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Page 2 of the announcement states its capital raising, and will be in trading halt to Friday 26th.....
POL - Polaris Metals
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Page 2 of the announcement states its capital raising, and will be in trading halt to Friday 26th.....
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the norm(but not always eg ARE) is this too retrace towards what they set the price for the new shares...Im going to take a punt that the shares will go at around 55c to 60c for the capital raising. As i dont own any POL may give the countryboy a chance to aquire before she pushes on 
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Is anyone on these guys?
I thought that since they have a 150-200 million tonne target with 60 million tonnes already delineated, MOU with Toll Holdings for shipment and very close proximity to Kwinana port they would be valued more than the current market cap of $75 million odd.
POL have a large variety of projects at the moment and two key ones undergoing PFS to identify potential for production.
There had been historically issues surrounding one deposit but it was recently excluded from a State nature reserve which has cleared up issues regarding exploration and production.
I thought that since they have a 150-200 million tonne target with 60 million tonnes already delineated, MOU with Toll Holdings for shipment and very close proximity to Kwinana port they would be valued more than the current market cap of $75 million odd.
POL have a large variety of projects at the moment and two key ones undergoing PFS to identify potential for production.
There had been historically issues surrounding one deposit but it was recently excluded from a State nature reserve which has cleared up issues regarding exploration and production.
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Is anyone else on these guys???
They seema bit unloved when you consider they have 60 million tonnes of fe already identified.
Next to Portman we could see a significant rise when next round of drill results come in.
They seema bit unloved when you consider they have 60 million tonnes of fe already identified.
Next to Portman we could see a significant rise when next round of drill results come in.
have a read of the qrtley guys. This company is undervalued and will take steep re-rating in coming 6months. They are undertaking campaign style drilling, with 2 feasibilty studies underway. With so much going on, IHMO, it is great time to be holding or buying this stock.
Highlights below:
Polaris Metals NL (ASX: POL) has continued to make significant progress on the development of its assets and is on track for production during 2009.
* Appointment of new production-oriented management team to oversee transition to iron ore producer;
* Continued development of a pipeline of iron ore projects in Western Australia�s Yilgarn and Pilbara iron ore provinces with collective target potential of 400-550Mt;
* 10,640m of RC drilling completed in the Yilgarn and Pilbara;
* Yilgarn Iron Ore Project pre-feasibility study progressed, based on 150-200Mt DSO target potential, including on-going drilling program, lodgement of an application to drill 60Mt Bungalbin East deposit and appointment of expert contractors;
* 8,000m RC drilling program commenced as part of Poondano Project pre-feasibility study. The PFS is assessing 1.25-2.50Mtpa operation from 10-15Mt CID target potential, with commercial iron grades validated by mesa sampling;
* 250Mt-310Mt Weelumurra and Caliwinga Creek CID and Canga target potential indicated by specialist interpretation of Landsat imagery � drill testing being planned to follow finalisation of statutory approvals and the grant of the tenements;
* Spin-out of gold and nickel assets to Southern Cross Goldfields Limited to allow dedicated focus on development of iron ore projects;
* Completion of a renounceable rights issue raising $6.7M, fully supported by the two major shareholders.
Polaris is now poised to make the transition from strategic explorer to significant iron ore producer in 2009.
Capital Structure:
Share Price (POL): $ 0.59
Issued Shares: 128.0m
Market Cap: $75.5m
cheers.
Highlights below:
Polaris Metals NL (ASX: POL) has continued to make significant progress on the development of its assets and is on track for production during 2009.
* Appointment of new production-oriented management team to oversee transition to iron ore producer;
* Continued development of a pipeline of iron ore projects in Western Australia�s Yilgarn and Pilbara iron ore provinces with collective target potential of 400-550Mt;
* 10,640m of RC drilling completed in the Yilgarn and Pilbara;
* Yilgarn Iron Ore Project pre-feasibility study progressed, based on 150-200Mt DSO target potential, including on-going drilling program, lodgement of an application to drill 60Mt Bungalbin East deposit and appointment of expert contractors;
* 8,000m RC drilling program commenced as part of Poondano Project pre-feasibility study. The PFS is assessing 1.25-2.50Mtpa operation from 10-15Mt CID target potential, with commercial iron grades validated by mesa sampling;
* 250Mt-310Mt Weelumurra and Caliwinga Creek CID and Canga target potential indicated by specialist interpretation of Landsat imagery � drill testing being planned to follow finalisation of statutory approvals and the grant of the tenements;
* Spin-out of gold and nickel assets to Southern Cross Goldfields Limited to allow dedicated focus on development of iron ore projects;
* Completion of a renounceable rights issue raising $6.7M, fully supported by the two major shareholders.
