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Of course we don't know whether this is just a single intense investor, collecting on a rumor (as happens so often with shell stocks), or actual real news in the wings.
I remember in February when I kept seeing this stock called HPNN 'jiggy' on the scanner at .0004 and .0006. Went on for days, until finally the accumulation pushed it over .0008 and onto many radars.
A day later, a PR came out that the CEO of HPNN was being released from prison, lol. The stock ran 400% that day.
So, is this evidence of legitimate news, or simply a well to do resource investor collecting on a theory?
All I can say is that if AURMF still has the lease on those claims in the Stillwater region, I have to imagine they've increased in value, as the PPS of platinum has just about doubled since 2004
Your pretty good at this DD stuff Lobby! Keep it up!
Thanks
SWC (Stillwater Mining Co) is the only producing company working a mine in that area. Currenly trades at $9.94 on the NYSE
http://www.trending123.com/stock-sectors/Industrial_Metals_Mineral.html
STILLWATER MINING COMPANY (SWC)
Stillwater Mining Company (SMC) engages in the exploration, development, extraction, processing, and refining of palladium, platinum, and associated minerals (PGMs) in Montana, the Unites States. The company's mining operations consist of the Stillwater Mine located on the J-M Reef in Nye; the East Boulder Mine located in Sweet Grass County; and a smelter and refinery located in Columbus. At December 31, 2004, SMC had proven and probable ore reserves of approximately 41.6 million tons with an average grade of 0.57 ounce of PGMs per ton containing approximately 23.9 million ounces of palladium and platinum. The company was incorporated in 1992 and is headquartered in Billings, Montana.
Makes me want a little more...
you're right, and there's been some serious bidwacking going on:
http://img521.imageshack.us/img521/1076/11302007133656pu4.png
UBSS sure is not budging on that bid...
Enjoy! Catch you next week
fyi: Platinum supply-demand dynamics point to $1,700 an ounce in 2008
11/20/2007, 10:03:08 AM |
Luke Burgess
Increased industrial demand for the most precious metal will drive prices much higher.BALTIMORE, MD--Production problems mean that the demand for platinum will exceed supply in 2007, which could push prices as high as $1,700 an ounce by the end of next year.
On an ounce-for-ounce basis, platinum is over 80% more expensive than gold and almost 10,000% more expensive than silver.
The white metal is the most precious of the traded metals simply because of its relative scarcity.
Global mine production supplied only about 214 tons of platinum in 2006. This was equivalent to only 8.7% (by weight) of the world’s total gold production and about 1.2% of the silver production for the same year.
Platinum is found at much lower grades than gold or silver. On average, ten tons of ore must be mined--sometimes miles underground at temperatures greater than 120ºF--to produce a single ounce of platinum.
Relative to volume mined, platinum has more industrial uses than either silver or gold. In fact, more than 50% of the world’s annual production of platinum is used in industry. Most of the rest goes toward jewelry manufacturing (about 40%) and investment (about 10%). This is unlike gold, where most of supply is used for jewelry (about 70%) and investment (about 20%).
Also unlike gold, there are no large inventories of above-ground platinum. Therefore, a breakdown in major supply sources could catapult platinum prices into orbit.
And that’s exactly what’s happening.
Unlike most other commodity metals, which are found throughout the world, major platinum deposits are limited to two main areas: South Africa and the Commonwealth of Independent States (the former USSR).
And South Africa is by far the more important of the two, as it accounts for approximately 80% of the world’s total annual mine production. South Africa also accounts for 88% of the world’s platinum reserves, with a proved and probable reserve estimate of 6,223 tons, or 223 million ounces.
It’s also interesting that more than 90% of the world’s platinum production comes from only four mines--three in South Africa and one in the CIS.
In light of the metal’s extreme scarcity, platinum’s supply-demand dynamics are tight and getting tighter every month.
A drop in mine supply has contributed to prices rising almost 33% this year to a recent record of $1,498.80 an ounce on November 7.
Global platinum supplies are expected to fall 135,000 ounces, or 2%, to 6.66 million ounces this year. Meanwhile, demand is expected to increase by 195,000 ounces, or 2.9%, to a record 6.925 million ounces.
This would leave the market with a supply deficit of 265,000 ounces, the seventh year in the past eight that the market has recorded a shortfall. In 2006, the market recorded a tiny surplus of 65,000 ounces.
Industrial usage of platinum is forecast to continue rising this year, up 40,000 ounces or 2.1% to 1.91 million ounces, with the automotive industry providing the main source of growth.
