YML - Yilgarn Mining

[MiningGuru]

The enthusiastic buyers have bought.

Some holders have noticed the increase in selling price and have decided to sell a few off.

Hence the drop in selling price. Volume is very low so do not worry. Proably a great time top up, in the calm before the storm.

The announcement is due soon as should see things moving!

 

[Fool]

The enthusiastic buyers have bought.

Some holders have noticed the increase in selling price and have decided to sell a few off.

Hence the drop in selling price. Volume is very low so do not worry. Proably a great time top up, in the calm before the storm.

The announcement is due soon as should see things moving!

Buyers:
1 1,112 0.450
1 500 0.440

The stock is being majorly manipulated to scare people into selling.

Expect some larger volume buy orders to go through this afternoon.

 

[Caliente]

Absolutely. It would be a disservice to dump your shares into this low volume (only 42500 today...) lull with the good news approaching.

 

[Mozart56]

Absolutely. It would be a disservice to dump your shares into this low volume (only 42500 today...) lull with the good news approaching.

RE – YML dates. Whilst I have no doubts about the ability of YML to produce comprehensive data and information about their tenements, meeting stated deadlines has never been one of their strengths. Of course being a small company YML is subject to all those factors beyond its control, but before people get too excited about the “end of May” as being a deliverable it is worth reminding everyone that this report has been delayed at least three previous times and I wouldn’t bet on it not being delayed a fourth.

Hence the possibility of the end of financial year upon us before there is an announcement is very real, and I suspect a few people are taking their profits now rather than risk a slump at the end of June.

Being the eternal optimist that I am, I’m hopeful that it will be before June.. particularly as I bought some oppies at 25.5c last week!... but the fundamentals remain unchanged until YML change them. Hence patience here is the key. They are working hard and let’s not forget that no-one has more skin in the game than the YML boys themselves

Carr Boyd and the Waiting Game

8 September 2006

“It is expected to be about two months before the Study is completed.”

10 November 2006
- from Media release

Mr Burt said -
“The study, which includes metallurgical test work on sample ore, is continuing and should be concluded early in 2007.”

19th April

“The objective is to be in a position to commence the Open Pit in September, 2007”

“Upon completion of the drilling programme and re-assessment of the Open Pit resource available for mining, the Open Pit study will be revised. We anticipate this will be in early May”


14th May
“The Open Pit mining study is now expected to be completed in lae May 2007”

 

[Caliente]

nice post mozart - guess we should be thankful then that the delays are getting closer and closer apart ^_-

 

[noirua]

YML are very much my speculation stock and after two successful forays I hope a third opportunity arises. It means I'm a bear of Yilgarn at the present high price with much costly development up front.

 

[Mozart56]

YML are very much my speculation stock and after two successful forays I hope a third opportunity arises. It means I'm a bear of Yilgarn at the present high price with much costly development up front.

Well the SP keeps falling on what appears to be bait and switch tactics and tiny volumes. Market cap has fallen 44% in the last week... on what appears to be impatience alone. Is the Carr Boyd potential worth a current market cap of just $25M?.... this also assumes that Marillana is worthless as are their other projects. Going over the numbers again and reviewing YT's analysis I can't see how CB would go ahead on anything less than a $25M NPV. Of course there maybe something we (the faithful) are failing to take account of, but for the life of me I can't see what it is.

 

[coladuna]

Should I be concerned with the continued fall in SP?
Quite a significant fall in the last few days considering the intraday high of 60 cents. Is this only a temporary reaction until the big bang expected when the long-awaited announcement is released?

 

[ALFguy]

Just got back from a week in hospital after having surgery (which was nice), so catching up on recent events here.

Not surprised at the pull back on low volume. Also quite happy to see this trade back at 40c pre any information on CB. Had run far too quickly on no news and likely a zillion noobs jumping on expecting short term wins.

You only have to look at the sell stack to see most holders want a much better price or simply have a long term view.

Personally, I'm 'betting' on an additional deep source at CB being something big and I'm half thinking that YML are checking this out pre any announcement.

