YML - Yilgarn Mining

[Snakey]

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.

wise words dj

 

[nioka]

poor choice of words

MB

Yes. Reminds me of the story of the lady who sent this telegram to her husband, " Not getting any better. Come home". In the translation it became," Not getting any. Better come home."

 

[gringokonyo]

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, are you sure the drill area in Marillana adjoins the BHP line? The maps on the AGM presentation show HI drill results for a very small triangular section bounded by BHP's tenement on one side and a zone set aside for a future railway (looks like the one to FMG, and perhaps the one they don't want to build and instead use BHP's line), but it's not the existing BHP line that is several kilometres away toward the middle of the tenement. The area drilled by HI only appears to account for about 5% of YML's total tenement. YML have indicated in a mid December ASX announcement that they plan to drill in the zone set aside for the future railway once they're given approval. This zone has not been previously assayed.
YML also give an example of haematite in their AGM presentation so as you've pointed out, they know what they're digging up.

I'm not sure if YML are trying to confirm the whole of HI's previous drilling results. They seem to be focussing on an area 2km x 500 which is likely to show about 55m tonnes (2,000x500x14 average depthx 4 tonnes pm3 @ 59.3% FE).

 

[YOUNG_TRADER]

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 magnetite ores are deposits that grade 30% Fe

Hematite Ores are traditionally 60%Fe+ deposits, but given the increase in Spot Iron Ore price, I reckon 50% Fe deposits would qualify, they would just need more benefication to make it shipable to China

Ideally High Grade 65% Fe Ore is perfect as its DSO, Direct Shipping Operation, ie dig it up, put it on truck/rail/ get it to ship and ship it thats it, no chemicals/ore blending etc etc

 

[YOUNG_TRADER]

I'm off to the library to get Victor Rudenno's "guide to mining valuation"

have a good one

Hey I recommened that book to you ages ago and your only now going to get it?????

To all those interested in learning its a great book!

 

[YOUNG_TRADER]

THe motto is not to chase stocks. Try to get set in stocks before they run.

As much as the stock ran I can't believe what people were prepared to pay for the options

Remember they're 25c opies so at an SP (Share Price) of 25.5c they're worth 0.5c not even 1c yet people are still willing to pay 5-7.5c for them crazy


I sold off a few more opies yesterday at 10c when the SP (Share Price) was struggling around the 30c level


For the opies to be worth 10c SP should be 35c, I think alot of the market thinks that these are 20c opies


As for getting set before the stock runs, I'd laugh if ASF peeps knew the fundamentals but didn't bother to get set at 18-22c level because they would rather wait for volume and price increase to validate it,

Stock has a long way to go guys don't lose sight of the 2 nickel projects worth at least $100m - $200m to the company and we should get a scoping study for Carr Boyd soon,

I expect further weakness as cleary it was alot of short term traders who jumped on else there would have been way more buying support at 27c, it just dipped below 27c without any support

Good luck all

 

[Kauri]

Kauri, are you sure the drill area in Marillana adjoins the BHP line? The maps on the AGM presentation show HI drill results for a very small triangular section bounded by BHP's tenement on one side and a zone set aside for a future railway (looks like the one to FMG, and perhaps the one they don't want to build and instead use BHP's line), but it's not the existing BHP line that is several kilometres away toward the middle of the tenement. The area drilled by HI only appears to account for about 5% of YML's total tenement. YML have indicated in a mid December ASX announcement that they plan to drill in the zone set aside for the future railway once they're given approval. This zone has not been previously assayed.
YML also give an example of haematite in their AGM presentation so as you've pointed out, they know what they're digging up.

I'm not sure if YML are trying to confirm the whole of HI's previous drilling results. They seem to be focussing on an area 2km x 500 which is likely to show about 55m tonnes (2,000x500x14 average depthx 4 tonnes pm3 @ 59.3% FE).

The proposed FMG rail is about 30km due north, an H.I spur is around 20km away a little west of south. The area being drilled/redrilled (about 7km by 3km) abutts the existing BHP line. In the grab attached I have outlined the area roughly, if you look at the line marked heading east from the north of east corner you may be able to see the track..

 

[watsonc]

Will be interesting to see what happens to the share price when when the week time frame draws to a close, and still no news! Might be a bit of demand again for the stock with people jumping in with a last minute rush!

 

[watsonc]

Atlas Iron Limited - AGO, has Iron Ore drilling results out today. Similar percentages to YML's 1996 drilling. Up on open!

 

[greggy]

Will be interesting to see what happens to the share price when when the week time frame draws to a close, and still no news! Might be a bit of demand again for the stock with people jumping in with a last minute rush!

No activity thus far today. Buyer at 26c/ seller at 28.5c.
DYOR

 

[nioka]

No activity thus far today. Buyer at 26c/ seller at 28.5c.
DYOR

You are right there. The first trade of 15000 was mine and the last 2 were cross traded. Everything looks good but some day traders would have been singed in the last day or so and this will put the brakes on them. Lets hope for a good assay result now.

 

[gordon2007]

Is this the calm before the storm?

 

[nioka]

Is this the calm before the storm?

I don't like storms. Slow and steady wins the race.

 

[camaybay]

E Trade has finally charted!

:band

 

[noirua]

Kgee magnetite ores are deposits that grade 30% Fe

Hematite Ores are traditionally 60%Fe+ deposits, but given the increase in Spot Iron Ore price, I reckon 50% Fe deposits would qualify, they would just need more benefication to make it shipable to China

Ideally High Grade 65% Fe Ore is perfect as its DSO, Direct Shipping Operation, ie dig it up, put it on truck/rail/ get it to ship and ship it thats it, no chemicals/ore blending etc etc

Hi, benefication means building a plant on top of it. That means a lot of extra expense that YML are not cashed up for. It's a case of high grade or leave it in the ground for YML, imho. A pelletizing plant would also need to be built: http://www.industry.siemens.com/broschueren/pdf/mining/en/Family_Mining_engl..pdf

Still, iron ore is King at the moment as China's is not of Australia's quality by far.

This stock could fly, though the wicket has got a bit trickier in recent weeks - Good Luck.

 

[kgee]

Hey I recommened that book to you ages ago and your only now going to get it?????

To all those interested in learning its a great book!

All I can say is I'm a busy man...started reading it last night ( to about 1:30am)
Surprised you never mentioned more about it being haemetite...I still think you'd be wanting above 60% Fe....the benefications got to be expensive and the more waste matarial the more thru put you need + you have the 50 m overburden someone in the mining industry would have to tell me what that will cost( 1$ cubic metre / 1$ tonne)
Not trying to pick holes in YML cause it looks good just trying to promote discussion
Ps a pelletisation plant may not be neccessary, as with the case of Grange resources who ship the ore unrefined to malaysia (magnetite)

 

[KIWIKARLOS]

Got in earlier at .255 only small parcel. I'm still not too convinced on this stock lets just hope they get good results from their samples. All the other projects seem to be quite long term prospects.

 

[watsonc]

It's killing me waiting for this announcement!

 

[gordon2007]

Apparently killing others too, down to .23

 

[KIWIKARLOS]

Nah its just this evil curse thats been following me around for the last couple months, every stock I buy into seems to take a dive 10 mins after i buy it