IRL - India Resources

[Miner]

Hi IRL followers

I think this scrip is less loved by ASF participants.

Any way today's announcement is fantastic quantum leap.

63.25 % Fe on a haemetite (not magnetite) ore as an average !!!

I should be climbing up in my ladder for a change in tipping now.

I do hold IRL and bought a small parcel at 1.7 cents today (hope it should go north and not south as happens with my all purchases) so DYOR

 

[Miner]

Hmm
My previous purchase of a small parcel at 1.7 cents appeared to have been a disappointment considering in the past I bought this at 40 cents (not joking) and sold at 32 cents (to cut losses) and reentered at 1.2 to 1.7 cents.

Any way I found the following in Proactive Investor which is pretty interesting with copper price in an uptrend, IRL acquired a iron ore resources, India's booming infrastructure market (increased requirement of electrical cables and hence copper, coal (Bankura from IRL), Iron Ore (growing steel demand) I am very comfortable to hold my portfolio on IRL irrespective of market volatility.

http://www.proactiveinvestors.com.a...duction-record-at-surda-copper-mine-9110.html

http://www.proactiveinvestors.com.au/companies/sponsors_landing/749/india-resources-0749.html

In the medium to long term, IRL is aiming to double production at Surda. The company is initially targeting production of 450,000 tonnes of ore per annum, to deliver 4,500 tonnes of copper concentrate.
Longer term, and with further development, the company’s ultimate production target is 900,000 tonnes (9,000 tonnes of copper in concentrate).

 

[Miner]

Just to update on IRL for those who may be interested.


The company has paid off a large loan.
Alexandaria is a party to share
The substantial options to expire because the price woudl be uneconomical means more motivation of the directors to get the performance up.
Copper is hot and check the Annual report released today
Some people in the market definitely chasing IRL as seen in the volume .
Of course today was very unique as generally market went up with DJ support.

But as I have been posting here - IRL is technically a strong scrip. The price hopefully I am guessing has bottomed (how far it can go down ) as IRL is not an explorer alone but also a producer.

Code Last % Chg Bid Offer Open High Low Vol
IRL 0.020 17.65% 0.020 0.021 0.019 0.021 0.019 9,480,038

24 Sep 2010 0.017 6.25% 0.017 0.016 899,484
23 Sep 2010 0.016 14.29% 0.017 0.015 3,402,000 22 Sep 2010 0.014 0% 0.015 0.014 750,000
20 Sep 2010 0.014 0% 0.014 0.014 840,000
17 Sep 2010 0.014 0% 0.014 0.014 400,000

disclaimer : I do hold IRL and added up my portfolio between 1.2 to 1.7 (July 10) cents in last 6 months .

DYOR as I am biased on IRL.

 

[Miner]

IRL Secrets are out in the market.

That explains the heavy buying stuff.

I am however confused if private placement was made at 1.5 cents who were buying between 2 to 2.3 cents for such a high value for last three days ?

I am still holding and considering there were people who bought at the high price and sophisticated investors shown interest, suggest the values are there.

I am planning to hold and add more if the price now deepens.

On the hindsight if I knew could have unloaded yesterday and bought today.
But who has turned the clock back

 

[Miner]

Notwithstanding I am a holder and would like to see IRL prosper (and my shares prosper I am intrigued to see the volume of transaction so erratically of late and how come ASX is not sending them a PLEASE EXPLAIN note.

Look at the volume of transation and movement. 16.67 % volatility or 32% spread !
Two days 11 m shares got hand changed for a scrip which normally transactts between few thousands even it is a cheapy. Sorry I am bit nervous now. TWO of the directors boughtsome modest amouunt. see attached. I am yet to learn who were the sophisticated investors who were fortunate to buy shares at 1.5 cents and with free option.
Am i getting ripped off as a loyal share holder . Hope Not.

