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AUM - Australian Mining Investments

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utedog said:
IAP down to $3.50 @ 9.46am
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Thanks utedog, do appreciate the info!
Not looking brilliant eh.....but then, this was going to scare a few early on.
 
Buyers pouring in now.... certainly a lot of interest.
 
It is dropping like a cheap hookers draws. :eek:

Anyone here trying to sell? :confused:
 
Anything below 5 is a good buy imo, looks like it's floating around that mark.
 
Forgive my ignorance, but why are you guys buying??

Based on any Fundamentals or charts or what facts?

What do you expect the price to do in the next day, week and year?
 
It's doing better than I thought.

I thought sp may fall down to 1~2 doll range. but it opened at 4.05 and staying at 4.80 for 50 mins.
 
$5 is a big price to pay for speculation. I think this stock will very likely trade below $2 at least at some point before years end. I however continue to hold about 9,000 shares (bought in Feb) and will do so indefinitely I think though as I said previously I sold 90% of my shares at $3 Monday before trading halt.
 
not sure about AUM, but on a brighter note,
have a look at IPM !! Incremental petroleum owns the currently producing selmo oil fields in turkey which have just release their reserves report!
this one has "PROVED plus PROBABLE" reserves of 12.04 MMstb.
massive result! this could reach 2.50, as fund managers now must buy in.
 
Can someone please post some details of the announcement? Once again, I'm unable to download pdfs from ASX.
 
From the Age

Shares in Australian Mining Investments (AMI) plunged as much as 43 per cent this morning after the mining explorer cut its estimated ore base in its Queensland Rocklands copper project by more than half.

Shares were trading recently at $4.52 after resuming from a seven-day hiatus, down $2.59, or 36 per cent. Trading was halted after AMI was asked to disclose more details of its data used to calculate the size of its deposit.

Trading was suspended after the ASX launched an investigation to the price spike that saw the share price top $10 on July 5, before closing that day at $7.11 prior to the trading halt.

In a statement to the stock exchange, the company said its so-called inferred resource amounted to 25 million tonnes, down from an earlier estimate of 59 million tonnes.

AMI, which is in the process of changing its name to Cudeco, also said today that it will begin a diamond-core drill program below the already tested depth of 500 metres at the deposit within the next six weeks. The company said its drilling program continued during the trading halt of its stock.

Trading volume exceeded more than 3.6 million shares, or about 15 times the daily average over the past year.

theage.com.au
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The Ann is pretty detailed but basically it's now an Inferred Resource of about 25mt with a target still of 59mt.

Highlights:

• Drill hole DORC-87 intersected 40m of high-grade copper mineralisation at 5.05% Cu from 44 to 84m, including 26m at 6.59% Cu from 48-74m.
• Drill hole DORC-93 intersected 81m of continuous copper-cobalt mineralisation at 1.38% Cu from 121-202m, including 28m at 3.36% Cu from 147-175m.
• Drill hole DORC-95 intersected 93m continuous copper-cobalt mineralisation at 1.39% Cu from 26-119m, including 20m at 2.2% Cu from 26-46m and 37m at 1.82% Cu from 50-87m.
• Drill hole DORC-96 intersected 101m of continuous copper-cobalt mineralisation at at 1.19% Cu from 85-186m, including 18m at 2.58% Cu from 85-103m and 8m at 4.95% Cu from 152-160m.
• DORC-106 drilled intersected 155m of visible continuous mineralisation from 65-220m.
• Mineralisation appears to widen with depth.
• Holes being drilled to down-hole depths greater than 200m are intersecting mineralised zones between 80m and 120m wide.
• Awaiting assay results for holes DORC-97 to DORC-106. All intersected 60-100m wide zones of visible sulphide mineralisation.
Note: Typically the true width is between 50-60% of the down hole intersection.
 
Down to 3.33 but could easily drop some more.

That said, I do think near end of day, this will spring up a little.
The initial 'freak out' is slowing down even with this big drop.
I expect buyers to come in late on to see a jump up when trading begins tomorrow.
Just my :2twocents
 
$2.60 now

I said it would trade below $2 before years end (was almost going to say before months end) but it looks like it will trade below $2 before days end now.
 
It looks as if the ASX were bombarded by information from AUM and may have rushed a decision to allow trading. Looking at the recent information there have to be doubts about what to believe. It is always upsetting if a share remains in suspension for months, this stock may have been one that should have been.
 
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