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Beautiful..
Glencore shares slide as investigators circle
26 April 2019, 12:55
Shares in Glencore (GLEN) have slumped by almost 4% to 309p after the mining company announced it is under investigation. US regulator the Commodity Futures Trading Commission (CFTC) is to probe the company over potential corrupt practices linked to commodities.
The company said the CFTC investigation is similar in scope and subject matter to the current investigation into the firm from the US Department of Justice (DOJ).
The DOJ is probing Glencore over money laundering related to its operations in Nigeria, Venezuela and the Democratic Republic of Congo.
The company added it will cooperate with the CFTC, and that its response will be managed by its Investigations Committee, which was set up in July 2018 to oversee its response to the investigation by the DOJ.
TRACK RECORD
This latest blow comes after the former head of Glencore’s copper business was fined $1.8m in December by Canadian regulators and banned from serving as a company director for four years, following misleading financial statements issued by the company’s Congo subsidiary.
BMO Capital Markets analyst Edward Sterck warns that the investigation could lead to further fines if Glencore is proven guilty, although that outcome is far from certain. In a fair legal system even corporations are innocent until proven guilty.
But investors will be wary of another threat hanging over the company, one that could drag on the share price for some time. The investigation is likely to prove complex and could take several years to play out.
TAKING A TOLL
Glencore has had a tough time recently, missing earnings forecasts in its 2018 full year results and also having to deal with unfavourable changes to mining laws in the Democratic Republic of Congo. That led to royalty rates being pushed up, new taxes imposed and policies introduced that will restrict the repatriation of profits.
Though while the company has a cocktail of problems to overcome Sterck remains upbeat on its prospects. He highlights Glencore’s attractive valuation, and 2019 and 2020 free cash flow (FCF) yields of 12% to 16% respectively. The analyst calculates peers averages of closer to 9% in 2019 and 2020.
306 million OS on TSXV, the company selling continues. Crazy.
That they may sell off or JV some non core mineral deposit assets, in order to raise cash and focus on the Iron Ore project with Glencore.
Excellent post!
Thank you for sharing.
any want to take a guess at what this means????
This will necessitate the need to potentially reposition our portfolio of gold, lithium, cobalt and nickel projects to focus primarily on our iron ore assets.
good post iron man
a nr out a week ago let the cat out of the bag on who they are dealing with Macarthur’s neighbouring claim owner, LithiumOre, a wholly owned subsidiary of Oroplata Resources has recently commenced drilling activities on its claims for lithium brine. Macarthur has been in discussions with LithiumOre over potential joint venture opportunities for its Reynolds Springs Lithium Brine Project.
Here's the upside as I see it: AUD $2.8 billion in operating profit in the first 10 years of production.
Capex will be about $330 mm for hematite/magnetite projects
Cash flow positive within a few short years.
Resource @ Moonshine = 1 billion tons magnetite, 80 million tons hematite BFO
New access to rail and port capacity. Offtake agreement with Glencore.
Huge demand from China for high quality ore (MMS' hematite is 56.2% Fe and Magnetite is 68% Fe) due to tighter environmental regulations.
The downside as I see it:
BFS study shows ore results (quality and/or quantity) off estimates by a lot. Not as bankable as hoped for.
Iron ore prices drop significantly
Poor execution in mining ops.
Lack of focus (these guys seem to go from promoting their lithium reserves to gold to iron ore depending on what's happening with metal prices. . .if they can remain focused on this iron ore story, they'll hit pay dirt. Otherwise, this will be just another bust).
The company seems to be on a roll with news, but volume has now dropped off significantly.
They need to close on that 6M financing. Then folks will take this stock more seriously, imo.
This is a long term hold for me, I just don’t like the pitiful volume right now.
But hey, there aren’t really any sellers neither.
I have no doubt that one day this stock will trade like CIA, but it will take years to reach multi dollar land, but we will get there.
cia trading in Canada watch for mms to follow there stock chart look at the os they have too
Private placement extended, look for more continued downward pressure. smh..
https://www.otcmarkets.com/stock/MMSDF/news/Macarthur-Minerals-Provides-Update-on-Private-Placement?id=225807
Which CIA? I don't think I was seeing it but trying to figure it out from your point of view.
take a look at cia 387 million shares o/s I expect mms share price will follow that
last pp,s from mms I believe insiders mainly ceo to raise money to pay Capstan to get the 6 million financing secured
MMS OS up another 400,000 shares from last weeks amount on TSXV site. That’s up from 292m, 294m, 301m, 304m, 305.1m now 305.5m since I’ve been watching it. They need to pull the reigns in on the dilution. MMS looks to be going sub .10 today.
news released today
VANCOUVER, British Columbia, April 18, 2019 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V: MMS) (the “Company” or “Macarthur”) is pleased to announce that it has engaged Orbit Drilling Pty Ltd (“Orbit Drilling”) to commence an infill drill program at its Moonshine Magnetite Project at Lake Giles (“Project”) in the Yilgarn region of Western Australia.
