonnes up to a maximum of four million tonnes. Sales at this level could
be expected for approximately 10 years"
http://www.onesteel.com/images/db_images/news/Project Magnet 23 May 2005.pdf
http://www.ferret.com.au/articles/20/0c030120.asp

This isn't a purely magnetite operation its mixed with hematite to create the final pellet is that correct? 

I have found Gindalbie Metals will come online at 8 mt/annum Magnetite production by 2010, slide 4
http://www.gindalbie.com.au/Investor+Relations/Presentations//Downloads_GetFile.aspx?id=133

Still researching just interested in your thoughts.


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## YOUNG_TRADER (24 July 2007)

I spoke with the company,

My advice is give the company a call and chat to the management, they just ooze confidence that they're going to sell the Mount Gibson deposit


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## YOUNG_TRADER (24 July 2007)

56gsa said:


> Interesting links here re the Mt Gibson deposit and could be enough to get the Chinese on board
> 
> Interested in your positive view re magnetite YT - as far as I know the only magnetite operation in Oz is Savage River in tassie and that has grades of 50%+ ...  magnetite will become viable as global haematite resources dwindle but i can't see that happening in the ST... the stage before that is to do as GBG have done and look to process in China - but this is still to become operational - are these the sorts of operations you see potential YT?




I don't think it matters here 56gsa

You see I'm 100% positive that the Chinese (Sincom) whou bought MGX's deposit are like vultures waiting for ACS to fimr up its JORC and pounce,

So like I said, its a matter of when imo not if it gets bought


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## INORE (25 July 2007)

25 July 2007
The Announcements Office
Australian Stock Exchange Limited

Results of Test Work at Mt Gibson
Please find attached a Media/Press Release detailing test results of drill samples at the
company’s Mt Gibson project.
Yours faithfully
Ranko Matic
Company Secretary
MEDIA/PRESS RELEASE
HIGHLIGHTS
VERY GOOD TEST RESULTS OF DRILL SAMPLES WITH
MAGNETITE WEIGHT RECOVERY>45% WHICH IS HIGHER
THAN MOST PILBARA AND MIDWEST PROJECTS GIVES
ENCOURAGEMENT FOR FURTHER DRILLING AND
ESTABLISHMENT OF A MAGNETITE RESOURCE DEPOSIT
AT MAGNETITE RANGE PROSPECT , MT GIBSON (ACCENT
RESOURCES NL– 80%, MAWSON WEST LTD – 20% )


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## YOUNG_TRADER (25 July 2007)

With 10kms of strike and avg hits of 40m I think that they will quiet easily get the 100Mt's, but more realisticly 200Mt's

Shares appear to be falling back, I bought at 23c and will look to buy more above 20c


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## wigaz (25 July 2007)

Hey Guys,
I bought some ACS about a week ago. Liked the look of it. Anyway more to the point: I am just curious about you opinions on why the SP went down today after what I thought was a very positive announcement? Is there something I've missed?

Though I'm not woried I sure am curious to see why its come down, and on reasonably high volume ($200K).

Cheers,
W


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## UPKA (25 July 2007)

wigaz said:


> Hey Guys,
> I bought some ACS about a week ago. Liked the look of it. Anyway more to the point: I am just curious about you opinions on why the SP went down today after what I thought was a very positive announcement? Is there something I've missed?
> 
> Though I'm not woried I sure am curious to see why its come down, and on reasonably high volume ($200K).
> ...




alot of ppl r sitting on big profits if they bought in last mth or prior, and the market went down today, prob got a few ppl scared which lead to the sell down. OR may be the current annoucement is already priced in from few days ago..


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## kromey (25 July 2007)

wigaz said:


> Hey Guys,
> I bought some ACS about a week ago. Liked the look of it. Anyway more to the point: I am just curious about you opinions on why the SP went down today after what I thought was a very positive announcement? Is there something I've missed?
> 
> Though I'm not woried I sure am curious to see why its come down, and on reasonably high volume ($200K).
> ...



  The 12c placement shares will be tradeable from Friday could be a bit of a concern. Just thinking back to WMT 21c placement when they started trading price fell from high 30's to 16.5c before recovering.


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## Sean K (26 July 2007)

kromey said:


> The 12c placement shares will be tradeable from Friday could be a bit of a concern. Just thinking back to WMT 21c placement when they started trading price fell from high 30's to 16.5c before recovering.



They didn't fall this much in one day kromey, it happened over weeks I thought, and I thought that was related to the stock being overvalued and a lack of news, so I don't think there's any need to immediately panick. LHG sp dropped a few % when the rights issue was announced, but recovered slightly but didn't trade anywhere near the issue price. You would expect a few to take a stag profit, but if the stock is that good, others will take the opportunity to buy more, perhaps. Will be interesting to watch


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## toc_bat (26 July 2007)

YOUNG_TRADER said:


> With 10kms of strike and avg hits of 40m I think that they will quiet easily get the 100Mt's, but more realisticly 200Mt's
> 
> Shares appear to be falling back, I bought at 23c and will look to buy more above 20c




Hi YT, i am a bit intrigued by your statement, anyway im only asking to try to learn, when you say above 20c, do you mean at 20c? anyway im just wondering out loud to try to learn a few things, as since it is at 26c now does that mean you are currently buying?or are you saying it maydrop below 20c and if it starts to head back above thats when you will buy, questions questions, sorry, anyway thanks for all your activity but im just worried that youll be such a seriously wealthy man soon you will retire and leave bloodsuckers like me with nothing to feed of but our meagre abilities, ok see ya


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## greggy (26 July 2007)

YOUNG_TRADER said:


> With 10kms of strike and avg hits of 40m I think that they will quiet easily get the 100Mt's, but more realisticly 200Mt's
> 
> Shares appear to be falling back, I bought at 23c and will look to buy more above 20c



Hi YT,

ACS looks very interesting. Iron ore continues to be very hot.  ACS is also now cashed up following its recent placement. Thanks for all the info.
DYOR


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## Sean K (26 July 2007)

toc_bat said:


> Hi YT, i am a bit intrigued by your statement, anyway im only asking to try to learn, when you say above 20c, do you mean at 20c?



On any inevitable pullback you expect a stock to retreat to around established support levels to consolidate. (sometimes they don't of course) Weak hands and day traders jump ship, while investors accumulate, or new investors jump on.

My current support lines are shown on this chart.

Good to see volume dropping off during the consolidation.


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## KIWIKARLOS (26 July 2007)

Im very surprised that the ann these guys made the other day didn't give it upwards momentum. The news was very good, I guess we will have to wait for more drilling samples to come back but if they have only started drilling now it could be 6-8 weeks before we get more info back on the project?

Any thoughts on a predicted timeline of milestones / events ?


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## YOUNG_TRADER (26 July 2007)

toc_bat said:


> Hi YT, i am a bit intrigued by your statement, anyway im only asking to try to learn, when you say above 20c, do you mean at 20c? anyway im just wondering out loud to try to learn a few things, as since it is at 26c now does that mean you are currently buying?or are you saying it maydrop below 20c and if it starts to head back above thats when you will buy, questions questions, sorry, anyway thanks for all your activity but im just worried that youll be such a seriously wealthy man soon you will retire and leave bloodsuckers like me with nothing to feed of but our meagre abilities, ok see ya




Hey Toc,

I will look to buy more around say 20c-22c, 

I too will wait to see what the brokers do, as I said this is a risk, but I doubt a big one as from what I understand it the shares were placed to people close to the company who I would assume know the value of Mt Gibson project and hence aren't looking to Stag a short term profit

As I said, once 100Mt's is firmed up I expect 40c-50c because of the fact that we know the company will sell the project to the Chinese

Cheers


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## Bushman (26 July 2007)

YOUNG_TRADER said:


> Hey Toc,
> 
> I will look to buy more around say 20c-22c,
> 
> ...




Just a quick question - is the Chinese (Hong Kong) investor you quote 'Sincom' or 'Sinom'? Doing some research on PSP and I have Sinom on their share registry owning 3% of the issued shares. PSP has some prospective ground in the Mt Gibson vicinity. Wondering if it is a similar type of play to the one you describe in this thread. I found an internet article stating that *Sinom* bought the Mt Gibson Ext Hill magnetite project from MGX in 2003.

Could not find a Top 20 for this one. Anyone know the composition of the Top 20 for ACS?


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## YOUNG_TRADER (27 July 2007)

kromey said:


> The 12c placement shares will be tradeable from Friday could be a bit of a concern. Just thinking back to WMT 21c placement when they started trading price fell from high 30's to 16.5c before recovering.




Well the 50m broker shares placed at 12c came on today and they don't look to be selling, in fact on such a bad day, the buys have really stacked up on ACS,

Interesting..............

I tried to grab that 22c seller but was too slow,

If we don't see any mass selling next week I think its clear the 

1. The Brokers aren't selling 

2. They may even be accumulating more, based on the strong buy depth today


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## kromey (30 July 2007)

YOUNG_TRADER said:


> Well the 50m broker shares placed at 12c came on today and they don't look to be selling, in fact on such a bad day, the buys have really stacked up on ACS,
> 
> Interesting..............
> 
> ...



Hi YT are you sure the placement shares came on last friday i was just reading an announcement that came out today regarding this.