Heavy-duty diesel vehicles have just started to have catalysers fitted. This market is in its infancy, and further tightening of US and European emissions standards would require more platinum per vehicle. Auto catalyst makers, however, are continually seeking ways of reducing platinum usage in each catalyser. Manufactures can use palladium as a cheaper alternative.
Increasing usage of fertilizers to meet rocketing biofuel demand has also increased platinum consumption in the catalyst gauzes used in nitric acid production.
Rising prices, on the other hand, continue to weigh on jewelry demand, which has been falling since 2002 and is forecast to fall 25,000 ounces, or 1.5%, to 1.60 million ounces this year. However, China has seen a small increase in jewelry demand and sales are also reported to have been strong in the UK and Switzerland, but much weaker in the US and Japan, which account for 95% of the platinum jewelry demand.
While the western world’s industrial demand is understandably a function of economic growth, which increases at a moderate rate, demand for platinum in countries with emerging economies--like China and India--is exploding.
It is well known that China has enjoyed the highest percent of annual economic growth of any nation in the world during the last ten years. And there doesn’t seem to be any slowing in the foreseeable future. The country’s platinum consumption has grown apace with its annual industrial production increases. China’s future platinum demand alone will tax the current production capacity of the four major mines.
As platinum’s supply-demand squeeze becomes tighter, prices will inevitably continue to march higher. I expect platinum prices to trade relatively flat during the first half of 2008, building a base on the strong side of $1,400 an ounce. After that, I believe platinum has the potential to peak near $1,700 an ounce later in the year.
Until next time,
Luke Burgess
http://beta.stockhouse.com/Columnists/2007/November/20/Platinum-supply-demand-dynamics-point-to-$1,700-an
ABOUT THE AUTHOR
Luke Burgess
Luke Burgess is the managing editor of Secret Stock Files, an independently published investment newsletter focused on emerging natural resource stocks. Luke is also the managing editor of Capital Gains Report, a free investment newsletter, and frequently has articles published by other investment-related websites like Stockhouse.ca and Goldseek.com. He has been a guest on countless radio programs including Trader's Nation, The Bill Meyer Show, Sound Investing Radio, The Brent Clanton Show, The Economic Contrarian, On the Money, The Andre Eggelation Show, KXYZ Biz Radio, and Investments Advisor Review. Luke also spends a lot of time traveling to mineral properties and at resource conferences where he sometimes speaks. When he's not working, Luke enjoys hiking, mountain biking, camping, arguing about politics, The Grateful Dead, and, of course, panning for gold.
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Thanks, I am outta here for the rest of the day guys. Its back to the restaurant for Friday night, UUGH.
Platinum is used widely in the production of Catalytic Converters:
The catalyst itself is most often a precious metal. Platinum is the most active catalyst and is widely used. However, it is not suitable for all applications because of unwanted additional reactions and/or cost. Palladium and rhodium are two other precious metals that are used.
http://en.wikipedia.org/wiki/Catalytic_converter
Sometimes it's a gambler, making a bet on a long shot, sometimes someone knows something
I took a small nibble here today, jic. If it's a true lotto ticket, AURMF could see much higher. If not, then I haven't lost that much
PEM.v (.47) One of the other companies active in the same area, offers a few more insights into the possible potential of the stillwater area (btw, PEM is up 11.90% today)
Premium Exploration, Inc. Closes Initial Public Offering
VANCOUVER, BRITISH COLUMBIA (Feb. 27, 2006) Premium Exploration, Inc. (TSX-V:PEM) (“Premium” or the "Company") (www.premiumexploration.com) is pleased to announce closing of the initial public offering of common shares (the "Offering") under which Premium issued5,000,000 units (“Unit(s)”) in capital of the Company at a price of $.30CDN per Unit, with net proceeds from the Offering of $1,365,000. Each Unit consists of one common share (a “Share”) inthe capital of the Company and on non-transferable share purchase warrant (the “Warrant”). Eachtwo Warrants, will entitle the holder to acquire on additional common share (a “Warrant Share”) for a period of 24 months from today, at a price of $.40CDN per Warrant Share. The Offering was completed through a syndicate of underwriters led by Boulder Investment Partners Limited andincluding Sprott Securities Inc., Pacific International Securities, and Global Securities. Computershare Trust Company of Canada (1-800-564-6253) will be distributing share certificates to all shareholders.
Premium is a Vancouver, British Columbia based junior natural resource exploration Company,with two precious metal exploration projects located in the western United States and Mexico. The Company’s main exploration program is the Chrome Mountain, Gold, Platinum, Palladium andRhodium project in the Stillwater Complex located 35 miles south of the town of Big Timber, Sweet Grass County, Montana, western United States. Premium Exploration holds a 100% interestin this property, consisting of 137 unpatented mineral claims totaling 2,400 acres. The claims lie within the Stillwater Igneous Complex which is host to a tabular zone of Platinum and Palladiummineralization called the “JM Reef”.
