TLM - Talisman Mining

[YOUNG_TRADER]

Looks like nobody cares that Murchison has bought into TLM,

I thought this would have got a bit of a discussion going, but no, surprised it hasn't

No one has any comments?

 

[UPKA]

takeover target? is that how they tried to do on Midwest?



ken

I thought their holding was rather insignificant, i really dunno wat to make of their holdings...

 

[YOUNG_TRADER]

I thought their holding was rather insignificant, i really dunno wat to make of their holdings...

I know, its so small, why bother?

I don't get it either UPKA and don't know what to make of it,

Its not negative, its positive, but I doubt its a takeover, my thoughts where maybe their the investor? But then why has that Senor dude joined?

Time will tell, perhaps I should just sit back, shut up and wait

 

[canny]

YT - I'm guessing that the as yet unnamed 'large investor' is likely to be a Jubilee contact of Seniors - Kerry Harmanis....
This is at educated guess stage only becasue of their prior relationships - money available and the timing of the appointment of Alan Senior.

Whichever way it goes, we are likely to see the TLM price continue onwards and upwards after next round of results.... there was a very positive and energy filled atmosphere at the AGM from all reports.

Looking forward to some very neat numbers!

 

[aleckara]

Hi all,

After the 15% gain yesterday for no apparant reason I could see a trading halt has been put on the company today.

Could this be a finalisation of the drilling results? Or something more major?

 

[IOT]

well looks like speculation was right...kerry harmanis has bought in...should be interesting Monday!

Wish I had some

 

[Miner]

well looks like speculation was right...kerry harmanis has bought in...should be interesting Monday!

Wish I had some

Yes there was a big story on Harmanis taking a major share of TLM.
With DJ fall on Friday probably TLM would be an interesting proposition on Monday.

Regards

 

[HOT STOCKS]

Harmanis buys into Talisman (TLM) iron ore article!!!


Article in West Australian…here is transcript!!!

Harmanis buys into iron ore:
15th December 2007, 11:15WST

‘Jubilee Mines founder Kerry Harmanis, who has made a $473 million fortune out of nickel, has joined the race to develop WA’s next generation of iron ore producers.

Mr Harmanis is investing about $5 million in return for a 7.1 per cent stake in Talisman Mining, a fledgling Subiaco-based company exploring the Pilbara for iron ore.

The investment is Mr Harmanis’ first since agreeing to Jubilee’s $3.1 billion takeover by Xstrata two months ago.

Mr Harmanis, who set up Jubilee 20 years ago, is set to pocket $473 million for his 15.9 per cent stake.

Mr Harmanis would not comment yesterday and has made it clear previously that he intended to revert to a low profile once the Jubilee deal was completed.

Talisman confirmed Mr Harmanis’ investment late yesterday when announcing a $9 million share placement to select investors at $1 a share.

The money raised will mainly pay for resource drilling at Talisman’s flagship Wonmunna project in the Pilbara which the explorer hopes contains an iron ore resource of at least 50 million tonnes.

Talisman’s shares have been in a trading halt since Wednesday, having last closed at $1.30, but are expected to soar on Monday on news of Mr Harmanis’ investment. The shares were trading below 20 ¢ in August before Talisman announced a shift from mainly copper-focused exploration to iron ore, sparking the rally.

Mr Harmanis will invest $2 million in the placement and buy about $3 million worth of shares from Talisman’s founding managing director, Steve Elliott.

The total investment is likely to make Mr Harmanis the biggest shareholder in Talisman, which will have a market capitalisation of $96.2 million after the placement and the exercise by Mr Elliott of four million options.

The Wonmunna deposit has returned early-stage drill hits of 20m grading at 61.4 per cent Marra Mamba-style iron. It sits alongside Rio Tinto’s Hope Downs railway line and is likely to be ultimately reliant on access to its rival’s infrastructure.

Meanwhile, Mr Harmanis has urged Jubilee shareholders to speed up their level of acceptances of Xstrata’s $23-a-share cash offer.

The take-up of the offer, despite Mr Harmanis’ support, has been slower than expected and has forced Xstrata to extend the bid deadline to January 31.

The level of acceptances stands at only 40.1 per cent, with some Jubilee shareholders thought to be holding on to the slim chance of a higher, rival offer emerging.