Noirua, you think patersons have it wrong?

Edit: And yes, Caladuna....this sp fall is nothing to worry about because when they announce CB, the sp will go ballistic and rocket to the moon and everyone on here will make a ton of cash and live happily ever after - that's how simple it is. Seriously though, I honestly think you need to take stock of everything that's been said on this forum so far and weigh that against your own research on this company and it's potential. Did you buy because someone on here said you should?

 

[Fool]

Could also be that people are sick of waiting....

This news has been coming since september last year or something like that.

40c is a good price to sell if you only paid 18c or less isn't it?

 

[YELNATS]

40c is a good price to sell if you only paid 18c or less isn't it?

By the same token, 40c also seems a good price to buy in view of the prospects this business has. I topped up today in the low 40's. regards YN.

 

[gringokonyo]

Hi there. Does anyone know what the deal is with the 9.5million options that are exercisable by 31 December 2008?

I think these are for public purchase rather than for Directors etc. I don't think they've been released. If they haven't, any ideas what is the usual procedure for the initial pubic offer of options purchase? Will they become available on a designated date at price which is 25cents below the ordinary share price at the time of release or will there be some sort of application process with a specified price?

I've cut and pasted the share structure from the YLM webpage which indicates the information as current as at 30 June 2006.

ORDINARY SHARES ON ISSUE
59,793,246*

SHARE OPTIONS ON ISSUE:

Exercisable at 25 cents each on or before 30 June 2007
11,862,280

Exercisable at 25 cents each on or before 31 December 2008
9,500,000

Exercisable at 30 cents at various dates up to and including 4 December 2009
675,000

* Unchanged since listing in August, 2004

 

[Miner]

Probably YML will be having first production not before 2010. This is not too bad considering FMG commenced the plan on drawing board in 2004 for a production of 2008 May. Who knew FMG at that tim. Similarly if YML starting its work in 2007 - the year 2010 is not too bad.
Rio commenced its expansion way back in 2005 and we are seeing Hopedown is only coming next year. MPDJV for BHPB is still going.

Just a thought.

Regards

Miner

 

[INORE]

Probably YML will be having first production not before 2010. This is not too bad considering FMG commenced the plan on drawing board in 2004 for a production of 2008 May. Who knew FMG at that tim. Similarly if YML starting its work in 2007 - the year 2010 is not too bad.
Rio commenced its expansion way back in 2005 and we are seeing Hopedown is only coming next year. MPDJV for BHPB is still going.

Just a thought.

Regards

Miner

Depends if they get an offtake agreement with one of the big 3.....otherwise you are prob right as the BHP rail wont be open until after 2010 http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=29887 if you believe this article. BTW Rio have been in expansion mode since about 2002 similar for BHPB.

 

[Fool]

They will be for the directors.. not for public release.

Very surprised if they are for public release at the same price as the ones that expire this month.

Hi there. Does anyone know what the deal is with the 9.5million options that are exercisable by 31 December 2008?

I think these are for public purchase rather than for Directors etc. I don't think they've been released. If they haven't, any ideas what is the usual procedure for the initial pubic offer of options purchase? Will they become available on a designated date at price which is 25cents below the ordinary share price at the time of release or will there be some sort of application process with a specified price?

I've cut and pasted the share structure from the YLM webpage which indicates the information as current as at 30 June 2006.

ORDINARY SHARES ON ISSUE
59,793,246*

SHARE OPTIONS ON ISSUE:

Exercisable at 25 cents each on or before 30 June 2007
11,862,280

Exercisable at 25 cents each on or before 31 December 2008
9,500,000

Exercisable at 30 cents at various dates up to and including 4 December 2009
675,000

* Unchanged since listing in August, 2004

 

[gregcourageous]

Well, it's the last day of may and still nothing. I wish they would put out some sort of ann with reasoning for why its constantly being delayed.

 

[Fool]

Well, it's the last day of may and still nothing. I wish they would put out some sort of ann with reasoning for why its constantly being delayed.

You could always ring the directors and ask them why they havn't released a statement saying it's going to be delayed.