Highlights
The Company has contracted Orbit Drilling to complete a 30 hole infill program at the Moonshine Magnetite Project.
The drill program has been planned to upgrade the Inferred Mineral Resource estimate to a Measured Mineral Resource of approximately 100 million tonnes (“Mt”) at the Project.
Drill-hole planning was conducted by CSA Global Pty Ltd (CSA), the Company’s independent geological consultants.
The Measured Mineral Resource will underpin the bankable feasibility study (“BFS”) of the Project to be completed in 2019.
Cameron McCall, Executive Chairman of Macarthur Minerals commented;
“The Moonshine Magnetite Project contains an impressive Inferred Mineral Resource of approximately 1.3 billion tonnes of magnetite that will enable a long-term project. Our infill drill program at the Moonshine Project is aimed to convert 100 Mt of the resource to a Measured category. This will underpin the BFS of the Lake Giles Iron Ore Project and the 10 year offtake agreement previously announced with Glencore International A.G.”
Drilling Program
The drilling program is designed to coincide with the BFS for the Project to be undertaken in 2019. Mining and processing studies will be based on Measured Mineral Resources to provide greater confidence in the outcomes of the study.
The initial drilling campaign will involve 21 Reverse Circulation holes and 9 Diamond holes totaling 5,130 meters over a 4 km strike length of resource (Figure 1) The program aims to convert approximately 100 Mt of the Inferred Mineral Resource to a Measured Mineral Resource at the Moonshine deposit. Drill planning has been completed by CSA Global, who completed the early resource modelling and estimations for the Moonshine Magnetite Project.
The drilling program is also planned to obtain diamond core for the purpose of further metallurgical test-work. Diamond core is required for the BFS to refine the process flow design and provide greater understanding of ore variability. This metallurgical test-work program will commence mid-way through the drilling program as core becomes available.
Drilling is planned to commence in early May on receipt of required drilling permits, with an initial campaign of approximately 12 weeks.
Moonshine Magnetite Project
The Moonshine Magnetite Project contains an Inferred Mineral Resource consisting of 1,316 Mt @ 30.1% Fe.
The Inferred Mineral Resource estimate for the Moonshine Magnetite Project was initially prepared by CSA Global Pty Ltd (NI43-101 Technical Report filed December 17, 2009, titled “NI43-101 Technical Report on Lake Giles Iron Ore Project: Western Australia”) and was updated by Snowden
Mining Industry Consultants (NI43-101 Technical Report filed March 25, 2011, titled “Macarthur Minerals Limited: Moonshine and Moonshine North Prospects, Lake Giles Iron Project, Western Australia, NI43-101 Technical Report – Preliminary Assessment”). The Moonshine Magnetite Project has an Inferred Mineral Resource consisting of approximately 1,316 Mt @ 30.1% Fe. A Preliminary Assessment Report was prepared on the Moonshine Magnetite Project by Snowden Mining Industry Consultants in 2011.
QUALIFIED PERSONS
Mr Ian S Cooper, B.Sc., A.R.S.M., F.G.S. FAusIMM, a Fellow of the Australasian Institute of Mining and Metallurgy (membership number 107348, is a consultant of Macarthur and is a Qualified Person as defined in NI 43-101. Mr Cooper has reviewed and approved the technical information contained in this news release.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS) (OTCQB: MMSDF
news was released today, read between the lines
Chairman’s Statement to Shareholders on the Advancement of Its Major Australian Iron Ore Assets and Progress on Its Gold, Nickel and Lithium Portfolio
VANCOUVER, British Columbia, April 16, 2019 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) is pleased to provide an update to Shareholders outlining an active and significant first quarter 2019 in the ongoing development of the Company’s iron ore projects and exploration activities across the lithium, gold, nickel and cobalt projects in Western Australia and Nevada, USA.
