# Iron Ore Plays - Discussion



## Damuzzdu (4 July 2007)

Thought I start a new thread about Iron Ore plays in general. 

To get this started I will list the stocks that I'm following with a website link for each of those companies. These are smaller type companies. 

Iron Ore seems to be one of the hotter sectors right now, just like Uranium was until a few months when it started to cooled off. U seems very much on the nose part from MTN

Other things in here we might discuss might different type of Iron Ore plays haemetite vs magnetite and the various benefits of each and what companies can do to sell these, grades and the where the general industry is heading.

List of companies: 

ADY http://www.ady.com.au/
AQD http://www.ausquest.com.au/
BCI http://www.bciron.com.au/
CFE http://www.capelam.com.au/
CAV http://www.carnavaleresources.de/public/text.asp?sid=2&mm=24&msub=10&lid=2&mid=1410
CAZ http://www.cazalyresources.com.au/
CUL http://www.cullenresources.com.au/
FWL http://www.ferrowest.com.au/
FMG http://www.fmgl.com.au/
GXY http://www.galaxyresources.com.au/
GBG http://www.gindalbie.com.au/
GWR http://www.goldenwestresources.com/
GRR http://www.grangeresources.com.au/
GUJ http://www.gujaratnre.com.au/
IRM http://www.ironmountainmining.com.au/
IOH http://www.ironoreholdings.com/
IFE http://www.ironcladmining.com/ (new listing soon)
JMS http://www.jupitermines.com/
MIS http://www.midwestcorp.com.au/
MAK http://www.minemakers.com.au/
MGX http://www.mtgibsoniron.com.au/
MMX http://www.mml.net.au/
PMM http://www.portman.com.au/
POL http://www.polarismetals.com.au/
RHI http://www.redhilliron.com.au/
RVR http://www.redriverresources.com.au/
ROY http://www.royalresources.com.au/
SRK http://www.strikeresources.com.au/
SDL http://www.sundanceresources.com.au/
TTY http://www.territoryiron.com.au/
UMC http://www.unitedminerals.com.au/
WPG http://www.westernplainsresources.com.au/index.html

Specific discussion about the companies should be left on their own thread, but maybe comparsion of various companies could be discussed here. Size of mines, JORC's, PFS, BFS etc 

Cheers
Muzz

PS: I've left out BHP and RIO as they are more diversified miners.


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## stefoid (4 July 2007)

atlas iron, AGO


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## kgee (4 July 2007)

Australasian resources ARH


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## alankew (4 July 2007)

Lincoln Minerals-LML,looking for just about everything including Iron ore


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## Damuzzdu (4 July 2007)

Ok, 

Their details,and a few more:

AGO http://www.atlasiron.com.au/
ARH http://www.austresources.com.au
BTV http://www.bataviamining.com.au/index.php?pagename=Home
RMI http://www.resmin.com.au/

Cheers
Muzz


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## badmarty (4 July 2007)

For sure, hot sector right now, I been watching AGO, IRN AND MGX for last few months all doing very well, AGO's share price has doubled in the past 2 months!!!!!


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## gfresh (4 July 2007)

Another: ICN - http://www.iconenergy.com

I hold a good holding in MMX, SDL, and POL, and banking heavily on the sector - so hope at least one or two of them do nicely in the next 6-12 months! 

MMX is my leader at the moment.. I think that has very solid gains ahead, risk is getting less and less.


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## Damuzzdu (4 July 2007)

badmarty said:


> For sure, hot sector right now, I been watching AGO, IRN AND MGX for last few months all doing very well, AGO's share price has doubled in the past 2 months!!!!!





Have a look at PMM, now that's the type of share price you want, and what do you know up again this morning to $10.45.

Cheers


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## doogie_goes_off (4 July 2007)

If you think CFE looks good have a look at the FXR announcment about Iron ore prospects and the size of their magnetic anomalies compared to Cape Lambert. Also PLV has small Iron Ore prospect on an island off WA next to ****atoo Island where Portman are already producing. Both interesting to me, potential plus, but you'd have to be in for the long haul to do any good if they come up trumps. I hbold FXR so the iron ore angle for them is a bonus for me.


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## Crash (4 July 2007)

You may want to add Yilgarn Mining (YML) to the list too.  They look to be moving to really focus on Iron Ore now.


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## Damuzzdu (4 July 2007)

Crash said:


> You may want to add Yilgarn Mining (YML) to the list too.  They look to be moving to really focus on Iron Ore now.




Thanks Crash, I will have so many to do DD, I wont be able to sleep 

YML http://www.yilgarnmining.com.au/ (for the ref)

Cheers
Muzz

PS:

AQA: http://www.aquilaresources.com.au/ (I missed it from my list in sanford...must have been asleep)


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## Damuzzdu (4 July 2007)

gfresh said:


> Another: ICN - http://www.iconenergy.com
> 
> I hold a good holding in MMX, SDL, and POL, and banking heavily on the sector - so hope at least one or two of them do nicely in the next 6-12 months!
> 
> MMX is my leader at the moment.. I think that has very solid gains ahead, risk is getting less and less.