Polaris is now poised to make the transition from strategic explorer to significant iron ore producer in 2009.
Capital Structure:
Share Price (POL): $ 0.59
Issued Shares: 128.0m
Market Cap: $75.5m
cheers.
No one interested in todays monster assays/intercepts? 
Significant Assay Results From Carina Drilling
Yilgarn Iron Ore Project
* Highly encouraging results from first assays at the Carina prospect within key Yilgarn Iron Ore Project – 106m at 58.7% Fe with 0.05% P and low silica and alumina
* Confirmation of the exploration potential of the region for further discovery of Direct Shipping Ores outside the proposed Mt Manning A-Class Nature Reserve extension.
The Directors of Polaris Metals NL (ASX: POL) are pleased to announce the receipt of the first drill hole assays from the Carina prospect, part of the Yilgarn Iron Ore Project (YIOP), 60km north of Koolyanobbing in Western Australia.
Hole Interval Length Fe % SiO2 % Al2O3 % P % LOI %
CA0011 0-112m 112m 58.13 3.71 1.63 0.07 10.2
including 2-108m 106m 58.71 3.33 1.36 0.05 10.2
and 14-102m 88m 59.73 2.57 0.98 0.05 10.1
and 36-72 36m 60.40 2.35 0.71 0.05 10.1
The significance of the Carina intercept can be summarised as follows:
* The intercept confirms the potential of the YIOP region for new and significant DSO discoveries;
* The indicated grade and extent of the mineralisation are sufficiently large to potentially support a standalone DSO mining operation;
* The low contaminant levels (0.05% P) suggest Carina can be blended with other ores such as those at J4, J5 and Bungalbin East to achieve shipping-grade specifications for a higher proportion of the YIOP resource base; and
* Carina lies outside the proposed Mt Manning A-Class Nature Reserve extension and hence mining approvals should not be subject to excessive environmental delay.
cheers
Significant Assay Results From Carina Drilling
Yilgarn Iron Ore Project
* Highly encouraging results from first assays at the Carina prospect within key Yilgarn Iron Ore Project – 106m at 58.7% Fe with 0.05% P and low silica and alumina
* Confirmation of the exploration potential of the region for further discovery of Direct Shipping Ores outside the proposed Mt Manning A-Class Nature Reserve extension.
The Directors of Polaris Metals NL (ASX: POL) are pleased to announce the receipt of the first drill hole assays from the Carina prospect, part of the Yilgarn Iron Ore Project (YIOP), 60km north of Koolyanobbing in Western Australia.
Hole Interval Length Fe % SiO2 % Al2O3 % P % LOI %
CA0011 0-112m 112m 58.13 3.71 1.63 0.07 10.2
including 2-108m 106m 58.71 3.33 1.36 0.05 10.2
and 14-102m 88m 59.73 2.57 0.98 0.05 10.1
and 36-72 36m 60.40 2.35 0.71 0.05 10.1
The significance of the Carina intercept can be summarised as follows:
* The intercept confirms the potential of the YIOP region for new and significant DSO discoveries;
* The indicated grade and extent of the mineralisation are sufficiently large to potentially support a standalone DSO mining operation;
* The low contaminant levels (0.05% P) suggest Carina can be blended with other ores such as those at J4, J5 and Bungalbin East to achieve shipping-grade specifications for a higher proportion of the YIOP resource base; and
* Carina lies outside the proposed Mt Manning A-Class Nature Reserve extension and hence mining approvals should not be subject to excessive environmental delay.
cheers
Surprised at the lack of discussion regarding this stock?
On Carina target, the company has reported that drilling intersected 100m of hemetite-geothite material across 1.5km strike and width of 90metres, from surface. First assays released was 102m at 58.7%fe and low p, amazing intercept. The ore body is open at strike and depth.
Assays on the following 11holes are expected by the company in late feb, ie now.
lets run some basic tonnage calcs on this:
1500 x 90 x 100 x(sg of 4) = 54million tonnes and this is open.
The yilgarn project has total target of 150-200mt, 69mt of this has already be proven by drilling by bhp in the 1960's.
