SPH - Sphere Minerals - Aussie Stock Forums

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  1. #1

    Post SPH - Sphere Minerals

    I have picked SPH for the stock competition and was wondering if anyone knew much about this company.

    I know they have an Iron ore resource in West Africa. I'll just cut and paste the highlight.

    During the year, Sphere confirmed a resource estimate of 926 Mt for Guelb el Aouj Centre and East deposits. Of significance is the high 70% iron grade of the ore after beneficiation, which allows the production of DR pellets that can be sold as direct feed into cost effective electric arc furnaces in the Middle East (Gulf Region).

    The reason Ive started the thread (other than the fact there isn't one already) is becasue the company has reached an all time high today and there is onlt 1..yes 1 seller left at the end of today.

    It closed at $4.02 (high for the day) and the only seller has a sell at $4.95 sitting there.

    I would have liked to post this in the "Potential Breakouts" or something because I think with the lack of sellers it could really take off.

    Any thoughts on this?
    Should I have re- morgaged a house to invest?lol


    I do not hold so please do your own research
    Attached Images
    Last edited by Go Nuke; 10th-July-2007 at 07:07 PM. Reason: add Sphere webpage

  2. #2

    Default Re: SPH - Sphere Investments

    The volume on the Hammer last week might be significant for this one ...

    Reacts well in the past to relative increases in volume on white days ...

    One for the watchlist ?
    Attached Images
    All the Best
    by the tips of my fingers

  3. #3

    Default Re: SPH - Sphere Investments

    My observations:
    Sphere's share price rocketed up from $1.70 to $3.50 in May 07. Which happened to begin just after President Abdallahi took office in Mauritania. (The first democratic elected president in the country) Sphere couldn't explain the sudden rise to the ASX. Six weeks later Sphere announced Qatar and Sabic's JV. Three months further on Sabic out due to (not enough profit for the outlay below 18% at 15%)

    Qatar takes on the extra 35% up from 15% to total 50%. March 08 a new 30-year exploitation licence was approved by the Mauritanian government for the mine. End July 08 Qatar drops JV back to 15%. President removed by coup 6/8/08 then 21/8/08 Qatar out of the JV due to reported (differences in the terms of its investment). Could well be linked to the unrest in the country and/or the President.

    Qatar Steel's profits are well up. So they're not (out) due to any slow down in the Middle East as it appears.

    If Qatar went ahead with Sphere at 50% they needed to come up with US $625 million (500 for equity finance + an extra 125 (if required) for Sphere and SNIM for the benefit of the project) Qatar drops investment back down to 15% and needed to raise approx 187.5 million but soon after the coup walks away.


    Time always tells.....

    Sphere are targeting production of 7 million tonnes of DR pellets from their iron ore.
    Last edited by MR.; 25th-August-2008 at 11:57 AM. Reason: SPACING

  4. #4

    Default Re: SPH - Sphere Minerals

    On June 9th, 2016, Sphere Minerals Limited (SPH) was removed from the ASX's official list in accordance with Listing Rule 17.14, following receipt of a copy of the compulsory acquisition notice from Sidero Pty Limited.

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