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## YOUNG_TRADER (30 July 2007)

Nope, they were alloted Friday,

Today's ann just confirmed the placement and allotment,

Notice how so far the SP has stayed flat,

Be interesting  to watch the SP over the next week,

If there's no clear selling by brokers then I will become more and more bullish in my assumption that there is real long term value here that the placees certainly knew about and thus aren't stagging a quick profit,

Last I checked there was 800k to 1m buying above 20c

Will watch SP closely,


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## tibby (31 July 2007)

YOUNG_TRADER said:


> Nope, they were alloted Friday,
> 
> Today's ann just confirmed the placement and allotment,
> 
> ...




Hi YT,

I too am watching this one closely...I see that there are still around 1mil on buying side above 20c but notice it is very thin after 20.5c (700,000 shares of that 1mil is at 20c). Placement held up, didnt get mass selling from the sophisticated buyers that some had eluded too. US markets bounced around last night and finished in the green.....Im watching it closely as I cant see a trend, no upward/downward movement, sellers and buyers there but thin, volume down...and after the stock has run hard over the last month. 

What do others think? Predictions on SP surge? ...are we waiting to see some strength in the US markets over the next few weeks before we see some real buying on ACS??
Just interested to see where others sit with ACS. Thoughts anyone??


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## Busylion (31 July 2007)

Bushman said:


> Just a quick question - is the Chinese (Hong Kong) investor you quote 'Sincom' or 'Sinom'? Doing some research on PSP and I have Sinom on their share registry owning 3% of the issued shares. PSP has some prospective ground in the Mt Gibson vicinity. Wondering if it is a similar type of play to the one you describe in this thread. I found an internet article stating that *Sinom* bought the Mt Gibson Ext Hill magnetite project from MGX in 2003.
> 
> Could not find a Top 20 for this one. Anyone know the composition of the Top 20 for ACS?




Hi Bushman,
it is Sinom.  The same Sinom is also a top shareholder (& a director) in RMI.

for the top 20, you could find the latest one (old one) in the 2006 Annual report. I expect ACS will relesae the top 20 after the 50m placement or at the very latest when they release the new A/R.


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## YOUNG_TRADER (31 July 2007)

Well looks like there's some selling today, some real selling,

So I am going to stand back a bit for now and wait before I buy more,

I am still happily holidng my original purchase as there is serious value to be had at Mt Gibson



YOUNG_TRADER said:


> I too will wait to see what the brokers do, as I said this is a risk, but I doubt a big one as from what I understand it the shares were placed to people close to the company who I would assume know the value of Mt Gibson project and hence aren't looking to Stag a short term profit
> 
> As I said, once 100Mt's is firmed up I expect 40c-50c because of the fact that we know the company will sell the project to the Chinese
> 
> Cheers






YOUNG_TRADER said:


> Well the 50m broker shares placed at 12c came on today and they don't look to be selling, in fact on such a bad day, the buys have really stacked up on ACS,
> 
> Interesting..............
> 
> ...


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## tibby (31 July 2007)

tibby said:


> Hi YT,
> 
> I too am watching this one closely...I see that there are still around 1mil on buying side above 20c but notice it is very thin after 20.5c (700,000 shares of that 1mil is at 20c). Placement held up, didnt get mass selling from the sophisticated buyers that some had eluded too. US markets bounced around last night and finished in the green.....Im watching it closely as I cant see a trend, no upward/downward movement, sellers and buyers there but thin, volume down...and after the stock has run hard over the last month.
> 
> ...




Well guess I got an answer at  257pm!! .....those 1mil shares above 20c just disapperaed! Selling pressure built all avo and then it went in a few big orders. Well, I guess I it will show now how much people like this company...accumalation time?? Next hour will be interesting.


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## UPKA (31 July 2007)

any thoughts on the sell down today? looks like an individual off loaded about 500k shares, then few panic sellers followed. Could it be the placement? i would rather think its a time to top up at these prices.


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## kromey (31 July 2007)

I wrote last week that when the placement shares come on it will probably go down this could be the case today. Some people find it hard to resist not making a 100% profit.


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## fgzq88 (31 July 2007)

Have you guys noticed the latest ANN coming out after 4:00? 

MEDIA/PRESS RELEASE
HIGHLIGHTS
ACCENT GAINS INTEREST IN ITS FIRST GRANTED TENEMENT OF 170
SQ KM TO HIGHLY PROSPECTIVE AREA FOR VANADIUM (WITH
PREVIOUS RECORDED VALUES UP TO 1.6%) – TITANIUM (WITH
PREVIOUS RECORDED VALUES UP TO 19.5%) – MAGNETITE
PROPECTS AT KATANNING FROM HEADS OF AGREEMENT SIGNED
WITH PLATINUM AUSTRALIA


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## golfmos123 (1 August 2007)

did anybody really think ACS would retreat so far??  It was up around 26s only a few days ago and already sunk to 18.5 this morning early.

Is it just the release of the shares or is there something else in the air??  It would seem a good time to top up holdings wouldn't it???


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## bigt (1 August 2007)

Only $700k left in the kitty, will need more cash to continue operations? Does anyone know how they are planning to fund future exploration?


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## Sean K (1 August 2007)

bigt said:


> Only $700k left in the kitty, will need more cash to continue operations? Does anyone know how they are planning to fund future exploration?



LOL. Your info is a bit our of date bigt, check back through their anns. Hint, they just raised some money.


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## bigt (1 August 2007)

..AHH! Yes Kennas..just realised that...I just pulled the number from the latest qtrly, it musnt reflect the latest raising.


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## wigaz (1 August 2007)

golfmos123 said:


> did anybody really think ACS would retreat so far??  It was up around 26s only a few days ago and already sunk to 18.5 this morning early.
> 
> Is it just the release of the shares or is there something else in the air??  It would seem a good time to top up holdings wouldn't it???




Hey Golfmos,

I agree with you about the share price dropping so far. I spose the only reall explanation is that the DOW is down and therefore our sheep economy  is also down. Spec stocks always take the hit worse than the rest. 

I bought quite a few shares and options when they were 12c opts, and 27-28c heads. I thought that was reasonable then, and I think that still is. 
*FINGERSCROSSED* 

I think it's just a matter of time before ACS rises well, because the mkt is so jittery at the moment.

Cheers


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## IOT (2 August 2007)

how do you guys think the Resignation of Director and Company Secretary announcement will effect SP?  is this a good or bad thing?


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## UPKA (2 August 2007)

IOT said:


> how do you guys think the Resignation of Director and Company Secretary announcement will effect SP?  is this a good or bad thing?




it really depending on who they replace them with. if they get someone well known on board, it'll definately push up the SP a lil.


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## YOUNG_TRADER (2 August 2007)

IOT said:


> how do you guys think the Resignation of Director and Company Secretary announcement will effect SP?  is this a good or bad thing?






UPKA said:


> it really depending on who they replace them with. if they get someone well known on board, it'll definately push up the SP a lil.




It worked a treat for YML when they got an Ex-Bhp Iron Ore man, SP went from 60c to 80c+ on heavy volume

Be interesting to see who they got, I don't think the departing MD had any real knowledge of mining etc so he's departure tells me their getting serious


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## KIWIKARLOS (2 August 2007)

IF they are currently drilling that means we might expect some news in the next month or so? any thoughts

From what i understand they need to sure up alot more ground to get interest, has anyone spoken to the company recently

I am impressed how well its held up with whats going on at the moment in the market. Speccies took quite a pounding yesterday.

Wish i had picked up some oppies at .08 yesterday im still thinking about grabbing some today but want to wait incase we have another loss in US over night and they become a bargin again.


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## Busylion (2 August 2007)

YOUNG_TRADER said:


> Be interesting to see who they got, I don't think the departing MD had any real knowledge of mining etc so he's departure tells me their getting serious





So far, all the directors Richard Oh (chairman), Peter Farrah (MD and has stepped down), and Alan Low except Alan Wolstencroft do not have mining background, experience or qualification.  

Two new proposed directors will be appointed. One of them Terrence Butler Blaxell has mining Background experience or qualification.  Each new director will receive 1 million shares each.


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## YOUNG_TRADER (3 August 2007)

Well ACS is back at 20c,

I'm not yet convinced that the brokers are selling their placement shares,

You see the way placements like this *usually* work is that its given to the best and closest clients only and usually the understanding is YOUR NOT ALLOWED TO STAG A PROFIT, ie I have been offered a few placement opportunities in other things or even IPO's but was told that I couldn't just stag em the day I got them

Now think about it, the brokers took 50m shares via a placement, the total shares on issue is 100m, which means the brokers control collectively 50% of the company, if they sell 5m of them, then they jeapordise the balance 45m they hold,

I think there was alot of panic selling recently and if ACS continues to hold and build around 20c I will beomce more confident that the brokers aren't just stagging a profit

Time will tell


----------



## 56gsa (3 August 2007)

latest ann from MGX - presume this is relevant to ACS although not sure what interests MGX still has in Mt Gibson?  What did they sell to the Chinese?



