Australian (ASX) Stock Market Forum

YML - Yilgarn Mining

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I really dont want this to come across as a ramp. But it looks like there is some interest in YML starting.

I've been watching it the last few days and noticed alot of sellers have dried up and a gap between buyers and sellers is forming. This morning I've noted 2x 100,000 unit buyers. Perhaps the speculation of the April announcements YT has been talking about is starting to kick in?
 
I wouldn't jump the gun yet. Its been oscillating around this range for the last 2 weeks. It'll be good when they come out with an announcement soon though. :)
 
There was some talk in todays newspaper about Chinese being interested in building a rail line to Yilgarn or something... Could this have an affect on YML?
 
This is from YML's half yearly,

It gives a list of the updates I expect shortly


Review of Operations
The Company is a mineral explorer but is presently principally occupied with the development of two nickelprojects and the consolidation of the resource base at an iron ore project, all in Western Australia.
Overall, the Company has interests in tenements considered prospective for gold, nickel, cobalt, iron ore, copper, zinc and mineral sands.


The Company conducts nickel, sulphide and Ni-Co laterite exploration activities at various prospects in Western Australia including a 40% interest in a joint venture with the Murrin Murrin Joint Venture (Minara Resources and
Glenmurrin) at the Irwin-Coglia project area, 100km south east of Laverton. This joint venture has Indicated Resources (laterite) of 16.8 Mt grading, 1.07% Ni and 0.14% Co.
The Joint Venture plans to commence pilot scale cobalt upgrade testwork in March, 2007.
The Joint Venture also commenced the Irwin-Coglia Ni-Cu sulphide exploration in 2006.


The Company is also farming into the Carr Boyd Ni-Cu sulphide prospect north-east of Kargoorlie. The coventurer is Consolidated Minerals Ltd. Yilgarn is earning an initial 51% interest.
A Sulphide Mineral Resource Estimate of 597,000 tonnes grading 1.4% Ni and 0.5% Cu (containing 8500 tonnes nickel metal and 2900 tonnes copper metal) was announced by the Company in November, 2006.
Feasibility studies for the early potential development of this resource were well advanced in early 2007.



In January, 2007 the Company announced a mineralisation estimate for the Marillana Iron Ore Project (in the Pilbara of Western Australia). This estimate was “at least 30 million tonnes of plus 58% Fe mineralisation”. The
assessed equivalent “calcined” grade of the mineralisation is 64% Fe.
In-fill drilling is planned for the second quarter of 2007 to upgrade the mineralisation estimate to an Indicated category.



In March, 2006 the Company announced the entry into a joint venture with Mithril Resources Ltd in respect of the Byro Ni-Cu sulphide project in Western Australia.
 
Well, volume has dried up over the last few days.

Have we seen the last of the impatient holders?

Still holding and waiting. Should be an interest couple of months coming up.

Although I'd really like to know how much cash these guys have left and if they'll need a top up this year.

Wonder if they'll get some interest from the Chinese ;)
 
ALFguy said:
Well, volume has dried up over the last few days.

Have we seen the last of the impatient holders?

Still holding and waiting. Should be an interest couple of months coming up.

Although I'd really like to know how much cash these guys have left and if they'll need a top up this year.

Wonder if they'll get some interest from the Chinese ;)
Click to expand...

Yup its a stand-off at the moment. Everyone waiting for the next announce... I get a sense that the longer we wait the more volatile (up or down) the response is likely to be. By all accounts the general climate is very good, with the Chinese showing huge interest in any potential Fe deposits, and Nickel doing so well.

I thought their cash on hand was pretty good. They had around $4M in December, so I'd be surprised if they needed anything soon.
 
Is it that people are waiting for the announcement or are people just not interested in YML?
The volume has pretty much been zero for the last few sessions, if you disregard puny few thousand shares trading hands.
Bought in at 20.5 cents not long ago and it has been way too quiet for my liking except for a short run up to 23-24 cents mark.
There has not been a single announcement to keep the investors updated either. Hope my patience will be rewarded
 
coladuna said:
Is it that people are waiting for the announcement or are people just not interested in YML?
The volume has pretty much been zero for the last few sessions, if you disregard puny few thousand shares trading hands.
Bought in at 20.5 cents not long ago and it has been way too quiet for my liking except for a short run up to 23-24 cents mark.
There has not been a single announcement to keep the investors updated either. Hope my patience will be rewarded
Click to expand...

