AIM - AIM Resources

[adobee]

Any of you guys holding this .. all time low at close today ? 7.7c..
whats the storey ???
Last time I looked at aim it was 30c +

Are they actually going to get somewhere or are the directors just burning that cash .. ? Do they roll around in private choppers.. ?
I am tempted to pick some up around this price.. but who knows how long this one could be holding .. market seems to have lost confidence.. ?

 

[Datsun Disguise]

I've got options at a price that I thought was rock bottom - seems I was a little off the mark.... - perhaps it was more like sand stone...

The soft zinc price is not helping - I think it is around about half what it was a year ago. They haven't yet got a sales agreement for the remaining concentrates, but are supposed to be in negotiation with a couple of big smelters.

atm I'd say that it is probably fair value - what they need is something in addition to the zinc project - they have the Mumbwa Copper-Gold Project – Zambia and the Mokopane Nickel-Platinum Project – South Africa but no real news flowing from these projects. They have been concentrating on the perkoa zinc project for a while now.

Anyway, first ore in November 08 - we should see some appreciation in zinc prices as production/demand balance falls in producers favour and therefore share price before June 09 when my oppies evaporate..

 

[WRONG'UN]

On 8 May they reported that 2 of 15 Mumbwa holes had been completed. First assay results were expected "within approximately 8 -10 weeks", which means we could be hearing something very soon.

 

[Pat]

AIM has been punished this month. It would seem the market cares not for AIM and it's SP. To me this is very cheap. 6.8 cents that is. Lost almost 50% in the last 30 days.

 

[SGB]

AIM has been punished this month. It would seem the market cares not for AIM and it's SP. To me this is very cheap. 6.8 cents that is. Lost almost 50% in the last 30 days.

yes Pat,

You'll find alot of the small speck plays that have been in a downward trend this financial year will be getting sold off for tax reasons.
Might be a different story come July,August.

SGB

 

[Pat]

yes Pat,

You'll find alot of the small speck plays that have been in a downward trend this financial year will be getting sold off for tax reasons.
Might be a different story come July,August.

SGB

Your right SGB but in my opinion AIM is not so "spec" as some others your reffering too. Though the market does not seem to agree.

 

[Pat]

Your right SGB but in my opinion AIM is not so "spec" as some others your reffering too. Though the market does not seem to agree.

Well ****!!!! Care and Maintenance. Well I was wrong SGB. Not silly enough to be holding during these down times

 

[WRONG'UN]

Not really surprising, considering the low zinc price. It proves once again that no matter how cheap a sp may seem, it can always get cheaper!
The only thing that will help the sp now (apart from an improvement in the Perkoa economics) would be good results from the Mumbwa copper drilling - they should be available now according to earlier company statements - where are they? Maybe the bidders in the 2.5 - 2.9 range are betting on this.
I must confess I had a crack at AIM a while back at 6.6c, but my "1 tick" stoploss didn't take long to fire - out at 6.5!
Cheers, Wrong'un

 

[michael_selway]

Not really surprising, considering the low zinc price. It proves once again that no matter how cheap a sp may seem, it can always get cheaper!
The only thing that will help the sp now (apart from an improvement in the Perkoa economics) would be good results from the Mumbwa copper drilling - they should be available now according to earlier company statements - where are they? Maybe the bidders in the 2.5 - 2.9 range are betting on this.
I must confess I had a crack at AIM a while back at 6.6c, but my "1 tick" stoploss didn't take long to fire - out at 6.5!
Cheers, Wrong'un

The other thing that can help AIM now is if Zinc Prices skyrocket from here on in

 

[Datsun Disguise]

The other thing that can help AIM now is if Zinc Prices skyrocket from here on in

Looking at price vs stocks, it looks like there may be some upcoming volatility in the price, looks like a slight over supply which has been increasing stocks, pretty much since the price peaked out in Dec 06. You'd have to say that the fall in price now may have pushed a number of projects into the hole with AIM, ie not being economic. A possible scenario is a bit of volatility over the next 2 years while the supply / demand / price get sorted out and we arrive at the fair price. The risk is it settles at the 0.5 USD/lb mark. Then AIM could fill up their hole with water and open a public swimming pool - have to be popular in Burkina Faso? I'm an ideas man.

