AUM - Australian Mining Investments
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Author: Jamie Freed Source: The Sydney Morning Herald --- Page: 25 said:
I know he probably doesn't write his own headlines but those two lines just do not add up.and there was nothing else about share sales in the piece to justify the headline. absolute bull**** journalism.
John
Maybe what people should look beyond one aspect of a company.
AUM actually has other mining sites which although are not on the scale of the current find still remain very promising. The Mt Norma mine should be reopening shortly. This is a rich mine supplying the ore for the copper sulphate penta hydrate plant as well as feed stock being supplied from other sites. Last production rate was at five tonnes per day which means they are making money. The deeper ore body has yet to be tapped as the emphasis has been on the copper oxide which is found above the water table. The copper sulphides are found below the water table and are not suitable for copper sulphate production.
I believed also that their technology will benefit not only AUM but also other mining companies to recover the residual metals in their tailing dumps. It can be used as a great environmental tool in cleaning up areas such as the degradation caused by the Mt Lyell mine in Tasmania. The federal government has not come good with the necessary funds although the Tasmanian government has signed a Heads of Agreement.
Additionally, another thing to consider is that AUM has an interest in the Galilee methane gas project at Longreach of which Eastern Corp with 52% is the main operator. I think AUM has about 7% of this. If they can successfully organise a dewatering of the wells and an American expert is currently working on this then this will be another revenue stream.
I am also going to point out that on the same mineral lease as the Rockland group there is an area which has not yet been tested but has a recorded uranium reading from memory of 39%. This was supposed to drilled by now but obviously with current developments it has been probably put on the backburner. It was intended to also drill two other lease sites which had historical working.
It is best to go back and read all the reporta and then you will get a proper picture of the company independent of the media hype. In the past I have spoken to Wayne McRae and have found him vey informative and he always goes out of his way for his shareholders. Annual shareholders meetings in the past have been very poorly attended but I bet won't be in the future. I have found that by attending these meetings over the past few years that my faith in AUM was strenghened.
AUM actually has other mining sites which although are not on the scale of the current find still remain very promising. The Mt Norma mine should be reopening shortly. This is a rich mine supplying the ore for the copper sulphate penta hydrate plant as well as feed stock being supplied from other sites. Last production rate was at five tonnes per day which means they are making money. The deeper ore body has yet to be tapped as the emphasis has been on the copper oxide which is found above the water table. The copper sulphides are found below the water table and are not suitable for copper sulphate production.
I believed also that their technology will benefit not only AUM but also other mining companies to recover the residual metals in their tailing dumps. It can be used as a great environmental tool in cleaning up areas such as the degradation caused by the Mt Lyell mine in Tasmania. The federal government has not come good with the necessary funds although the Tasmanian government has signed a Heads of Agreement.
Additionally, another thing to consider is that AUM has an interest in the Galilee methane gas project at Longreach of which Eastern Corp with 52% is the main operator. I think AUM has about 7% of this. If they can successfully organise a dewatering of the wells and an American expert is currently working on this then this will be another revenue stream.
I am also going to point out that on the same mineral lease as the Rockland group there is an area which has not yet been tested but has a recorded uranium reading from memory of 39%. This was supposed to drilled by now but obviously with current developments it has been probably put on the backburner. It was intended to also drill two other lease sites which had historical working.
It is best to go back and read all the reporta and then you will get a proper picture of the company independent of the media hype. In the past I have spoken to Wayne McRae and have found him vey informative and he always goes out of his way for his shareholders. Annual shareholders meetings in the past have been very poorly attended but I bet won't be in the future. I have found that by attending these meetings over the past few years that my faith in AUM was strenghened.
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petal said:
Faith !
Would you pay $10 for a share ($1bn cap)??
Prospector
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So on that basis you would prefer to buy Telstra ahead of a company like say, Paladin? BDG? AWE? On all of which I have made really nice profits but lost on Telstra2!
Remember this news on 6/7?
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On the trading front, several brokers said they believed the higher spikes in the price yesterday morning were due to a shorting of the stock that had gone terribly wrong for one investor.
They believe someone on Monday shorted 900,000 AMI shares and options, obviously believing the stock's rise would be short-lived.
The price ended at $2.93 on Monday but then closed on Tuesday at $5.25, opening yesterday at $7.15 - by which time the hapless speculator would have been in very deep water, having to get their hands on the stock for settlement today. He or she then would have needed to buy at whatever the price, ending up with a potential seven-figure haircut.
