NIA - Niagara Mining

[geminidreams]

Pehaps they should more appropriately name this one Poseidon Adventure Mining.

The original Poseidon made no money out of their nickel foray at Windarra but was eventually quite successful with their interest in the Golden Mile. Hopefully this lot have a backup plan too!

 

[giss]

i haven't heard anything from this stock for a while. I wonder if its been oversold? Its probably dependent on the price of nickel

 

[Love Zn]

i haven't heard anything from this stock for a while. I wonder if its been oversold? Its probably dependent on the price of nickel

Nickel had a bit of a rally last week, not sure if it will last though, but if it does, may see a breakout again.

 

[Love Zn]

With the MACD looking like it was about to start heading up, but instead it bounced down with the fall of NIA share price againl, which just confirms the sell.

Won't be looking to buy back into this for a while, not unless the nickel prices start coming up again.

 

[s3081402]

NIA increase 20% today. Anyone know why or is it because the price was to low for buyer to resists.

 

[adobee]

Whats happening with Niagra Mining ?? I looked at it some time ago and then again today but cant get any info on it with comsec ? Either comsec has a problem or the company does ? Any one watching this/ holding please advise if anything dramatic is happening ?! Thanks

 

[Blumoontrader]

It's Now Posiden Mining ASX code POS

Wonder if it is an omen??

Didn't have a good day today... But then again, neither did the market

 

[Miner]

Re: NIA - Niagra Mining NOW Posdein

Yes you are right. The new certificates have been issued. THe Pos share probably reflecting its true value. Now Andrew FOrest got his shares and options at too cheap price just to lent his name. He was too busy even to attend the AGM when the shareholders unashamedly crowned him to be chairman. Well done but with FMG being the front runner it is doubtful that he would have time for Posdein. So with no sound technical or fundamental POS will be sliding further.

I do hold this shares but now realising the reality of its myth.

 

[stevemosh]

Guys

this stock is very over valued now and i can prove it

hence the drop in price and its due to projected income no longer going to meet its target. - also why there has been no real ann's recently IMO

The reason the SP shot up in april was not because of Andrew Forest, it was because they predicted a $137 mil profit - that took the price from 75c all the way up to $1.80. That was using the current nickel price, however since then the nickel price has fallen over quite hard, have a look at this

http://www.lme.co.uk/nickel_graphs.asp

they made this prediction near the top of this high, because of the huge costs in producing this nickel by leaching they have lost all their profit margin, take the ann in april where they did all the maths for the profit and replace that days nickel price of $45K/t with todays of $31K/t it brings the profit down to $12mil which is 10% of what they predicted.

this is why the price shot up so hard, and has come back down to the price prior to the announcement. This stock will only make money with nickel prices around $45K/t and you want a realistic sp as well not where it is now

So for people who don’t read reports,
-sp went from 22c to 75c when Twiggy came on board.
-sp went from 80c to $1.85 with the projected profit report of $137mil
-Sp is now headed from $1.85 to ??? now nickel price is $31K/t and profit will only be marginal of what was expected


so the reason for the price drop is all the smart money has been slowly pulling their money out. This stock IMO will keep going down hill untill the nickel price /t comes back up to the record highs when they made than announcement.

knowing this now have a read of this news artical

http://www.smh.com.au/news/xchange/poseidon-returns-has-marginal-plan/2007/07/02/1183351125682.html

Some key comments in this artical:
It will need nickel prices well above the long term average to make a go of it.
Forrest hasn’t brought much to the table yet!
The project may have looked good a few weeks back when nickel was trading at record highs
Could rank it as the most expensive producer in WA
The projects chances of getting off the ground are not looking great.


IMO this stock is too risky to own now as you are gambling that nickel prices will go back to record highs, if it does not than the income stream NIA had in place to create revenue will no longer be at the level thay said it would be.

 

[Miner]

Dear Stevemosh
Well said. ONe correction regarding Andrew Forrest has not brought any thing on the table and that was not quiet correct.
He gave people hope for gold on the table and that turned out to be nickel . He will gain enough from his options granted, and you get nickel. When he was to deliver nickel at Anaconda he created a big whole . He would do the same when hypes get subsidised in MOL and FMG . Look at IRL there he is too.
Good luck Twiggy and good luck to his investors who bought FMG shares at $36 only a week back.

Enjoy and regards

Miner