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AAM - A1 Minerals

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greggy

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Lately I've come across the overlooked A1 Minerals. It has over 600,000 oz at its WA gold project with no doubt more to come. It is aiming fo 1 million within 2 years and will be in production next year. It has ground next door to the Mulga Rocks Uranium Deposit in WA, which is one of the largest undeveloped uranium resources in Australia, and will be working on it during the next few weeks. A! Minerals has over 2 million in the bank. With under 60 million shares and a price of 28.5c, it seems to be a real bargain. But please do your own research before buying.
 
Well they are even cheaper now and continuing to get good drilling results such as:

(10/1/06)
2m @69.4 g/t Au at Beta

6/6/06
22m@28.6 g/t Au,
2m @ 4.7 g/t Au ( - from 3m!)
2m @ 27.2 g/t Au (from 7m depth)

The last 2 results are from regional aircore drilling (outside current JORC resource area).
 
Good drill results. Likely going into production mid-2007. Not great revenue but profit to help fund further exploration. Undervalued compared to companies mining in the same region (e.g. SBM). However did read somewhere that the management might not be up to scratch. It was one of those I know someone who knows someone who is in the know. Has anyone else heard similar reports?
 
exgeo said:
Well they are even cheaper now and continuing to get good drilling results such as:

(10/1/06)
2m @69.4 g/t Au at Beta

6/6/06
22m@28.6 g/t Au,
2m @ 4.7 g/t Au ( - from 3m!)
2m @ 27.2 g/t Au (from 7m depth)

The last 2 results are from regional aircore drilling (outside current JORC resource area).
Click to expand...

On charting criteria this is a very very sick little puppy. Unless a miracle happens it may be reasonable to assume that those in command lack the skills or that their time has not come. Enclosed is my first chart, a descending triangle on price which appears inexorably headed towards a lower price.

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=6321&stc=1
 

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AAM are currently conducting a feasibility study into mining their initial resource (6.2Mt @ 3.1 g/t Au for 634Koz Au). Originally scheduled to finish by end 2006. They plan to build a mobile gold processing plant at a central location and truck ore to the central processing facility, or presumably relocate the plant if a new large resource is discovered. A ball mill has been secured by deposit and currently designing the tankage for the plant.

Extensions to the existing JORC resources continue to be found, eg/ 15m @ 4.4g/t from 120m depth at Brightstar Delta.

At Brightstar Epsilon rockchip samples over a 400m strike got 20.1g/t Au, 1.2g/t Au and 17.1g/t Au. No drilling so far.

A 50 sq km tenement was purchased for shares from prospectors. Historic production at the Ogilvies mining centre from 43 shafts over 2km of strike on this ground. Historical production was at a reported grade of 29 g/t Au. Dump sampling from the old shafts gave an average grade of 10 g/t Au and a peak of 80 g/t Au. Little modern exploration.

10,000m drill programme of RAB and RC to start in Feb 07 for exploration and resource extensions.

Corporate $3.1m cash from Dec 06 qtly. Expecting to spend $450k next qtr. 72.5m shares for market cap of $13m at 18c. Various options, the cheapest strike being 25c. Looking at a long-term chart back to 2003, the stock doesn't appear to have spent any time below 18c although that level has been tested a couple of times.
 
exgeo said:
AAM are currently conducting a feasibility study into mining their initial resource (6.2Mt @ 3.1 g/t Au for 634Koz Au). Originally scheduled to finish by end 2006. They plan to build a mobile gold processing plant at a central location and truck ore to the central processing facility, or presumably relocate the plant if a new large resource is discovered. A ball mill has been secured by deposit and currently designing the tankage for the plant.

Extensions to the existing JORC resources continue to be found, eg/ 15m @ 4.4g/t from 120m depth at Brightstar Delta.
Besides ther

At Brightstar Epsilon rockchip samples over a 400m strike got 20.1g/t Au, 1.2g/t Au and 17.1g/t Au. No drilling so far.

A 50 sq km tenement was purchased for shares from prospectors. Historic production at the Ogilvies mining centre from 43 shafts over 2km of strike on this ground. Historical production was at a reported grade of 29 g/t Au. Dump sampling from the old shafts gave an average grade of 10 g/t Au and a peak of 80 g/t Au. Little modern exploration.

10,000m drill programme of RAB and RC to start in Feb 07 for exploration and resource extensions.

