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more good volume today early. i think this has bottomed out and is making the turn. no news out but cant be too far away. gla, paydirt
well its still early in the day but great volume and this is the first buying ive seen come in this year so lets hope someone knows something. maybe a restart, maybe a new venture....keeping my fingers crossed. gla, paydirt
World refined lead metal supply closely balanced with demand in 2014
Feb 27, 2015 05:34 GMT Source:Scrap Monster
Tags: global lead demand, refined lead, ILZSG, lead concentrate, lead price, lead mine supply, surplus, deficit
Author: Paul Ploumis26 Feb 2015 Last updated at 07:25:34 GMT
SPOKANE (Scrap Monster): The latest statistics published by the International Lead and Zinc Study Group (ILZSG) indicates that global refined lead market ended in marginal deficit of 5,000 tons during 2014. The total reported lead inventories declined by 26,000 tons during the same period to total 580 kt at the year end.
The lead mine production in Australia, Peru, Sweden and the United States increased during the year. But they were just not adequate to compensate for the decline in production in other countries such as Bolivia, Canada, South Africa, Turkey and China. The overall global lead mine production reduced by 2.2% when compared with 2013. Meantime, the Chinese lead mine production fell 4.8% over the year.
The world lead mine output during the year totaled 5.314 million tons as against 5.435 million tons during 2013.
The refined lead metal production during the year totaled 11.274 million tons, 1.4% higher when compared with the 11.122 million tons output during 2013. The refined lead metal production surged higher in China, India, Italy, Kazakhstan and the Republic of Korea, whereas it declined sharply in Peru and the US. The closure of operations at La Oroya and Herculaneum led to reduced refined lead metal supply.
The global demand for refined lead metal increased by 1.4% to 11.279 million tons during 2014. The European apparent usage increased by 3.1%. China reported a demand rise of 2% during the year. The apparent consumption in the US contracted by 1.5%.
Lead prices will improve 'significantly' in H2 2015 – Citi
February 11, 2015 - 15:37 GMT Location: London
KEYWORDS: lead , LME , lead-acid batteries , zinc
Lead prices will improve “significantly” in the second half of 2015, as the metal is undervalued in the light of its fundamentals, analysts at Citi said.
Lead will average $1,880 per tonne in the first quarter of 2015, before improving in the latter half of the year, with prices averaging $2,060 per tonne in 2015, analysts David Wilson and Ivan Szpakowski said in a note to clients. Lead prices have been trading around a two-year low over the past few months, at a time of the year when the lead market is normally at its strongest driven by restocking from the battery industry. But although the fall in lead prices has "rung alarm bells", Citi said the anomaly suggests lead is currently..
To think you can own shares in the worlds largest lead mine for just a penny, boggles the mind. gla, paydirt
Looking for production cuts? Try lead not copper:
(Reuters) - As the dust settles after last week's copper capitulation, attention is inevitably turning to the implications for producers, particularly those perched precariously at the top end of the cost curve.
While many have already seen their share prices hammered, the copper market itself is now looking for production cuts.
With London benchmark copper trading below the $6,000-per tonne level for the first time since 2009, the potential exit of higher-cost mines is viewed as providing a fundamental support to counter the technical pressures still bearing down on the price.
And the very first casualties are starting to appear. Don't worry if you haven't noticed them yet. These are the market's minnows, as often as not already struggling with operational problems.
The first really significant production cutback in the base metals world has actually just been announced not in the copper market but in the lead market.
That says much about how long it can take before low prices generate a meaningful supply response.
FIRST COPPER CASUALTIES
Aura Minerals' Aranzazu mine in Mexico was struggling even before last week's brutal copper sell-off.
Cash costs in the third quarter of last year were $3.06 per pound, equivalent to just under $6,750 per tonne.
Aranzazu needed to be expanded to bring those costs down but Aura, which recorded operating income of just $776 in the quarter, was struggling to raise the finance.
The announcement that the mine was being put onto care and maintenance came on Jan. 15, one day after copper collapsed. It was probably just a matter of time but a price now starting with a "5" may well have been the final straw.
The production loss will be negligible. Aranzazu produced just over 6,600 tonnes of copper in concentrate last year.
