WYX - Western Yilgarn

[yogi-in-oz]

Hi folks,

IRM ... yet another IPO, that may be worth observing from the sidelines,
until around 02 July 2007, when the first positive time cycle should
come into play for this stock ...

happy days

paul

 

[Wysiwyg]

Re: IRM - Iron Mountain

I was posted a prospectus when I did not request it .

I have never been sent a prospectus without applying for one.

The issue price was 20c and they are now 15.5c.

I suppose I`ll not get to see the monkeys face that sent them out.Strange how they aren`t doing so well when most other IPOs have done so well.

No I didn`t take the set up.:behead: To the monkey on my back.

 

[YOUNG_TRADER]

Re: IRM - Iron Mountain

I was posted a prospectus when I did not request it .

I have never been sent a prospectus without applying for one.

The issue price was 20c and they are now 15.5c.

I suppose I`ll not get to see the monkeys face that sent them out.Strange how they aren`t doing so well when most other IPOs have done so well.

No I didn`t take the set up.:behead: To the monkey on my back.

This is the exact reason why I stayed away from IRM, they posted a prospectus to my parents who rang me for advice, my father owns shares in AMP and my mother Coles, why on earth would you post them a prospectus, it was very underhanded if you ask me and as my parents know very little about stocks they thought it to be the next RIO of Commodity stocks,

Anyway, not too much I see interesting over here,

But what do I know,

Good luck to all

 

[BlingBling]

Re: IRM - Iron Mountain

I was also sent a letter from them offering me a part in the float. I thought it was really strange given the current market situation & them trying to round up investors that way. Needless to say, I didn't jump in!

 

[surfingman]

Re: IRM - Iron Mountain

This is the exact reason why I stayed away from IRM, they posted a prospectus to my parents who rang me for advice, my father owns shares in AMP and my mother Coles, why on earth would you post them a prospectus, it was very underhanded if you ask me and as my parents know very little about stocks they thought it to be the next RIO of Commodity stocks,

Anyway, not too much I see interesting over here,

But what do I know,

Good luck to all

That surprises / worries me a little Young Tader that you are not interested with the current Iron Ore demand, Could sending prospectus to a list be the work of their sponsoring broker of the IPO?

Also you were/are a holder of RVR which has a close link with IRM.

IRM / RVR Joint Venture, Tasmania Iron ore project which has been aero magnetic surveyed recently and results will be released to market in the very near term. The second link to RVR:

DAVID ALAN ZOHAR
Director and Company Secretary
He has been active in the exploration industry for over 20 years. He has been a director and/or CEO of a number of exploration companies and has also negotiated numerous agreements with various companies and other participants within the mining industry. He has been involved in the formation and/or listing on the ASX of several public mining companies and is currently a director of ASX listed Red River Resources Limited and Uranium Oil and Gas Limited.

Their various tenement holdings around WA which are close to some companies of interest (FWL, JMS, MGX) with the Mount Richardson mine having aero magnetic survey completed very shortly and a team of field workers visiting as we speak, with 1 and possibly 2 new land holdings not released to market as yet. I done a little research last week, I got some options because of the expiry date (feb 2012) / directors / and projects currently on hand.

 

[UPKA]

Re: IRM - Iron Mountain

I think the market is more interested in near term producers. IRM is still a junior explorer, so it may be a while be4 it takes off. I think Mick might post his view here when hes ready.

 

[mick2006]

Re: IRM - Iron Mountain

Hey Guys at the same time I was looking around iron ore juniors and found POL, I also came across the recently listed IRM, has some really exciting exploration plays in iron ore, copper, gold, manganese.

When considering investing in IRM remember it is very much a junior iron ore play that is currently sampling tennements to define drill targets, so it will be a couple of months before drilling begins. But saying that often the better investments are when you get in at the ground floor.
Remember DYOR!!


Very well funded with the IPO raising $8million for exploration of some possibly huge iron ore tennements.

Very much under the radar listed just before the focus shifted to iron ore.

Excellent website, with a video presentation outlining the companies vast array of projects.



Capital Structure.

