Mozart, it was a 10k unit trade that took out 59.5 at the bell.
Any thoughts on why the price movement today?
YML - Yilgarn Mining
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Mozart, it was a 10k unit trade that took out 59.5 at the bell.
Any thoughts on why the price movement today?
Rumours on HC that FMG have a draft rail line to YML's Fe deposit? Apparently it appears in FMG's quarterly but the dots have only just been joined. Can't think of anything else.
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Ann out for all followers/holders,hers the headline
Resource drilling confirms grade and continuity of mineralisation in North-West
Sector with best results including:
o 32m @ 58.6% Fe in MRC025
o 31m @ 58.5% Fe in MRC031
o 33m @ 58.3% Fe in MRC033
· Average intercept thickness 27% greater than previously reported drilling.
· Infill drilling program more than 75% complete with an initial JORC compliant
resource scheduled to be completed in October 2007.
· Sonic core drilling program completed, with ore characterisation testwork in
progress.
· Additional RC drilling rig secured for expanded exploration program targeting an
iron ore mineralisation potential of at least 100 million tonnes over the next 12
months.
Resource drilling confirms grade and continuity of mineralisation in North-West
Sector with best results including:
o 32m @ 58.6% Fe in MRC025
o 31m @ 58.5% Fe in MRC031
o 33m @ 58.3% Fe in MRC033
· Average intercept thickness 27% greater than previously reported drilling.
· Infill drilling program more than 75% complete with an initial JORC compliant
resource scheduled to be completed in October 2007.
· Sonic core drilling program completed, with ore characterisation testwork in
progress.
· Additional RC drilling rig secured for expanded exploration program targeting an
iron ore mineralisation potential of at least 100 million tonnes over the next 12
months.
Marillana Update
"The Company has upgraded its exploration objectives, with the Company planning to significantly expand its drilling activities with the objective of delineating an iron ore mineralisation potential of at least 100 million tonnes at the Marillana Project"
Great news and now the sp is surging up to 64c already, sellers not showing there hands yet.....
"The Company has upgraded its exploration objectives, with the Company planning to significantly expand its drilling activities with the objective of delineating an iron ore mineralisation potential of at least 100 million tonnes at the Marillana Project"
Great news and now the sp is surging up to 64c already, sellers not showing there hands yet.....
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Hey it looks good to me, I would like to see YT back to give his take on it. The rollercoaster going up again so hold on!
indeed, great news, at 30mt, we had support at around 40c, now we have more than doubled the estimated resource. anyone see this one hitting 80c soon?
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back to old times.
resistance 68c and 70c still there, fellas.
have to clear this two then sp will run to 80c area.
i reckon today news is great for YML.
resistance 68c and 70c still there, fellas.
have to clear this two then sp will run to 80c area.
i reckon today news is great for YML.
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118k shares just went through at .68 so that resistance is looking shaky. Could be bargain of the day is this continues to run?
already pass the 70c resistance............., will least get to a dollar at the end of the yr if there's no big crash like the Sub-prime mortgage
Is triple the resource worth triple the price? If so then maybe north of a $1? Looks like it could be a while before we know just how much Fe there is! Even at $1 market cap YML is only $70M with $4m cash. Anyone care to speculate on what JORC of 100MT might be worth with a rail line running through it?
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Wooooooooooooooooooooooooo Hoooooooooooooooooooooooooo Might finish up August on a good note i nearly wrote August off as a big loss
Might finish up August on a good note i nearly wrote August off as a big loss Sweet, I like what I'm seeing so far but let's keep our fingers crossed that it can hold its position and not go tumbling back down to the 40s/50's as we've seen it trade these past few weeks and months.
Was anyone else watching the robotic-style trading yesterday? At one stage packets of approx $100 were being bought up every 6-7mins for an hour or two, with some large buys in between. Is there any technical term or explanation for this?
Was anyone else watching the robotic-style trading yesterday? At one stage packets of approx $100 were being bought up every 6-7mins for an hour or two, with some large buys in between. Is there any technical term or explanation for this?
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Not 100% certain, but I think I recall that YT made some reference to other iron ore juniors' values earlier in this thread and it seemed the inground value of iron ore worked out at about $4 per tonne.
From my understanding of the release, the 100MT minimum is for the whole of Marillana, not just the NW sector. The NW sector will probably have about 40MT in the JORC to be released in October. Proving up the 100MT is a long off - probably late next year.
Also, looks like they're going to change the name to Brockman Resources which seems to indicate that they will continue to be a mulitplay rather than iron-ore specific.
