G'day Synergy,
Has YT or anyone else put a value on the Nickel assets?
Have had a bit of a look but didn't see anything?
I see CB has stated in place tonnage of around 8500 tonnes but will demand underground mine etc?
Cheers
YML - Yilgarn Mining
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G'day Synergy,
Has YT or anyone else put a value on the Nickel assets?
Have had a bit of a look but didn't see anything?
I see CB has stated in place tonnage of around 8500 tonnes but will demand underground mine etc?
Cheers
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Hey Synergy,
You spoke to soon mate. Latest sale @ 130.5. Didya puta jinx on it? Maybe sell on rumour buy on fact. I own, I hold, I wait.
You spoke to soon mate. Latest sale @ 130.5. Didya puta jinx on it? Maybe sell on rumour buy on fact. I own, I hold, I wait.
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Yeah so I noticed. Thats ok though, just weaning out the weak ones. Be nice if it closes up with all this volume though.
On the nickle, No idea....
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For Irwin Hills the only option is treatment at Murrin Murrin however they'll probably only get an ore displacement agreement. Roughly speaking the only value is the cobalt, at least $133M in ground value at Coglia South (see earlier posts). What the mining costs would be I don't know.
Carr-Boyd I have trouble valuing - again, no idea of mining costs. I seem to recall earlier posts talking about $4M for the pit and $40M for the underground.
Disclaimer - I'm a cartoon cat, DYOR.
Carr-Boyd I have trouble valuing - again, no idea of mining costs. I seem to recall earlier posts talking about $4M for the pit and $40M for the underground.
Disclaimer - I'm a cartoon cat, DYOR.
Anyone care to speculate on why the big fall on YML today. Pre-market bids after the announce when as high as $1.71... now it has slid back to $1.18. I thought the 45% increase in the JORC estimate was a great announce?
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yeah strange a few iron ore companies dropping today, prob understandable after the big gains. Still im not complaining i sold at 1.35 today and got back in a few hours later at 1.20 
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well we might see 1.1 tomorrow. this is not a new thing. people get out looking for the next hot stock... more sellers than buyers... sp goes down
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Also the news is out now so there isn't much due to come out in the near future? Still wondering what the hells going on with carr boyd? are they still progressing with re-opening the mine or selling it off.
Anyone know anything about it
Anyone know anything about it
Carr Boyd has fallen silent. I get a feeling that it will be sold along with Irwin Hills. We are still waiting for some additional assay results on the untested areas within Marillana. I think these could be announced any day, as there were still 11 core samples yet to be tested.
Also an MOU with the Chinese or an infrastructure deal could be imminent now that we have a decent JORC resource.
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The annual report makes it sound like Carr-Boyd is reopening soon. A trial run using stockpiled ore means they've all but signed an offtake agreement. I'd be surprised if they didn't start mining before the new year.
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Retrace from $1.60 was predictable. I was happy that it made it past a dollar! From now on in the share price I believe will drift untill we get whiff of Jv,takeover or some serious milestones towards production. Either way I have a target price well above what it is now.:
:Pattersons have just given YML a valuation of $1.80/sh and thats giving a discount due to uncertainty of infrastructure / rail access
So still worth holding IMHO!!!
You can read the whole report here or on the YML website
http://www.yilgarnmining.com.au/ASX/YML_061107.pdf
So still worth holding IMHO!!!
You can read the whole report here or on the YML website
http://www.yilgarnmining.com.au/ASX/YML_061107.pdf
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They also said that YML's target of 100 MT is at the top end of estimates and that minimum levels required are around 75 MT. Plenty of risk involved in waiting for these resource upgrades. I think the biggest problem is that they can't really start exporting ore in the next two years and what they will have are small bickies compared to the 500MT + operations due to come alot sooner.
I wouldn't think of buying above $1.20 and wouldn't expect significant SP upgrades toward $1.80 untill these issues resolved. That said i think there will be SP spikes along the way IF they get resource upgrades.
I wouldn't think of buying above $1.20 and wouldn't expect significant SP upgrades toward $1.80 untill these issues resolved. That said i think there will be SP spikes along the way IF they get resource upgrades.
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a few highlights of that report:
Investment Highlights
• Cheap but execution required. Assuming YML executes a 2mtpa trucking
(CY10) - 5mtpa rail operation (CY11) we derive a valuation of A$1.81/sh
(DCF10%). We consider a discount is appropriate given uncertainty over
infrastructure however, on peer comparison YML looks cheap
(EV:Resources A$1.92/t in-situ versus a sector average of A$13.25/t).
• Maiden resource exceeds expectation. YML released a maiden 44mt
resource at its 100% owned Marillana Iron Ore Project (MIOP) located
100km NW of Newman, WA. This number comfortably exceeded
management’s 30mt estimate and is classified 100% Indicated under JORC.
