AEV - Avenira Limited

[phong_01]

Re: MAK - Minemakers

I think they will announce on Tuesday next week when there are more people trading. There are not many people trading today.

I believe that it will be a good news. The management must be very confident about the business before they bought the 10% claw back right. So it must be good news.

Another company (Bonapart Diamond, BON), that Andrew Drummond is also Director, is also in trading halt today. Not sure if it relates to the MAK trading halt?

 

[Sean K]

Re: MAK - Minemakers

I think they will announce on Tuesday next week when there are more people trading. There are not many people trading today.

I believe that it will be a good news. The management must be very confident about the business before they bought the 10% claw back right. So it must be good news.

Another company (Bonapart Diamond, BON), that Andrew Drummond is also Director, is also in trading halt today. Not sure if it relates to the MAK trading halt?

I'm not sure if the ASX would approve with an ann being delayed due to the quatity of people 'trading'.

I agree management must be confident with the claw back buy, and it looks to be a bargain. Hints that the news will not be bad, but not necessarily good.

BON halt has nothing to do with MAK JORCs...

However, thanks for pointing them out. Looks like they're jumping on the Poo bandwagon too. Must check.

 

[Sean K]

Re: MAK - Minemakers

Can't use the 1.95b tn @ 14% (even though it's most probably there) but can use the 72 mt @ 23%.

No change in future prospects here.

Except whoever cocked up the reporting back in assessing the project needs a shalacking.

Carry on.

 

[adamim1]

Re: MAK - Minemakers

The Sp went from going to open at 2.14 to now sitting at 1.80.

Might be a good opportunity to buy more.

 

[Sean K]

Re: MAK - Minemakers

The Sp went from going to open at 2.14 to now sitting at 1.80.

Might be a good opportunity to buy more.

Could be. Doesn't effect the economics of this, or the valuations that BBY put on it. Planning to mine 3Mt per annum so with the 72Mt they have a mine life of over 20 years....By that time RP will be back at $50 probably. I think the market might be going into a corrective period though so maybe there will be other opportunities, but who knows. Amusing seeing fear take over the the brain in regard to this ann. Amusing if it wasn't money disappearing.... Wouldn't be surprised to see those with deep pockets taking advantage of this drop. The potential for $1b +/- cashflow in 2 years is still there.

 

[adamim1]

Re: MAK - Minemakers

Chain reaction.

Interesting to see how far it actually falls. I can't imagine that all these people read a 39 page report this quickly.

 

[kenny]

Re: MAK - Minemakers

Where can I access the 39 page report, adamim1? Etrade doesn't show me any MAK announcements for today.

Thanks,

Kenny

 

[derty]

Re: MAK - Minemakers

Kenny you can find it on their website here:
http://www.minemakers.com.au/downlo...ficationofHistoricalResourceEstimateFinal.pdf

 

[tigerboi]

ReESKTOP EXPLORATION...MAK GETTING ITS PANTS PULLED DOWN

Very dangerous sending this one up 1000% on the desktop conceptual targets,love that one a la fdl & mxr...

mak now getting spanked a beauty,just shows you 100% nothing like a jorc & rio did pass it up...tb

report is at asx.com

 

[Atma]

Re: MAK - Minemakers

tigerboi- rio passed it up but wasn't RP price about $40/t. With RP similar tracking to oil, i doubt RP price is going down soon. RP price is $400/t FOB.

mak only need to produce not even 1/2 of 1 mT to justify current market cap really assuming some capex of about $150m. They may get lucky as the Direct ship prospect will go well and cut down development time and maybe $10/t in costs of mining.

 

[derty]

Re: MAK - Minemakers

tigerboi - there is quite a difference between drawing some lines about some mag highs and inferring +1Bt FeO and a non-JORC compliant in-house RIO resource based on physical drill holes.

In section 2.4 of the RIO report they state that the resource in non-JORC compliant. There are quite a few ways in which a resource can be non-JORC compliant and some of these (as TTR and GXY have found out) can be as simple as not using the right drilling method or not collecting QA/QC sample data.

Either way the north Wonarah phosphate mineralisation is neither conceptual or desktop.

 

[Sean K]

Re: DESKTOP EXPLORATION...MAK GETTING ITS PANTS PULLED DOWN

Very dangerous sending this one up 1000% on the desktop conceptual targets,love that one a la fdl & mxr...

Ditto the above TB. Very dangerous making assumptions on a stock you obviously haven't read into enough. We all do it from time to time of course.


Having had more of a think about this issue, I can understand the market punishing them for getting this wrong. It's on the back of quite a few errors or mismanagement. While some were out of their control, it's all adding up. Slow to win drill rigs for Fraser Iron, errors in the assays, failing to win rigs for Tassie Tin, errors in the Tungstan assays, delays in the additional drill targets from the EM survey of Franklin and then changing it to 'non core', Moina polymetalic metallurgy delays and then resignation of lead consultant, and changing the plan to concentrate on Flourite, and now all this fuss about what can be claimed as JORC'd. Geez...and that's off the top of my head...