Feasibilty studies on a 5-10mtpa mining operation for up to 20years is due for completion mid 2008.
These yilgarn depsits are just 50km from rail, where the comapny plans to rail its ore to Kiwana bulk jetty.
Poondano project in the Pilbara, just 30km from porthedland, is due for initial JORC resource calc at end of march, a feasibility study on this project is due around may, looking at 2.5mpta.
A malyasian steel maker owns 19.9% of POL, and is interested in off-take. An MOU with singapore toll transport has been signed for shipping and ore handling.
Director recently bought over $300K of stock at 60cents, through a combination of rights issue take up and on market purchases.
So we have a company that that is well set to be shipping 2.5mpta mid 2009, and an additional 10mpta in 2010.
A new "procuduction" based mangement team has been brought in recently, the MD being a former Principle Rio Tinto mining adviser.
POL has a market cap of $80, undervalued?
Based on the above reason, i believe POL is set for a significant re-rating through positive drilling results and feasibilty study results in coming months.
And to add, the SP has climbed from day low of 57cents on friday to close at 64cents today.
cheers.
On Carina target, the company has reported that drilling intersected 100m of hemetite-geothite material across 1.5km strike and width of 90metres, from surface. First assays released was 102m at 58.7%fe and low p, amazing intercept. The ore body is open at strike and depth.
Assays on the following 11holes are expected by the company in late feb, ie now.
lets run some basic tonnage calcs on this:
1500 x 90 x 100 x(sg of 4) = 54million tonnes and this is open.
The yilgarn project has total target of 150-200mt, 69mt of this has already be proven by drilling by bhp in the 1960's.
Feasibilty studies on a 5-10mtpa mining operation for up to 20years is due for completion mid 2008.
These yilgarn depsits are just 50km from rail, where the comapny plans to rail its ore to Kiwana bulk jetty.
Poondano project in the Pilbara, just 30km from porthedland, is due for initial JORC resource calc at end of march, a feasibility study on this project is due around may, looking at 2.5mpta.
A malyasian steel maker owns 19.9% of POL, and is interested in off-take. An MOU with singapore toll transport has been signed for shipping and ore handling.
Director recently bought over $300K of stock at 60cents, through a combination of rights issue take up and on market purchases.
So we have a company that that is well set to be shipping 2.5mpta mid 2009, and an additional 10mpta in 2010.
A new "procuduction" based mangement team has been brought in recently, the MD being a former Principle Rio Tinto mining adviser.
POL has a market cap of $80, undervalued?
Based on the above reason, i believe POL is set for a significant re-rating through positive drilling results and feasibilty study results in coming months.
And to add, the SP has climbed from day low of 57cents on friday to close at 64cents today.
cheers.
Can someone please kindly explain what is going on with the volume of both buyers and sellers which have been dried up since the announcement of spin-off of Polaris’ non-iron ore assets? Isn’t it good news when POL holders from now would be receiving 1 SXG share for every 5.77 POL shares they hold and POL could now focusing their mind to their iron-ore projects in full potential?
The path to significant rerating
This is how I see it playing out in coming weeks/months.
March
YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)
- Carina Results and initial Jorc resource statement (first hole of 12 gave 106m @ 58.7%fe, hemetite-geothite intesected at similar widths over 1.5km strike, open at depth and along strike)
- update on drilling at Chameleon, Vela, J4 extension and Musca that has now been completed, possible initial assays for chameleon.
- update on further drilling program set to start up again in april, possibly including Bungalbin drill program (mineral deposit drilled by BHP in 1960's with 69mt@59%fe)
-details of Portman agreement regarding tenements containing Bungalbin east and J4. (commercial agreement agreed in principle, details pending)
POONDANO PROJECT (target 10-15mt CID DSO)
-drill results from extensive in-fill program at west and east CID. Initial JORC resource statement.
-update on drill program set to test central mesas and on bulk metallurgical sampling program.
April
YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)
-drill results for Chameleon, Vela, J4 extension and Musca (or at least for several of these targets)
-initial JORC resource statements for Vela and J4 extension
-New drill program underway testing additional discrete targets and extension of Carina strike, possibly Bungalbin also.
POONDANO PROJECT (target 10-15mt CID DSO)
-New drill program underway testing central messas and infill of east CID.
