AUM - Australian Mining Investments
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ALFguy
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sangshim said:Oh yeah~ Anyone want to buy my holdings for 50c each?
I have 5 mil shares~ If anyone interested, call me on (02) 9481 1111
:
Congratulations go out to Pizza Hut for investment of the year.
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http://www.smh.com.au/news/business...copper-prospect/2006/07/09/1152383608462.html
just a rumour going round
just a rumour going round
ALFguy
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hillman said:
I think AUM will leave a message with ASX
Gone noon! Next prediction?
Hi all this is my first post. My prediction is that it will not be at least tomorrow before any news, you could take a view that "no news is good news" which if correct then the ASX will be wanting to ensure the results are totally genuine before release as the stock could swing sharply in either direction.
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From http://www.miningnews.net/StoryView.asp?StoryID=61644:
The AMI circus - Dryblower
Monday, July 10, 2006
OH DEAR! What are we to make of Australian Mining Investments and its earth-shattering Rocklands copper discovery in Queensland? As far as Dryblower can see, it's either the biggest thing since sliced bread, and Mt Isa, combined. Or it's going to be a pain in the backside for all concerned.
Fingers crossed that it's the first choice because a major discovery is just what the market needs.
Toes crossed that the bad press over the past 72 hours does not contain any truth because the last thing the market needs is a fizzog, or a discovery which fails to live up to its early promise – for whatever reason.
On the optimistic side of the equation, we have fabulous drill intersections reported by AMI, complete with 59 million tonnes of material at 2.04% copper; a mine in the making.
On the pessimistic side, we have a number of niggling issues that start with a strange rubbishing of Rio Tinto's predecessor company, CRA, for dropping the Rocklands area many years ago, and now involves what appears to be a minor war of words with market regulators and the media.
First, those caustic comments about CRA. They might have seemed fun at the time but they raised eyebrows across the business world for a very simple reason – we are dealing with money, and when it comes to a listed company, we are dealing with "other people's money".
Dryblower, when he first read the CRA remarks, thought them amusing. Now, he's not so sure. For anyone who missed it, here's a potted outline: AMI, in its June 29 discovery report noted that CRA had kicked over the area in the 1980s, and in 1992 suggested that the Double Oxide area of Rocklands was a "major target", adding these words: "It appears CRA was right on the money and directors (of AMI) thank CRA for their contribution."
Gratuitous is one way of describing that remark. Silly is another because all it does is hark back to the time when some AMI people lost a bitter corporate battle with CRA, and they want to tell the world that the old wounds have not healed.
In Dryblower's humble opinion, those wounds ought to have healed and everyone involved should have moved on.
But having revealed a capacity for choosing words unwisely, AMI appears to have had a few problems elsewhere when it comes to getting the details organised correctly, leaving scope for regulators and the media to start forming negative opinions.
Those opinions will be corrected if/when AMI reveals that it really has the goods at Rocklands.
In the meantime, the door has been opened to probing questions into the precise details of share/option conversions, the exact detail of a relationship with a Sydney stock broking firm, and the curious case of Where's Wally – sorry, Where's Wayne.
This final game of finding AMI chief executive, Wayne McCrae, is undoubtedly the silliest part of the exercise but it does provide an insight into how AMI is conducting itself publicly – and that's not very well.
It appears, from assorted media reports, that AMI office staff were instructed to tell inquisitive media types when they 'phoned to speak with Wayne that the boss was unavailable and overseas.
The problem is that only half the answer was true. Wayne was unavailable but he was not overseas. He was in Queensland, at Rocklands.
As with the CRA rubbishing, it sounds like fun at the time. But there is a pattern emerging here and, while gratuitous comments about a rival explorer and leading the media up the garden path are not serious offences, they do say something about AMI.
It's that something which more serious-minded people are now probing because everything comes back to this issue, and mining types must never forget it, even in a boom: public companies deal with the public's money.
__________________________________________________
I definately agree with the second last paragraph...
The AMI circus - Dryblower
Monday, July 10, 2006
OH DEAR! What are we to make of Australian Mining Investments and its earth-shattering Rocklands copper discovery in Queensland? As far as Dryblower can see, it's either the biggest thing since sliced bread, and Mt Isa, combined. Or it's going to be a pain in the backside for all concerned.
Fingers crossed that it's the first choice because a major discovery is just what the market needs.
Toes crossed that the bad press over the past 72 hours does not contain any truth because the last thing the market needs is a fizzog, or a discovery which fails to live up to its early promise – for whatever reason.
On the optimistic side of the equation, we have fabulous drill intersections reported by AMI, complete with 59 million tonnes of material at 2.04% copper; a mine in the making.
On the pessimistic side, we have a number of niggling issues that start with a strange rubbishing of Rio Tinto's predecessor company, CRA, for dropping the Rocklands area many years ago, and now involves what appears to be a minor war of words with market regulators and the media.
First, those caustic comments about CRA. They might have seemed fun at the time but they raised eyebrows across the business world for a very simple reason – we are dealing with money, and when it comes to a listed company, we are dealing with "other people's money".
