WYX - Western Yilgarn

[eMark]

Re: IRM - Iron Mountain

Well the stock finished down 30% for the day at 0.425; but seemed to hang around the 0.45c mark for the most part, before falling 0.03c right at the close (some nervous trading no doubt). Any call on what might happen for this stock for the rest of the week?

So it's all over red rover re commentary on this stock? Guess the other day was pretty exhaustive! Traded within a tight range today. Also NAB has upgraded their iron ore forecasts.

 

[eMark]

Re: IRM - Iron Mountain

Nice recovery.

Last Trade: 0.415 AUD
Trade Time: 4:10PM AEST
Change: +0.050 (13.70%)
Prev Close: 0.365
Open: 0.365
Bid: 0.410
Ask: 0.415

 

[wipz]

Re: IRM - Iron Mountain

Also NAB has upgraded their iron ore forecasts.

I am very curious to know what NAB has to say about iron ore in the future, can you please share with the rest of us?
Cheers.

 

[eMark]

Re: IRM - Iron Mountain

I am very curious to know what NAB has to say about iron ore in the future, can you please share with the rest of us?
Cheers.

No worries. Enjoy!

NAB Latest To Lift Iron Ore Forecasts
FN Arena News - October 10 2007

By Chris Shaw

National Australia Bank is the latest but likely won’t be the last to lift iron ore price forecasts, the group now expecting benchmark lump ore prices will increase by 15% in Japanese financial year (JFY) 2008.

Minerals and energy economist Gerard Burg notes in the bank’s “Iron and Steel Outlook - October 2007” report there is upside risk to the bank’s new forecast of US119.9c per long ton unit, particularly as BHP Billiton (BHP) has indicated it will attempt to lock in a price premium to account for lower freight costs for Australian ore relative to supply from Brazil.

In part the expected increase is the result of lower Indian spot exports, which follows the imposition of an export tax in March. The other supporting factor is that supply constraints globally have yet to ease and in Burg’s view are unlikely to do so until sometime in 2009 at the earliest.

One flow through effect Burg sees as likely is higher price pressures in the steel market, as the higher iron ore prices are coming at the same time as coal costs are increasing. On Burg’s numbers hard coking coal prices should increase by 17.5% this year while semi-soft prices should increase by 20%.

He expects steel mills will need to pass some of these increases on to customers, so how well customers deal with price increases is likely to impact on production levels in North America and Europe in particular. Burg expects hot rolled coil prices in North America will increase by a little over 5% in 2008 to an average of US$644 per tonne. This should prove a peak, as he expects prices to ease in 2009 to an average of US$600 per tonne.

Helping lift prices next year will be ongoing strength of demand for steel, Burg estimating global steel consumption in 2008 will increase by 5% to 1.36 billion tonnes, with China and India leading the way in accounting for 40% of global consumption.

China is also leading the way in terms of global production, with output forecast to increase by 10% to 540 million tonnes in 2008, underpinning the bank’s forecast of a 5.6% increase in total world production to 1.4 billion tonnes. Outside of China the bank sees world steel production growing by a more modest 2.9%.

 

[eMark]

Re: IRM - Iron Mountain

Beware of pump and dump people.

Can someone explain what this means exactly? Today saw the share price move up to 0.455 very quickly, and come back down to 0.41 just as quick. But what I noticed in the BUYS were 400,000 and 200,000 buys a few cents below the current price (holding the SP up?), and then they evaporated, without being filled (as far as I'm aware). Is this the pump and dump..........build it up, and and then smack it down?

Todays announcement also...

Iron Mountain Mining Releases Project Update: Drilling at Mount Richardson WA
Monday October 29, 2007, 12:10 pm

Original Announcement: Project Update Drilling at Mount Richardson WA

Iron Mountain Mining released a project update in relation to drilling at Mount Richardson, WA. A Ground Disturbance Application has been approved for Mt. Alfred and Iron Mountain Prospects, a Scout RAB drilling programme was commenced on 21 October 2007 and a Ground Disturbance Application has been lodged for Brooking Hills Prospect.

 

[zt3000]

Re: IRM - Iron Mountain

Close of 49.5c today ... not a bad effort considering the general market conditions today ... no idea why up ~ 20% ... any ideas?

