AXO - Aurox Resources - Aussie Stock Forums

Page 1 of 4 1234 LastLast
Results 1 to 20 of 79
  1. #1

    Post AXO - Aurox Resources

    Noticed on another forum,rise last 2 days mim vol. Something about a Vanadium mineral deposit released 10/5 , but nothing since.Anyone know anything about them or the resourse???

  2. #2
    Hatchet Moderator doctorj's Avatar
    Join Date
    Jan 2005

    Default Re: AXO - Aurox Resources

    I can't say I'm very up to date on the company, but I did hear a story recently that they were allegedly nearing completion of their feasability study and it looked pretty good.

  3. #3

    Default Re: AXO - Aurox Resources

    Claims to have Australia's largest JORC Vanadium deposit,

    For value comparison see PMA,

    Very High risk given commodity and funding/Cap Ex requirements
    Note: I am not a Financial Adviser, nor are any of my posts intended to be financial advice, they merely express my own opinions

  4. #4

    Default Re: AXO - Aurox Resources

    A lot of the risk disappeared with today's ann YT. Today's ann of a chinese farm-in involved the payment of $53.6m to AXO for 30% of the Balla Balla project and 60m AXO shares.

    Thats approx 115% of AXO's current market cap ($47m)

    AXO has the largest vanadium mine in Australia (by a margin) with a BFS due this month. Furthermore, vanadium prices are at all time highs.

    PMA - market cap $127m (at $1.15per share)
    AXO - market cap $47m (at $1.05per share)

    PMA's windimurra resource = 56.1mt at 0.46% v2o5
    AXO's Balla balla resource = 306mt at 0.65% v2o5

    Balla Balla is also close to infrastructure and should be relatively cheap to mine. DYOR, but I think the SP still has a fair way to go in the next month.

    I hold axo and AXOO (ex price 20c).

  5. #5

    Default Re: AXO - Aurox Resources

    Hi everyone,

    Just had a read at JAN 2007 smart investors on AXO,

    A quick summary of it:

    -Operates in WA in the Pilbra reigion Balla Balla resource
    -Confirmed JORC compliant resource of 303mt grading 0.65% vanadium pentoxide
    -Possibly the largest and and highest grade vanadium resource in Aust.
    -Compare this to PMA, twice the size of Windimurra and grades are nearly 50% higher
    -Expect to start producing in 2008
    -PMA to start at March 2008 too
    -Patersons Securities' valuation of PMA is 3.67 per share about $1 premium PMA's recent share price. In light of PMA's earnings estimates Paterson's valuation looks credible, given it would represent a conservative PE multiple of about 8 times the company's 2008-09 earnings. If the multiple is used to value PMA is applied to RM research's cash-flow model for AXO, it implies that the company's share price should be about $4.80. (currently trading at 92 cents)
    -Although the figures looks great, there may be challenges to overcome production issues, fluctuation in price of vanadium. Very speculative stock.

    Recent Drilling annoucement for AXO 5/1/07

    The directors are pleased to announce the completion of the Company’s first drilling programme designed to better delineate the Balla Balla titanomagnetite mineralisation extending 11 kilometres beyond the project’s current 5 kilometre Bankable Feasibility Study (“BFS”) area. (See orange areas in attached map.) The 42 reverse-circulation drill holes (3,800 metres) were targeted to supplement the 92 holes drilled by several past explorers across the Don Well and Caine Well areas prior to 1999.
    The new 2 metre composite drill samples were analysed for key economic elements including iron, vanadium and titanium by Ultra Trace laboratories in Perth. As anticipated, the assay results confirm the exceptional widths, tenor and continuity of the 16 kilometre Balla Balla titanomagnetite horizon, which currently hosts Australia’s largest and richest JORC compliant vanadium resource and reserve.
    BBR219 30m 51% 0.89% 13.8%
    BBR223 30m 51% 0.86% 14.6%
    BBR226 26m 50% 0.81% 14.6%
    BBR232 22m 50% 0.76% 15.1%
    BBR236 28m 48% 0.72% 14.5%
    BBR254 24m 50% 0.88% 13.9%