> SUBJECT: MOUNT GIBSON WELCOMES ENVIRONMENTAL MINISTER’S DECISION
> 
> Mount Gibson Iron Limited ("Mount Gibson") (ASX Code MGX) is pleased to announce that the Western Australian Minister for the Environment has advised that the Mt Gibson Iron Ore and Infrastructure Project ("Project") can proceed. Importantly, the approval is not conditional on the remaining ridges of Banded Iron Formations in the Mt Gibson area that contain sub-populations or suitable habitat for Darwinia masonii and Lepidosperma sp. Mt Gibson and habitat for the remaining restricted floristic communities in the Mt Gibson ranges1 being secured in a formal conservation estate prior to ground disturbing activities.
> 
> ...


----------



## pcashman (7 August 2007)

The new directors have been announced:

The Board of Accent Resources NL is pleased to advise the appointment of Mr Terence Butler-Blaxell BSc, GDipApFin,, MBA ,MAusIMM, FFin and Mr Ian Richer Dip, Met. M Aus IMM as non executive directors of the company.

Not sure what their background is...


----------



## INORE (7 August 2007)

They are both Non-exec directors from Hazelwood resources last trading around 3c.....seems strange that they both came over at the same time....Will they be full-time with ACS?


----------



## doctorj (8 August 2007)

Not much of a surprise when you look at who engineered the board movements, the capital raising and also received much of the placement...


----------



## motion (16 August 2007)

Hi YT, 

Hope you are holding up well... Are you still holding ACS ? I'm looking at getting some since it's now at a very low level. I have been watching this one for a while and I like the company alot and thinking I might get some while the market is down.. not sure when buy before it jumps backup.... 

Anyway just wanted to hear your thoughts at these levels... Thanks for your time YT


----------



## drschimmell (24 August 2007)

Has anyone got any news or thoughts on ACS? The company have been very quiet of late and it's been a little while since it's been raised in this forum. Should we expect any announcements or anything soon?

Thanks


----------



## tibby (27 August 2007)

motion said:


> Hi YT,
> 
> Hope you are holding up well... Are you still holding ACS ? I'm looking at getting some since it's now at a very low level. I have been watching this one for a while and I like the company alot and thinking I might get some while the market is down.. not sure when buy before it jumps backup....
> 
> Anyway just wanted to hear your thoughts at these levels... Thanks for your time YT




Motion did you ge in yet? Ive been watching the buying pressure build oh so slowly...but it is building. Very low volume, no real selling depth. Buyers who stood back before the US market correction may well have done so because of the placement issues....maybe obvious to note that these "sophisticated" investors that the placement was made to have restored the markets confidence and not stagged a profit when they had the brief chance to double up when this stock was above 20.

Anyone out there have any indicators they would like to share from the charts??


----------



## IOT (1 September 2007)

How are people feeling about ACS?  Still holding but no news for a while.  Haven't heard much chatter about them.


----------



## YOUNG_TRADER (1 September 2007)

Not much to really add to this,

Waiting for an update is about all,



YOUNG_TRADER said:


> Hey guys,
> 
> Here's my next Iron Ore play,
> 
> ...




p.s. Those drill results are very meaty hits of magnetite, they ain't too deep (ie overburden) and the grades are 30%Fe+ mostly 35%Fe


----------



## tibby (12 September 2007)

Just wondering if anyone has been in contact with the company or has any news/feelings as to when we can expect an update with ACS......next to no volume for a few weeks now. I still believe placement issues should be resolved now with holders, as the initial fear of the sophisticated buyers dumping the stock after placement didnt happen....any thoughts?? YT you still in? Noticed in a previous post you were looking at topping up in low 20's pre US market correction....whats your thoughts now? does the lack of traded volume over the past month show holders and potential buyers that this 15c standoff is the floor price?


----------



## rico01 (13 September 2007)

Well ACS is in a trading halt with an announcement out. Any geologists out there would like to interperet, it would be much appreciated


----------



## giss (17 September 2007)

Trading status is normal and nothing much has happened? Anyone got any input on the latest announcement?


----------



## PETA 23 (25 September 2007)

Hi I am a very new trader and hold these shares - BUT I have no idea why I bought them - someone must have told me to....could anyone who holds these shares give me their view why they hold them?? Am I allowed to ask that???


----------



## papatee (25 September 2007)

PETA 23 said:


> Hi I am a very new trader and hold these shares - BUT I have no idea why I bought them - someone must have told me to....could anyone who holds these shares give me their view why they hold them?? Am I allowed to ask that???




Hi Peta  -  Read back through the history of comments in this thread. There is plenty of info and analysis that has been posted which should answer your question.


----------



## mjp (27 September 2007)

Useful announcement today on their completed aeromagnetic survey; firms up potential for a sizeable magnetite resource, and a follow up drilling program planned with drill already contracted.

Good cash on hand after their recent fund raising, for both this magnetite project and the Katanning iron-vanadium-titanium project.

Anybody with any geological knowledge to comment further?


----------



## giss (2 October 2007)

having a good run today! steady climb back up it seems. 250K units sold at 20cents in in about 20 minutes from 2:15 to 2:35pm today.


----------



## gregcourageous (3 October 2007)

Is anyone watching this??? A week ago ACS was sitting on 14 cents, now she is at 22... thats 50% in about a week. not bad.


----------



## ToddPowers (3 October 2007)

Yeah I know! It's so odd seeing this in the green! 
I have taken the liberty of uploading a chart over the last month.


----------



## gregcourageous (3 October 2007)

Still going! 23.5!

Less than 400k on the sell side, if 25 cents is broken watch out! Hardly anything after that!


----------



## mjp (3 October 2007)

I'm still watching 

in for a good chunk at 17.5

the options may be a good go, but too illiquid for me


----------



## copper_hot (4 October 2007)

testwork results update announcement 15 minutes ago.. any opinions on how the market will take this??


----------



## wipz (4 October 2007)

copper_hot said:


> testwork results update announcement 15 minutes ago.. any opinions on how the market will take this??




Looks like the market reacted to it great yesterday when the information leaked (im guessing this explains yesterdays jump).


----------



## YOUNG_TRADER (4 October 2007)

Hey wipz,

Yeah looks like it was insiders, joke lol, happens all the time now a days, JOKE,

On a good note, I like the ann, but as with most things patience gets rewarded.


*Excellent iron and vanadium concentrate values have been returned from preliminary testwork on surface samples from the Katanning titanomagnetite *(iron and vanadium) project. Beneficiation tests have produced concentrates assaying up to 2 per cent V2O5 and 63 per cent iron. Silica, a deleterious element, in the concentrate is less than 1.5 per cent, and the majority of the titanium was effectively rejected to the tailings fraction. These results were achieved at coarse grind sizes of between 106 to 300 microns.

The vanadium content in the concentrates is comparable to the vanadium content of the concentrates at leading South African vanadium operations.


A high resolution airborne magnetic survey is currently underway constrain targets for drilling within the Katanning project area.


----------



## giss (16 October 2007)

Some good movement today. Up 15% & still Plenty of buyers. Does anyone know if any updates are due? Potential breakout?


----------



## ToddPowers (14 November 2007)

Up 14.85% today interim trading with double usual volume, not seen since the last 15% rise on the 16th of October. Broken through the $.25 resistance point.


----------



## wipz (14 November 2007)

This stock is a funny one, I would not be suprised if there is an announcement on its way. Price took a jump the day before the last positive announcement so will just have to wait and see.


----------



## IOT (16 November 2007)

Katanning Iron and Vanadium Beneficiation Results announcement out.  anyone care to give an opinion?


----------



## wipz (16 November 2007)

Lab techs must have brought up couple of days back 

Katanning Project has produced high quality iron and vanadium concentrates:

*Mine Hill concentrate: 62.8% Iron & 1.89% vanadium pentoxide*

*Red Hill concentrate: 61.9% Iron & 1.94% vanadium pentoxide*

We're right next to MGX with market cap of $24mil. At all time high of 30c, blue skys ahead!


----------



## Blackchip (17 November 2007)

Highlights
The second stage of beneficiation testwork on the Katanning Project has produced high quality
iron and vanadium concentrates.
Mine Hill concentrate: 62.8% Iron & 1.89% vanadium pentoxide
Red Hill concentrate: 61.9% Iron & 1.94% vanadium pentoxide
The concentrate quality compares well with other titanomagnetite projects. Titanomagnetite is being
increasingly accepted as a source of iron ore in the steelmaking industry.
The vanadium content and low levels of deleterious elements in the concentrate is also comparable
to the concentrates at leading South African vanadium operations.
The testwork also showed that more than 70 per cent of the titanium can easily be removed from
the Katanning titanomagnetite, which potentially increases its suitability for use in steelmaking. A
high titanium tailings fraction will be further tested to assess the possibility of recovering ilmenite
as a by-product.
Importantly, the testwork indicates that excellent mass recoveries and concentrate quality can be
achieved at a relatively coarse grind size (300 microns). By contrast, conventional magnetite projects
require energy intensive fine grinding (typically finer than 45 microns).
Data have now been received from a high resolution aeromagnetic survey over the entire Katanning
project, covering a total area of more than 720 square kilometres. The magnetic data is being
processed and interpreted to generate drill targets. Drilling at Katanning is anticipated to commence
around January 2008.


