YML - Yilgarn Mining

[rico01]

Thanks gringo - enlightening post. Unfortunately with YML its always just a matter of ttttiiiimmmeee.....

As slow motion as the boys are, at least they are the real deal - so they've got a holder right here.

These guys owe it to the shareholders to let us know how the mining/scoping study is going. If it's been delayed, due to unforseen circumstances or something, fine!, but let everybody know whats going on.
I think there is something called continuous disclosure and if something has changed, been delayed, they should tell us, after all it was going to be april then may and now its july.

 

[KIWIKARLOS]

http://news.ninemsn.com.au/article.aspx?id=271894

Check this out guys has major implications for YML and its marianna prospects, RIO and BHP dont want to let anyone use their infrastructure because its already at full capacity.

The only was YML will get its resources recognised is if the high court makes a judgement that 3rd partys must be allowed to use existing rail.

On the other hand Rio came out today stating that base commodities eg . Coal , gas and iron ore are really the only mineral deposits worth looking for in Aus.

I believe the only way marianna will get off the ground is if YML sell it to either rio or bhp.

 

[Caliente]

http://news.ninemsn.com.au/article.aspx?id=271894

Check this out guys has major implications for YML and its marianna prospects, RIO and BHP dont want to let anyone use their infrastructure because its already at full capacity.

The only was YML will get its resources recognised is if the high court makes a judgement that 3rd partys must be allowed to use existing rail.

On the other hand Rio came out today stating that base commodities eg . Coal , gas and iron ore are really the only mineral deposits worth looking for in Aus.

I believe the only way marianna will get off the ground is if YML sell it to either rio or bhp.

I think you're thinking a bit too far ahead. I always thought that the longterm implication for the Marillana deposit would be acquisition.

Let the YML prove up the good tonnage and grade to JORC standards, and let the big boys make a bid for it. The location is too good to ignore.

 

[KIWIKARLOS]

Hahahaha i thought thats what i had said :

"I believe the only way marianna will get off the ground is if YML sell it to either rio or bhp."

Besides there is no way they could raise the capital to construct a working mine.

 

[gringokonyo]

Hahahaha i thought thats what i had said :

Besides there is no way they could raise the capital to construct a working mine.

How much do you reckon they need? I have no idea what is involved in getting an iron ore mine up and running (or any mine for that matter).

 

[UPKA]

Hahahaha i thought thats what i had said :

"I believe the only way marianna will get off the ground is if YML sell it to either rio or bhp."

Besides there is no way they could raise the capital to construct a working mine.

all they need is a JV and eat off the interest on the project, and that should be more than enuf for them.

 

[MiningGuru]

Holding up very well today. A little green in a sea of red!

Actually cone up 2.5c to 49c while the rest of the market is down!

The Carr Boyd announcement must be coming out any day now.

 

[Caliente]

lol maite - its been coming for months. Just hold on to the good ship YML till then. By the way who is going to the AMEC conference tommorow in Perth? I'll be there. Look for the Nixon Rotolog -(ebony/gold) watch, and say hi!

 

[MiningGuru]

The 100,000+ that was sitting at 50c has now been chomped.

A good sign!

Lets see what happens during the rest of the day

The chart also looks fantastic for further move upwards.

 

[Crash]

From The Age - today.

Fortescue gets port support
Jamie Freed
June 13, 2007

THE first iron ore shipped from Fortescue Metals' new berth at Port Hedland may be produced by another company.

In an apparent demonstration of its commitment to open-access infrastructure in the middle of its long-running battle to gain access to BHP Billiton's railway line, the Andrew Forrest-backed company yesterday signed a memorandum of understanding with minnow Atlas Iron.

The deal would allow Atlas to start shipping 1 million tonnes a year from Fortescue's port, starting next March, subject to state environmental approvals. Fortescue plans to ship its first iron ore from its $3.2 billion Pilbara iron ore project in May, following cyclone damage to the railway line it is building.

Fortescue is fighting in the Australian Competition Tribunal for approval to run its own trains on BHP's railway line to help develop a secondary project, but other junior miners in the region are merely seeking BHP or Fortescue to haul the ore on the existing equipment at a commercial price.

BHP is believed to be discussing haulage arrangements with a number of companies, including Iron Ore Holdings. Rio Tinto said it had not been approached to haul outside ore or provide access to its railway.

"Small producers … don't want to buy trains and rolling stock," Fortescue government relations head Julian Tapp said.

"This is just going to be a profit stream for us. We're going to make money over helping other people ship their iron ore."

He said several other iron ore explorers, including BC Iron and Yilgarn Mining, had expressed interest in using Fortescue's infrastructure, but most would find BHP's railway more convenient geographically.

Fortescue's agreement with Atlas allows the companies 60 days to negotiate commercial terms for the port handling and ship-loading services, but is not legally binding.

Atlas plans to haul ore from its Pardoo hematite project 75 kilometres east of Port Hedland using road trains and will only use Fortescue's port until a new public facility is ready in 2009.