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Wondering what he's doing now...
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On the trading front, several brokers said they believed the higher spikes in the price yesterday morning were due to a shorting of the stock that had gone terribly wrong for one investor.
They believe someone on Monday shorted 900,000 AMI shares and options, obviously believing the stock's rise would be short-lived.
The price ended at $2.93 on Monday but then closed on Tuesday at $5.25, opening yesterday at $7.15 - by which time the hapless speculator would have been in very deep water, having to get their hands on the stock for settlement today. He or she then would have needed to buy at whatever the price, ending up with a potential seven-figure haircut.
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Wondering what he's doing now...
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sangshim said:
Maybe you should check this ASX Short sold list out
Doesn't seem to have AUM mentioned, I'd be wary of the sources!
ALFguy
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Maybe further delays with the Ann: Great!! 
ASX and miner at stand-off
The Age. 14-Jul-06
KEY points of difference have emerged between Australian Mining Investments and an external expert the stock exchange appointed to vet the company's heavily promoted claim that its Rocklands copper discovery is a major find.
The failure to agree on a revised and updated report that satisfies stock exchange reporting requirements for mineral discoveries has been holding up the stock's return to trading.
Chairman Wayne McCrae said he thought the company had satisfied all concerns. But last night a company spokesman said both parties could not agree on several issues.
AUM ”” the company's stock exchange code ”” has not traded since July 5, when it briefly touched $10 a share and had a $1 billion market value. The bull run in the shares started on June 29, the day the company slapped an "inferred mineral resource" estimate of 59 million tonnes grading 2.04 per cent copper equivalent (it gave cobalt and gold credits a copper value) on to its Rocklands find.
Despite the bull run ”” which was led by day traders and had the added spice of allegations the stock had been short-sold ”” there has been interest in the speed with which the estimate was arrived at, as well as the reporting of the resource on a copper-equivalent basis.
The lengthy delay in the return to trade has prompted talk that some traders in the stock on July 5 have refused to settle their trades. As much as $5 million in trades is said to be involved.
ASX and miner at stand-off
The Age. 14-Jul-06
KEY points of difference have emerged between Australian Mining Investments and an external expert the stock exchange appointed to vet the company's heavily promoted claim that its Rocklands copper discovery is a major find.
The failure to agree on a revised and updated report that satisfies stock exchange reporting requirements for mineral discoveries has been holding up the stock's return to trading.
Chairman Wayne McCrae said he thought the company had satisfied all concerns. But last night a company spokesman said both parties could not agree on several issues.
AUM ”” the company's stock exchange code ”” has not traded since July 5, when it briefly touched $10 a share and had a $1 billion market value. The bull run in the shares started on June 29, the day the company slapped an "inferred mineral resource" estimate of 59 million tonnes grading 2.04 per cent copper equivalent (it gave cobalt and gold credits a copper value) on to its Rocklands find.
Despite the bull run ”” which was led by day traders and had the added spice of allegations the stock had been short-sold ”” there has been interest in the speed with which the estimate was arrived at, as well as the reporting of the resource on a copper-equivalent basis.
The lengthy delay in the return to trade has prompted talk that some traders in the stock on July 5 have refused to settle their trades. As much as $5 million in trades is said to be involved.
ALFguy
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hillman said:any chance wayne can get us trading today??
is anyone else really p----d too??? laughable now!!
There's patience....and there's patience....!
It's really not up to Wayne hey - ASX just doing their job for a change.
Sorry, should say it's really down to the external geologists. Now if one of them had shares.....
ALFguy
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There you have it.... Ann next week....more waiting!
But at least some update.
Australian Mining Investments Ltd (now CuDeco Ltd) confirms that it is continuing discussions
with ASX with respect to further drilling results and also clarification of the Company’s June 29
announcement concerning an inferred resource estimate at its Rocklands Group Project.
The Company is presently not able to advise the precise timing of reinstatement to quotation of its
securities, but believes that this is likely to be early next week.
But at least some update.
Australian Mining Investments Ltd (now CuDeco Ltd) confirms that it is continuing discussions
with ASX with respect to further drilling results and also clarification of the Company’s June 29
announcement concerning an inferred resource estimate at its Rocklands Group Project.