FIRST QUARTER HIGHLIGHTS
Opened an up to US$6 million institutional Convertible Note offer to fund the production of a Bankable Feasibility Study on the Company’s iron ore projects
Binding Life-Of-Mine Off-Take Agreement with Glencore International A.G for the Lake Giles Iron Ore Project for approximately 4mtpa for the first 10 years on project start up
Company entered into exclusive negotiation agreement with Aurizon for rail haulage services for the Lake Giles Iron Ore Project
Available capacity confirmed on the Goldfields to Esperance Port rail line
Infill drilling program planned for the Moonshine magnetite deposit
Engineering firm Engenium commissioned to revise NI 43-101 compliant technical report and refine operating and capital costs of the hematite and magnetite projects
Applications have been made for three additional prospective iron ore tenements. These were properties released by Cliffs Natural Resources and are adjacent to the iron ore operations of Mt Jackson and Deception Mines
Further updates will be provided when final reports and agreements are completed.
Mr. Cameron McCall, Executive Chairman of Macarthur Minerals commented:
“Macarthur has managed to keep its extensive Western Australian iron ore projects alive through a prolonged downturn in the global iron ore market. With the upturn in the iron ore industry, it is now time to continue to focus the resources of the Company in developing these projects.
The first quarter focused on further development of the Company’s iron ore projects. Three key factors have been influencing the commercial potential of these projects in recent times: availability of third-party logistics infrastructure enabling a route to market; a change in demand by Chinese mills for cleaner, high iron content product to meet stricter environmental regulation, and; the supply impacts from Brazil coupled with lag investment time required by major iron ore suppliers to meet customer demand.
The Company’s core focus in Quarter 2 will be to continue advancing the iron projects with the commencement of an infill drilling program and bankable feasibility study for the Lake Giles Project. This will necessitate the need to potentially reposition our portfolio of gold, lithium, cobalt and nickel projects to focus primarily on our iron ore assets.
The Company will continue to actively seek joint venture partners to advance the exploration of its gold, lithium, cobalt and nickel projects. Over the last 24 months the Company has been developing the key areas of Hillside, Panorama and Bonnie Scott lithium and gold projects which form part of the Company’s extensive ~1,300 km² portfolio in the Pilbara region of Western Australia, to drill ready targets. During this period, exploration planning also continued at the Lake Giles nickel and cobalt projects in the Yilgarn to define drill ready targets. The activities undertaken to date will provide an attractive exploration portfolio for active Pilbara gold and lithium, Yilgarn nickel and cobalt, and Nevada lithium brine explorers.”
IRON ORE
During the first quarter, the Company re-evaluated the operating philosophy of its iron ore projects in Western Australia in response to several key drivers influencing the global iron ore market. A strong demand for high-grade, low impurity iron ore has seen a significant divergence between the Platts 58% Fe and 65% Fe iron indices. This has been coupled with a supply shock from the closure of several Vale operations in Brazil and the release of capacity in local infrastructure.
Based on these factors, the Company has engaged engineering firm Engenium to refine the operating and capital costs of a reduced-scale magnetite operation that would take advantage of the premium 65% iron ore market. The full outcomes of this study will be released to the market when it becomes available.
With the sale and downturn in production of the Koolyanobbing operation adjacent to Macarthur’s Lake Giles Project, access to regional established rail and port infrastructure has become available. During the period Macarthur sought to take advantage of this available capacity by:
Engaging with the rail owner Arc Infrastructure to confirm available capacity on the rail line.
Entering into an exclusive negotiation agreement with Aurizon for rail haulage services.
Engaging with the Southern Ports Authority to enable an export solution through the Port of Esperance.
Of significant importance for the commercialisation of the iron ore projects, the Company entered into a binding Life-of-Mine Off-Take agreement for up to 4 Mtpa for the first 10 years, with experienced iron ore trader, Glencore International A.G.
The Company also commenced planning for a bankable feasibility study of the Lake Giles Iron Ore Project during this busy first quarter.
GOLD, NICKEL AND COBALT
Hillside Gold Project
Macarthur’s 100% owned Hillside Gold Project in the Pilbara covers an area of ~ 400 km2 of greenstone lithologies highly prospective for gold and copper mineralisation. Historical gold mining has occurred within the tenement area with recent activity by prospectors recovering over 700 ounces of gold nuggets. Historical rock chip sampling at the Hillside Gold Project has returned results up to 55 grams per tonne gold and 7.8% copper.
In 2018 a SkyTEM survey identified multiple outstanding anomalies that require follow-up exploration in the field. Geological mapping and geochemical sampling will be undertaken across these target areas, followed by drilling of selected targets.