 

[zt3000]

Re: IRM - Iron Mountain

LoL ... announcement after close, just noticed dated 29th october .. 1 month ago and then signed yesterdays date ...

hrmmm ???????????? was that deliberate to head of a speeding ticket?

 

[eMark]

Re: IRM - Iron Mountain

LoL ... announcement after close, just noticed dated 29th october .. 1 month ago and then signed yesterdays date ...

hrmmm ???????????? was that deliberate to head of a speeding ticket?

It appears that the scout RAB (rotary air blast) drilling programme at the Mount Richardson iron project that commenced on October 21, has now been completed as of November 16 2007. Initial results are expected soon (?)

It explains the increase in the share price on Friday. Although the announcemnet did not come out until after close, some people obviously knew about it.

The date on the announcement appears incorrect, as the date 16 November 2007 is printed at the bottom.

 

[louisapple]

Re: IRM - Iron Mountain

rough day good news but price drop how come? undervalue stock cheer up.
all iron producer are in low price due to un sure external environment effect. for a long run ,it must be good one

 

[Hakkers14]

Re: IRM - Iron Mountain

Can anyone share their thoughts on the announcement today?? Not quite sure what to make of it - a fair few intersections of >60% fe fairly well spaced throught the mt alfred and iron mountain prospects. Share price down significantly though. Obviously below mkt expectations, but any thoughts as to how good the results are?

 

[enigmatic]

Re: IRM - Iron Mountain

Been hearing a little about IRM so wanted to check it out. seems like it had a good run in Oct but since then has been falling off even though some good intersections of 60%+ FE. Does anyone have any reason behind the drop in sp and the considerable lack of buy interest.

 

[doogie_goes_off]

Re: IRM - Iron Mountain

The best intersections are in holes 34 and 35 which have grade and width, the zone of open intersections around this is only ~300m long as opposed to the huge length of the touted targets. The discontinous/narrow nature of targets was dissapointing for some, but not those of us who ignored the rock chips which can be very selective. Even if the zone of interest currenlty identified was 300m long x 10m avg thickness x 300 m down the dip of the layer x density of 4, then you would only have a 3.5Mt resource @ ~55%, that's a pretty small target at this stage, but deeper drilling may prove more fruitful, but ofcourse then you have to get down there to get it out.

Hope that helps.

 

[sandybeachs]

Mt Richardson Iron ore

don't write IRM off at this point, plenty of good news ahead.

1) Mt Richardson see attached map. i've indicated where they are currently RC drilling also GREEN spray shows areas in which they have tested.

in real terms they have only just scracthed the surface of this tenement.

2) we should have some details about recent areomagnetic over Miaree/Wongan Hills tenements possible 1~2 billion tonnes.

Jan just might be a ripper, just as long as the market is also on song.

Mt Richardson see attached map, two area currenlt being RC drilled Mt Alfred & Iron Mountain. note plenty of BIF's that haven't been tested yet.

 

[BIG BWACULL]

Re: IRM - Iron Mountain

IRM appear to be makin a dash today up 31% to 31.5c not much volume Though
330,190, maybe there is some more rock chip samples :

 

[metal guru]

Re: IRM - Iron Mountain

this was posted on a UK Bulletin Board...

were you aware that Callum Baxter & Paul Askins (2 largest independent shareholders in IRM) hold the title to Iron Mountain tenement and also run Greatland Gold (Ticker AIM: GGP) which is part of Red Rock/Regency Stable (RRR/RGM also on AIM).

Red Rock owns Tenement abutting IRM & MDX
Red Rock also sold Mount Ida & Mt Hope to Jupiter Mines.

IRM results are having a knock on effect and it prime for some consolidation in the not too distant future...

http://www.rrrplc.com/
http://greatlandgold.com/
http://www.regency-mines.com/





.................................................

There’s some interesting stuff going on with Red Rock in the Yilgarn. They are building a stake in Mindax and its just emerged that Callum Baxter & Paul Askins (directors of GGP - RRR chairman is also chairman of GGP) own abutting AXS listed IRM tenement in Yilgarn and are also major shareholders.

It looks like Red Rock are lining up the whole area as a multi million ton Iron Ore resource "parcel" for consolidation.

who would be interested??

