Australian (ASX) Stock Market Forum

AYN - Alcyone Resources

Jump to new
Bigukraine

Bigukraine

Joined
17 September 2009
Posts
210
Reactions
1
Hi all,
I have noticed no-one has started a thread on this relisted company (formally

Macmin Silver MMN ) and i have read the MMN thread and wondered if anyone would like to contribute some information a bit more recent if any avaliable!!!!! Any thoughts ????:dunno:
 
Bigukraine said:
Hi all,
I have noticed no-one has started a thread on this relisted company (formally

Macmin Silver MMN ) and i have read the MMN thread and wondered if anyone would like to contribute some information a bit more recent if any avaliable!!!!! Any thoughts ????:dunno:
Click to expand...

Cant contribute any imformation to you you BigukraineF but certainly there's a lot of interest with the large volumes of trade.
 
Macmin went into administration on 3rd November 2008. At this date there were 511,098,640 shares outstanding, and the shares were 4.4c. This gave a market cap of AU$ 22.5m. At the time, the silver price was US$10.00 Oz.

AYN has 600,555,407 at the time of writing (from 17th Nov 09 presentation) and a sp of 5.4c giving a market cap of AU$ 32.5m. The silver price is US$18.60 Oz at the time of writing (25th Nov 09).

16th Nov 2009 Update to market.
AYN are undertaking a metallurgical testwork programme, the results of which are expected in H1 2010. Following this, a re-design of the processing system will be undertaken.

They are also updating the geological database with information which had previously not been entered into the database by Macmin (exgeo: sounds a bit slack to me; such lapses might help to explain why MMN went bust in the first place). After all the data has been entered, a new JORC resource calculation will be completed, and the orebody remodelled. Once all of this has been done, a decision to re-start production will be taken, depending on the economics of the project at that time.

AU$ 4m in new AYN capital was raised at 1c prior to re-listing (re-listing date was 17th Nov 09).


My thoughts
Doesn't sound to me like any of this is going to be a quick process, as the new management team are really going back to basics and not relying on anything at all provided by the previous management (perhaps wisely!). One to watch, but as production isn't imminent, or even assured, not one to bet your retirement on I'd say.
 
Anyone have any clues on the entitelment to shares in Alcoyne of those who held shares in the now de-funct Macmin?

I had a few,but have had no word from ASX registries on the matter.Surely shareholders in MMN are entitled to receive some of the new AYN shares?

Perhaps I better get off by bottom and contact them? :)
 
Boyou said:
Anyone have any clues on the entitelment to shares in Alcoyne of those who held shares in the now de-funct Macmin?

I had a few,but have had no word from ASX registries on the matter.Surely shareholders in MMN are entitled to receive some of the new AYN shares?

Perhaps I better get off by bottom and contact them? :)
Click to expand...

Your share entitlement is one new AYN share for every twenty original MMN shares.

So if you had say twenty MMN shares that you paid fifteen cents for, your three dollar investment in Macmin is now worth about four cents, and falling.

The share base has exploded upwards from around 230 million to around 600 million shares. The vast majority of all these new shares are held by insiders in this syndicate of bankers.

So basically, the original shareholders that did not take up the purchase option in the prospectus, now have a stake in the silver mine of very roughly one fiftieth of what they originally had before.
That is really going to hurt if/when a dividend is ever offered.

Shareholders that did take up the share offer in the prospectus still now hold only a small fraction of the equity they had before, because of the massive blow out in the total number of new shares on issue.
 
AYN

What can anyone tell me about AYN? I notice its about to be digging up alot of Silver and one of the Directors has pitched in $1,000,000 in a recent placement. Sounds like a great bet at .025cents?
 
Call & Put,

If you subscribe to Diggers and Drillers newsletter the writer (Dr. Alex Cowie) seems to imply he has been researching this company (you need to read back issues of the newsletter and make up your own mind on this).

If so, there is a chance Diggers & Drillers may do a special report on Alcyone.

I am hoping this is soon. I hold quite a few at 2.6c.

Diggers and Drillers did a special report on Continental Coal (CCC) about a month ago and it spiked 25% from 4.4c day before the report to 5.5c immediately after report was released and has climbed further since on the back of good ASX announcements. It also topped ASX turnover after the report was released for about 3 days straight. From Hotcopper site it seemed that quite a few knew the CCC special report by D & D was coming.

This time around I think any special report by Diggers & Drillers will come out of the blue to stop those close to the company getting set.
 
Ajax said:
Call & Put,

If you subscribe to Diggers and Drillers newsletter the writer (Dr. Alex Cowie) seems to imply he has been researching this company (you need to read back issues of the newsletter and make up your own mind on this).

If so, there is a chance Diggers & Drillers may do a special report on Alcyone.

I am hoping this is soon. I hold quite a few at 2.6c.

Diggers and Drillers did a special report on Continental Coal (CCC) about a month ago and it spiked 25% from 4.4c day before the report to 5.5c immediately after report was released and has climbed further since on the back of good ASX announcements. It also topped ASX turnover after the report was released for about 3 days straight. From Hotcopper site it seemed that quite a few knew the CCC special report by D & D was coming.

