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AKI - African Iron

Discussion in 'Stocks 0-H' started by System, Mar 2, 2011.

  1. System

    System Administrator

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  2. adobee

    adobee

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    AKI could be one to watch for anyone whom has taken interest in SDL and the african plays.. DSO Hematite resource close to an existing railway, relativaley stable government area..


    HIGHLIGHTS (FROM QUARTERLY)
    ● Simon Youds appointed Chief Executive Officer, with effect from 5 September 2011. Mr Youds is a professional mining engineering with significant African and bulk commodities experience, and has a track record of taking projects from concept to production.
    ● Independence of the board strengthened with The Hon. John Moore appointed as an independent, Non-Executive Director.
    ● As at 30 June 2011, African Iron had approximately $40 million in cash at bank.
    ● ASX listed, Equatorial Resources Limited acquired a 19.9% stake in African Iron. Equatorial is exploring for iron ore in the Republic of Congo and holds an exploration permit to the west of, and contiguous with, African Iron’s Mayoko-Lekoumou Exploration Permit.
    ● Domestic (Sydney and Melbourne) and international (London, Singapore and Hong Kong) roadshow completed to update existing shareholders on the Company’s progress since relisting on the ASX and to market the Company to potential new shareholders.
    ● Mayoko-Lekoumou Exploration Permit renewal granted for a further two years and can be renewed once more for a further period of two years.
    ● Major airborne geophysics survey completed over the remaining 780km2 of the Mayoko-Lekoumou Exploration Permit resulting in an 80% increase in the aggregate exploration target size1 to 1.6-2.6 billion tonnes at 30-65% Fe. Importantly, 320-520 million tonnes at 40-65% Fe represents potential direct shipping ore (“DSO”) and beneficiable DSO.
    ● Preliminary rail study completed by global infrastructure group, Egis International confirms the underutilised, heavy haulage mineral railway that passes within 2km of the Mayoko Project can transport a minimum 10 million tonnes per annum of iron ore.
    ● Davis Tube Recovery test work on magnetite banded iron formation samples remaining from the 2010 drilling program was completed and confirmed earlier results whereby high quality iron concentrates with an average 69.3% Fe and low levels of deleterious elements are produced at a coarse grind size with high average mass yields (43.5%).
    ● Interim resource update to be completed in the current quarter and released to the market in late September/early October.
     
  3. mr. jeff

    mr. jeff

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    I am guilty of not bringing this up earlier, it came to my attention about a month ago and has given me great results so far, however I did not investigate fully before I started buying and so did not want to bum-steer anyone here. (I'm not in AKI thread to discuss my trading plan either).

    Their prospects are quite good and whilst not as massive as SDL they have a lot of strengths where it is needed, ie. the stock is going up and their ground is very close to rail transport.
    you are right Adobee, in saying that those that have been interested in SDL may look at AKI - that is where I was coming from. The main thing that attracted me was that they seem to have the transport potential and are still drilling for more, so it should be an interesting ride for a time.
    Good luck.
     
  4. Wombus

    Wombus

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    Note also that Cape Lambert Resources holds 25% in AKI, they also are entitled to $1 in royalties per tonne of ore shipped. I don't think CFE are keen to see it taken over until production starts, noting that they are expecting market cap of up to $1B based on peer comparison (http://imagesignal.comsec.com.au/asxdata/20110630/pdf/01193580.pdf CFE announcement).

    Disclaimer: I don't hold either company.
     
  5. mr. jeff

    mr. jeff

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    Quite an interesting ceasing to be subst. s/holder statement; you can see the buying they have conducted to sell into strength.

    DBS sell sheet.jpg

    I guess making 9K in a day would be nice.
     
  6. mr. jeff

    mr. jeff

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    FURTHER SIGNIFICANT DSO DRILL RESULTS FROM MAYOKO
    ● Second batch of assay results now received from the 2011 resource definition
    drilling program underway at Mayoko iron ore project;
    ● Significant direct shipping ore assay results include:
    ● MKDD039, 75m (from surface) at 58.4% Fe;
    ● MKDD041, 30m (from surface) at 56.7% Fe;
    ● MKRC052, 21m (from surface) at 59.3% Fe;
    ● MKRC040, 12m (from surface) at 61.7% Fe.
    ● Resource definition drilling has also confirmed the presence of high-grade detrital
    ore of up to 20m thick on the flanks, and at the foot, of Mt Lekoumou;
    ● Resource definition drilling is continuing with five (5) rigs currently active (3
    reverse circulation and two diamond); and
    ● Independent, global mining consultant, Golder Associates remains on track for
    the completion of an interim JORC resource update...."

    There has been very solid buying in the last two weeks, might be interesting in the future. Perhaps the company is becoming attractive to outsiders, makes a better case for IO short term production than some on the continent.

    AKI monthly 21-10-2011 10-06-23 AM.png
    Weekly chart, can expand.
     
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