• Positive start; now looking for critical mass. YML is reliant on securing
third party rail access and we estimate circa 70mt of mineable resources is
required to justify the construction of a dedicated spur line. YML has set a
resource target of 100mt with drilling to recommence in November.
• Strategy aimed at production. Incoming MD Wayne Richards has been
the catalyst in aligning YML with a potential development. Richards is a
career miner and a transition to mining is the stated strategy. To this end,
metallurgical, environmental, project evaluation and logistics studies are
progressing with a scoping study underway, targeting 1Q CY08 completion.
• Infrastructure options. YML is fortunate in having several potentially
feasible infrastructure options at hand. BHPB’s Newman rail line traverses
the tenement 4km north of Marillana, FMG’s open access Cloud Break line
is 35km to the north, and RIO’s Yandicoogina Line is 40km to the south.
• Striking a deal the key. Uncertainty over a transport solution has
translated to a considerable market discount on peer comparison. While we
consider a discount is appropriate, we expect third party negotiations to
accelerate into CY08, with any emerging clarity to underpin a re-rating.
I think Kiwi you underestimate the the possibility of all IO stocks increasing pending the ann of the the big 3 stocks negotiations. 10 to 20 % increase then I agree with your summation. anything great than that then YML should go higher than $1.80(wait for your input kenna)
I wouldn't be surprised at a less than 20 % increase but a new trading structure that allows the market to set prices. BHP have hinted at this.
cheers
Investment Highlights
• Cheap but execution required. Assuming YML executes a 2mtpa trucking
(CY10) - 5mtpa rail operation (CY11) we derive a valuation of A$1.81/sh
(DCF10%). We consider a discount is appropriate given uncertainty over
infrastructure however, on peer comparison YML looks cheap
(EV:Resources A$1.92/t in-situ versus a sector average of A$13.25/t).
• Maiden resource exceeds expectation. YML released a maiden 44mt
resource at its 100% owned Marillana Iron Ore Project (MIOP) located
100km NW of Newman, WA. This number comfortably exceeded
management’s 30mt estimate and is classified 100% Indicated under JORC.
• Positive start; now looking for critical mass. YML is reliant on securing
third party rail access and we estimate circa 70mt of mineable resources is
required to justify the construction of a dedicated spur line. YML has set a
resource target of 100mt with drilling to recommence in November.
• Strategy aimed at production. Incoming MD Wayne Richards has been
the catalyst in aligning YML with a potential development. Richards is a
career miner and a transition to mining is the stated strategy. To this end,
metallurgical, environmental, project evaluation and logistics studies are
progressing with a scoping study underway, targeting 1Q CY08 completion.
• Infrastructure options. YML is fortunate in having several potentially
feasible infrastructure options at hand. BHPB’s Newman rail line traverses
the tenement 4km north of Marillana, FMG’s open access Cloud Break line
is 35km to the north, and RIO’s Yandicoogina Line is 40km to the south.
• Striking a deal the key. Uncertainty over a transport solution has
translated to a considerable market discount on peer comparison. While we
consider a discount is appropriate, we expect third party negotiations to
accelerate into CY08, with any emerging clarity to underpin a re-rating.
I think Kiwi you underestimate the the possibility of all IO stocks increasing pending the ann of the the big 3 stocks negotiations. 10 to 20 % increase then I agree with your summation. anything great than that then YML should go higher than $1.80(wait for your input kenna)
I wouldn't be surprised at a less than 20 % increase but a new trading structure that allows the market to set prices. BHP have hinted at this.
cheers
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Any thoughts on what the BHP takeover of RIO (if successful) might mean for YML - in terms of iron ore prices, takeover, infrastructure access, dealings with China?
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i would be surprised if RIO or BHP "bothered" with YML. They have enough ore to keep them busy for years. fortesque i can see aquiring other miners once they establish a cash flow. JV with a asian steel maker or even takeover by asian company is for me far more likely. IF IO prices skyrocket then i hope to see alot of asian companies staking out interests in Aus. IO companies.
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Marketing report released today along with the results of the AGM and the announcement that the shareholders have decisively approved changing the name to BROCKMAN RESOURCES. It'll be trading as BRM on the ASX starting Tuesday.
I have to say I find the current name and logo more pleasing but I'm sure my affection will grow for the new one. At the end of the day, as long as the company does well, this doesnt really matter.
I have to say I find the current name and logo more pleasing but I'm sure my affection will grow for the new one. At the end of the day, as long as the company does well, this doesnt really matter.
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Interesting one, it does sometimes seem there is more love higher on the alphabetical list? Is this possible?