Obviouly, I'm still a bull on them getting Wonarah over the line, pending RP prices. If they stay above $200t it's a great money spinner, over $300t and it's fantastic. The BBY analysis giving them a 1 yr target of $3.60 to best case $9.00 remains extant.

It's just sentiment effecting them at the minute, which they MUST fix!

Chart wise, lets all hope that support between these support levels holds up...

 

[Sean K]

Re: MAK - Minemakers

BBY trying to reassure clients and actually telling them to buy more.

Minemakers Limited
20 years plus for the “Big MAK”

10 June

Minemakers Limited (MAK) has clarified the classification of the northern area phosphate deposits in the Georgina Basin. The resource estimate clarification does not effect the Main Zone which will be targeted for the development of the Wonarah Phosphate Project. The estimate of the northern area deposits does not impact our recommendation as these deposits are not intended to be mined within the 20 year life our valuation is based on. We maintain our BUY on the stock and 12 month price target of $3.26.

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

Makes me feel a little warmer inside.

Just.

 

[adamim1]

Re: MAK - Minemakers

BBY trying to reassure clients and actually telling them to buy more.



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

Makes me feel a little warmer inside.

Just.

Hopefully they're working on getting that northern area a JORC. Once that is done, we will probably see new confidence in MAK. If i had money to spend i would probably buy more.

I still feel worried though.

 

[Sean K]

Re: MAK - Minemakers

Hopefully they're working on getting that northern area a JORC. Once that is done, we will probably see new confidence in MAK. If i had money to spend i would probably buy more.

I still feel worried though.

Did they mention anything about the current drill program going north? I don't think so. I think it's just the high grade area and Arawarra (or however it's spelt), in order to sort out metallugical studies and see if they can start on Arawarra at the earliest to start generating cash. While the early hype was around a $57b IGV, the facts are they are only going to start mining something like 1mt pa and step it up to 3mt. And if the supply demand curve demands it they could expand that a bit.

On $400 a tn RP, potential cash flow $1b +.

Current MC, about $100m.

The correction we had to have has been had perhaps.

Unless they **** up some more figures, or drilling results come back as dust.

 

[tigerboi]

Re:SEEN THE REPORT

Hey kennas ive read the report & what im saying is this...there is nothing like a jorc,well aware of the 4x rise in prices & that was the reason rio passed it up,long way to go before mak get the stuff out of the ground,notwithstanding the logistics of i believe of hauling the 2mt by roadtrain.

fyi i was asked to do a ball park figure on the transport contract side of the operation many months ago...tb

2mt by road 240kms at 100t per trip,costly then & more so now...

speaking of phosphate did anyone see the sbs report on morroco's illegal occupation of western sahara were ipl also get their stuff?

 

[adamim1]

Re: SEEN THE REPORT

Hey kennas ive read the report & what im saying is this...there is nothing like a jorc,well aware of the 4x rise in prices & that was the reason rio passed it up,long way to go before mak get the stuff out of the ground,notwithstanding the logistics of i believe of hauling the 2mt by roadtrain.

fyi i was asked to do a ball park figure on the transport contract side of the operation many months ago...tb

2mt by road 240kms at 100t per trip,costly then & more so now...

speaking of phosphate did anyone see the sbs report on morroco's illegal occupation of western sahara were ipl also get their stuff?

I think i saw figures that they could produce the RP for $100/t. Pretty good if RP prices are 400/t.

Lets just remember that they're in the same positions as they were 6 weeks ago.. Only 6 weeks closer to production.

 

[grace]

Re: SEEN THE REPORT

speaking of phosphate did anyone see the sbs report on morroco's illegal occupation of western sahara were ipl also get their stuff?

I think I posted a link earlier in the piece about this where the mine workers are watched with automatic machine guns!!! I believe it has been happening for some 30 years or so (don't quote me on the timeframe though).

Do you have a link to the sbs report? Thanks Grace.

 

[pattyp]

Re: SEEN THE REPORT

Hey kennas ive read the report & what im saying is this...there is nothing like a jorc

They have a JORC... 72MT @ 23% done in 2001...

I'll simplify the latest Announcement so that we all understand it...

"The 1955MT @ 14%, that we were NOT going to even think about mining for at least 15yrs, is NOT JORC... But the 72MT @ 23% which we ALWAYS intended to mine and sell IS JORC and we will continue the project as Planned. Sorry ASX for the mix up".

For days now, on so many forums and sites, I have read so much un-research garbage about this "JORC" thing... I am absolutely amazed how many have an "Expert" opinion without having made any effort to understand the project.

See extracts below...

Cheers,
Pat

 

[ronski456]

Re: MAK - Minemakers

From a Technical Analysis view does anyone have a strong opinion where MAK is heading in the next 3-5 months?

It looks very (Weinstein) Stage 4 downtrend to me, and with a H+S projection to 1.50.

A reasonable target to buy into?

Any opinions out there re: Fib retracements?

Cheers,
Ronski