----------



## YOUNG_TRADER (19 November 2007)

Still holding heaps of these and waiting for true value to occur,

I still firmly believe ACS is undervalued but it looks like it won't be for a few more weeks that true value will be realised, (around the time that they do more work on Mt Gibson me thinks  )

Chart wise dissapointing that it has fallen back below 28c,

On the upside Katanning is shaping up to be a real goer, still waiting


----------



## YOUNG_TRADER (23 November 2007)

Looks like ACS will have to consolidate more under 28c,

But I did like the presentation yesterday, lots of info on Katanning,

Also looks like Mt Gibson (my favourite project of the lot and why I bought) will be drilled Jan-Feb, can't wait and I bet the Chinese group Sinom that bought Extension Hill can't wait either, after all the need more Magnetite to meet economies of scale


----------



## kerosam (5 December 2007)

pretty much on support at the moment 24.5cts... YT, do you think the price will close up the gap before heading upwards (hopefully)again?


----------



## Bowey (24 January 2008)

Anyone still accumulating ACS?
This thread has been very quiet since December, what's going on? Out of favour?

YT, any chatter?

Cheers


----------



## Sean K (24 January 2008)

Bowey said:


> Anyone still accumulating ACS?
> This thread has been very quiet since December, what's going on? Out of favour?
> 
> YT, any chatter?
> ...



Hmmm, not accumulating but sold out last August on the breakdown and keeping an eye on it. Waiting for any sort of stability on global markets to start going big into semi spec, risk required ventures....which this is one. I think we're just dead cat and waiting for the true resurection, which may be a while away.


----------



## YOUNG_TRADER (25 January 2008)

Bowey still here,

As I said, once ACS got the large high grade magnetite hits ie 60m's at 35-45% Fe it became a value play for me

Its mkt cap is dirt cheap given the potential it has,

As I have always said, once they get a JORC they will sell the magnetite to the Chinese group Sinom who bought Extension Hill off MGX


----------



## Bowey (25 January 2008)

Thanks guys,

For the short term I sold out to concentrate my funds on some other movers, this one is too stagnant for the moment. I will come back when conditions change.

I noticed some more interest by Sinosteel in MIS, buying up cheap yesterday, so I guess the Chinese are looking out for buys, maybe ACS in future - who knows.


----------



## YOUNG_TRADER (28 February 2008)

Well just like MDX, out of nowhere ACS have sprung to life, so here are the fundies again

*ACS*​
*
Mkt Structure*
*
Shares*
100m + 30m 20c Opies 30/9/09

Mkt Cap @ 20c = $26m Current
Mkt Cap @ 30c = $39m Target 1
Mkt Cap @ 50c = $65m Target 2

*
Cash*
$6m + $6m when opies exercised therefore = *$12m* 


*
Projects*

*
Mount Gibson * _Iron Ore, 80% maybe more, Mid West W.A. 5km's from MGX's operations_
Although there is no JORC yet, drilling so far has shown 20m -80m thick 30% - 40% Fe Magnetite Ore from 16m - 30m down

From these drilling results, the potential strike length of 8km's and talking to the company, its clear that ACS have a very good chance fo firming up minimum 100Mt@30-35% Fe

Now adjacent to ACS's Mount Gibson project is Extension Hill, which was MGX's early Magnetite discovery of 240Mt's (unsure of grade) The Chinese (Sincom Investments Ltd) bought this off MGX. The problem is Extension Hill is only 240Mt's and minimum a standalone operation of Magnetite needs 400Mt's, thus you can see why ACS's Mount Gibson project is vital to Sincom.

It is clear the companies intention is to firm up a 100Mt resource and sell it to the Chinese (Sincom Investments Ltd).

Depending on the end result, I would expet a 100Mt@35%Fe deposit to fetch close to $50m = 50c ACS


While the project still doesn't have a JORC, I'm betting it will be a matter of time.


*
Katanning* _Ferro Vanadium, Up to 90%, W.A._
This project is an early stage *AXO* Aurox Balla Balla, its Ferro Vanadium  and covers an Area of 500km² so could b very very large, 

Grab samples have yielded some significant results so far though
Moreover they have been doing alot of mapping and testing, I wonder if they have some target sizes already?



*
Noresman* _Gold, 100%, W.A._
*JORC 65k oz's Gold (grades 1.5 g/t - 2g/t Au) * This deposit is too small to justify any sort of stand alone operation, however Toll Treatment of the Ore could net $5m+


*
Summary*

*- 100Mt Resource at Mt Gibson should be worth 50c to ACS
- Chinese interest in Mt Gibson as they desperatley need to get more Ore to make Extension Hill a viable project
- Katananning looks promissing
- Drilling to commence on both projects*


----------



## YOUNG_TRADER (29 February 2008)

Well ACS has sorta surprised me, but then I did say we would see alot of life + proper re-rating closer to drilling,

But the good thing is ACS is drilling on its 2 flagship projects (although they haven't yet announced if the Mt Gibson program has started) but the Katanning certianly has,

Below are some extracts from company presentations re Mt Gibson, just re-iterating the history of the whole MGX-Sinom sale deal and why ACS's Mt Gibson will be so valuable to the Chinese group Sinom.

_"Now adjacent to ACS's Mount Gibson project is Extension Hill, which was MGX's early Magnetite discovery of 240Mt's (unsure of grade) The Chinese (Sincom Investments Ltd) bought this off MGX. The problem is Extension Hill is only 240Mt's and minimum a standalone operation of Magnetite needs 400Mt's, thus you can see why ACS's Mount Gibson project is vital to Sincom."_

While drilling to JORC may take a few weeks the wild card is that like MDX, ACS releases a target estimate prior to drilling which would then give the mkt a serious idea of what they have, and remember it doesn't matter that its Magnetite as THATS WHAT SINOM NEEDS!

Like MDX, ACS have been busy doing alot of mapping, surveying, sampling and as you can see they already have some drilling wih very meaty hits, thus I'd say we can expect a target estimate which should cause a re-rating

But my opinon only


----------



## Ants (29 February 2008)

Good to see this one alive again.  One of the few I held through out the end of last years hiccups. (along with mak)


----------



## YOUNG_TRADER (29 February 2008)

Well I don't want to get too excited but I think something is definately up,

The chart looks like a clear breakout to me,

I reckon that the company is going to release target estimates for Mt Gibson and maybe even Kataning

And depth is very scarce


----------



## YOUNG_TRADER (29 February 2008)

Hmmm, just looked at the chart I posted up is not that clear as it doesn't show the strong run up last few days

Here's another chart, it clearly shows a strong run up prior to the drill program starting at Kataning which to me suggests insiders, the fact that the stock wasn't sold off on the news suggests to me that there's something more lucrative yet to be announced which was what those that bought at 15c-20c are waiting for,

This is all my speculation but I'm trying to make heads or tails of whats going on


----------



## wipz (29 February 2008)

Well knowing the history of ACS and being bought up before a major announcement, something big might be on the cards.


----------



## smurfette (1 March 2008)

Hi guys,
I am a long time reader, first time poster. 

I've read quite a few posts from Young Trader on stocks which have risen significantly in the past, more recently MDX.

I have spent a bit of time this weekend researching ACS, in particular their Mt Gibson project and have noticed that as you have already mentioned Young Trader, that connections and similarities can be made to a deal done between MGX and Chinese company Sinom for a 200Mt magnetite deposit near by.

I have noticed that the MGX 200Mt deposit consisted of an 8km strike, where as ACS claim a 14km strike length. Can we infer anything in regards to the target size of the Mt Gibson project from this?

Also Young Trader, what are your thoughts on the Katanning project? I actually owed Aurox Resources (AXO), a company also with a ferrovanadium project and had past success with them. 

I’m researching this company for the first time after it impressed me on Friday rising over 40% on a day most of the market was down. Young Trader, if you have any free time this weekend, I would love to hear your opinion.

Thanks,
Smurfette


----------



## giss (1 March 2008)

ACS has had some ups & downs like any other share out there lately. However it is a thinly traded stock. While alot of it seems to be in the control of the company's hands anyone coming in to buy can be assured that the share price does stay relatively protected from severe fluctuations. The hope is that some of these drill sites does really show value & attract new buyers. If this happens the stock (being thinly traded) will skyrocket. As mentioned by YT the value could in just one area be worth a share price of 50c. I've been sitting on this stock for a long time now & thinks it will, when the right information presents itself, have little to hold it back.


----------



## YOUNG_TRADER (2 March 2008)

Hi Smurfette,

Re your Mt Gibson questions I did go to the effort of already putting out my thoughts on the potential size, its in one of the images, I have re-posted it so have a look,

I basically worked out how many tonnes MGX found at Extension Hill per km of strike and then extrapolated it for a max target size for ACS, 

ie MGX 250Mt's for 8kms strike = 31.25Mt's per km of strike

ACS 14kms strike at max 31.25Mt's per km strike = MAX 437.5Mts now this is only a possible max mineralistion, ie based on some extrapolation of figures, I'd say though that *given the avg hits of 40m's-50m's @ 35%Fe I'd say around 250Mt's* seems a reasonable target.


----------



## smurfette (2 March 2008)

Thanks Young Trader,

It certainly would be fantastic if the company could firm up a 250 Mt resource at Mt Gibson.

However, I really wanted to hear your thoughts on their Katanning Project. 

Please let me know tonight if you can because I don't hold any at the moment and tomorrow might be a good time to do some buying.

