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Real-Time news about Emerging Met. (London Stock Exchange): 0 recent articles
|wiseacre: The point I was making was that the prior announcement triggered a 25% drop in share price which allowed the vendors (ie Dattels & Mellon) to pick up 25% more shares for their money. Entirely innocent of course.|
|wiseacre: The asset in question (in the Central African Republic) doesn't amount to a row of beans and the little local difficulty can probably be ironed out. Of far more significance are Ferrum's other interests in Cameroon and Sierra Leone. Bearing in mind that Dattels and Mellon participated recently in a private placement at 2p the fall in today's share price looks like a buying opportunity not many are interested in buying anything in this market|
|affc21: News Releases
Apr 21, 2008
INITIAL DRILLING RESULTS AT TOPA IRON BELT, CAR - HIGH GRADE IRON ASSAYS AVERAGING 63.1% FE
Toronto, Ontario Apr 21, 08, AXMIN Inc. (AXM-TSX Venture) is pleased to report high grade iron assays from initial core drilling that have a weighted average 63.1% Fe over true widths that range from more than 10 metres up to 52 metres to a maximum tested depth of 150 metres. The results are from the first batch of exploration drill holes on the Company's wholly owned Topa Iron Belt, within the Bambari Permits in the Central African Republic ("CAR").
Topa Iron Belt Slide Show
· Drilling intersected high grade iron horizons with a weighted average grade of 63.1% Fe
· The series of parallel iron horizons can be delineated by airborne magnetics for at least 28 km, suggesting a cumulative strike of the iron horizon to potentially exceed 75 km
· Previous reconnaissance outcrop and float sampling from along the Belt yielded an average of 64.3% Fe
President and Chief Executive Officer, Mario Caron comments "These initial drill results coupled with the regional sampling and airborne geophysical program demonstrate that the Topa Iron Belt has the potential scale and quality of similar high grade iron ore deposits that are currently being developed in Cameroon and Guinea, and could potentially surpass any challenges presented by its location. The significance of the Topa Iron Belt is wholly unrecognized in our current share price which barely reflects the value of the plus 200,000 ounce per annum Passendro Gold Project, of which we released the positive feasibility study results just this month.
The drill program is now moving to the Topa Hill area (East Limb) where earlier sampling and mapping has indicated potential that matches, or even exceeds that of the area drilled to date. Although of a reconnaissance nature we anticipate that this program will provide sufficient data to undertake a study to review the key economic inputs into development of the Topa Iron Belt."
The Topa Iron Belt consists of two northwest trending ranges of hills, the "West Limb" and the "East Limb" which can be traced over a strike of at least 28 km and 20 km respectively within a zone up to 6 km in width. The West Limb comprises a series of parallel iron enriched horizons, while as yet the East Limb has not yet been explored beyond one prominent iron horizon and Topa Hill. The horizons or ridges typically stand 50-100 metres above the valleys, except at Topa Hill which is believed to be underlain by folded iron horizons and rises some 240 metres above ground level. Airborne magnetic survey and geological mapping suggest that the cumulative strike length of the entire Topa Iron Belt iron horizons could potentially exceed 75 km. Surface sampling of iron outcrop and float located along all of these ridges averaged 64.3% Fe, as reported in press release November 20, 2006.
AXMIN has completed 13 core and 35 reverse circulation ("RC") holes at the West Limb and the results from the first 5 core holes are detailed here, the remaining 8 core holes and all of the RC holes are pending. The current drilling has focused on the 7.5 km strike of the central portion of the West Limb where surface mapping has identified four main ridges, underlain by massive hematitic iron. Airborne geophysics and earlier reconnaissance mapping and sampling indicates that at least two of these ridges continue to the northwest, while all four may continue to the southeast.
The four ridges lie within a 3 km wide corridor that is aligned northwest-southeast, with holes FDC 1 and 2 testing one horizon, and holes FDC 3, FDC 4 and 5 testing the another two horizon. The strike distance between holes FDC 1 and 2, and the other holes is between 5-6 km and planned drilling will focus on gaining further infill information on these zones. The program has been designed to give both broad spaced information on iron content and mineralisation style along one ridge, and also more closely spaced drilling to demonstrate continuity both along strike and at depth within about 2 km of strike.
Results indicate that each of the ridges is underlain by a central zone of hematitic iron that dips to the southwest at about 60o and typically exceeds 62% Fe and which at its deepest (hole FDC 1) is some 150 metres below surface. To date the other holes typically test the iron to between 60-80 metres vertical depth.
Initial observations suggest that the enriched iron horizons were derived from a schistose banded ironstone, with schistocity now seen as specular hematite. It is believed that the style of mineralisation is similar to that seen in Guinee (Simandou-Mt Nimba areas) and Brazil (Minas Gerais). Drilling to date has been collared close to the base of iron outcrop, with holes penetrating into the footwall of the high grade iron where initial results indicate that the enriched iron overlies banded ironstone formation of medium Fe grade (25-50%Fe) intercalated with thin schist horizons.
Drilling results on a graph, does not display correctly here, so would suggest you open the web link below (if of interest).
