# WYX - Western Yilgarn



## yogi-in-oz (23 May 2007)

Hi folks,

IRM ... yet another IPO, that may be worth observing from the sidelines,
until around 02 July 2007, when the first positive time cycle should
come into play for this stock ... 

happy days

 paul


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## Wysiwyg (18 June 2007)

*Re: IRM - Iron Mountain*

I was posted a prospectus *when I did not request it* .

I have never been sent a prospectus without applying for one.

The issue price was 20c and they are now 15.5c.

I suppose I`ll not get to see the monkeys face that sent them out.Strange how they aren`t doing so well when most other IPOs have done so well.

No I didn`t take the set up.:behead: To the monkey on my back.


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## YOUNG_TRADER (26 June 2007)

*Re: IRM - Iron Mountain*



Wysiwyg said:


> I was posted a prospectus *when I did not request it* .
> 
> I have never been sent a prospectus without applying for one.
> 
> ...




This is the exact reason why I stayed away from IRM, they posted a prospectus to my parents who rang me for advice, my father owns shares in AMP and my mother Coles, why on earth would you post them a prospectus, it was very underhanded if you ask me and as my parents know very little about stocks they thought it to be the next RIO of Commodity stocks, 

Anyway, not too much I see interesting over here,

But what do I know, 

Good luck to all


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## BlingBling (26 June 2007)

*Re: IRM - Iron Mountain*

I was also sent a letter from them offering me a part in the float. I thought it was really strange given the current market situation & them trying to round up investors that way. Needless to say, I didn't jump in!


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## surfingman (26 June 2007)

*Re: IRM - Iron Mountain*



YOUNG_TRADER said:


> This is the exact reason why I stayed away from IRM, they posted a prospectus to my parents who rang me for advice, my father owns shares in AMP and my mother Coles, why on earth would you post them a prospectus, it was very underhanded if you ask me and as my parents know very little about stocks they thought it to be the next RIO of Commodity stocks,
> 
> Anyway, not too much I see interesting over here,
> 
> ...




That surprises / worries me a little Young Tader that you are not interested with the current Iron Ore demand, *Could sending prospectus to a list be the work of their sponsoring broker of the IPO?* 

Also you were/are a holder of RVR which has a close link with IRM.

IRM / RVR Joint Venture, Tasmania Iron ore project which has been aero magnetic surveyed recently and results will be released to market in the very near term. The second link to RVR: 

DAVID ALAN ZOHAR
Director and Company Secretary
He has been active in the exploration industry for over 20 years. He has been a director and/or CEO of a number of exploration companies and has also negotiated numerous agreements with various companies and other participants within the mining industry. He has been involved in the formation and/or listing on the ASX of several public mining companies and is currently a director of ASX listed Red River Resources Limited and Uranium Oil and Gas Limited.

Their various tenement holdings around WA which are close to some companies of interest (FWL, JMS, MGX) with the Mount Richardson mine having aero magnetic survey completed very shortly and a team of field workers visiting as we speak, with 1 and possibly 2 new land holdings not released to market as yet. I done a little research last week, I got some options because of the expiry date (feb 2012) / directors / and projects currently on hand.


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## UPKA (26 June 2007)

*Re: IRM - Iron Mountain*

I think the market is more interested in near term producers. IRM is still a junior explorer, so it may be a while be4 it takes off. I think Mick might post his view here when hes ready.


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## mick2006 (26 June 2007)

*Re: IRM - Iron Mountain*

Hey Guys at the same time I was looking around iron ore juniors and found POL, I also came across the recently listed IRM, has some really exciting exploration plays in iron ore, copper, gold, manganese.  

When considering investing in IRM remember it is very much a junior iron ore play that is currently sampling tennements to define drill targets, so it will be a couple of months before drilling begins.  But saying that often the better investments are when you get in at the ground floor. 
Remember DYOR!!


Very well funded with the IPO raising $8million for exploration of some possibly huge iron ore tennements.

Very much under the radar listed just before the focus shifted to iron ore.

Excellent website, with a video presentation outlining the companies vast array of projects.



*Capital Structure.*

Shares 67,200,003 
Options 40,725,000

Undiluted Market Cap $12,768,000


*Some of the reasons to hold IRM*

*-Very well funded $8 million cash*
-Not that many shares on issue
-grassroots explorer yet to be discovered by the broader market
-Already sampling projects, with drilling to follow
-All projects close to major infrastructure
*-Major projects near tennements owned by companies such as RIO,MGX,PMM,FWL,JMS,CFE*
-Already had success in current round of sampling (see announcements below)
*-Massive targets Miaree Project has the potential for a Magnetite Deposit of 1.5-2 billion tonnes*. 


*Miaree Project*


HAEMATITE ENRICHMENTS IDENTIFIED ON MIAREE
MAGNETITE TREND, KARRATHA REGION, WESTERN
AUSTRALIA.
IRON MOUNTAIN TO PROCEED WITH JOINT VENTURE
• High-grade results including assays up to 61.6% Fe from surface rock chip sampling on the Miaree Magnetite Trend.
• Several zones of haematite enrichment.
• Iron Mountain Mining Limited to proceed with JV covering the Miaree Magnetite Trend.
Iron Mountain Mining Limited (ASX: IRM – “Iron Mountain”) is pleased to announce preliminary surface rock chip sampling, carried out during late May in the Miaree Project area on haematitic iron enrichments within the Cleaverville Formation.
The sampling was carried out by Red River Resources Limited (ASX: RVR.-.Red River Resources) prior to the announcement of the Heads of Agreement between Red River Resources and Iron Mountain Mining covering work on the Miaree Magnetite
Trend near Karratha.The enrichments are located adjacent to the North West Coastal Highway and carry values of up to 61.6% Fe. To the North East the Cleaverville Formation hosts the Cape Lambert Magnetite resource while the Balmoral magnetite project lies a short distance to the south west.




IRON ORE EXPLORATION JOINT VENTURE WITH IRON MOUNTAIN MINING LIMITED
• Agreement for Iron Mountain Mining Limited to earn up to 70% of iron ore rights at two Red River project areas in Western Australia.
• Exploration targets include large-scale magnetite deposits at Miaree, near the Cape Lambert magnetite deposit, and hematite at Wongan Hills.
• Joint Venture consistent with Red River’s focus on its Feral Hematite Prospect in the Mid West region of WA.
Red River Resources Limited (ASX: RVR – “Red River Resources”) is pleased to announce that it has reached agreement with Iron Mountain Mining Limited (“Iron Mountain”) to farm into the iron ore exploration rights at two of Red River’s Western Australian projects.
Under a Heads of Agreement between the companies, Iron Mountain can carry out exploration for iron ore at Red River Resources’ tenements in the following regions of Western Australia:
• the Miaree Magnetite Trend in the Karratha area, Pilbara region; and
• the Wongan Hills Project, located 130 kilometres north-east of Perth in the Mid West region.
Under the terms of the HOA, Iron Mountain can earn up to 70% of the iron ore rights over these tenements for a total expenditure of $4.75 million.
Subject to completion of due diligence and execution of an exclusive option to enter into the Joint Venture, the agreement would enable iron ore exploration within these areas to be significantly accelerated. The Joint Venture is consistent with Red River’s focus on its Feral Hematite Prospect in the Mid West region, where it is preparing to commence drilling later this year.
MIAREE
The Miaree Magnetite Trend lies within the Kaninda East (EL47/1309) and Kaninda West (EL/08/1350) Exploration Licences (see Figure 1). The tenements comprise approximately 30 kilometres strike length of Cleaverville Formation, a magnetite-rich geological unit which also hosts the Cape Lambert magnetite deposit, located approximately 60 kilometres to the east. Significantly, the aeromagnetic field strength at Miaree is similar to that at Cape Lambert.
Published magnetite grades at Cape Lambert are in the range of 40-45% and, based on the geophysical similarity, potential magnetite grades over the Miaree Magnetite Trend are inferred to be at similar levels. An aeromagnetic map of the eastern part of the Miaree Magnetite Trend is displayed in Figure 2.
Modelling of the aeromagnetic data suggests that the Miaree Magnetite Trend hosts mineralised widths of up to 200 metres (see Figure 3). Conceptually, the exploration target for the Miaree Magnetite Trend is 1.5-2 billion tonnes of magnetite-bearing rock grading on average 40-45% magnetite, based on the following parameters:

*Strike length
30,000 metres
Average width
100 metres
Mineable depth
200 metres
Bulk density
3
Magnetite grade
40-45%*



*BLYTHE RIVER PROJECT*

The company’s main project, the Blythe River Project, is located near Natone approximately 10km from the deep water port of Burnie in Tasmania. Previous exploration for iron and copper on the Company’s tenements has identified potentially economic
magnetite and haematite mineralisation. The company has entered into a joint venture with Red River Resources Limited, an ASX listed company, to explore this project.