Smurfette


----------



## prawn_86 (2 March 2008)

Smurfette,

Members here provide general information, not buy or sell recommendations.

You are just as capable as doing research as everyone else, as all of the info is publicly available.

I would suggest it is not wise to buy on the back of somones elses comments, without your own research, no matter who that person is.


----------



## Sean K (2 March 2008)

prawn_86 said:


> Smurfette,
> 
> Members here provide general information, not buy or sell recommendations.
> 
> ...



Yep, agree with prawn, and you should seriously consider the ramifications for requesting advice and then running with it from ANYONE, even a Financial Advisor. Worst thing you could ever do is actually take advice from a family member. The problem is that when your advice is a 'winner' then it's all beer and skittles. If the 'advice' is a loser, then you want to put a hit out on the person. YT has had problems in the past when the rare loser has popped up, or he's sold out for a profit when newbies have jumped in at the top and ended up losing money, on stocks he has posted on. Please take note of YTs signature block! Anyway, enough of the disclaimers, good luck with your investment strategy.


----------



## smurfette (2 March 2008)

prawn_86 said:


> Smurfette,
> 
> Members here provide general information, not buy or sell recommendations.
> 
> ...




Prawn you certainly are correct. 

However I have and always will do my own research and make my own decisions. I will always accept the full consequences of any adverse investment that I make and I would never solely make a decision based upon the opinion of someone on an internet forums. 

Nonetheless there are thousands of companies listed on the ASX, too many for one person to cover all of, and it was of my understanding that investment forums such as Aussie Stock Forums were established in order for shareholders and prospective shareholders to share information and make a better informed decision.

Smurfette


----------



## YOUNG_TRADER (2 March 2008)

I would like to second and third exactly what Prawn and Kennas have said and Smurfette this is not just for you but for everyone really, the decision to buy and sell stocks must be made by those investors/traders themselves,

I am no guru, I simply put forth arguments where I think a stock should get re-rated for a certain reason,

Sometimes my thoughts are shown to be correct and the stocks re-rate and hold those gains properly ie CUL, YML(BRM), sometimes the stocks re-rate and then fall back due to some new factors RMI (absolute sh#t management, poor capital raising choice etc etc)

As for ACS, it was ridiculously cheap at 10c-15c and still cheap I thought at 20c-25c given the potential its projects held, as highlighted by my thoughts on Mt Gibson, I also was happy to buy options at 10c as I thought they offered alot of upside

Smurfette you said you held AXO, so did I early days and if your interested in understanding ACS's Katanning you need to look at AXO's Balla Balla as its is a FerroVanadium Titanium deposit, similar to what ACS hopes to find at Katanning

However unlike Mt Gibson, I am not aware of any historic drilling that has taken place at Katanning, rather the company has conducted rock chip smaples, ground surveys, magnetics etc etc

See the below extracts for what the company believes it has at Katanning, as for size I have no idea yet as it is too early stage, remember those aren't deposit grades just rock chips, so keep that in mind


----------



## YOUNG_TRADER (3 March 2008)

Looks like some group called Golden Bell has purchased 5.3m shares at 19c-20c

Whats interesting is that this group is based in Hong Kong, I am curious as to how a Hong Kong group came to learn about ACS? My only thoughts are that perhaps they are a proxy for some Chinese group? But this is just pure speculation on my part, for all we know they randomly picked ACS while drunk :

Nevertheless I am very intrigued by this


----------



## smurfette (3 March 2008)

Damn I was really hoping to have the chance to buy in cheaper today. I thought that with this mini-crash today I would be able to pick up some bargains. But if just didn't fall, does anyone think it is because of this news.

Smurfette


----------



## stu_lee44 (3 March 2008)

Hi,YT.Thanks for your remind.
I check the company-----Golden Bell,it's very interesting!
This company is controlled by PIONEER IRON & STEEL GROUP,which is a large Chinese Group.
In 2006,ZHUHAI YMP YUEYUFENG IRON & STEEL CO. LTD was built by Pioneer and Rio together.They looks very interesting in Australian iron ore.....
Just guess what they want to do on acs......


----------



## YOUNG_TRADER (3 March 2008)

stu_lee44 said:


> Hi,YT.Thanks for your remind.
> I check the company-----Golden Bell,it's very interesting!
> This company is controlled by PIONEER IRON & STEEL GROUP,which is a large Chinese Group.
> In 2006,ZHUHAI YMP YUEYUFENG IRON & STEEL CO. LTD was built by Pioneer and Rio together.They looks very interesting in Australian iron ore.....
> Just guess what they want to do on acs......




Hi stu,

I was curios how you found out that info? via company database search?

Also how did you know who Pioneer Iron and Steel are?

I am going to try and dig into to this too as that would be very positive news IMO


----------



## stu_lee44 (3 March 2008)

Hi,YT.I happened to have a internal material mentioning Golden was 100%controlled by Pioneer.There are few related to Pioneer.I just found one in English below:

A Sino/Brazilian joint venture, operating under the name of ZHUHAI YPM, was recently established in view of building a new pellet plant in China. The partners in the planned undertaking and their respective shareholdings include the local ZHUHAI YUEYUFENG IRON & STEEL CO. LTD. (40%) and PIONEER IRON & STEEL GROUP CO. LTD. (35%) in conjunction with Brazil-based CIA VALE DO RIO DOCE (CVRD -25%)


----------



## wipz (3 March 2008)

The chinese really do love mt gibson don't they?   Suprised to see it get hammered after open considering the chinese interest in ACS implied through the  notice announced today.  I hold, its just starting to get exciting.


----------



## YOUNG_TRADER (3 March 2008)

stu_lee44 said:


> Hi,YT.Thanks for your remind.
> I check the company-----Golden Bell,it's very interesting!
> This company is controlled by PIONEER IRON & STEEL GROUP,which is a large Chinese Group.
> In 2006,ZHUHAI YMP YUEYUFENG IRON & STEEL CO. LTD was built by Pioneer and Rio together.They looks very interesting in Australian iron ore.....
> Just guess what they want to do on acs......





At first I wasn't sure of the link between the two,

But then I checked *Pioneer Iron & Steel Groups* web page 
http://www.pioneer-metals.com/en/contact_en.asp

See the Contact us details given for Hong Kong? 


Room 3508, Tower Two, Lippo Centre, 
      No. 89 Queensway, Hong Kong 
      Tel: +852 2366 2782
      Fax: +852 2369 9811
      Email: webmaster@pioneer-metals.com

Now see the address details given for *Golden Bell* in todays substanital shareholder notice?

Room 3405 Lippo Centre Two
89 Queensway, Hong Kong

So the two groups are in the same building, in the same tower (ie no 2) and are but a few offices away from each other,

Its safe to say that your right Stu, Golden Bell appears to be a subsidiary of Pioneer Metals,

Whats interesting is the fact that they have made the investment under a subsidiaries name, perhaps to conceal their identity for now and keep things quiet?

Either way this Pioneer Metals group looks quite large in China,

and I quote have *"established itself as one of the key players in the Chinese iron and steel industry" *
 ie they seem to have many many deals with RIO, Vale, Sino etc etc

Now you can add little old ACS to the list and this shows that I was right, or at least this major Chinese Steel group thought I was right 

I bet there will be further buying by this substantial holder, after all there is a long way to go until they hit 19.9%


----------



## stu_lee44 (4 March 2008)

Yes,YT.Your right.Mt Gibson means sth.Pioneer's strategy maybe expain why:"Equity investment in the resources forms part of our strategic expansion in the         resources area. A new professional team is constantly reviewing a range of opportunities         and is engaged in detailed negotiations on several prospective iron ore and coking coal         mining projects."
Patience will be rewarded.


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## YOUNG_TRADER (4 March 2008)

Although I'm a little noob at charting, my basic technical skills tell me that ACS has broken out above 28c, while it may need to prove it can hold this level with a few more days above it, it must be remembered that these past days have been very bearish and trying at best


----------



## Sean K (4 March 2008)

YOUNG_TRADER said:


> Although I'm a little noob



Quote of the year so far, going into the ASF Hall of Fame... lol 

I agree with you, Little Noob.


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## YOUNG_TRADER (4 March 2008)

Well well, 

THe Chinese group *Pioneer Metals Group* via their subsidiary Golden Bell purchased another *1,137,000 shares at 29c*

This take their *Total Holdings to 6.43m which only = 6.57%*

This means that they can effectively buy another 12.5m shares before they hit the 19.9% limit (if they wish to)


----------



## YOUNG_TRADER (4 March 2008)

ACS now have 2 projects being drilled,

Their Ferrovanadium project at Katanning (wild card)

And their Magnetite Mt Gibson project (to be sold to Asian Steel group)
_
COMMENCEMENT OF DRILLING AT THE MAGNETITE RANGE
PROSPECT AT MT GIBSON, (ACS 80%, MWE 20%).
A reverse circulation drilling programme commenced on the Magnetite Range prospect recently to test the
potential for magnetite deposits along a 14km strike length of banded iron formation. This formation is the strike
extension of the same unit that hosts the 250Mt magnetite deposit at Extension Hill (Asia Iron Holdings Ltd)._


Now whats interesting is that now all of a sudden this Asian Steel group has decided to take a stake in ACS, what do they know that we don't?

