Australian (ASX) Stock Market Forum

AGY - Argosy Minerals

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dj_420 said:
i dont know if anyone knows much about these guys, here is the link for the resource estimates

http://www.mbendi.co.za/indy/ming/nkcb/af/bu/p0005.htm
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New 20-F filed for U.S. listing. IMHO will re-list both in Canada and U.S. Exchanges and will follow in the path of NASDAQ Sutton Resources that went meteroic (over US$12 dollars am relying on my foggy memory) about a decade ago before it was bought out by Barrack. AGY resource is massive and the price of nickel has gone thru the roof in the mean time. Technical action on AGY is text book perfect as it moves towards 50 cents under a near total absence of selling pressure. Good luck to all longs (i am enjoying this ride while located at Daytona Beach where the weather is perfect).
 
hey guys

it seems the political situation is stabilising in burundi. the FNL rebels will sit down with govt again and discuss what positions in the army FNL will assimilate when they lay down weapons.

i see this as a great move an indication that FNL are ready to at least come to come sort of conclusion. many international investors are beginning to move into resource rich burundi. the world bank has approved $165 million dollar communications infrastructure plan for burundi.

AGY meeting with govt this month could see some sort of a run before then shouls we see more developments with FNL rebels and burundi govt.

http://www.alertnet.org/thenews/newsdesk/L04482195.htm

http://www.harolddoan.com/index.php?name=News&file=article&sid=4151
 
Hi,

I've deleted a couple of posts from this morning. I've left one post so that anyone browsing knows it's having a good day, and we'll leave it at that. Can we please take the intraday commentry to the chat room or via PM, and not clutter the thread with this sort of talk.



Cheers
 
giss said:
whatever....

what is making agy go up...is there an announcement i've missed?
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Could be IMHO one of three things (1) building interest in AGY's massive ni resource equivalent to 6% of world's resource of ni (2) imminent JV terms coming (3) Canadian listing re-instated; or a mixture of all three and approaching meeting with Burundi Government in two weeks time.
 
sydneysider said:
Could be IMHO one of three things (1) building interest in AGY's massive ni resource equivalent to 6% of world's resource of ni (2) imminent JV terms coming (3) Canadian listing re-instated; or a mixture of all three and approaching meeting with Burundi Government in two weeks time.
Click to expand...
And day traders, no?
 
Hello,

It seems to me that there is a lot of interest in this stock more then normal. I can see that there are more buyers building up than sellers. Would it be a good entry point at the moment?

Dom :)
 
stock has been pretty tightly held also, on almost every run there will be a complete lack of sellers.

i think also the story is beginning to get some coverage. the resource in burundi has arounr 6% of the worlds known nickel. so that is a massive resource, coupled with the fact that majors would love to snap this one up on assurance of political stability.

once political stability starts to happen AGY will begin to really see benefits
 
AGY just responded to a speeding ticket issued by ASX. The interesting points about the release is that they refer to discussions with majors on a JV on their PROJECTS. How do u slice and dice Mousangati? and its surrounding deposits. The laterite ni resource is contained in a shallow open pittable zone which lies atop a sulfide zone several hundred meters thick that is laced with PGM's and terms of volume may be much larger that the 185,000,000 tonnes of ore grading 1.3% ni sitting on top. The laterites are also laced with PGM's.
 
agree sydneysider.

it seems a thinly veiled hint at todays price movement. JV with a major. this will be key to huge success of AGY, in addition to lasting peace in burundi.

also one other point is a number of majors have been making moves into burundi with increased political stability. things are looking good for the future.
 
the response to asx query is definately interesting! it leaves the door open to more speculation.
 
giss said:
the response to asx query is definately interesting! it leaves the door open to more speculation.
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Tenke Mining obtained the Tenke copper cobalt deposit in the Congo in the late 1990's and has had a very similar history to AGY's Mousangati with several bouts of force majure. Tenke JV'd with BHP some years ago with at 24.75% interest which was later taken over by Phelps Dodge due to very low copper prices and civil war problems. Tenke contains 7,000,000 tonnes of copper (3.01% grade) in a deposit of 235,000,000 tonnes. Ludlin Mining has just concluded a friendly sharescrip takeover of Tenke valuing their 24.75% at US$1.34 Billion. AGY is in negotiations to conclude a JV on its massive Mousangati deposit which in US$ terms is roughly three times richer per tonne of ore than Tenke (althou it is laterite nickel with cobalt and PGM credits) and its value using current spot metal prices is worth at least twice as much as Tenke for the Mousangati laterites (excluding the underlying nickel sulfides , cobalt and PGM credits which lie underneath the laterites down to 300 meters depth and extend for at least 10 kms). IF Tenke is worth US$1.34 billion for a 24.75% interest what is AGY worth if it retains a 25% interest in a JV with a deposit that is massive and worth twice as much as Tenke? Where will the stock price go?

Did u read Paul Wolfowitz's (of the World Bank) major column in this mornings Wall Street Journal about his bullishness on developments in Central and Sub-Saharan Africa and he mentioned Burundi and next door neigbor Congo?
 
AGY has bounced back from retrace very quickly today to close in the green. looking good for next week, only one and half weeks away for govt meeting, will be the deciding factor!
 
Volatility!!
I love this about Aussie stocks, esp. when a new discovery hits the boards, or newz is released that shakes the ground....

on March 16 Argosy made such a nr, sending shares from 12 1/2c to 34c....
it has since doubled to 68c.....so what's all the stir ?..

exploration could possibly begin again in Berundi on one of the major undeveloped nickel deposits in the world, IF the guv gives the go-ahead on April 23, when a team from AGY will meet with Berundi officials....

http://www.asx.com.au/asx/research/...panyName=&principalActivity=&industryGroup=NO

so how likely is it that AGY will win approval to proceed with exploration....any opinions?
 
well to begin with the proposed nickel mine will give the burundi govt 15% of earnings, so they will be very keen to get it up and running inject a massive amount of cashflow straight into their economy.

AGY will set up a company that delivers 15% of earnings to govt. with burundi govt wanting to develop infrastructure national telecommunications they will want all the foreign investment they can handle.

all AGY need to be set is a JV partner, and read into the ann about options, thinly veiled hint at what is about to be revealed IMO.
 
siempre33 said:
Volatility!!
I love this about Aussie stocks, esp. when a new discovery hits the boards, or newz is released that shakes the ground....

on March 16 Argosy made such a nr, sending shares from 12 1/2c to 34c....
it has since doubled to 68c.....so what's all the stir ?..

exploration could possibly begin again in Berundi on one of the major undeveloped nickel deposits in the world, IF the guv gives the go-ahead on April 23, when a team from AGY will meet with Berundi officials....

http://www.asx.com.au/asx/research/...panyName=&principalActivity=&industryGroup=NO

so how likely is it that AGY will win approval to proceed with exploration....any opinions?
Click to expand...

Temke Mining went thru the same timeline with its Tenke Coppoer Cobalt deposit and bouts of force majeuer and just sold itself to Ludlin for US$1.3 billion in a share swap for a 24.75% interest. See previous post on valuations. AGY is already up another 14% on the opening on very low volume. Good luck to all longs, we have have hit a major motherlode here.
 
quite an increase this morning, have heard rumours of RIO involved on other chat sites.

we just have to wait and see what unfolds. massive resource, reduced political risk. burundi govt get 15% i think it could eventuate into a large mining house pending JV etc
 

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