Revett Mining's Troy mine in Montana is even smaller. Production in 2012 was around 3,400 tonnes. All operations were suspended in December that year due to instability in the mine and milling operations were only resumed in November last year.
The loss of production and associated rehabilitation costs meant Revett has been operating in the red with a net loss of $2.1 million in the third quarter and of $4.5 million in the first nine months of 2014.
As with Aura's Aranzazu, it's easy to see why Revett has been so quick to announce a move to care and maintenance at Troy.
And expect more of the same in the coming weeks. The first casualties of lower prices are always the "halt and the lame", small-scale operators with high costs, limited cash reserves and existing operational negatives.
If you're looking for a really significant casualty of lower prices, take a look at the lead market.
IVERNIA CLOSES (AGAIN)
Ivernia Inc last week announced it was placing its Paroo Station lead mine in Australia on care and maintenance.
Now, what was once called the Magellan mine has not been without its own operational problems since first coming into production in 2005.
A public outcry over lead contamination along the shipping route to and at the port of Esperance led to operations being suspended for much of the 2007-2010 period.
A first attempt to restart was stymied by low prices and the mine spent 2011-2012 on care and maintenance before being reactivated in 2013 under its new name.
It produced 44,000 tonnes of contained lead in concentrate that year and, production wise at least, was operating well all through last year and on course to hit comfortably its guidance of 80,000-85,000 tonnes of contained lead.
The only problem was the lead price. The market has been out of favor for many, many months and the benchmark three-month price on the London Metal Exchange started heading south again towards the end of the third quarter last year.
A break down through the $2,000 per tonne level in mid-December took it back to 2012 levels and that was even before last week's copper-inspired drop to $1,743 per tonne.
Ivernia has cut costs, switching its power supply from diesel to natural gas, and postponed its debt repayment schedule. All to no avail.
The mine remained cash-flow negative in the third quarter and Ivernia reported a net loss of $3.9 million for the period. Things can only have become more difficult since then, given the further decline in price.
Paroo Station is an important component of global lead mine supply, accounting for around 2 percent of world production, according to Gayle Berry, analyst at Jefferies.
Its suspension is therefore meaningful in terms of a market that was widely expected to be in small supply-demand surplus this year.
"If closed for the whole year it would be big enough to wipe out our forecast 31,000-tonne refined surplus for 2015," Berry writes ("Base Metal Insights - Lead prices bottoming", Jan. 20, 2015).
Paroo Station is something of an anomaly, though.
It is a "pure" lead producer. Most lead is mined in tandem with zinc and other minerals, silver being the most common. That complicates any assessment of where lead's own cost curve support may lie.
As Berry and other analysts warn, therefore, it may not be indicative of any broader trend in the lead mine sector.
But it does offer a useful reminder that mine closures in response to price declines can often be a slow-fuse affair.
The first casualties are often operators so small that even their combined loss of production makes only a marginal impact on the bigger picture.
It takes a prolonged attritional period of low and then falling prices to impact the bigger players.
A useful lesson for those looking for a major reconfiguration of copper's supply side after last week's events.
(Editing by Susan Thomas)
Lead price outperforms after mine shuts, more closures possible
BY ERIC ONSTAD
LONDON Mon Jan 19, 2015 12:05pm EST
Jan 19 (Reuters) - Lead prices have bounced following a mine closure, which one analyst said could herald similar moves in other metals as sharp market falls threaten the profitability of high cost mines.
Three-month lead on the London Metal Exchange was the only metal in positive territory on Monday, closing 0.4 percent higher at $1,857 a tonne after surging 3.9 percent on Friday.
Prices jumped on expectations of lower supplies after Toronto-listed Invernia Inc. said on Friday it would suspend operations at its Paroo Station Mine in Western Australia, the world's largest lead carbonate mine.
"The current LME lead price has dropped well below sustainable levels and cannot support profitable ongoing operations," Chief Executive Wayne Richardson said in a statement. (bit.ly/1Bu2Y4s)
Lead prices tumbled by a quarter from late July last year until hitting a 30-month low of $1,743 a tonne last week.
The mine, which was forecast to produce about 80,000 tonnes of lead in concentrate last year, is unusual because it only produces lead, unlike most other lead operations which also produce sister metal zinc.
