MIN - Mineral Resources

[Miner]

I thought it was just Territory Iron TTY and IRL India Resources who were both propping up Monarch. At the time I recollect that he didn't get any money out of MIN because of the major holding by other Directors.

I know MK sold a big holding in MIN (off market sale) when it seems he needed some money for MON. MIN and MON (sounds like the flower pot men, perhaps that kind of suits MK!)

I would really like to know the full story though if someone knows where to look.

Here U Go mate. For a while could not find this reference and thinking here come the moderators with gloves open : Miner you crucified. Any way now I can have a good sleep tonight without bad dream from Moderators (monsters) .

Junior sues Kiernan over role in failed Monarch

Nov 16, 2008 (The West Australian - ABIX via COMTEX) -- By Rachel Donkin

A law suit has been launched against mining sector identity Michael Kiernan in the Supreme Court of Western Australia by Mineral Resources. It relates to Kiernan prompting the acquisition by the group of stock in Monarch Gold, which later collapsed.

http://www.zibb.com/article/4389438/Junior+sues+Kiernan+over+role+in+failed+Monarch

Publication Date: 17 November 2008

 

[grace]

Hello Miner, it is lonely on this thread! Well MIN don't seem to have had that much of the Keirnan rub off on them.

Many many announcements this month.....iron ore, manganese, 19.9% of Heron Resources. The market likes it all it seems. I must admit to just holding these for about 2.5 years I guess. Approaching all time highs again - just where is all of this buying coming from? Could I take a guess and say someone is taking a substancial position in MIN, or just all of the announcements making the market happy.

 

[Miner]

Hello Miner, it is lonely on this thread! Well MIN don't seem to have had that much of the Keirnan rub off on them.

Many many announcements this month.....iron ore, manganese, 19.9% of Heron Resources. The market likes it all it seems. I must admit to just holding these for about 2.5 years I guess. Approaching all time highs again - just where is all of this buying coming from? Could I take a guess and say someone is taking a substancial position in MIN, or just all of the announcements making the market happy.

HI Grace

Yes MIN is trading it in loney planet but I am happy with it.

They basically acquired two stakes and if you follow the job market advertisement MIN has asked for one GM and few project managers etc. This is a good sign about company's plan to expand. It is very closely held and the share price has bounced gradually from $2.5 to current price.

Personally I rely heavily on the shrewd management style of the Directors and you might have noticed Joe Ricardo has bought / acquired some millions of shares not very long. I could be biased to think that Chris Ellison, Joe Ricardo (also owns GR Engineering Services) and Peter Wade are good enterpreneurs, publicity shy personalities.

So my guess is MIN is up for something big. More acquisitions probably.

I have been holding and just sitting tight unlike many of the others in my portfolio ditched me.

 

[grace]

Bit of an important place on the long-term chart here. Touching on all time highs now. Interesting to see how it goes now. Guessing it depends on the overall market. Has been a nice and steady climb this time and was good buying at $2.00.

 

[ectoplasm]

Hi grace,

MIN came up on a scan & looks to have an interesting chart pattern: Looks like a Cup & Handle from back in 2008. The handle has been forming since beginning of October ~ not enough time IMO, but price action & volume seem to say otherwise.. + 3 price sensitive announcements in last month

Both short & long term chart/s below: The longer I look at the short term chart I think it wants another test of support -- but who knows?

 

[grace]

Hi there. Funny that I had by coincidence a chart to post on one of my market darlings. I recall a broker doing a valn of something like $11-$12 if everything goes right. I don't have a link. It was in a magazine recently.

Closing above about $7.50 looks very important. Sell side is pretty non-existant at the moment.

 

[grace]

bump bump - or is that beep beep!

Hit an all time high today. Glad I held onto this stock - through the good and the bad.

I haven't been following as closely as I should have - so many takeovers etc etc, but the market seems to like it, and the sell side looks all dried up. It is quite an illiquid stock due to mgt ownership, so I should keep more of an eye on it.

 

[grace]

Well, what do you know - I've found out why she made a new high today - it seems MIN are JV partners with Reed Resources on the Mt Marion Lithium find. I used to own some Reed at one point for their gold as I recall. Here is a bit of news today.

"From a long-term perspective, we regard MIN (Mineral Resources) as a business that will continue to expand over the years, irrespective of the shape that the resources cycle takes," Morgan Stanley said.

Mineral Resources and its joint venture partner, former pearl marketing company Atlantic Ltd, last week said they were seeking up to $100 million to revive the stalled Windimurra vanadium project in Western Australia.

Mineral Resources sells manganese from its Woodie Woodie and Peak Hill operations in WA to China's largest steel maker Baosteel.

Mineral Resources made a successful $67 million off-market takeover in January for Polaris Metals NL, beating a bid from rival suitor, Singapore-based Lion-Asia.

Last week, Mineral Resources won the support of Mesa Minerals Ltd's board for a $61.4 million scrip takeover bid.

Morgan Stanley said 2010/11 was shaping as a watershed year for mineral resources.

The miner had as many as four new projects, including Mt Marion, slated to come on stream, at least one crushing contract to be added and additional export capacity from Utah Point at Port Hedland becoming available.

"Beyond these developments, we can already identify a further pipeline of additional contracts and projects building," it said.

Reed Resources Ltd says it had defined a world class lithium resource at its Mt Marion project, a joint venture with Mineral Resources Ltd, near Kalgoorlie in Western Australia.
Reed Resources' shares were up six cents, or 8.51 per cent, at 76.5 cents, while shares in joint venture partner Mineral Resources Ltd rose 22 cents, or 2.83 per cent, to $8.00.

