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YML - Yilgarn Mining

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YML's ground is surrounded by the majors. Loation, location, location. Can't wait for their drilling results. Share price still at 28 cents.
DYOR
 
I haven't seen it posted but does anybody know whether its a magnetite or hematite iron ore deposit....I'm imagining its magnetite, just wondering if anyone knew?
 
kgee

whats the difference between the two? and what implications does the difference have?
 
Apparently the ore grades are only average in the scale of things and may only really be ore veins, I hope for everyone whos on this that I'm wrong. Guess we will find out after the hype of the next announcement dies down.

Still sticking to my prediction of a spike after the announcement then return to lower SP once the ann has been digested by the market.
 
I'm no expert but got this info from a mining news article a few weeks back....

Magnetite is not easy stuff to get from here to there (with 'there' defined as China). It is low grade, unlike its ore-cousin haematite it must be processed, and that costs money. Even if Chinese customers say they love the stuff, there is little doubt that they actually love haematite more because over the full commodity price cycle, haematite is the cheaper feedstock for their blast furnaces.

There is an argument that magnetite is the ore of the future because there's so much of the stuff, and precious little high-grade haematite left. On that score, magnetite is a winner – in the same way that laterite nickel was a winner in the great laterite year of 1997.
 
I'd love to do a poll and see how many posters knew the answer to that question
 
If you look at the 1996 drilling tests, they covered quite a large area of the deposit. All holes were around the mark of 60% Fe(Iron). I think the chances of veins in the soon to be announced results is low.
 
kgee said:
I'd love to do a poll and see how many posters knew the answer to that question
Click to expand...

It's haematite ore, below the cut-off grade for most ore buyers, so it would need a beni. process of some type to increase the grade. The drill area all but straddles the BHP rail line. The area was drilled by H.I in the mid 90's before they surrendered the lease as uneconomic for thier operations...... but I guess that most people that have done thier research would already know this..

Cheers..
Kauri
 
Kauri said:
The area was drilled by H.I in the mid 90's before they surrendered the lease as uneconomic for thier operations...... but I guess that most people that have done thier research would already know this..
Click to expand...
Or even bothered to read the entire thread. This stuff keeps being discussed over & over... it's obvious everyone is getting impatient waiting for the announcement that will supposedly send this stock skyrocketing.

m.
 
Before purchasing YML, I would have put in about 6 hours research after reading YT's comments. HI drilled this area in the mid 90s but surrendered the lease. Iron ore prices are now much higher and transport options are now more favourable. This stock has good potential on more than one front as discussed over and over again. Share volumes have picked up of late along with the share price. Surely there must be some serious buying going on.
DYOR
DYOR
 
Hi Marklar I read to about page 8 of this thread and saw no mention of hematite...correct me if I'm wrong but it was just a cursory glance

Hi Kauri thanks for the clarification, I'm surprised not more is been said about it being hematite

enough of playing devils advocate I'm off to the library to get Victor Rudenno's "guide to mining valuation"

have a good one
 
there is definate value in this stock, YT's fundamentals make this fairly clear. Admittedly this has had a run from 20c at start of week to highs of 32.5c..obviously way too high on no results and it was to be expected profit takers would move in...(why didn't I!! ). Still happy, averaging 20c...though will be looking for an early exit (possibly) once the results are out..(how can I learn to speed read!! )
 
I don't intend to panic. Todays turnover has been comparatively very low. Yesterdays was well over 3 million. Leave the emotion out of it. YML's potential hasn't changed. We all like the good days, not so much the bad ones. After 2 days of rises, a pullback was necessary.
DYOR
 
greggy said:
Before purchasing YML, I would have put in about 6 hours research after reading YT's comments.
Click to expand...

Well said greggy. And that's exactly why I won't buy into this just yet. Sure I want to, but without having done my own due diligence, I think it would be purely an emotional purchase for me, which from everything I have read and will probably read, is a set up for failure in trading.

Basically I'm not going to get caught up in the hype. If I miss out I miss out...there will always be other fun rides to enjoy.

I do think I'm learning a fair bit though just from reading this forum and putting my emotions in check.
 
Thanks mate. Sometimes its easier to lose money than to make it. YML had a weak day today, these things do happen, still up nicely for the week thus far.
DYOR
 
hmmm not too sure. there would be quite a few people who have now lost a large amount of money on this one. such a large volume day yesterday and day before at prices well above current sp means one thing, many people will be in the red.

not saying the fundamentals arent there, because they are BUT there will be increased resistance now IMO as ppl will want their money back when sp does rise again.
 
As has been already stated on this forum, a lot of ASF users purchased their YML holdings in the 16-22c range. I purchased mine at 21c. After a strong rise from 20c to 33c, a pullback isn't surprising. THe motto is not to chase stocks. Try to get set in stocks before they run. YML still has strong potential.
DYOR
 
all im stating is that due to such large increases in volumes obviously the majority of recent buyers are in the 24 - 33 cents range. which by the LARGE volume over 30 cents obviously these ppl would be sitting on losses now.

disc: i have been in and out of this stock already, and intend to buy again on more weakness.

the moral here is you can catch a good run, sell and buy again on retracement.
 
with only 80M shares fully diluted say at 26c the company is still only worth $21M
 
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