Dryblower, when he first read the CRA remarks, thought them amusing. Now, he's not so sure. For anyone who missed it, here's a potted outline: AMI, in its June 29 discovery report noted that CRA had kicked over the area in the 1980s, and in 1992 suggested that the Double Oxide area of Rocklands was a "major target", adding these words: "It appears CRA was right on the money and directors (of AMI) thank CRA for their contribution."
Gratuitous is one way of describing that remark. Silly is another because all it does is hark back to the time when some AMI people lost a bitter corporate battle with CRA, and they want to tell the world that the old wounds have not healed.
In Dryblower's humble opinion, those wounds ought to have healed and everyone involved should have moved on.
But having revealed a capacity for choosing words unwisely, AMI appears to have had a few problems elsewhere when it comes to getting the details organised correctly, leaving scope for regulators and the media to start forming negative opinions.
Those opinions will be corrected if/when AMI reveals that it really has the goods at Rocklands.
In the meantime, the door has been opened to probing questions into the precise details of share/option conversions, the exact detail of a relationship with a Sydney stock broking firm, and the curious case of Where's Wally – sorry, Where's Wayne.
This final game of finding AMI chief executive, Wayne McCrae, is undoubtedly the silliest part of the exercise but it does provide an insight into how AMI is conducting itself publicly – and that's not very well.
It appears, from assorted media reports, that AMI office staff were instructed to tell inquisitive media types when they 'phoned to speak with Wayne that the boss was unavailable and overseas.
The problem is that only half the answer was true. Wayne was unavailable but he was not overseas. He was in Queensland, at Rocklands.
As with the CRA rubbishing, it sounds like fun at the time. But there is a pattern emerging here and, while gratuitous comments about a rival explorer and leading the media up the garden path are not serious offences, they do say something about AMI.
It's that something which more serious-minded people are now probing because everything comes back to this issue, and mining types must never forget it, even in a boom: public companies deal with the public's money.
__________________________________________________
I definately agree with the second last paragraph...
In my humble opinion, Wayne MCrae comes across as a down to earth bloke who is sick of the big nobs around saying their right. The media is turning against him unfairly and the brokers in town are upset for not getting into the action thus far. From what I can tell, Wayne's worked 7 days a week for many years on 60 grand a year. Good luck to him and AUM shareholders if they come up with the goods. I don't have any AUM shares, but have a sizeable stake in URL. Any other thoughts out there??
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The West Australian this morning has a general meeting of AMI listed for Wednesday in Cloncurry
Regards
John
Regards
John
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only just got on the computer for the first time today..... no news yet on AUM??
Hi
Please forgive me if this has been covered off, I've never seen a thread go for so many pages.
I'm not a freq poster to this as one could tell, I got lucky and one of my clients told me to buy some AUM a week ago at @$4-odd which I sold 2 days later around $8.30 as soon as it started to slide and before the stop (luckily maybe). So no complaints as I'm ahead. But as a general query, I've heard mention of other companies in the area such as URL, EXS, Xtrata & CUO...
Seems everyone is focusing on the drill results. What I was wondering is simply if anyone knows how are the drill results for other companies in the 'area', and to throw a few hypotheticals out there.
But what is bugging me to some extent (if that is the right word) is companies like EXS (or whichever other one is there)... from what I understand is 'next door' and the claims of AUM were true, and the drill results were that strong, I'd figure some guy at EXS would be telling his mate in Brisbane to go buy a million shares of it and they'll split the money down the line.
And although I think its the market waiting to see what AUM is going to do I dont know why people arent into the other co's and why the others shares didnt rally on say a 'chance' people might become rich like on the AUM deal..
Dont know if thats happened across this region or not.
Thoughts?
(Hopefully this made sense).
Please forgive me if this has been covered off, I've never seen a thread go for so many pages.
I'm not a freq poster to this as one could tell, I got lucky and one of my clients told me to buy some AUM a week ago at @$4-odd which I sold 2 days later around $8.30 as soon as it started to slide and before the stop (luckily maybe). So no complaints as I'm ahead. But as a general query, I've heard mention of other companies in the area such as URL, EXS, Xtrata & CUO...
Seems everyone is focusing on the drill results. What I was wondering is simply if anyone knows how are the drill results for other companies in the 'area', and to throw a few hypotheticals out there.
But what is bugging me to some extent (if that is the right word) is companies like EXS (or whichever other one is there)... from what I understand is 'next door' and the claims of AUM were true, and the drill results were that strong, I'd figure some guy at EXS would be telling his mate in Brisbane to go buy a million shares of it and they'll split the money down the line.
And although I think its the market waiting to see what AUM is going to do I dont know why people arent into the other co's and why the others shares didnt rally on say a 'chance' people might become rich like on the AUM deal..
Dont know if thats happened across this region or not.
Thoughts?
(Hopefully this made sense).
ALFguy
Trading gives me a headache
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lukentel said:
Hi Lukentel,
I'm probably not one to answer your queries, being a newbie and (hang on, I appear to be a 'Junior member' now....woohoo
) not having much experience, but common sense askes....Why would anyone punt a million or so shares on anything without knowing fundamentals and quantative risks!I suspect everyone (that is, those watching the nearby companies) are simply waiting on reactions to the AUM ann - as you say.
I just want this ann to come out so we can all see the market effects.
Question is, with the AGM on Wednesday, does this mean further delay?
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