Panorama and Bonnie Scot Projects
In Q4 2018, the Joint Venture for the Panorama Project with Artemis Resources Limited was terminated. Macarthur continues to actively seek new venture partners for this project.
During the last quarter, a desk top review of previous exploration from historical archive report dated 1969-1971 (Planet Metals Ltd), identified the Brisbane Nickel Prospect. The Brisbane Nickel Prospect covers a small area on the western margin of E45/4779. Work completed on historical mineral claims, MC45/1076, MC45/1077 and MC45/1112, during 1970 to 1971, comprised geological mapping, costeaning, ground magnetic surveys and rock chip sampling. A magnetic survey delineated an anomaly that possibly represented a sulphide body at depth. Geology Proterozoic sediments and basalts, acid volcanic rocks of Archean age outcrops also. Dunite and olivine-rich peridotite are the principal ultramafic rock types. Orthopyroxene rich peridotites and orthopyroxenites have also been identified.
Costean sampling gave a best result of 6,319 ppm Ni. It is recommended that further geophysical work and drilling be undertaken on the anomaly.
Lake Giles
Drilling was conducted on the high priority nickel sulphide targets identified as a result of a Moving Loop Electromagnetic survey conducted in Quarter 2 2018. Two Reverse Circulation (“RC”) drill holes were completed at Moonshine North in September 2018 returning encouraging assay results.
Both holes had successfully intersected sulphide minerals at depth and semi-massive sulphide comprising 20% pyrite/pyrrhotite was recorded over 12m in hole 18MRC002 from 185m to end of hole (“EOH”). Sulphide mineralisation is open at depth and on strike with the hole ending in sulphide mineralisation.
A review of Macarthur’s data at the Snark Prospect identified two RC drill holes, LGRC_0015 and LGRC_0010, drilled by Macarthur in 2006 that intersected long intervals of anomalous Ni including 106m @ 0.14% Ni from 62 m in hole LGRC_015 and 128m @ 0.16% Ni from 108 m in hole LGRC_010 within ultramafic volcanics. In 2018 Macarthur collected rock chip samples in the vicinity of these drill holes which returned values up to 2.6% Co and 2.0% Ni.
An opportunity to advance nickel and gold exploration at Lake Giles exists by way of utilisation of the Company’s exploration database and library of geochemical sample pulps obtained during Macarthur’s iron ore drilling. These samples have mostly been analysed for the iron ore suite of elements and this presents an opportunity to re-assay already collected samples for gold and base metals.
LITHIUM
Western Australia
Macarthur’s ~1,300km2 lithium portfolio in the Pilbara has now had all Exploration Licences granted and the Company has been advancing discussions with potential partners to further the geological investigation of these tenements.
Reynolds Springs Project, Nevada USA
Macarthur holds 210 new unpatented placer mining claims at its Reynolds Springs Lithium Brine Project, located approximately 180 miles (300 km) North of Las Vegas, Nevada, and 330 miles (531 km) South East of Tesla’s new Gigafactory.
Macarthur’s neighbouring claim owner, LithiumOre, a wholly owned subsidiary of Oroplata Resources has recently commenced drilling activities on its claims for lithium brine. Macarthur has been in discussions with LithiumOre over potential joint venture opportunities for its Reynolds Springs Lithium Brine Project.
QUALIFIED PERSONS
Mr Ian S Cooper, B.Sc., A.R.S.M., F.G.S. FAusIMM, a Fellow of the Australasian Institute of Mining and Metallurgy (membership number 107348, is a consultant of Macarthur and is a Qualified Person as defined in NI 43-101. Mr Cooper has reviewed and approved the technical information contained in this news release.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS) (OTCQB: MMSDF)
Macarthur Minerals Limited is an iron ore development company with its focus on bringing into production, its sizeable, 100% owned, Moonshine Magnetite and Ularring Hematite Iron Ore Projects in Western Australia. Macarthur Minerals also has prominent (~1,130 square kilometer tenement area) exploration interests in gold, lithium, nickel, cobalt in the Pilbara region of Western Australia. In addition, Macarthur Minerals has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
“Cameron McCall”
Cameron McCall, Executive Chairman
Company Contact
Joe Phillips, CEO and Director
Email: jphillips@macarthurminerals.com
Telephone: +61 448899247
Website: www.macarthurminerals.com
For further information please contact:
Investor Cubed Inc.:
Neil Simon
E-mail: nsimon@investor3.ca
Telephone: (647) 258-3310
Fax: (416) 363-7977
once the current 6 million note gets inked we start to move , they than have money to drill 54 holes, as the project develops people will realize the size and potential here and than the price will react
It’s a good question.