Jubilee’s shares closed at $22.65 yesterday, suggesting the wider sharemarket did not believe a third party would be able to trump Xstrata.

In a letter to shareholders, Mr Harmanis urged them to accept the offer by next month’s deadline or face the prospect of being minority stakeholders in an Xstrata-dominated, listed Jubilee.’

PETER KLINGER

Link to West Australian Buiness article Harmanis buys into iron ore:

http://www.thewest.com.au/default.aspx?MenuID=3

Harmanis buys into iron ore:

12/14/2007 9:33:00 PM ET
The West Online
‘Harmanis buys into iron ore ads from Yahoo! Search Marketing: TV Perth All Channels - Perth ABC WA Channel Seven Perth Channel Nine Perth Network TEN Perth ABC2 SBS WA Access 31 SBS News All Channels - Regional ABC WA Channel Seven Perth Golden West Network Channel Nine Perth WIN Television WA Network TEN Perth ABC2 SBS WA Access 31 SBS News Yesterday Today Tomorrow Monday Early Hours Morning Afternoon Tonight / Primetime Delivery West Australian Newspapers Limited 2007. All Rights Reserved.’

Link to article:

[URL="http://www.stockhouse.ca/mediascan/news.asp?newsid=9831392"]http://www.stockhouse.ca/mediascan/news.asp?newsid=9831392

IMO Monday promises to be very exciting for all TLM shareholders.

All the best!

 

[gfresh]

Staying quite steady whilst other stocks plunge. Has dipped just below $1.00, but as can be seen late November, it doesn't last long below this point.

2nd round of early drilling is in the lab apparently, and results should be released sometime within the next 2 weeks.

Only 66M shares on issue, and likely 50mT+ high grade Marra Mamba Hematite. This puts in very good light compared to many other iron ore peers. The heavy weights of Alan Senior, and Kerry Harmanis obviously very much like what they see, compared to many other iron ore juniors they could choose to invest in and lend their experience to.

 

[Bushman]

Well placement was at $1 to sophisticated investors, Kerry Harmanis bought 7% of the company in the 90's and 50 MT hematite target is likely to be firmed up in 2008.

So I'm in in the low 70's - big discount to what more learned investors than me bought these at. TLM to me has the most potential to firm up a decent market cap in the shorter term.

Problem is it is illiquid and likely to plummet during corrections. Maybe I should just not look for 3 months. Fat chance. Investing is hell sometimes.

 

[Bushman]

Good ann today - at least I thought it was good. Market doesn't but if you take your signal from the market at the moment then you would not be buying producing miners, let alone those firming up resources.

Anyway ann summary -

There are now 4 distinct drilling targets at Wonnunma -
1. NMM (north Marra Mamba) - reconnaisance drill hits in moderate to high range (55% to 61%). Low impurities. Thus a DSO target. 5.5km target area; 35 drill holes completed to 'confirm mineralisation'. Maiden JORC drilling to start March 2008 with an aim to release maiden JORC on NMM August 2008.
2. Further CCID drill results released. Follow up reconnaissance drilling to follow. Large CID target of 15ms. 68 drill holes completed.
3&4 - further 3 targets - SMM (sotuh Marra Mamba), EMM (east MM) and ECID (east Channel Iron). Reconnaissance drilling to commence March 2008.

Once again, directors mention the 3 large haemitite/geothithe mines that surround Wonmunna - Area C, West Angeles and Hope Downs. Perks to this are low capex as infrastructure is already there.

Rest is stil the same - elephant company, Harmanis number one ticket holder, drilling campaign fully financed, low cap, blah blah blah. Losing value like one of those Channel 9 cricketing collectors items at the moment but I think this is silly and that buyers will return if/when they confirm that the iron is there. Or at least I hope so as this market has a tendency to make you look like a fool at the moment. C'est la vie.

 

[gfresh]

I thought it was pretty positive. It seemed to there was a noticeable lag between the ann and the sell-down, which tended to indicate to me they didn't know what to make of it - other than go with the crowd after no "instant run". Good in a way to see traders bugger off in some ways, leaves a guide to a price investors are happy to hold..

As the ann yet again stated, Talisman is right in the heart of Pilbara Iron Country. With the likes of Kerry Harmanis as investor, this has to be a positive if they need to negotiate transport to nearby railways.