*MT RICHARDSON PROJECT*

This tenement is located close to *Jupiter Mines *Ltd’s Mt Mason and Mt Ida projects. The tenement contains known mineralisation for iron and copper. The project area encompasses several ironrich
banded iron formations offering a large prospective target area. Samples of *high-grade haematite up to 67% Fe *have been recovered. The geological setting also suggests that the tenement is prospective for gold. Systematic testing of structural
targets is planned.


*BONA WELL PROJECT*

The project is located approximately midway between *Mt Gibson Iron Ltd’s Wolla Wolla project and Ferrowest Ltd’s Yogi project*. Geological mapping and aeromagnetic imagery of the project area show prospective banded iron formations of up to 7km of
strike. Thrust faulting which has resulted in multiple, sub parallel banded iron formations is a further indication of prospectivity for iron mineralisation. The project is an early stage exploration opportunity to explore for iron ore in an easily accessible and
favourably located area.


*WINDARLING EAST PROJECT*

Exploration of this tenement, once granted, will focus on the banded iron formations in the Jackson Greenstone belt which elsewhere hosts economic iron deposits. Geological mapping of the project area and aeromagnetic data indicate the possibility of multiple banded iron formations within the tenement covering
up to 5km of strike. The project is located approximately 20km to the east of the haul road linking *Portman Mining Ltd’s *Windarling resource to its Koolyanobbing plant site.

*KUNANALLING PROJECT*

Aeromagnetics and Landsat imagery of the project area indicate the possibility of up to a 20km of strike of banded iron formations.
This project is an early stage exploration opportunity to explore for iron ore.


*WYLOO PROJECT*

This tenement partly covers the Boolgeeda Iron Formation, the uppermost unit of the Hamersley Group and is surrounded by a number of major iron ore projects in the Pilbara region of Western Australia.

Would be interested to hear peoples thoughts!!


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## greggy (26 June 2007)

*Re: IRM - Iron Mountain*



mick2006 said:


> Hey Guys at the same time I was looking around iron ore juniors and found POL, I also came across the recently listed IRM, has some really exciting exploration plays in iron ore, copper, gold, manganese.
> 
> When considering investing in IRM remember it is very much a junior iron ore play that is currently sampling tennements to define drill targets, so it will be a couple of months before drilling begins.  But saying that often the better investments are when you get in at the ground floor.
> Remember DYOR!!
> ...



Hi Mick,

Thanks for providing all this information.  You put a lot of work into it and I fully appreciate your efforts.

On the weekend I was looking around for an overlooked iron ore stock having missed out on buying both FWL (one of YT's great tips) and POL (one of yours).  Hence, I came across IRM.  Looking through its prospectus they were seeking a minimum $2.5 million, but got $8 million instead.  They could have got more should they have wanted to.  
$8 million equates roughly to about 12 cents per share cash.  This means that over half its current share price is covered by cash, not often seen in today's climate. 
It is an iron ore focussed stock in a sector that is starting to run hot.  Many people I know are switching out of uranium and moving into iron ore.  IRM has multiple interesting prospects in sound locations.  
The board is very experienced.  Its website for a junior explorer is excellent as its extremely informative.    
Today I bought 150,000 IRM shares and 100,000 options.  The options expire in 2012 which is a long way away. IMO IRM is arguably one of the cheapest iron ore specs going around at current market cap.
Its shares had a good day today rising 2.5 cents to 19c on turnover of over 1 million and the options up 1.7 cents to 9c. 
DYOR


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## mick2006 (26 June 2007)

*Re: IRM - Iron Mountain*

with the current huge amount of funds flowing into the iron ore sector, along with the long term price outlook it comes as no surprise that the market is finally having a closer look at IRM.

Yes it is a very speculative stock, and is only in the sampling stage before commencing drilling later in the year, but their timing is perfect by the time they start releasing drill results the focus will be firmly on the iron ore sector again due to the yearly price setting discussions.

Judging by the increase in volume we might be seeing the first signs of interest in IRM.

Below is a snippet from mining news tonight confirming the positive views for iron ore going forward.

Analysts are tipping another strong year in 2008 for iron ore, with a Citigroup report forecasting 20% growth in the price of the commodity on the back of continued strong Chinese demand. 

The most conservative analysts from Merrill Lynch were tipping a 9.5% price rise for the next year.


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## motion (26 June 2007)

*Re: IRM - Iron Mountain*

G'day, 

Some excellent points here Mick. Thank you again for brining this to our attention I look forward to this stock growing... 

Mick is correct this is a speculative stock, but it’s got some good management and great timing behind it so who knows where this can. 





mick2006 said:


> with the current huge amount of funds flowing into the iron ore sector, along with the long term price outlook it comes as no surprise that the market is finally having a closer look at IRM.
> 
> Yes it is a very speculative stock, and is only in the sampling stage before commencing drilling later in the year, but their timing is perfect by the time they start releasing drill results the focus will be firmly on the iron ore sector again due to the yearly price setting discussions.
> 
> ...


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## countryboy (26 June 2007)

*Re: IRM - Iron Mountain*

IRM is one that i have been looking at along with PSP. both are pushing up at present due to i believe a flow of funds looking for the next round of Iron ore plays. i don't hold a position in either. As a few have mentioned they have been looking around at Iron ore explorers ......another area with resources in iron ore is SA around Whyalla Anyone know of explorers in this area?I have seen one

Hold FWL ADY in iron ore


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## Spaghetti (26 June 2007)

*Re: IRM - Iron Mountain*

Will be interesting to see if yogi-in-oz is on the money

Almost July and a positive cycle for Iron Mountain.


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## surfingman (27 June 2007)

*Re: IRM - Iron Mountain*

IRM is moving today, options up 33% and Shares 23%  I only got my order half filled!!!

Blue sky share price and Volume, good luck on this one, not sure why its running so quick except for ASFers...


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## motion (27 June 2007)

*Re: IRM - Iron Mountain*

Trading halt until friday... well I wounder what news is coming out... some very big buys this morning must have inside information....

Any wanna comment ?


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## wildmanchris (27 June 2007)

*Re: IRM - Iron Mountain*

Trading Halt - I had an order to buy these guys at $0.16 and cancelled it a week ago.

Bet ya it's good news knowing my luck!!!


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## surfingman (27 June 2007)

*Re: IRM - Iron Mountain*



wildmanchris said:


> Trading Halt - I had an order to buy these guys at $0.16 and cancelled it a week ago.
> 
> Bet ya it's good news knowing my luck!!!




Possibly a release of new property/s they have attained or the release of aero-magnetic results from Tasmania. I don't know for sure but i know that it could be either of these.


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## mick2006 (27 June 2007)

*Re: IRM - Iron Mountain*

Looking at the wording of the response of the asx price query, it is either the results of the magnetic survey or hopefully some more very encouraging rock chip sampling.

In the current environment if they were to have some more hits at >60% Fe, this could go even higher


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## mobcat (27 June 2007)

*Re: IRM - Iron Mountain*

Thanks for the heads up on this one guys was fortunate enough to pick up a nice size parcel on opening this morning looks to be worth the effort atm the ann will tell a story of pure pleasure for all holders i fell as we all probally allready no you wouldnt put a TH on a negative ann would ya food for thought


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## greggy (27 June 2007)

*Re: IRM - Iron Mountain*



mobcat said:


> Thanks for the heads up on this one guys was fortunate enough to pick up a nice size parcel on opening this morning looks to be worth the effort atm the ann will tell a story of pure pleasure for all holders i fell as we all probally allready no you wouldnt put a TH on a negative ann would ya food for thought



I re-read Mick's informative post again today. I noticed in particular "..Conceptually, the exploration target for the Miaree Magnetite Trend is 1.5-2 billion tonnes of magnetite-bearing rock grading on average 40-45% magnetite.."   That's a huge figure. IMO, although very early days, this highlights the company strong potential and is one of a number of interesting projects.  IRM's projects are all in good locations.      
According to IRM's response to the ASX Query, they are preparing an announcement detailing the company's recent exploration activities. Hopefully, there will be some positive news coming through shortly.  Good timing considering that iron ore has become the hottest sector around at present. IRM finished up 3 cents to 22 cents for the day  on solid turnover of over 1.5 million shares before the trading halt.  The options went up 3 cents to 12 cents. IMO IRM is in a bullish uptrend as it reached a new record high today in a bleak market. Other iron ore specs that I looked at didn't do too badly either.
Thanks once again Mick.  
Any thoughts from any chartists out there in relation to where IRM might go from here?
DYOR


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## alankew (27 June 2007)

*Re: IRM - Iron Mountain*

Mick public thanks for highlighting this.I was already on it via the IPO and was dissapointed with its debut and think that its underperformance has put this off peoples radar however if you had been on this on day one you may have noticed several bids for reasonably large parcels(100k)go through.Didnt affect the price as there were too many disspaointed punters willing to get out at any cost near to 20c and and also there was plenty of stock available as the top 20 only hold 40% which has all helped to keep the price down.One week too soon for me Mick but did manage to top up prior to TH-actually tried to buy double what i bought but got cold feet


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## stiger (27 June 2007)

*Re: IRM - Iron Mountain*



mick2006 said:


> Looking at the wording of the response of the asx price query, it is either the results of the magnetic survey or hopefully some more very encouraging rock chip sampling.
> 
> In the current environment if they were to have some more hits at >60% Fe, this could go even higher




Mick I feel you could be pretty close to the mark,as they are preparing recent exploration activities.It may turn out that Yogi's opening  post on trhis thread may be bang on the money.Cheer, DYOR.