Thanks gfresh, yep on the list now. 

cheers


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## jet328 (4 July 2007)

Great thread

Any good links to "iron ore outlook reports" where they usually give a run down of the sector and forecast supply/demand equation like other metals? These usually make good background reading.

I'm currently looking for 2 or 3 quality ones for the bottom of the drawer.

For long term holders, I think the following will be key

-*location, location, location* (transport is more important for iron ore than other metals as it makes up a significant part of the cost)
-*size* (to justify the capex and spread the cost base)
-*quality of deposit*
-*management*


Cheers


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## YOUNG_TRADER (4 July 2007)

Hey Damuz,

Nice thread, 

Iron Ore certainly appears to be the new Uranium


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## sleeper88 (4 July 2007)

CBH's constance range iron ore project in QLD 

http://www.cbhresources.com.au/exploration/constance-range.htm
non JORC by BHP of 250MT @ 52% Fe


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## CanOz (4 July 2007)

Yes, great thread...i've noticed a few Iron Co. breaking out or looking like breaking out soon too.

Heres one i posted on another thread...still waiting for it though.

Cheers,


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## Damuzzdu (4 July 2007)

jet328 said:


> Great thread
> 
> Any good links to "iron ore outlook reports" where they usually give a run down of the sector and forecast supply/demand equation like other metals? These usually make good background reading.
> 
> ...




Jet,

Thanks for yr support. Agree 100% on yr 4 key points. I might start to collate some data on these stocks on the first 3 points and post as soon as I ready, so that comparsion of stocks in this sector will be a bit easier, but now I have many more to do DD on. 

Cheers



YOUNG_TRADER said:


> Hey Damuz,
> 
> Nice thread,
> 
> Iron Ore certainly appears to be the new Uranium




Tks YT,

Appreciated yr sentiment.

Yes, agreee if Iron Ore gets as hot as U was some of these plays could rocket and make Iron Ore the mineral of 2007-2008.

YT, yr research on some of these stocks is right out of the top draw, keep it up.

Cheers
Muzz


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## Damuzzdu (4 July 2007)

CanOz said:


> Yes, great thread...i've noticed a few Iron Co. breaking out or looking like breaking out soon too.
> 
> Heres one i posted on another thread...still waiting for it though.
> 
> Cheers,




CanOz,

I think not only has MGX has been helped by the sector, but going into the ASX200, starts to bring it onto the radar of the big fund managers, who have to track the ASX200.

Thus, this brings in more money, and keeps driving the price higher. It is sort of like a rolling stone, onces it starts it is v.hard to stop.

Cheers
Muzz


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## CanOz (4 July 2007)

sleeper88 said:


> CBH's constance range iron ore project in QLD
> 
> http://www.cbhresources.com.au/exploration/constance-range.htm
> non JORC by BHP of 250MT @ 52% Fe




Another one to wait for...waiting, waiting...can someone teach me patience?

Cheers,


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## jet328 (7 July 2007)

Any views on *Magnetite* compared with *Haematite* ores?

I found this snippet in a BBY report




			
				BBY report said:
			
		

> Over the past 12 months emerging magnetite concentrate / pellet companies have underperformed
> significantly the emerging hematite producers including FMG, MMX and MIS which have seen price
> increases >300%, whereas GBG’s share price has only increased by 19%. We are of the view this
> underperformance is not justified given key considerations including (i) GBG has access to key road, rail
> ...


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## moneymajix (7 July 2007)

I don't think Prosperity Resources has been mentioned.
PSP - 15c


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## gfresh (7 July 2007)

CanOz: nice spot there on CBH - will be keeping an eye on this one


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## Love Zn (9 July 2007)

I've started a spreadsheet based on what Muzza posted and some points from Jet, maybe to try and compare some of these Iron Ore shares.

I didn't see the 60 minutes program last night, but going by some of the threads and the reaction to some of these share prices today, especially AGO, it reinforces what we already know. Iron shares are HOT at the moment.

I'm trying to learn more about Iron Ore and get a better understanding I hope, as to why some shares have taken off and why others others haven't, yet seem better eg. BTV was $1.90 at the end of fin year with market cap approx $41M with no JORC reported that I can see and GBG was just over $1.00 with market cap $520M, with JORC and BFS on the way.

I haven't researched all the companies in the list, maybe others would like to add information they know or suggest what could be added.  You will also notice a worksheet Possible Dollar Return (PDR), this is my first attempt at trying to use this and I'm not sure if I'm correct.  So maybe someone could comment on that too.  I meant to add a comment to the Market Cap, these were all recorded on the same night, last week but unfortunately I didn't record the date.

As a disclosure of my Fe shares, I own GBG and MGX and have day traded CUL.  My thoughts are GBG appears under valved to some of these other shares.

But hopefully others with more Iron Ore experience will share their thoughts here too, about some of the other companies.


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## reece55 (9 July 2007)

Love Zn said:


> I've started a spreadsheet based on what Muzza posted and some points from Jet, maybe to try and compare some of these Iron Ore shares.
> 
> I didn't see the 60 minutes program last night, but going by some of the threads and the reaction to some of these share prices today, especially AGO, it reinforces what we already know. Iron shares are HOT at the moment.
> 
> ...




Thanks LoveZn, perhaps we should call you LoveFe!!!!

