Yamana Gold Share Discussion Threads

[noirua] 14/11/2003 01:18

After a few hours trading on the ASX., AUY recovered to 5.9 cents with 255,002 shares traded.

Report from Minotaur concerning exploration at Hawks Nest is expected shortly.

[noirua] 13/11/2003 19:03

At the close in Frankfurt on Thursday Auiron stood at 0.029 euros.

[noirua] 13/11/2003 02:11

After 3 hours trading on Thursday AUY was at 5.3 cents ( 2.25p ) with 365,463 shares traded.

At the close in Frankfurt on Wednesday Auiron stood at 0.029 euros.

[noirua] 12/11/2003 00:35

At the close AUY hit 5.3 cents on Wednesday, with 498,774 shares traded, on the ASX.

[noirua] 11/11/2003 20:03

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.

[chasepde] 11/11/2003 15:41

As a UK shareholder, it was good to have, at last, a clear printed statement on the status of the UK shares in this investment. It would be, even nicer, if the directors would now get on with the task of developing, and marketing, the considerable assets of the company(our company).
Let us hope that Felix will prove to be lucky black cat in 2004.
Cheers all. Be optimistic.

[garth] 11/11/2003 06:56

Read some of the papers received yesterday - on the power to sell unmarketable parcels. Shaft your shareholders by trashing their investment until its nearly wortkless, then force-sell their shares, then charge them the proceeds of doing so..... Crooks.

G.

[noirua] 11/11/2003 00:50

Trading at 6 cents ( 2.6p ) with bid / offer at 5.9c / 6c and 179,412 shares traded on Tuesday.

[13thfloor] 10/11/2003 16:31

Noirua, thanks for your considerate and informative posts.
My best to you.

[noirua] 10/11/2003 00:47

Hi JDA: As far as I know dates have not yet been fixed over which an average price for Auiron ( Felix Resources ) is to be obtained. When that price is fixed those whose holdings are under A$500 will automatically find themselves bought out. When Auiron mentioned 10,205 shares they appear to be doing an as now basis of the price, as it was then at 4.9 cents.
If you do not want to be bought out, if the value of your holding is under A$500, then write to the Company and tell them so. If you object and say I wish to remain a shareholder despite my holding being worth less than A$500, as far as I can remember they can't buy you out in that circumstance. The ASX rules provide rights for the company to buy the shares of those whose holding is valued at under A$500, if they do not receive any correspondance otherwise they are allowed to go ahead.

Regards Noirua.

[noirua] 10/11/2003 00:19

Auiron trading at 6.3c on the ASX on Monday morning with bid / offer at 6.3c / 6.5c and 169,365 shares traded after 2 hours.

I expect everyone has their Annual Report and Issuer Sponsored Holding Statement. Perhaps after so much having been said about expenditure the Board is now at last getting down to cutting it rather than spending the rest in double quick time.
Nothing has been said about any coal pricing arrangements for Yarrabee or the affect on the before tax profits of Yarrabee ( A$9 million last year ) with the Aussie Dollar so very strong. Also not mentioned is whether any profits from Yarrabee can be offset against past Auiron losses.
With coal prices falling both in Aussie and US dollar terms there is an increased danger of there being little profit on this aged mine at Yarrabee.

[jda] 09/11/2003 22:39

Apologies if I am wrong, but did I read on here that the company was compulsary purchasing blocks of shares under 7500?
I cannot find any reference to this in the paperwork received for the AGM etc,just mention of voting to remove unmarketable parcels of shares (whatever that may be?, but the report and accounts says it is 10205, which is a strange number).

[noirua] 09/11/2003 03:12

13thfloor: this Oxus Gold Mining Company has certainly rocketed but then so have many mining companies particularly in Australia. Market cap looks to be around £140 million if my maths are correct, which is something to watch closely and there appears to be much excitement over the floating off of part of the company. Looks like a big party going on - best of luck. ( Merril Lynch World Mining I.T. seems to have built up a holding as have their equivalent U.T., this may be good news but they can sometimes reduce holdings unexpectedly just to balance their portfolio on M.C. considerations and percentage of their portfolio as the price rises. ) The Directors seem to have been given bundles of new shares as salary recently, watch out for sales by any of these Directors, selling into bouyant markets.

Anyway the company does look more solidly placed than AUY despite being in more dodgy mining territory, heaven knows how you value it though.

[noirua] 09/11/2003 02:43

Hi 13thfloor and everyone: watch out when you say " By God, those guys know how to run a business ", thats more or less exactly what TW said about Auiron's former Directors and he was by no means alone. That simple phrase " its never wrong to take a profit " is one I forgot for a while. It took me 15 months of improving markets to make up my losses on Auiron, having invested 8 times the loss to get there. Hopefully I've learnt something from this exercise, however it may just be a few runs in Gold shares and Asian warrants which were luck rather than judgement, only time will tell.

Regards Noirua.

[13thfloor] 08/11/2003 12:01

My humble apologies. Talking of gold I have now recovered my losses in AuIron by investing in the rather wonderful OXS. Only a two bagger for me, but some early birds are sitting on a fifteen bagger. I was watching it rise all this time but AuIron put me off the mining sector. Glad I eventually bought in after months of thinking it can't go any higher. By God, those guys know how to run a business. A pox on AuIron!

[noirua] 07/11/2003 03:56

13thfloor: Noirua is Aurion backwards not Auiron. Aurion Gold were taken over by Placer Dome.

[noirua] 07/11/2003 03:47

Auiron decline further on the ASX Friday to 6 cents ( 2.55p ) with bid / offer at 6c / 6.5c and 1,795,000 shares traded.

Close in Frankfurt Thursday was 0.035 euros.

[13thfloor] 06/11/2003 13:58

Does this mean you're going to change your name to Xilef?

[noirua] 06/11/2003 00:10

Price closed in Frankfurt Wednesday at 0.038 euros.

Auiron opened at 6.5c ( 2.75p ) with bid / offer at 6.3c / 6.5c on trading at 249,588 shares.

As the Aussie Dollar strengthens to A$2.36 to sterling, profits at Yarrabee coal decline accordingly.

[noirua] 05/11/2003 02:36

Price in Australia on the ASX was 6.8 cents ( 2.9p ) and bid / offer at 6.8c / 6.9c at the close on Wednesday.

Price in Frankfurt was 0.038 euros at the close on Tuesday.

Thanks for the comments, there isn't much left to do now as RMM and supporters hold a majority holding in AUY or rather they will after cancellations of stock takes place. It's expected that the share buy-in will cost Auiron about A$1.3 million.

Sometime in the future we can expect a larger company to emerge to develop the South Australian assets as RMM are far too small. So there could be more to hold on for in the very long term.

[alycian] 03/11/2003 08:55

Noira - you're a gem. I thought that I had lost £1k but thanks to you I now know that it is only around £0.998k provided the brokers don't charge like wounded bulls! Seriously though, thanks - and keep up the good work please.

[noirua] 03/11/2003 04:20

After 5 hours trading on the ASX today the AUY shareprice stood at 7.1 cents with 353,851 shares traded.

ASX announcements concern whether you want the Annual Report and voting at the AGM - that is if your post is operating, snail mail that is.

[noirua] 02/11/2003 05:41

The number of shareholders bought out are likely to be around 5,500 who hold about 15 million shares. The cost to Auiron will be about A$1.1 million at 7.2 cents a share.

The shareprice is normally worked out over a period of about 10 days when the average price is obtained. On buying back the shares Auiron are obliged to cancel them.

No timetable has been announced as yet.