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## motion (28 June 2007)

*Re: IRM - Iron Mountain*

ANN has come out with RVR this morning and trading holt lifted...

ANN reads .. Further Encouraging Results at Blythe, Miaree & Wongan Hills Projects.

My copy and Past is not working = dope...


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## mobcat (28 June 2007)

*Re: IRM - Iron Mountain*

10.40 est shes on again goodluck guys it could be a nice run on opening with the sector looking for undervalued plays big time


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## mobcat (28 June 2007)

*Re: IRM - Iron Mountain*

Bit of a flop today i would say a bit of nervous management caused this dont no why they just didnt let it run yesterday when it had momentum very strange maybe they want them all for them selves i got my fill at levels i didnt think we would see again today a day like today dosent take away from what is in the ground ..........the day in the sun will come just a matter of time imo


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## motion (28 June 2007)

*Re: IRM - Iron Mountain*



mobcat said:


> Bit of a flop today i would say a bit of nervous management caused this dont no why they just didnt let it run yesterday when it had momentum very strange maybe they want them all for them selves i got my fill at levels i didnt think we would see again today a day like today dosent take away from what is in the ground ..........the day in the sun will come just a matter of time imo




Yep I feel the same management should have lets this run normal as it was not big news... But it was a nice report and whats going on.... I'm not sure why the market did not respond to it once it went back into trading as RVR had a nice little run this morning. 

There is always tomorrow...


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## mobcat (28 June 2007)

*Re: IRM - Iron Mountain*

Maybe CUL had all the oreie attention today as a rule i can never make much sense of late june and dont even try to work it out you will go mad trying .......................good time to take a holiday late june did last year and thoroughly enjoyed myself what am i doing here must be mad


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## greggy (29 June 2007)

*Re: IRM - Iron Mountain*



motion said:


> Yep I feel the same management should have lets this run normal as it was not big news... But it was a nice report and whats going on.... I'm not sure why the market did not respond to it once it went back into trading as RVR had a nice little run this morning.
> 
> There is always tomorrow...




Hi motion,

It was indeed a positive report.Sampling at Blythe returned encouraging iron grades of up to 66.4 Fe. Sampling at Miaree extended the zone of known iron mineralisation.  At Wongan Hills sampling oulined an area of interest for iron mineralisation.  
The good thing about IRM is that it has a suite of interesting iron ore projects
in good locations.  It is also cashed up having raised $8 million from its float.  The last time I checked it was up 1c (5%) to 21c today on reasonable turnover.
DYOR


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## mick2006 (29 June 2007)

*Re: IRM - Iron Mountain*

For those holding or interested in IRM, there is an 8 minute audio presentation on Boardroom Radio taken yesterday.


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## motion (29 June 2007)

*Re: IRM - Iron Mountain*



mick2006 said:


> For those holding or interested in IRM, there is an 8 minute audio presentation on Boardroom Radio taken yesterday.




Thanks Mick, I will have a listen... It seems there has been some interest latley... Thanks again for all the info it's always appreciated....


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## greggy (30 June 2007)

*Re: IRM - Iron Mountain*



mick2006 said:


> For those holding or interested in IRM, there is an 8 minute audio presentation on Boardroom Radio taken yesterday.



Thanks Mick 2006.  It was a very interesting presentation.  Its good that its directors like to keep investors up to date.  So many others fail to do this.  Its website is excellent.  
Interest has certainly increased this week as the iron ore sector is getting hotter.  Whilst the iron ore sampling results have been impressive to date, I can't waiting for drilling to start on its projects. After a strong run up in the past week its share price has held up very well.
Any other thoughts out there? Also, could some of the chartists out there give an idea as to where it could go from here?
DYOR


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## greggy (7 July 2007)

*Re: IRM - Iron Mountain*

Good morning All,

Last weekend I asked Keith Whitehouse, MD of IRM, a series of questions via email.
This was his response:

1.  When will drilling take place on IRM's projects, and at which projects first?

IRM currently is assessing all its tenements in order to decide which projects should be drilled first. A priority listing was given in the IPO but that listing is being reviewed in the light of the new JV with Red River Resources, current exploration results and the availability of drilling equipment.

2.  Has the company been approached by potential major JV partners (e.g. Fortescue, BHP, RIO, Chinese etc) in relation to projects where it has a 100% interest?

Iron Mountain is of currently of the opinion that we have to have some substance (such as resources) to the projects before we conduct meaningful negotiations and that we have sufficient funds to take projects to a level where negotiations will return greater benefits to shareholders.  That said the Company has been approached by several potential Asian JV partners and we are continuing discussions.

3.  Is the company looking at acquiring further projects where there's already a significant iron ore resource?

The company will review any projects brought to its attention and assess such projects to determine if they would be beneficial to the shareholders.

4.  IRM has been overlooked by the market when you consider its huge potential, significant cash levels and excellent management.  Has the company considered doing a broker roadshow in order to increase interest?

IRM has carried out roadshows since listing and will continue to do so as more exploration information becomes available.

Regards,



Keith Whitehouse

MAusIMM, CP (Geology)

Managing Director

Iron Mountain Mining

ACN 112 914 459


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## mick2006 (7 July 2007)

*Re: IRM - Iron Mountain*

Thanks Greggy always good to hear from companies management.  Shows that they value their shareholders.


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## camaybay (7 July 2007)

*Re: IRM - Iron Mountain*

Thanks Mick for your email. IRM response to Greggys email said they have to prove the goods before any party is interested although contact has been made. It will take considerable time to produce marketable tanglable assets. I am confused with the company structure between RVR and IRM.  I would prefer an investment like Target (TEX) who have runs on the board and still in the 20 cent range. 
Only my GF.     :bier:
Cheers
DYOR


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## motion (9 July 2007)

*Re: IRM - Iron Mountain*

Well it seems IRM has taken off this afternoon. anyone care to comment on why IRM might have some movement up 10% so far with some good volume going through....


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## greggy (9 July 2007)

*Re: IRM - Iron Mountain*



motion said:


> Well it seems IRM has taken off this afternoon. anyone care to comment on why IRM might have some movement up 10% so far with some good volume going through....




Since reaching its recent new high, IRM has had a bit of a pullback.  Perhaps some bargain hunting is going on.  Iron ore stocks are fairing well.
DYOR


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## mobcat (9 July 2007)

*Re: IRM - Iron Mountain*

Guys it could be IRM,s time for a day in the sun all the pointers are pointing IRM,s way atm iorn ore is hot atm and this baby is a good junior play imo with lots of good anns in the making and a small mcap and the market looking for iorn ore plays IRM is going to pop up in a lot of new blood research wouldnt be at all suprised to see a spike this week on the back of sentiement alone good luck to holders


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## mobcat (11 July 2007)

*Re: IRM - Iron Mountain*

Guys i had to dump today nothing to do with the company just not my cup of tea atm a op popped up and i had to dump the 400k you get that some times hard call with this one but it all turned out good for me and thats the grand plan at the end of the day ......i will be back just a matter of time so take no notice of todays movements shes a good hold this one imo


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## motion (11 July 2007)

*Re: IRM - Iron Mountain*

hey mobcat, 

Thanks for the info not many trades today, held up well with the market being low, but it has been alittle slow latley I hope this baby kicks off soon.... it has good projects and management behind it...

Good luck on the new project


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## motion (8 October 2007)

*Re: IRM - Iron Mountain*

wow up 98% on ann High grade iron found.... This is amazing. this has been a dead duck for so long.. have dusted this one off
..
From Ann: 

Three zones of iron mineralisation have been defined within a sequence of Banded Iron
Formation (BIF) and ferruginous sediments. At the Iron Mountain Prospect rock chip
samples averaged 61.3% Iron (Fe) over two kilometers of strike, at the Mt Alfred
Prospect rock chip samples averaged 58.5% Fe over 2.8km of strike. Within the Brooking
Prospect mineralisation was traced over a 4km strike with rock chip samples averaging
59.14% Fe. The zones vary in width from 5 to 30m with an average in the order of 20m.
The location of samples and the prospect areas are shown in Figure 1.


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## mick2006 (8 October 2007)

*Re: IRM - Iron Mountain*

Typical I was looking into IRM again yesterday, thinking to myself they must be the only iron ore company not to have a run, and then look at today one announcement and they are up over 100%.

Oh well thats the market I guess, was lucky to make money on them a couple of months ago.


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## motion (8 October 2007)

*Re: IRM - Iron Mountain*

Yep Mick I know how you feel I hold but was thinking I must top as it was @ low 0.15c but what a great run up 150% on excellent news... is a good move for the company as it's got great projects as highlighted in your earlier post...

Lets hope it's able to stay @ this range....