Shares 67,200,003
Options 40,725,000

Undiluted Market Cap $12,768,000


Some of the reasons to hold IRM

-Very well funded $8 million cash
-Not that many shares on issue
-grassroots explorer yet to be discovered by the broader market
-Already sampling projects, with drilling to follow
-All projects close to major infrastructure
-Major projects near tennements owned by companies such as RIO,MGX,PMM,FWL,JMS,CFE
-Already had success in current round of sampling (see announcements below)
-Massive targets Miaree Project has the potential for a Magnetite Deposit of 1.5-2 billion tonnes.


Miaree Project


HAEMATITE ENRICHMENTS IDENTIFIED ON MIAREE
MAGNETITE TREND, KARRATHA REGION, WESTERN
AUSTRALIA.
IRON MOUNTAIN TO PROCEED WITH JOINT VENTURE
• High-grade results including assays up to 61.6% Fe from surface rock chip sampling on the Miaree Magnetite Trend.
• Several zones of haematite enrichment.
• Iron Mountain Mining Limited to proceed with JV covering the Miaree Magnetite Trend.
Iron Mountain Mining Limited (ASX: IRM – “Iron Mountain”) is pleased to announce preliminary surface rock chip sampling, carried out during late May in the Miaree Project area on haematitic iron enrichments within the Cleaverville Formation.
The sampling was carried out by Red River Resources Limited (ASX: RVR.-.Red River Resources) prior to the announcement of the Heads of Agreement between Red River Resources and Iron Mountain Mining covering work on the Miaree Magnetite
Trend near Karratha.The enrichments are located adjacent to the North West Coastal Highway and carry values of up to 61.6% Fe. To the North East the Cleaverville Formation hosts the Cape Lambert Magnetite resource while the Balmoral magnetite project lies a short distance to the south west.




IRON ORE EXPLORATION JOINT VENTURE WITH IRON MOUNTAIN MINING LIMITED
• Agreement for Iron Mountain Mining Limited to earn up to 70% of iron ore rights at two Red River project areas in Western Australia.
• Exploration targets include large-scale magnetite deposits at Miaree, near the Cape Lambert magnetite deposit, and hematite at Wongan Hills.
• Joint Venture consistent with Red River’s focus on its Feral Hematite Prospect in the Mid West region of WA.
Red River Resources Limited (ASX: RVR – “Red River Resources”) is pleased to announce that it has reached agreement with Iron Mountain Mining Limited (“Iron Mountain”) to farm into the iron ore exploration rights at two of Red River’s Western Australian projects.
Under a Heads of Agreement between the companies, Iron Mountain can carry out exploration for iron ore at Red River Resources’ tenements in the following regions of Western Australia:
• the Miaree Magnetite Trend in the Karratha area, Pilbara region; and
• the Wongan Hills Project, located 130 kilometres north-east of Perth in the Mid West region.
Under the terms of the HOA, Iron Mountain can earn up to 70% of the iron ore rights over these tenements for a total expenditure of $4.75 million.
Subject to completion of due diligence and execution of an exclusive option to enter into the Joint Venture, the agreement would enable iron ore exploration within these areas to be significantly accelerated. The Joint Venture is consistent with Red River’s focus on its Feral Hematite Prospect in the Mid West region, where it is preparing to commence drilling later this year.
MIAREE
The Miaree Magnetite Trend lies within the Kaninda East (EL47/1309) and Kaninda West (EL/08/1350) Exploration Licences (see Figure 1). The tenements comprise approximately 30 kilometres strike length of Cleaverville Formation, a magnetite-rich geological unit which also hosts the Cape Lambert magnetite deposit, located approximately 60 kilometres to the east. Significantly, the aeromagnetic field strength at Miaree is similar to that at Cape Lambert.
Published magnetite grades at Cape Lambert are in the range of 40-45% and, based on the geophysical similarity, potential magnetite grades over the Miaree Magnetite Trend are inferred to be at similar levels. An aeromagnetic map of the eastern part of the Miaree Magnetite Trend is displayed in Figure 2.
Modelling of the aeromagnetic data suggests that the Miaree Magnetite Trend hosts mineralised widths of up to 200 metres (see Figure 3). Conceptually, the exploration target for the Miaree Magnetite Trend is 1.5-2 billion tonnes of magnetite-bearing rock grading on average 40-45% magnetite, based on the following parameters:

Strike length
30,000 metres
Average width
100 metres
Mineable depth
200 metres
Bulk density
3
Magnetite grade
40-45%



BLYTHE RIVER PROJECT

The company’s main project, the Blythe River Project, is located near Natone approximately 10km from the deep water port of Burnie in Tasmania. Previous exploration for iron and copper on the Company’s tenements has identified potentially economic
magnetite and haematite mineralisation. The company has entered into a joint venture with Red River Resources Limited, an ASX listed company, to explore this project.