Good way to compare those out in the market, long live the Pilbara!!!

Is there anyone with geological experience who could comment on the spreadsheet/projects presented? I also believe that GBG is undervalued when considered against it's peers, however not being a Geo, it's hard for me to properly assess the projects on their independent merit.

Cheers


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## fishomc (9 July 2007)

I have pinched this from the other site as a i feel it is a good summary of Polaris and points out the great potential, especially with favourable views on iron ore in coming years. 

"Hey guys I have spent the best part of the last two weeks (when I haven’t been reporting on FNT) trying to find the next big thing in the iron ore segment. And I think that POL might be the next one to take off. The criteria that I was using to test this was a *simple business plan that has been executed beautifully by MMX/MIS, that is start with a smaller direct shipping ore (DSO) project to provide cash flow and earnings to help fund a major iron ore expansion project.*

With targets like the *Massive Ashburton Project (1200mt of iron ore)*
*Near Term Cashflow from Poondano (Late 2008)*
Plenty of Drilling News Upcoming
*Major Shareholder Lion Group *(very deep pockets, will fund projects and sign offtake agreements)
*Royalty agreement with Portman*
*Upcoming spinoff of non iron ore assets (in-specie distribution of shares to existing holders, rumoured to 1 for 5)*


There is the potential for POL to run hard on release of news due to tight capital structure and current sentiment in the Iron Ore segment.


First a look at the share structure


Ordinary Shares 81,305,625
Options 20c Dec 08 20,749,977
Shares Held in escrow 29,729,730

Fully dilluted market cap approx $52mill.

Share Price 09/07/07 52.0cents


Top Shareholders

*Herron Resources 29,729,730
Lion Group 16,558,330*



Reasons To Buy Into the POL Story

- Well funded, tight stable capital structure (*2 top shareholders control almost 50% of the company*)
- *Cash $5.5 million *
- *Investments 10 million shares in NTU worth 15 million*
- Upcoming drilling results from Goldsworthy iron ore prospect
- Release of Poondano Pre_Feasability Study
- *Enormous Prospective landholding (near major RIO,BHP mines)*- Near term cash flow from Poondano late 2008
- *Recent history of major iron ore discoveries*
- *Close to excellent infrastructure*
- *Massive Ashburton tennement (scoping study complete target 1200mt)*
- *Already signed royalty agreement with Portman involving tennements close to existing Portman mines.*
- *Listing of non iron ore projects into new company ( creating greater shareholder wealth)*

Summary of tenements held

As a result of the acquisition of iron ore assets from Heron Resources Ltd (ASX: HRR, “Heron”)
in 2006, and the intended acquisition of a tenement package from International Goldfields Ltd
(ASX: IGC, “IGL”) as announced by IGL on 28 February 2007, Polaris will hold or have a
beneficial interest in 104 granted tenements and 34 tenement applications covering a total area of
6,400km² within the prime Pilbara and Yilgarn iron and gold provinces of Western Australia.
The specific projects and their mineral potential are listed in the attached table and include
advanced iron ore projects with near term development potential, iron ore exploration projects,
advanced gold projects and other gold, nickel and base metals exploration projects. Some of the
IGL tenements have measured and indicated gold resources and some Polaris advanced gold
tenements have gold mineralisation ready to be drilled out to establish resources complying with
the JORC Code.



Current focus

Poondano

Undergoing pre_feasibility study for the development of a 1 million tonnes per annum DSO project (low cost high margin)

Current resource 10-15 million tonnes


Carina and Chamaeleon Deposits

SIGNIFICANT NEW IRON ORE DISCOVERY WITH UP TO 65.5% FE
60KM NORTH OF KOOLYANOBBING, WESTERN AUSTRALIA
POLARIS BELIEVES 50MT DSO TARGET NOW ACHIEVABLE
• Carina Deposit, 60km NNW of Koolyanobbing, 1.6km long and up to 150m wide
outcropping mineralisation, has target potential of 35-50Mt iron ore, with:
− microplaty hematite and sub-crops of specular hematite;
− average 61.6% Fe, 2.57% SiO2, 0.73% Al2O3 and 0.078% P (direct
shipping grades) in rock chip samples from northern 1.1km of the deposit;
− best grade 65.5% Fe, 1.74% SiO2, 0.67% Al2O3 and 0.04% P;
• Chamaeleon Deposit comprising goethite-hematite outcrops with microplaty
hematite, has target potential estimated from surface sampling to be 5-10Mt;
• Other targets, including extension of Portman J4 Deposit into Polaris tenements;