"That (80,000 tonnes) is approximately how much you're going to lose and that's substantial in the lead market," said Stephen Briggs, metals strategist at BNP Paribas in London.
"It's a very special type of lead concentrate so it's not that easy to replace with other stuff. That's why the lead price is substantially outperforming the other metals."
Although the closure has no direct impact on other metals, it could provide a signal of how last week's sharp declines in metals prices may force other closures, Briggs added.
"It makes the market aware that we're in the mode now that we're looking for mine closures in response to these price declines."
Copper slid to 5-1/2 year lows last week while other metals hit the weakest levels in many months -- 11 months for nickel, nine months for zinc and eight months for aluminium. (Reporting by Eric Onstad, editing by David Evans)
Ivernia Announces Move to Care & Maintenance Amid Difficult Market Conditions
Ivernia Inc.
January 16, 2015 7:46 AM
GlobeNewswire
TORONTO, Jan. 16, 2015 (GLOBE NEWSWIRE) -- Ivernia Inc.("Ivernia" or, collectively with its subsidiaries, the "Company") (IVW.TO) today provided an operations update for the Paroo Station Mine (the "Mine"). After review with the Finance Committee and support of the Board of Directors, management today authorized the wind-down of the Mine's operations to care and maintenance until further notice in light of weak LME lead prices that have seen a significant decline in recent weeks.
Key points:
The LME cash settlement price of lead has fallen sharply over the fourth quarter of 2014 and is trading at 30 month lows.
The Company's cost saving measures and mine optimization plan have not been enough to offset the impact of the decline in lead metal prices.
The Company will initiate a safe and orderly scaling back of operations as soon as possible and revert the operation to care and maintenance.
This action has been taken in order to preserve and protect shareholder value.
The operation remains in compliance with all operating permits and will be poised to return to full production once price conditions improve.
After reaching a high of $2269 per tonne on July 28th 2014 the LME lead price has since deteriorated 23% trading at levels not seen since June 2012. The Mine was not in operation during 2012.
"Despite record production and sales in 2014 and the progress we have made to reduce costs and improve efficiencies at the Mine, the current LME lead price has dropped well below sustainable levels and cannot support profitable ongoing operations. In order to protect shareholder value and conserve the viable deposits of our ore body, the decision has been made to place the Mine on care and maintenance until further notice," said Wayne Richardson, President and CEO.
Management has commenced discussions with its lenders, employees, customers, mining contractor, suppliers and other key stakeholders in regards to the change in operations. Management and the Board will re-evaluate the status of the Mine as market conditions warrant. Management is awaiting the outcomes from its new independent technical report on its deposits to help it assess at which lead price it could sustainably resume operations. As a result of market conditions, the Company will not be providing guidance on its expected remaining production and sales of lead contained in concentrate prior to completing a scale back of operations to care & maintenance.
Further updates will be provided as warranted.
About Ivernia
Ivernia is an international base metal mining company and the owner of the Paroo Station Mine, located in Western Australia. Ivernia trades under the symbol "IVW" on the Toronto Stock Exchange. Ivernia and the Mine operate under a management services arrangement with Enirgi Group Corporation, Ivernia's majority shareholder.
Additional information on Ivernia is available on the Company's website at www.ivernia.com and at SEDAR at www.sedar.com.
This one looks interesting. Stay tuned.......
Blue, are you still here?
Anything new for 2015 with IVWFF?
Are you still here Blue?
What is the 12 month outlook for Ivernia?
We are interest in possibly becoming investors.
IVWFF 20% up today
price going up.. i guess the mine will be active soon
NEWS: IVWFF Owns Trademark for 'MAGELLAN' mine
Feb 03, 2012 (Al Bawaba Business via COMTEX) -- Australia, Feb. 3 -- Ivernia Inc., Ontario, Canada, owns the trademark (1396970) for 'MAGELLAN' from Nov. 29, 2010, through Nov. 29, 2020.