Atlas managing director David Flanagan said it would be more cost-efficient and better for the environment to haul the ore on BHP's railway line but they had not come to a deal after 2 ½ years of talks.

"In the event BHP and Atlas could come to a workable agreement, we would grab it with both hands," he said.

The deal with Fortescue would also allow Atlas to use its port facilities for a potential magnetite project and its railway and port for a second hematite project, neither of which has a resource.

Atlas shares closed 18.5 ¢ higher at a record $1.085, having nearly doubled in the past month. Fortescue shares closed 21 ¢ lower at $35.79.

 

[ALFguy]

Thanks for that Crash and well spotted - though BHP's line looks the more convenient for YML.

SP down as expected with a large(ish) seller at 50c, but holding up pretty well. Certainly looks like holders are holding out for news on CB or even Marillana now, seeing as we're well into June.

That said, the way things are going, we may be reading the next Quarterly to find out what they're up to.

 

[KIWIKARLOS]

Yeah perhaps they want the whole package together before releasing to public. The absence of director buying either means they have already morgaged their house to buy shares Carr boyd is unfeasable or an announcement is due within the next two weeks.

I like the last one, someone should call them? I would but im not exactly a top 20 holder and dont know alot about trading/business jargon.

 

[coladuna]

Is anyone concerned about the recent fall in nickel price?
In just a few weeks, it has come down from a high of US$50,000/t to US$41,000/t today.

 

[ALFguy]

Is anyone concerned about the recent fall in nickel price?
In just a few weeks, it has come down from a high of US$50,000/t to US$41,000/t today.

The LME have forced it down for now.
This from June 7th:

The nickel market, with prices hitting $51,800 a tonne in May and rising some 40 percent this year, has been characterised by extreme tightness with low stocks in LME warehouses and strong use in China.

The LME amended its lending rules, lowering the limit at which holders of dominant long positions are required to lend to the market, late on Wednesday.

"They are lowering the lending rules because they want to make more metal available to the market," analyst Michael Widmer at Calyon said. [ID:nL07105313]

Two-thirds of nickel output goes to produce stainless steel and buoyant demand has made it hard to get hold of the metal, which makes steel harder and more durable

So prices currently around USD$17 per Lb (AUD$14)? Not sure I've got my figures right here, but I believe YT's estimates were based on $5 per lb giving CB an in ground value of $150m at their last estimate of 8500t.

If anyone is a little shaky about the feasibility of CB, remember this isn't the only project that YML have.

 

[gringokonyo]

The LME have forced it down for now.
This from June 7th:



So prices currently around USD$17 per Lb (AUD$14)? Not sure I've got my figures right here, but I believe YT's estimates were based on $5 per lb giving CB an in ground value of $150m at their last estimate of 8500t.

If anyone is a little shaky about the feasibility of CB, remember this isn't the only project that YML have.

Also, people shouldn't forget that they're also extracting copper as part of the process, and copper prices are up on the LME. CB is primarily to get funding to get Marillana up on its way. I know that YML were due to receive scoping/feasibiliy study reports from mining contractors by late May, but I have never noted anywhere that the results were to be released to shareholders by a designated date, so I'm surprised by the amount of angst over these results not being made available. To me, it's almost a given that the mine will recommence given the information in the current Resource Stocks magazine and Pattersons analysis. September is noted as the planned start up date, so perhaps that may be delayed a little or maybe the 1,000 tonnes anticipated to be extracted in 9 months is optimistic. Maybe these are the issues the scoping and feasibility studies are evaluating. I've been sitting on these since late last year, and as a long term investor I'm not overly concerned, but I can understand those seeking short term gains getting frustrated with positive news not being released.

 

[ALFguy]

Just following on from what gringokonyo has said re CB.

I personally think (and I may have said this before) that they are wanting to find out more about the source of the mineralisation at CB so as to increase the indicated figures. It may also be they want to evaluate this before releasing further information to the market.

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.
The Company plans to pursue this target concurrently
with re-development plans within the Mine Area.

I particularly liked the illustration (bottom of page)

Slightly off topic, if anyone hasn't been following - This morning, someone selling 220k at 46c was bought out in one go. This resulted in the 200k seller pulling their sell order at 50c, hence the sp has moved up a little today.

 

[Jay-684]

Almost thought Australian Stock Report had recommended YML this morning! Unfortunately it was YGL - Yilgargn Gold....

Do they have any relationship with YML?

 

[Jay-684]

Any ideas why YML has dropped ~10% today?

Such a shame, as all my profits from FNT today so far have been eaten up by YMLs losses!

 

[mobcat]

Dont stress JAY low vol on the decrease means jack s CB,s on the way good times ahead for all holders of yml ymlo

 

[UPKA]

Any ideas why YML has dropped ~10% today?

Such a shame, as all my profits from FNT today so far have been eaten up by YMLs losses!

pretty obvious capping @50c for 200k shares, soon or later that seller will pull out, pending on ann!