Aim Res. Share Discussion Threads

[j4kes] 15/9/2008 17:50

I see the announcment on simon Jones was dated 13/7/2007. Yes 2007! any comments on why this should be reported now?

[j4kes] 15/9/2008 17:50

I see the announcment on simon Jones was dated 13/7/2007. Yes 2007! any comments on why this should be reported now?

[sagem] 15/9/2008 09:46

Perhaps its the London stock exchange is not the place to be....we are always off worse here whatever happens. No real reason to mark AIMR down by 20%.

[cinoib] 15/9/2008 09:32

up 13% in Ays but down 20% here. O dear not a place to be right now.

[sagem] 15/9/2008 08:33

CERTAINLY WORTH READING ...WE SHOULD GET SOME GOOD NEWS VERY SOON...........SHARE PRICE UP IN OZ OVERNIGHT 15TH SEPT

MUMBWA PROJECT UPDATE
Key Points
• AIM has completed Phase 3 drill requirements of Mumbwa Joint Venture with BHP Billiton
• Assay results to be reported progressively in coming months
AIM Resources Ltd ("AIM Resources" "the Company") is pleased to announce it has achieved a drilling target of 8,000m in Phase 3 of the exploration program at the Mumbwa Iron Oxide Copper-Gold Project Joint Venture with BHP Billiton in Zambia.
This marks a significant milestone in the Project.
As announced on 5 August 2008, AIM Resources has signed a term sheet with BHP Billiton on a revised JV agreement. The changes included AIM Resources' commitment for Phase 3 drilling at the project to be amended from 10,000m to 8,000m.
The 8,000m drill program has now been completed and sampling and analysis is currently being processed. Results from two holes have previously been announced, and the results from the remaining holes are pending.
Upon delivery of assay results from the 8,000m, which will fully complete Phase 3, AIM Resources will then qualify to acquire an additional 20%, increasing its interest in the JV with BHP Billiton to 70%.
BHP Billiton retains the right to fully fund the additional drilling and other exploration phases in the Project to increase its equity.
While the revised JV agreement is being drafted to include the negotiated changes, and while awaiting the assay results from this drilling, the parties have agreed to begin implementing the provisions of the term sheet.
BHP Billiton has not yet elected to commence sole funding the next drilling phase (Phase 3 B) and will not be required to make that election until AIM Resources has confirmed that Phase 3 has been completed, including provision of assay data for the initial 8,000m.
However, BHP Billiton has recently assumed responsibility for drilling operations and is currently mobilising key staff to oversee all activities associated with drilling, sampling and analysis beyond the 8,000m, until the election can be made.
Drilling, Sampling, Analysis and Results
Drilling
The 8,000m of drilling in Phase 3 of the exploration program has delivered 16 complete holes as illustrated in Figure 1.
Four of these holes did not attain their target depths due to ground conditions and operational difficulties. A decision regarding whether or not to re-drill these holes will be made in the future.
Sampling and Analysis
Sampling of the drill core is in progress, with over 2,000 samples collected to date and despatched to AH Knight's Alaskan based laboratory.
Samples are initially transported to AH Knight's laboratory in Zambia for preparation by reduction of sample mass through crushing and sizing. Sample pulps are despatched to AH Knight's facility in Alaska, where final analysis of the samples is undertaken.
Results
AIM Resources intends to release results on a monthly basis, as assay results for a complete hole become available. Some delays in the process have been experienced, however the laboratories involved have made some improvements and the turn around time is now approximately 70 days from despatch from Mumbwa to communication of results.
Assay results have already been announced for the first two holes drilled (S36-007 and S36-009) as illustrated in Figure 2, and partial results have now been received for drill hole S36-010. Remaining results to complete the set of assays for drill hole S36-010 are expected in mid September, and will be announced upon receipt and interpretation.
Use of NITON XRF Unit
In conjunction with standard laboratory analysis, a hand held NITON (X-Ray Fluorescence) XRF analyser is now being used in the field to gain an early indication of copper levels in drill holes. Preliminary work using the NITON XRF analyser has shown a positive correlation between the field tests and certified laboratory results. While the Company will not be reporting results based on XRF analysis, this tool is useful during sampling to prioritise intervals and drillholes for analysis.
Other field applications include the assessment of core from the bottom of holes to determine if the drillhole should be extended due to an indication of mineralisation caused by the presence of copper or other indicative elements. In addition, NITON XRF results can assist in designing drill patterns for infill drilling or deciding on an appropriate site to commence the drill collar.

