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MIN - Mineral Resources

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grace

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Don't see this anywhere here, which I am kind of surprised about. Got a write up in last weeks Bulletin as stock tip for this year......
"This group provides ore crushing and mineral processing services in the resources industry. Services are offered with long-term contracts, providing low-risk revenue streams. Its recent contract success with Precious Metals australia will expand the company's crushing operations by up to 50% over the coming two years".

A nice steady graph, gently and nicely (will try and post chart in a minute!).
PE 26
PEG 0.84
Div 2%

Michael Kiernan is a Director.

Anyone else on this?
 
Here is the chart..................................................................................
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Have been following it Grace, but the low liquidity worries me a tad.
No doubt I will hop in when I feel the time is right, but the general market itself needs to settle in an upward direction first :D
 
MIN is low liquidity because more than 85% are held by few people - the promoters like Chris, Steve etc.
It is a solid company and they do not go to customers - customers come to them. Where others failed MIN (previously PIHA, CSI) returned rewards.
They are favoured by ironic oppositions Rio and FMG in awarding contracts.
I have bought and sold MIN couple of times. It is a growth share.

Regards
 
Profit result out for MIN today and all good (growth according to forecasts).

For 6 months
NPAT $20 mill up 56%
(full year forecast is $40million - business is not seasonal!)

EPS 16.5c
Fully franked div of 6c

Good to see no nasty surprises. Growth should continue based on new contracts awarded in recent times!

I continue to hold as they seem to be in the right business at the right time!

Perhaps MS could give a nicer looking post on this though!
 
Well well, MIN got a speeding ticket, with a reply of don't know why...

Perhaps I can shed some light...Michael Kiernan - Chairman has stepped down. After his efforts of transporting money from both TTY and IRL to prop up old MON (through loans or share purchases), I am pleased he has moved on from my little favourite mining services company. I think the market also agrees with me.... MD has stepped up to the role.

Should be no threat here now for MIN, thank goodness.
 
grace said:
Well well, MIN got a speeding ticket, with a reply of don't know why...

Perhaps I can shed some light...Michael Kiernan - Chairman has stepped down. After his efforts of transporting money from both TTY and IRL to prop up old MON (through loans or share purchases), I am pleased he has moved on from my little favourite mining services company. I think the market also agrees with me.... MD has stepped up to the role.

Should be no threat here now for MIN, thank goodness.
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Good piece of info grace. MK is a bad apple probably similar to Eddie of ABS. That also explains why IRL has gone down further more. Chris E is a director and promoter of MIN has made substantial investment in IRL (just like Andrew Forrest did). Chris used to be one of the top 20 share holders. If what you said is correct then probably Chris will be unloading his shares from IRL as well. The current MD of MIN is an excellent person and very capable. Good luck to all MIN share holders.
 
Profit guidance out today of $47 mill for 07/08. Forecast of $40mill+. All looks nicely on track for my favourite mining services company. It has been nice to me for several years now.

Also, new contract with Hancock group on new manganese mine.

Mineral Resources Limited (ASX: MIN) wishes to provide guidance to the market and announce that it’s profit after tax for the year ended 30 June, 2008 will be a nominal $47 million subject to final audit confirmation.

The after tax forecast of a nominal $47 million is significantly in excess of the 2007 full year profit of $20.2million and the previous guidance supplied to the market at the 2008 Interim Results reporting period in February, 2008 of +$40m profit after tax. It also equates to an increase of more than 135% on the previous year results.
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The Agreement provides for Mineral Resources to mine, process, transport and ship manganese ore from the Hancock Balfour Downs manganese deposits after all necessary approvals have been obtained. The Balfour Downs tenement has an extremely high prospectivity for high grade ferruginous-manganese product and exploration results indicate a non JORC ore reserve in excess of 15 million tonnes.
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“The award of this contract recognizes the ability of our company to work closely and collaboratively with respected clients to add value to their operations. We are pleased that the Hancock Prospecting Group has selected MRL as a contractor of choice for this manganese operation and welcome the collaborative arrangement that utilises the unique abilities of each of our companies”.

This agreement is a significant highlight for the contracting and processing operations of Mineral Resources and provides a substantial, long term operation that adds value for all of the company’s stakeholders.
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grace said:
Nice profit announcement out today - only up 135%. Seem to be doing a good job. Pity I didn't pick up a few more of these some years back.

http://aspect.comsec.com.au/asxdata/20080821/pdf/00871541.pdf
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Hi Grace

Well said

MIN floated I believe in 2007 so how could you buy it few years back ? :)

But IMO it is a great investment and more stable than many producers as well as Fly by Night explorers. Backed by Solid and competent board and reinforced by Jo Ricardo - part owner of GR Engineering Services and previous partner of JR Engineering Services.

MIN is having a very strong alliance with Rio Tinto and Chris Ellison proudly says that we do not go to people to sell they come to us and we deliver.

There are not many smart people who can boast on such things

Disclaimer : I hold a very small parcel of MIN for long term
 
Miner said:
Hi Grace

Well said

MIN floated I believe in 2007 so how could you buy it few years back ? :)

But IMO it is a great investment and more stable than many producers as well as Fly by Night explorers. Backed by Solid and competent board and reinforced by Jo Ricardo - part owner of GR Engineering Services and previous partner of JR Engineering Services.

MIN is having a very strong alliance with Rio Tinto and Chris Ellison proudly says that we do not go to people to sell they come to us and we deliver.

There are not many smart people who can boast on such things

Disclaimer : I hold a very small parcel of MIN for long term
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Miner, you might have caught me out there. I did buy end of 06 though, so just after float (didn't even realise they had just floated at the time, as I was new to the daily share market news then!). Certainly was a lucky investment for a beginner though.