    Commencing this month, Golder Associates will undertake 3D block modeling work to define new resources for the BFS, Don Well and Caine Well areas. The modeling work will focus on optimising the vanadium and iron mineralisation, as both products are present in economic quantities and are currently the focus of proposed off-take contracts pending finalisation of the Aurox–Chengde Joint Venture agreement. (ASX announcement September 2006.) The new block models will subsequently be delivered to consultants Orelogy Pty Ltd for calculating optimal economic and mining parameters followed by the estimation of new JORC compliant reserves. It should be noted that the current Balla Balla reserve estimate does not include any titanomagnetite falling outside the current BFS limits. Nor do the current reserves include titanomagnetite that is weathered (oxide) or has a vanadium content of less than 0.6%. The weathered and lower-grade material can however be processed and sold as titanomagnetite concentrate for steelmaking mill feed and thus will be included in the new reserve estimation. The upcoming work by Orelogy is expected to dramatically increase the reserve position of the Balla Balla project.

    I just bought in the company recently. Like to know if anyone have any thoughts about the demand and the price of vanadium.

    Attached also is a chart of AXO... any T/A mind to make some comments?

    Attached Images

    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  6. #6

    Default Re: AXO - Aurox Resources

    AXO is looking great on the charts and in terms of news,

    After falling back to the 78 cents level it has held through the correction so far because of the ore reserve upgrade. The lastest annoucement indicated it's Iron Ore/Vanadium in the BALLA BALLA project has increased by 92% to the follwing

    Tonnes Mt Fe% V2O5%
    Proved 51.2 46.1 0.65

    Probable 52.6 45.4 0.62

    Total 103.8 45.7 0.63

    Young trader i like you to give me an opinion on this mine since you are knowledgable in Fe mines. What do you think about this company?
    Though this is the only interesting project on this card. But it's got a huge reserve as mentioned before.

    Technically the MACD on this one is just crossing the 0 mark but on low volume. And a big gap in the market depth. 7.5k at 81 cent buy and then seller is at 85 cents with 9k.... seems like the buyers are chasing the news. But no interest at all in this company.

    I'll try and do an analysis on this when i have time.


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  7. #7

    Default Re: AXO - Aurox Resources

    Good news for AXO!

    Aurox Nails Down 15 Year Iron Ore Off-take

    The Board of Aurox Resources Limited is pleased to announce the signing of a
    long term Sales Agreement to supply Chengde Iron and Steel Group Company
    Ltd with 3 million tonnes per annum of titanomagnetite iron ore concentrate
    from its Balla Balla project commencing 2009.

    Chengde Iron is one of the world's largest vanadium producer!!!

    AXO has a JORC compliant reserve of over 100 million tonnes grading 46% Fe
    and 0.63% V2O5

    The BFS work to date has estimated the 3 million tpa concentrate plant capital cost to be AUD185 million, which includes all plant and infrastructure required to function as a stand-alone operation.

    currently up 11.25%

    But on low volume only. 60k exchanged with 14 trades today... Is there any reason why there is not much interest????

    Looks encouraging though. Definitely one to hold for a medium to long term in my opionion.


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  8. #8

    Default Re: AXO - Aurox Resources


    AXO has just signed a MOU with a major diversified resource company to develop the Balla Balla project.

    *The proposed terms include The Company taking strategc positions via investments at both the coporate and project levels*

    There will be much more activity on this one within the next month.

    Interesting times.

    Anyone else following this one???


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  9. #9

    Default Re: AXO - Aurox Resources

    AXO is looking really good.

    Can someone do a chart for me and see how that is technically.

    So far today up 18% on this news...

    Who is this big company singing the MOU.... really want to know.......

    But judging by the response, bigger things to come on this one...


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  10. #10

    Default Re: AXO - Aurox Resources

    I have been holding AXO for a few month. I feel consident on it as a mid-long term investment too.

  11. #11

    Default Re: AXO - Aurox Resources

    Another Great News for AXO

    The Balla Balla project keeps getting better!! With the MOU counting down and news like this coming out, surely a JV will be signed very soon. Definitely one to look out for in the following month.