[sagem] 14/9/2008 09:38

Yes Scott Lowe could be just the right man wanted to ensure AIM Resources progress to better achievements.....As said by the company....................................The Company is fortunate to have someone with his strong operational and development background to guide the Company through the next stages of its development.'

Just think as soon as the ZINC price starts to rise so will this share price as AIM RESOURCES HAS A WORLD CLASS ZINC MINE already to produce the goods and PROFITS. Perhaps now is the time to start topping up ready for the off.

The share price must be worth at least the following with the Perkoa Zinc mine in for nothing'-

AIM is earning a 70% interest in the Mumbwa copper-gold project from BHP Billiton in Zambia. The company's exploration strategy is modeled on an iron oxide copper-gold (IOCG) style of mineralisation similar to Olympic Dam in South Australia and Ernst Henry in Queensland.

AIM holds tenure over the Mokopane nickel-platinum project situated on the northern limb of the Bushveld Igneous Complex in South Africa. Mokopane has a JORC compliant resource and also New Order Mining Rights over the property.

[dcroston] 11/9/2008 07:39

Control1,

Its an honest and frank assessment of the situation........No spin this time.

I'm hopeful of some positive results at Mumbwa in the coming weeks.

[control1] 10/9/2008 22:06

A big part of my reason to buy this stock recently was the appointment of Scott Lowe. I am also encouraged by today's RNS re holdings - why would he get involved and why would anyone invest in something that was going to go belly up?

Only time will tell arja but I feel that you may be a bit too pesimistic, at least I hope so!

[dcroston] 10/9/2008 18:29

Come on arja, Change the record please.......I must have heard that story from you at least 6 times or more now.

I'm not even sure why you even post on here as from what I can tell you dont even hold and you not optimistic about AIMR.

Please don't feel the need to respond to this post and waste more of my time.

[arja] 10/9/2008 15:52

still slipping gradually in OZ and probably the only hope is a takeover by bigger player but it will be at a pittance . Directors will still be paying themselves well even though doing very little as that is the way of the crooks who run these small companies . If they use up the cash and become technically insolvent , it will be curtains. Sorry to sound pessimistic and hope i am wrong but I have seen this situation all too often in the past and got burnt myself once !

[control1] 09/9/2008 20:48

I have to say that I didn't buy this stock because of zinc but rather the other stuff so some further info in the near future would be appreciated

[sagem] 09/9/2008 16:43

NOT VERY GOOD FOR AIMR RESOURCES FUTURE..........

Market surplus continues to affect zinc

Tue, Sep 9, 2008

Natural Resource Market News

Zinc Investing News reports lead and zinc spot prices have dropped by 26% due to surplus.

The impact of this surplus is manifesting itself in myriad forms - mine closures, decreased production, and faltering stock prices. This week, Australian mining company Intec decided to convert its Tasmanian Hellyer Zinc Mine to maintenance only, resulting in job losses for all but a few essential employees.

[hhhold2] 07/9/2008 23:42

they have about $15m , plus warrants & burn rate of cash means they are ok for a good while, just need the zinc price to recover & then secure finance for perkoa,easy,or BHP bid for them so we can wrap this up when mumbwa spews it guts.

[jb51] 06/9/2008 14:37

dose anyone know how much cash they have

[arja] 02/9/2008 16:51

picked up a bit in OZ to 2.9 cents but no news out as far as I know .

[sagem] 18/8/2008 07:26

jb19 -...THEY HAVE HAD TO MOTH BALL THE ZINC MINE AND CANT GET ANY FUNDING DUE TO THE CREDIT CRUNCH, BUT INVESTORS ARE STILL BUYING AND WILL WAIT FOR THE RE BOUND --A GOOD FEW MILLIONS BOUGHT IN OZ

[jb19] 17/8/2008 17:26

have been away, could someone please give me an overview as to why yhis has gone pear shape left at 10p plus

[sagem] 14/8/2008 06:26

HOW ABOUT THIS THEN......TIME TO TOP UP I WONDER :-

Zinc traded at $US1,660, up from $US1,650, FRIDAY 8TH
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August 12, 2008

AIM Resources Deserves The "Most Bad News Of The Year" Award, But Plans Are In Place To Get The Company Back On Track

By Rob Davies

Most junior resource companies have had a bad year, but AIM Resources must be eligible for some kind of award, for having an especially bad one. The last year has seen rain damage at the mine site at Perkoa in Burkina Faso, a collapse in the price of the metal it was seeking to mine (zinc), a significant error in a technical report, a lawsuit from a shareholder, the cancellation of a listing on Toronto, the resignation of the managing director, followed by a law suit against him too, and, the final icing on the cake, the mothballing of mine construction. With that sort of a story the fact that the share price has gone from 12p to 1.4p is perhaps not a surprise.
What is perhaps surprising is that the company has found someone of the calibre of Scott Lowe to come in as managing director to recover the situation and set the company on a new tack. Scott comes from BHP Billiton which, while it is riding high now, has had its share of troubles in the past, so he is no stranger to the trials and tribulations of the mining game. As Scott sees it he has three tasks: clean up the existing issues, improve the business position, and develop a longer term business strategy.