Probably to drum up some volume and interest, but perhaps to ensure that the Glencore news was fully distributed throughout all proper PR/News channels.
This stock eventually does go to Dollarland++
It will take some years though :)
Why did they just repeat news we already knew? I noticed on TSXV the OS has gone from 294m to 304m to now showing 305m shares. They need to stop selling shares, once they do it will move higher imo.
Macarthur Minerals Progress Towards Rail Haulage Agreement
VANCOUVER, British Columbia, April 08, 2019 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) is pleased to announce that it has partnered with Australian freight haulage company Aurizon to finalise a rail haulage contract for its Lake Giles Moonshine Magnetite Project (“Project”) in the Yilgarn region of Western Australia. This news follows the Company’s recent announcement that it has signed a binding Life-of-Mine Off-Take Agreement with Glencore International A.G. for the sale of iron ore to be produced from the Project from the commencement of commercial production.
Macarthur has entered into a Negotiation Agreement with Aurizon to provide above rail haulage services including the supply of rolling stock for the purpose of transporting iron ore from the Project to the Port of Esperance. Aurizon already has rolling stock available that was previously used by other iron ore operators in the region including 325 wagons. The rolling stock is fit for purpose and compatible with rail unloading infrastructure at the Port of Esperance. This represents a key component of the logistics solution for the Project.
Aurizon was selected as the preferred operator based on its superior supply chain experience, safety and operating capability and its expertise in bulk rail freight that includes the transport of over 40 million tonnes of bulk freight and iron ore throughout Australia. Aurizon has significant rail marshalling, maintenance and traincrew facilities at the Port of Esperance, a legacy investment from its previous Cliffs iron ore haulage contract. The open access rail network owned by Arc Infrastructure has available capacity and is accessible within 90 km of the Project and runs directly to the Port of Esperance.
Cameron McCall, Executive Chairman of Macarthur Minerals commented:
“Macarthur is pleased to be working with Aurizon to advance its rail haulage requirements and is very encouraged by its availability of rolling stock for the Project. Rail transport is an integral component in our supply chain and Macarthur and Aurizon have a common goal in expanding iron ore production in the Yilgarn region.
This partnership has the potential to significantly benefit the economies of the local mining communities surrounding the Moonshine Magnetite Project along with the Port of Esperance community of Western Australia. These areas have recently suffered from a significant decline in iron ore export. The development of the Project will be a vital boost to these local communities and the highly skilled workforce available in the region.
Anna Dartnell, General Manager Iron Ore for Aurizon commented:
“Aurizon is pleased to be working with Macarthur Minerals on Iron Ore transport solutions for its Lake Giles Moonshine Magnetite Project in the Yilgarn. We have extensive expertise in safely and reliably delivering Iron Ore in this region after servicing Portman and later Cliffs for more than 20 years. We look forward to being part of this opportunity with Macarthur Minerals, growing regional Australia by delivering bulk commodities to the world.”
Australian Iron Ore Projects
Macarthur Minerals has invested in excess of A$61m on its 100% owned Iron Ore Projects which cover an area of approximately 62km² located in the Yilgarn region of Western Australia, 175km northwest of the township of Kalgoorlie. The Projects have granted Mining Leases with advanced permitting and are adjacent to existing highly developed infrastructure suitable for iron ore exports.
ABOUT AURIZON
Aurizon is Australia’s largest rail freight operator and a top 100 Australian Stock Exchange (ASX) company with a market cap of over $9.1 billion.
Aurizon’s bulk freight business delivers over 40 million tonnes of commodities a year and its coal business transport over 200 million tonnes annually.