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## doogie_goes_off (8 October 2007)

*Re: IRM - Iron Mountain*

No doubt it is having an ecxellent run, but at these widths there would want to be low strip ratio and the detail on the orientation of the banded iron was no where to be found, buyer beware! Drill results and intersections should clear up any smoke and mirrors. Good grades and low impurity none the less.


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## alankew (8 October 2007)

*Re: IRM - Iron Mountain*

All i can say is wowBeen in this IPo and sold heads for a small loss but kept the free(?)options and also topped up but at a higher price than todays open but thats all changed now.Up 140% and keeps changing evry second,incredible am now up about 70%-Bizarre.I think one of YTs picks RVR had some venture/tie up with these,might be worth taking a look


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## motion (8 October 2007)

*Re: IRM - Iron Mountain*



doogie_goes_off said:


> No doubt it is having an ecxellent run, but at these widths there would want to be low strip ratio and the detail on the orientation of the banded iron was no where to be found, buyer beware! Drill results and intersections should clear up any smoke and mirrors. Good grades and low impurity none the less.




Doggie_goes_off makes a very good point this is all based on rock chip sampling and not drilling samples, this is yet to come. I see drilling starts mid october.... I'm lucky I held through the good and bad times, so more good or bad news will come once the drilling has taken place and we have results on the samples. ..

I also think the market is looking for some news and places to make quick money @ the moment with the market still alittle unsure @ the moment...


----------



## alankew (8 October 2007)

*Re: IRM - Iron Mountain*

Couldnt resist and sold half my holding so now its a free play.Cant see this holding on to such incredible gains in the short term but will kick myself if it does.Am kicking myself now-up to 25c


----------



## motion (8 October 2007)

*Re: IRM - Iron Mountain*



alankew said:


> Couldnt resist and sold half my holding so now its a free play.Cant see this holding on to such incredible gains in the short term but will kick myself if it does.Am kicking myself now-up to 25c




Yep same here alankew I'm sure I will kick myself as well but I also now free hold options and heads, will be an interesting week to see the out come.


----------



## doogie_goes_off (8 October 2007)

*Re: IRM - Iron Mountain*

Make hay while the sun shines and plant seeds when it rains. I think free holding half and topping up later prior to first drill results may work well if you wish to accumulate.


----------



## Who Dares Wins (8 October 2007)

*Re: IRM - Iron Mountain*

Well for what its worth i got right out of this a short while ago at 35cents. It could go on but its been a good run for the day so I'm very happy. 
However now I know they have something if it slides over the next couple of weeks I'll get back on again.

I'm a little surprised that given its very positive news, and the market certainly thinks so too, that they didnt go into a halt for this.


----------



## doogie_goes_off (8 October 2007)

*Re: IRM - Iron Mountain*

Maybe they will go on halt if they get around to drilling a near surface intersection or two at these grades, because they are impressive, the market just over-reacted a little.


----------



## KIWIKARLOS (8 October 2007)

*Re: IRM - Iron Mountain*

one word springs to mind... Ridiculous !

I have never seen such a speculative frenzy before! i keep getting the feeling that it will retract alot after this. I mean the ann wasn't good enough to warrant 300% !


----------



## motion (8 October 2007)

*Re: IRM - Iron Mountain*



KIWIKARLOS said:


> one word springs to mind... Ridiculous !
> 
> I have never seen such a speculative frenzy before! i keep getting the feeling that it will retract alot after this. I mean the ann wasn't good enough to warrant 300% !





Yep I agree with no drill results how can it run so hard... I was holding and got out... but this has to be the most I have ever seen a company run in 1 day... and it's big volume as well.... Just crazy


----------



## surfingman (8 October 2007)

*Re: IRM - Iron Mountain*

Wow is i can say, sold out of my oppies @ .30 thats a tidy % return I paid .075.

Will look to get back in at a later date, its very early stages for this company with no drilling results as a few have stated, good luck to all holding...

Should of held out until close, its good in hindsight but i'm all smiles either way...


----------



## alankew (8 October 2007)

*Re: IRM - Iron Mountain*

OOPS!
Couldnt resist and sold half my holding so now its a free play.Cant see this holding on to such incredible gains in the short term but will kick myself if it does.Am kicking myself now-up to 25c
Never mind still got half my holding,just after others opinions on what they would have done different


----------



## mick2006 (8 October 2007)

*Re: IRM - Iron Mountain*

well what can you say about that, heads up 332% options up 414% you would think they had found the next olympic dam or something, I have spent alot of days sitting infront of the computer accumulated nearly $4 million in wealth but I have never ever seen anything quite like that.

For those still holding I hope you took some off the table because that share price is not sustainable until proved by drilling results.

Now who has a working crystal ball first INP then ELK and now IRM what the hell is the next one to boom


----------



## ta2693 (8 October 2007)

*Re: IRM - Iron Mountain*

The trading pace or IRM today is very fast. I only experiences this pace in NYSE. 
I think a lot of professional day traders are playing this one today.  Thanks to IB, I can also do day trading with my small money.


----------



## greggy (8 October 2007)

*Re: IRM - Iron Mountain*

What an unbelievable run on excellent turnover. Iron ore stocks announcing promising results are certainly being rewarded at present.  IRM has a number of interesting projects and is cashed up.  
DYOR


----------



## moneymajix (8 October 2007)

*Re: IRM - Iron Mountain*

Mick



> who has a working crystal ball first INP then ELK and now IRM what the hell is the next one to boom





Looks like it is Rocktober.

A crystal ball would be handy for the next big thing.

Happy to have benefited from ELK and MMR today.

MMR was up from 11c to 20c on news. Finished at 16c.

One stage, MMRO were up around 300%.


Happy days.


----------



## Who Dares Wins (8 October 2007)

*Re: IRM - Iron Mountain*



YOUNG_TRADER said:


> This is the exact reason why I stayed away from IRM, they posted a prospectus to my parents who rang me for advice, my father owns shares in AMP and my mother Coles, why on earth would you post them a prospectus, it was very underhanded if you ask me and as my parents know very little about stocks they thought it to be the next RIO of Commodity stocks,
> 
> Anyway, not too much I see interesting over here,




Not like the Young Trader to miss out on a stock like this. Just goes to show you how some of the ones that don't look so flash can pull it out of a hat on the day.


----------



## greggy (8 October 2007)

*Re: IRM - Iron Mountain*



moneymajix said:


> Mick
> 
> 
> 
> ...




Its hard to tell what will move next.  Perhaps its best to look at overlooked and cashed up explorers with exposure to the iron ore sector.  There aren't many that haven't run. The only ones I can think of are PSP (gold and iron ore exposure) and LML (a diversified explorer with a couple of interesting iron ore projects) which are both on my watchlist.  These are just my thoughts. Thanks again Mick. 
DYOR


----------



## mobcat (8 October 2007)

*Re: IRM - Iron Mountain*

Woooooo Hooooooo and out of the blue she hits home i only just caught the good news well done all and to think i once held 800k IRM free carried on 90k now very happy to of held them in the bottom draw i nearly moved em on many times but at the going rate of late what was the point what a bonus happy days indeed im popping a Bollie as we speak its been a good day goodluck all 

         Cheers


----------



## moneymajix (8 October 2007)

*Re: IRM - Iron Mountain*

Greggy wrote:



> Its hard to tell what will move next. Perhaps its best to look at overlooked and cashed up explorers with exposure to the iron ore sector. There aren't many that haven't run. The only ones I can think of are PSP (gold and iron ore exposure) and LML (a diversified explorer with a couple of interesting iron ore projects) which are both on my watchlist. These are just my thoughts. Thanks again Mick.
> DYOR





*Greggy*

Re: Iron ore, I was thinking of PSP too. The other that springs to mind is JMS.


And of course, any other oil/gas co. that makes a significant find. 
I will post my oil/gas watchlist for Rocktober on my blog tonight.


----------



## mick2006 (8 October 2007)

*Re: IRM - Iron Mountain*

Happy that you guys made some good money on IRM when I first posted my research I thought it was a good long term prospect but 300% in a day, didn't see that coming.

There is another forgotten iron ore gem that has been flying under the radar and could well be similar to IRM, when I finished buying up I'll let the cat out of the bag


----------



## yuyry002 (8 October 2007)

*Re: IRM - Iron Mountain*

wow cant believe this one shot up this high today without no drilling results.

dont forget drilling rules folks.


----------



## BIG BWACULL (8 October 2007)

*Re: IRM - Iron Mountain*



yuyry002 said:


> wow cant believe this one shot up this high today without no drilling results.
> 
> dont forget drilling rules folks.