MT RICHARDSON PROJECT

This tenement is located close to Jupiter Mines Ltd’s Mt Mason and Mt Ida projects. The tenement contains known mineralisation for iron and copper. The project area encompasses several ironrich
banded iron formations offering a large prospective target area. Samples of high-grade haematite up to 67% Fe have been recovered. The geological setting also suggests that the tenement is prospective for gold. Systematic testing of structural
targets is planned.


BONA WELL PROJECT

The project is located approximately midway between Mt Gibson Iron Ltd’s Wolla Wolla project and Ferrowest Ltd’s Yogi project. Geological mapping and aeromagnetic imagery of the project area show prospective banded iron formations of up to 7km of
strike. Thrust faulting which has resulted in multiple, sub parallel banded iron formations is a further indication of prospectivity for iron mineralisation. The project is an early stage exploration opportunity to explore for iron ore in an easily accessible and
favourably located area.


WINDARLING EAST PROJECT

Exploration of this tenement, once granted, will focus on the banded iron formations in the Jackson Greenstone belt which elsewhere hosts economic iron deposits. Geological mapping of the project area and aeromagnetic data indicate the possibility of multiple banded iron formations within the tenement covering
up to 5km of strike. The project is located approximately 20km to the east of the haul road linking Portman Mining Ltd’s Windarling resource to its Koolyanobbing plant site.

KUNANALLING PROJECT

Aeromagnetics and Landsat imagery of the project area indicate the possibility of up to a 20km of strike of banded iron formations.
This project is an early stage exploration opportunity to explore for iron ore.


WYLOO PROJECT

This tenement partly covers the Boolgeeda Iron Formation, the uppermost unit of the Hamersley Group and is surrounded by a number of major iron ore projects in the Pilbara region of Western Australia.

Would be interested to hear peoples thoughts!!

 

[greggy]

Re: IRM - Iron Mountain

Hey Guys at the same time I was looking around iron ore juniors and found POL, I also came across the recently listed IRM, has some really exciting exploration plays in iron ore, copper, gold, manganese.

When considering investing in IRM remember it is very much a junior iron ore play that is currently sampling tennements to define drill targets, so it will be a couple of months before drilling begins. But saying that often the better investments are when you get in at the ground floor.
Remember DYOR!!


Very well funded with the IPO raising $8million for exploration of some possibly huge iron ore tennements.

Very much under the radar listed just before the focus shifted to iron ore.

Excellent website, with a video presentation outlining the companies vast array of projects.



Capital Structure.

Shares 67,200,003
Options 40,725,000

Undiluted Market Cap $12,768,000


Some of the reasons to hold IRM

-Very well funded $8 million cash
-Not that many shares on issue
-grassroots explorer yet to be discovered by the broader market
-Already sampling projects, with drilling to follow
-All projects close to major infrastructure
-Major projects near tennements owned by companies such as RIO,MGX,PMM,FWL,JMS,CFE
-Already had success in current round of sampling (see announcements below)
-Massive targets Miaree Project has the potential for a Magnetite Deposit of 1.5-2 billion tonnes.