Drilling was still only preliminary, which at least has been encouraging enough for them to go forward on full-on resource drilling which will be completed by August.

The overlaying CID (at surface) is not "high grade" at avg 48% Fe, but probably minable if the price of iron ore keeps up. Because of the CID overlying the higher grade Marra Mamba, it seems like they haven't even drilled to possible full depth "Many of the drillholes failed to penetrate all of the iron formation and, by association, all levels of potential iron mineralisation.". For this area, mineralisation could occur right down much further than current drills - as per other operations in the area. With a potential strike of 5.5km, if it goes down at depth below 50m, could be a very large resource.

Iron Ore prices just announced today as negotiated at 65% increase with Japanese steel mills, from which the Chinese also go off. The future is pretty bright still for Iron Ore, and Talisman with a high cash position looks pretty well placed (and keen) to go forward quickly.

 

[powerkoala]

i was wondering the performance of this sp recently.
compare to other FE players, tlm is going down while others are up, due to increasing price of FE.
any opinion guys regarding recent news ?

 

[Boggo]

I thought that this would have done a runner on the news just out, does'nt seem to be too much interest though even though its up 10%.

Mike

 

[Bushman]

I thought that this would have done a runner on the news just out, does'nt seem to be too much interest though even though its up 10%.

Mike

Having a run today Mike. Manganese news widely reported in WA and has just made it on Minebox. Lets see where it takes us.

I thought the 65% Fe rock chip on EMM was also significant. Should be a positive drill campaign leading up to the maiden Wonmunna NMM JORC later in the year (August 2008).

 

[gfresh]

Assuming it is high grade hematite and goes to depth for the Wonmunna EMM.. A bit of a "ideal case" scenario. I've done a quick estimation calculation, based on the diagram. It is only an pure guestimate, but just putting it out there.

3600 length x 400 width x 40m(?) depth x 2.5sg = 144mT

The 40m is a pure guess, but even at only 20m depth we get 72mT..

And this is only EMM, NMM may well contain somewhere near this, and SMM hasn't even been drilled.

Even though the current SP is optimistic, if the manganese can be substanciated (would Consolidated be interested?), TLM may well be significantly re-rated by next year.

 

[gfresh]

Still plugging away, not much interest, but they seem ever more confident over time. Latest quarterly reports are positive, and worth a read for anybody interested in another Iron Ore junior in the Pilbara.

NMM should have a good resource which will be revealed August-September. Intersections over many km.

SMM now showing hematite mineralisation in initial drilling, and some firmer results expected June..

EMM showing "deep blue-hematite" with a sample of 65% fe content. As above, gives some idea of what could be expected best case.

So within the one tenement they have 3 possible deposits, all with mid-size potential.

I think this will surprise when inititial resource estimates are put out there later this year.

 

[Bushman]

In the AFR today (p22) - manganese has increased in price by 280% in the last 6 months. This has flown under the radar as manganese is not publicly traded like other steel making commodities (ie iron ore, coking coal).

So who has mangabese? There is one operational mine in Australia (Woodie Woodie by ConsMins). However if you go back through TLM (Talisman) recent announcements, you will see that they have found a potential high grade manganese deposit at Waydanya (sp?), 50 km from the Woodie Woodie mine.

So is this a slow burning fuse that will be looking to explode?

Actually this probably also belongs on the TLM thread - I will post there also.

TLM, by the way, went stratospheric late last year before dropping back down to earth in the grips of the bear. It has some Pilbarra iron ore holdings along with Wadaya. At 64 cps, the market cap is low.

(**Note - originally posted on manganese thread**)

 

[ta2693]

The drill result is not impressive at all.
a lot of hole's grade is below 55%. the dust is too much. bad luck.

 

[Bushman]

The drill result is not impressive at all.
a lot of hole's grade is below 55%. the dust is too much. bad luck.

Wait for the JORC in August for this one. Drilling has been continuous now for some months. Not all results will be 100%.

Having said that, I have not jumped on board yet. Bit hard to tell where the project is at.

As I said earlier, I liked to look of the manganese grades at Wadaya but it is a grab sample at the moment so not much to be read into it.

Interesting time for TLM - for those who weren't around, remember Harmanis got on board at a $1! This gives me a sneaking suspicion that the JORC might surprise. But hey it might fizz too