Goldsworthy Deposit

Goldsworthy Project (Polaris earning 70% Leviathan Resources Limited 30%) Target 65 MT
The Goldsworthy Iron Ore Project comprises exploration licence E45/2358 covering 120km² and contiguous with BHP Billiton’s Mt Goldsworthy mining leases. 
The area is favourably located near existing transport infrastructure. Although mining at Mt Goldsworthy ceased in 1982, the rail link to Port Hedland has been maintained, and is currently used by BHP Billiton for transporting ore from the Goldsworthy Extension Project in the Shay Gap area 50-100km further to the east. In addition the area is easily accessible from Port Hedland via the sealed Great Northern Highway. 
E45/2358 is held by Leviathan Resources Limited, a wholly owned subsidiary of Perseverance Corporation Limited. Under an agreement with Leviathan, Polaris can earn a 70% interest by funding $2.5 million in exploration activities over four years. 
The 3,000m RC drilling program is planned principally to test concealed iron ore targets identified through reconnaissance gravity surveys, geological mapping and regional structural interpretation. High priority iron ore targets have been identified where interpreted iron formations exhibit gravity highs and magnetic lows along favourable regional scale faults. 
Other drilling targets in the area are considered to have potential for nickel-copper deposits similar to the nearby Highway deposit (recorded 37Mt with 115,000t nickel, 44,000t copper). Some targets are also considered to have potential for gold and/or platinum deposits. 



And finally the massive potential of Ashburton, potential for 1200mt


Ashburton Project
The Ashburton Project consists of four granted exploration licences that cover 532km² located
between 10km and 40km directly south of the Rio Tinto Paraburdoo iron ore mine in the
southern Pilbara region of Western Australia. The area is considered prospective for transported
iron ore deposits such as buried Robe pisolitic channel iron deposits (“CID”) or surficial ironrich
gravels in palaeodrainages which extend in a southwesterly direction away from the ranges
hosting the Paraburdoo iron deposits (Figure 2).
Heron previously investigated areas of raised iron-rich palaeodrainage material and submitted
samples from five shallow pits for gravity separation test work. For the +4.075mm fraction, the
3.3SG sink product averaged 60.6% Fe, 6.3% SiO2, 2.25% Al2O3 and 0.09% P. The sink product
for the -4.075mm +1.00mm fraction had similar Fe (59.77%), lower SiO2 (4.86%); but higher
Al2O3 (4.20%). The mass recovery of +1.00mm material was in the order of 20%.
As previously reported, consulting engineers Project Development and Management Services
Pty Ltd (“Prodemas”) were engaged by Polaris in January 2007 to conduct a scoping study of the
project, based on available data, and to recommend future work programs. Prodemas has now
completed a report on the study, with favourable conclusions.
The scoping study assumption was a detrital iron target potential in the range 600Mt to 1200Mt,
based on an estimate of the area of surficial gravel beds mapped within the Company’s
exploration licences, and the reasonable expectation that the depth of the gravel beds ranges from
3m to 6m. At the 20% recovery indicated by Heron’s earlier test work, the +1.00mm iron ore
target potential could be inferred to be in the range 120Mt to 240Mt.
After incorporating likely capital and operating costs in their scoping study, Prodemas concluded
that the area has the potential to be a viable iron ore mining operation, and recommended further
geological and metallurgical investigations. Among the key strengths of the project noted by
Prodemas were its location close to existing plant and infrastructure, its large scale target
potential (potential to support 10MTPA operation over 20 years) and the low phosphorus content
of the +1.00mm beneficiated material making an attractive blending product.
The Prodemas study also identified the potential for possible hidden Robe pisolite type CIDs in
the project area.
The Ashburton Project has the potential to feature prominently in Polaris’ iron ore strategic planning.


Bungalbin Iron Ore Project (Portman operator, Polaris 2% royalty)

The Bungalbin Iron Ore project is situated near the Mt Jackson iron ore mining operations of Portman Limited, about 50km north of Koolyanobbing.
The project is currently being explored by Portman in accordance with an agreement wherein Portman has the right to explore for, and if and when mining leases are granted, mine iron ore.
If Portman delineates iron ore deposits and commences mining on tenements the subject of the agreement, it is required to pay a royalty to Polaris at the rate of 2% of the FOB value it receives for all iron ore transported from the tenements and sold.


Would be interested to hear peoples thoughts on POL, there is so much more news that I could of included just mentioned a couple of their 138 tenements (all in prime Iron Ore elephant country)

*POL reminds me very much of MMX/MIS about 12-18 months ago and we have all seen how they have developed. *

POL is just at the beginning with plenty of cash and very prospective land holdings could be plenty of upside from here.

Good management including the MD Kevin Schultz who is the man responsible for the discovery of the Carr Boyd Nickel Copper/Mine (which is well known by all YML holders)."

well worth a look at ;-)


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## stefoid (9 July 2007)

ROY is starting to run on GBGs coattails.  JV with GBG - they hold territory surrounding GBGs near term DSO project.

also some pilbara land won in ballot, and some sort of US uranium JV soon to be announced.

I like this one, very small cap.  ROYA options are the way to go.


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## Love Zn (9 July 2007)

reece55 said:


> Thanks LoveZn, perhaps we should call you LoveFe!!!!




Well I made my money on the likes of ZFX, KZL and PEM, still holding ZFX, but thought about a month ago it was time to get into some iron.



reece55 said:


> Good way to compare those out in the market, long live the Pilbara!!!




Well I'm hoping the Mid West is the next Pilbara


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## Damuzzdu (9 July 2007)

Attached is a pdf file of a scan run across 41 Iron Ore companies (smaller ones) from the opening price at the start of this FY (ie last Monday).

As you will see there are some impressive gains already this FY. (I can see YT researched stocks showing some the better gains !!)

