NIA - Niagara Mining

[exgeo]

First ore planned to be mined from the re-opening of the Windarra underground mine in September. Making progress on re-establishing the surface facilities such as electrical and mechanical workshops. Also making progress on the project for heap-leaching of the waste dumps to produce nickel.

 

[exgeo]

The Company is pleased to inform shareholders that it has acquired the Woodline Well Nickel Sulphide Project from Perilya Limited which is located approximately 10km west of the Windarra Nickel Project. The transaction with Perilya will compliment the company’s exploration and development strategy for the Windarra district. Drilling (historical) intersected 3.1m at 2.3% nickel and 6.1m at 3.0% nickel in percussion hole PDH1 and 0.9m at 4.3% nickel in diamond hole DDH1.

...

 

[bigt]

Potential for a >$100 million operating profit, according to recent ann.

I think this now has great potential, 83% held by top 20, recent solid placement. Good enough for me to move out of CBH and into NIA.

Good luck to all holders, lets hope this keeps moving up.

 

[mmmmining]

Very strange price action before trading halt.

SP is at $0.27 pre open.

Don't what is the news. It has got some money a couple of months ago. Cannot be another placement, right?

 

[exgeo]

didn't a recent ann mention smth about a resource statement for the WNP mine around now?

 

[mmmmining]

from www.miningnews.net

--------------------------------------------
Twiggy set to join Poseidon adventure
Paul Garvey
Wednesday, 4 April 2007

IRON ore baron Andrew Forrest is expected to be appointed to the board of junior nickel play Niagara Mining – which has its foot on the famed Windarra project that sparked the nickel boom of the 1970s – later today.

Andrew Forrest
Mount Windarra nickel project in Western Australia

MiningNews.net understands that Forrest was yesterday seen entering the offices of Niagara, feeding rumours that a management restructure of Niagara was imminent.

Niagara went into a trading halt on Monday pending an announcement expected no later than the close of business today.

The West Australian newspaper today reported that Forrest and Ventnor Capital director Richard Monti were tipped to join forces with Niagara's father-and-son team of Doug and Chris Daws.

Monti was a geologist at Anaconda Nickel, the Western Australian nickel laterite play that launched Forrest to prominence. Anaconda's early underperformance pushed its then chief executive Forrest into temporary corporate exile, but he has since returned to the forefront of Fortescue Metals Group's growth into a multi-billion dollar iron ore hopeful.

Niagara picked up Windarra from WMC Resources in January 2005 for $7 million.

Windarra, whose discovery by Poseidon in the 1970s marked the start of the first nickel boom, produced about 7 million tonnes of sulphide nickel ore at grades of more than 1.58% before it was closed in 1991.

Forrest stepped down from the boards of Moly Mines and Monarch Gold Mining last year citing increased workloads at Fortescue, but late last year added a directorship at Arafura Pearls to his list of corporate roles.

Niagara CEO Chris Daws could not be reached for comment this morning.

Shares in Niagara were trading at 24.5c prior to the calling of the trading halt.

 

[mmmmining]

Ann is out, basic the board has sold NIA to Andrew Forrest at 20c/share! Man, these rich people are getting serious, want more, and more. What difference does it made to have $2b, or $2.1b? Andrew just want that little difference shamelessly. Fine, make me some money, I am with you.

 

[sydneysider]

Bought in on Thursday morning near the lows. The massive buy volume of over 50,000,000 in half a day and friendly take over of management by Forrest is indicative that NIA may run much higher next week. I suspect that a number of corporates with deep pockets are not yet finished buying. NIA is on the verge of becoming a significant producer of nickel in the near term and sits on very strategically located Ni and Precious Metal Resources.

 

[Uranium]

Hello,

Has anybody looked at market depth today for NIA (10/04/2007).
It looks like many buyers on my etrade platform, is it similar on anyones else?

Dom

 

[sydneysider]

Hello,

Has anybody looked at market depth today for NIA (10/04/2007).
It looks like many buyers on my etrade platform, is it similar on anyones else?

Dom

Early morning bid is at 65 cents which is 7.5 cents above the last close. Should be an interesting day.

 

[nizar]

Im not sure whether you guys just refused to look at the sell side at all!

Theres a fair bit of sellers below 58c.

Which explains the match price (indicative opening) at 57.5 (which would be flat).

Still a bit to go before the open though.

 

[mmmmining]

There is no need to hope the price of NIA will move higher anytime soon. I believe Twiggy will make this one bigger and better than FMG because he is a born and burn nickel man.

 

[sydneysider]

Im not sure whether you guys just refused to look at the sell side at all!

Theres a fair bit of sellers below 58c.

Which explains the match price (indicative opening) at 57.5 (which would be flat).

Still a bit to go before the open though.

Bid now upped to 70 cents??

 

[nizar]

Bid now upped to 70 cents??

Seller at 50c ??

 

[bigt]

This is my first "one that got away"..I was stopped out of this a week or so ago at 22c...to say I'm gutted is a drastic understatement. Trying very hard to get some positives...but finding it very difficult. Who would have seen this ann on the horizon? Anyway, you live and learn.

 

[sydneysider]

Seller at 50c ??

Bid now 80 cents??

 

[exgeo]

A good advertisement for never ever using automatic stops, whether executed by yourself, or automatically. Especially with small speculative companies. Buy something good and keep it until one of the following happens 1) you make a profit 2) you find out you made an error in your analysis

 

[mmmmining]

If you do your own research, and select a bunch of small mining companies with good and bad but understanding board and management, there is a whole bunch of NIAs around the corner.

Use basket approach can net some good ones like NIA, MOL, HDN, ...... You might get some baggages too. But the bad one might drop 50%, and the good one can more than double. So overall, you are a winner.

 

[sydneysider]

Seller at 50c ??

Just shy of 70 cents with almost 20 million traded. Brokers talk (take it with a grain of salt) that it will hit $1.00 as many Forrest supporters pile in.

 

[sydneysider]

Managed to hit 79 now holding 76 and still keenly bid with turnover now over 30 million shares.