The Company is presently not able to advise the precise timing of reinstatement to quotation of its
securities, but believes that this is likely to be early next week.
ALFguy said:
OK, here's my two cents, for what it's worth. Based on the comments and announcements from AMI and the ASX, I believe the announcement will be overall positive in nature. I expect the further drilling results to support claims made thus far and the clarification of June 29 report to be simply greater detail to substantiate the claims made in that announcement.
I think the negative press and the suspension of trading will have a negative effect on the share price in the very short term - in the order of one to a few dollars of share price. Many holders are no doubt very nervous and may be willing to exit at any price. BUT, if the announcement lives up to the promise made by Wayne and Co. then I expect that will have a positive effect on the share price. Just how much, who knows, but talk of $10+ is a little hard to fathom at this stage. This is all very simplified of course, but with the amount of recent speculation, I think we should all try to cut the BS consipiracy theories and historical comparisons (because let's face it, they have absolutely nothing to do with the current situation) and act on the facts presented to us, which will hopefully be a lot clearer after the announcement.
Personally, if I'm correct re: the nature of the announcement and the share price dips, I will be looking to buy in. Won't bet the house on it or anything, but I think this horse still has a ways to run.
This is all just me personal, humble opinion so please don't crucify me but I would certainly like to hear from some other people.
sorry Alfguy,ALFguy said:There's patience....and there's patience....!
It's really not up to Wayne hey - ASX just doing their job for a change.
Sorry, should say it's really down to the external geologists. Now if one of them had shares.....
i really meant could the geeks get us back on board, i.e. trading not Uncle Wayne...but i was hoping he could perform a miracle!!!!!!
ALFguy
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dcart3r said:OK, here's my two cents, for what it's worth. Based on the comments and announcements from AMI and the ASX, I believe the announcement will be overall positive in nature. I expect the further drilling results to support claims made thus far and the clarification of June 29 report to be simply greater detail to substantiate the claims made in that announcement.
I think the negative press and the suspension of trading will have a negative effect on the share price in the very short term - in the order of one to a few dollars of share price. Many holders are no doubt very nervous and may be willing to exit at any price. BUT, if the announcement lives up to the promise made by Wayne and Co. then I expect that will have a positive effect on the share price. Just how much, who knows, but talk of $10+ is a little hard to fathom at this stage. This is all very simplified of course, but with the amount of recent speculation, I think we should all try to cut the BS consipiracy theories and historical comparisons (because let's face it, they have absolutely nothing to do with the current situation) and act on the facts presented to us, which will hopefully be a lot clearer after the announcement.
Personally, if I'm correct re: the nature of the announcement and the share price dips, I will be looking to buy in. Won't bet the house on it or anything, but I think this horse still has a ways to run.
This is all just me personal, humble opinion so please don't crucify me but I would certainly like to hear from some other people.
Ok dcart3r, I think I'm in agreement with most of what you've said, but here's my take on how things are going to pan out.
Firstly, because of the suspension and subsequent media coverage, I suspect most ppl are going to be VERY apprehensive about dipping their toes in.
Those holding are going to have tight stop-losses so any slight movement south on open will probably result in a long hard fall.
That said, any indication this is moving north and ppl are going to want to take that ride and will ultimately push the price way up. Again, any slight deviation from this and we're looking at a heavy fall.
Volatility is the word.
Also, in the previous weeks, I wonder how many ppl thought it was a little too expensive and didn't buy, only to watch it open much higher the following day? This is likely to be on everyones mind so there'll be some scrambling at end of day trading which could push it up dramatically.
All this talk of the companies worth and fundamentals isn't going to have any influence initially. The Ann is going to be ok, nothing special but likely an improvement on the first. Greed and fear are going to be what drives this up and down throughout the first days trading, not what we've been told.
I predict an initial fall but a final push north near end of day.
Going to be one hell of a mental day that's for sure,
All my opinions folks.... Not in any way advice
fit50 said:
At least we'll be able to see what is going on (hopefully) if 9 goes unbiased (hopefully).
After todays hammer on the market any information would be interesting outside of media hype. Maybe a good thing for some they didnt relist so quickly. Whats the new ticker as well...
Maybe we should hire an independent geologist. I'll kick in the first $100 towards his costs. Anyone else in? Just investors protecting their investment....
(forgive my sarcsam)
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