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Don't need a better entry ramp, need a better accelerator.
Unfortunately South African mining is very dangerous and deaths are very common. They have gold mines that go miles into the earth. It does create a decent entry point for ATL, as morbid as it may seem.
Wow Another Dead Body!!!
Absolutely unexceptable risk here now!!! I am out!!
maestro
GLA, and expect a bnch of lawsuits, cause you do not have 3 fatalities in one month unless you are running a dangerous operation!!! Yes mining is dangerous, but not this dangerous
I am out of the markets and 80% in cash right now, cause OCTOBER is going to be a BLOOD BATH IMHO
14:13:54 1000 0.0391
I have it finally figured out. Someone traded 1K shares at that time. Then they went to sleep at the terminal and continue to hit the return key as they nap. That explains the next 12 trades on AT at the same bat time, same bat amount and no change in volume. ;-D
What tha? I show over a dozen trades all at the same time and same amount (10000) shares and yet only 10K showed up. Sheese.. .this thing trades weird.
Lots of odd trading. 1400 shares traded x 14 or 15 times and yet only 100 showing on the bid/ask thingy. This is NOT the first time I have observed this.
Way low volume, MM's playing mind games and bots trading along. Got to love the market.
Lets hope a real reason to trade this stock comes along. At this point, no one is watching.
atl
This stock is going to continue up with a few bumps in the road. The platinum is there as long as there is power and labor and people are not getting killed 2x in one month @the mine. I am long ATL. Also - Platinum currency prices are now higher than gold. Right now $1480 USD/OZ and trending up. Lets make some more money and buy buy buy ATL!
R
Yea, any news like a death at the mine is always a good time to sell. But remember, ATL is not the same company it was a few months ago. And, Anglo has a vested interest in seeing the stock rise.
I got in at .365 and should have flipped when I had over 20% in two day. Dumb bunny me. I would have gone back in yesterday in a heart beat. Oh well... coulda, shoulda, woulda.
I recommend you wait. It could very well run back to .40 tomorrow
Works for me, but I am just going to flip this one until I get a better feel for this whole industry for a while.
Yep you will see, .60 ATL soon.
ummm.... We will see......
This is a great buy opportunity for ATL. Short term target .60
Very anemic volume today. Started to close that gap, but pulled back. Gaps can be road blocks either up or down. Lets close that gap and move on.
Easy recovery. ATL always dips when there is a death at the mine.
Actually according to the PR they were back up and running on Friday last week!! So very little lose of production which is great!! Now lets see if the PPS starts moving in the right direction again!! Maybe if that clown with 233,000 shares on the ask at 39 cents would disappear, then maybe we could get some MOMO back.
GL2U
maestro
What tha...... I see at least 20 trades of 5,800 shares in the last few minutes. Yet volume shows only 55K? ummmm something ain't right. Is it just me?
yah this was from yesterday, and wee should see an announcement about the diluted stock shortly.
I also found this link this morning. http://www.miningweekly.com/article/competition-authorities-approve-atlatsa-restructure-plan-2013-08-29
Yeah probably so, but most seem to be settled quickly for some really low figure by our standards and a kings ransom by theirs. Anyone killed on a mine anywhere is not good.
I do not see them diluting at 39 cents when they are raising money 76MM at 60 cents. I know this is Africa, but I am assuming that lawsuits will be announced soon.
I see 256 shares showing on the ask at .39. May be dilution from the company.
Overall, there recent track record on safety has been pretty good. However, yet another death will not be good.
WOW HORRIFIC SAFETY RECORD!! another person dead today and the mine shutdown again in less then a month.
very concerned about law suits here
JMHO
Agreed and still unconfirmed. If I find the report I will post it.
maestro
If someone on Yahoo said it was sunny out, I would go outside and look. 8-)
I have to agree with you, and that is no pump man!! Apparently SBG issued a new report with a target of 68 cents. Got that from yahoo, can not confirm yet.
http://finance.yahoo.com/mbview/threadview/?&bn=06a81a4f-b98d-349f-ad31-c68828fa6eb2&tid=1377747164643-fb259528-2074-45c4-8ba9-bc6c84f50db1&tls=la%2Cd%2C0%2C3
If true might explain why the volume and bid ask sizes are much higher and the spreads much tighter now.