Reed Resources said in a statement on Wednesday that it had increased the estimated resource at the project by 220 per cent to 128,000 tonnes of lithium oxide.

"The joint venturers expect to mobilise a processing plant and related equipment with a production rate of 17,000 tonnes per month of more than 6.5 per cent lithium oxide concentrate in 2010, subject to a decision to mine and obtaining all necessary approvals," Reed Resources said.

Reed Resources managing director Chris Reed said the project had significant potential and offered the company the opportunity to become a major participant in the world lithium market.

Lithium is in high demand due to its use in batteries for hybrid/electric vehicles.

 

[grace]

Sure glad I held onto this one. Breaking up at the moment on nice volume today. MIN seem to have picked up some rock work from twiggy. Biggest contract ever announced to date. Nice one. Chart has been in blue sky for a little while now.

The Mineral Resources Limited (ASX:MIN) subsidiary, Crushing Services International, is in the process of finalising documentation on the largest BOO crushing contract ever awarded in Australia to provide crushing and processing services for the Fortescue Metals Group (FMG) Christmas Creek iron ore project in Western Australia.

 

[Mickel]

Hi Grace. You sure have a winner with this stock. It has breached the $10 mark today with a high of $10.04.

I had Mesa stock and accepted the takeover offer when MIN was around $7.40 and Mesa was at a high of around $0.11, so I've done alright also.

If MIN can commerialise Mesa'a EMD patents then there will be even more profits coming into MIN's coffers.

The $0.20 dividend for the year is another plus.

 

[grace]

Hi Grace. You sure have a winner with this stock. It has breached the $10 mark today with a high of $10.04.

I had Mesa stock and accepted the takeover offer when MIN was around $7.40 and Mesa was at a high of around $0.11, so I've done alright also.

If MIN can commerialise Mesa'a EMD patents then there will be even more profits coming into MIN's coffers.

The $0.20 dividend for the year is another plus.

Yes Mickel, it is up up and away now. Kind of wish I had a few thousand more. Have to be happy with the result though and can't complain. It was a good pick up at $2 on the dip for those who were switched on. I wonder how much more it has in the tank?

I'm not leaving this one just yet. It has been very kind to me. A few brokers are only just running the ruler over MIN so hopefully the buying will continue.

Chart below since listing and the last 12 months.

 

[grace]

I haven't wrote about any fundamentals on this for a while and I'm not going to today. Brain is too sore after finishing my last assignment this morning.

Chart looks fantastic - reaching an all time high again today at $12.50. Unlike BRM, GIR, UMC and others I have seen my investment go haywire, I have stuck to this one like glue. It has been a nice ride for the last 4 years.

 

[Mickel]

Another great half year result for MIN.

Profit up 121% to $60.5M on corresponding half of previous year.

Interim dividend of 15c to be paid 7 April 11 (corresponding half previous year 6.4c)

S/P hit 12 month high of $13.25 on the news. Currently up 25c at $13.12

 

[fanger]

I picked up this stock the other day for $12 but since then the market has been hammer. If only if I had a crystal ball

When did MIN goes ex-div?

 

[VSntchr]

I picked up this stock the other day for $12 but since then the market has been hammer. If only if I had a crystal ball

When did MIN goes ex-div?

its easy to check using the asx, ill let you do the work.

With regard to the share price, I think paying $12 was perhaps a tad optimistic if you are looking from a value approach which I assume you are. But the value of this business is increasing dramatically as they ramp up operations over the coming year(s). Nice announcement today that they delivered the biggest ever manganese shipment to ever leave an aussie port!

 

[fanger]

its easy to check using the asx, ill let you do the work.

With regard to the share price, I think paying $12 was perhaps a tad optimistic if you are looking from a value approach which I assume you are. But the value of this business is increasing dramatically as they ramp up operations over the coming year(s). Nice announcement today that they delivered the biggest ever manganese shipment to ever leave an aussie port!

ex-div was on the 10th, so VSntchr if $12 was optimistic was is your value then?

 

[VSntchr]

Closer to $10. It is rising fast though, so paying $12 is acceptable...but a little optimistic..this is all in my opinion only of course. In the long run I think all holders of MIN will do well.

 

[fanger]

Closer to $10. It is rising fast though, so paying $12 is acceptable...but a little optimistic..this is all in my opinion only of course. In the long run I think all holders of MIN will do well.

Ended up getting out around the in the $12.50 before it rolled over. Bought back in today at $11.20 but its just been put into a trading halt this arvo pending an announcement on tuesday regarding its Carina iron ore project. If its good news I've nailed it but if its bad news I'm going to pay the price.

 

[robusta]

Bright future for MIN IMO, picked up some today @ $9.96, nice dividend yield as well. Bargains everywhere at the moment only problem is picking the best.

 

[McCoy Pauley]

Interesting article about MIN in the Weekend Fin Review last weekend talking about how MIN is already planning to exit its iron ore producing activities in the next three-five years (when they predict the spot price of iron ore to decline precipitously). The long-term strategy of MIN is to end up with the infrastructure in place to help support its core mining services.

Gina Rinehardt through Hancock Prospecting has emerged as a substantial shareholder in MIN in the last week or so, as well.

Kudos on picking up some MIN below $10/share, robusta. Should be a good investment. Wish I had the cash on hand to do the same.