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ANU - Aconcagua Resources

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Pommiegranite

Pommiegranite

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Now...here's a microcap stock which is flying under the radar if ever I saw one.


Aconcagua are a South American Iron Sands play which are backed by Martin Place Securities.

Up 26.25% as we speak. There's hardly anything on sell side.

This is on the back of an highly important annoucement last night that their samples have tested positive and a pilot plant is now being constructed to be commisioned this year.

Any comments?
 
This was sent out by Martin Place Securities today:

Yesterday afternoon Aconcagua (ANU) released to the ASX a highly important announcement that confirms that the company is making very significant progress towards bringing its Equador iron ore project into production.

A leading US based metal smelting company, Outotec, has tested a 5 tonne sample of the ANU iron product and achieved a better than 95% recovery of the iron, titanium oxide and vanadium oxide products in the sands.

Also based on the Outotec results, ANU has ordered the construction of a pilot plant which will be commissioned in Equador in late 2007

Attached is a copy of yesterday’s market announcement.

We have invited Bill Kluckow, a fellow of the South African Institute of Mining and Metallurgy, and a consultant to Aconcagua Resources, to Sydney on Friday so that MPS clients have the opportunity to hear about the company’s progress.

MPS believes that this announcement is a very important and we’d be pleased if you could join us for a company briefing and light lunch in our office on Friday 24 August from 12.30 – 2.00 pm. If you are interested in attending, please RSVP to myself or Sarah Ross at sross@mpsecurities.com.au.

I hope that I can see you on Friday.
 
Interesting PG. I'll drop up the road and check them out. :)

I can't find how many tns of the sand they assume they might have there. Have you seen it anywhere? Lot's of ground/water, but it's an absolute pluck to try and put any $$ on them.

Why do I only get a chart record from Aug? :confused:
 
I estimated on back of a scrap of paper (info in prospectus):

440 mt of estimated resource from the 3 prospects
average 7.5% VHM = 33 mt VHM @50% Fe = 16.5 mt conatined Fe

no idea on costs to extract etc
 
Announcement today:


...land has been acquired for the pilot plant...which will be constructed by Oct/Nov. Also the metallurgist lab will be completed by September.

It seems as though this company is fastracking to production:D

Does anyone know if pilot plants generate any revenue..and if they can be easily converted into the full model easily?
 
Anyone know what's happening with this one?

Up 14% today, almost no sellers and more buyers coming in. It's hovered between 40c and 50c since re-listing, but has been picking up steadily over the last week or two to settle low-mid 50's.

Now this big jump today... Currently 65c.

Maz
 
busted a dollar. hello? why? I think they have news on a piolot plant or something, but I cant remember when.

anyone holding?
 
Someone's really accumulating this. Has been consistent and steady accumulation over a few weeks. Volumes are never very big, but there's not much on the table to buy.

Up another 23.5c today, now 1.385. I got on this at the IPO at 50c on a friend's recommendation (only a small parcel), it flip-flopped around 40-45c for a couple of months, but since then it has been up and up. I sold some at 75c to protect my original investment. I keep waiting for it to take a breather, but it just keeps on going.

Makes me wish I had bought more...

Kennas, did you ever find anything out on the ground over there?

Maz
 
I was looking at CNBC yesterday and a guy from a broking firm that looks at small caps only ( the guy not the firm) mentioned this as the best pick in the small cap sector.

Wish I'd had the cash to buy

:banghead:
 
why not just buy now? the potential of this stock is enourmous. they have vast amounts of iron sands on the beach that they scoop up and basically sift like flour and out comes the ore. its almost as good as DSO hematite in that sense. Perhaps the fact that its next to water might make it even better. Im not sure if they plan to just build a dock next to the ore or what, but if they did it would beat having to build a railroad I guess.
 
stefoid said:
why not just buy now? the potential of this stock is enourmous. they have vast amounts of iron sands on the beach that they scoop up and basically sift like flour and out comes the ore. its almost as good as DSO hematite in that sense. Perhaps the fact that its next to water might make it even better. Im not sure if they plan to just build a dock next to the ore or what, but if they did it would beat having to build a railroad I guess.
Click to expand...

I can't I'm fully committed already, doing well with PNA, BNB and MMX
and I don't want to sell any of these at the moment. I can't understand why there seems to be nobody talking about PNA !!
:)
 
I've got in at $1.42 after a good sales pitch by a broker friend. Apparently this sifting thing they have going on is extremely effective and economical... $4 price target by mid next year.

Here is hoping.
 
Just like any mineral sands co, in regards to how mining is carried out.

Pick it up, put it through a mill and then back fill your trench with the 'filtered' sand, and send off all the good bits. Ver very easy to set up.