Corporate $3.1m cash from Dec 06 qtly. Expecting to spend $450k next qtr. 72.5m shares for market cap of $13m at 18c. Various options, the cheapest strike being 25c. Looking at a long-term chart back to 2003, the stock doesn't appear to have spent any time below 18c although that level has been tested a couple of times.
Click to expand...
On top of all this, AAM has ground next door to the Mulga Rocks Uranium Deposit in WA. Maybe down the track AAM may decide to float off this ground or enter into a JV. I don't have any at present, but AAM may need more funding in order to get into production. Hence, the weak share price. The MD has a reasonable stake and is happy to answer any queries. This stock has been totally overlooked.
DYOR
 
Well drilling has commenced again, hopefully a resource extension can snap them out of this senseless downward spiral.

Fundamentally this company is pure gold. :confused:
 
Gar said:
Well drilling has commenced again, hopefully a resource extension can snap them out of this senseless downward spiral.

Fundamentally this company is pure gold. :confused:
Click to expand...
Its a very frustrating stock. It has considerable gold reserves and has significant ground next door to the Mulga Rocks Uranium Deposit. Yet the share price hasn't moved.
DYOR
 
well she's been looking a bit healthier the last week or so, looking forward to them proving up the resources and getting some out of the ground :)

would have liked this latest run to have waited a few more days to aid me in the april comp though lol :D
 
Low grades (1.1 g/t average), but the story may not be finished, yet. Future drilling in the area is going to be very interesting.
 
AAM - A1 Minerals - 1 MILLION OUNCES!!!

Announcement this morning on ASX. :):)

These guys always seem to follow through on their words. A great story only going to get better.

There's the uranium sex appeal too, of course.....
 
The feasabillity delay has been taking its toll on investors confidence but I still have faith they will come through with the goods, I've had this one tucked away in the bottom draw for quite a long time and I've come to realize that they require a lot patience
 
well guys I emailed John Williams last thursday and asked him when he expects the feasibility study to be complete, this is the response I got on friday:

"Thank you for your interest in A1 Minerals.
The current FS is all but complete I hope to have news on this very soon.
As I have previously said we expect to be mining before the end of year."

:)
 
...and here's the response I received from my recent enquiry about the BrightStar feasibility studies...

Dear Shareholder

A1 Minerals is progressing well with its feasibility studies as you may know
it is really two feasibilities in one due to the fact that we are comparing
another facillitie stoll treatment option with A1's own treatment plant
option. The slower progress than expected is due to availability of mining
consultants. I hope to deliver news of this fairly soon. Suffice to say I am
still very positive and there is no doubt the Brightstar will be mined soon.

Thank you for your ongoing interest.

Regards

John Williams - Managing Director

A1 Minerals Limited

Ph: 08 9244 1400 Fx: 08 9244 1600

www.a1minerals.com.au
Click to expand...
 
Here's a quick comparison. Three companies, similar project phase, similar grades, similar resource estimates. Figures may not be accurate, so do your own research. Also, there are individual factors (eg. pre-feasibility outcomes) that may contribute to the variance in value but would very much appreciate any thoughts on AAM.

C'mon peoples, comments?


AAM - A1 Minerals
Last Sale: $0.20
Shares: 89,846,384
Market Cap: $17,969,276
Cash: $5,285,000

Project Location: Laverton, WA

Inferred: 11,032,960t @ 2.10g/t for 734,616oz
Indicated: 2,918,561t @ 2.60g/t for 245,540oz
Measured: 247,800t @ 3.90g/t for 30,770oz

Total: 14,199,321t @ 2.20g/t for 1,010,926oz

% Indicated/Measured: 27%



IGR - Integra Mining
Last Sale: $0.175
Shares: 302,736,181
Market Cap: $52,978,831
Cash: Approx. $8,000,000

Project Location: Eastern Goldfields, WA

Inferred: 2,840,000t @ 2.70g/t for 248,000oz
Indicated: 10,880,000t @ 2.60g/t for 917,000oz
Measured: ----

Total: 13,720,000t @ 2.60g/t for 1,165,000oz

% Indicated/Measured: 79%



NAV - Navigator Resources
Last Sale: $1.04
Shares: 126,281,218
Market Cap: $131,332,466
Cash: $8,079,000

Project Location: Leonora, WA

Inferred: 4,230,000t @ 2.20g/t for 305,000oz
Indicated: 4,420,000t @ 2.17g/t for 307,900oz
Measured: 3,870,000t @ 2.09g/t for 259,700oz

Total: 12,510,000t @ 2.20g/t for 872,300oz

% Indicated/Measured: 65%
 
I dont really know what the problem is?

They keep pushing back the feasibility report which I can understand pisses shareholders off, but with its current market cap at 17m'ish, 5m in the bank, 1m oz of gold and a big chunk of that uranium they just found the price is nowhere near justified.

I think Flyboys right when he says they need to do some serious PR work, maybe spending a bit on a roadshow would be a positive step
 

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