Or perhaps they jsut timed their buying really well to coincide with the begining of both drill campaigns


----------



## YOUNG_TRADER (4 March 2008)

An updated fundamental view

*ACS*​
*
Mkt Structure*
*
Shares*
100m + 30m 20c Opies 30/9/09

Mkt Cap @ 20c = $26m Previous
Mkt Cap @ 30c = $39m Target 1 Reached!
Mkt Cap @ 50c = $65m Target 2

*
Cash*
$6m + $6m when opies exercised therefore = *$12m* 


*
Projects*

*
Mount Gibson ** Iron Ore, 80% maybe more, Mid West W.A. 5km's from MGX's operations*
Although there is no JORC yet, drilling so far has shown 20m -80m thick 30% - 40% Fe Magnetite Ore from 16m - 30m down

From these drilling results, the potential strike length of 8km's and talking to the company, its clear that ACS have a very good chance of firming up minimum *100Mt@35% Fe * and maybe as much as *437.5Mt's@35%Fe*

Now adjacent to ACS's Mount Gibson project is Extension Hill, which was MGX's early Magnetite discovery of 240Mt's (unsure of grade) The Chinese (Sincom Investments Ltd) bought this off MGX. The problem is Extension Hill is only 240Mt's and minimum a stand alone operation of Magnetite needs 400Mt's, thus you can see why ACS's Mount Gibson project is vital to Sincom.

It is clear the companies intention is to firm up as much ore as they canand sell it to the Chinese (Sincom Investments Ltd).

Depending on the end result, I would expet that ACS would recieve more than the 57c / t of Fe that MGX recieved, recently A Chinese group agreed to purchase Cape Lamberts 1.5B/t @30% Fe deposit for $400m = about 90c/t Fe, given Sinom need this ore to make thier whole project viable I am happy to use a $1/t figure (also taking into account further strong Fe factors) so a

*100Mt@35%Fe deposit should fetch close to $35m = 35c (26c) ACS
200Mt@35%Fe deposit should fetch close to $70m = 70c (54c) ACS
300Mt@35%Fe deposit should fetch close to $105m= $1.05 (80c) ACS
400Mt@35%Fe deposit should fetch close to $140m= $1.40 ($1.08)*

These are some very interesting numbers when you consider the current market cap of $30m ($40m dilluted)

Drilling to define a JORC is underway 

*
Katanning Ferro Vanadium, Up to 90%, W.A.* 
This project is an early stage *AXO* Aurox Balla Balla, its Ferro Vanadium  and covers an Area of 500km² so could b very very large, 

Grab samples have yielded some significant results so far though
Moreover they have been doing alot of mapping and testing, I wonder if they have some target sizes already?

So far they have mapped multiple 1.5km to 3km targets grading 50% Fe +  and  1.5%V2O5 

The project looks very promissing and I eagerly await drill results


*
Noresman** Gold, 100%, W.A.*
*JORC 65k oz's Gold (grades 1.5 g/t - 2g/t Au) * This deposit is too small to justify any sort of stand alone operation, however Toll Treatment of the Ore could net $5m+


*
Summary*

*- 200Mt Resource at Mt Gibson should be worth 70c (54c) to ACS
- Chinese interest in Mt Gibson as they desperatley need to get more Ore to make Extension Hill a viable project and now a large Chinese Steel Group Pioneer Metals, actively buying ACS shares on mkt!
- Katananning looks promissing
- Drilling commenced on both projects*


----------



## smurfette (4 March 2008)

This is really interesting guys.

Does anyone have any ideas on what Pioneer/Golden Bell's intentions are?
How many shares do they want? Is this a full takeover?

Also what does anyone make of the timing? Is it just a coincidence that drilling has just begun on both projects?

Any thoughts are much appreciated,
Smurfette


----------



## Sean K (4 March 2008)

smurfette said:


> Does anyone have any ideas on what Pioneer/Golden Bell's intentions are?
> 
> How many shares do they want? Is this a full takeover?



 LOL

Yes, I am the MD of this company and I intend to take them over. 

I want all the shares.

All of them I tell you!!

The full monty!!!


What do you think Smurf?

Just take a pluck from what's been said, and your research of the company....


----------



## Sean K (5 March 2008)

Hey Little Noob, Looks like that 28 cents has held OK, and if you think that's a pennant then a break up could go somewhere around the blue line. Or not. 

Been a good run since the original breakout at 17 cents ish.


----------



## YOUNG_TRADER (5 March 2008)

kennas said:


> Hey Little Noob, Looks like that 28 cents has held OK, and if you think that's a pennant then a break up could go somewhere around the blue line. Or not.
> 
> Been a good run since the original breakout at 17 cents ish.




Hey Mr Tiger, lol,

So you think 45c is the upside target if the formation is correct?

Hmm interesting, I personally think that the Chinese are stilll buying and will continue to keep buying, however I'll wait for the change in substantial notice today to confirm this,

If they continue to buy I think they're gonna have to pay up soon cause the sellers seem to be drying up


----------



## Dr.Stock (5 March 2008)

G`day

The person who signed off on golden bell was Fiona LI.
Fiona Li is directly linked to pioneer. If my research is correct she is part of the group general counsel at *pioneer iron and steel.* 
Pioneer took a stake in a company _london mining_ in october 2007 and the stock, _london __mining_, went from 18 to 32 .
Considering most chinese resource companies have govt hands associated with them it makes for interesting stock viewing.
Food for thought
Stock


----------



## YOUNG_TRADER (5 March 2008)

Hey Dr Stock, 

Thanks for the info,

Interesting to see ACS appoint on new Director, who is also head of Ascot Securities, who from memory were the group that did the huge placement a couple of months back,

No change in substantial notice yet, but I'm pretty sure the Chinese have been buying more, volumes have been 1m-1.5m for the last few days now,

I expect another notice by the end of the week showing more buying,

p.s. I wonder if Pioneer Metals have a link to Asian Iron (Sinom) who bought Extensions Hill? If they do then this is obviously a strategic move to ensure that they get the Mt Gibson Ore, 

However if they are 2 seperate groups as I think they are, then it could be a blocking move by Pioneer Metals who want a foot in the Aussie scene

Dr Stock or Stu, do you guys know if Pioneer Metals has any other Iron Ore projects in Aust?

Cheers


----------



## YOUNG_TRADER (7 March 2008)

Still no change in substantial notice, but I reckon they're still buying

there's 400k buying at 30c today and the stock is up on a very very bad day


----------



## YOUNG_TRADER (7 March 2008)

YOUNG_TRADER said:


> Still no change in substantial notice, but I reckon they're still buying
> 
> there's 400k buying at 30c today and the stock is up on a very very bad day




And there it is folks, the change in substantial notice,

*Pioneer Metals has bought another 1.7m shares at around 30c*
taking thier total holding to 8.2m = 8.36%


----------



## YOUNG_TRADER (11 March 2008)

Well Pioneer Metals it seems are playing it smart and are not chasing up the SP, instead they seem to be using the mkt weakness to mop up ACS around the 30c level

They have put up a huge wall of support at 30c and given these mkts thankgoodness for that


----------



## eclectic_nish (11 March 2008)

maybe they are supporting their investment....propping up the price...but if they didnt they probably could pick up much more cheaper on down slide.....oppss...i didnt mention that....:


----------



## zt3000 (11 March 2008)

The fundies and interest by some large players has this on my watch list

but cant friggen buy coz the rest of the market is running around like chooks with their heads lopped off 

where has the sense gone?



not willing to punt on this yet lol


----------



## Sean K (12 March 2008)

YOUNG_TRADER said:


> Hey Mr Tiger, lol,
> 
> So you think 45c is the upside target if the formation is correct?



Little Noob, the formation's still a possibility. 

Break up from the pennant gives 45 ish, 

TB.


----------



## YOUNG_TRADER (12 March 2008)

zt3000 said:


> not willing to punt on this yet lol




You should have been buying from 15c-20c mate, then you wouldn't have this problem 


Hey Kenna, you still think that target is possible? Well I hope so cause I'd be taking some profits at that level


----------



## Sean K (12 March 2008)

YOUNG_TRADER said:


> Hey Kenna, you still think that target is possible? Well I hope so cause I'd be taking some profits at that level



LN, it's a probability at the moment. While it's forming a bit of a triangle/flag between 30 and 35 then it's a chance. Breaking down through 30 all bets off. These have a higher probability when occuring as a continuation of a previous trend, so it doesn't completely fit the profile.


----------



## YOUNG_TRADER (13 March 2008)

Hey Kenna,

Looks like the Chinese are happy to just sit back around the low 30's and buy

Be interesting to see another change in substantial notice


----------



## YOUNG_TRADER (17 March 2008)

YOUNG_TRADER said:


> Hey Kenna,
> 
> Looks like the Chinese are happy to just sit back around the low 30's and buy
> 
> Be interesting to see another change in substantial notice




Yep 29c to 30c looks like where they're happy to buy at,

Strange really if they just stood back and let the mkt carnage attack ACS they could get it around the low 20's,

So for now 30c (28c) seems like a very strong floor, Chinese can buy another9m before they hit 19.9%, whether they do well thats the interesting part


----------



## YOUNG_TRADER (26 March 2008)

YOUNG_TRADER said:


> Bowey still here,
> 
> As I said, once ACS got the large high grade magnetite hits ie 60m's at 35-45% Fe it became a value play for me
> 
> ...