Day traders starting to sell up judging by the drop in SP over last 1/2 hour.
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it is getting hard to pass 80c area due to market volatility.
once (if it happens) xao break 6200 resistance, then we can reassure that this sp will be in there.
from now, i think it will be in area 65-70c.
cheers
once (if it happens) xao break 6200 resistance, then we can reassure that this sp will be in there.
from now, i think it will be in area 65-70c.
cheers
I thought that 100MT excluded the untested magnetic anomolies which are yet to be drilled. At $4T inground value, that would value the deposit at $400M or nearly 10 times the current market cap. That excludes the Nickel resources too. What do you think?
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Mozart, I'm pretty sure it's the whole of Marillana. The media release says proving up a minimum of 100MT over the next 12 months. They're releasing the NW JORC in October and drilling in the other sectors over the next 12 months, so given their conservative nature in estimates to date, I reckon the 100MT should be easily exceeded by the end of next year.
I think it's important that people don't start expecting the 100MT by October this year, otherwise if it comes at its expected ~40MT, the negative sentiment will kill the SP.
On HC, I've copied something from Needle. This person seems to be pretty knowledgeable on iron-ore juniors and provided the following response to someone's query about the quality of YML's ore. You'll note that he/she has also made a comparison with MGX. Hope Needle doesn't mind me copying his/her reply on this forum.
This is the same grade, or type, of direct shipping grade produced at large BHP and RIO mines such as Yandicoogina and Yandi. Collectively known as yandi fines.
Read here to better understand:
Sintering - which removes water from the ore (a normal part of steel manufacture).....upgrades the ore to around 64%FE. In view of what seems to be very credibile and honest management......this is one of the best stock exchange announcments I have seen (relative to the present market cap of this company).
By way of example.....MGX have a total of 100MT of resources and reserves from 3 deposits after years of exploration. A company 20 times the size of YML
As you can see, just on Marillana, YML seems to be very undervalued compared to MGX, not even considering the nickel potential. Still, I don't know enough about MGX to know if it's a fair comparison.
Yeah, I'm very familiar with Needles posts - all good stuff. You are right in that we can expect a 40MT JORC in October and I presume that they will keep drilling until they reach 100MT JORC which could take us into next year (depending on how prosepctive the undrilled areas are) If they can hit this mark then obviously the leverage they can apply with respect to infrastructure will be much greater. MGX has a market cap over $1B - so if Needle is even close to a reasonable comparison then anyone selling off today must be in deparate need of $$.
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Every time I look at the gravity survey, I can't help but think there's a lot of potential in the other 7 zones that YML is yet to drill. Some of the pre 2006 drill collars just touched some of those red and orange areas, which seem to be the productive zones in the NW sector. By my rough calculations, those 7 other zones are about 12 times the size of the NW sector which has the 30+MT, so in my mind, I'm convinced that 100MT is well below the tonnage in Marillana.
I wonder if there's any ore under the BHP line? If there is, should YML be 'compensated' by BHP for its value? BHP is fighting the court ruling to not allow 3rd party access to its infrastructure, but if it had to 'compensate' YML, I wonder if it would offer 'reasonable' access to its locos and railway as a trade off?
Like you, I wonder about people selling off when there's so much potential for SP appreciation. I guess day traders need to buy and sell to make a living, whereas my plan is to hold these shares until YML is producing. Still, each to their own. The share price will firm once the JORC compliance is provided, seems quite a few buyers aren't prepared to buy on a company's 'estimate'.
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Hi guys I have to be quick today because at another office borrowing someones PC,
Industry AVG EV for Iron Ore is $5 per Fe /t
However YML's is not at or near surface, its 50m's below, so I will penalise this EV to say $3.50/t Fe
So assuming they come up with 100Mt's@60%Fe = 60Mt's Fe
@ $3.50/t Fe = $210m EV
YML has roughly 85m shares fully dilluted, so would = $2.50
This give you a rough ida of the upside
Industry AVG EV for Iron Ore is $5 per Fe /t
However YML's is not at or near surface, its 50m's below, so I will penalise this EV to say $3.50/t Fe
So assuming they come up with 100Mt's@60%Fe = 60Mt's Fe
@ $3.50/t Fe = $210m EV
YML has roughly 85m shares fully dilluted, so would = $2.50
This give you a rough ida of the upside
This also excludes Carr Boyd, Irwin Hills and all their other tenaments. Some very nice diversification to add to the Fe. Is YML shaping as future diversified producer?