Code Last % Chg Bid Offer Open High Low Vol
IRL 0.018 -14.29% 0.018 0.019 0.021 0.021 0.017 5,432,000


05 Oct 2010 0.021 16.67% 0.021 0.018 5,450,000
04 Oct 2010 0.018 5.88% 0.018 0.018 250,000
01 Oct 2010 0.017 0% 0.017 0.017 687,553
30 Sep 2010 0.017 -10.53% 0.019 0.017 2,606,326
29 Sep 2010 0.019 -17.39% 0.022 0.019 3,537,352

 

[Miner]

the heavy volume explains partly : Partial conversion of convetible notes by Alexandara Resources.

Question when the company is selling its shares at a discount why did Alexandara chose to convert its shares ?

Is the company increasing the finance by having cheap equity

Looks like I am a solo sailor here and hopefully will have last laugh (or cry?)

 

[Miner]

Slow and steady IRL with production report

What is heartening the recovery gone up meaning more copper (if not gold coins) to share holder fund.

 

[Miner]

Another good news from IRL today - record copper production from its Surda factory in India. It looks like an ugly duckling really showing to become a swan very soon.
It also got some technical consultancy work as reported in ASX to have operating cash flow.
I have been holding it for long time though net balance in read but hoping to become green in near future

 

[Miner]

OMG It was me who last wrote on IRL some two and half years ago. No wonder this stock is so slow and sluggish because market is not liking it once Michael K has left the company .
Any way, of late the directors are buying shares of IRL substantially. My hunch is it could be the Aravali court case being settled out of the court or something behind the scene. Why directors are buying so many considering it is a slow moving and often untraded stock.
I do HOLD and DYOR

 

[stormboy]

Hearing positive things about this stock, looking to invest, still in the game Miner or anyone else?

 

[Miner]

Hearing positive things about this stock, looking to invest, still in the game Miner or anyone else?

Dear Stormboy

I do not know what positive things you are hearing about this stock nor do I have any such stories.
My observations on this scrip are based on the quarterly report, production records in Sarda and understanding of resource industries in few countries (technical side) and that includes India. IRL has a court case pending but they also have won a long litigation from Hindustan Copper. Unfortunately the share price has not reflected the win against Hind Copper. The manufacturing base is sound as well their safety record. You would have noticed the directors have made a heavy purchase around mid January and surely they know something. I have been holding it for long time but unloaded part of it when the price shot up .8 or .9 cent (?) after travelling between 3 to 4 cents. The volume of trading goes up exponentially one day and then no trading. The MD of the company has been constantly buying but he did it for long time probably to have good controlling interest. Other than copper, their coal and diamond interests were hyped with no tangible result so far. IRL has created many subsidiaries and I did not like they appointed an Indian cricketer Ravi Shastri in a significant role issuing lots of options with no tangible results shown to shareholders so far.

The company has failed to market its manufacturing strength into Australian market.
So from investment purpose I do not qualify to advise to you or any one. Sorry, could not help more. Besides, under ASIC rules, no advise can be made in forums like ASF either.
So bottom line is DYOR. I still have some holding on IRL with a hope one day I will retire with lots of papers marked IRL to sell by weight of used papers

 

[Miner]

Re: Options (as issued recently in IRL)

I did search today to see the posting on IRL and found this one. Last activity in 2007. Why not Joe closes this thread?
7 years inactivity plus those options are no good. I have them and they are just rotten eggs like this thread.
My

 

[Miner]

Gees
Looks like I was the main contributor to this thread (the most stupid one per se) !!
It is under trading halt for a long time and having the BIG problem.
What is intriguing that Chairman resigned? The Geologist Andrew Kohler has left in July after given 60% pay rise when the share price has been slogging and sluggish.
The MD is the most crafty person here with a contract indefinite, $400,000 salary, 44 million shares, termination by the company can be done only by 6 months notice and he could quit with 3 months notice. Why should a sick company can have such an open ended contract ? Does not ASIC look into this ? Very fishy to me as my shareholding also got stuck in the bottom drawer forever.
Any one was following this ?