The Stillwater Mining Company, in partnership with NorilskNickel from Russia is currently mining and producing Platinum and Palladium from the JM Reef at two locations. Premium Exploration Inc. controls 11,000 metres of strike length south of, and parallel to the JM Reef. Three parallel bands of layered mafic rocks in the Stillwater Intrusion on Premium’s ground contain anomalous Copper, Nickel, Chromitite, Gold and Platinum Group Metals (PGM) mineralization. Premium has also defined a shear zone associated with a late stage transverse faultthat crosscuts the footwall of the Stillwater Intrusion and has acted as a conduit for mineralizingsolutions.
Some highlights from historic drilling on the shear zone which is up to 31 metres wide and 310 metres long are:
- PC-2 intersected 26.2 feet containing 14.92 gram/ton Au,
- 0.60 gram/ton Pt, 1.48 gram/ton Pd PC-3 intersected 3.5 feet of 10.238 gram/ton Au,
- 0.374 gram/ton Pt, 0.353 gram/ton Pd PC-5 intersected 8.6 feet of 26.5 gram/ton Au, 1.5 gram/ton Pt,
- 1.7 gram/ton Pd PC-6 intersected 4.5 feet of 11.13 gram/ton Au,
- 0.37 gram/ton Pt, 0.40 gram/ton Pd and a second intercept of 2.4 feet of 35.6 gram/ton Au, 0.8 gram/ton Pt,
- 0.9 gram/ton Pd PC-9 intersected 15.9 feet of 15.9 gram/ton Au,
- 0.35 gram/ton Pt, 0.35 gram/ton Pd
This data does not meet the requirements of National Instrument 43-101. Premium’s geologists identified two parallel bands of Chromitite (“A” and “B” chromitites) during mapping and sampling.
These bands extend over 7 Km on Premium’s property. These chromitites host anomalous Platinum and Palladium mineralization and have similarities to the Chromitite layer in the Bushveld Complex located in South Africa that is designated the UG2 Chromitite layer. The UG2 Chromitite hosts several world-class Platinum and Palladium mines which produce approximately 62% of South Africa’s Platinum and Palladium.
The “A” and “B” Chromitites extend an additional 7.5 Km to the east on property controlled by Beartooth Platinum Corporation (TSX-V:BTP), which recently announced a $2,000,000USD exploration and drilling program focusing on the “B” Chromitite layer on Beartooth’s property.
Mapping and sampling exploration programs on the "A" and "B" Chromitite bands conducted by previous operators on Premium’s property confirmed historic numbers.
Additional sampling by Premium has obtained similar results. There were numerous surface samples collected with values in excess of 4 grams per ton Platinum + Palladium + Gold with a high of 46 grams per ton.
In the near future the Company will be making an announcement further describing its exploration plans and program for the upcoming field season in Montana.
--------------------------------------------------------------------------------
Page 2
Premium’s second project is the Cucurpe Gold Project, located in the State of Sonora, Mexico. The project is owned by the Company’s wholly owned Mexican subsidiary. The project is located 40 Km east of the town of Magdalena de Kino and 180 Km South of Tucson, Arizona. The propertyconsists of 32 concessions totaling approximately 12,000 hectares. Thirteen (13) of the concessions consisting of 10,000 hectares were staked by Premium, with the balance acquired under a miningexploration lease with an option to purchase 100% of the leased property. Reconnaissance levelexploration on the Company’s concessions has defined a regional zone of faulting and shearing that hosts Gold, Silver and minor base metal mineralization and trends North and South. The zone ofstructural preparation is approximately 4 Km wide and 8 Km long. Premium’s exploration work to date consists of mapping and sampling numerous gold bearing structures with three geological crews. The Company has collected 167 chip, channel and grab samples from veins, adits, stockworks and altered surface exposures.
The samples averaged 1.6grams/ton of gold with a high of 74 grams. Historic exploration work by Mexican prospectors havelocated numerous prospects and short adits. It has been reported that the prospectors recovered goldfrom near surface, oxidized vein material. Based on the Company’s exploration to date, two drilltargets have defined on the project. Due to its good contacts and relationships in Mexico, theCompany is the first company to acquire a cohesive property position by putting the 32-claim package together through staking and agreements with various property owners. Mr. Wilf Struck, P.E., is the qualified person responsible for the technical disclosure in this press release.