AZC is my mineral sands hold.
 
well, as they say, the earth is 30% iron. its a matter of getting it to where you want it to be (on a boat going to china)

since we are already onthe beach, thats a good start - no railway needed. although you do want a port. that is no small requirement.

I think the key for ANU is that they want to ship Merchant Pig Iron, not ore, which will require an order of magnitude smaller infrastructure to get it on a ship.

From what I have gleaned, the sands they have are ilmenite which is traditionally difficult to smelt into actual iron. the sifting process is a snap, but smelting that into MPI is the tricky bit.

If they can prove up the MPI process, and then demonstrate what its going to cost per tonne to put on a boat... wooosh!


can anyone enlighten me as to their plans? is there port infrastructure nearby or do they plan to build their own or what?

any brokers reports to share?
 
A bit more info on the company:

From Michael West in The Australian back on Sept 5 (as an afterthought at end of article)

Managing director Franco Belli and his amigos at Acongagua Resources have pegged more than 70,000ha along the Pacific coast and appear to have early-stage inferred resources tonnage numbers of Fortescue dimensions, right on the beach. No overburden.

And a bigger article in the Australian on 12th Sept (Different Author):

September 12, 2007
EVER been to Ecuador? We hear it is very nice this time of year. No monsoons, cheap cocktails, friendly people etc.

If you ever go to Ecuador there are a couple of things Daily Assay reckons you should check out.

The first one is that because of the country's position on the equator, the sun always rises at 6am and sets in the evening at 6pm.

Without fail, as regular as clockwork you might like to say.

The other thing worth a mention is Aconcagua. Not the mountain in the Andes, which just happens to be the biggest in all of the Americas, but the little Australian resources company of the same name.

Never heard of it? There's a good chance you may well soon be very aware of Aconcagua and its intentions to be an iron ore miner of significant size.

A quick look at Aconcagua's share price chart over the past couple of weeks seems to indicate the story is getting out.

Worth 45.5 cents each when the market closed on August 28, Aconcagua scrip is now worth 75 cents a piece after closing down 5 cents today.

It's a beauty this little company, and if you thought what Andrew "Twiggy" Forrest was doing was interesting, then this takes things a step further.

Namely mining iron ore on the beaches of Ecuador at its Fierro Inca Project.

Now Aconcagua doesn't have a JORC-compliant resource yet for the project, but take it as read that there is significant potential for a sizeable resource given that Aconcagua has pegged nearly 100,000 hectares of both on and offshore tenements.
At the Cojimies prospect in the southern area of Fierro Inca, the resource estimation is for some 254.2 million tonnes with an average grade of 10 per cent VHM (valuable heavy minerals).

Most of that is in the inferred category, but hey, you can't deny the potential.

Metallurgy analysis of the sands indicates smelter feedstock of near 50 per cent iron, 27 per cent titanium dioxide and 0.5 per cent vanadium.

Mining beach sand is not an easy job, you can probably imagine the environmental hurdles the company is going to have to jump through.

But at least Aconcagua won't have to build a railway or a port because you can't get much closer to the coast than the beach.
Ecuador imports all of its steel and there is real potential given the abundant energy reserves the country has to value-add and produce low manganese pig iron.

According to its latest budget, Aconcagua has allocated about $4 million to infill drill Ferro Inca while the company moves to the "bankable feasibility status".

While the project might seem a touch extraordinary, take a look at who Aconcagua has managed to attract to the company.

Director Andrew Susaeta was once the professor of the mining department at the University of Chile and has had senior jobs with Codelco and Fluor.

Non-executive chairman John Banks has spent 40 years with KPMG, 25 years of that as partner.

Consultant Bill Kluckow spent 20 years with Richards Bay Minerals - the world's foremost producer of titania slag and pig iron from its project on the Indian Ocean coastline in South Africa.

Got the picture? It seems Aconcagua is very serious about its intentions.

Now where are those environmental approvals?

End of Article
Cheers
Maz
 
I dont get the bit about not needing a port. what are they going to load it into rowboats? at some stage the end product has to hit the water, even it is totally going to the local market.

the bit about the guy from richards bay minerals is probably the most heartening bit. here is a link to RBM

http://www.rbm.co.za/MININGBENEFICATION30.aspx

I they are already doing this, so the risk to the process is vastly reduced. this is a very good thing.


richards bay mineals has an annual turnover of a billion dollars.
 
Well, whatever issues they may be having, they seem to be doing well. Stock closed up at 1.78 on no news. Someone likes them
 
Well, I only got in a few days ago at $1.42, but I'm out today for a tidy 40% profit, They have risen over 100% in a week on no news, I'm hoping for a little pull back so I can re enter. I still can not believe todays rise when the entire market is the reddest of reds. Surprised this thread doesn't have more attention. Good luck to all.
 

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