MIS - Midwest Corporation

[GreatPig]

Picked up some of this just under two weeks ago for 38.5 cents. A few days ago it went into a trading halt, coming out late on Friday for a pleasant surprise: it jumped from 44 cents up to 55 cents.

Being a purely technical trader, I didn't even know what they did until I looked up the announcement to see what the good news was.

Will be looking closely for the next few days to see if it's over-shot and about to quickly drop again, or on the start of a very profitable climb. It has a history of wide ranging moves, so let's hope it's into another

Cheers,
GP

 

[bigdog]

SP is looking good again

Up from .52 on October 2 to .66 today

RMB International Dublin have been buying shares in October and now hold 8.3%

Sydney - Tuesday - Sep 26: (RWE Australian Business News) - Midwest Corporation Ltd (ASX code: MIS) has identified additional high-grade massive-style iron mineralisation in the Beebyn area of its Weld Range Iron Ore Project, which forms part of a joint venture with Sinosteel Corporation.

Midwest has completed 63 reverse circulation (RC) drillholes for 7990 metres to date at Weld Range.
Drilling commenced on the Beebyn area and has progressed westward through the project leases.

Results from the initial exploration drilling at Beebyn returned to date are "highly encouraging" and confirm the existence of extensive hematite and hematite goethite zones with high-grade iron assays at
significant depths below surface outcropping hematite.

High-grade massive-style iron mineralisation in the Beebyn area intersected to date includes 53m at 65.2% iron from 90m, 53m at 66.9% iron from 112m, 64m at 62.9% iron from 58m, 70m at 63.0% iron from 70m,
62m at 62.3% iron from 60m and 64m at 64.5% iron from 104m.

The results are based on a cut-off grade of 57% iron and represent down-hole lengths.

 

[bigdog]

SP up two cents to 66 cents today

MIS issued to ASX today Austock Conference Presentation

Half Yearly Results looks great reading
Page 3
Dedicated iron ore coy with strong Chinese support for development in context of strong 20+% pa gowth in Chinese demand

Clear growth strategy for future ;arge scale DSO and/pr magnetite projects

Successfully bedded down 1 mtpa DSO starter project - 520,100 wmt shipped as at 30 Sept 2006

Company is profitable and on tack to achieve 50% operating margin

50:50 JV with Sinosteel has established project studies team for development of Weld Range hematite & koolanooka magnetite

Weld Range major project with target 300 - 400 mt for developmetn in late 2010 - drilling on schedule (7.990 m drilled to 13/10/06) with assay conifriming Fe 60+%

Page 5
Revenue $13.17 mil
Gross Profit $5.18 mil
PBT $3.10
Cash 11.59 mil after investment in infrastruture for start up operations
Cash from operations approx $1.5 mil per month

 

[bigdog]

ASX ANN today reports cash on hand totaling $13.567 million Sept 30, 2006

The of the few companies with plenty of cash

http://www.asx.com.au/asxpdf/20061031/pdf/3zbn6q46m2gw2.pdf

 

[bigdog]

First Rand (Irelant) formerly RMB International Dublin are buying more shares and now own 9%

http://www.asx.com.au/asxpdf/20061106/pdf/3zfkxr8my8fhq.pdf

 

[bigdog]

MIS up 4 to 75 cents this morning in first 10 minutes

Now up 20 cents in last month

First Rand (Irelant) formerly RMB International Dublin are buying more shares and now own 9%

http://www.asx.com.au/asxpdf/200611...fkxr8my8fhq.pdf

 

[bigdog]

SP up 7.5 cents to close at 82 today
-- was 52 on Oct 2
-- First Rand (Ireland) have been buying up
-- Chinese Steel connection also
-- ASX ANN today Interm Drill Results Koolanooka/Blue Hills DSO Project
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00675531

-- Also news article below

I hold at 43 cents

Midwest confirms additional iron ore mineralisation
11:22, Wednesday, 6 December 2006

Sydney - Wednesday - Dec 6: (RWE Australian Business News) -
Midwest Corporation Ltd (ASX code: MIS) has identified additional iron ore mineralisation at Koolanooka and Blue Hills in WA as part of an exploration program to delineate sufficient additional iron ore reserves to support an expansion of its existing Stage 1 DSO Project from 1 million tonnes per annum (mtpa) to 2mtpa.

High-grade, massive-style iron ore mineralisation was intersected in down-plunge extensions at the folded Mungada East deposit, forming part of the Blue Hills project area.

Shallow drilling over a four-hectare area adjacent to the historical Koolanooka open pit confirmed extensions to the detrital iron ore mineralisation at this project.

The detritals are expected to provide low-phosphorus iron ore for blending purposes.

Further programs of reverse circulation drilling at Blue Hills and the Koolanooka detritals have been scheduled during the current quarter and the first quarter of 2007 because the current work has not closed off the resources.

"Results from the exploration and resource drilling returned to date are highly encouraging, and confirm the existence of extensive hematite and hematite goethite zones with high-grade iron assays down-plunge of complexly folded outcropping hematite at Mungada East (Blue Hills)," directors said.

