AEV - Avenira Limited

[adamim1]

Re: MAK - Minemakers

Interesting read from legend. (GCR thread)

Lady Annie being described as one of the largest undeveloped phosphate mines in world which is located in the georgina basin. Where as MAK describes wonarah as the largest undeveloped phosphate mine in Australia. Which is located in the georgina basin. So who has got more?


In legends presentation they state that they are going to produce 5 million tonnes per year compared to MAK's 2 million tonnes per year.

 

[gfresh]

Re: MAK - Minemakers

Minemakers is JORC.. GCR's is... :hide:

Mt Isa Phosphates – Resources Retraction

Further to GCR’s announcement dated 29 May 2008 regarding its Mt Isa Phosphates Joint Venture with Legend International Holdings Inc (OTCBB: LGDI), in response to a request by ASX, GCR wishes to retract all quoted tonnages and grades of rock phosphate on the joint venture properties, made in GCR’s December and March Quarterly Reports dated 14 January 2008 and 21 April 2008 respectively, its response to ASX’s price query dated 7 May 2008, and its announcements dated 18 December 2007 and 29 May 2008.

The quoted estimates are pre-JORC Code, and therefore cannot be reported under the ASX Listing Rules.

Lets see whether GCR can actually prove up resources before they get too carried away claiming tonneages...

 

[adamim1]

Re: MAK - Minemakers

Trading Halt lifted this morning

http://www.aspectfinancial.com.au/d...lc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=

 

[Sean K]

Re: MAK - Minemakers

Trading Halt lifted this morning

http://www.aspectfinancial.com.au/d...lc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=

I didn't even consider buying the clawback was a potential at this point. Especially the way the halt was announced. This was never a 'JV' in my mind.

Anyway, market likes it for the moment.

Since most of 'us' think there's some significant longer term potential here, losing a dead partner must be a good thing. Probably makes my thoery of a JV with a Poo producer less likely something management will pursue though.

 

[Sean K]

Re: MAK - Minemakers

Great move on the equity control of Wonarah yesterday, but still in a downtrend channel I'm afraid, and now the old support at $2.00 is probably resistance.

AD is back on Boadroom Radio again discussing the ann. He's gotta be the most regular guest they have there. In addition to the ann he details a visit to the NT last week to talk to ministers, rail and port authorities. And important to me is good discussions with the CLC about land issues. Seems they are on board and the local leaders are very supportive of Wonarahs rapid developent. Looks like 2 years to production isn't out of the question at the moment.

A link to the interview is through egoil in the Media Centre.

 

[adamim1]

Re: MAK - Minemakers

http://www.aspectfinancial.com.au/d...lc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=

Trading halt again?

JORC announcement.

 

[J.B.Nimble]

Re: MAK - Minemakers

Trading halt again?

JORC announcement.

This may not be the JORC announcement we've been waiting for ...

"...an announcement in respect to JORC compliance matters on previously announced estimates of mineralisation."

Oh dear, I suspect this announcement is not going to help the sp, but look on the bright side... we may get a good chance to buy more of what we all believe in at a much better price...

 

[Sean K]

Re: MAK - Minemakers

This may not be the JORC announcement we've been waiting for ...

"...an announcement in respect to JORC compliance matters on previously announced estimates of mineralisation."

Oh dear, I suspect this announcement is not going to help the sp, but look on the bright side... we may get a good chance to buy more of what we all believe in at a much better price...

Yes, doesn't sound too flash does it. Could either be Wonarah or Moina, but you'd expect Wonarah. They couldn't possibly have come up with a revised JORC yet. Surely. Maybe an upgrade? How could they downgrade it at this stage? Just have to wait and see I suppose....

 

[Sean K]

Re: MAK - Minemakers

I've been wondering about this halt and it must be in relation to their last couple of anns where they have been stating the JORC of Wonarah. I assume the ASX is not happy with them for some reason, and MAK are required to submit a revised statement under ASX guidelines.


3 June ann on Clawback purchase:
Wonarah hosts the largest undeveloped rock phosphate deposit in Australia. Its northern sector alone contains a JORC-compliant inferred estimate of 1.95 billion tonnes at 23% P2O5 at an in-ground grade of 23%. (Refer 2006 Minemakers Prospectus.) Minemakers holds over 2,200km² of prospective ground around Wonarah as granted tenements, and a further 310km² under application.

3 June amendment:
Wonarah hosts the largest undeveloped rock phosphate deposit in Australia. Its northern sector alone contains a JORC-compliant inferred estimate of 1.95 billion tonnes at 14.4% P2O5. (Refer 2006 Minemakers Prospectus.) Minemakers holds over 2,200km² of prospective ground around Wonarah as granted tenements, and a further 310km² under application.


4 June amendment:
Wonarah hosts the largest undeveloped rock phosphate deposit in Australia. Its northernsector alone contains a JORC-compliant Inferred Resource estimate of 1.95 billion tonnes at 14.4% P2O5. (Refer 2006 Minemakers Prospectus.) Minemakers holds over 2,200km² of prospective ground around Wonarah as granted tenements, and a further 310km² under application.