-update metallurgical testing program
May-July
YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)
-further drill results from initial drill program and april program (Carina extension, Bungalbin, discrete targets)
-Pre-feasibility study completion on 10mtpa DSO operation over 10-20years (2010 mine commencement), shipping DSO through new Kiwana Port via established rail link.
-likely Off-take agreement to Polaris strategic partner (19.6% stakeholder) "Lion group malaysia-steel division".
-formal agreement of current MOU with Toll malaysia for shipping and handling of ore.
POONDANO PROJECT (target 10-15mt CID DSO)
-further drill results from april drilling program, and metallurgical testing program.
- Pre-feasibility study completion on 2.5mtpa DSO operation over 5years+ (mid 2009 mine commencement), shipping through new berth at Port Hedland, close proximity with only 30km of ore trucking required.
WEELUMURRA AND CALINWINGA PROJECT(target 210-310mt CID DSO)
-new drill program testing the 250mt-310mt CID targets (with average grades of approx 58-60%fe), next door to FDL/FMG tergets/resources.
Market cap at this stage?....wont be the current $70mill that's for sure.
Polaris represents incredible value at present price IMO.
cheers.
This is how I see it playing out in coming weeks/months.
March
YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)
- Carina Results and initial Jorc resource statement (first hole of 12 gave 106m @ 58.7%fe, hemetite-geothite intesected at similar widths over 1.5km strike, open at depth and along strike)
- update on drilling at Chameleon, Vela, J4 extension and Musca that has now been completed, possible initial assays for chameleon.
- update on further drilling program set to start up again in april, possibly including Bungalbin drill program (mineral deposit drilled by BHP in 1960's with 69mt@59%fe)
-details of Portman agreement regarding tenements containing Bungalbin east and J4. (commercial agreement agreed in principle, details pending)
POONDANO PROJECT (target 10-15mt CID DSO)
-drill results from extensive in-fill program at west and east CID. Initial JORC resource statement.
-update on drill program set to test central mesas and on bulk metallurgical sampling program.
April
YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)
-drill results for Chameleon, Vela, J4 extension and Musca (or at least for several of these targets)
-initial JORC resource statements for Vela and J4 extension
-New drill program underway testing additional discrete targets and extension of Carina strike, possibly Bungalbin also.
POONDANO PROJECT (target 10-15mt CID DSO)
-New drill program underway testing central messas and infill of east CID.
-update metallurgical testing program
May-July
YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)
-further drill results from initial drill program and april program (Carina extension, Bungalbin, discrete targets)
-Pre-feasibility study completion on 10mtpa DSO operation over 10-20years (2010 mine commencement), shipping DSO through new Kiwana Port via established rail link.
-likely Off-take agreement to Polaris strategic partner (19.6% stakeholder) "Lion group malaysia-steel division".
-formal agreement of current MOU with Toll malaysia for shipping and handling of ore.
POONDANO PROJECT (target 10-15mt CID DSO)
-further drill results from april drilling program, and metallurgical testing program.
- Pre-feasibility study completion on 2.5mtpa DSO operation over 5years+ (mid 2009 mine commencement), shipping through new berth at Port Hedland, close proximity with only 30km of ore trucking required.
WEELUMURRA AND CALINWINGA PROJECT(target 210-310mt CID DSO)
-new drill program testing the 250mt-310mt CID targets (with average grades of approx 58-60%fe), next door to FDL/FMG tergets/resources.
Market cap at this stage?....wont be the current $70mill that's for sure.
Polaris represents incredible value at present price IMO.
cheers.
The reamining 11 of the 12 drill holes from Carina (a very exciting prospect - as evidenced by the inital results of the first drill hole released) *** I have to put that in here other wise I will be moderated from ramping ***
They should of been out at the end of Feb we were told in the announcement, so surely should not be too far away.
Doing all the right thing, has Ian Buchhorn involved and following him around is not a silly thing to do.
All the best to Holders
They should of been out at the end of Feb we were told in the announcement, so surely should not be too far away.
Doing all the right thing, has Ian Buchhorn involved and following him around is not a silly thing to do.
All the best to Holders
hi Stix.
Your right, Ian Buchorn is no mug, very successful in the mining/resources industry. As a director of POL, he has bought some 800K shares at average mid 50cents- around current price.
I've made my thoughts quite clear on where i see POL going, see my above last 2 posts.
Final Carina results were delayed due to Lab issues i believe, however we must be getting close now.
