new on the asx, any opinions? up 13% today
new on the asx, any opinions? up 13% today
I was looking at investing in the IPO, however decided to go with a uranium company soon to list. Kicking myself!
Personally was not suprised with the results after the first 2 days trading given the calibre of the main investors. IMO i think this will be a good company over the next few months, however i am no expert!
damn should have bought into IBG, up another good amount today
Bought into the IPO and got out today, what a welcome gem.Originally Posted by Alfredbra
Anybody out there know why this stock is doing so well for no apparent reason?
This company has had a stellar preformance since listing in aug 2006, does anyone know much about this companies tenements and prospects? Also what about the tin/tungsten off-shoot Wolf Minerals that has just started their IPO?
company acquires massive zinc deposit in greenland
17 million tonnes at 7.8% zinc
market has responded accordingly - up nearly 50%
something doesn't necessarily have to be proven to 'actually' exist to have an effect that mimics the very likelihood that it does
Nobody interested in this stock?
There never seems to be any discussion despite going from 20c to $3.10 in 7 months.
More Greenland Projects announced. These prospects are the most northerly known deposits in the world up at around 84 degrees North latitude, only 600kms from the pole. Only a 5 month window every year in which to conduct field work.
Contrary to what people think of this part of Greenland the area is not cover by ice all the time but is described as "arctic desert".
Field investigations to begin 2nd -3rd week of June.
From 20 cents to $4.20 in 9 months. Can't believe more people aren't interested in this stock.
More information. IBG geologists and field crew will be deploying into Greenland on 22nd of June to begin work on the Citronen Project.
I have been trying to come up with a value for IBG. Not sure if this is the best way as NPV is a more common way of valuing as it takes into account the time value of money.
Below is a analysis for Citronen alonebeing their major project:
17,000,000 tonnes ore @ 8.3% Zn equiv.
= 1,411,000 tonnes Zn @ $600 USD per tonne profit.
=$997,294,800 AUD ( @ 1.178 convertion from USD ).
=$16.96 per share when fully diluted ( 58.8 million shares/options)
Of course I've just used $600 profit per tonne as a figure because I have no idea what it would be higher or lower. But with the share price currently over $5 it leaves alot of room for the cost of recovery to go higher before it brings the price/share down close to where it is now. And also the fact that there was $21m cash helps the estimate as well, but thats not factored in.
Anyone care to comment?
I had this stock for a little while and sold on the announcement of the citronen purchase, although it all looks good, I was unsure of how easily it would be to get the ore out of the ground and transported in an area that is covered by snow for a large part of the year, and it also looks very close the the ocean, possibly causing other problems maybe like cigar lake.
I'm certainly no geologist, I just saw it as being reasonably risky so I took my money out hoping for a fall, but it has just kept going up. I learnt a major lesson the hard way with this one, the trend is your friend
I see being close to the sea as an asset. The nearby deepwater fiord offers shipping potential during summer months.
I could too, but I didn't have enough time to research it properly , so I took my profits, which is better than taking a loss, so I cant complain. This has great potential and just keeps going up and up.
IRONBARK ANNOUNCES WORLD CLASS ZINC RESOURCE
Ironbark is pleased to report a strong resource upgrade of its wholly owned Citronen Fjord Zinc Project (Citronen) in
Greenland, with recent exploration at the Project resulting in an increase in contained metal of more than 130 per cent,
equating to approximately seven billion pounds of zinc.
"Ironbark is pleased to release an updated resource estimate for the 100% owned Citronen zinc-lead
project in Greenland based on results from 2008 exploration drilling. Results released during the
season have reinforced the companies view that Citronen is a truly world class zinc (Zn) - lead (Pb)
deposit with strong development potential.
Contained Zinc and Lead resource hosts in excess of 10.5 billion
pounds of metal"
Would I be wrong to assume that they have done JACK over the past year ??
The next step would be to turn it into a mine, or sell it, or keep on defining the resource....
from a good source they r working rtheir **** off up greenlandway.
a nice cold war airstrip to bring in any planes too.
Anyone following IBG.. notice from there presentation today Glencore is holding a good size stake.. Hearing they have potential of worlds biggest zinc resource ? Seems to be on a break out.. no real news as yet to substaniate why ..
SSC GTE NDL SLT EKA AVI