Yamana Gold Share Discussion Threads

[rafthorney] 03/7/2002 10:45

I thought mr arthur was going to lead the company forward?!

[edgarssoni] 03/7/2002 09:03

Now a buy at 4p ???

[edgarssoni] 03/7/2002 08:58

Directorate Change

AuIron Energy Ld

3 July 2002

BOARD APPOINTMENT

AuIron Energy Limited ("AuIron") announced the appointment of Mr Jon Brereton
Parker (53) on 28 June 2002 as Managing Director with effect from 1 July 2002.

Jon was formerly Executive General Manager Project Development for Hamersley
Iron, the Rio Tinto Limited iron ore business. He holds a degree in Physical
Chemistry and Business Administration from the University of Sydney and Curtin
University respectively.

During his career he has been responsible for the acquisition of the Marandoo
and Yandicoogina iron ore resources, development of the Channar Iron Ore mining
Joint Venture with China for Hamersley and the Hamersley Baosteel Joint Venture
negotiations.

Since joining AuIron in January this year, he has played a key role in assessing
the Company's projects and leading the resulting business case studies.

Mr Parker has held previous directorships over the last five years with GPS
Energy Limited and GPS Power Limited.

Mr Alfred Paton, Chairman of AuIron expressed his confidence by saying, "Jon is
the best man to take the company forward, his qualifications and experience
equip him in his new role and his priority will be to realise value for
shareholders."

There are no further matters that fall to be disclosed pursuant to Schedule Two,
paragraphs (f) (ii) to (viii) of the AIM Rules of the London Stock Exchange.

CONTACT DETAILS

AuIron Energy Limited

Phone: [phone]

Facsimile: 61 (0) 2 9368 1313

Mr Joe Fontana Mr Jon Parker

CFO & Company Secretary Mobile - 61 (0)408 921 551

College Hill

Peter Rigby

[phone]

This information is provided by RNS
The company news service from the London Stock Exchange

END

[13thfloor] 03/7/2002 08:39

Are people finally noticeing the stupid levels of cash burn here?

[noirua] 02/7/2002 22:24

Goggin: Probably a fair comment the way the price has gone. As S.A.S.E. is stalled lesser management are required. No S.A.S.E. unless someone else supplys the cash and expertise. Ballymoney if it gets a go signal will be financed by others. This will leave Auiron with a quite small stake in each project. 16 billion tonnes of coal for sale could be the saviour here.

[skipster] 02/7/2002 08:57

MiningNews.net – 2nd July 2002

Little 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.

[noirua] 02/7/2002 00:44

13thfloor: have you read the recent release by One Steel on Risk Assessment of their plant in Whyalla. Should you read the 18 page report you will see the eventual potential for S.A.S.E. is an absolute must as to being ready by 2006 at the latest.

[13thfloor] 01/7/2002 08:25

Average down? lol, I think not!
Read the RNS, Quick summery : You've done your dosh, we're going home.

[noirua] 29/6/2002 16:37

Shareprice back to 1999 levels. For those with cash they do not need the time to average down has come.

[shotoshi] 28/6/2002 12:14

Have never owned this share but have watched it since 2000 when TW tipped it on T1ps. Has there been a dilution of the share capital? In a nutshell, what's the story?

Is TW still urging people to buy at this price? Is it what he would call a raging buying opportunity?

[tony979] 28/6/2002 08:34

I see this as good news in the majority. We already knew they were scaling back at SASE and to reduce risk in this market is sensible. The good news is that the balleymoney project is full steam ahead.

[rafthorney] 28/6/2002 08:16

Yes Mr Arthur,thank you for taking the big salary and any pay offs, and diminishing share holder value until its almost gone.Rats and sinking ship spring to mind!!!!Why don't we just sell the iron and coal and get some money back?

[13thfloor] 28/6/2002 08:09

Well, heres your "opportunity", only 5 hours later.
Down 18% this morning.

Farewell, then Mr. Arthur. He certainly talked a good game, if nothing else.

[noirua] 28/6/2002 03:00

Gadge: In the short term the price could only fall to 3p, which is the sale price by Equitable Life recently of 5.7 million shares. If the opportunity arises to buy at around 4.5p - 5p it may prove a good averaging down point with financial markets in some dismay.

[gadge] 28/6/2002 00:43

I purchased 10,000 of these shares as a speculative punt back in August 2k1 @ 30p each!! With the Balleymoney news in mind....not been very fortunate and 3k has fallen to approx 500 quid in value. Not worth cutting my losses so hoping for some upturn in the future....am I wasting my time?

[noirua] 24/6/2002 02:53

Auiron's CEO has indicated that their will be no float of Ballymoney in these depressed markets. Planning permission being granted and a new partner having been chosen would pave the way for this. Obtaining planning permission will be a long haul and no announcements are expected this year. The share value once put at £1 per share will have been greatly reduced in present tough markets. Two prices here, probably 1p or 10p per share.

[david2000] 20/6/2002 12:38

Winterfloods trying to get this down, think the stock overhang must be clear. They are not succeeding

[noirua] 20/6/2002 03:32

Aussies have the bit between their teeth on this one as trading goes much higher than in London. From Big Bear to small Bull calf as the phoenix Auiron rises from the Ashes of the S.A.S.E. Demonstration Plant.

[noirua] 19/6/2002 01:40

Encouraging trades today, maybe M.M's have shares to sell after the Institutional sale which I believe has come to an end. The march forward will come soon, do your own research before buying, then fill your boots.