GL2U and keep posting anything you might find
Because of the way that little run went this week, I am thinking someone wanted in badly, or there was some quick short covering. Not that I see a really staggering load of shorting here for now.
If there is a good chartest here on this board, will you please post it as a stickie so we can check it quickly.
Please do your own DD, this is a great start.
raise money at 60 cents when the stock was 20 cents, and todays news pretty much makes this a done deal!!
interest rate is great, debt is way down, and cashflow positive from operations!! Even with 125MM more shares outstanding this one looks very good under 60 cents.
maestro
http://ih.advfn.com/p.php?pid=nmona&article=58256000
Thanks, yea I've been around. Watching my account grow thanks to ATL. I think I'm being rather conservative in my estimates. I've studied this company for over 2 years so I think I have a good handle on it's worth. There's also the simple fact that Anglo has a vested interest in seeing ATL profitable and the SP rising. I'm sure they're working to effect that outcome in their own special way as well.
.50..... now that is a flip I could live with in the short term.
yes you are correct!! just pointing out that the PPS at the close does not reflect the acumulation during the day!! They do control the game as you put it, but they also have to follow some rules and long term the market moves where the money goes!!
GL2U and with the close of 46 in Toronto ATL is at 44 cents today!! We could easily see a move over 50 cents it the market continue to bid gold up and equities down.
Play nicely with the MM's or lose. They control the shell game we play.
That is a lot of ifs at the end of your comments. However.... If it were to come true over the next few years, you will be retiring to a small island of your owning. (say.... Cuba?)
Hey Jaylin glad to see you back here!! I agree with you, and I am really bullish on the trading which appears to be heavily manipulated at the close to show a fake sense of weakness. Way mor buying at ask then selling all day and the 50 cents gap could fill as early as tomorrow. Yesterday this thing was up 17% in Toronto and another 12% today!! and it was only up 9% and look red today!! Love that kind of desperation to create lquidity that doesn't exist!! Basically there is almost no selling since the 50 cent spike, and the probablity of breaking that now is almost certain!!
I agree with your targets based in 1500 dollar platinum, but if Gold and oil go to $2000 and $200 platinum will be $2200 at least and ATL will be $1.75 IMHO!! they will be making money alot of it at a $2200 spot price.
GL2U
maestro
ATLATSA RESULTS FOR THE QUARTER & HALF YEAR ENDED JUNE 30, 2013
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9460764
Yeah, I liked most of what I saw from my DD.... though nothing is a sure bet. It was worth a try though. Wish I had been more aggressive the day before, but can't complain so far.
I will not be in a long time, but will not be too eager to bail at the first whiff of trouble either.
GLTY my friend.
congrats on your timing, you should be thrilled with the movement today, but there is nothing more than this thing heading back to fair market value IMHO. Just to give you a little background this company when it was ANO n- Anooraq Resources had a market cap as high as 3/4 of a Billion when it was a junior explorer. Today it is a intermediate miner with projected revenues in the 1/2 Billion annual range in the next 5 to 7 years. If they continue to make profits on operations the Mcap at current levels is very inexpensive and much lower than it was years ago when they had nothing but a piece of land. The reserves, JVs, financing, revenue and operating profit make this a long term hold for me!!! I have little risk as I bought most of my position at 19 cents or less and another quarter position at 26 cents a few weeks ago!!
GL2U, I think we will see a slow steady climb with resistance become support on any pops, like the 50 cent one we got a few weeks ago\
maestro
Wow, what got into this stock today? Volume is really up as well as price.
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Atlatsa controls and operates the Bokoni Platinum Mines, located on the eastern limb of the Bushveld Complex, and maintains a controlling interest in the Ga-Phasha Project, located adjacent to Bokoni, and the Boikgantsho and Kwanda Projects.
