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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Yamana Gold Inc. | AUY | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 475.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 475.00 | 475.00 |
| Top Posts |
|---|
Posted at 03/12/2020 12:36 by longview1 I guess it's because the number of transactions is so low. Though the spread is probably a factor in that, AUY seems to be under the radar as far as UK investors are concerned. |
Posted at 11/11/2003 20:03 by noirua Hi garth ans all: I generally agree with what your getting at. The present AUY Board probably see it as a cost cutting exercise and little else, there are about 8,500 shareholders and a buy-in will reduce the number by 5,800 approx. At the same time it will clear out most of the U.K. investors who are an aggravation to them.Looking further only the new Chairman really has any say and pulls the strings of the rest who are quite happy to draw a good salary, expenses and bonuses. The present MD is quite content with Brisbane as the head office as he resides there. Its not tough at the top be sure but its surely tough at the bottom. Regards Noirua - Good luck; you can always buy more, but not yet. |
Posted at 10/4/2003 10:29 by skipster Minesite – 10th April 2003AuIron Energy Is Left With Little To Do, But Count Its Cash. Whizz kid to has-been in less than three years seems to sum up the career of Aussie listed AuIron Energy since it floated on the AIM market. At the beginning of 2002 it had two major resource projects - The South Australian Steel & Energy (SASE) Project, in which it had a 90 per cent interest, and the Ballymoney Power Project in Northern Ireland. SASE aimed to produce 2.5 million tonnes of pig- iron per year from AuIron’s huge resources of steaming coal and SASE's billion tonne resource of iron ore near Coober Pedy. At Ballymoney the company intended to build a 600MW power station using coal from its 660 million tonne low-sulphur lignite open cast deposit as fuel. A demonstration plant had been constructed and was starting to produce iron when it ran into problems just as the company was due to present at Minesite’s 5th Mining Forum in April 2002. Basically what Ian Mutton, the commercial director, had to say was that the AuIron Energy board had carried out a strategic review and all was not quite as investors might have assumed. As far as the SASE iron ore project was concerned, progress was still being made, but experience gained from using Ausmelt’s thermal lance technology had resulted in extra work on development, time delays and additional costs. As a result there had been a slippage of nine to twelve months from the originally anticipated timetable.. The company would now take a more cautious route by going for a 500,000tpy commercial smelter module using commercially available third party coal and iron ore feeds. AuIron anticipated that it could make significant savings in initial project capital costs, scale-up and other risks. Once the 500,000tpy commercial pig iron smelter module was in operation, lower pig iron production costs might be achieved by switching to AuIron’s own coal. This was a pretty drastic downgrade and some time afterwards news trickled down that the iron ore grade was not sufficiently consistent for the thermal lance technology to work efficiently. While at the confessional box AuIron Energy also had to admit that progress at Ballymoney with the Northern Ireland authorities was going much slower than had been hoped. The aim was to complete the Environmental Impact Assessment, mine and power station plans and market studies that would be central to the application for project development approval. At that time indications were that this approval was likely before the beginning of 2003 and only then could real work such as land purchases and a joint venture agreement with a power generator be pursued. Not much has been heard from the company about Ballymoney since then, but at the recent AGM managing director Jon Parker predicted a public hearing on the project in the last quarter of this year. The news from Belfast is not so optimistic. In a recent newspaper article it was claimed that all the major political parties in the country have united against the project. Joe Patton, chairman of the Just Say No campaign was quoted as saying, “If this lignite mine is intended as AuIron’s saviour, the company’s shareholders are set to be very disappointed. In the face of unanimous and absolute opposition it is hard to see where the planning application can go. AuIron should do its shareholders a favour and walk away.” This is the usual biased bluster of an activist, but it does seem to have a fair degree of truth behind it. And it would not be easy for a company situated at the other end of the world to run an efficient PR programme in favour of such a big project at a time when it has just announced that it has halved the numbers of its employees and slashed its office accommodation. At the other project SASE has sold the demonstration plant and any other intellectual property to a new company called ADC which is owned by Ausmelt. SASE will have a 21.5 per cent holding in this company which will attempt to develop further and exploit its AusIron technology. This deal means that AuIron will only have to pay back about half the grant it received from the Federal Government for the demonstration plant which was conditional on commercial success. And it will also save AuIron the costs of maintaining the plant. The conclusion from all this is that AuIron has been left with nothing much to do. It does, however, have around A$26 million still in the kitty and it has its iron ore tenements, where a farm-in has been arranged with BHP Billiton/Minotaur, and its coal tenements in South Australia. Jim Wall has now retired as chairman after taking on the post after the problems were disclosed. During that time some 40 deals have been considered and discarded including a paper offer from Consolidated Minerals. Maybe the company puts too high a value on itself as a shell, but it should remember that a poor reputation is easily won, but hard to discard. |
