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POL, POLARIS METALS NL |
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Posts: 9 Thanks: 1 ![]() |
In Reply To: crayfish's post @ Mar 11 2009, 12:41 PM Silly me completely forgot another important reason for lack of interest by the Chinese or anyone else with regards to a takeover: Any such move is effectively blocked by the large holdings of Lion and HRR combined. regards, crayfish |
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Posts: 9 Thanks: 1 ![]() |
In Reply To: frankmal's post @ Mar 10 2009, 10:45 AM Looking good, frankmal. Pity production is still 2 years away. Look how quickly AGO got up & running. Maybe if an offtake agreement were to surface things would happen sooner? Major shareholder Lion is, after all, a steelmaker. Pity they havent jumped in to secure Carina production for their steel mills........yet. The Chinese dont seem to have shown much interest in POL, maybe due to the relatively small tonnage proven today. If the Weelamurra (?) tenements were as advanced I'm sure they would be sniffing.......... Ah well, whats another couple of years? regards crayfish |
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10 March 2009
ASX RELEASE Highly Encouraging Carina Metallurgical Results Yilgarn Iron Ore Project • High lump recovery of up to 68% • Excellent calcining potential to >65% Fe • Physical and thermal properties typically better than industry standard requirements • The ore quality and properties of the Carina product are comparable to other Australian iron ores making it readily marketable http://www.polarismetals.com.au/upload/doc..._Metallurgy.pdf |
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![]() Posts: 86 ![]() |
A bit of optimism for a change...
Some Positives For Iron Ore FNArena News - January 08 2009 By Chris Shaw link to article is here: Some Positives For Iron Ore http://www.fnarena.com/index2.cfm?type=dsp...152AB38E6DC057E |
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Posts: 686 Thanks: 18 ![]() |
Hi polsters
There was a time when a report like this would have stirred a little buying!!! http://www.polarismetals.com.au/upload/doc...rina_Update.pdf C |
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Posts: 495 Thanks: 7 ![]() |
Greetings,
In the announcemnt of 10 April Mr. Lea said "A prefeasibility study on the YIOP is ongoing and is planned for completion by June 2008". Hopefully we will see the result in the next day or so although it could be argued that it is nearly a month overdue. I will happily stand in the corner if it has been released and I have missed it. Regards to all, TerryA |
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Posts: 182 Thanks: 5 ![]() |
the current chart with my doodlings. POL surprises me with the price variations. The price may not get better to buy up to the placement, but then again strange stuff happens.
Cheers DYOR This post has been edited by camaybay: May 28 2008, 08:34 PM
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G'day Carneius Looking at my old notes and reading the announcement I get this conservative scenario (by which I mean this is what a 'low case' may look like, not I think we will only get the low case): Yilgarn Bungalbin East - eventually classed out of bounds after green protests:) J5 - out of bounds Vela - out of bounds ??? J4 - 10Mt @ 58% potential J4 Extension - is there such a thing??? Carina - 20Mt @ 56-57% = 2.5Mt pa for 8 years Chamaeleon - ~20Mt @ ??% potential Musca - ??? So potential for unopposed 50Mt would imply perhaps potential ~6Mt pa for 8 years (incl. Carina) in the conservative case [Johnston Range had no encouraging news in last QR, and I think there is DEC rare flora at Evanston.] Poondano ~12Mt CID target potential or 1.5Mt pa for 8 years Weelumurra & Caliwinga Creek 250-310Mt target potential So say >4Mt pa, plus Pilbara exploration. Does that make it FRS FerrAus size?...one year ago FRS fully diluted market cap was ~$100M; now with placement fully diluted market cap will be ~$200M (I think) ...with share price from 80c to >120c POL(O) fully diluted market cap will be about ~>$100M post placement (I think) hmmm does give food for further thought |
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Hi stix and carneius,
