YML - Yilgarn Mining

[Mozart56]

To keep reminding the mkt how undervalued they are? :

But yeah probably to do with the competent person statement, verification etc

YT any idea on the complexities of reaching JORC status? Is this something that can be done quickly after drilling results or does it take weeks of paperwork to finalise?

 

[YOUNG_TRADER]

YT any idea on the complexities of reaching JORC status? Is this something that can be done quickly after drilling results or does it take weeks of paperwork to finalise?

From what I understand YML have already done all the conceptual modelling etc of that small 5% portion of Marilliana, hence how they came up with the 30Mt@57%Fe resource estimate,

All they'd need is drill assays and I'd say 2 days max to confirm JORC

 

[Pommiegranite]

From what I understand YML have already done all the conceptual modelling etc of that small 5% portion of Marilliana, hence how they came up with the 30Mt@57%Fe resource estimate,

All they'd need is drill assays and I'd say 2 days max to confirm JORC

YT

If you had put most of your eggs in once basket right now...would it be the YML basket or another?

 

[YOUNG_TRADER]

I've cashed in alot of my portfolio (but not CTS or YML
), mainly taking lots of profits,

CTS and YML make up the bulk of what I have left invested, I can't really say much beyond that because I don't and won't give buy or sell recommendations,

However I will say this I never really put all my eggs in one basket at least 2 and they better be damn good baskets

 

[motion]

Hi YT,

Sorry I have been away has the Report came out on YML ? I'm just looking for it at the moment if this is the peak of YML at the moment I'm going to rethink my position.

Thanks

 

[YOUNG_TRADER]

Motion we each must decide for ourselves what we are going to do,

That being said I doubt that this is the 'peak' its only the begining IMO, sure Carr Boyd has been delayed by 2 weeks, but once released it will give clearer guidance to the mkt and MOST IMPORTANTLY the supporting brokers who are waiting to see the exact numbers

Everyone should make up their own mind but 2 weeks is not that long to wait for me

 

[motion]

Hi YT,

Yep I'm holding on.. Just trying to catchup on the new I think carr will be just the begining for YML... So I'm still holding..

Thanks for the update

 

[happytown]

from the ann, re

MARILLANA IRON ORE PROJECT (E47/1408)
(100% interest):

...

The drilling has shown the potential for mineralisation
(in that sector) of at least 30 million tonnes of circa
58% Fe content based upon the area as assessed (at
least 700 000m2)

...

(Formal disclosure: It should be noted that the
potential quantity and grade of iron ore mineralisation
is conceptual in nature and that there has been
insufficient exploration at this time to define a Mineral
Resource and that it is uncertain if future exploration
will result in the determination of a Mineral Resource).

...

The Company plans to commence a comprehensive
programme of in-fill and extension drilling in the
North-West Sector of the licence in mid June 2007,
following completion of Heritage surveys in that
section of the Exploration Licence. A total of 40 infill
RC holes are planned, which the Company expects will
allow estimation of an initial JORC compliant resource
estimate for that area. The results will be released
following completion of the programme.

...

The Company has received preliminary enquiries
regarding potential future production and/or possible
participation in the Project. The Company recognises,
however, that the first requirement is to establish a
JORC compliant resource and assess the various other
parameters relevant to future development.

is the formal disclosure above a requirement for a pre-jorc 'conceptual' estimation?

CARR BOYD Ni-Cu SULPHIDE PROJECT
(Earning 51% minimum interest)

...

Within the mafic – ultramafic intrusive there are
widespread occurrences of sub-economic nickel-copper
– PGE mineralisation. The breccia pipes in the Mine
Area represent the most significant mineralisation as
currently known but the other mineralised zones also
point up the potential of the Complex to host far more
significant Ni-Cu-PGE sulphide potential in depth.

It is a characteristic of these mafic-ultramafic intrusive
complexes that if significant mineralisation is present it
is usually within the conduit (feeder) to the intrusive.
Major ore deposits illustrating this mode of occurrence
include Jinchuan and Voisey’s Bay.

