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AYR, ALLOY RESOURCES LIMITED
blacksheep
post Posted: Jun 20 2018, 11:19 AM
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Rio Tinto’s tiddler deal fuels talk of copper find
Stuart McKinnonThe West Australian
Wednesday, 20 June 2018 9:35AM
QUOTE
Further evidence of a big copper-gold find by Rio Tinto in the East Pilbara emerged yesterday when the mining giant signed an exploration farm-in deal with a tiddler that holds an adjoining tenement in the area.

Alloy Resources, which is capitalised at just $10 million, revealed it had struck a joint venture with Rio over its exploration licence in the Paterson Province, about 100km north-north-west of Newcrest’s Telfer gold mine.

Alloy’s tenement abuts the southern boundary of Rio’s big land package in the area.

Under the terms of the deal, Rio will reimburse Alloy’s previous costs of $40,000 and have a right to earn up to 70 per cent of the project by spending $500,000 on at least 500m of drilling over the next three years.

The agreement contains provisions for Rio to accumulate 100 per cent ownership of the tenement in exchange for a royalty prepayment of $1.5 million and an ongoing 1.25 per cent royalty subject to two elections by Alloy for Rio to continue sole funding of the project.

Although the deal represents loose change for the mining giant, it signals Rio’s intent on tying up ground adjacent to its rumoured find and suggests it believes strong prospectivity exists over a broad area.

Speculation of a big copper find grew extra legs last week when satellite images emerged of a worker camp and drill holes on Rio’s ground about 150km north-north-west of Telfer.


QUOTE
Other explorers with tenements abutting Rio in the Paterson Province include Red Metal, Sipa Resources and Antipa Minerals, the latter of which has an exploration joint venture agreement with the mining giant over its adjacent Citadel project.

Fortescue Metals Group has also been busy on the pegging front to the north of Rio’s apparent find.


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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
 
Brendan
post Posted: May 4 2010, 11:31 AM
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"Reconnaissance Drilling Identifies New Gold Anomalous Area"... on the radar now

 
caitlyn
post Posted: Jul 20 2007, 09:28 AM
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In reply to: caitlyn on Thursday 19/07/07 09:36am

Closed at 19.5c, however volume was much lower and the range very tight, I can't see AYR going much lower for the moment. Consolidation 20-30% off the high will occur.

Good Luck holders. smile.gif

 
caitlyn
post Posted: Jul 19 2007, 09:36 AM
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In reply to: chelle on Wednesday 18/07/07 10:34pm

chelle,

If you look at the chart it consolidated for a couple of weeks and spiked into the 20's. In theory it will now consolidate around the low 20's(20-30%) off the high, before moving again. In order for it to move they will need an announcement regarding there JV and now extended area.

Now from a TA point, you do have an engulfing candle which signals a reversal so today's close is important, if it closes below 20c today it will likely drop back to support around 16/18c. I sold some yesterday.

Watch for the bounce.... cool.gif



 
nizar
post Posted: Jul 18 2007, 11:59 PM
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In reply to: chelle on Wednesday 18/07/07 10:34pm

I would expect a bounce 2mrw from the 20c level.
Theres support there.



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My posts express my opinions and thoughts and do not constitute financial advice.
Please consult a professional financial advisor and/or do your own research before investing.
 
chelle
post Posted: Jul 18 2007, 10:34 PM
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In reply to: caitlyn on Wednesday 18/07/07 09:08am

Announcement wasen't what the market wanted to hear, this will be sold down now, they simply do not have the kind of money required to explore in mountains, expect large issue's, but who is going to support them?--sorry, this one has no chance, not at these prices, you saw the dumping today?, expect a lot more

 

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caitlyn
post Posted: Jul 18 2007, 09:08 AM
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Chart posted, 18c close the signal.

28c ath, so not to far from blue sky break.
But I think this one would find support now in the low to mid 20's. Still has a little way to go before we know they have the goods, but AYR is a good example of "the nearology factor." graduated.gif

Good luck holders smile.gif
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caitlyn
post Posted: Jul 17 2007, 02:03 PM
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Plenty of bidders now above 20c, looking hard now to get any cheaper.

Good luck holders smile.gif

 
caitlyn
post Posted: Jul 17 2007, 10:39 AM
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In reply to: nizar on Tuesday 17/07/07 10:31am

Gotta love it nizar,

Another couple of pionts and most of my opts have doubled.

Remember though still just a big pile of dirt, so hopefully buyers won't get to carried away. Profit takers are waiting hypocrite.gif

Good luck

 
nizar
post Posted: Jul 17 2007, 10:31 AM
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In reply to: caitlyn on Tuesday 17/07/07 10:15am

Hi Caitlyn,

I picked up a few at the open this morning at .21, after yesterdays impressive blue sky close (52-week high).

The depth is a joke.



--------------------
My posts express my opinions and thoughts and do not constitute financial advice.
Please consult a professional financial advisor and/or do your own research before investing.
 
 


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