Mt Alfred and abutting tenements are very prospective for haematite (highest possible grade Iron Ore) and the RRR move on Mindax, plus cosy arrangements with IRM, Jupiter Mines are also on side.....this would be a true Multi million ton world class resource.

Portman also own 3 abutting tenements and are 80% owned by US giant Cleveland Cliffs (Cleveland paid US$500m 2 years ago).

Portman currently direct ship 8m tons of iron ore p/y to China. It is no secret that their resources are starting to run dangerously low.

The point I am making is that at some time soon there will be an aggressive drive for resources - maybe Portman, maybe someone else, but its about being in the right place at the right time…..

If the share price goes on a run for no apparent reason – it will be because the Aussies have woken up to what’s happening here.

 

[Mr Peaman]

Re: IRM - Iron Mountain

Anyone know when the Results are due out for Mount Richardson? i'm thinking that this may be a good entry price as the results are in the lab...

 

[tigerboi]

Re: IRM - Iron Mountain

Strange 3 months not a word here,in the last week this has leapt 90% & not even the punter on it in the comp(now getting bashed up by mxr,how do you feel sailing along at 90%+ then crash bang wallop)has said a word...tb

 

[YOUNG_TRADER]

Re: IRM - Iron Mountain

Interesting,

With all the developments over at JMS recently re Red Rock Pallinghurst etc etc and MDX a few months ago I have been wondering when if ever they would make their move on IRM

Given it completes the Central Yilgarn Trifecta for Red Rock

The stock has been ticking up on volume lately, I wonder who has been buying?

I jumped on board today after watching it for a few days,

DYOR could be another one to get swept up by the consolidation play

 

[YOUNG_TRADER]

Re: IRM - Iron Mountain

Grabbing a few more of these and will continue to buy on weakness as I believe its now a 3 play stock

1. Red Rock consolidation potential for their small Fe deposit near Mt Ida/Mason (ie JMS/MDX/IRM/RR)

2. Massive Magnetite potential (1Bt's-3Bt's according to JV parnter RVR)

3. Magnetite deposit in Tasmania at the Blythe prospect next to an existing mine (VMS has had similar success in Tas and just compare mkt caps)


DYOR I'm trawling the ASX for bargains

 

[Seda]

Re: IRM - Iron Mountain

this was posted on a UK Bulletin Board...

were you aware that Callum Baxter & Paul Askins (2 largest independent shareholders in IRM) hold the title to Iron Mountain tenement and also run Greatland Gold (Ticker AIM: GGP) which is part of Red Rock/Regency Stable (RRR/RGM also on AIM).

Red Rock owns Tenement abutting IRM & MDX
Red Rock also sold Mount Ida & Mt Hope to Jupiter Mines.

IRM results are having a knock on effect and it prime for some consolidation in the not too distant future...

http://www.rrrplc.com/
http://greatlandgold.com/
http://www.regency-mines.com/





.................................................

There’s some interesting stuff going on with Red Rock in the Yilgarn. They are building a stake in Mindax and its just emerged that Callum Baxter & Paul Askins (directors of GGP - RRR chairman is also chairman of GGP) own abutting AXS listed IRM tenement in Yilgarn and are also major shareholders.

It looks like Red Rock are lining up the whole area as a multi million ton Iron Ore resource "parcel" for consolidation.

who would be interested??

Mt Alfred and abutting tenements are very prospective for haematite (highest possible grade Iron Ore) and the RRR move on Mindax, plus cosy arrangements with IRM, Jupiter Mines are also on side.....this would be a true Multi million ton world class resource.

Portman also own 3 abutting tenements and are 80% owned by US giant Cleveland Cliffs (Cleveland paid US$500m 2 years ago).

Portman currently direct ship 8m tons of iron ore p/y to China. It is no secret that their resources are starting to run dangerously low.

The point I am making is that at some time soon there will be an aggressive drive for resources - maybe Portman, maybe someone else, but its about being in the right place at the right time…..

If the share price goes on a run for no apparent reason – it will be because the Aussies have woken up to what’s happening here.

Great prediction back in January....I hope you have some stock in IRM.

Obviously I am eagerly awaiting tomorrow's annoucement. Does anyone have any idea what this could mean to the price of IRM?