You're right indeed. Here we're talking drilling results which is a better guide than rock chip samples. Fingers crossed for good results. Interest is building in this one.mick2006 said:good to hear you got in greggy, taking umc as a guide as how an iron ore stock can move after an announcement, hopefully the Marillana drill results will put YML on the map.
Check out the increase in daily volume for UMC after there rock chip samples were announced, it may be a good guide as to how YML may react after there drilling results is released.
Last sale at 23.5c. Interest is definitely building. Perhaps some traders are anticipating good results. Great potential. I've been watching this one for a while.mick2006 said:looks like a few others are now building up a stake only 220,000 shares available between .235c and .35c, the percentage move today might alert a few more traders to investigate the story behind the price action
YML is starting to move in the right direction. Good rise today with hopefully more to come. Should be an exciting Jan 07 for this stock.Jay-684 said:Bought 10,000 @ $0.20 a week ago
Bought 10,000 @ $0.235 just then
if it dips below $0.22 again before results will probably buy another 10,000
By my calculations 10km x 600mts x 60metres = 360million cubic metres. I don't know how much 1 cubic metre of iron ore weighs, by I'm guessing it's more than 1 tonne. So this tenement has over 360m tonnes of iron ore? At $100 per tonne, isn't this worth in today's iron ore rates about $36 billionAUD?YOUNG_TRADER said:Here is what I reckon will be the next JMS
4. Marillana
This project is the SPEC KILLER!
Its an Iron Ore tennement 2kms west of the Brockman Deposit (225Mt@ 60% Fe)
Its old Hamersley Ground who outline a STRIKE OF 10KM's! Grading an avg 60% Fe! Width is probably 500m - 750m and thickness of the Iron Ore is 60m
But Hamersley walked away from it 20years ago becasue the deposit is not at surface
Its covered by 50m of top soil which is bad, but given current Iron Ore prices and the Sheer location of the deposit!
Have a look at the presentations its surrounded by BHP, RIO, FMG and Hancock Mining!
Now this is Elephant Ground
This will be JMS all over again
First Pass drilling has been completed at Marillana so assays should be out soon!
These drill assays need only confirm the grades achieved by Hamersley (58%-62%Fe) and we should have a JORC soon, although it will only cover 1km of the 10km strike
Its still very early days, but this project has huge potential.gringokonyo said:By my calculations 10km x 600mts x 60metres = 360million cubic metres. I don't know how much 1 cubic metre of iron ore weighs, by I'm guessing it's more than 1 tonne. So this tenement has over 360m tonnes of iron ore? At $100 per tonne, isn't this worth in today's iron ore rates about $36 billionAUD?
Given that the iron-ore is covered by 50metres soil, which is almost the depth of the iron ore, the return at worst will be equivalent to $50AUD tonne. Any idea how many tonnes YML can extract or are anticipating to produce per year?
I bought 100K of these with the recent ruling of Fortescue over BHP, I figure if upheld through the High Court that it can only benefit YML's access to the BHP railway.
I'm quite new to the resources sector and have no idea what YML's potential annual income from the iron ore is expected to be, let alone the nickel.
I've been pretty lucky with AGM, PDZO and Redport (now Mega Uranium) thus far. I have a pretty good feeling with this one as well, so fingers crossed.
gringokonyo said:By my calculations 10km x 600mts x 60metres = 360million cubic metres. I don't know how much 1 cubic metre of iron ore weighs, by I'm guessing it's more than 1 tonne. So this tenement has over 360m tonnes of iron ore?
Whilst on YML, are traders aware that it also has a very interesting project, East Sunrise (100% interest), 35 kms south of Laverton, where historical exploration has returned promising drill intersections including 14m at 10.2 gpt gold. Further drilling is planned for early 2007. Just food for thought.dubiousinfo said:Iron ore ranges from around 3000kg to 4500kg per cubic metre. The surrounding ground could be anything from 1900kg (for sandy soils) to 2600kg (for rock).
These are just from memory and are not accurate figures.
greggy said:Whilst on YML, are traders aware that it also has a very interesting project, East Sunrise (100% interest), 35 kms south of Laverton, where historical exploration has returned promising drill intersections including 14m at 10.2 gpt gold. Further drilling is planned for early 2007. Just food for thought.
DYOR
I agree. This one could go much higher than JMS, with a number of exciting plays and plenty of cash. As I've said, I can't wait for the iron ore drilling results.YOUNG_TRADER said:This just adds more SPEC flavour to the 3 fundamental deposits I have mentioned,
And all for the bargain price of $8m (Mkt Cap $12m less $4m cash)
I'm sure that a small crap open pit operation at Carr Boyd would yield an NPV of $24m, as some have noted Marilliana could be worth many BILLIONS!
YML has a long way to go!
I thought outside the square when GSE was around 5c. Few listened at first. Then look what happened, the same I reckon will happen to this one as well as MZM. Find a overlooked situation that has enough cash to stick around, interesting situations, accumulate when no one is listening and wait. The wait could well be worth it. This stock could be a real goer on a number of fronts. At this stage I only have a small interest, but will add to it.canny said:The fact that it's flying under most radars is an appealing time to keep topping up the portfolio.
The market cap is ridiculously low, and with so much happening so soon, can't be too far from breakout alert time imo.
dubiousinfo said:Iron ore ranges from around 3000kg to 4500kg per cubic metre. The surrounding ground could be anything from 1900kg (for sandy soils) to 2600kg (for rock).
These are just from memory and are not accurate figures.
This sounds good Greggy, considering Terry Grammers knowledge of the area....... remembering HNR.greggy said:Whilst on YML, are traders aware that it also has a very interesting project, East Sunrise (100% interest), 35 kms south of Laverton, where historical exploration has returned promising drill intersections including 14m at 10.2 gpt gold. Further drilling is planned for early 2007. Just food for thought.
DYOR
Point to the $$$$$$$$$$$$$$$$$$ and you can hassle all you want.toc_bat said:Gspot - can i hassle you about your username?
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