The Company has not been able to determine where
the conduit or conduits to the Carr Boyd Intrusive
Complex are located (at depth) or how deep they could
be but what is particularly encouraging about Carr
Boyd is that the nickel-copper sulphide breccia pipes
(with the included large, angular, breccia blocks
comprised of gabbro, pyroxenite and bronzitite) would
seem to have been derived, at a point very late in the
emplacement process, from a source deeper down.
At least, that would appear to be the case for the
sulphides.

For that reason, the Company considers that the major
exploration target at Carr Boyd is the source of the
mineralisation in the pipes – a mineralised zone
associated with the conduit (feeder) to the complex.
Therefore, tracing the roots of the pipes in depth may
be a valid and rewarding exercise.

...

is the only really economic resource deep down? or am i reading 'in depth' incorrectly?

IRWIN–COGLIA PROJECT
(40% interest)

...

The Irwin Joint Venture has considered various
possibilities for development including treatment of
sections of the higher grade ROM (“run of mine”)
material at Murrin Murrin, heap leaching on site at
Irwin–Coglia and the production of a high grade
cobalt–nickel “concentrates” for treatment at
Murrin Murrin or elsewhere. Dealing with each of
these in turn:

(1) Treatment of ROM Material at Murrin Murrin
Consideration has been given to the possible
treatment of higher grade Ni-Co ROM material
as trucked to Murrin Murrin.

At this point in time, the Murrin Murrin coventurers
have advised that the high salinity
levels in the ROM material render that material
unsuitable for HPAL treatment using the current
autoclaves at Murrin Murrin.

Yilgarn Mining notes, however, that in the event
that a new autoclave, capable of treating high
salinity ores, becomes available in the future,
then the possibility of treating Irwin–Coglia ROM
material would once again warrant consideration
and assessment.

(2) Heap Leaching of Irwin–Coglia Limonite
Resource material

Testwork has shown that the high iron, limonitic
resource material is not suited to heap leaching
under atmospheric conditions. However, the
limonitic material is considered very suitable for
HPAL treatment (subject to the salinity problem as
applicable to certain autoclaves).

...

there would appear to be quite a few obstacles to overcome for yml or are they being a little more realistic when it comes to informing shareholders, than some resource co's

cheers

 

[ALFguy]

Happytown, you appear to have selected (and highlighted) every negative bit of information from the recent announcement.

Any noobs reading that might panic and sell

Might be worth you reading the latest update in full and reposting with all the positives - for a fair and balanced post that is

 

[KIWIKARLOS]

Mate I would like to see some panic selling now.

Every the sky is falling bail out and let me pick up your holdings at 30c.

 

[Bullion]

Happytown I feel has pointed out some fair comments. It's always good to see the other side. Either way, no panic selling here!

 

[happytown]

ALFguy,

(wanted to insert lots more big grins, winks, etc but there is a 5-smiley limit)

I have posted the largest slabs of information from the recent ann, that is true.

If i have as you say "selected ... every negative bit of information" then would that mean there is more negative than positive in the ann

probably would have been better to say that i had selectively highlighted what i thought to be the negative bits of information

what i have done is highlighted what could be possible obstacles that yml themselves have chosen to include in their ann and then asked questions of those on this thread, regarding those possible obsatcles

i notice nonetheless that you recognise they are 'negative' (a term i have not used - i referred to them as obstacles), however your postings, post the ann are all 'positive'

as to my re-reading the ann and re-posting a fair and balanced post (and recognising the big grin), a quick re-read of this thread would indicate that my post was the only one that chose to question the very wording the co chose to use in the ann, thus providing the thread, in relation to this ann, a semblance of balance

and i would add that the questions i posed are genuine and i would hope, bearing in mind that this thread also contains, as you imply, non-newbies, were able to be answered

to be fair and balanced the only thing i would add is that i recently sold, after hopping on board a few weeks ago and riding this nicely

further, the reason for the questions is that, nonetheless, i am still watching yml and am interested in its potential

so ALFguy, feel free to lend your knowledge to the questions posed

cheers

 

[rico01]

The drilling has shown the potential for mineralisation
(in that sector) of at least 30 million tonnes of circa
58% Fe content based upon the area as assessed (at
least 700 000m2

Does anybody know in the scheme of things that figure of "30 000 TONNES" Is that a large enough resource or enough to provide for a substantial mine life or are we in need of a substantially larger resource before they could proceed with it?