Don't forget Takeover speculation 
Well thats just speculation, what about breaking the rules or going against the trend, Obviously something is up (Other than the price) Is someting afoot :dunno: Maybe the Big boys have come out to Play on Our  beloved Iron Mountain :jump: Only time and info will tell, We shall see on the morrow


----------



## alankew (8 October 2007)

*Re: IRM - Iron Mountain*

Still cant believe today,sold half my options at 19.5c and missed the top at the time but didnt expect it to carry on up.Cant imagine it can be sustained in the short term unless there is something else afoot.I think another ore explorer LML has a good prospects and dependant on if the market is stable when release results this has potential to run.Has had some good anns including a JV with an Indian company re its Gum Flat project heres the linkhttp://imagesignal.comsec.com.au/asxdata/20070801/pdf/00744811.pdf  What i think is particularly pretty is the railway running throught its tenamentThey are currently drilling on the Eyre peninsula so expect some action soon.Apologies for hijacking the thread


----------



## YOUNG_TRADER (8 October 2007)

*Re: IRM - Iron Mountain*



Who Dares Wins said:


> Not like the Young Trader to miss out on a stock like this. Just goes to show you how some of the ones that don't look so flash can pull it out of a hat on the day.







KIWIKARLOS said:


> one word springs to mind... Ridiculous !
> 
> I have never seen such a speculative frenzy before! i keep getting the feeling that it will retract alot after this. I mean the ann wasn't good enough to warrant 300% !






Like I have always said, funadamentals don't mean jack on trading stories, I picked CUL at under 5c because I though it was undervalued, took profits at 9c and 10c, it ran as high as 19c pre the correction, crazy just crazy,

IRM's run today was un-justified, I'm sorry but surface samples mean jack, that doesn't mean it won't run hard tomorrow or keep going to the moon, traders will do as they please,

My biggest strength and weakness is I'm a fundie, I look for fundamentals that demand a re-rating, I didn't see them here (and I still don't) the market obviously disagrees with me as it usually does 

Good luck to all holders, I hope you make a million


----------



## eMark (8 October 2007)

*Re: IRM - Iron Mountain*



moneymajix said:


> Greggy wrote:
> 
> 
> 
> ...




I was wondering when someone would bring up JMS. 

Young Trader, if you are still online. What is your view on JMS re it's iron ore exposure and in turn it's potential for upside in the SP. If my memory serves me correct, you started the whole JMS thread way back in Feb 2006.


----------



## SevenFX (9 October 2007)

*Re: IRM - Iron Mountain*



YOUNG_TRADER said:


> I'm sorry but surface samples mean jack, that doesn't mean it won't run hard tomorrow or keep going to the moon, traders will do as they please,
> 
> My biggest strength and weakness is I'm a fundie, I look for fundamentals that demand a re-rating, I didn't see them here (and I still don't) the market obviously disagrees with me as it usually does
> 
> Good luck to all holders, I hope you make a million




YT.

You can't pick 100/100 stocks all the time, everytime so we'll just have to settle for you giving ASF heads up on 99/100 stocks. :

Don't think it''s the market disagreeing with you, more so Traders, as this no normal market move on samples... 

SevenFX


----------



## powerkoala (9 October 2007)

*Re: IRM - Iron Mountain*

I read twice about the news, and still can't understand why sp flying this high.
it's only sample, not even starting drilling yet. we don't know how deep is the iron, but of course daytrader's heaven rules. 
I agree with YT for this. the hype yesterday is really based on nothing, or maybe i was wrong after all.


----------



## KIWIKARLOS (9 October 2007)

*Re: IRM - Iron Mountain*

Yeah I think its one of the most retarded situations I've ever seen, the way it looks like it may open it could be well over 400% gain in 2 days!

I mean unless there is some serious insider trading or a hostile takeover who jacks up the price that high for such a speculative stock.

I have a feeling that people are going to get burnt here, they start actually drilling in a couple weeks it could be months until we get some actual results.

Is there project near existing infrastructure or producing fields? 

You would think they were sitting on solid iron the way is going


----------



## motion (9 October 2007)

*Re: IRM - Iron Mountain*

Hey guys, I want to ask a question and maybe the answer is right in my face... but why did the company not get a speeding ticket yesterday ?


----------



## prawn_86 (9 October 2007)

*Re: IRM - Iron Mountain*

not ticket as the rise was on the back of a price sensitive ann and there was no suspicious movement before the ann was released


----------



## ta2693 (9 October 2007)

*Re: IRM - Iron Mountain*

ppl come back to sense and realize the news is just so so. not so much worth exciting. It went down 20% at open.


----------



## motion (9 October 2007)

*Re: IRM - Iron Mountain*



prawn_86 said:


> not ticket as the rise was on the back of a price sensitive ann and there was no suspicious movement before the ann was released




Thanks Prawn_86 ... Sometimes I get confused on this matter, but it's better than last time when they put the company in a tarading holt for only small news.... =


----------



## SevenFX (9 October 2007)

*Re: IRM - Iron Mountain*

Should find some support/resistance at 50c for the moment..

Will see later if she holds above that..

SevenFX


----------



## SevenFX (9 October 2007)

*Re: IRM - Iron Mountain*

Any takers what the market will value IRM at the end of selloff, as she seems close to the bottom..Today


----------



## surfingman (9 October 2007)

*Re: IRM - Iron Mountain*

I wont consider buying in again until it's close to were the announcement was released oppies .07 - .08 range, I cant see anymore value in the company this week in comparison to last week.


----------



## jman2007 (9 October 2007)

*Re: IRM - Iron Mountain*

I don't hold this stock atm,

I think ASX surveillance will be keeping a close eye on this, expect some enquiries to be be initiated today/tomorrow re the insane sp movement. Beware of pump and dump people. 

Totally agree with most people who have commented on this thread recently, surface rock chip sampling doesn't mean a damn thing, I work in this area, and there is a lot of Fe-Al-rich laterite in the top few meters, plus ferruginous saprolite. Let's wait until they actually commence drilling.

Cheers
jman2007


----------



## eMark (9 October 2007)

*Re: IRM - Iron Mountain*

Well the stock finished down 30% for the day at 0.425; but seemed to hang around the 0.45c mark for the most part, before falling 0.03c right at the close (some nervous trading no doubt). Any call on what might happen for this stock for the rest of the week?


----------



## greggy (9 October 2007)

*Re: IRM - Iron Mountain*



jman2007 said:


> I don't hold this stock atm,
> 
> I think ASX surveillance will be keeping a close eye on this, expect some enquiries to be be initiated today/tomorrow re the insane sp movement. Beware of pump and dump people.
> 
> ...



You're right. Drilling results matter much more. I'm now out of IRM.  IMO yesterdays price action was way over the  top. I'm now cashed up awaiting the next opportunity.
DYOR
DYOR


----------



## eMark (10 October 2007)

*Re: IRM - Iron Mountain*



eMark said:


> Well the stock finished down 30% for the day at 0.425; but seemed to hang around the 0.45c mark for the most part, before falling 0.03c right at the close (some nervous trading no doubt). Any call on what might happen for this stock for the rest of the week?




So it's all over red rover re commentary on this stock? Guess the other day was pretty exhaustive! Traded within a tight range today. Also NAB has upgraded their iron ore forecasts.


----------



## eMark (16 October 2007)

*Re: IRM - Iron Mountain*

Nice recovery.

Last Trade: 0.415 AUD 
Trade Time: 4:10PM AEST 
Change:  +0.050 (13.70%) 
Prev Close: 0.365 
Open: 0.365 
Bid: 0.410 
Ask: 0.415


----------



## wipz (16 October 2007)

*Re: IRM - Iron Mountain*



eMark said:


> Also NAB has upgraded their iron ore forecasts.



I am very curious to know what NAB has to say about iron ore in the future, can you please share with the rest of us?
Cheers.


----------



## eMark (17 October 2007)

*Re: IRM - Iron Mountain*



wipz said:


> I am very curious to know what NAB has to say about iron ore in the future, can you please share with the rest of us?
> Cheers.




No worries. Enjoy!

NAB Latest To Lift Iron Ore Forecasts
FN Arena News - October 10 2007 

By Chris Shaw

National Australia Bank is the latest but likely won’t be the last to lift iron ore price forecasts, the group now expecting benchmark lump ore prices will increase by 15% in Japanese financial year (JFY) 2008.

Minerals and energy economist Gerard Burg notes in the bank’s “Iron and Steel Outlook - October 2007” report there is upside risk to the bank’s new forecast of US119.9c per long ton unit, particularly as BHP Billiton (BHP) has indicated it will attempt to lock in a price premium to account for lower freight costs for Australian ore relative to supply from Brazil.

In part the expected increase is the result of lower Indian spot exports, which follows the imposition of an export tax in March. The other supporting factor is that supply constraints globally have yet to ease and in Burg’s view are unlikely to do so until sometime in 2009 at the earliest.

One flow through effect Burg sees as likely is higher price pressures in the steel market, as the higher iron ore prices are coming at the same time as coal costs are increasing. On Burg’s numbers hard coking coal prices should increase by 17.5% this year while semi-soft prices should increase by 20%.

He expects steel mills will need to pass some of these increases on to customers, so how well customers deal with price increases is likely to impact on production levels in North America and Europe in particular. Burg expects hot rolled coil prices in North America will increase by a little over 5% in 2008 to an average of US$644 per tonne. This should prove a peak, as he expects prices to ease in 2009 to an average of US$600 per tonne.

