YML - Yilgarn Mining

[Mozart56]

Well what an interesting situation we have this morning, 1.8 million up to 83 cents and suddenly the sell orders can't wait to bank in their profits. I wonder if these parcels are from the buyer who whipped up the million roadblock when the share was started its push to 40 cents? Todays trading will sort out the big traders from the tiny ones. I'm watching with amusement ........I guess we all are....

Well it's beyond me to understand what is happening here.

0.760 200,000 1
0.770 16,500 1
0.780 200,000 1
0.790 250,000 1
0.800 510,000 4
0.810 251,000 2
0.820 200,000 1

Who are these sellers? 1.6M shares under yesterday's highs. You could have sold all this stock in the 80's for most of yesterday. Is it one giant holder who only saw the share price in the paper this morning? A massive barrier to 80+. Or a capper looking to pick up a few more.. although they must be on the top 20 register with a holding that big. Let's hope it's not directors selling out! I'm certain it is not.. these guys are the real deal, but funny things happening with YML today!

 

[marklar]

Just as a matter of interest - how long does it usually take for converted options to show up?

I think mine took about a week, (that was back at the start of the month) the cheque was presented within a couple of days of posting it.

m.

 

[Mazrox]

I think mine took about a week, (that was back at the start of the month) the cheque was presented within a couple of days of posting it.

m.

Thanks, Mark... I'll give it til the end of the week. I'd expect it to take longer right on the deadline. Chq has been presented OK, so at least I know they got the paperwork.

Maz

 

[3 veiws of a secret]

Well it's beyond me to understand what is happening here.

0.760 200,000 1
0.770 16,500 1
0.780 200,000 1
0.790 250,000 1
0.800 510,000 4
0.810 251,000 2
0.820 200,000 1

Who are these sellers? 1.6M shares under yesterday's highs. You could have sold all this stock in the 80's for most of yesterday. Is it one giant holder who only saw the share price in the paper this morning? A massive barrier to 80+. Or a capper looking to pick up a few more.. although they must be on the top 20 register with a holding that big. Let's hope it's not directors selling out! I'm certain it is not.. these guys are the real deal, but funny things happening with YML today!

I held 127K in YML and I found it hard to offload them in one hit when the share was in its high 40's> high 50's.Now I'm only considering selling 127K not the volumes pitched in today .These guys have the same problem as we all had when holding 50K~150K shares.
Someone remarked that it's "all fishy" I tend to agree I really don't think this share shot up yesterday solely on The Age article,I get the impression somebody might be making a play for YML in many ones then one. Todays t/o is paultry stuff to the shark infested waters of yesterdays trade. For the volumes rushed through in last 10 mins of play to 1600hrs gave me the impression 84 ,83 cents mean't nothing to the overall trading trend in recent weeks.Yet here we are 1500 shares away from 70 cents might trigger some losses for those who purchased in the 80's.
Besides my drivel I'm still keen to jump onboard!

 

[KIWIKARLOS]

Yeah i agree, So much of the company changed hands yesterday above 70c and now it all appears to be sitting there as a giant road block today!
Think of the dollars actually traded and the value of those parcels it cant be day traders. Also who puts five 200K parcels at 2c increments?

Im not making any predictions or speculation but i thought these kind of tactics would be used in take over situations where as if the SP was say 5-10 c tactics like this could be attributed to day trading techniques?

Can someone find out for sure if those five parcels are linked? thats $750 K worth if it is thats for sure a toop 20 holder. Also when would be fing out if top 20 has changed?

 

[YOUNG_TRADER]

It certainly does look strange, almost like its all the one person, could be a broker like say Pato's who had alot of clients in at 30c-40c, who knows,

I also think it could be alot of people who converted their options over,

Either way, Mariliana JORC will clear them out

 

[jasoni]

Either way, Mariliana JORC will clear them out

Is there any estimates/guesstimates when the JORC will become available, have YML indicated a date?

 

[Mozart56]

Is there any estimates/guesstimates when the JORC will become available, have YML indicated a date?

Not till mid next month at the earliest. Even then it will only JORC the known resource as the untested areas won't start before this ... unless the new MD brings his own rig in

Still it looks like an insto or similar playing games today. I wonder how many of these were acquired yesterday? If so then they are prepared to take hit. 1.6M is a big share holding to dump. Definitely a top 20 player

0.760 216,500 2
0.780 200,000 1
0.790 250,000 1
0.800 506,330 6
0.810 250,000 1
0.820 200,000 1

 

[KIWIKARLOS]

There is a news article out saying that most companies are expecting Iron ore prices to increase by at least 25 % in 2008 ! and that it will likely continue upwards after that. Good times now to get set up in iron ore plays for the long term IMO

 

[sting]

Just as a matter of interest - how long does it usually take for converted options to show up? I converted my YMLO just before expiry (the cheque was presented 29/6). I figure I have to allow for cheque clearance time, and maybe they take longer at expiry because they probably had a rush on them? No big deal, I'm holding, but was just wondering when to start making phone calls to chase it up...