FOR FURTHER INFORMATION PLEASE CONTACT: Premium Exploration, Inc.Del Steiner President and CEO (604) 682-0243 Email: dsteiner@premiumexploration.com
That is interesting. The only platinum and palladium mine in US. Palladium keeps popping up every time I look at these mining stocks, from what I hear the price is up on it, as with other metals.
Very interesting: From the Stillwater MT. Historical background:
http://www.stillwater.mt.gov/Planning/7%20Chpt%20four%20Historical%20Background.doc.
4.6. Mineral Development
Interest in the Stillwater Complex began in earnest around 1917 in response to the demand for chrome during World War I. Production did not start until 1941 and was terminated by 1943. The Anaconda Company, as agent for the Defense Plant Corporation of the Federal government began production of ore at the Benbow, Mountain View, and Gish properties. A mining town was built at Lake Camp above Horseman Flat to house miners. Production from the mine declined when the war ended and chrome was no longer economical to mine. The new mining town was later abandoned. Another war-induced shortage of chrome during the early 1950's resulted in the reopening of the Mouat Mine. In 1952 American Chrome Company contracted with the Federal government to stockpile chromite at Nye. Over 900,000 tons of concentrate, averaging 38.5 percent Cr2O3, was mined from the Mouat mine between 1953 and 1961. Chrome production ended in 1961 and a stockpile of ore was left near the mine.
The most recent exploration activity in the Stillwater Complex began in the 1967 for platinum and associated metal potential. Platinum and palladium mineralization was first discovered by Johns Manville Corporation in the early 1970s. The rising price of platinum group metals resulted in development of the Stillwater Mine in 1985. Stillwater Mining Company is currently operating the only platinum/palladium mine in the United States.
That is a possibility. Whatever the reason someone jumped all over this today and didn't care about the price all that much. Whatever they know .10 is probably considered cheap by them.
True. All the resource areas are working overtime. In Alberta Canada, to the north of Montana, there is the biggest boom in over 30 years because of the oil/gas industry, as well as gold, copper, uranium and other resources.
Most of this activity has really taken place since 2005
Talk to a guy around 2 months ago that was working on a drilling rig in that area of Montana. He was here on vacation. I didn't ask him but I am pretty sure it was oil or gas exploration. He said they were humping hard to meet the contract. Said it was so remote it was 90 miles to Billings but had to drive 120 to get there. No straight roads in that direction.
He worked 2 weeks on 2 weeks off.
maybe... were just speculating for now but somebody has bought close to 200K in shares today...
Those leases were signed in early February 2004, before the real surge in precious metal prices, and probably negotiated in 2003, when the price of gold was still ca $300/ounce and the fall in the US dollar was just beginning.
I am making an assumption that lease prices were probably much lower then.
If nothing else, perhaps those leases are valuable to a company looking to take over exploration in the Stillwater area?
Just throwing some ideas out there
lol...I love 'mystery' plays. Doesn't always turn out, but sometimes these stocks moving without news and sudden volume turn out to have something going for them
Esp in light of this 2004 release:
Aurora Metals Enters into Lease Agreement for Platinum Group Metals and Nickel-Copper-Cobalt Exploration
Business Wire, Feb 11, 2004
Business Editors
DENVER--(BUSINESS WIRE)--Feb. 11, 2004
Aurora Metals (BVI) Limited ("the Company") (OTCBB:AURMF), announces that it has entered into an arm's length agreement with two private companies ("Lessors") for exploration for platinum group metals ("PGM"), and nickel-copper-cobalt mineralization, in the Stillwater Complex, Montana. the Stillwater Complex is located in the Beartooth Mountains in south-central Montana, some 90 miles by road southwest of Billings. The agreement, known as the Basal Zone Lease Agreement ("Lease Agreement") covers an area of approximately 903 acres, in nine unpatented claims and 34 patented claims in Stillwater County, and 17 unpatented claims, covering approximately 345 acres, in Sweet Grass County.
The Lease Agreement has a Primary Term of ten years from the date of execution, extendable for a further five years. Aurora Metals will pay the Lessors a monthly fee of $500 commencing on the first anniversary of the Agreement, $1,000 per month from the second anniversary, $1,500 per month from the third anniversary and $2,000 per month from the sixth anniversary, and, thereafter, for the term of the Agreement. In addition, Aurora Metals will be responsible for payment of annual fees to the U.S. Bureau of Land Management for the unpatented claims, and property ownership taxes on patented claims. A Net Smelter Return of 2% will apply to all products from future mining operations.