In terms of cleaning up the existing issues, most of them have actually already been resolved or corrected. However there isn't much he's allowed to can say about the lawsuit, which remains a matter before the Australian Supreme Court. Scott acknowledges that there remains a lot to set right about the current state of the Perkoa project, but emphasises that the company does have a "recovery plan".

Minews put to Scott that Perkoa was simply too small to be viable, but he rebutted that by pointing out that Teck Cominco and Xstrata have closed the Lennard Shelf mine, which needs a zinc price of $2,200 a tonne to be viable. Scott says that Perkoa only requires a $2,100 a tonne life-of-mine average because the high grade offsets the disadvantages of its small size. Many observers expect other mines to close at these prices, around US$1,800 a tonne, because there is simply no point in selling metal for less than it cost to find, develop and mine it.

This is a lesson the industry ignored for too long while it focussed on cash costs and is one reason it consistently shot itself in the foot. Studies that have been made available to AIM Resources indicate that the supply response to lower prices will be sharp, but that demand will continue to grow. Citibank expects the zinc market to return to deficit by 2011, and that that will be the trigger for prices to move higher. Given that outlook, and the current weak equity and credit markets, selling Perkoa looks an unattractive option, so it makes sense to hang on to the deposit until it becomes viable again.

On paper AIM has a strong cash position. As at 1st August the company boasted US$45 million in the bank. But that will shrink to US$15m once orders and commitments for goods and services have been paid for. The Company is currently considering which strategic assets to keep on as part of its care and maintenance program, and which can be resold to maximise the cash position. Long-lead items, like the ball mill, may well be retained. Given that the current market capitalisation of AIM is only A$33 million, the market seems to be implying that the non cash assets have minimal value even though Perkoa has had US$63 million spent on it and it has a reserve of 6.3 million tonnes with a grade of 13.8% zinc. That's not something you want to give away in a fire sale, especially with promising exploration potential in the region.

What the market also tends to forget is that there are three other AIM Resources assets in Africa: a suite of exploration permits in Burkina Faso, the Mumbwa gold-copper project in Zambia and the Mokopane platinum-nickel project in South Africa. A newly signed agreement with BHP Billiton now allows for a longer time frame for drilling and evaluating Mumbwa, and the major holds options to fully fund future phases if it wants to increase its shareholding. Moreover, AIM Resources has the potential to recover 150 per cent of its costs on Mumbwa if BHP Billiton elects to fully fund a prefeasibility study. The Mokopane project is longer-term, and AIM Resources and its black economic empowerment partners are currently waiting for renewal of a new order prospecting permit on the project. The company says all alternatives are being assessed for this asset and Minews guesses that it might well be sold, if someone offered the right price.

The last year has been difficult for AIM Resources, very difficult, and Scott does not pretend otherwise. He is coming to London later in August to talk to shareholders and face the music. He will also be laying out the company's plans for the future in more detail. The direct approach he has taken so far at least suggests that the new strategy will be implemented in a sensible and straightforward way.

[arja] 08/8/2008 07:39

managed to pick up .2 of a cent on bigger volume but i wonder how long MM bid price in Uk will remian at 1.25p.

[csboyd] 07/8/2008 15:27

reading hotcopper postings on AIMR still very negative in the short/medium term .. complete lack of trust in the company ..

[graze] 07/8/2008 15:21

Have you given up Sagem or are you going to sit this one out?

[graze] 07/8/2008 14:59

If you mean the investor briefing today it's on their website - quite positive and clear I thought but the share price still down today....

[tazzie2] 07/8/2008 14:23

Does anyone have any news about our D-Day, extra extra-ordinary meeting called? Perhaps someone managed to attend down under?

[arja] 05/8/2008 21:06

sagem,
sadly , it did drop on much increased volume which is not usually a good sign. So be careful and good luck - I hope it does recover in time .

[arja] 05/8/2008 11:59

but moved down to 2.8 cents ! However, it was a bloodbath for all resource stocks last night in oz .