Posted at 02/10/2002 23:54 by noirua Auiron's report of events show that the progress of S.A.S.E. - had it been continued with a Partner or Partners helping with funding - would eventually have been successful.The first reason was continued funding only by Auiron which with the present share price, or rather as it was shortly before the final announcement could never have raised sufficient funds to realise the ambition of a five module plant. The Demonstration Plant catching fire was really the final straw, coupled with the need to re-design lances and adapt oxygen supplies. This coupled with the need to start with third party coal would have caused long delays. On top of this the revising down to one module was not viable on a risk return basis. Basically Auiron Energy could not raise more or sufficient funds alone and would have been bankrupted before completion. All this does not mean all hope is lost, a partner would be able to shoulder the costs of a longer spin out of the Demonstration Plant. This could well take a further two years. In return Auiron would have to give up part of their interest. How much is the question???? After completion of the Demonstration plant phase it would be necessary to raise A$1.2 billion ( less if the plant is scaled down from that first invisaged ) for a 5 module plant. Hopefully a return to S.A.S.E. Development would dramatically increase the share price. Auiron's share of funding would be large leading to a rights issue and further dilution both of the S.A.S.E. and Auiron Shareholders. Still in the end 10% of a great deal is worth far more than 90% of nothing. So everything is not lost and a partner announced can be awaited both with interest and enthusiasm. Unread Messages: 0 Monitor Quote Charts Trades News Financials Toplists Alerts Portfolio Level 2 Wiki Free BB PBB 01/03/2012 17:59:39 Share Help Search Config Site map Level 2 Basic Level 2 For help & enquiries: +44 (0) 207 0700 961 Click here for a list of Market Participants noad By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions :: Contact Us :: Affiliate Scheme :: Authors Wanted Copyright 1999-2011 ADVFN PLC. Copyright Notice & Privacy Policy :: Privacy Policy :: Investment Warning :: Advertise with us :: Data accreditations :: Investor Relations :: Press office :: Jobs 42 site:2gb lse xel120301 17:58 |
Posted at 04/7/2002 11:59 by skipster Australian Financial Review – 1st July 2002Auiron seeks partner for pig-iron project Plans for a $1 billion pig-iron project based in South Australia have been put on the backburner after operating costs for the first stage did not measure up to expectations. Auiron Energy announced on Friday that it would cease funding the project as the sole investor and would look for a strategic shareholder to join it in the operating subsidiary SASE Pty Ltd. The decision to stop developing the SASE pilot plant and process at Whyalla coincided with the retirement of Auiron's managing director Neill Arthur, 69, who has been a champion of the SASE project. Auiron has so far spent $41 million on proving the technology and proving up coal and iron ore reserves in South Australia, including a $6.5 million START Grant from the Federal Government. It is believed one of the difficulties was the cost of drying the coal before it could be used in the patented Ausmelt top-submerged lance smelter, which was being used to produce pig iron for the first time. There are about 40 Ausmelt furnaces around the world, with all of those used for base metals such as copper and nickel. Auiron's new managing director, Jon Parker, said ``it would be a bit tough" to assume that this was the end of the SASE project. ``Auiron has taken it a long way and has done some hard stuff, but it just hasn't got the horsepower to take it further alone." He said the feasibility study on the economics of a 500,000 tonnes a year pig-iron project contained some rigorous assumptions on raw material pricing, and the local materials had not measured up for a project of that size. He said Auiron has already been approached by other companies wanting to use the Whyalla demonstration plant to test the suitability of the Ausmelt furnace for other feedstocks. |
Posted at 02/7/2002 09:57 by skipster MiningNews.net – 2nd July 2002Little beer and cheer on the slope of AuIron COMPETITION Time: Guess which Australian mining company has the share price graph which most resembles a ski slope? No, it's not Pasminco, though that's not a bad guess. And it's not Western Metals, which is also a contender. The winner is AuIron Energy, with a truly beautiful ski slope, complete with a jump just towards the right-hand edge, before a lovely tail-off into the bar for a couple of après-ski beers. Starting around the $1.25 mark in November 2000, AuIron has been gliding, almost seamlessly, to today's price of 10c, a slide best described as a "92" - and, no, that is not a point score for the perfect representation of ski slope, that is the percentage decline in price in just 20 months. On a monthly basis, that's downward movement at about 4.6% a month. Terrific stuff. Dryblower, who always admires record-breaking performances by his subjects, says, "well, done chaps, you've made AuIron a household name!" Others, especially friends of Dryblower who had their money in the company, appear to agree with the accolade of household name, though apparently not for the same reason. There seems to be a little bit of disquiet over exactly what happened at AuIron, why its share price has crashed so severely, what went wrong at the highly touted South Australian Steel and Energy (SASE) project, who knew what, when, and what on earth does London think of all this? Final point first because London is a long way from Adelaide, AuIron's home. But, London is also the place that AuIron achieved its greatest coup when listing in September 2000 on the Alternative Investment Market of the London Stock Exchange, and raising about $55 million in the process. Back in those heady days, when the share price graph was going up, AuIron was hailed as a brilliant example of what Australian resource companies had to offer London investors. Hmmmn! Dryblower wonders what London thinks today - and what chance the next crop of potential listees on AIM, especially as AuIron was the biggest ever Aussie float on Britain's junior market The official word from AuIron is that it cannot make the financial numbers work at SASE, and that this has only just become apparent. Funding has been "curtailed". Management gutted. The board thinned. Contractors given the boot. Corporate overheads cut by at least $2 million a year in an effort preserve about $25 million in spare cash - $32 million in the can today, and $7 million committed. And that, folks, brings up a final thought on the matter. The planned $2 million reduction in costs is, according to AuIron, a reduction of "approximately one third". Pardon the rude question, but does that mean that until now AuIron has been chewing up $6 million a year, and that the new figure for "general and administrative costs" will be around $4 million a year, and that the outgoings will be spent on keeping SASE in mothballs and trying to work-up a lignite project in Ireland? All Dryblower can say to that is best of luck, and don't forget to collect the ski-slope award, it might be the best thing that happens this year. |
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