See this is why I love Fe plays that have hits, why? Because the Ore is there, it doesn't move away its there and its only a matter of time before enough drilling is done to verify it ie YML/BRM and now ACS,

ACS had plenty of 60m hits grading 35%-45% Fe and now from their current drilling they have observed (no assays yet) very large interesections of magnetite

*PLEASE NOTE THAT PER THE COMPANY'S OWN ADMISSION, THESE VISUAL HITS NEED TO BE VERIFIED BY ASSAYING!*


----------



## zt3000 (1 April 2008)

YOUNG_TRADER said:


> You should have been buying from 15c-20c mate, then you wouldn't have this problem




Very true YT lol 

If only ... hindsight is good, foresight is much much better lol

Still hasn't moved from the 30's and i'm still watching and waiting for a breakout 


I'm such a noob


----------



## YOUNG_TRADER (11 April 2008)

YOUNG_TRADER said:


> See this is why I love Fe plays that have hits, why? Because the Ore is there, it doesn't move away its there and its *only a matter of time before enough drilling is done to verify it ie YML/BRM and now ACS,*
> 
> ACS had plenty of 60m hits grading 35%-45% Fe and now from their current drilling they have observed (no assays yet) very large interesections of magnetite





Like I said only a matter of time before it gets proper value, this is what happens with these sorta sure play things, ie ACSa had the drill hits over a large area, so the deposit was all but confirmed, it was a no brainer really

I took some profits in the high 30's but only some because I was holding heaps from the 15c-25c level avg,

But that target of 300Mt's - 500Mt's is huge!

I mean MGX sold 240Mt's for $52m back in late 2005/ early 2006, that would easily be worth double today, so if ACS can firm up 500Mt's then this maybe a $200m project,

I'll wait to see if it trades back to 28c to buy more


----------



## golfmos123 (11 April 2008)

Rotten little beast today - I've been chasing the trade since this morning and it keeps moving upwards just in front of me. 

Hindsight is a wonderful thing but I figured that at 25c this morning, I should jump in.  Especially as it has been anchored around 30c by the overseas buyers.  But it seemed I was 5 min too late every time I looked at it!!  

And now it's got up to a point I don't want to enter any more.  Would love to see an entry back under 30 somewhere.....


----------



## pajm (11 April 2008)

Show me the money! Welll done YT and other holders. Had been following and hopiing ann would not be out for another week or so......or well.......


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## YOUNG_TRADER (22 April 2008)

Well never got back to 28c it got close though, I guess thats what you get bieng stingy 

Its churning alot of volume above 30c, I guess with 2 projects showing promise, especially Mt Gibson with its *300Mt-500Mt Mag target*, for now Kataning is early stage but as more work is done I'm sure a clearer picture of what to expect will emerge 

Still watching the Golden Bell/Pioneer Metals  actions, be interesting to see in the end if they were in cohoots with Sinom 

Am happily 







YOUNG_TRADER said:


> Like I said only a matter of time before it gets proper value, this is what happens with these sorta sure play things, ie ACS had the drill hits over a large area, so the deposit was all but confirmed, it was a no brainer really
> 
> I took some profits in the high 30's but only some because I was holding heaps from the 15c-25c level avg,
> 
> ...


----------



## pajm (24 April 2008)

YOUNG_TRADER said:


> Well never got back to 28c it got close though, I guess thats what you get bieng stingy
> 
> Its churning alot of volume above 30c, I guess with 2 projects showing promise, especially Mt Gibson with its *300Mt-500Mt Mag target*, for now Kataning is early stage but as more work is done I'm sure a clearer picture of what to expect will emerge
> 
> ...




Hi YT - know it can be a lottery at times but do you think ACS has found it's support around 32.5? Low volume today. Cheers.


----------



## Sean K (28 April 2008)

pajm said:


> Hi YT - know it can be a lottery at times but do you think ACS has found it's support around 32.5? Low volume today. Cheers.



The obvious support line is across 30. Potential breakout from here with lots of resistance that if broken should result in a bit of a jump. The recent pole and pennant with ascending triangle gives a target of around 45 perhaps.


----------



## pajm (28 April 2008)

kennas said:


> The obvious support line is across 30. Potential breakout from here with lots of resistance that if broken should result in a bit of a jump. The recent pole and pennant with ascending triangle gives a target of around 45 perhaps.




Thanks Kennas. Hopefully more news will come soon to get up to the 45 (and beyond lets hope). New to this stock so also hoping my timing is good.


----------



## kamil (7 May 2008)

Very strong movement today for ACS and ACSO  the oppies are up almost 25% atm! any clues why? there is an Appendix 3B out but no market sensitive announcements... yet.


----------



## YOUNG_TRADER (7 May 2008)

Hey Kamil,

I don't think there's anything due out, there was more drilling to come

Hmmm haven't seen any more buying or change in substantial holder notices from Pioneer Metals, maybe today was them 

I took some opies off the table around 20c

Am holding a free carried position now which will join my retirment fund in the bottom draw


----------



## kamil (7 May 2008)

Thanks YT, I bought in at 11.5c mid last year! patience was the key... definitely worth the wait!


----------



## YOUNG_TRADER (8 May 2008)

Couldn't help myself today,

had to take some more profits in the high 40's

Amazing, its moved almost 300% for me heads and options,

Was such an obviously underlvalued stock given the proximity to Extension Hill, the fact there was MAG on ACS's grounds (we just didn't know how much) and the fact that Sinom the purchaser's of Extension Hill Mag needed more Mag or to get their project up and running

Interesting that still no update from Golden Bell/Chinese Steel Mill


----------



## pajm (11 May 2008)

Seems the Chinese are out here, so wonder if this has been behind the recent rise. Also wonder, if so, what impact visit is/will have on developments.


----------



## Sean K (21 May 2008)

A break up from here gives me a probable target of 55 ish short term. Yesterdays candle is pretty positive.


----------



## johnnyg (23 May 2008)

YOUNG_TRADER said:


> Interesting that still no update from Golden Bell/Chinese Steel Mill




Well it seems that they didnt want to chase any more on Market and ended up going for a placement of 10mil @ 0.38 which now takes there stake upto 19.95%.

Also interesting that Golden Bell are going to nominate a director to the board.

Things are starting to move along well.


----------



## YOUNG_TRADER (23 May 2008)

Yeah I saw the ann too,

Its all coming together like I believed it would,

I took some more profits today ACS and ACSO (these have been 300%+ now ) 

What I don't get is I'm sure Golden Bell could have acquired their stake at a lower level had they been a bit more aggressive in their buying, but hey its all positive for ACS

Now to try and find the next 15c ACS out there with 300% upside


----------



## Sean K (2 June 2008)

kennas said:


> A break up from here gives me a probable target of 55 ish short term. Yesterdays candle is pretty positive.



Failed at this point and traded sideways for a bit, but has clear support in the flag/pennant formation. A break up still gives the same short term target.


----------



## YOUNG_TRADER (4 June 2008)

Taking more profits here guys,

This has been such an amazing ride, kinda like YML early days

The company always was so cheap at 15c given the fundamentals and the Fe they had and now the re-rating is well and truly happening

p.s. Kenna looks like your chart played out


----------



## Sean K (4 June 2008)

YOUNG_TRADER said:


> Taking more profits here guys,
> 
> This has been such an amazing ride, kinda like YML early days
> 
> ...



Must be a bullish market right now because I have rarely seen so many short term targets taken out like this. Lovely to watch.

Well done YT!


----------



## pajm (4 June 2008)

Good on ya guys. Only came on at end of April at 34 and missed just prior when settled around 25, but what a ride. Thanks YT. Great watching it lately go against overall market trend - nothing more sweet to watch. Well done on the charting Kennas. Look forward to seeing what happens with further news


----------



## Sean K (18 November 2008)

This has gone great guns since the last posts.

Now back on the long term watch list for turn around.

Possible bottom around 10 cents?


----------



## BeateG (23 February 2009)

Hello everyone,

Any ideas/opinion about the current ACS price development? I wonder if there might be some announcement to be released soon?