This time around I think any special report by Diggers & Drillers will come out of the blue to stop those close to the company getting set.
Click to expand...

Hi Ajax - Have you heard any more on if this special report is going to be completed? Also is there any word anywhere as to when they might start the plant up again as silver is now back to $18 an ounce (Today in SMH)
 
resource upgrade for mt gunyan due next month

current ag resource at mt gunyan 2.106mt @ 73 g/t ag for 4,917,000ozs ag

total texas project ag resource currently 5.948mt @ 79 g/t ag for 15,109,000ozs ag

expecting to resume mining operations at twin hill mine by years end
 
I think heavy rain in the area has slowed down drilling not too sure if its enough for a JORC which everyone is waiting for before investors sees this as a worthwhile investment its a no brainer from my point of view

laurie
 
To find the true value of AYN just dig up information about SILVER or should I say the lack of silver on the world markets the major problem with AYN could be the recovery cost per ounce of silver from memory that was a major problem many years ago with many other miners the only way to cut that cost down is higher grade silver or much more of it to justify the mine life :2twocents

laurie
 
Well what a day for AYN 89% up on the placement price of .035c, JORC yet to be tabled and silver hitting an all time high topped up today as this may have left the sideways .054c sp in the past :2twocents

laurie
 
The silver bull run is just getting started...with more rises yet to come, we should see AYN generating even more interest. Watch this space~!


laurie said:
Well what a day for AYN 89% up on the placement price of .035c, JORC yet to be tabled and silver hitting an all time high topped up today as this may have left the sideways .054c sp in the past :2twocents

laurie
Click to expand...
 
qe2infinity said:
The silver bull run is just getting started...with more rises yet to come, we should see AYN generating even more interest. Watch this space~!
Click to expand...

Can I add that the silver run has been going for a while, and it is more volatile than gold so the stocks can bite more quickly.

But good comment, AYN is definitely getting more interest. They are looking at starting production from their heaps in September, and have raised 16.7M recently to cover this cost; this means they are a nearer term producer than some of the other Ag's; plus they are to start drilling in the near term on some other "exciting" prospects Zn - Cu.

Note that the mine opening is not September, the production is to come from already extracted bearing material.

Volume has really come into this stock lately and the SP is moving strongly.

2-03-2011 11-09-43 AM.jpg
 
Mining operation info

16th Feb development update said:
Subject to the on time delivery of the major components and minimal weather delays, the Company then intends to complete construction and commissioning at Twin Hills during the second Quarter of 2011, and ramp-up to full scale commercial silver extraction during the third Quarter at an initial annualised rate of 1.5-2.0Moz.
An economic review of the Twin Hills Project was completed last Quarter, which confirmed that the operation is well placed to generate strong operating margins based on a forecast annual processing rate of 1Mtpa from the Twin Hills resource. At this production rate, the operation would generate average annual silver production of 1.5-2.0Moz (with fluctuations from year to year typical of a heap leach project) and have forecast unit cash operating costs of approximately A$13.50/oz.
Click to expand...

1.5 Moz at $27 / oz gives $ 40M / yr from the mine, or $21M net.
 
ob1kinobi said:
Thanks for the info Mr Jeff, much appreciated

BTW are you holding?
Click to expand...

ob1,

I have a small holding, nothing too serious. I will be adding very aggressively if this price action keeps up - which seems at the moment to have some gusto behind it.

Actually I have been looking at AYN for about a year and just never found their economics that appealing, the only thing I like is the near term sales and the fact that my shares are going up. Ag price is pulling away from their margins which is reassuring.

BUT I am coming to like the speed at which their plans have been cemented and actioned, so I guess you could commend the mx so far.
 
First revenue from trial silver production expected to be delivered in June Qtr 2011 this will tell the true story where AYN is heading you need to have a ticket and be on the train by then and this does not have the copper & zinc factored in the existing sp just pure silver :2twocents
 
mr. jeff said:
ob1,

I have a small holding, nothing too serious. I will be adding very aggressively if this price action keeps up - which seems at the moment to have some gusto behind it.

Actually I have been looking at AYN for about a year and just never found their economics that appealing, the only thing I like is the near term sales and the fact that my shares are going up. Ag price is pulling away from their margins which is reassuring.

BUT I am coming to like the speed at which their plans have been cemented and actioned, so I guess you could commend the mx so far.
Click to expand...

Thanks Mf Jeff, I too have a rather small holding.

OB1
 

Similar threads

R
Your Due Diligence Process
Replies
5
Views
1K
galumay
galumay
R
RYAAY - Ryanair Holdings PLC
Replies
0
Views
747
robertbanking
R
R
Peter Lynch Book
Replies
3
Views
1K
divs4ever
divs4ever
basilio
Ozempic: Magic Pill or Devils Bargain?
Replies
10
Views
1K
sptrawler
sptrawler
basilio
How valuable are two parent families?
2
Replies
28
Views
3K
Value Collector
Value Collector
Top