Helping lift prices next year will be ongoing strength of demand for steel, Burg estimating global steel consumption in 2008 will increase by 5% to 1.36 billion tonnes, with China and India leading the way in accounting for 40% of global consumption.

China is also leading the way in terms of global production, with output forecast to increase by 10% to 540 million tonnes in 2008, underpinning the bank’s forecast of a 5.6% increase in total world production to 1.4 billion tonnes. Outside of China the bank sees world steel production growing by a more modest 2.9%.


----------



## eMark (29 October 2007)

*Re: IRM - Iron Mountain*



jman2007 said:


> Beware of pump and dump people.




Can someone explain what this means exactly? Today saw the share price move up to 0.455 very quickly, and come back down to 0.41 just as quick. But what I noticed in the BUYS were 400,000 and 200,000 buys a few cents below the current price (holding the SP up?), and then they evaporated, without being filled (as far as I'm aware). Is this the pump and dump..........build it up, and and then smack it down?

Todays announcement also...

Iron Mountain Mining Releases Project Update: Drilling at Mount Richardson WA 
Monday October 29, 2007, 12:10 pm  

Original Announcement: Project Update Drilling at Mount Richardson WA 

Iron Mountain Mining released a project update in relation to drilling at Mount Richardson, WA. A Ground Disturbance Application has been approved for Mt. Alfred and Iron Mountain Prospects, a Scout RAB drilling programme was commenced on 21 October 2007 and a Ground Disturbance Application has been lodged for Brooking Hills Prospect.


----------



## zt3000 (16 November 2007)

*Re: IRM - Iron Mountain*

Close of 49.5c today ... not a bad effort considering the general market conditions today ... no idea why up ~ 20% ... any ideas?


----------



## zt3000 (17 November 2007)

*Re: IRM - Iron Mountain*

LoL ... announcement after close, just noticed dated 29th october .. 1 month ago and then signed yesterdays date ... 

hrmmm ???????????? was that deliberate to head of a speeding ticket?


----------



## eMark (17 November 2007)

*Re: IRM - Iron Mountain*



zt3000 said:


> LoL ... announcement after close, just noticed dated 29th october .. 1 month ago and then signed yesterdays date ...
> 
> hrmmm ???????????? was that deliberate to head of a speeding ticket?




It appears that the scout RAB (rotary air blast) drilling programme at the Mount Richardson iron project that commenced on October 21, has now been completed as of November 16 2007. Initial results are expected soon (?)

It explains the increase in the share price on Friday. Although the announcemnet did not come out until after close, some people obviously knew about it.

The date on the announcement appears incorrect, as the date 16 November 2007 is printed at the bottom.


----------



## louisapple (28 November 2007)

*Re: IRM - Iron Mountain*

rough day good news but price drop how come? undervalue stock cheer up.
all iron producer are in low price  due to un sure external environment effect. for a long run ,it must be good one


----------



## Hakkers14 (6 December 2007)

*Re: IRM - Iron Mountain*

Can anyone share their thoughts on the announcement today?? Not quite sure what to make of it - a fair few intersections of >60% fe fairly well spaced throught the mt alfred and iron mountain prospects. Share price down significantly though. Obviously below mkt expectations, but any thoughts as to how good the results are?


----------



## enigmatic (5 January 2008)

*Re: IRM - Iron Mountain*

Been hearing a little about IRM so wanted to check it out. seems like it had a good run in Oct but since then has been falling off even though some good intersections of 60%+ FE. Does anyone have any reason behind the drop in sp and the considerable lack of buy interest.


----------



## doogie_goes_off (5 January 2008)

*Re: IRM - Iron Mountain*

The best intersections are in holes 34 and 35 which have grade and width, the zone of open intersections around this is only ~300m long as opposed to the huge length of the touted targets. The discontinous/narrow nature of targets was dissapointing for some, but not those of us who ignored the rock chips which can be very selective. Even if the zone of interest currenlty identified was 300m long x 10m avg thickness x 300 m down the dip of the layer x density of 4, then you would only have a 3.5Mt resource @ ~55%, that's a pretty small target at this stage, but deeper drilling may prove more fruitful, but ofcourse then you have to get down there to get it out.

Hope that helps.


----------



## sandybeachs (13 January 2008)

*Mt Richardson Iron ore*

don't write IRM off at this point, plenty of good news ahead.

1) Mt Richardson see attached map. i've indicated where they are currently RC drilling also GREEN spray shows areas in which they have tested.

in real terms they have only just scracthed the surface of this tenement.

2) we should have some details about recent areomagnetic over Miaree/Wongan Hills tenements possible 1~2 billion tonnes.

Jan just might be a ripper, just as long as the market is also on song.

Mt Richardson see attached map, two area currenlt being RC drilled Mt Alfred & Iron Mountain. note plenty of BIF's that haven't been tested yet.


----------



## BIG BWACULL (31 January 2008)

*Re: IRM - Iron Mountain*

IRM appear to be makin a dash today up 31% to 31.5c not much volume Though 
330,190, maybe there is some more rock chip samples :


----------



## metal guru (7 February 2008)

*Re: IRM - Iron Mountain*

this was posted on a UK Bulletin Board...

were you aware that Callum Baxter & Paul Askins (2 largest independent shareholders in IRM) hold the title to Iron Mountain tenement and also run Greatland Gold (Ticker AIM: GGP) which is part of Red Rock/Regency Stable (RRR/RGM also on AIM).

Red Rock owns Tenement abutting IRM & MDX 
Red Rock also sold Mount Ida & Mt Hope to Jupiter Mines.

IRM results are having a knock on effect and it prime for some consolidation in the not too distant future...

http://www.rrrplc.com/
http://greatlandgold.com/
http://www.regency-mines.com/





.................................................

There’s some interesting stuff going on with Red Rock in the Yilgarn. They are building a stake in Mindax and its just emerged that Callum Baxter & Paul Askins (directors of GGP - RRR chairman is also chairman of GGP) own abutting AXS listed IRM tenement in Yilgarn and are also major shareholders.

It looks like Red Rock are lining up the whole area as a multi million ton Iron Ore resource "parcel" for consolidation.

who would be interested??

Mt Alfred and abutting tenements are very prospective for haematite (highest possible grade Iron Ore) and the RRR move on Mindax, plus cosy arrangements with IRM, Jupiter Mines are also on side.....this would be a true Multi million ton world class resource.

Portman also own 3 abutting tenements and are 80% owned by US giant Cleveland Cliffs (Cleveland paid US$500m 2 years ago).

Portman currently direct ship 8m tons of iron ore p/y to China. It is no secret that their resources are starting to run dangerously low. 

The point I am making is that at some time soon there will be an aggressive drive for resources - maybe Portman, maybe someone else, but its about being in the right place at the right time…..

If the share price goes on a run for no apparent reason – it will be because the Aussies have woken up to what’s happening here.


----------



## Mr Peaman (12 February 2008)

*Re: IRM - Iron Mountain*

Anyone know when the Results are due out for Mount Richardson? i'm thinking that this may be a good entry price as the results are in the lab...


----------



## tigerboi (9 May 2008)

*Re: IRM - Iron Mountain*

Strange 3 months not a word here,in the last week this has leapt 90% & not even the punter on it in the comp(now getting bashed up by mxr,how do you feel sailing along at 90%+ then crash bang wallop)has said a word...tb


----------



## YOUNG_TRADER (29 May 2008)

*Re: IRM - Iron Mountain*

Interesting,

With all the developments over at JMS recently re Red Rock Pallinghurst etc etc and MDX a few months ago I have been wondering when if ever they would make their move on IRM

Given it completes the Central Yilgarn Trifecta for Red Rock

The stock has been ticking up on volume lately, I wonder who has been buying?

I jumped on board today after watching it for a few days,

DYOR could be another one to get swept up by the consolidation play


----------



## YOUNG_TRADER (10 July 2008)

*Re: IRM - Iron Mountain*

Grabbing a few more of these and will continue to buy on weakness as I believe its now a 3 play stock

1. Red Rock consolidation potential for their small Fe deposit near Mt Ida/Mason (ie JMS/MDX/IRM/RR) 

2. Massive Magnetite potential (1Bt's-3Bt's according to JV parnter RVR)

3. Magnetite deposit in Tasmania at the Blythe prospect next to an existing mine (VMS has had similar success in Tas and just compare mkt caps)


DYOR I'm trawling the ASX for bargains


----------



## Seda (13 August 2008)

*Re: IRM - Iron Mountain*



metal guru said:


> this was posted on a UK Bulletin Board...
> 
> were you aware that Callum Baxter & Paul Askins (2 largest independent shareholders in IRM) hold the title to Iron Mountain tenement and also run Greatland Gold (Ticker AIM: GGP) which is part of Red Rock/Regency Stable (RRR/RGM also on AIM).
> 
> ...




Great prediction back in January....I hope you have some stock in IRM.

Obviously I am eagerly awaiting tomorrow's annoucement. Does anyone have any idea what this could mean to the price of IRM?