Today's news is a positive outcome. Investors have shown their approval, reacting favourably. For the benefit of forum members here is the POL- PMM announcement: POLARIS METALS Website: http:// www.polarismetals.com.au 9 May 2008 ASX RELEASE Polaris – Portman Dispute Settled Yilgarn Iron Ore Project • Polaris and Portman have executed a Deed of Settlement in respect of the Bungalbin tenements. • Polaris now has confirmed tenure over Bungalbin East, J4 and J5 deposits – total resource potential 80Mt at 58% Fe. • Polaris moves to 100% ownership of the Mayfield DSO and magnetite deposit. • Polaris gains important haul road access to nearby rail infrastructure. • Mutually beneficial tenement rationalisation completed in the region. The Directors of Polaris Metals NL (Polaris) are pleased to announce the final resolution of the Bungalbin tenement dispute with Portman Iron Ore Limited (Portman), which provides Polaris with unfettered ownership of three important iron ore deposits. *1 The settlement relates to ownership of tenements in Polaris’ Yilgarn Iron Ore Project (YIOP) area, 60km north of Koolyanobbing in Western Australia. Settlement Details The key aspects of the agreement are noted below and shown in Figure 1. • Polaris has secured unencumbered 100% ownership of the iron ore rights over the Bungalbin tenements that contain the Bungalbin East, J4 and J5 deposits. • Polaris has been assigned Portman’s 60% ownership of the iron ore rights of the Mayfield tenement, giving Polaris 100% ownership of tenements with significant resource potential for both direct shipping and magnetite ores. • Polaris has assigned its direct shipping iron ore interests to Portman in a number of tenements groups - (Perrinvale area and Mt Jackson area), while retaining magnetite iron ore rights, and assigned the Gibbings Island tenement unconditionally. • Polaris has been granted access to Portman’s haul road from Windarling to Koolyanobbing in limited circumstances under specific commercial terms and conditions which ensure that Portman continues to operate without interference. The agreement delivers ownership of several iron ore targets: * Bungalbin East, resource potential 60Mt with 58% Fe. * J4, resource potential 10Mt at 58% Fe. * J5, resource potential 10Mt at 59% Fe. As part of the YIOP resource evaluation, efforts will now continue to further drill test and establish Mineral Resources. Bungalbin East and J5 are subject to the proposed expansion of the Mt Manning Nature Reserve, with Polaris given three years by the State Government to quantify respective economic and environmental values. Polaris Managing Director Jonathan Lea said, “Having Polaris and Portman sit down and negotiate win-win commercial outcomes that have simplified previously complex ownership arrangements is a great result for the respective shareholders. Polaris considers this is a significant milestone in progressing the YIOP and for the future mining development of the region. All stakeholders in the region should be encouraged that the two companies have been able to reach such sensible solutions.†“Polaris’ access to the Portman Windarling-Koolyanobbing haul road subject to capacity availability means Polaris has a direct road haulage route to the rail infrastructure for some of our planned iron ore operations. †For and on behalf of POLARIS METALS NL Jonathan Lea Managing Director *1 The Deed is subject to the necessary consents and approvals under the Mining Act for transfer of tenement titles |
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Posts: 686 Thanks: 18 ![]() |
Hi Polsters
I must be missing something, todays announcement apart from the swapping of tenements with PMM and the uncertainty of Bungalbin as regards proposed Mt Manning nature reserve. Todays announcement gives POL access to PMM roads enabling POL to get its ore to a non private railway. This is a sticking point with just about all other iron hopefuls including AGO, a company I like to compare with POL, that don`t have such access. POL are cum rts one for five @ .45c have interests >50% SXG and >25% NTU, have a market cap of around $2.50/ res tonne compared to GBG round $12.50 and MUR around $22.50 / res tonne ( see broker presentation co announcements). Its a bargain unless of course I have missed something, it might get better once the rts issue is out of the way and with a bit of broker support from Patersons might start to head North. C |
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