I've never actually converted oppies before - always just sold them.

I contacted them regarding my conversions and was told it takes 10 working days from time of chq presentation and mine changed over to the day so it should be soon

 

[JJP]

Those big sell were submitted prior to 8.30am. Sometimes that happens when overseas based traders are involved.....obviously they submit the bids/sells at the end of their day (our early AM). I feel sure the sells have come from the same existing shareholder.....and have a feeling they genuinely want out.

Share price has had a recent run up.....so no problem at all, if they want to sell. But the way its being done.... is the stuff of an absolute beginner. What would normally happen, is for the big investor to contact the company, and to discuss and with management options to exit. Ofter a buyer would be found. (company can often broker a sale with an existing bigger shareholders). Therefore the reason, you will ofter see off market crossing.

Most of the iron ore stocks keep running today.......instead of it being 90 cents, its now 70 cents. Annoying and unnecessary.

I have tried to contact the company and find out what can be done. Sent them an email. Company need to fire up to sort this out.

Forced to guess who the seller is......maybe RBC Dexia Investor.(they own 3.5 million YML shares) Huge organisation who probably think the staggered sells would not have been noticed by traders today. (GUESS ONLY)

Who are they:


Corporate Profile

RBC Dexia Investor Services offers institutional investors worldwide an integrated suite of products, including global custody, fund and pension administration, securities lending, shareholder services, analytics and other related services. With USD 2.4 trillion* in client assets under administration, RBC Dexia Investor Services ranks among the world’s top 10 global custodians.

Headquartered in London, RBC Dexia Investor Services has 4,300 employees who serve clients from offices in 15 countries on four continents. Operations are conducted mainly by RBC Dexia Investor Services Bank in Luxembourg and RBC Dexia Investor Services Trust in Canada, and their affiliates and branches around the world.

RBC Dexia Investor Services is a joint venture equally owned by Royal Bank of Canada and Dexia ”” a powerful combination that offers clients a fresh perspective on the institutional investor services market.




There are only 10 shareholders in the register with more than 1 million shares.

Forced to guess....maybe the selling is comping from global group RBC Dexia Investor, who own just over 3 million shares.

 

[Bullion]

Whoever this person is, they are doing really great job at bringing the SP down. They have a sell at 68c now and seem to have brought the other sells a little lower.

Makes no sense to me to be doing this, if they wanted to make the highest profit possible

 

[powerkoala]

Today they are capping even lower. Starting 68c to 74c.
Number of shares are still there and not changing at all.
Seems they are really serious of getting out.
I wonder why?

 

[Mozart56]

Today they are capping even lower. Starting 68c to 74c.
Number of shares are still there and not changing at all.
Seems they are really serious of getting out.
I wonder why?

Someone needs the cash fast. Can't for the life of me see an insto doing this. Bargain buying for someone. They are prepared to dump it for 20% less than Monday! Bad luck for all the 80c+ buyers. The answer is simple... it just has to bought... some barriers were made to broken

 

[Mozart56]

Someone needs the cash fast. Can't for the life of me see an insto doing this. Bargain buying for someone. They are prepared to dump it for 20% less than Monday! Bad luck for all the 80c+ buyers. The answer is simple... it just has to bought... some barriers were made to broken

Dump at any cost? Looks like it will be in the low 50's today. What is happening? This kind of behaviour is likely to spark a panic

 

[KIWIKARLOS]

There was never any real support at those levels, coupled with really bad stuff for the US it was bound to come down.

Realistically we won't here anything on marianna for a while and it will take at least 3-6 months to start drilling there for resource upgrade.

Could even go back to mid 40's IMO

 

[KIWIKARLOS]

hahahahaha and as i post that it goes back to 67!

Story of my life always in or out at the wrong time and puttin my foot in it :

 

[Mozart56]

hahahahaha and as i post that it goes back to 67!

Story of my life always in or out at the wrong time and puttin my foot in it :

True ... but I don't think our big shareholder has sold any yet! Still about 1.6M there for the taking. When they get anxious your prediction could well come true.

