This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

AUM - Australian Mining Investments

Status
Not open for further replies.
Jump to new
Crayfish,

There is a market announcement to the ASX - the regulated mechanism that companies use to release market senstive data.

It was released almost a week ago now (on the 29th of June), prior to big share price moves this week.

It has all of the 'scant' information you claim they haven't provided, and the information has been authorised by a member of the Australian Institute of Mining and Metalurgy.

It includes information about the form of the copper discovered etc.

(surface oxide and native copper. In the form of malachite and azurite.
Intersected intense pyrite chalcopyrite, chalcocite, quartz carbonate in ironstone (magnetite) blah blah etc. etc.).

It also has drilling information and assay results, including some diagrams and aerial photos. This same report also has the 59 million tonne 2% ore estimate - they have not claimed it is JORC compliant.

They have provided some information about when they expect to have JORC compliant estimates of some of the deposits.

If you read through the companies historical announcements you will also see information about their Mt Norma copper suphate pentahydrate production which is a different business.

I would not call someone that refused a request to disclose information about market sensitive data before it had been made available to the market via the proper channels (and while the stock was being actively traded) irresponsible.

I suggest before you make harsh allegations against people you do your research a little more thoroughly.
 
jovialTrader said:
I received an email from commsec that my order has been purged. I've never had this before. Anyone knows why?

Hope it's not something terrible, horrible n unbearable...

JT
Click to expand...

It may be something just as simple as your order has expired. If the information is not in the email log on to CommSec and check online.

Something similar to the following would have been in the email:

"was purged by the ASX at 07:01 PM (Sydney Time)
for the following reason: Stock Purged

More information regarding this order can be found by clicking 'Detail' on this order under the 'Cancelled Orders' option from the 'Order Status' menu of the CommSec site for the next 14 days"
 
I think it could be that the shift from trading halt to suspended status means the current queue is cleaned out. When the stock comes out of suspension it'll go into another pre-open before commencing normal trading.
 
cuttlefish said:
I think it could be that the shift from trading halt to suspended status means the current queue is cleaned out. When the stock comes out of suspension it'll go into another pre-open before commencing normal trading.
Click to expand...

Cuttlefish,

Think you may be right. When SRK went into suspension they purged the queue.

Jovial should still be able to get this confirmation from the CommSec site though.
 
Re: AUM - Australian Mining Investments - Next high

1. Do u guys think it will start trading again on monday?

2. What price do we all think it will close the day on?

I will guess first - $12

(Am thinking if worth buying at market on open, for a really quick trade)
Thoughts?
 
gonna be mayhem for at least the first 30mins of trading. If the resource lives up to expectations (ie 12-17 bill in situ), then i am guessing that the price will reach between $15 and $25 by days end.
 
wow

edogg, do you think it is feasible to put an order in now at say near the top of the list, or on open at market, then put a sell order in immediately?

Is a gamble of course, but seems like it could work for a quick trade right??

Lots of people will just want in, no matter what it retraces to, with profit taking...
 
OK, here's the deal. I am not a frequent poster here (mainly because it takes too long to get a response), so my history with AUM is not known as well here. I bought AUM at 0.335 in May when the first ann regarding the resource increase came out. Because of this, my plan is simple. I am going to sell half of my stake at 10 (i'm sure that sell will be filled) and hold the rest to see how high it goes. Although I am sorely tempted to ramp the piss out of AUM to try and max the upsurge, I do not want to be in any way responsible for people's financial ruin. Re-entry at re-open is a massive risk proposition that may result in a massive profit or a massive loss. AUM's management seems a little amateurish (word is that they submitted a resourse statement that was rejected by ASX because it lacked sufficient detail), but I still believe that they have the goods in ground. If you decide to buy, DO NOT PANIC IF THE PRICE FLUCTUATES MASSIVELY IN INITIAL TRADING! There will be many T+3 traders that will have to sell immediately to pay for their shares, and there will also be many who bought in cheap that will be erring on the side of caution and selling out immediately. There will also be many new buyers due to the local and international mainstream media scrutiny that AUM has been under recently. Furthermore, If the resource is as big as has been rumoured (12-17bill in situ) then the institutional buyers may come in and buy up until whatever they have calculated is a reasonable buy price (prob between 15 and 25). My advice is, have a go, don't sell before days end, and be ready for the possiblility that you may lose.
 