Thanks for your comments!
B


----------



## YOUNG_TRADER (29 May 2009)

ACS has had some very interesting developments of late

1. Around 10M has gone thorught the last 3 days at 16c-16.5c avg, most of these looked like pre-organised trades, ie a few large 1M-3M sells go up at 16.5c and are promptly taken out by a buyer

2. Richard Oh resigns from the company (thank god he was really dragging his feet) and now we get a chap who is head of Ascot Securities who were the brokers behind the cap raising and who from what I gather got the Chinese Steel Mill on board

Could be a corporate play at hand, whatever it is will be interesting to see how it plays out, 15c looks like its a breakout point chart wise with next target of 20c


----------



## YOUNG_TRADER (7 July 2009)

Its simple really all you have to do is join the dots


It all started a few weeks back

27/5  Old management (Richard Oh) given the boot, new chairman who is a principle of Ascot Securities (the brokers behind ACS) appointed

29/5 Large share transactions at a very large premium go through almost 9M, turns out Rich Mark Development bought 7M at an avg price of 16c-17c

11/6 ACS gains 100% control of Mt Gibson for peanuts

6/7 Accelerated drilling and resource development program at Mt Gibson
Rich Mark acquires 1M shares off mkt at 20c note share price at the time is 15c so 30% premium
Rich Mark also acquires 10M 31s July 2010 12c options for 13c each, this implies a price of 25c per share

Whats happening here? well it looks to me like RichMark see's alot of value in ACS and is prepared to apy 17c - 20c and even 25c for the shares

The purchasing of the 10M options for 13c is the biggest vote of confidence as far as I'm concerned

And why do they see so much value? Well in 2006 when the Iron ore price was about what it is now so well before the hype, MGX sold Extension Hill which had 250Mt's of Magnetite for $50m  ACS are targetting between 300Mt's-500Mt's

If we use the MGX sales as comparative value then at the lower end Mt Gibson is worth $50m and at the high end $100M to ACS = 45c - 90c

Not hard to see why Richmark are so interested in buying all the stock they can


----------



## YOUNG_TRADER (7 July 2009)

ok so correction MGX sold 73% for $52.5m so 100% would have been worth $72m

So given ACS are targetting 300Mt's-500Mts mag 

and the deal was done in 2006 prior to the whole Iron Ore price craze we can say that 

A low case 300Mts would be worth at least $72m = 65c ACS

to a high case 500Mts worth $144m = $1.30 ACS

no wonder RichMark wants in at these depressed prices


----------



## stu_lee44 (7 July 2009)

YT,glad to see your post here again.
From what I know, ACS will soon recover to 25c.Maybe it's only rumor,but definately there's another company who would like to takeover ACS.
I don't think the data in 2006 still works here,but we can see CXM.Last Dec,WHS would like to pay 0.18c/ton.I assume ACS has 300m to 500m tons potential.So the value should be 540m$-900m$,which equals 40c-67c.


----------



## YOUNG_TRADER (8 July 2009)

Well I once speculated that RichMark had Chinese links due to the director being chinese, now we have this


"Appointment of Director
Accent Resources NL is pleased to advise that it has agreed to appoint Mr. Jun Sheng (Jerry) Liang as a non executive director together with Mr. Jie You as his alternate. Mr. Liang is a director and principal of Rich Mark Development (Group) Pty. Ltd.
*Rich Mark Development (Group) Pty Ltd (“Rich Mark”) is a company specializing in iron ore and steel trading and shipping, and has been importing iron ore to China* from Australia, Brazil, Canada, South Africa and India since 1997. *Rich Mark is a principal shareholder in two steel mills in China *with total production in 2008 of over 6 million tons. It expects to import over 6 million tons of iron ore in 2009 for the consumption of these two steel mills. Rich Mark also has strategic investments in iron ore mines, shipping, ports and banking in China.
Accent believes this appointment should considerably enhance its strategic prospects going forward and in particular the development and prospects of its flagship project at Magnetite Range."



So really join the dots, we have a Chinese Steel/Iron Ore trader buying up a heap of shares in ACS at a premium to current prices, looks like their steel mills need feeder ore

ACS maybe in play I reckon watch and see


----------



## YOUNG_TRADER (8 July 2009)

Its also worth remembering that the last time a group built a position in ACS it was another Chinese Steel Group Golden Bell and the share price ran up to 55c from 15c can history repeat itself twice?

RichMark are only at 11.84% another 8% or *if they exercise those 12c options they will have around 18%* but then Golden Bell will be slightly diluted so they may perhaps buy more to go back up to 19.9%






YOUNG_TRADER said:


> Well I once speculated that RichMark had Chinese links due to the director being chinese, now we have this
> 
> 
> "Appointment of Director
> ...


----------



## happytown (19 August 2009)

nice magnetite intersection down hole ann'd today 225m, from 61m, true width approx 150m

pity the tenement doesn't extend a little further down strike

assays will be interesting

cheers 

another quality post brought to you by happytown inc


----------



## YOUNG_TRADER (19 August 2009)

and now it all becomes clear why the Chinese were buying


When you look at it with hindsight no wonder Rich Mark wanted so many so quick


"6/7 Accelerated drilling and resource development program at Mt Gibson
Rich Mark acquires *1M shares off mkt at 20c* note share price at the time is 15c so 30% premium Rich Mark also acquires *10M 31s July 2010 12c options for 13c each*, this implies a price of 25c per share

Whats happening here? well it looks to me like RichMark see's alot of value in ACS and is prepared to apy 17c - 20c and even 25c for the shares

The purchasing of the 10M options for 13c is the biggest vote of confidence as far as I'm concerned"


And why do they see so much value? Well in 2006 when the Iron ore price was about what it is now so well before the hype, *MGX sold Extension Hill which had 250Mt's of Magnetite for $50m *ACS are targetting between 300Mt's-500Mt's

*If we use the MGX sales as comparative value then at the lower end Mt Gibson is worth $50m and at the high end $100M to ACS = 45c - 90c*

Not hard to see why Richmark are so interested in buying all the stock they can"


and its that last bit that gave it away, buying 10M 12c options for 13c when the share price was 15c, speaks volumes doesn't it


----------



## YOUNG_TRADER (19 August 2009)

many are quick to criticize Magnetite deposits and they are right with most as the cap ex requirements are enormous but ACS are not a play on a developing Magnetite Producer but rather a Chinese take over play, always have been

The 3 key things that separate ACS from most other magnetite minnows is

*Reasons 1 and 2* are 2 separate Chinese Steel Groups have bought and taken substantial positions on ACS's registry, one bought last year from 20c-55c I cant remember what the avg price was, the other who I have no doubt is linked to the same 1st group has been buying like crazy as per my post above


*Reason 3* is that Magnetite range is next door to ie adjacent to Extension hill which Mt Gibson sold to the Chinese for $50m back in 2006 and it was only 230Mts

The Chinese need critical Mass ie 1Bt's to get that project off the ground thus will require more ore form next door ie ACS's Magnetite range


So this is why ACS doesnt need to firm up 1Bt's or 2Bt's Like CXM CFE or ARH


*Low Case: 230Mt's is worth $50m = 45c-50c ACS

Medium Case: 500Mt's worth $100m = 95c-$1 ACS

High Case: 750Mts worth $150M = $1.40 - $1.50 ACS*


Now these are just my thoughts and nothing is guaranteed but does make for an interesting story to unfold, been waiting awhile though


----------



## YOUNG_TRADER (19 August 2009)

Guys just realized my figures are all wrong so apologies


Sinom bought Extension Hill from Mt Gibson for $52.5m but MGX only owned 73%

This changes everything as that means 100% of the 230Mt resource was worth $72m

So *Sinom paid $72M for 230Mts Mag at Extension Hill in 2006* prior to the iron ore boom

http://www.asx.com.au/asxpdf/20061018/pdf/3z1dvg32bjdqn.pdf



*ACS look to be targeting 450Mts - 750Mts *

based on Sinom transaction

*450Mts worth $140m = $1.30 ACS

750Mts worth $234m = $2.15 ACS*




As before please note that these figures are only indicative of what Sinom may pay if ACS can prove up a resource at Magnetite range, there's no guarantee that Sinom will pay this much but even $50m, $70m or $100m would be nice dollars for ACS


----------



## stu_lee44 (20 August 2009)

YT, MGX case was 2 years ago. The market has changed a lot after that. I guess we could use CXM case. That's the bottom of the market. Wu Steel paid $0.18c/tonne.

450mt=81m$=75c
750mt=135m$=$1.25

But this is a takeover game. 2 years ago, Golden Bell would like to pay 50c and now I guess 35c around.




YOUNG_TRADER said:


> Guys just realized my figures are all wrong so apologies
> 
> 
> Sinom bought Extension Hill from Mt Gibson for $52.5m but MGX only owned 73%
> ...


----------



## YOUNG_TRADER (20 August 2009)

yeah agree that it was then and this is now

but there are 3 note worthy points

1. The MGX deal was pre the big IO boom as it was done ealry 2006

2. Sinom need ore to reach critical mass = maybe desperate

3. CXM project is first for the area = alot of infrastructure requirements etc etc
so reckon it was done on the cheap side

But still using CXM deal you got 

*
450mt=81m$=75c
750mt=135m$=$1.25*


Honestly Id be happy with 50c-60c


----------



## stu_lee44 (20 August 2009)

Hi YT,
What will happen if Richmark get over 20% stock?I remembered there were only 4 million shares to break 20% since Juky 15.



YOUNG_TRADER said:


> yeah agree that it was then and this is now
> 
> but there are 3 note worthy points
> 
> ...


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## happytown (10 September 2009)

acs have been undertaking a 12,500m drilling program (7,000 RC/5,500 diamond core), with assay results pending (thickest intersection reported to date approx 150m [true]), all building up for a maiden jorc resource estimate (originally expected sep/dec qtr)

once the jorc is released, YT's t/o scenario?

cheers 

another quality post brought to you by happytown inc


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## Lucky_Country (10 September 2009)

Lets see what they have in their resource drilling.

I feel we maybe pleasantly suprised with the results and could easily have a substantial project on their own basis.


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## frugal.rock (16 February 2021)

Have been watching this one a little bit and it seems to be the most illiquid and tightly held stock I have ever witnessed...

Can anyone explain why?
Someone must be lurking on it...


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