I have bolded and underlined the changes.

The correct figures should be:
1.95Bt@14.4% and
72Mt@23%

I assume the ASX wants them to get the wording correct here, or possibly make them go back to the 72Mt figure for some reason.

Whatever the case, I think it's just a minor point in regard to the deposit and nothing sinister. What confirms it to me is the Boardroom Radio interview just yesterday where everything was full steam ahead. No change to any of the fundamentals and viability. Mining in 2 years! I hope....

 

[adamim1]

Re: MAK - Minemakers

hmmm..

I see what your saying. But i dont think it is that. Why put a trading halt on for? They have been talking about these figures for ages, why now go on trading halt to figure out wording....

Has to be something different.

 

[Sean K]

Re: MAK - Minemakers

hmmm..

I see what your saying. But i dont think it is that. Why put a trading halt on for? They have been talking about these figures for ages, why now go on trading halt to figure out wording....

Has to be something different.

hmmmm, yes, you are right I think. Why go into a halt just to respond to an ASX query? Now you've made me nervous again.

 

[J.B.Nimble]

Re: MAK - Minemakers

Also interesting that they have halted until Tuesday - a longish halt?? Suggestive to me that they have been pulled up, done what they had to, and are now arguing their case before agreeing to make an announcement they would prefer not to make...? Maybe I am reading too much in to this...

 

[Sean K]

Re: MAK - Minemakers

Also interesting that they have halted until Tuesday - a longish halt?? Suggestive to me that they have been pulled up, done what they had to, and are now arguing their case before agreeing to make an announcement they would prefer not to make...? Maybe I am reading too much in to this...

No, I think you may be right somewhat JBN. I think most concerns from punters at the moment is that they will downgrade it or something making it less viable and negatively effect the sp. However, everyone must remember that there has been heaps of work done on this deposit (IMC/AKD/RIO) and that the size and grade should be NO change after further drilling to satisfy current JORC standards. Maybe I'm just trying to settle myself. I hate these types of halts!

 

[pattyp]

Re: MAK - Minemakers

I just posted this on another forum... My opinion...

------------------------------------------------------------
"maybe but most likely wonarah, my feeling its a clarification of resource they stated in the last announcement... or it could be an upgrade or downgrade of the rio estimate"

Its only likely wonarah because that's all anyone focus' on...

So far they have corrected their "Announcements" on market... I cant understand why they would take 3-days to do this again.

Also its WAY too early for drill results... surely...?

Fluorspar results were due months ago. MAK already have historical data that proves the reserves, but not to today's JORC standards. They were doing more tests in Europe so that they can finally certify it.

Time-lines and yesterdays wording lead me to think its the fluorspar...

Listen to the Interview
http://www.brr.com.au/event/MAK/2097/38107/wmp/xdcvmmm947

I also had email correspondence with AD 3-weeks ago and I was specifically after the Fluorspar outcomes... He said soon, within weeks he hoped...

My odds are 70% Fluorspar, 30% Phosphate...

Exciting stuff - I don't think its gonna be bad news.

Pat
------------------------------------------------------------

 

[blum]

Re: MAK - Minemakers

I don't think it's a longish halt - remember, Monday is the Queen's birthday in NSW, so ASX will be closed, won't it?

 

[adamim1]

Re: MAK - Minemakers

Also interesting that they have halted until Tuesday - a longish halt?? Suggestive to me that they have been pulled up, done what they had to, and are now arguing their case before agreeing to make an announcement they would prefer not to make...? Maybe I am reading too much in to this...

I don't think that would be a case to stop trading. There are ASX rules governing trading halts.

 

[YELNATS]

Re: MAK - Minemakers

My odds are 70% Fluorspar, 30% Phosphate...

Exciting stuff - I don't think its gonna be bad news.

Pat
------------------------------------------------------------

You're a breath of fresh air, Patty, hope you're right despite the uncertainty of the wording of the announcement.

 

[crisstoff]

Re: MAK - Minemakers

Not sure if this has been posted before, but has a 12 month target of $ 3.26

http://www.bby.com.au/internet/research/daily/PDF/mak.pdf

 

[Sean K]

Re: MAK - Minemakers

Not sure if this has been posted before, but has a 12 month target of $ 3.26

http://www.bby.com.au/internet/research/daily/PDF/mak.pdf

Thanks for posting this, I haven't seen it before.

$3.26 sounds ok to me, but I'll take the $9.00 as well.

Recommendation: BUY

Investment Summary

We initiate coverage on Minemakers Limited (MAK) with a BUY recommendation and a 12 month price target of A$3.26/sh based on our conservative project timetable. If MAK is able to deliver the project within its indicated timeframe the DCF valuation would be over A$9.00

.

 

[adamim1]

Re: MAK - Minemakers

If this information is good today. I feel we might see it run. Just looking at all the buys coming in... they're higher in price then the sells.

Thats if the trading halt ends today.