Best gains are at the bottom.

Cheers
Muzz


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## steven1234 (10 July 2007)

IFE will be listing tomorrow (Wednesday) at 1.00pm.  IFE has JORC 44mt with 300-600mt potential.  

The IPO was oversubscribed.  It will be interesting to see what premium it opens at (if it does open at a premium).


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## KIWIKARLOS (10 July 2007)

I believe its all about location, our market is primarily export which means it needs to be north- west and it needs to be close to existing infrastructure.
Quite a few of these smaller players have great looking ground in the middle of nowhere! chances of actually going from dirt to working mine withing the expected -7 years of iron ore boom will be virtually impossible. 

Thats why the pilbara region is so good, the big boys are already set up, they won't buy a brand new unworked piece of land away from their existing stuff its just not economic. Besides BHP and Rio have announced they plan to spend billions expanding the area.

Who knows if it was the 60min report that did it but i think there is now alot more attention on the Iron ore and Pilbara region in general now becuase of the reasons above.


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## YELNATS (10 July 2007)

stefoid said:


> ROY is starting to run on GBGs coattails.  JV with GBG - they hold territory surrounding GBGs near term DSO project.
> 
> also some pilbara land won in ballot, and some sort of US uranium JV soon to be announced.
> 
> I like this one, very small cap.  ROYA options are the way to go.




The options look interesting, codes are ROYO expiry 11/11/07 and ROYOA expiry 11/07/09, 20c exercise price in each case. regards YN


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## dj_420 (10 July 2007)

couple people asking for this table

i got it from hotcopper, originally it was published somewhere but links have been removed. this one has been edited slightly for UMC by the person posting.

acknowledgement to joelbaby who posted this table on hotcopper


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## 56gsa (11 July 2007)

jet328 said:


> Any views on *Magnetite* compared with *Haematite* ores?  I found this snippet in a BBY report




Jet - I think this is an interesting question and an important distinction to be aware of for people investing in iron ore plays.  MIS and to a lesser extent now MGX were basing their future success on the initial hematite profits funding bigger magnetite projects.  Yet there are still many questions about magnetite imo.

*The first is can anyone tell me of any magnetite project currently operating in Australia (either processing or direct shipping)?*

Now take those points in your BBY report Jet - there appear to be a few inconsistencies - let's put the adv alongside the disadv

(i) GBG has access to key road, rail and port infrastructure (granted loading slots at Berth 5 and dedicated Berth 7 for the Karara project development) giving the project a distinct advantage over emerging projects that require significant expenditure on infrastructure 
_but (c) projects are not scaleable without significant new capital expenditure. [eg (i) forgets the costs of a slurry pipeline, power plant?]_

(ii) after adjustments for mining waste to ore ratios of 0.5:1 and beneficiation waste to ore ratio of 2.7:1 the Karara 1,300Mt magnetite resource is equivalent to a large 500Mt @ 69%Fe hematite deposit with a strip ratio of 3.2:1
_but this leads to (b) higher processing costs per unit of output _

(iii) that magnetite concentrate / pellets have excellent exothermic characteristics and generally lower impurities ideal for steel making 
_[depends on the feedstock - higher impurities in feedstock means more costs in processing to get lower impurities - this is what makes many of these projects uneconomic]_

(iv) prices received for concentrate and pellets are at significant premiums to fines and lump ore respectively 
_but of course because (a) higher capital intensity per unit of output + (b) higher processing costs per unit of output _

(v) better processing environmental behavioural characteristics when compared to iron ore fines sintering 
_[after the original ore's been processed already]_

(vi) that GBG by mid 2008 plans to be a profitable small-medium sized hematite ore producer. 


On average pellets cost 2-3 times more than equivalent hematite production, but prices received are 10% and 40% higher for lump and fine ore respectively and generally 2-5% higher iron grade.


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## steven1234 (11 July 2007)

IFE listed today and rose dispite a weak market (and its magnetite).  

Subscription price of $1.00

Opened at $1.52.

Closed today at $1.47.

Does this confirm that Iron is the new uranium?


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## sup3rK0ala (11 July 2007)

Did someone mizz out HLX....


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## popy (11 July 2007)

Royal Resources i think will soon be talked about a bit more with adjacent tenements to GBG. Small market cap. A lot of potential. Smart management.Encouraging sp movement of recent times. Anyone agree??


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## doogie_goes_off (12 July 2007)

FYI: Australian Bulk Minerals mines magnetite and exports pelletised ore from Savage River (NW Tasmania)

PLV has benefited from all the interest in Iron ore - up another ~13% today


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## macca (13 July 2007)

I thought I would add TRH Transit Holdings to the list.

Very speculative as it is early days yet, but with the mania for Iron Ore and the huge area TRH has with such a small market cap, any success could have big results.

If you go to their prospectus, you can see an experts opinion on their leases. Quite close to a PMM mine which means that infrastructure is not too bad.

Warning : Very Speccy, DD required


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## Love Zn (14 July 2007)

Damuzzdu said:


> Attached is a pdf file of a scan run across 41 Iron Ore companies (smaller ones) from the opening price at the start of this FY (ie last Monday).