Bokoni is an operating mine located on the north-eastern limb of the Bushveld Complex, to the north of and adjacent to the Ga- Phasha Project. The Bokoni property consists of seven mining licences covering an area of some 15,000 hectares. On May 12, 2008, the DME granted Bokoni conversion of their "old order" mining rights to "new order" mining rights.
Current mining rates are approximately 80,000 tonnes per month (tpm), at an average grade of 4.3g/t. This production is split between the Merensky and UG2 reefs at 50,000 and 30,000tpm respectively, and once processed, produces approximately 150,000 4E ounces per annum. Bokoni is the only eastern limb operation with significant Merensky production, high in platinum value with a 2:1 platinum:palladium ratio and has a high UG2 reserve grade of 5.36g/t 4E.
Previous technical studies conducted by Anglo Platinum indicated that Bokoni's maximum value is achieved at a mining rate of 375,000tpm, comprising steady-state Merensky Reef production at 120,000tpm and steady-state UG2 Reef production of 255,000tpm. The long-term growth plan for Bokoni is planned over two stages:
Both the Stage 1 and Stage 2 expansions at Bokoni are intended to access the Merensky and UG2 reefs from near surface to approximately 650m below surface. This presents a key technical and cost advantage, as there would be no need for significant refrigeration at these mining depths.
Atlatsa's plans for transforming Bokoni centre around creating a new business culture at the mine, reducing costs, increasing production, and implementing a diciplined approach to orebody management and grade control.
There is a significant opportunity for organic growth at Bokoni itself and by exploring synergies presented by the 26km continuous strike length between Bokoni and its neighbouring Ga-Phasha mineral property. Offtake agreements are in place with Anglo Platinum, and the company has an option to buy an interest in the Polokwane smelter complex.
As a result of the completion of the Bokoni Transaction on 1 July 2009, Atlatsa effectively owns 51% of the Ga-Phasha Project.
Atlatsa and Anglo Platinum reviewed the mineral interest between April and October 2006. Several approaches were considered to optimize mining of the deposits at the Ga-Phasha Project. The review confirmed that the UG2 deposit would remain the primary focus for development, and the Merensky deposit warrants further study through additional drilling. Atlatsa intends advancing the Ga-Phasha prefeasibility study in 2010 to incorporate synergistic opportunities between the Ga-Phasha and the Bokoni mine.
Atlatsa is currently investigating opportunities to mine the Merensky Reef at Ga-Phasha using the adjacent Brakfontein infrastructure. Investigation thus far indicate encouraging results and the mining operation at the Bokoni mine may be extended through the Brakfontein haulages on 4 levels into the Klipfontein (one of the Ga-Phasha farms) lease area. Ga-Phasha lies immediately adjacent to and south of Bokoni's new Brakfontein shaft system.
The property has measured and indicated mineral resources of some 25.7Moz 4E and inferred mineral resources of 64.7Moz 4E. Studies are currently underway to assess potential synergies between Bokoni and Ga-Phasha.
Located on the northern limb of the Bushveld Complex, and adjacent to Anglo Platinum’s Mogalakwena Mine, this project was acquired through a land acquisition by Atlatsa in 2000 and a joint venture with Anglo Platinum in 2004. Historically, significant exploration drilling has been conducted at the project site which has led to the estimate of significant Mineral Resources in the indicated and inferred categories. Though the preliminary economic assessment was done in 2005; the results of this work showed that the project warrants further investigation. Atlatsa intends embarking on a pre-feasibility study with a view to increase the inherent value of the Boikgantsho Project. On completion of the pre-feasibility undertaken by the company, a decision will be made on the further development of the project.
Initial drilling has produced indicated mineral resources of 7.7Moz (3E), 230,000t of nickel and inferred resources of 4.1Moz 3E, 75,000t of nickel. A pre-feasibility study is underway, and initial assessments point to an open-pit operation with a 32-year life-of-mine at 400,000tpm with a low strip ratio of 1,7:1.
On May 16, 2002, Atlatsa completed an agreement with Rustenberg Platinum Mines (RPM) for the right to acquire up to an 80% interest in twelve PGM properties located on the northern limb of the Bushveld Complex. Under the agreements with RPM, Atlatsa acquired an initial 50% interest in the PGM rights to the twelve farms. These farms are collectively known as the Platreef Projects.