Status: Registered/Protected
Class/es: 6 [Common metals and their alloys; ores; goods of common metal; metal building materials; small items of metal hardware; and pipes and tubes of metal] and 37 [Mining services; mining extraction; mining construction; tunnelling services; drilling services; quarrying services; machinery installation, maintenance and repair; modification and maintenance of industrial plant, machinery and equipment; engineering services; engineering fabrication; scaffolding services; sandblasting services, earth moving services; support services for mining; explosive blasting services; maintenance of equipment used for mining, building, tunnelling and construction; project management services in relation to mining; consultancy services in relation to mining operations; rental and provision of construction or mining equipment; fire, smoke and gas detector and protection system installation, maintenance and repairs; and pipeline construction and maintenance]
Type of Mark: Word
Lodgement Date: Nov. 29, 2010
Date of Acceptance: Oct. 11, 2011
Registration Advertised: Feb. 2, 2012
For further details contact Clayton Utz, Queensland, Australia.
The original document can be viewed at: http://pericles.ipaustralia.gov.au/atmoss/falcon_details.show_tm_details?p_tm_number=1396970&p_search_no=2&p_ExtDisp=D&p_detail=DETAILED&p_rec_no=124&p_rec_all=500
For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
http://www.otcmarkets.com/stock/IVWFF/news
The biggest shareholder of IVWFF, Green SEA Resources Inc. changes name to Enirgi Group Corporation
TORONTO, Feb. 2, 2012, 2012 (Canada NewsWire via COMTEX) -- Green SEA Resources Inc. announced today that it has filed articles of amendment with Industry Canada to change its name to Enirgi Group Corporation. ("Enirgi Group"), effective immediately.
Enirgi Group is a private Canadian company wholly-owned within the Sentient Group of Global Resource Funds. Enirgi Group currently owns approximately 59% of Ivernia Inc. and 100% of Natural Resources USA Corporation. Enirgi Group is assembling an inventory of primary and secondary resources and assets in the lead, lithium and sodium bicarbonate spaces.
To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/February2012/02/c9104.html
SOURCE: ENIRGI GROUP
SOURCE: GREEN SEA RESOURCES INC.
CONTACT: For further information please visitenirgi.com or contact Katherine Maclean at Enirgi
Group in Toronto, Canada -- telephone (+1) 416 365 2783.
Copyright (C) 2012 CNW Group. All rights reserved.
-0-
KEYWORD: Quebec
INDUSTRY KEYWORD: MNG
SUBJECT CODE: BUZ
http://www.otcmarkets.com/stock/IVWFF/news
95% of shares owned by Institutional investors http://www.ivernia.com/investors/pdf/192012-1.pdf
IVWFF is the world largest lead mine http://www.ivernia.com/Investors/pdf/192012-1.pdf
Insiders loading huge http://canadianinsider.com/node/7?menu_tickersearch=IVW+|+Ivernia
the corporate presentation http://www.ivernia.com/Investors/pdf/192012-1.pdf
Also BMTI just got FDA approval 9.20 now 13+ in the morning. IMO
Came across Dow news wire "Ivernia Sees 20M Gross Proceeds From Green SEA Resources Deal". Thinking that might drive it up a few IMHO ;)
u know something u aint telling me? lol
Let's see if this shoot up like a rocket tomorrow?
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LEADFX is a Perth Western Australia based mining company focused on the re-start of its flagship Paroo Station Lead Mine in Wiluna, Western Australia.
The Paroo Station mine has produced over 300,000t of lead concentrates since it was commissioned in 2005.
The mine is currently on care and maintenance pending the completion of a definitive feasibility study to build and operate a 70,000 tpa hydro-metallurgical plant on site to turn lead concentrates produced from the existing lead flotation plant to lead ingots for export.
Paroo Station Mine ("Paroo Station" or the "Mine") is located in Western Australia and is the world's largest lead carbonate mine. On January 16, 2015 the mine was placed on care and maintenance amid difficult market conditions.
Paroo Station is 100% owned by Rosslyn Hill, a wholly-owned indirect subsidiary of LEADFX.
On December 17, 2012, Rosslyn Hill Mining entered into a management services agreement ("EMG Management Services Agreement") with Enirgi Metal Group Pty Ltd. ("EMG"), a wholly-owned subsidiary of Enirgi Group Corporation ("Enirgi Group").
Under the EMG Management Services Agreement, EMG will take the l
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