Nice and quick DD there Stock Lobster
Good chart, thank you. Notice volume started upticking a few days ago at .02. Someone's been accumulating for a few days. This is one of the biggest volume surges in a few years.
I hope I'm not reading too much into this activity...however the stock doesn't even have a messageboard on Stockhouse.ca, the home of discussion regarding most resource stocks.
I think the market has pretty much forgotten about AURMF
Looks like you guys have stumbled onto a little something here.
Now thats interesting!
Re the Stillwater MT mineralization, per USGS:
Beartooth Uplift and Cretaceous Volcanic Centers
http://pubs.usgs.gov/wri/wri984269/geology.html
Mineral deposits of the Stillwater Complex (fig. 9) include chromium, nickel, copper, and platinum-group elements (PGE). The deposits are stratiform and exhibit great lateral continuity (Elliott and others, 1983). The nickel-copper deposits are concentrated at the base of the complex as sulfide-rich zones that have been identified as large tonnage, low-grade resources (Zientek, 1993). PGE occur near the base of the complex and also a few thousand meters above the base in a thin, laterally persistent interval of PGE-enriched disseminated sulfide mineralization (Zientek, 1993). The Stillwater Complex contains the largest identified resources of PGE and chromium in the U.S., in addition to major nickel and copper resources (Hammarstrom and others, 1993a). Undiscovered deposits of copper, nickel, chromium, and platinum-group elements are likely to be present in the complex (Zientek, 1993).
It's an all time low... Love the tiny volume history... she's thin...
Looking at the 3 year chart, this is the highest this stock has traded in a year....
wazzup?
http://img403.imageshack.us/img403/9906/stockchartstrb0c4fbazl8.png
The project page on their website is very interesting...
http://www.aurorametalsbvi.com/projects.htm
fyi: NEWS RELEASE 01-05 January 11, 2005
http://www.aurorametalsbvi.com/newsreleases/NR01-05Jan0905.pdf
AURORA METALS ANNOUNCES JOINT VENTURE ON STILLWATER PROPERTIES
Denver, Colorado: Aurora Metals (BVI) Limited (“the Company”, OTC BB: AURMF), announces that it has signed a letter of intent with Trend Mining Company (“Trend”, OTC BB: TRDM) to enter into a joint venture agreement (“Agreement”) under which Trend will carry out exploration for platinum group metals (“PGM”) on certain claim blocks held under lease by the Company in the Stillwater Complex, south-central Montana.
Under the terms of the Agreement, Trend will be the operator during the exploration phase of the joint venture and can earn 50% in the claim blocks by spending $2 million over five years. Work commitments during the first and second year are $100,000 and $400,000 respectively, after which work commitments are $500,000 per year. Upon spending $2 million, a joint venture company will be formed by the Company and Trend to operate and further develop the properties.
Sheesh. If those OS numbers still hold true, would leave a float closer to 15MM
They had been involved in a platnium exploration project...PGMS probably one of the most valuable of the precious metals groups, as its used for both investment and industrial purposes
Name and Address of Amount and Nature
Beneficial Owner Of Beneficial Owner Percentage of Class
------------------------------------------- ------------------- --------------------
International Mining & Finance Corporation
1299 Gilpinst #18 1,300,000 6.51%
Denver, Colorado, USA 80218
------------------------------------------- ------------------- --------------------
Officers and Directors
------------------------------------------- ------------------- --------------------
John A.A. James,
2055 South Ingalls Way, 2,638,627 13.21%
Lakewood, Colorado, USA 80227-2515
------------------------------------------- ------------------- --------------------
A. Cameron Richardson,
1505-1060 Alberni Street, 1,057,500 5.29%
Vancouver, B.C. Canada V6E 4K2
------------------------------------------- ------------------- --------------------
Total - Officers and Directors (2 persons) 3,696,127 18.50%
--------------------------------------------------------------------------------------
Very interesting...no news on this one. Anticipation of some development?
Thanks for the board. Marked!
Pretty interesting...
Nice move upward
Somebody is loading those .10's!
11:54:21 5000 0.10 - OTCBB
11:53:54 20000 0.10 - OTCBB
11:45:09 5000 0.13 + OTCBB
11:43:54 5000 0.12 + OTCBB
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10:18:21 1500 0.11 + OTCBB
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10:13:27 5000 0.10 + OTCBB
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10:13:03 10000 0.09 + OTCBB
10:11:30 5000 0.07 + OTCBB
09:59:09 10000 0.06 - OTCBB
09:50:54 5000 0.06 - OTCBB
09:30:30 5000 0.07 + OTCBB
Grabbed a starter... Someone appears to be buying pretty heavy today...
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