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MIN, MINERAL RESOURCES LIMITED
blacksheep
post Posted: Mar 7 2019, 08:17 PM
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Posts: 5,604
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In Reply To: blacksheep's post @ Dec 18 2018, 11:56 AM

FWIW - Morgan Stanley's target for MIN

QUOTE
Morgan Stanley also suggests the market is ignoring the iron ore leverage of Mineral Resources ((MIN)), likely because of a lack of detail in the reporting for the mining services division. The upgrade to the broker's iron ore price outlook substantially lifts earnings estimates for the business. Morgan Stanley maintains an Overweight rating on the stock with a $20.80 target.


Total short positions as at 1 March 2019 - 1.37%
https://www.shortman.com.au/stock?q=min
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 18 2018, 11:56 AM
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In Reply To: blacksheep's post @ Dec 14 2018, 07:13 PM

Updated chart.
SP currently $16.10.
Short positions @ 11/12/18 = 3.18%
https://www.shortman.com.au/stock?q=min
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 14 2018, 07:13 PM
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In Reply To: blacksheep's post @ Dec 14 2018, 02:03 PM

14 December 2018
Execution of agreement to facilitate sale of 50% of Wodgina and joint venture with Albemarle

QUOTE
Mineral Resources Limited (ASX: MIN, MRL) is pleased to announce that it has today entered into a binding
Asset Sale and Share Subscription Agreement (Sale Agreement) with Albemarle Corporation (NYSE: ALB,
Albemarle) in relation to the sale of a 50% interest in the Wodgina Lithium Project (Sale Interest) and
formation of a 50:50 joint venture that will produce spodumene concentrate and lithium hydroxide
(Wodgina JV).

The execution of the Sale Agreement follows the announcement of the signing of an exclusivity agreement
and commercially agreed key terms with Albemarle on 21 November 2018 which was the culmination of a
global sale process that generated strong interest from a range of global participants in the battery
minerals and chemicals value chain.

Transaction overview
Under the Sale Agreement, Albemarle will purchase a 50% interest in certain tenements, assets and related
infrastructure, together comprising the Wodgina Lithium Project, and on completion will form a 50:50
unincorporated joint venture with MRL as outlined below:

Key sale terms
ï‚· Purchase price for the Sale Interest of US$1.15B in cash payable upon completion of the sale of the
Sale Interest (subject to certain completion adjustments).

ï‚· Albemarle to acquire a 50% interest in all mineral rights within the Wodgina tenements other than
iron ore (which will be retained exclusively by MRL) and tantalum (which remain held by Global
Advanced Metals Greenbushes Pty Ltd) certain MRL owned fixed infrastructure and utility assets,
the spodumene concentrate plant and the mobile mining equipment.

ï‚· Completion of the sale and formation of the Wodgina JV is subject to conditions precedent relating
to regulatory approvals, including Foreign Investments Review Board (FIRB) and Chinese anti-trust
approvals (as to which see further below) WA Ministerial Consent and the consents of certain third
parties with interests in the underlying tenements, as outlined further under ‘Additional
Information’.


full details - https://www.asx.com.au/asxpdf/20181214/pdf/...80g494v8gcy.pdf



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 14 2018, 02:03 PM
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In Reply To: blacksheep's post @ Nov 22 2018, 09:35 PM

Trading Halt
QUOTE
Mineral Resources Limited (ASX: MIN/the Company) has requested the ASX place the Company into
an immediate trading halt pending an announcement to the market regarding execution of definitive
documentation with Albemarle Corporation relating to the Wodgina Lithium Project.


The trading halt is requested until the commencement of trading on Tuesday 18December 2018 or
upon release of that announcement.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Dec 5 2018, 03:35 PM
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Posts: 5,604
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In Reply To: blacksheep's post @ Nov 28 2018, 06:43 PM

Multiplex heir Tim Roberts buys $30m stake in Mineral Resources
Peter WilliamsThe West Australian
QUOTE
Rich lister and Mineral Resources director Tim Roberts has emerged as the buyer of a $30 million stake in the mining company.