Here's a chart since floating.
 

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grace said:
Miner, you might have caught me out there. I did buy end of 06 though, so just after float (didn't even realise they had just floated at the time, as I was new to the daily share market news then!). Certainly was a lucky investment for a beginner though.
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No wonder it's your favourite Grace, what a good pick! While everything else is in the Bear doldrums this one kept climbing.min_ax07mar08_to_16sep08.png & it's paying out too.:star:
 
grace said:
Miner, you might have caught me out there. I did buy end of 06 though, so just after float (didn't even realise they had just floated at the time, as I was new to the daily share market news then!). Certainly was a lucky investment for a beginner though.

Here's a chart since floating.
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Hi Grace, not bad at all this one!

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 38.3 49.3 58.5 67.6
DPS 19.4 25.0 29.9 33.3

Business Description
Mineral Resources (MIN) is an Australian based mining service and processing company with operations in contract crushing, general mine services infrastructure provision and recovery of base metal concentrate for export sales. The Companys operations are supplemented by rehabilitation and sale of heavy duty crushing and processing equipment, hire of engineering and crushing fleet plant and workshop manufacture of polyethylene pipe fittings and components.

Company Strategy
MIN expects continued growth in production and export within the resources sector to facilitate contracting, crushing and processing opportunities. The demand for steel related commodities continues with iron ore and manganese volumes and prices both firming. MIN has a strong, proprietary interest in the performance of these two minerals through its mineral processing operation and contracting arms. Operationally, MIN will focus on niche contracting markets of crushing and screening, mineral processing, pipelines and mine infrastructure. Mineral Resources reported NPAT of $20.17m for the year ended 30 June 2007. Revenues from ordinary activities were $148.85m. Diluted EPS was 16.9 cents. Net operating cash flow was $30.1m. The final dividend declared was 6.3 cents, taking the full year dividend to 9.5 cents. The company was admitted to the official list of ASX on 28 July 2006. The increased performance reflects the strong mining services and minerals market and a continuation of several new projects ahead of its prospectus forecasts. The outlook continues to be positive with the resources markets in iron and base metals expected to continue strongly as a result of demand from China and the other developing Asian and sub continent economies.
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MIN.jpg


thx

MS
 

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Out Too Soon said:
No wonder it's your favourite Grace, what a good pick! While everything else is in the Bear doldrums this one kept climbing.View attachment 23802 & it's paying out too.:star:
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WOW! How wrong can you (me actually:eek:) be, I'm very lucky I put a much hated stop loss under this one & got out at a small loss. Looks like it was magically staying in the stratosphere while every thing else was falling only to burst hugely once the dividend was paid.min_ax15may08_to_22nov08.png & burst it has. Was there some bad news? or was it just a delayed reaction to the rest of the market? I must admit to not following it once I got out.:eek: sorry!
 
MIN invested a fraction over a 1million dollars in a GDR (Goldstar Resources NL) share placement around the middle of 2008, taking a 5% stake in the company. I'm guessing this was a strategic move as to aid in receiving a crushing and service installation contract etc or perhaps a JV, unfortunately GDR went into administration on the 8th Jan 2009.

Not a huge dent in things I know but is it strange that MIN has yet to send out a company announcement regarding this? I cant find anything to suggest a change in MIN's substantial holding in GRD so to me MIN still hold a 5% stake.

Disclosure; I don't hold shares in either company, just follow MIN.
 
joelc said:
MIN invested a fraction over a 1million dollars in a GDR (Goldstar Resources NL) share placement around the middle of 2008, taking a 5% stake in the company. I'm guessing this was a strategic move as to aid in receiving a crushing and service installation contract etc or perhaps a JV, unfortunately GDR went into administration on the 8th Jan 2009.

Not a huge dent in things I know but is it strange that MIN has yet to send out a company announcement regarding this? I cant find anything to suggest a change in MIN's substantial holding in GRD so to me MIN still hold a 5% stake.

Disclosure; I don't hold shares in either company, just follow MIN.
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I think they invested in Michael K's gold company and POS as well.
Aparently MIN sued Michael K for the loss and still fighting a case.

Are they putting some extra cash in high risk investments and end of the day the shareholders as usual paying for them
 
Miner said:
I think they invested in Michael K's gold company and POS as well.
Aparently MIN sued Michael K for the loss and still fighting a case.

Are they putting some extra cash in high risk investments and end of the day the shareholders as usual paying for them
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Miner, where do you find this information. I remember a discussion on this thread about how they didn't have exposure to Monarch. Can you show me where to look. Thanks
 
grace said:
Miner, where do you find this information. I remember a discussion on this thread about how they didn't have exposure to Monarch. Can you show me where to look. Thanks
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Grace

I am taking your query on notice.

From memory I remember having read that MK was director for MIN and MON. Now apparently he persuaded MIN to invest on MON. Then allegely MIN lost lot of money from this deal and they sued MK for fiddiciary negligence etc.

I hope my memory is not failing and this could have settled off the court too.

But nevertheless, there must be other ASF members who could throw some light here in case my recollection is incorrect.

Regards

Disclaimer : I do not hold MON
 
Miner said:
Grace


From memory I remember having read that MK was director for MIN and MON. Now apparently he persuaded MIN to invest on MON. Then allegely MIN lost lot of money from this deal and they sued MK for fiddiciary negligence etc.

I hope my memory is not failing and this could have settled off the court too.

But nevertheless, there must be other ASF members who could throw some light here in case my recollection is incorrect.

Regards

Disclaimer : I do not hold MON
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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.:)
 
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