The question is was it over supply or under demand that has caused the price to fall? Any commodities junkies got an answer to that? Was it a zinc bubble?

Well whatever, doesn't change the fact I took a bath on this one. My fault - didn't pay enough attention to the fundamentals, just looked at imminent production and outdated feasibility studies. ouch.

 

[WRONG'UN]

Thanks Michael
Sure, an improvement in the zinc price, along with other factors, is what I meant by "project economics".
I posted some notes on the Mumbwa project on 4 Feb 2008 (p18 of this thread) - at that time the sp was 10.5cents, copper was $3.20 and the $A was about 0.90. Unlike zinc, the copper price has increased since then, to the extent that the in-situ value of the possible resource has actually increased. With the decline in the sp, the valuation per share has more than trebled. As YT rightly pointed out, this is all "pie in the sky" stuff, but I'll be keeping an open mind about it.
Cheers, Wrong'un.

 

[Datsun Disguise]

An interesting development out today - I wonder what they expect to achieve by taking court action? A secondary concern - what was Marc up to? And how is it related to the North Sound Litigation?

AIM Resources Limited (“the Company”) advises that it has commenced proceedings in the Supreme Court of New South Wales against Mr. Marc Flory, a former managing director of the Company, together with other parties, in respect of alleged breaches of duties while a director of the Company.

 

[Pat]

An interesting development out today - I wonder what they expect to achieve by taking court action? A secondary concern - what was Marc up to? And how is it related to the North Sound Litigation?

An interesting development and all time lows. The AIM story seems to be all over, hope i'm wrong. Good luck to any holders.

 

[bvbfan]

I calculate they have about 57.7million in cash on 1,360,520,808 shares

4.3c in cash per share.

Once zinc recovers in 2010 or so these could come back, will it survive that long as Perkoa is an attractive project, just happens to be in a shocking company.

 

[Mr Peaman]

Well the zinc prices havent risen and perkoa is still in submission.
They do however have 35 million in cash, and assets: the pecora mine the big one.

35million cash and a Market value of 25 Million.. .What the? Seems Very undervalued...

The BHP Joint venture looks extremly promising... Potential takeover from BHP is on the cards from this IMO. Drill results as follows:


Mumbwa Drilling Results
KEY POINTS
• 401m of copper (“Cu”) mineralisation indentified in drillhole S36-017, between 62m and 463m depth;
• Average weighted Cu grade over the entire 401m sampled interval is 0.98%;
• Mineralisation appears to be more persistent from 161m to 431m depth for a drilled thickness for 270 metres @ 1.37 % Cu;
• Mineralised zones identified include the following drilled thicknesses:
o 12 metres @ 1.17 % Cu between 161 and 173 metres;
o 20 metres @ 1.01 % Cu between 177 and 197 metres;
o 228 metres @ 1.47 % Cu between 203 and 431 metres.
• Best drilled intersections greater than 10% copper include:
o 19.50 % Cu between 285 and 289 metres;
o 11.05 % Cu between 316 and 317 metres.


Where's Young Trader when you need him.. what's your thoughts YT? You were in this earlier in the year..

 

[adobee]

AIM resources? What has happened the company seems to have disappeared? Nothing on their website about delisting any one know whats the go?

 

[weekender]

Read their latest announcement. It has a full schedule about what you want to know.

ASX Circular: Reorganisation of Capital


Cheers,

Ron.

 

[Joe Blow]

Aim Resources (AIM) is now known as Blackthorn Resources (BTR) and all discussion of this company will continue here: https://www.aussiestockforums.com/forums/showthread.php?t=13820

This thread has now been closed.