Miaree Project


HAEMATITE ENRICHMENTS IDENTIFIED ON MIAREE
MAGNETITE TREND, KARRATHA REGION, WESTERN
AUSTRALIA.
IRON MOUNTAIN TO PROCEED WITH JOINT VENTURE
• High-grade results including assays up to 61.6% Fe from surface rock chip sampling on the Miaree Magnetite Trend.
• Several zones of haematite enrichment.
• Iron Mountain Mining Limited to proceed with JV covering the Miaree Magnetite Trend.
Iron Mountain Mining Limited (ASX: IRM – “Iron Mountain”) is pleased to announce preliminary surface rock chip sampling, carried out during late May in the Miaree Project area on haematitic iron enrichments within the Cleaverville Formation.
The sampling was carried out by Red River Resources Limited (ASX: RVR.-.Red River Resources) prior to the announcement of the Heads of Agreement between Red River Resources and Iron Mountain Mining covering work on the Miaree Magnetite
Trend near Karratha.The enrichments are located adjacent to the North West Coastal Highway and carry values of up to 61.6% Fe. To the North East the Cleaverville Formation hosts the Cape Lambert Magnetite resource while the Balmoral magnetite project lies a short distance to the south west.




IRON ORE EXPLORATION JOINT VENTURE WITH IRON MOUNTAIN MINING LIMITED
• Agreement for Iron Mountain Mining Limited to earn up to 70% of iron ore rights at two Red River project areas in Western Australia.
• Exploration targets include large-scale magnetite deposits at Miaree, near the Cape Lambert magnetite deposit, and hematite at Wongan Hills.
• Joint Venture consistent with Red River’s focus on its Feral Hematite Prospect in the Mid West region of WA.
Red River Resources Limited (ASX: RVR – “Red River Resources”) is pleased to announce that it has reached agreement with Iron Mountain Mining Limited (“Iron Mountain”) to farm into the iron ore exploration rights at two of Red River’s Western Australian projects.
Under a Heads of Agreement between the companies, Iron Mountain can carry out exploration for iron ore at Red River Resources’ tenements in the following regions of Western Australia:
• the Miaree Magnetite Trend in the Karratha area, Pilbara region; and
• the Wongan Hills Project, located 130 kilometres north-east of Perth in the Mid West region.
Under the terms of the HOA, Iron Mountain can earn up to 70% of the iron ore rights over these tenements for a total expenditure of $4.75 million.
Subject to completion of due diligence and execution of an exclusive option to enter into the Joint Venture, the agreement would enable iron ore exploration within these areas to be significantly accelerated. The Joint Venture is consistent with Red River’s focus on its Feral Hematite Prospect in the Mid West region, where it is preparing to commence drilling later this year.
MIAREE
The Miaree Magnetite Trend lies within the Kaninda East (EL47/1309) and Kaninda West (EL/08/1350) Exploration Licences (see Figure 1). The tenements comprise approximately 30 kilometres strike length of Cleaverville Formation, a magnetite-rich geological unit which also hosts the Cape Lambert magnetite deposit, located approximately 60 kilometres to the east. Significantly, the aeromagnetic field strength at Miaree is similar to that at Cape Lambert.
Published magnetite grades at Cape Lambert are in the range of 40-45% and, based on the geophysical similarity, potential magnetite grades over the Miaree Magnetite Trend are inferred to be at similar levels. An aeromagnetic map of the eastern part of the Miaree Magnetite Trend is displayed in Figure 2.
Modelling of the aeromagnetic data suggests that the Miaree Magnetite Trend hosts mineralised widths of up to 200 metres (see Figure 3). Conceptually, the exploration target for the Miaree Magnetite Trend is 1.5-2 billion tonnes of magnetite-bearing rock grading on average 40-45% magnetite, based on the following parameters:

Strike length
30,000 metres
Average width
100 metres
Mineable depth
200 metres
Bulk density
3
Magnetite grade
40-45%



BLYTHE RIVER PROJECT

The company’s main project, the Blythe River Project, is located near Natone approximately 10km from the deep water port of Burnie in Tasmania. Previous exploration for iron and copper on the Company’s tenements has identified potentially economic
magnetite and haematite mineralisation. The company has entered into a joint venture with Red River Resources Limited, an ASX listed company, to explore this project.

MT RICHARDSON PROJECT

This tenement is located close to Jupiter Mines Ltd’s Mt Mason and Mt Ida projects. The tenement contains known mineralisation for iron and copper. The project area encompasses several ironrich
banded iron formations offering a large prospective target area. Samples of high-grade haematite up to 67% Fe have been recovered. The geological setting also suggests that the tenement is prospective for gold. Systematic testing of structural
targets is planned.