Muzz could you run another scan please and add AXO (last two days huge increase ).  Would be interested seeing how they are all going after another week.

Or could you tell me how you did the scan in Metastock, I'm still new to the program.

Thanks.


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## Love Zn (15 July 2007)

I found a scan that is close to what you did last time.


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## 56gsa (17 July 2007)

doogie_goes_off said:


> FYI: Australian Bulk Minerals mines magnetite and exports pelletised ore from Savage River (NW Tasmania)



thanks for this doogie - this is the only magnetite operation I've heard of - did a google on it http://www.ivanhoe-mines.com/s/NewsReleases.asp?ReportID=11997&_Type=News-Releases&_Title=IVANHOE-MINES-AND-ABM-MINING-AGREE-TO-MERGE-TO-CREATE-AN-INTERNATIONAL-MINI... 

interesting note the grades of the ore - over 50% which is more like haematite grades, and well above the magnetite people are playing with in WA...  they also have a 83km slurry pipeline over what i presume is mountainous terrain which suggests that technology is viable....


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## YOUNG_TRADER (18 July 2007)

Mr Twiggy just raised Half a Billion AUD thats *$500m* via a placement at $36 for FMG 

Looks like the Iron Ore boom has alot of deep pocket backers!


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## Spaghetti (19 July 2007)

Have been watching Crusader Holdings. Had already a huge run when I first came across it so I was waiting in the wings. Not many shares available before suspension. Has now requested suspension from official quotation pending company annoucement.

Recent announcement for their Iron Ore project in Brazil.

Posse and will form the main target of the drilling. To date, the itabirite has been mapped over a strike length of over 750 metres with the width varying between 50 and 200m. The sampling of the itabirite displayed a large variation in Fe grade- with values ranging from 39.9% to 68.8% Fe. Moderate to high associated silica appears to be present in the form of free quartz. The key to the economics of the itabirite will be the ease with which the silica can be liberated to form a high-grade fines concentrate. This
procedure (by various different methods) is common within most itabirite mines in the Iron Quadrilateral.

Crusader has recently awarded the drilling contract and it is set to commence with 2 rigs expected to arrive on site this Monday the 16th of July. A third rig will follow a week to 10 days later which will complete the expected program of 1,000 metres of diamond drilling in about 40days. Site works have started in preparation for the drilling. Crusader will be able to drill only where previous earth works have taken place. An application for an environmental license allowing unrestricted access is underway,
however, it is not known if this license will be granted before the due diligence deadline. Nevertheless, the planned drilling will enable Crusader to test the most important targets of the project.

The Posse project is located 30km from Belo Horizonte, the capital city of Minas Gerais state. A national highway runs through the tenement and there is ready access to power and water. Belo Horizonte is a major city providing infrastructure to the well established mining industry in the area.
There are several large and smaller steel mills in the region, which have the potential to offer the project different options for the sale of ore. Crusader believes there is a ready market for all types of product identified so far from the Posse Iron ore project. Crusader is looking to appoint an independent specialist to assess various treatment and downstream options available in the area.

The Iron Quadrilateral is Brazil’s most important iron ore area, with host to many iron and gold mines. CVRD (a world class Brazilian mining company) mined 182 million tonnes of iron in 2006 from five separate mines in the Iron Quadrilateral. Brazil is the second largest producer of iron ore in the world and has the largest reserve base- being in excess of 61 billion tonnes.


_*Looking at their anoucements they also have interest in gold, uranium, tin  etc. Recent press article from the age, business day 25th June, 2007* _

ANDREW Forrest has made his billions by moving into the Pilbara backyards of BHP Billion and Rio Tinto with big-time iron ore ambitions of his own. 
Crusader Holdings is not in the same league as Forrest's Fortescue but there is no doubt it is winning over some fans for its move into the backyard of the world's biggest iron ore producer, Brazil's Companhia Vale do Rio Doce (CVRD).

Previously covered in Garimpeiro for the Brazilian gold ambitions of its chief executive, Rob Smakman, the tightly held Crusader has picked up an option over an iron ore prospect in Brazil's famed "Iron Quadrilateral", which contains dozens of iron ore mines.

The option is over the Posse Iron prospect in the northern part of the quadrilateral. High-grade hematite ore at the prospect was recently uncovered during upgrade work on a local highway.

Smakman, who is based in Brazil, jumped on the opportunity when the exposed mineralisation was shown to be hosted within a typical banded iron formation (locally known as itabirite).

He told the Australian Stock Exchange that the itabirite appeared to be the same as the other major mines from the area. Limited sampling by the vendors included results of more than 61 per cent iron.

A fast-tracked due diligence program is now under way, with geologists on site mapping and sampling in preparation for drilling. Posse lies 30 kilometres from Belo Horizonte, the capital city of Minas Gerais, and a hematite-finding highway runs through the tenement. So there will be no hardship payments to the exploration crew.

Should it shape up, Crusader will pay the vendors a total of $3.4 million ”” a small amount given the leverage the deposit could deliver.


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## Love Zn (20 July 2007)

The biggest movers for this week were HLX, MAK and still CUL


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## surfingman (23 July 2007)

I have had Iron ore holdings on my watch list for a few weeks and today I just watched it unfortunately up 58%.... Iron ore is going skywards going to do some research on some more iron ore companies I think...