    Aurox has completed a dedicated titanium recovery study on the Balla Balla “nonmagnetic tailings” material using microscopy and Scanning Electron Microscopy (“SEM”) techniques. The tailing samples represent remains from the magnetic separation process used to produce iron concentrate from the Balla Balla ore. The analysis shows the nonmagnetic tailings contain significant amounts of large “free milling” Ilmenite grains which have the potential to be processed into titanium products. Significant quantities of Ilmenite (FeTiO3) are present in the Balla Balla titanomagnetite orebody. Ilmenite is a high-value feedstock used to produce Titanium metals which are in increasing demand by aerospace and other hi-tech industries. Titanium dioxide (TiO2) is a common ingredient in white pigments used for paint and paper manufacture The long-term forecast for Titanium metal and Titanium dioxide is very bullish, with Aurox receiving early expressions of interest from several parties wishing to purchase any titanium concentrates produced at Balla Balla.
    Photomicrographs of the non-magnetic Balla Balla tailings clearly show large discrete Ilmenite grains. These observations were confirmed using SEM techniques at the University of Western Australia. The SEM study (particularly using SEM backscatter imaging) demonstrates that the Ilmenite content of all the Balla Balla samples examined was higher than the estimations determined using reflective microscopy. The Ilmenite grains are identified by their high Titanium spectra which are easily distinguished from the titanomagnetite spectra. The SEM study confirms the dominance of Ilmenite, particularly in the coarser particle size fraction, which indicates that the grains may be easily recovered into concentrate using conventional low-cost processing methods.

    A number of titanomagnetite operations in China and the former USSR produce Ilmenite concentrate from non-magnetic tailings following the iron ore concentration process. Aurox has commissioned further testwork to evaluate the most efficient process for concentrating the Balla Balla Ilmenite. Typically, the weakly magnetic Ilmenite in the non-magnetic tailings is subjected to high-intensity magnetic separation followed by flotation; a process commonly employed in operating mines. Aurox will also deliver sample tailings material to overseas equipment manufacturers who have agreed to carry out Ilmenite recovery testwork in order to secure future equipment
    supply contracts.

    Aurox commenced work on the Balla Balla Bankable Feasibility Study in February 2006, initially focusing on the development a 5,900 tpa ferrovanadium FeV80 operation. In September 2006, Aurox commenced Definitive Feasibility Study work on a titanomagnetite concentrate circuit to operate alongside the vanadium plant.


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  12. #12

    Default Re: AXO - Aurox Resources

    AXO is trying to break through the $1 mark.

    Anyone else following this little one???

    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  13. #13

    Default Re: AXO - Aurox Resources

    Looking like good support over the $1 mark for now.

    News out for AXO,

    • Yalgoo properties (100% Aurox) yield significant Iron assays
    • Initial reconnaissance sampling delineates 6.5 km by 1.5 km target zone
    • Rock chip assays up to 60% Fe, averaging 46% Fe
    • New iron anomaly located adjacent to bitumen highway, gas pipeline,
    historical rail route
    • Yalgoo township and infrastructure 11 km due west of iron anomaly
    • Geraldton Port Development at Oakagee 220 km west
    • Follow-up work to include testing of additional aeromagnetic targets

    Interesting, other than the Balla Balla reserve its got a side Iron Ore project 100% owned too.

    Looks promising.


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  14. #14

    Default Re: AXO - Aurox Resources

    News out on Updates for AXO!

    - Looks like AXO's Balla Balla is going to be negotiated very very soon!! And more parties have approached AXO, this doesn't seem to reflect on the share price yet. Though we have been waiting a while for anything to happen.

    Quote from update on 21st May 07
    "Aurox’s senior management is currently planning to meet with The Company’s Senior Executivesat their head-office with the aim of furthering negotiations toward an investment agreementdesigned to rapidly move the Balla Balla project into production.
    Aurox has also been approached recently by several new parties expressing their strong interests inparticipating in Balla Balla investment and project financing.
    Aurox will continue to evaluate investment offers to determine the most appropriate avenue to the rapid development of the Balla Balla Project and growth potential for shareholders."

    - Titanium Lab test for the tailings from the reserve is due in 4 weeks. Already dispatched 60kg of samples to the lab

    - Drilling and ground magnetics surveys at Yalgoo to commence soon they said upon avaiablility on drilling rigs.. so i say this won't commence for another quarter.