A declaration to the Australian Securities Exchange today said Mr Roberts acquired the stake through an off-market transaction on November 28.

It had been reported last week that brokerage UBS was seeking a large chunk of shares on behalf of a buyer.

Mr Roberts through his private company Kingfisher Capital paid an average price of $14.80 a share.

The stock price has fallen 30 per cent this year.

The purchase gives the son of the late Multiplex founder John Roberts a stake of about one per cent in Mineral Resources.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 28 2018, 06:43 PM
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AFR suggestion is UBS was calling around looking for a " few hundred million dollars worth of shares"

Big buyer seeks Mineral Resources stake
QUOTE
It's believed the buyer is an "insider" with market sources pointing towards one of the company's cashed-up directors. Multiplex heir and Perth billionaire Tim Roberts joined the board two years ago, while natural resources banker James McClements took up a seat in 2015.

read more - https://www.afr.com/street-talk/big-buyer-s...20181127-h18fsh

SP was up 5.35% @ $14.96

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Nov 23 2018, 01:44 PM
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In Reply To: blacksheep's post @ Nov 22 2018, 09:35 PM

Includes valuations by MS, DB and OM
Global Lithium Spotlight Falls On Wodgina
Australia | 2:11 PM
QUOTE
Wodgina, the hard rock lithium project, has found the global spotlight as Mineral Resources announces a JV proposal from Albemarle.

-JV plans to develop lithium hydroxide production at Wodgina
-Fully unrisked the proposal offers around 90% of Morgan Stanley's valuation
-FY19 earnings guidance below forecasts

https://www.fnarena.com/index.php/2018/11/2...lls-on-wodgina/

Joe Lowry doesn't appear as "glowing" in his assessment of the deal

QUOTE
Joe Lowry@globallithium

Would caveat this by saying Wodgina isn’t near term lithium chemical supply, $ALB brings little to the table in terms of project execution. More like, if the deal proceeds, Christmas comes early for $MIN & $ALB demonstrates they have degenerated to complete disarray.

Unfortunately $ALB is the least competent operator among the “Big 4”. Their struggle with LaNegra II, the fact they don’t operate Greenbushes & had to buy LiOH capacity rather than build it don’t bode well for success in Oz with $MIN who only mines

If this deal happens at this price:
What does it say about:
1) The ability to expand Greenbushes? 2) $ALB ‘s real situation in the Atacama? 3) ALB’s need to not operate key assets? 4) Chris Ellison’s ability to negotiate. Congrats $MIN

Stroke of genius or beginning of the end for $ALB? More likely the latter. $MIN celebrates an “Aussie Thanksgiving” one day before the US version. Luke, Bueller, Anyone??.