Yilgarn don't make many announcements. Look at their history. They tend to play it very low key.. the Directors certainly aren't rampers. They keep buying stock though :)
 
Re Carr Boyd
Expect a feasibility study result within the next say 3 weeks, I think it'll only be stage 1 ie the open pit section but may also include stage 2 the small underground section, the real big bucks are down in stage 3 (bulk of the deposit) stage 1 will fund stage 2 which in turn will fund stage 3,

This alone underwrites current mkt cap

Re Irwin
The Murrin Murrin JV, ie Minara and YML are yet to agree on a price for the sale/purchase of the Laterite Nickel Colbat Ores,

See its like this the Murrin Murrin JV own's Irwin (ie JV Minara and YML) and they are the diggers/potential sellers of the ore, the buyer is Minara for its Murrin Murrin plant, so you can kinda see the conflict of interest, ie MRE would want to pay the lowest price possible for the nickel ore,

Anyway Pilot scale testwork is underway to determine the recovery/metal etc etc, once completed MRE and YML will agree on a price, allow 4-6 weeks

Re Marilliana
They are ready to drill a large RC campaing which if succesful will confirm up the 30Mt@58% Fe estimate to a Indicated and Inferred JORC standard, expect JORC by June


Wild Cards
Even though Carr Boyd will be a staged development and stage 1 is only 10% of the total project the NPV may still surprise to the upside and CSM is the JV partner

With Irwin hills they may reach a price agreement sooner than expected if Nickel keeps sky rocketing

With Marilliana as we know the Chinese are always sniffing around and management has confirmed they have had queries but nothing substantial yet, a potential JV could light a rocket,

Wih its current Mkt cap easily underwritten by its projects I have no issue in holding and staying exposed to YML becasue I don't want to risk mis-timing its re-rating

That being said I will probably defer buying more until May/June
Good things take time ;)
 
nioka said:
I think the time taken has been too long for the options. I have taken a 40% loss on options rather than see them expire worthless. I'm still in with the shares but they are now a bottom drawer lot.
Click to expand...

I think it is interesting what you say about the options. I think the upside is good, but the timing is off for them. Maybe this is why the Directors keep buying shares and not options? Last parcel I think was 100,000 shares at 25c. Could have a got a lot of options for that.
 
All quiet on the western front for this baby :confused:

These reports that are supposedly due soon are much needed to get some interest back into YML

Hasn't been anymore director buying lately, thought there would have been considering it hit 20 C and previously they had bought for 25 C.

Will this goose lay a gooden egg soon,

YT got any insider info :D
 
KIWIKARLOS said:
All quiet on the western front for this baby :confused:

These reports that are supposedly due soon are much needed to get some interest back into YML

Hasn't been anymore director buying lately, thought there would have been considering it hit 20 C and previously they had bought for 25 C.

Will this goose lay a gooden egg soon,

YT got any insider info :D
Click to expand...

No insider info my friend, just researched info, see below

YOUNG_TRADER said:
Re Carr Boyd
Expect a feasibility study result within the next say 3 weeks, I think it'll only be stage 1 ie the open pit section but may also include stage 2 the small underground section, the real big bucks are down in stage 3 (bulk of the deposit) stage 1 will fund stage 2 which in turn will fund stage 3,

This alone underwrites current mkt cap

Re Irwin
The Murrin Murrin JV, ie Minara and YML are yet to agree on a price for the sale/purchase of the Laterite Nickel Colbat Ores,

See its like this the Murrin Murrin JV own's Irwin (ie JV Minara and YML) and they are the diggers/potential sellers of the ore, the buyer is Minara for its Murrin Murrin plant, so you can kinda see the conflict of interest, ie MRE would want to pay the lowest price possible for the nickel ore,

Anyway Pilot scale testwork is underway to determine the recovery/metal etc etc, once completed MRE and YML will agree on a price, allow 4-6 weeks

Re Marilliana
They are ready to drill a large RC campaing which if succesful will confirm up the 30Mt@58% Fe estimate to a Indicated and Inferred JORC standard, expect JORC by June


Wild Cards
Even though Carr Boyd will be a staged development and stage 1 is only 10% of the total project the NPV may still surprise to the upside and CSM is the JV partner

With Irwin hills they may reach a price agreement sooner than expected if Nickel keeps sky rocketing

With Marilliana as we know the Chinese are always sniffing around and management has confirmed they have had queries but nothing substantial yet, a potential JV could light a rocket,

Wih its current Mkt cap easily underwritten by its projects I have no issue in holding and staying exposed to YML becasue I don't want to risk mis-timing its re-rating

That being said I will probably defer buying more until May/June
Good things take time ;)
Click to expand...
 
Not much trading as we are all sitting on our hands waiting for something to happen. Looks very promising so I guess we'll all continue to be patient and read Y_t's posts.
 
I bet you its a director buying, we'll know in 3 days or so, if so that would mean Carr Boyd is not too far off
 
Are you suggesting insider trading? What are the rules for directors buying in proximity to announcements?
 
Crash said:
Are you suggesting insider trading? What are the rules for directors buying in proximity to announcements?
Click to expand...

No no not at all, Directors can't buy 2 weeks before or after an ann, so probably getting some shares pre-results,

Of course just me speculating who knows, stocks been quiet for so long then all of a sudden a largish order today
 

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