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## Damuzzdu (25 July 2007)

Guys,

Here is an updated pdf(s) to the list I first uploaded on 9th July.

I've included a few additional companies as requested.

Two files are provided, one alphabetical, the other sorted by % change with the biggest gainers at the bottom.

Some great gainers there, esp CUL and ADY

Cheers
Muzz


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## stormbringer (25 July 2007)

SDL - was 0.07 in march and now trading around 0.52, after another jump today of 14%. The one that got away, for me anyway.


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## gfresh (25 July 2007)

I think there will be plenty of scope to buy into SDL at around 48c in the next few days, after the initial burst after the halt slows down.. People seem worried that they 'missed the boat', when a sign like that shows there can be months more monentum to go..No results yet either, that's when you'll see that boat set sail. 

MMX is down 4% after it's similar institutional capital raising, halt, rise, then drop this week. It's back below the ann. Shrug.


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## doogie_goes_off (25 July 2007)

Dammuzzdu - maybe you could include Pluton Resources (PLV) on your list, I mentioned it on this thread but it's not on the list. For the year it has gone from $0.30 to $1.40, in my calculations thats > 400% increase for the year to date so it has outperformed all the Iron Ore stocks you mentioned. Maybe I should have mentioned the raging share price before (people may have been interested then) - there is a short PLV thread too for those who are interested. Thanks.


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## Love Zn (25 July 2007)

Dammuzzdu's scan is "Financial" Year-To-Date, so only the last 24 days.

Yes PLV has done well, but not the best for this FYTD (so far), probably ranks around 3rd or 4th


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## Damuzzdu (25 July 2007)

doogie_goes_off said:


> Dammuzzdu - maybe you could include Pluton Resources (PLV) on your list, I mentioned it on this thread but it's not on the list. For the year it has gone from $0.30 to $1.40, in my calculations thats > 400% increase for the year to date so it has outperformed all the Iron Ore stocks you mentioned. Maybe I should have mentioned the raging share price before (people may have been interested then) - there is a short PLV thread too for those who are interested. Thanks.




Doogie,

Yep added in PLV (tks for heads up), it appear on next update. FYI, it (PLV) is ranked 4th (til last night) with % increase for this FY of 51.087%.

Cheers
Muzz

BTW nick only only "M", two "Z".s


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## surfingman (25 July 2007)

CXM is also a good one in my opinion:


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## Pommiegranite (25 July 2007)

Guys,

While investigating Aurox Resources, I found the attached broker report which compares AXO, GBG, CFE, GRR & ARH.

Its an interesting read as it covers issues such as energy requirements and resource sizes. 

It also has some background info on the differences between Hematite, Magnetite and Titanomagnetite.


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## Damuzzdu (25 July 2007)

Pommiegranite said:


> Guys,
> 
> While investigating Aurox Resources, I found the attached broker report which compares AXO, GBG, CFE, GRR & ARH.
> 
> ...





Pommiegranite,

Excellent research paper..many thanks. Some good bedtime reading there.

Are u a member of "State One" to receive this ???

Cheers
Muzz


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## Pommiegranite (25 July 2007)

Damuzzdu said:


> Pommiegranite,
> 
> Excellent research paper..many thanks. Some good bedtime reading there.
> 
> ...





No, a link to this is provided on Aurox's website. Although, I do believe that its not a commisioned report (you have to be careful as some are!)

http://www.aurox.com.au/newsroom/research.php


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## Love Zn (25 July 2007)

Pommiegranite said:


> Although, I do believe that its not a commisioned report (you have to be careful as some are!)




Interesting reading, but yes you do need to be careful, when they get paid to promote a share. And the disclaimer indicates that they MAY have been paid.

Have read elsewhere that slurry transport ie adding water, reduces the value of the ore, depends on quality of water.

Also that only compares the Magnetite mines, the likes of GBG will also have a Hemetite DSO up and running in 2008, next to the Magnetite mine.  Probably energy saving costs and other mine infrastructure shared which was not included in the report when comparing costs.


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## Damuzzdu (1 August 2007)

OK, here's a different look.

We know we have thru a decent fall, but how far have some of those stocks in the Iron Ore sector that we have been following really fallen???

Ok, here's the answer...scanned Iron Ore plays from Open on 24th July to close tonite.

Some big moves down here, just shows that even thou the sector is hot it is not amune from taking just as bigger hit as any other sector.

Does this correction gives us all an opportunity to enter those stocks that had run hard, and we were fearful of chasing them, only to be caught pay the top price. I wonder????

I certainly will be targeting 1 or 2 that is for sure.

Cheers
Muzz


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## springhill (3 August 2007)

Report in the West Australian newspaper today that the state govt may lock up the whole Mt Gibson, or parts thereof, from mining all together. All over a few rare plants!! Possibly setting a dangerous precedent throughout the whole Mid-West region. Would be interesting to know which companies have Iron Ore tenemants in the Mt Gibson area? And potential ramifications? Personally i think this situation is a load of crap! Denying the people of WA revenue due to the presence of rare flora! Thoughts?