The drill program is now scheduled to move to Topa Hill itself which is located at the northern end of the East Limb. As reported in press release November 20, 2006 analysis of ten grab samples gave an average iron content of 66.7% at Topa Hill.
Iron is analysed by the ICP/AES method at the independent OMAC Laboratory in Ireland, with samples also tested for a suite of trace and major elements. The QA/QC procedures include the use of iron standards and duplicates, both submitted as 5% of the total number of samples.
AXMIN, a gold exploration company, offers dynamic growth with a track record of finding and developing mines in Africa. AXMIN is one of only a few companies of comparable or even larger size that has such a potential to develop multiple gold mines in west and central Africa. For more information regarding AXMIN visit our website at www.axmininc.com.
|garfield31: That is ridiculous post. They have held cash until time is right. Whether time is right will be seen but certainly better time than six months or more ago. Only have to look at share price for Affero to see how timing important over last year for this type of investment. Seems to me that they have gone into hot spot for investment.|
|barryrog: they should have announced this intention to expand their investment criteria with the results on 24/12 instead of 'sitting on their hands' for 3 months since when the share price has fallen 30%.
i don't think anyone cares what they invest in as long as it leads to increased shareholder value and unfortunately we now know that nothing is gonna happen until sometime after 8th April.
as i've said, Dattels and Mellon far to busy looking after their other interests.
|kerrie3: and maybe recent events will further delay any investment decisions which inevitably will mean the share price will continue to tick down.
|hoveactually: well the money in the bank is doing nothing for the share price as during the time its sat in the bank the share price has fallen 40%!|
|owdbuffer: What are you guys predictions on where the share price is going in the next 3 6 12 months?
There is a distinct possibility of an early rise in the share price based on Fourier Analysis but a fall cannot be entirely ruled out of the equation when the modified Leibnitz Theorem is carried to its logical conclusion. Probably!
Using the more sophisticated method of sea weed observation (known to some as the Leningrad Eyeball) we see the probability of wet weather ahead which is normally not a good sign for uranium oxide as it tends to go off and pong when it gets wet, so the converse is likely to be true.
Me? I just buy them when they look cheap then sell them if they rise, as I did this week, but technical analysis is a wonderful thing.
Hope that helps.|
|andrbea: from another thread:
SKYSHIP - 21 Nov'10 - 14:05 - 191 of 191
adyfc - perhaps read/research this favourite:
A Sunday Story of past profits and profits to come....
Jim Mellon is now seriously wealthy and a member of the Sunday Times Rich List. He is a well-known stockmarket investor and is happy to talk and write about the markets, so I feel sure many on this thread will have gained from following his plays, especially during the Kalahari, Extract, Polo game. Being human he can't be right every time, evidence the German residential property play SDIC.
Speaking personally, for me he has been a luminary for quite a few years, as it was his investment in Uramin which indirectly provided value to my investment in Galahad Gold an investment vehicle run by Ian Watson, a friend and associate of the Slater clan. Stephen Dattels and Jim Mellon had teamed up to make Uramin one of the most successful market coups of recent times.
After that coup, the duo cast around for the next joint investment; and alighted upon Kalahari. All of this is explained in the following link.
I played the Kalahari Namibian uranium game through another Dattels/Mellon investment vehicle Emerging Metals (EML). I did so because at all times the underlying value was totally transparent; and because at all times the share price traded at a discount to the underlying value of their quoted investments in Kalahari & Extract. It provided a measure of security, which, being a SIPP investor, is an element I require.
Dattels & Mellon are the majority shareholders in EML; and having trebled EML's investment in Kalahari/Extract in less than a year, they took the cash and proceeded to pay out the profits to other shareholders via a special dividend; leaving just £10m (2.83p/share) in the coffers as seed capital for the next project.
I feel sure the dynamic duo will be coming up with the next play shortly, but in the meantime they are investing the cash into pure Uranium. The charts and all the commentary suggests that the uranium investment could/should be a very profitable investment.
By buying EML you are very directly buying into the money-making skills of the Dattels/Mellon partnership; and in the short-term into the rising price of Uranium:
free stock charts from www.advfn.com|
|marben100: My "take" on the issue is here: http://www.stockopedia.co.uk/forum/view/30317/re-the-extract-complex
I don't do share price predictions but I do calculate that EML is currently trading at a 43% discount to its assets, which strikes me as rather cheap. ;0)
I do expect that its investment in Kalahari will probably turn into cash within the next two years (probably sooner). I also expect that when it does, it will be at an equivalent Kalahari share price significantly higher than the current one. Whether EML will pay any of the cash out to shareholders remains an open question. What the market will value EML at, as a cash shell, is another open question - but I'd be surprised if it still discounted the cash by 43%.
If, say, Kalahari eventually went for 350p/share (equivalent to an Extract share price less than A$15 at current exchange rates), then EML would be sitting on around 19p/share of cash. If it traded at a 20% discount to the cash, that would be an share price of around 15p.
Emerging Met. share price data is direct from the London Stock Exchange