 

[Mozart56]

Well, it's the last day of may and still nothing. I wish they would put out some sort of ann with reasoning for why its constantly being delayed.

Announce? What Announce?

There has been much speculation on this forum (myself included) that an “announcement” determining the "go ahead", value and/or production timeframe of CB is imminent; indeed late May; but having re-read all the reports, nowhere in any of YML releases or for that matter Patterson’s reports does it say there will be an “announcement” in late May, only that a Mining Study is due to be completed in late May and that it is one of a number of factors to be included in a decision to re-open CB. For all we know the Mining Study may have been completed weeks ago.

To quote YML directly

“The Open Pit mining study is now expected to be completed in late May 2007 following incorporation of the results of the recent reverse circulation (RC) drilling programme (Quarterly Report as issued in April, 2007).
The Study will be one of a number of factors in the decision to proceed with the Open Pit as Stage 1 in the re-commencement of mining at Carr Boyd.
The other factors are: successful negotiation of an ore off-take agreement; approval of the Mining Proposal by DoIR and the result of a tender process for the Open Pit mining contract”

Hence there is no statement that the Mining Study will be released, and in fact were it released it is unlikely that taken in isolation it would indicate that mining would go ahead as it is “one of a number of factors”

How long these “other factors” may take to resolve is anyone’s guess. Don’t get me wrong, I’m not trying to hose down the stock, just trying to temper anticipation. Good things come to those who wait Closest we have to a timeframe is “second half of 07”.

Of course should the announce come out today.. I like every other stockholder will be rapt, and delighted to be proved wrong

 

[Pommiegranite]

Announce? What Announce?

There has been much speculation on this forum (myself included) that an “announcement” determining the "go ahead", value and/or production timeframe of CB is imminent; indeed late May; but having re-read all the reports, nowhere in any of YML releases or for that matter Patterson’s reports does it say there will be an “announcement” in late May, only that a Mining Study is due to be completed in late May and that it is one of a number of factors to be included in a decision to re-open CB. For all we know the Mining Study may have been completed weeks ago.

To quote YML directly

“The Open Pit mining study is now expected to be completed in late May 2007 following incorporation of the results of the recent reverse circulation (RC) drilling programme (Quarterly Report as issued in April, 2007).
The Study will be one of a number of factors in the decision to proceed with the Open Pit as Stage 1 in the re-commencement of mining at Carr Boyd.
The other factors are: successful negotiation of an ore off-take agreement; approval of the Mining Proposal by DoIR and the result of a tender process for the Open Pit mining contract”

Hence there is no statement that the Mining Study will be released, and in fact were it released it is unlikely that taken in isolation it would indicate that mining would go ahead as it is “one of a number of factors”

How long these “other factors” may take to resolve is anyone’s guess. Don’t get me wrong, I’m not trying to hose down the stock, just trying to temper anticipation. Good things come to those who wait Closest we have to a timeframe is “second half of 07”.

Of course should the announce come out today.. I like every other stockholder will be rapt, and delighted to be proved wrong

Chinese whispers


Online forums are hilarious . Sometimes you can visit another forum, and see that another person's opinion is passed of as fact with no link to the original source.

This inturn is copied and pasted elsewhere, usually with a little bit added.

Eventually..it turns into total garbage. Sometimes, if you're really lucky you get quoted back your own opinioin as someone else's 'research'

I'm not saying this is the case with YML and Carr-Boyd, but it really does show that, like Mozart, it pays to DYOR

 

[KIWIKARLOS]

Hang on there are many things parts relating to the overall Carr Boyd feasability which were due to be completed during May.

The last project report clearly states
"the open pit mining study is due to be completed in Late May"

"This study will be one of many factors in the decision to proceed"

So yes there is the first stagge open pit study due to be complete, who knows if this will be released but i would suggest it is relavent.

On top of this there are notice of intent to be issued IN MAY.

If stage one open pit study is positive it means they will progress with the underground study.

They have also stated they are "AIMING" for a september start up of the mine.