Based on the first 100m hit from surace of DSO grade (low impurity) ironore, we could be in for something speciel
cheers.
Your right, Ian Buchorn is no mug, very successful in the mining/resources industry. As a director of POL, he has bought some 800K shares at average mid 50cents- around current price.
I've made my thoughts quite clear on where i see POL going, see my above last 2 posts.
Final Carina results were delayed due to Lab issues i believe, however we must be getting close now.
Based on the first 100m hit from surace of DSO grade (low impurity) ironore, we could be in for something speciel
cheers.
Yes I do believe we are Fisho..... I know you and Sally_will are big fans of this stock and I too have been turned ot to this stock by Rockford. And of course these two are very much into HRR (good move today - so far!) as well.
Do you hold HRR? Don't forget we have got our SXG as well from POL :-D
We sit and wait, but not for too long we hope.
Do you hold HRR? Don't forget we have got our SXG as well from POL :-D
We sit and wait, but not for too long we hope.
Stix.
I dont hold HRR but i do follow loosely.
I might look to take a position shortly, as it is looking cheap and getting close to support levels. Could be takeover target.
Hang on to ya POL, its a quality company with high class management and assets. My pick of all the all IO juniors, hence I have bought many from a first purchase at 17cents.
Up at the present too in tough market. Carina results will be excellent IMHO based on first assays and type/extent of minerilisation hit in the other 11 holes.
cheers
I dont hold HRR but i do follow loosely.
I might look to take a position shortly, as it is looking cheap and getting close to support levels. Could be takeover target.
Hang on to ya POL, its a quality company with high class management and assets. My pick of all the all IO juniors, hence I have bought many from a first purchase at 17cents.
Up at the present too in tough market. Carina results will be excellent IMHO based on first assays and type/extent of minerilisation hit in the other 11 holes.
cheers
Hi fishomc,
U have been providing a fairly comprehensive commentary of this IO baby...
Can you tell me a little about the cost per ton to dig, clean and ship etc...
Yilgarn IO Project looks to be 500K from Perth, train line there...
Poondano 30K to Port Headland... Trucks?
Would say that its reasonable shipping costs...?
Also open pit at 150m depths...? Is that about right...?
Only just tapping into this co. and want to get some estimates to model from...
Help and opinions from anyone here would be great.... Ta
Oh, and your ideas on CAPEX...?
Cheers,
Pat
U have been providing a fairly comprehensive commentary of this IO baby...
Can you tell me a little about the cost per ton to dig, clean and ship etc...
Yilgarn IO Project looks to be 500K from Perth, train line there...
Poondano 30K to Port Headland... Trucks?
Would say that its reasonable shipping costs...?
Also open pit at 150m depths...? Is that about right...?
Only just tapping into this co. and want to get some estimates to model from...
Help and opinions from anyone here would be great.... Ta
Oh, and your ideas on CAPEX...?
Cheers,
Pat
Found some cost estimates
http://www.polarismetals.com.au/upload/documents/investor/asx/220807YilgarnIronOreProject.pdf
I did a really rough, and conservative valuation...
--------------------------------------
Over 8yr period...
Start up at 2.5mt/pa Scale to 5mt/pa by 5th yr
Avg Spot price of $90 p/ton
Avg Cost $45 p/ton
CAPEX 300m (Eq. 40% / Deb. 60%)
Debt Paid off in 8yrs
I get Fair Value around $287,800,000 MCap
Somewhere around 130c-150c Per Share with future dilution.
With say a 22c per yr EPS
Loads of upside in value if they ramp to 10mt/pa.
--------------------------------------
Anyone care to compare notes...? Whats your evaluations...?
I'm thinking about buying!
Pat
http://www.polarismetals.com.au/upload/documents/investor/asx/220807YilgarnIronOreProject.pdf
I did a really rough, and conservative valuation...
--------------------------------------
Over 8yr period...
Start up at 2.5mt/pa Scale to 5mt/pa by 5th yr
Avg Spot price of $90 p/ton
Avg Cost $45 p/ton
CAPEX 300m (Eq. 40% / Deb. 60%)
Debt Paid off in 8yrs
I get Fair Value around $287,800,000 MCap
Somewhere around 130c-150c Per Share with future dilution.
With say a 22c per yr EPS
Loads of upside in value if they ramp to 10mt/pa.
--------------------------------------
Anyone care to compare notes...? Whats your evaluations...?
I'm thinking about buying!
Pat