BONA WELL PROJECT

The project is located approximately midway between Mt Gibson Iron Ltd’s Wolla Wolla project and Ferrowest Ltd’s Yogi project. Geological mapping and aeromagnetic imagery of the project area show prospective banded iron formations of up to 7km of
strike. Thrust faulting which has resulted in multiple, sub parallel banded iron formations is a further indication of prospectivity for iron mineralisation. The project is an early stage exploration opportunity to explore for iron ore in an easily accessible and
favourably located area.


WINDARLING EAST PROJECT

Exploration of this tenement, once granted, will focus on the banded iron formations in the Jackson Greenstone belt which elsewhere hosts economic iron deposits. Geological mapping of the project area and aeromagnetic data indicate the possibility of multiple banded iron formations within the tenement covering
up to 5km of strike. The project is located approximately 20km to the east of the haul road linking Portman Mining Ltd’s Windarling resource to its Koolyanobbing plant site.

KUNANALLING PROJECT

Aeromagnetics and Landsat imagery of the project area indicate the possibility of up to a 20km of strike of banded iron formations.
This project is an early stage exploration opportunity to explore for iron ore.


WYLOO PROJECT

This tenement partly covers the Boolgeeda Iron Formation, the uppermost unit of the Hamersley Group and is surrounded by a number of major iron ore projects in the Pilbara region of Western Australia.

Would be interested to hear peoples thoughts!!

Hi Mick,

Thanks for providing all this information. You put a lot of work into it and I fully appreciate your efforts.

On the weekend I was looking around for an overlooked iron ore stock having missed out on buying both FWL (one of YT's great tips) and POL (one of yours). Hence, I came across IRM. Looking through its prospectus they were seeking a minimum $2.5 million, but got $8 million instead. They could have got more should they have wanted to.
$8 million equates roughly to about 12 cents per share cash. This means that over half its current share price is covered by cash, not often seen in today's climate.
It is an iron ore focussed stock in a sector that is starting to run hot. Many people I know are switching out of uranium and moving into iron ore. IRM has multiple interesting prospects in sound locations.
The board is very experienced. Its website for a junior explorer is excellent as its extremely informative.
Today I bought 150,000 IRM shares and 100,000 options. The options expire in 2012 which is a long way away. IMO IRM is arguably one of the cheapest iron ore specs going around at current market cap.
Its shares had a good day today rising 2.5 cents to 19c on turnover of over 1 million and the options up 1.7 cents to 9c.
DYOR

 

[mick2006]

Re: IRM - Iron Mountain

with the current huge amount of funds flowing into the iron ore sector, along with the long term price outlook it comes as no surprise that the market is finally having a closer look at IRM.

Yes it is a very speculative stock, and is only in the sampling stage before commencing drilling later in the year, but their timing is perfect by the time they start releasing drill results the focus will be firmly on the iron ore sector again due to the yearly price setting discussions.

Judging by the increase in volume we might be seeing the first signs of interest in IRM.

Below is a snippet from mining news tonight confirming the positive views for iron ore going forward.

Analysts are tipping another strong year in 2008 for iron ore, with a Citigroup report forecasting 20% growth in the price of the commodity on the back of continued strong Chinese demand.

The most conservative analysts from Merrill Lynch were tipping a 9.5% price rise for the next year.

 

[motion]

Re: IRM - Iron Mountain

G'day,

Some excellent points here Mick. Thank you again for brining this to our attention I look forward to this stock growing...

Mick is correct this is a speculative stock, but it’s got some good management and great timing behind it so who knows where this can.

with the current huge amount of funds flowing into the iron ore sector, along with the long term price outlook it comes as no surprise that the market is finally having a closer look at IRM.

Yes it is a very speculative stock, and is only in the sampling stage before commencing drilling later in the year, but their timing is perfect by the time they start releasing drill results the focus will be firmly on the iron ore sector again due to the yearly price setting discussions.

Judging by the increase in volume we might be seeing the first signs of interest in IRM.

Below is a snippet from mining news tonight confirming the positive views for iron ore going forward.

