AUM - Australian Mining Investments
- Thread starter ALFguy
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just read it.
No news, except for the confirmation of 10 million options at 50c are not going through at that price and will be revalued at a more appropriate price next month. good for shareholders
i use westpac broking. news and prices are real time.
cheers
No news, except for the confirmation of 10 million options at 50c are not going through at that price and will be revalued at a more appropriate price next month. good for shareholders
i use westpac broking. news and prices are real time.
cheers
Prospector
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greggy said:
I have noticed the Directors of AUM don't wear expensive imported suits.
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The irony is that AUM informed the market as to the potential size of this find via an independant geologists report back in December last year (05). That report estimated potential for 49 million tonnes ore at 1.6% Cu.
The ASX queried it back then and they responded. The share price rose, the ASX queried, they responded. They've been releasing information as they go for the past 6 months as to the progress of their drilling etc.
If I was a shareholder I'd be happy for them to receive their options - they've created a lot of value for the shareholders that followed them and bought on the earlier announcements.
There's plenty of executives that have gotten paid massive bonuses while the share price of the company they are running has dropped like a stone.
So why shouldn't the people running one thats had a share price rise be able to participate in the result.
The ASX queried it back then and they responded. The share price rose, the ASX queried, they responded. They've been releasing information as they go for the past 6 months as to the progress of their drilling etc.
If I was a shareholder I'd be happy for them to receive their options - they've created a lot of value for the shareholders that followed them and bought on the earlier announcements.
There's plenty of executives that have gotten paid massive bonuses while the share price of the company they are running has dropped like a stone.
So why shouldn't the people running one thats had a share price rise be able to participate in the result.
Prospector
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I agree with you cuttlefish but I guess this is about transparency. How can the shareholders vote when the stock is under suspension - while most might vote in favour, realistically they are doing so 'blind' - ie not fully informed, according to ASX.
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greggy said:
Quite, it also means he isn't part of any exclusive club too!
ALFguy
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greggy said:
Do you think there will be any news released following the meeting? Surely someone will talk to the press or at least there'll be a few rumours bouncing around.
I can just see the ann coming out during the meeting and hundreds of holders dashing off to ride the news!
I agree. Surely some shareholders will ask a few questions at the meeting.ALFguy said:Do you think there will be any news released following the meeting? Surely someone will talk to the press or at least there'll be a few rumours bouncing around.
I can just see the ann coming out during the meeting and hundreds of holders dashing off to ride the news!
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hillman said:
Pink champers for me.....please
new girl said:
likely there will be a new code. a date will be set for when AUM changes to 'XXX' and on the morning of that day, the order book in SEATS will be updated. broker's systems should also automatically convert the security code in all open orders.
if the drilling announcement is released over the next few days, then i daresay we will all be trading AUM for a while until the code change (if any) is effected.
Released at 16:56:55 today...
Mr McCrae has advised that he disposed on market 8,000 options in the AUMOA class on Wednesday, 5
July 2006. Mr McCrae subsequently exercised 278,460 options in the AUMO class at 20 cents each for
total subscription monies of $55,692 and the Company has therefore allotted 278,460 shares to him. The
attached Appendix 3Y reflects these changes. Mr McCrae advises that he has chosen to reinvest the
proceeds from sale of the AUMOA options into ordinary shares of the Company.
note the bold line. this is a positive sign, albeit not an overly strong one.
Mr McCrae has advised that he disposed on market 8,000 options in the AUMOA class on Wednesday, 5
July 2006. Mr McCrae subsequently exercised 278,460 options in the AUMO class at 20 cents each for
total subscription monies of $55,692 and the Company has therefore allotted 278,460 shares to him. The
attached Appendix 3Y reflects these changes. Mr McCrae advises that he has chosen to reinvest the
proceeds from sale of the AUMOA options into ordinary shares of the Company.
note the bold line. this is a positive sign, albeit not an overly strong one.
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Does anybody who actually owns this stock have a valuation in mind?
Assuming Wayne actually has 100mt at 2.0% Cu - anyone keen to put a value on the company.
Personally, I would say around $1.00 ~$100mAUD
For starters, they will need about $30m for feasibility and $600m to develop it.
No cashflow until at least 2014.
Assuming Wayne actually has 100mt at 2.0% Cu - anyone keen to put a value on the company.
Personally, I would say around $1.00 ~$100mAUD
For starters, they will need about $30m for feasibility and $600m to develop it.
No cashflow until at least 2014.
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BSD - I had a stab at valuing it, even though I'm out of my depth with mining companies. But I'm not that keen to discuss valuations in the forum.
I did use some of the companies you put up as a comparison (though I went and validated the info you provided first hand), and did factor in development costs (used $500 mill) and associated capital raisings required (e.g. 100m shares) etc. I thought grade was an important factor because it influences cost per pound quite a bit I think (?). I thought ABY wasn't a bad comparison to get an idea of what it might be worth once in production because they also have fairly high grade resource (and are also Australian based). The difficult part is the difference between an in-production valuation vs an undeveloped valuation.
I did use some of the companies you put up as a comparison (though I went and validated the info you provided first hand), and did factor in development costs (used $500 mill) and associated capital raisings required (e.g. 100m shares) etc. I thought grade was an important factor because it influences cost per pound quite a bit I think (?). I thought ABY wasn't a bad comparison to get an idea of what it might be worth once in production because they also have fairly high grade resource (and are also Australian based). The difficult part is the difference between an in-production valuation vs an undeveloped valuation.
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