----------



## YOUNG_TRADER (14 August 2008)

*Re: IRM - Iron Mountain*

Very interesting move by Portman to swoop on IRM's Mt Richardson project, personally I expected Red Rock to make a move as they have on MDX and JMS but this is a good result for IRM

Here's the deal broken down

* $3m cash payment upfront *

A once only payment of $0.50 per dry tonne on tonnages in excess of 10,000,000 tonnes of independently confirmed JORC, the company ius targetting an avg 20Mt's here, so = 20Mt's - 10Mt's = 10Mt's @ 50c/t = * $5m *

Royalty (best part) 2% royalty of the FOB price of Iron Ore products from the
tenements, assume Fe price avg $100/t = $2/t Fe royalty, 20Mt's@58% Fe = 11.5Mt's Fe = * $23m * and thats assuming 20Mt's

Considering the very low outlay IRM spent on Mt Richardson, the current difficulty in securing capital and the fact that this * deal looks to be worth $30m = 42c a share * I think it was an excellent outcome for IRM


----------



## YOUNG_TRADER (14 August 2008)

*Re: IRM - Iron Mountain*

Just realised I have mis-read, or should I say IRM have mis-worded the announcement

Essentialy there are 3 components,

Here's the deal broken down

1. $3m cash payment upfront + a further $3m upon approvals to drill etc + 2 further paymenys of $2m each for a total of $10m for PMM to earn 100%, * $10m = 14c a share *

2. A once only payment of $0.50 per dry tonne on tonnages in excess of 10,000,000 tonnes of independently confirmed JORC, the company ius targetting an avg 20Mt's here, so = 20Mt's - 10Mt's = 10Mt's @ 50c/t = * $5m = 7c *

3. Royalty (best part) 2% royalty of the FOB price of Iron Ore products from the tenements, assume Fe price avg $100/t = $2/t Fe royalty, 20Mt's@58% Fe = 11.5Mt's Fe = * $23m = 33c * and thats assuming 20Mt's


Considering the very low outlay IRM spent on Mt Richardson, the current difficulty in securing capital and the fact that this * deal looks to be worth a minimum of $10m cash and up to $38m = 54c a share * I think it was an excellent outcome for IRM


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## Seda (16 August 2008)

*Re: IRM - Iron Mountain*



YOUNG_TRADER said:


> Just realised I have mis-read, or should I say IRM have mis-worded the announcement
> 
> Essentialy there are 3 components,
> 
> ...




Any idea why this new announcement didn't seem to interest the punters. I think the share price fell after this news.


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## happytown (5 June 2009)

*Re: IRM - Iron Mountain*

ann out this morning on miaree (j/v with rvr) magnetite target

approx 1.8B t Fe (covering area drilled sofar with potential to increase target)



> ...
> 
> Magnetite intersections of up to *150m @ 30.1% Fe* were encountered
> 
> ...



irm can earn up to 70% at miaree by spending $3.5M

irm sp currently unchanged today on nil volume

cheers


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## springhill (9 July 2012)

*Re: IRM - Iron Mountain*

I remember watching IRM list around 5 years ago wishing I had been able to get in the offering, they had a spectacular 6-9 months and have fallen in a hole ever since.

Recently they have announced making an off market bid for all shares and options in United Orogen Limited (UOG).Shareholders of United Orogen will be offered 1 fully paid share in Iron Mountain for every 4 shares held in United Orogen.
Current IRM SP is 3c, UOG 0.7c. UOG option holders will need to convert to take part in this.

*WANDOO (Alumina)*
 Agreement for the sale of the Wandoo Project to Alpha Bauxite Pty Ltd announced 6 March 2012
 Payment of A$4,000,000 plus production royalty subject to successful completion of due diligence by 30 June 2012
 Program of Work amendment lodged to allow Alpha Bauxite Pty Ltd to drill twenty diamond holes for a total of 400m to infill selected Wandoo bauxite resource areas

Alpha Bauxite and IRM have agreed to extend the agreement until 31st July.
http://www.asx.com.au/asxpdf/20120620/pdf/426y5f1r17n53p.pdf


*MIAREE (Magnetite)*
 Completion of 6 RC holes for a total of 2102m within E08/1350 to test for southwest extension of 310Mt @ 34.7% Fe Maitland Resource of Iron Ore Holdings Ltd (ASX 4/7/11)
 Best results include:
376m @ 33.65% Fe (0‐376m) incl. 246m @ 36.58% Fe (113‐376m) in MMRC002 (376m)
365m @ 34.09% Fe (38‐403m) incl. 232m @ 37.14% Fe (171‐403m) in MMRC001 (403m)
312m @ 37.02% Fe (88‐400m) in MMRC006 (400m)
 Results very encouraging with strongly mineralised widths in excess of 300m, individual assay grades up to 45.95% Fe, intersections grading up to 37% Fe and five of the six holes finishing in strongly mineralised magnetite
 Initial indications are that drilling coverage, mineralised widths and interval grades will support the estimation of a JORC compliant magnetite resource within E08/1350

*GOLDEN CAMEL (Gold)*
 Mining Licence 5548 over Golden Camel gold deposit granted 9 February 2012
 Re‐estimation of historically reported Measured, Indicated and Inferred Resource of 439,000t @ 1.5g/t Au within former MIN4149 (Cornella) by Perseverance Exploration Ltd (Quarterly Report for the period ending 31 Dec 1994) is underway by ZMC Consultants Pty Ltd
 Proposal for sole funded or joint venture development and toll treatment or ore being evaluated



*BLYTHE*
Iron Mountain Mining Ltd (Iron Mountain, ASX: IRM) is pleased to announce that Forward Mining Ltd today formally acquired the Blythe River Project in Tasmania from Iron Mountain and Red River Resources Ltd (50:50). Forward Mining Ltd executed its Option to Purchase the Blythe Project under the name Blythe River Iron Pty Ltd with the payment of A$650,000 to each of Iron Mountain and Red River Resources Ltd (total payment A$1,300,000).
This payment is in accordance with mutually agreed restructured execution terms that reflect the volatile nature of current market conditions and provide improved conditions for the successful development of a sustainable long-term mine at Blythe.
Under the originally agreed terms (ASX 28 March 2011), total consideration payable to Iron Mountain and Red River Resources Ltd was A$6,300,000 conditional on milestones such as Forward Mining Ltd being admitted to the Official List of the ASX, decision to mine and first shipment of iron ore from the project tenements.
Under the mutually agreed restructured execution terms, total consideration of A$6,300,000 is still payable but under the following amended milestones aimed at reducing barriers to project development:
 Payment of A$1,300,000 on or before 30 June 2012 to execute the Blythe Option to Purchase
 Payment of A$1,000,000 upon the first shipment of iron ore extracted from the Blythe Project tenements
 Payment of A$2,000,000 upon the first anniversary of the first shipment of iron ore extracted from the Blythe Project tenements
 Payment of A$2,000,000 upon the second anniversary of the first shipment of iron ore extracted from the Blythe Project tenements
The originally agreed royalty of 1.5% payable on the gross Free on Board revenue from all shipments of iron ore from the Blythe tenements remains intact.


*MOUNT RICHARDSON PROJECT*
Cliffs Asia Pacific Iron Ore Pty Ltd (“Cliffs”) is the owner of E29/571 following finalisation of the sale of the Mt Richardson Project on 13 July 2010. Iron Mountain retains a royalty of 2% on average/tonne FOB sales value of iron ore product that departs E29/571 as well as a one off payment of AUD 0.50 per dry metric tonne on tonnages in excess of independently evaluated Indicated or Measured resources of 10,000,000 tonnes.
No update was received on the progress at Mt Richardson for the March 2012 quarter. Future updates on the status of the Mt Richardson Project will be announced as provided by Cliffs.


*WONGAN HILLS PROJECT*
The Wongan Hills Project is comprised of exploration licence E70/2728 immediately west of Wongan Hills in the Archaean Yilgarn Iron Ore Province Province of Western Australia. Kingsgate Consolidated Ltd (“Kingsgate”, ASX: KCN) are the current operators following the acquisition of Dominion Mining Ltd who had previously earned an 80% interest in the Wongan West Joint Venture by satisfying required expenditure requirements (ASX 28 Aug 2009).
The majority of the Wongan West JV is subject to a farm‐in agreement with Red River Resources Limited and Iron Mountain Mining Limited under which Kingsgate has earned an 80% interest. The equity interests of Red River and Iron Mountain in E70/2728 have been reduced to 15% contributing and 5% free‐carried respectively. No work was reported for the March 2012 quarter.


*TREASURE JV
*
The Treasure Prospect is comprised of EL25346 covering 101km² and is currently subject to a Joint Venture Agreement with Mithril Resources Ltd (“Mithril”) announced on 30 September 2008 whereby Mithril can earn 60% in EL25346 be spending $1m over the first three years (Stage 1) and a further 20% by spending an additional $1m over the following 2 years (Stage 2). Iron Mountain can be reduced to 40% should Mithril exercise Stage 1 (60% farm‐in) or 20% should Mithril exercise Stage 2 (80% farm‐in).
The project is located approximately 130km northeast of Alice Springs in the Northern Territory and is currently being managed by Mithril under the terms of the JV agreement. No field work was completed by Mithril on EL25346 during the March 2012 quarter. Verification of VTEM anomalies detected last year are planned in the next quarter.