Thanks mate

holy dooly, so I am chatting to a millionaire!!!
very jealous you got in, you must be stoked!!!!

i am surprised you didn't sell at $5
I want to find something like this for myself, but then doesn't everyone.
what do you like at the moment - don't worry, won't put you on too high a mantle cos you picked this one.

to be honest, if I buy in, I will be buying in without the funds, I will have to sell something if i lose - but am willing to take the chance.

not huge margins to be made now i think, reckon it will open at 10
if i got out at 15 would be happy
 
LOL. What do I like? Well, I am a fundamentals man that likes long term holds on mining companies that are either producing or about to produce, and that have a project on the horizon that has massive upside potential. So here's what I currently hold (and their key projects).

OXR - gold and copper in laos, Prominent Hill on the way $3.20

AIM - World Class Perkoa zinc mine, Mumbwa [gold, copper, Uranium (Olympic Dam style project JV with BHP)] $0.15

PLA- Smokey Hills about to produce Platinum, Kaplats (Huge platinum prospect in South Africa $0.95

EQN - Massive copper mine in Zambia (massively underpriced) 1.60

PNA - Very good Gold and Copper resources in Laos and Thailand, Possible takeover target for OXR, Soon to be ASX 200 stock. $0.33

IGR - Aldiss/Randalls Gold project about to be mined, Massive Olympic Dam style mine being test drilled in Oodnadatta. 0.21

AGM - Great nickel resourses and massively underpriced at the mo. $0.29

I believe that all of these stocks give great leverage to commodities, the spot prices of which I feel will continue to rise as China and India continue to grow. They are all either producing or about to produce, and are all either undervalued on known resources or carry consideravle upside if exploration targets are shown to be minable.

Note that my purchase of AUM was somewhat of a fluke. I had $5000 ready to put into PNA on an order for 0.30 when I saw the ann and decided to take a punt. I am not a millionaire, but at a price of $10, I have so far profited about $145,000 for my $5000 investment. This sort of profit cannot be anticipated, nor should it ever be expected. The above stocks are winners IMHO, but DYOR before investing.
 
Oh my...

Alot of speculation going on here..

Someone says AUM shareholders are all been cheated, others says it'll go up and hit $25 soon (There'll be a fluctuation though)

I'm just chewing my fingernails and waiting for the ann. I wish I have 100 fingers to chew over the weekend.. It'll be a long long weekend.
 
a fluke? I don't think so edoff75. I have a lot of shares in CTO. what does the guru think they will reach after production?
 
cuttlefish said:
they have not claimed it is JORC compliant.

They have provided some information about when they expect to have JORC compliant estimates of some of the deposits.
Click to expand...

Thankyou for the clarification cuttlefish. I would most certainly have done my homework more thouroughly if I was able to open pdfs from my browser, but for whatever reason it isn't working. If someone could post a link so I can download the pdf it would be much appeciated. Anyway, this is not an IT forum so let us move on.

My understanding is that if a mineral resource is not JORC compliant then it cannot be announced to the ASX. I seem to remember something of that nature in relation to an aspiring SA U company last year...What is the difference here? Correct me if I am wrong.
 
thanks edogg
i'll look into them, look sound though
pulled out of all but eng and imp - a voip co and a gas exp
- engin should double in sp in next 6 months, leading voip co, breakeven approaching, bpl - 26c
IMP has a lease in california, 10 well program tested so far, commercial quantities in all - next 10 drilling to start soon, 1st ten to be hooked to main this month i think

Once again, nice one with aum

sangshim - guess the open and close for aum - go on...
And will it be monday trading again, thats the big question
 
newgirl, I do not know that much about CTO but some learned friends of mine are very keen holders of it. At a glance it seems undervalued on the basis of its resource base, but its projected production of 40,000oz/year seems somewhat small. Not a lot of risk, but at a glance, limited upside unless they can ramp up production. Projections indicate that this is the plan, so I recommend that u hold and accumulate (when the price looks good) with a view to getting to $1.50- $2.50 by 2008. I am very bullish on gold, but what I have estimated is (in my view) a conservative estimate. GL.
 
With AUM having gone thru the roof, URL still seems relatively cheap as it is next door to AUM'S ground and already has the significant Roseby Copper Project which is likely to be in production by 2008. It also has Xstrata on board as a significant shareholder. The past week I felt like buying AUM at much lower pricer (yes I missed out) but came across Universal Resources (URL) and bought them instead. Hold on to your hats could this be another Poseidon boom?Good luck to those who have already made a big fortune.But always do your own research.
 

I think you're right - the ASX rules state that resource estimates must be JORC compliant unless for reasons of continuous disclosure and with prior discussion and approval by asx. I misread the AUM statement, I'm pretty sure what they mean is they are hoping to upgrade from JORC inferred status by end july/early aug - so current estimate is JORC inferred.
 
Status
Not open for further replies.

Similar threads

R
The Financial Endgame
Replies
18
Views
9K
qldfrog
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...