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## Sean K (3 August 2007)

springhill said:


> Report in the West Australian newspaper today that the state govt may lock up the whole Mt Gibson, or parts thereof, from mining all together. All over a few rare plants!! Possibly setting a dangerous precedent throughout the whole Mid-West region. Would be interesting to know which companies have Iron Ore tenemants in the Mt Gibson area? And potential ramifications? Personally i think this situation is a load of crap! Denying the people of WA revenue due to the presence of rare flora! Thoughts?



I just read an MGX ann that said they had been granted permission to start their infrastructure project. Why that, and not be able to mine?


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## jtb (3 August 2007)

I mentioned this on the FWL thread yesterday and there is another article on page 10 of today's paper.

Basically says Mount Gibson will get the go ahead but the rest of the region may become protected.

Unlike the Pilbara and Goldfields the midwest comprises broadacre farmland and is world renowned for its wild flowers.
It is also much closer to population areas so the ugly face of iron ore mining is far more apparent to the masses who don't often venture far from the city. 
Hence a political arena.


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## Pommiegranite (3 August 2007)

jtb said:


> I mentioned this on the FWL thread yesterday and there is another article on page 10 of today's paper.
> 
> Basically says Mount Gibson will get the go ahead but the rest of the region may become protected.
> 
> ...




The 'ugly face of iron ore' is the lifeblood of those populations. Many work in the industry. I just cannot for the life of me see the WA government committing politcal suicide for the sake of a few flowers.


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## MS+Tradesim (3 August 2007)

Guys,

Be *EXTREMELY* careful with the State One reports. I am a very close follower of ADY, have been for years, and know it back to front in terms of projects, timetable, resource, value etc. State One recently did two reports on ADY, both were wildly inaccurate - the kindest comment I can make. Triple check their claims and conclusions against company reports/announcements.


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## Sean K (12 August 2007)

Kings Minerals (KMN)

I don't think this one's been discussed because it's thought of as a gold company. It actually has 2 major projects, gold in Mexico with a JORC and a polymetalic project (Kalman) in Mt Isa due for JORC in the next 2-3 months. It also has an potential haematite project as part of its tenament package at Mt isa called Mt Philp. This project has no rating at all in it's current market cap.

The Mt Philp strike is currently estimated to be 4km long 100m wide and 100m deep that gives 4,000x100x100 = 40m. Assuming a density factor of 3 = 120 Mt's @50%-60%Fe. 

The drilling was completed in March but the assays have not been released. This information is from their latest roadshow presentation. Unusual that they have put grades up here, but not released the drilling, so I am a little warey...

Mt Philp is very overlooked by all. The only analysts reports on KMN have barely considered Kalman, and not even mentioned Mt Philp. Very early days, but one to investigate perhaps. 

(holding KMN - mostly for Kalman potential)


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## moneymajix (20 December 2007)

Ann. today from UOG

*Sydney - Thursday - December 20:* (RWE Aust Business News) -
Uranium, Oil & Gas (ASX:UOG) has made additional application for
exploration licences to cover parts of the Frere iron formation, eastern
Nabberu Basin, Western Australia.
Exploration will commence on ELs 69/2475 and 69/2476 when the
licences have been granted.
In particular EL69/2476 contains iron formations prospective for
iron ore.


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## blobbob (20 December 2007)

It could be a long wait for these licenses to be granted.


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## jackson8 (20 December 2007)

at last count aproximately 76 companies listed on asx which have a finger in iron ore , most of which are junior explorers, a few actually mining dso and quite a few wanabes with magnetite resources
to me seems impossible to keep track of them all and know which ones to invest in
also seems that the big players sp have been quite volatile over last month or so
with trouble in usa taking the shine off even the most prudent producers
is it possible that we may not see the returns of companys like fmg again for some time, apart from the volatility of the juniors and their drill results
is the shine comeing of iron ore due to the shear numbers of explorers in the market and the abundance of reserves australia has including magnetite which still looks like being a number of years away before any large scale production


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## Miner (31 May 2020)

Hi @Joe Blow 
This thread has been inactive for more than 13 years and similar threads on iron ore are on.
May be time to close this one?
THanks


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## Telamelo (15 April 2021)

Mount Gibson *MGX* share price closed above 50dma yesterday (bullish sign) with quarterly report due on 21/04 & perhaps a nice divvy to come (on the back of high iron ore prices).

Came across this analysis below:

REWARDS​


> Trading at 85.8% below our estimate of its fair value





> Revenue is forecast to grow 22.7% per year


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## Telamelo (17 April 2021)

Telamelo said:


> Mount Gibson *MGX* share price closed above 50dma yesterday (bullish sign) with quarterly report due on 21/04 & perhaps a nice divvy to come (on the back of high iron ore prices).
> 
> Came across this analysis below:
> 
> REWARDS​



From AFR-

The price of 65 per cent quality, Brazil-origin fines reached a record high on Thursday, up 3 per cent to $US211.10 a tonne, according to Fastmarkets MB.

While China has sought to curb emissions in the steel-making city of Tangshan by restricting production, demand has remained robust, particularly for higher grades of iron ore.

Big profit $$ margins being made by *FEX* & *MGX* at these 10-year high record iron ore prices!


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