 

[bigdog]

SP up 8 cents to 88 today and ASX ANN has just been issued
-- will market like the ANN?
-- was 52 cents on Oct 2
-- First Rand (Ireland) have been buying up
-- Chinese Steel connection also


http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00677394

December 12, 2006
Substantial Chinese infrastructure group to support Midwest/Sinosteel J.V
Midwest Corporation Limited (ASX:MIS) and its Weld Range-Koolanooka Iron Ore Project joint venture partner, Sinosteel Corporation have signed a non-binding Memorandum of Understanding (MOU) with China Railway Engineering Corporation (China Rail) and China Communications Construction Group (Ltd) (China Communications).

This MOU involves a joint tender to fund, construct and operate the proposed Oakajee Port and the rail linkage to Weld Range and Jack Hills iron ore projects.

China Rail and China Communications (formed from a merger of two companies previously known as China Harbour and China Road & Bridge) are massive Chinese Government owned enterprises with joint assets exceeding US$60 billion.

Both are major developers of logistics infrastructure in China and abroad and have established links to China Development Bank.

The consortium provides additional substance and financial credibility to the ongoing development of the mid west iron ore industry in Western Australia.
Midwest Corporation and Murchison Metals are working together, in consultation with the State Government, to develop the best process for ensuring the timely construction of Oakajee Port and the railway to Weld Range and Jack Hills, both of which are essential for the ongoing development of their iron ore resources.

Commenting on the MOU, Bryan Oliver, chief executive officer of Midwest Corporation said, “This is a significant agreement involving substantial Chinese companies keen to increase their exposure to the Australian iron ore industry and to support Sinosteel’s joint venture aspirations for the development of projects with Midwest Corporation.”

 

[bigdog]

SP up to 98 cents today an increase of 8.5 cents and rising


Go boy go and I should have tipped in ASF monthly tipping comp!


The chinese like this stock
-- the market likedthe ANN Dec 12
-- was 52 cents on Oct 2
-- First Rand (Ireland) have been buying up
-- Chinese Steel connection also


http://www.asx.com.au/asx/statistic...?idsID=00677394

 

[bigdog]

SP up 20 cents or 20% today

MIS SP $1.16 +$0.20 +20.83% 2,496,362 shares $2,704,325 31-Jan 16:10:45

ASX today MIS 4:50 PM Fourth Quarter Activities & Cashflow Report look VG
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00689401

Things are happening at MIS:
• $12.7 million in the bank
• Receipts from product sales and related debtors for qtr $9,970 and YTD $29,985
• Market Cap $184 million for 158 million shares
• Chinese have bought into
• SP has been steadily rising since Oct 2 when 52 cents

I hold

HIGHLIGHTS
• The Company continued to ship ore steadily for the quarter, but at slightly lower than target tonnage levels due to seasonal constraints on road haulage and Geraldton Port. A total of 744,177 wet metric tonnes of haematite fines have been shipped since commencement of shipping in February 2006.

• Excellent assay results from Reverse Circulation (RC) drilling at Blue Hills provided validation for the Company’s plans to define additional reserves for an increase in production of haematite Direct Shipping Ore (DSO) from the current notional 1 million tonnes per annum (mtpa) to a target of 2 mtpa. Fe values were in the range of 62% to 65%. It is anticipated that the statement of reserves will be updated in the first quarter of 2007, after which a Board decision on expansion of up to 2 mtpa (lump and fines) is expected to be made.

• Significant progress has been made towards the commencement of the second phase of the Koolanooka and Blue Hills DSO operations in the fourth quarter of 2007. The rate of production ramp up towards the target of 2 mtpa is dependent upon timing of completion of the new dedicated iron ore shiploader by the Geraldton Port Authority and expansion of train unloading capacity.
- Environmental approval documentation has been drafted and is expected to be submitted for public comment in the first quarter of 2007.
- Tender documentation for mining and crushing/screening operations has been drafted and will be issued for bidding during the first quarter of 2007.

• RC drilling at the Beebyn deposit in Weld Range continued to provide encouraging assay results with Fe values of up to 67%. Diamond core drilling to support the metallurgical test programme for Weld Range commenced at the Madoonga deposit. It is anticipated that the statement of resources at Weld Range will be updated in the first quarter of 2007, followed by completion of a Scoping Study during the same quarter.

• RC drilling commenced at the Company’s tenements in Jack Hills. Drilling is expected to continue through into 2007.

 

[bigdog]

SP up 20 cents or 20% today

MIS SP $1.16 +$0.20 +20.83% 2,496,362 shares $2,704,325 31-Jan 16:10:45

The MIS share price has done well since the last posting in Janaury 31!!!

May 21 closing prices was $2.37 @ 21-May 16:10:22

http://www.wabusinessnews.com.au/en...orp-s-rail-plans-sidetracked-until-March-2008

Midwest Corp's rail plans sidetracked until March 2008
21-May-07 by Andrew Hobbs

West Perth-based Midwest Corporation Ltd's efforts to transfer its haulage operations from road to rail by the end of September has hit another snag, with an Environmental Protection Authority assessment due to delay the project by a further six months.