As of July 1, 2009, the joint venture agreements terminated and Kwanda Platinum Mine (Proprietary) Limited, a private company incorporated under the laws of South Africa, a wholly owned subsidiary of Bokoni Holdco, owns the respective interest in and assets relating to the Kwanda Project. As a result of the completion of the Bokoni Transaction, Atlatsa effectively owns 51% of the Kwanda Project (see group structure).
Atlatsa will continue with prospecting programs on the Kwanda Project and will also pursue opportunities to increase its knowledge base of the twelve properties originally earmarked for exploration, by information sharing with other parties conducting exploration activities in the area. A decision is expected to be taken in the medium term as to the strategic direction the company intends to embark on with regards to the Platreef Projects.
Merensky | UG2 | Total | Total att | |||||
---|---|---|---|---|---|---|---|---|
Grade | 4PGE | Grade | 4E | 4E | 4E | |||
Mt | g/t 4E | oz | Mt | g/t 4E | oz | |||
Bokoni ¹ | ||||||||
Reserves | 100% | 51% | ||||||
Proven | 19.1 | 4.53 | 2.8 | 33.0 | 5.47 | 5.8 | 8.6 | 4.4 |
Probable | 5.1 | 4.14 | 0.7 | 8.6 | 5.31 | 1.5 | 2.2 | 1.1 |
Total | 24.2 | 4.45 | 3.5 | 41.6 | 5.47 | 7.3 | 10.8 | 5.5 |
Resources (excl reserves) | ||||||||
Measured | 24.7 | 5.92 | 4.7 | 108.9 | 6.75 | 23.6 | 28.3 | 14.4 |
Indicated | 29.0 | 5.73 | 5.3 | 73.9 | 6.82 | 16.2 | 21.5 | 10.9 |
Total measured and indicated | 53.7 | 5.82 | 10.0 | 182.8 | 6.78 | 39.8 | 49.8 | 25.4 |
Inferred | 92.0 | 5.55 | 16.4 | 131.3 | 6.78 | 28.6 | 45.0 | 22.9 |
Ga-Phasha ² | ||||||||
Resources | ||||||||
Measured | 8.4 | 4.32 | 1.2 | 24.9 | 6.50 | 5.2 | 6.4 | 3.2 |
Indicated | 48.2 | 4.65 | 7.2 | 57.5 | 6.56 | 12.1 | 19.3 | 9.9 |
Total measured and indicated | 56.6 | 4.61 | 8.4 | 82.3 | 6.54 | 17.3 | 25.7 | 13.1 |
Inferred | 180.0 | 4.45 | 25.8 | 185.8 | 6.47 | 38.6 | 64.7 | 33.0 |
Platreef | Total | Total | Total | Total | Total | Total att | ||||
---|---|---|---|---|---|---|---|---|---|---|
Grade | Ni | Cu | Ni | Cu | 3E | 3E | Ni | Cu | ||
Mt | g/t 4E | % | % | 000t | 000t | oz | oz | 000t | 000t | |
Boikgantsho ³ | ||||||||||
Resources | 100% | 100% | 100% | 51% | 51% | 51% | ||||
Measured | ||||||||||
Indicated | 176.4 | 1.35 | 0.13% | 0.08% | 230.3 | 141.1 | 7.7 | 3.9 | 117.0 | 72.0 |
Total measured and indicated | 176.4 | 1.35 | 0.13% | 0.08% | 230.3 | 141.1 | 7.7 | 3.9 | 117.0 | 72.0 |
Inferred | 104.0 | 1.23 | 0.14% | 0.09% | 145.6 | 93.6 | 4.1 | 2.1 | 74.3 | 47.7 |
Total Proforma | ||||||||||
Total Reserves | 10.86 | 5.7 | ||||||||
Total measured and indicated (incl reserves) | 92.03 | 46.93 | 117.0 | 72.0 | ||||||
Total inferred resources | 117.2 | 59.8 | 74.3 | 47.7 |
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