 

[3 veiws of a secret]

Well as I thought YML's swashbuckling charge was really there for the taking of profits, no matter how conservative your intentions are. I would not be suprised if this share as mentioned by Kiwikarlos (????) will reach mid 50's and there I think it will be beached. I'm banking on it!

 

[ALFguy]

From TheWest yesterday:

Yilgarn runs hard among iron players
10th July 2007, 8:00 WST

Size does not seem to matter. On a day when iron ore giant BHP Billiton marched steadily towards a historic $40 share price, it was a Pilbara minnow that stole the show.

Shares in Yilgarn Mining have almost doubled to 83 ¢ since last week’s announcement of a new chief executive, in the process turning the Subiaco-based iron ore explorer into a $53.6 million company.

Yilgarn’s soaring share price, up 28.5 ¢ yesterday alone, prompted a “please explain” from the Australian Securities Exchange, although all the company could muster was to point to favourable press coverage following its recruitment of new chief executive Wayne Richards “and a greater focus on the company’s iron ore prospects”.

“It is therefore possible that the recent trading in the securities of the company could be related to increased awareness of the company’s activities,” Yilgarn said.

Mr Richards, a former BHP Billiton Iron Ore executive, has been given the mandate to develop Yilgarn’s Marillana deposit in the Pilbara.

Mr Richard’s week-long tenure at Yilgarn had so far added $23.5 million to shareholders’ wealth.

Yilgarn is not alone in enjoying the investor rush for iron ore stocks.

Gindalbie Metals gained 17.5 ¢, or 15 per cent, to $1.37 yesterday on the back of a 62 per cent resource upgrade at its Mungada hematite project to 22.8 million tonnes and Atlas Iron soared 27 ¢ to $1.77 as investors recognised its chances of becoming the first of the new wave of Pilbara iron ore hopefuls to start production.

Royal Resources, 9.5 ¢ higher at 60 ¢, and Portman Mining, up 93 ¢ to $11.93, both shrugged off ASX queries, pointing to the “optimism” that had beset the iron ore sector.

BHP Billiton soared $1.29 to a new record of $38.83 as investors revalued the mining giant’s growth profile.

BHP Billiton’s record close helped the all-ordinaries index sail towards a new high, up 46.5 points to 6429.5.

PETER KLINGER

What's all this talk of the sp waddling around at 50c? Longer term this still looks like a winner.

From todays TheWest:

Analysts tip double-digit rise in iron ore prices
11th July 2007, 8:15 WST

Chinese steel makers are bracing for more expensive times after heavyweight investment bank UBS added its weight to industry forecasts by substantially raising its iron ore price targets.

UBS is now tipping the annual negotiations between the miners and the Asian steel mills will result in a 25 per cent higher price from April next year.

It had been forecasting an increase of around 10 per cent, similar to the 9.5 per cent achieved last year.

But a jump in Chinese steel production, already up 9 per cent in the first five months of the year, prompted UBS to take another look at its pricing.

“Steel production has grown faster than previously expected,” UBS said in a research note, indicating higher demand for the metal.

“This trend may ameliorate somewhat across the balance of the year and into 2008, however, we do not expect an abrupt slowdown.”

China also mines its own iron ore but this supply is hampered by low grades and a declining supply, increasing the country’s dependence on imported metal.

A 25 per cent increase would not be met gladly by the steel mills in Asia, which are still licking their wounds from a 71.5 per cent spike in 2005.

Macquarie Bank is expecting 2008 prices to rise 17.5 per cent, Citigroup has forecast 20 per cent and Credit Suisse 25 per cent.

Higher iron ore prices will have a big impact on the already impressive profits of Rio Tinto and BHP Billiton. UBS increased its profit forecasts for BHP Billiton by 8 per cent for 2007-08 to $15.08 billion and up 10.7 per cent the following year to $16.5 billion.

Rio Tinto derives a greater portion of its earnings from iron ore, currently just over one third, and UBS raised its profit forecasts by 13.2 per cent for 2008 to $10.8 billion and up by 22.2 per cent for 2009, also to $10.8 billion.

Rio’s shares firmed only 9 ¢ to $103.49 after a strong run recently.

BHP Billiton shares pulled back from their record high of $38.83 to $38.46 after setting a new intra-day record of $38.94.

The improved outlook helped some juniors higher yesterday with Midwest Corporation piling on 35 ¢ to $3.59, Gindalbie Metals finding 9.5 ¢ to $1.47 and Atlas Iron moving up 11 ¢ to $1.88.

Market favourite Fortescue Metals Group jumped $1.72 to $39.22.

REBECCA KEENAN