Analysts are tipping another strong year in 2008 for iron ore, with a Citigroup report forecasting 20% growth in the price of the commodity on the back of continued strong Chinese demand.

The most conservative analysts from Merrill Lynch were tipping a 9.5% price rise for the next year.

 

[countryboy]

Re: IRM - Iron Mountain

IRM is one that i have been looking at along with PSP. both are pushing up at present due to i believe a flow of funds looking for the next round of Iron ore plays. i don't hold a position in either. As a few have mentioned they have been looking around at Iron ore explorers ......another area with resources in iron ore is SA around Whyalla Anyone know of explorers in this area?I have seen one

Hold FWL ADY in iron ore

 

[Spaghetti]

Re: IRM - Iron Mountain

Will be interesting to see if yogi-in-oz is on the money

Almost July and a positive cycle for Iron Mountain.

 

[surfingman]

Re: IRM - Iron Mountain

IRM is moving today, options up 33% and Shares 23% I only got my order half filled!!!

Blue sky share price and Volume, good luck on this one, not sure why its running so quick except for ASFers...

 

[motion]

Re: IRM - Iron Mountain

Trading halt until friday... well I wounder what news is coming out... some very big buys this morning must have inside information....

Any wanna comment ?

 

[wildmanchris]

Re: IRM - Iron Mountain

Trading Halt - I had an order to buy these guys at $0.16 and cancelled it a week ago.

Bet ya it's good news knowing my luck!!!

 

[surfingman]

Re: IRM - Iron Mountain

Trading Halt - I had an order to buy these guys at $0.16 and cancelled it a week ago.

Bet ya it's good news knowing my luck!!!

Possibly a release of new property/s they have attained or the release of aero-magnetic results from Tasmania. I don't know for sure but i know that it could be either of these.

 

[mick2006]

Re: IRM - Iron Mountain

Looking at the wording of the response of the asx price query, it is either the results of the magnetic survey or hopefully some more very encouraging rock chip sampling.

In the current environment if they were to have some more hits at >60% Fe, this could go even higher

 

[mobcat]

Re: IRM - Iron Mountain

Thanks for the heads up on this one guys was fortunate enough to pick up a nice size parcel on opening this morning looks to be worth the effort atm the ann will tell a story of pure pleasure for all holders i fell as we all probally allready no you wouldnt put a TH on a negative ann would ya food for thought

 

[greggy]

Re: IRM - Iron Mountain

Thanks for the heads up on this one guys was fortunate enough to pick up a nice size parcel on opening this morning looks to be worth the effort atm the ann will tell a story of pure pleasure for all holders i fell as we all probally allready no you wouldnt put a TH on a negative ann would ya food for thought

I re-read Mick's informative post again today. I noticed in particular "..Conceptually, the exploration target for the Miaree Magnetite Trend is 1.5-2 billion tonnes of magnetite-bearing rock grading on average 40-45% magnetite.." That's a huge figure. IMO, although very early days, this highlights the company strong potential and is one of a number of interesting projects. IRM's projects are all in good locations.
According to IRM's response to the ASX Query, they are preparing an announcement detailing the company's recent exploration activities. Hopefully, there will be some positive news coming through shortly. Good timing considering that iron ore has become the hottest sector around at present. IRM finished up 3 cents to 22 cents for the day on solid turnover of over 1.5 million shares before the trading halt. The options went up 3 cents to 12 cents. IMO IRM is in a bullish uptrend as it reached a new record high today in a bleak market. Other iron ore specs that I looked at didn't do too badly either.
Thanks once again Mick.
Any thoughts from any chartists out there in relation to where IRM might go from here?
DYOR

 

[alankew]

Re: IRM - Iron Mountain

Mick public thanks for highlighting this.I was already on it via the IPO and was dissapointed with its debut and think that its underperformance has put this off peoples radar however if you had been on this on day one you may have noticed several bids for reasonably large parcels(100k)go through.Didnt affect the price as there were too many disspaointed punters willing to get out at any cost near to 20c and and also there was plenty of stock available as the top 20 only hold 40% which has all helped to keep the price down.One week too soon for me Mick but did manage to top up prior to TH-actually tried to buy double what i bought but got cold feet