Aurizon has significant experience in transporting iron ore in the Mid West region of Western Australia. Aurizon was the rail operator for Cliffs’ Koolyanobbing project prior to its closure, transporting over 11 million tonnes annually to the Port of Esperance.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS) (OTCQB: MMSDF)
Macarthur Minerals Limited is an iron ore development company with its focus on bringing into production, its sizeable, 100% owned, Moonshine Magnetite and Ularring Hematite Iron Ore Projects in Western Australia. Macarthur Minerals also has prominent (~1,130 square kilometre tenement area) exploration interests in gold, lithium, nickel, cobalt in the Pilbara region of Western Australia. In addition, Macarthur Minerals has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
“Cameron McCall”
Cameron McCall, Executive Chairman
www.sedar.com
go to issurer profiles type in macarthur for more dd
Recoverable value of the Lake Giles Iron Ore Projects is difficult to determine given current global conditions, in particular the fluctuating outlook in demand and price for iron ore. The operational status of these projects was assessed in the prior year, along with the carrying value, resulting in an impairment charge and write-down to estimated recoverable value of $6,000,000.
at some point mms will put a proper valuation on the asset based on current market conditions much higher than 6 million
vale is toast
they are done
they will be sued to eternity
they will go kaput
iron ore price will go up
once they put the iron ore deal to bed , expect gold and lithium news to follow and another halt may take a couple months but will be worth the wait
when and once the 6 million placement closes than we run
MMS on the move
As a courtesy to fellow board members:
I found a forum where Canadians and Australians talk about MMS.
Most of the activity, volume, and momentum clearly comes from there
But I also heard RichTVLive is going to be conducting and interview with Mccall.
https://ceo.ca/mms
MMSDF seems to have found a base at the .07 level. I just doubled my position.
Any selling from prior few days looks to be done. When the buying starts back going to see high teens quick imo. Very big bids yes.
Selling looks to be done, expecting a move higher today.
be patient folks
the 6 million financing I bet will close soon , glencore would not have come on board if mms didn,t have all their ducks lined up
once that closes expect many updates on the iron ore
No ghost town, we know what we own, just waiting for the consolidation in the $0.10-$0.12 range to finish. In 2-3 sessions this can be north of $0.30+. It’s coming.
I AM SURE HOPING...FEELS LIKE LAST WEEK IT WAS CRAZY..EVERYONR ON HERE TOUTING HOW GREAT THIS IS...NOW ITS LIKE A GHOST TOWN IN HERE...LOL
45 million + in volume and it's still at $0.10-$0.12 (CAD) the past 3 days, I would say they are selling now and about done. If they were not selling those shares that volume would have this over $0.25+ by now. My guess it ends today, latest tomorrow AM, it will show when it does. I think it will move quickly as someone is absorbing all the shares here. Really pissed they would take such great news and then sell in to it but $0.10 is holding and the volume is dying so I think she moves higher very soon.
Difficult to ignore the 2 "fire sales" of units at 0.04 (Canadian)....
Wonder if those shares are already dumped or will they be helping the price get up into dollar land beforehand??
I bought 9s today too. Back green tomorrow!
this not a flip its along ternm play the price will rise as news on iron ore comes out, 54 holes to be drilled , port access to be announced, gold , lithium jvs ?
Sell off day after 2 big ups days. There you have it! Up 100%, 50% then down 20% on lowest volume of 3, I'll take those 3 days everytime lol.
We do it again we are at:
$0.12 x 100% = $0.24 x 50% = $0.36 x -20% = $0.30 close Friday!
Let's do it
Holding up well, expecting a green close..
MMS (CAD figures):
Friday 18m volume, $1.2m $ volume, +100%
Monday 19m volume, $2.7m $ volume, +50%
Today 4m volume, $500k $ volume, -17%
Big money was adding and still holding, once these flip sellers leave we move higher again.
RIO and BHP up almost 2% premarket, close to breaking new 52 week highs and VALE reported this AM about 93 million metric tons of annual production has been shut down. Macarthur's timing couldn't have been any better!
https://www.marketscreener.com/VALE-9970050/news/Vale-Brazil-s-Vale-4Q-Iron-Ore-Production-Down-3-7-From-3Q-at-101-Million-Metric-Tons-28239351/
More articles showing MacArthur mining area getting active.
https://www.jtsi.wa.gov.au/news-media/news-detail/2018/12/20/iron-ore-exports-recommence-from-esperance
https://www.google.com/amp/s/www.proactiveinvestors.com.au/companies/amp/news/208784
Iron Ore prices continue to move higher, article last night. Maybe the TSXV should contact MMS and tell them the company was right using $100/ton 10 year figure lol. Seems spot on going forward to me, prices are only going higher as demand increases and supply decreases.
https://www.google.com/amp/s/mobile.reuters.com/article/amp/af/idAFL3N21C0CY
The most-traded iron ore futures on the Dalian Commodity Exchange rose 0.2 percent to 613 yuan ($91.26) a tonne as of 0134 GMT.
Grabbed 20k here today, looks like an easy win.
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