 

[INORE]

The drilling has shown the potential for mineralisation
(in that sector) of at least 30 million tonnes of circa
58% Fe content based upon the area as assessed (at
least 700 000m2

Does anybody know in the scheme of things that figure of "30 000 TONNES" Is that a large enough resource or enough to provide for a substantial mine life or are we in need of a substantially larger resource before they could proceed with it?

This probably depends on a number of factors such as if they intend crushing and screening the ore with their own plant or if its feasible to transport it to another existing plant for processing before going to port. I'm pretty sure thats what cazaly and bhp have in mind if cazaly was to win back their tenement from rio tinto....and this would seem the best option for YML considering their close proximity to existing mines.

A rough guess (excluding the costs of getting the ore to port) setting up a 5-10 mtpa plant would probably cost somehwere in the vicinity of around 500-800k taking into acoount that the company has no structures in place for doing any of its own studies and EPCM of an iron ore mine....but this is really a ball park figure loosely based on the costs of plants that BHP and RIO have recently developed or expanded on....

 

[INORE]

This probably depends on a number of factors such as if they intend crushing and screening the ore with their own plant or if its feasible to transport it to another existing plant for processing before going to port. I'm pretty sure thats what cazaly and bhp have in mind if cazaly was to win back their tenement from rio tinto....and this would seem the best option for YML considering their close proximity to existing mines.

A rough guess (excluding the costs of getting the ore to port) setting up a 5-10 mtpa plant would probably cost somehwere in the vicinity of around 500-800k taking into acoount that the company has no structures in place for doing any of its own studies and EPCM of an iron ore mine....but this is really a ball park figure loosely based on the costs of plants that BHP and RIO have recently developed or expanded on....

see this CAZ announcement re shovelana

http://www.cazalyresources.com.au/files/grabdoc.php?type=doc&id=96&cid=44

 

[rico01]

see this CAZ announcement re shovelana

http://www.cazalyresources.com.au/files/grabdoc.php?type=doc&id=96&cid=44

Thank you
I can see from that announcement that cazaly were looking to produce 5 million tons per annum giving yml a life of 6 years at the current resourse of 30 million tons. So I guess we really need the northwest section to come up with good drill results for yilgarn to really perform for us.

 

[motion]

Good Morning, it seems YML is on the run this morning.... up 9% at the moment and not to many sellers....

 

[alankew]

Looks like everyone that wanted to be in this one is,only 1 seller for 25000 and thats it nothing further to add

 

[YOUNG_TRADER]

I thought YML looked like it was consolidating the last few days but a bigger view starting on the 26th of April looks like its still in an uptrend

Techies, Kennas your thoughts?

 

[ALFguy]

Hey Happytown,

My apologies if I sounded too abrupt yesterday. Had been reading other posts and was becoming despondent at all the up\down ramping and your post just kicked me off to make a snap reply

I won't reply to your 2nd post as I think the above goes some way to explaining my post, but in the interest of starting a discussion on the points you raised in your original post, I have a reply to one of those points.

CARR BOYD Ni-Cu SULPHIDE PROJECT
(Earning 51% minimum interest).......is the only really economic resource deep down? or am i reading 'in depth' incorrectly?

Without the additional information posted in their recent update, Carr Boyd has always looked like an economically viable resource. In fact, all indications are that they will announce this with the scoping study. Of course that's not set in stone yet, hence the study.

The statement they made regarding further resource at depth simply highlights that there is 'potential' (there's that word again) for further exploration of the pipes to increase the resource. They have a nice little picture in their last ann showing a conceptual image.

I too am cautious of the downside here. Carr Boyd may turn out to be worth less than they thought, Marillana needs more drilling, and of course the Irwin Joint Venture looks to have some issues.

That said, I'm sure Pato's took all this into account when they put a 40c value out there.