https://twitter.com/globallithium



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: myshares  
 
blacksheep
post Posted: Nov 22 2018, 09:35 PM
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Up 26.59% @ $15.76/share following this ann
Key commercial terms
QUOTE
Under the Agreement, the parties agree to use their respective best endeavours to agree upon and execute
binding transaction documents (Definitive Documents) embodying the following commercially agreed
terms, by no later than 14 December 2018 (or such later period as the parties mutually agree):
ï‚· Purchase price for the Sale Interest of US$1.15B in cash (based on a US$2.3B enterprise value for
the Wodgina Lithium Project on a 100% basis) payable upon completion of the sale of the Sale
Interest.
ï‚· Other than conditions of an administrative nature, the only transaction-specific conditions to be
satisfied for Completion to occur are the parties obtaining applicable regulatory approvals (which
will include FIRB and any other approvals agreed between the parties as required) and any third
party consents.
ï‚· Albemarle to acquire a 50% interest in all mineral rights within the Wodgina tenements other than
iron ore (which will be retained exclusively by MRL) and tantalum (which remain held by Global
Advanced Metals Greenbushes Pty Ltd), all fixed infrastructure and utility assets, the spodumene
concentrate plant and the mobile mining equipment.
ï‚· The parties will jointly manage the Wodgina JV, through a company to be owned in equal shares by
the parties.
ï‚· MRL (or a related corporation) to enter into the following contracts with the Wodgina JV for the life
of mine:
o Build, own, operate crushing contract to exclusively crush all run of mine ore as feed for the
spodumene concentration plant;
o Operation and maintenance contract for the accommodation camp and airport; and
o Mine to port haulage, ship loading and shipping contract for the transportation of product
from Wodgina to the destination port.
ï‚· The Wodgina JV is expected to produce up to 750Ktpa of 6% spodumene concentrate from Wodgina
which is ultimately intended to be used as feedstock for the lithium hydroxide plant (outlined below)
once constructed.
ï‚· The parties to jointly fund, design, build and operate a lithium hydroxide plant in stages at Wodgina.
o The first stage, once fully commissioned, is expected to produce at least 50Ktpa of lithium
hydroxide with construction to commence as soon as the necessary licences and approvals
are in place; and
o The second stage is expected to convert the remaining volume of spodumene concentrate
to lithium hydroxide (subject to prevailing lithium market conditions at the time supporting
this development), at which point the plant is expected to be producing at least 100Ktpa of
lithium hydroxide.
ï‚· Albemarle to make its proprietary lithium hydroxide plant designs available to the Wodgina JV.
ï‚· Albemarle will manage the marketing and sales of lithium hydroxide produced by the Wodgina JV
The above commercial terms reflect the current commercial agreement between the parties but remain
legally non-binding and are subject to board approval by both parties and agreement upon and execution
of the final form of the Definitive Documents.
Albemarle has agreed to commence to prepare and apply for any necessary regulatory approvals as soon as
reasonably possible after the date of the Agreement.



‘Get off our register’: Minerals Resources boss Chris Ellison on the attack after another strike against executive pay
Stuart McKinnonThe West Australian
Thursday, 22 November 2018 4:55PM
QUOTE
Mineral Resources boss Chris Ellison has again told institutional investors blindly following proxy advisers to get off the company’s share register after it received yet another strike against its executive remuneration report.

A whopping 63.3 per cent of votes cast by shareholders opposed MinRes’ remuneration, giving the company another first strike.

Today’s poll follows two similar strikes against the company’s remuneration report in the past two years.

Last year, the company’s second strike triggered a board spill motion but shareholders overwhelmingly voted to retain the existing board and management.

Speaking to reporters after the company’s annual meeting in Perth this morning, Mr Ellison insisted the company was not overpaying its people.

“The returns we give our shareholders is good, our people work hard and they deserve the remuneration they get,” he said.

https://thewest.com.au/business/remuneratio...-ng-b881029134z
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 17 2018, 09:26 PM
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In Reply To: blacksheep's post @ Jul 25 2018, 01:11 PM

QUOTE
MinRes also said yesterday that non-binding indicative offers for a 49 per cent stake in Wodgina were expected by mid to late August with a formal announcement expected by the end of the year
.

AFR Street Talk article suggests Russell Moran + Chinese could be interested in the 49% stake

QUOTE
Moran is chairman of ASX-listed lithium micro-cap Metals Tech, which at a market capitalisation of barely $7 million, would be an extremely ambitious bidder for a 49 per cent stake that some analysts believe will sell for more than $1 billion.

But Moran is understood to have corralled a group of Chinese spodumene concentrate consumers, who in Spring Racing Carnival parlance, are looking to back a local horse in the Wodgina process.

Moran has been keeping his end of the bargain, registering a new company with ASIC on August 29 named Wodgina Resources Limited.

The degree to which Metals Tech would be involved in Moran's pitch was unclear on Tuesday.

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 27 2018, 01:18 PM
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Posts: 5,604
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In Reply To: blacksheep's post @ Jul 25 2018, 01:11 PM

Fresh from being in ASX's naughty corner re last weeks Investor Briefing "issue", MIN "shakes off Atlas fizzer with Brockman JV deal"
https://thewest.com.au/business/mining/minr...l-ng-b88909550z
https://www.asx.com.au/asxpdf/20180727/pdf/...t4gtgsdmmf2.pdf

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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