    The share price is doing something really funny.
    todays low at 84 cents and a high of 96 cents currently trading 92.5 cents.
    might look like a mighty big hammer on the charts



    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  15. #15

    Default Re: AXO - Aurox Resources

    Seems like no one here is following AXO . But with Iron play in the spot light this is definitely one to watch.

    AXO's Balla balla's succeeded in it's 76million dollar placement from both global and local investors with $76 million placement for its balla balla project. Positive news. Looks like we are getting a lot of support for this project and looks set to be up and running.

    "The issue has primarily been undertaken to allow Aurox to:
    • exercise its option to purchase the Balla Balla tenements;
    • order and pay for long lead time capital items such as SAG and Ball mills; and
    • commit to its contribution at the new Port Hedland port."

    Looks like the infrastructure and project capital will be taken care of now.

    "Aurox also advises that it plans to announce within the next week the results of its Bankable Feasibility Study for the development of a 3 million tpa iron ore operation and further information on the potential for additional iron ore concentrate sales."

    I am aiting for this BFS.. looks like shareholders are very positive on this. Shareprice has gone up from 90cents to 1.16 in the last 2 days with the highest at 1.28!!!!!!


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  16. #16
    Mod: Call me Dendrobranchiata prawn_86's Avatar
    Join Date
    May 2007
    Los Angeles
    Blog Entries

    Default Re: AXO - Aurox Resources

    AXO has been on my watchlist for about a year now, but i have never been financial enough to be able to get into them.

    very good potential imo though. wish i picked some up around 85c about 6 weeks ago!

  17. #17

    Default Re: AXO - Aurox Resources

    AXO is running hot at the moment. With BFS due next week as stated.

    Up another 14% today with strong volume 2.8Mil. It looks like this is the beginning of the run. But it has been running very hard, since coming out from suspension, in 3 days it has jumped from 90 cents to now 1.31 which is representing a 45.6% increase.
    I am sure there will be some profit taking in the short term, but medium to long-term will hopefully reach $4.80 as per the patterson's evaluation using PMA's comparison, especially with a lot of the funding problem backed by investors!!!

    Good luck to anyone who is holding!!

    I am still holding this one


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

  18. #18
    hoarding tinned food kennas's Avatar
    Join Date
    Apr 2006
    By the river
    Blog Entries

    Default Re: AXO - Aurox Resources

    Good work hypnotic. Recently broken out quite significantly. You must be stocked!!

    Bella bella looks great. Has it had it's run or is it still undervalued?

    Lonsec's research report on their web site looks pretty bullish, even prior to the recent adventures, but also before the breakout.

    Might have formed a bit of a pole and pennant there ready to break up again?
    Attached Images

  19. #19
    Pommiegranite's Avatar
    Join Date
    Apr 2007

    Default Re: AXO - Aurox Resources

    A $90 million cap raising is what has stoppped the SP in its tracks.

    However, sooner or later, when the market realises that this is in fact a major positive step for the company, the SP will be off again.

    This is another high margin play like Ferrowest.

    Does anyone have a pdf of Patterson's valuation report?


  20. #20

    Default Re: AXO - Aurox Resources


    Check out this link for Patterson's report on PMA


    if the link don;t work go to PMA's website.

    www.pmal.com.au then look under broker report and you should see it.

    I am considering buying PMA too as TTY's director is looking at buying up a stake of PMA if they can buy out ConsMin.


    My opinion is purely my own opinion and NOT yours, please do your own research. Thanks

Similar Threads

  1. HMX - Hammer Metals
    By sandybeachs in forum Stocks I-P
    Replies: 38
    Last Post: 23rd-April-2014, 11:34 AM
  2. Resources Boom - is it really a boom??
    By IGO4IT in forum Commodities
    Replies: 34
    Last Post: 20th-November-2009, 03:59 PM
  3. NGM - NGM Resources
    By chris1983 in forum Stocks I-P
    Replies: 8
    Last Post: 18th-August-2009, 12:29 PM
  4. Tiomin Resources Inc TIO.TO(OTCF: TMIRF)
    By Mackan2 in forum International Markets
    Replies: 6
    Last Post: 30th-July-2008, 07:50 PM
  5. Resources bubble?
    By resourceboom in forum Commodities
    Replies: 2
    Last Post: 1st-May-2007, 12:40 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Aussie Stock Forums