Planning and Infrastrucutre Minister Alannah MacTiernan has pushed the industry hard to use rail in the transport of ore to Geraldton, but relented when the mining companies have failed to meet her targets.

Midwest had previously won an extension of the deadline to September because of delays in negotiating a rail haulage agreement with ARG and the commissioning of its rail wagons.

The company today announced that it had taken delivery of 64 rail wagons at the Port of Geraldton, but would not be able to use them until the environmental impact of the construction of a ore transfer facility at the Tilley railway siding was assessed.

The company has applied to Ms MacTiernan for an extension of the deadline to March 2008.

 

[the barry]

Is anyone following this stock.In comparison to FMG, FMG has approx 265 million shares on issue where as MIS has 180 million shares. Earnings roughly at full production could be half what FMG will be in 08. So i would say the earnings per share could be similar MIS & FMG. This is not taking into consideration, grades, production costs...just averages.. but MIS currently producing 5 million tonnes PA is looking to be a killer investment.

Anyone else got any thoughts, or am I the only one riding this tidal wave home???

 

[bigdog]

MIS looking good today with big special early trade of 4,536,046 shares $15,649,358.70

Someone is moving in!!

Time---- Price --Volume ---Value ---------Condition Codes
08:19:52 3.4500 4,536,046 $15,649,358.70 SPXT

 

[36590]

I looked at MIS and MMX a couple of weeks ago and finsihed up going with MMX. Looking at the graphs at the time where they were level pegging each other. It's interesting that MMX boucned back (even with the Mistsubshi deal) while MIS have continued to slide. Does anyone know why or is it a buying opporunity.

thanks
36590

 

[GreatPig]

Received a letter today about the 1 for 7 share offer if holding on the record date of 26th July. Today's close was $3.73, the offer price $1.46.

Nice little instant gain, provided the share price doesn't totally tank before the shares are issued. They are scheduled to start trading on 27th August.

Cheers,
GP

 

[wipz]

MIS - MIDWEST CORPORATION LIMITED

I have been hearing talk about a possible merger that should be announced soon, anyone else been hearing the same thing?

 

[michael_selway]

Re: MIS - MIDWEST CORPORATION LIMITED

I have been hearing talk about a possible merger that should be announced soon, anyone else been hearing the same thing?

Hi where did you hear it from? sources?

thx

MS

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 1.2 1.5 9.0 16.3
DPS 0.0 0.0 1.0 14.5

 

[Joe Blow]

Re: MIS - MIDWEST CORPORATION LIMITED

I have been hearing talk about a possible merger that should be announced soon, anyone else been hearing the same thing?

Wipz, sources for rumours need to identified in some way. If it has been published in the press then please mention the source, if it is merely forum chatter on other forums then it probably has little foundation in fact. Often people will start rumours of takeovers just to ramp the stock and I don't think that's a practice that should be encouraged.

See ASF's policy on rumours here: https://www.aussiestockforums.com/forums/showthread.php?t=5917

 

[wipz]

Re: MIS - MIDWEST CORPORATION LIMITED

Wipz, sources for rumours need to identified in some way. If it has been published in the press then please mention the source, if it is merely forum chatter on other forums then it probably has little foundation in fact. Often people will start rumours of takeovers just to ramp the stock and I don't think that's a practice that should be encouraged.

See ASF's policy on rumours here: https://www.aussiestockforums.com/forums/showthread.php?t=5917

Hi, sorry, just from word of mouth from a few investor friends of mine.. I am not a holder but want to know if anyone else had heard any similar rumors. If others had I was going to jump on board and pick up a few. Ill try dig around and find out if their sources are credible. Cheers

 

[bigdog]

ASX ANN yesterday
27/09/2007 Extension Of Time for Road Haulage
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00763904

Midwest Corporation Limited (ASX:MIS) wishes to advise that the Western Australian Minister for Planning and Infrastructure, Alannah MacTiernan, has agreed to extend the Company’s permit to haul its ore by road from Koolanooka to Geraldton to allow further assessment of a number of options associated with the transition from road to rail haulage.

Midwest CEO Bryan Oliver said the Minister has granted an extension of the permit until the 20th October to allow the Company and the State Government to assess and finalise the options to achieve the transition to rail.
“We appreciate the Minister’s willingness to talk with us today in what was a positive and constructive meeting,” he said.

The Company will continue with its existing transport arrangements and routes during the period of the extension.


http://www.wabusinessnews.com.au/en-story.php?/1/57133/FMG-shares-reach-50-as-iron-ore-miners-soar
Shares in Midwest Corporation slumped 4 per cent, or 13 cents, to $3.16 as its stoush with the State government over its rights to build infrastructure weighed on the stock. Also sending investors running was news that the government may reject a request by Midwest to extend its permit to haul its ore by road from its stockpile to the port at Gerladton.

Midwest Corp in limbo as govt turns up attack
http://www.wabusinessnews.com.au/en...est-Corp-in-limbo-as-govt-turns-up-attack/dba