*HMS PROJECT*
The HMS Project is comprised of 5 granted exploration licences covering 624km² over 6 known heavy mineral sand (HMS) deposits within the Murray Basin in Western Victoria. The Murray Basin covers North Western Victoria, South Western New South Wales and South Eastern South Australia and is a prolific producer of heavy mineral sands. Iluka Resources Ltd, currently the largest producer of zircon in the world, operates the Douglas, Kulwin and recently closed Echo HMS mines in Victoria as well as a Mineral Separation Plant in Hamilton, Western Victoria (see Fig.7). Relocation of mining operations from the soon to be decommissioned Kulwin Mine to the Woornack, Rownack and Pirro (WRP) deposits 25km is underway.
MT ELVIRE PROJECT
The Mt Elvire Project is comprised of a single exploration licence covering 12km² located south of Port Hedland in Western Australia. The area is considered prospective for channel iron ore accumulations similar in nature to the Yandi deposit (Rio Tinto) as well as for detrital iron ore deposits and was part of a competing application over the same ground highlighting the level of competitor interest in the area. Assessment and evaluation of the Mt Elvire Project is ongoing to determine necessary exploration to be undertaken within restricted seasonal windows of opportunity. No field work was undertaken at Mt Elvire during the March 2012 quarter.


*MACQUARIE MARBLE AND LIME PTY LTD (KOREE LIMESTONE)*
Iron Mountain has a 60% interest in Macquarie Marble and Lime Pty (MML) which exercised an option to acquire ML 1446 and surrounding EL 7084 at Wauchope, near Port Macquarie in New South Wales in 2008.
The company continues to progress negotiations for the divestment of this asset.


*OUG's current assets*
A General Meeting was held on Friday 6th April 2012 and a resolution to acquire 100% of the shares in Orange Hills Resources Limited was approved. The acquisition of Orange Hills Resources Ltd has added the Mt Leeming (Bauxite), Cape Londonderry (Gold), Lawley (Gold) and Vansittart (Gold) projects to our assets. The acquisition of these areas of the Kimberley will provide prospective areas for gold, bauxite, base metals and diamonds. The key bauxite project at Mt Leeming, located south of Kalumburu can be developed at low cost from identified
resources. The existing data consists of results from 80 air core drillholes and testwork results from bulk sampling.
The Cape Londonderry project has been explored for gold and alumina and volcanic hosted sulphides have been identified. The Lawley prospect has a diamond occurrence and anomalous gold values. Exploration on the Vansittart prospect has identified polymetallic mineralization.

With the sale of Blythe and the potential sale of Wandoo, we could have a cashed up little explorer with refreshed projects soon.


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## prawn_86 (9 July 2012)

*Re: IRM - Iron Mountain*



springhill said:


> I remember watching IRM list around 5 years ago wishing I had been able to get in the offering, they had a spectacular 6-9 months and have fallen in a hole ever since.




Yep, they were part of the iron ore 'bubble', just like the current graphite 'bubble'. Throw in a bull market 5 years ago and its amazing what spec stocks can do even with a very low % chance of ever reaching development or asset sales


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## springhill (17 July 2012)

*Re: IRM - Iron Mountain*

*GOLDEN CAMEL PROJECT JORC RESOURCE UPDATE*

HIGHLIGHTS
Maiden Golden Camel Indicated & Inferred JORC Resource of 246,000t at 2.5g/t Au (19,700 oz) within fully granted Mining Licence MIN5548
Resource calculated by independent resource consultants Zurkic Mining Consultants Pty Ltd using all available historical drilling data
Evaluation for development as a potential small scale toll treatment operation underway

Thems were the days prawn! 
If I knew then, what I knew now.....


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## springhill (2 August 2012)

*Re: IRM - Iron Mountain*

*NOTICE OF INTENT FROM ALPHA BAUXITE TO PURCHASE WANDOO BAUXITE PROJECT*

 Alpha Bauxite Pty Ltd formally confirms intent to purchase of Wandoo Bauxite Project
 Deadline for completion of financial settlement mutually agreed to be extended to 17 August 2012
 A$4,000,000 cash plus a production royalty of $0.75 per tonne payable under the terms of the agreement


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## springhill (13 August 2012)

*Re: IRM - Iron Mountain*

IRM are about to find themselves in a really strong cash position, even more so in relation to their MC. Payment of $4m (plus production royalty of $0.75/t on future production) from Alpha Bauxite is due by 17th Aug, giving IRM the following structure.

*MC - $4.2m*
SP - 3.2c
Shares - 135m
Options - NQ
*Cash - $7.2m*

I am calling the bottom on the IRM SP (as long as payment goes through successfully). IMO only.


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## springhill (5 April 2013)

*Re: IRM - Iron Mountain*

I felt today was a good time to pick up a small spec holding in IRM. I may add to the position size in the future depending on which path the company follows.

MC - $6m
SP - 4c
Shares - 152m
Options - 42m (unlisted)
Cash - $5.7m

Within 5 weeks there has been 6 Changes of Director Interest relating to David Zohar, totalling; 1,188,699 FPO shares and 30m unlisted options and having paid $83,752.
Zolar obviously sees something in IRM.

The position of being a low cap stock, with low liquidity, cash in hand and a current frilling program underway ticks the boxes I generally look for.

*Details of drilling.*
19 March 2013
COMMENCEMENT OF DRILLING AT GOLDEN CAMEL PROJECT
Iron!Mountain announce that drilling at the Golden Camel Project (MIN5548) in Victoria commenced yesterday afternoon.
The proposed drilling program is 8 diamond core holes for a total of 540m and is comprised of 2 geotechnical holes, 2 metallurgical holes and 4 resource infill holes. At conventional diamond drilling rates, the program is expected to be completed around mid April.
Recovered core will be sampled following the completion of drilling and results announced as received.


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## springhill (19 September 2014)

*Re: IRM - Iron Mountain*

CONDITIONAL PURCHASE AGREEMENT TO ACQUIRE EON PTY LTD

Iron Mountain announce that it has signed a Conditional Purchase Agreement to Acquire 100% of the issued capital of EON Pty Ltd which is the 100% beneficial owner of the Endeavour Antimony and Bullendale Gold Projects located in the south island of New Zealand.

The Agreement is conditional on:
1. Iron Mountain completing financial and legal due diligence on EON Pty Ltd and the tenements to the sole and absolute satisfaction of Iron Mountain; and
2. The Parties obtaining all necessary governmental consents and approvals to the transaction contemplated by this Agreement including the consent of the relevant governmental authorities under the Mining Act (if required); and
3. Neither the Vendors or Iron Mountain being prevented from completing the transaction by virtue of 
receiving any notice from any Regulatory Authority in relation to non-compliance with any Relevant Law by any aspect of the transaction.

These conditions must be satisfied within 90 days unless waived by the Party entitled to waive.

Under the terms of the Agreement, Iron Mountain is to pay a A$50,000 deposit, A$25,000 of which is refundable if the conditions are not satisfied within the 90 day period.

In the event that the Agreement becomes unconditional, the following consideration is payable:
A. At completion of Acquisition;
i. the payment of $175,000 (less the deposit);
ii. the issue of 4 million fully paid ordinary shares in IRM

B. Performance Consideration;
i. upon commencement of drilling at any of the Tenements, the issue of 3 million shares in IRM or cash equivalent, at the election of IRM;
ii. upon definition of a JORC resource greater than 10,000t equivalent contained antimony for the Endeavour Project or 100,000 ounces gold equivalent for the Bullendale Project, the issue of 4 million shares in IRM or cash equivalent at the election of IRM ; and
iii. upon completion of a positive Definitive Feasibility Study for either the Endeavour Project or Bullendale Project, the issue of 5 million shares in IRM or cash equivalent at the election of IRM

If Iron Mountain elects to sell either or both of the Endeavour or Bullendale Projects, the Company has option to either pay all outstanding tranches of Performance Consideration or ensure that the new purchaser assumes all outstanding Performance Consideration obligations commensurate in value to the value of IRM shares at the date of completion of the project sale.


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## System (7 December 2016)

On December 7th, 2016, Iron Mountain Mining Limited (IRM) changed its name and ASX code to Pacific Bauxite Limited (PBX).


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## System (8 July 2022)

On July 8th, 2022, Pacific Bauxite NL (PBX) changed its name and ASX code to Western Yilgarn NL (WYX).


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## Dona Ferentes (8 July 2022)

Pacific Bauxite Limited ... reinstated to Official Quotation at the commencement of trading at 10:06:45 am AEST on Wednesday, 4 May 2022, following its re-compliance with Chapters 1 and 2 of the ASX Listing Rules. PBX raised $4,500,000 pursuant to the offer under its Prospectus dated 7 February 2022 by the issue of 22,500,000 shares at an issue price of $0.20 per share.

And now the name change.


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