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bao wow (BAO)
moscowmule - 03 Aug 2009 11:53
african minerals appears to be upping its stake - possible takeover / offer?
Balerboy
- 29 Sep 2009 09:49
- 2 of 477
Taken a punt on BAO, as chart and RNS's look good..
Balerboy
- 30 Sep 2009 08:28
- 3 of 477
Barclays now have a 7% holdind, must be of some interest......
oilyrag
- 20 Nov 2009 07:28
- 4 of 477
Baobab Resources kicks off scout drilling at Tete project
Monday, 16 Nov 2009
Small Cap News reported that Baobab Resources has got underway with a scout drilling program on parts of the Massamba Group area of its Tete magnetite ilmenite project.
During 2009, Baobab has focused its attention on exploring the Massamba Group, which comprises a cluster of 5 prospects including Chitongue Grande, Chimbala and South Zone.
In September the company released a 47.7million tonne inferred resource statement at Chitongue Grande and has now launched a 12,000 meters combined diamond and reverse circulation drilling program to test the Chimbala and South Zone prospects over the coming year.
The program has been designed to assess the 400 million tonne to 700 million tonne exploration target interpretation over the wider Massamba Group.
Mr Ben James technical director of Baobab said that the company was pleased to have been able to get the scout drilling underway so quickly after the conclusion of the first exploration phase and before the start of the wet season.
He said that 2010 will be an exciting year for Baobab as the Massamba project continues to develop and shareholders may expect a regular flow of news as results come to hand.
(Sourced from Smallcapnews.co.uk)
Monday, 16 Nov 2009
Small Cap News reported that Baobab Resources has got underway with a scout drilling program on parts of the Massamba Group area of its Tete magnetite ilmenite project.
During 2009, Baobab has focused its attention on exploring the Massamba Group, which comprises a cluster of 5 prospects including Chitongue Grande, Chimbala and South Zone.
In September the company released a 47.7million tonne inferred resource statement at Chitongue Grande and has now launched a 12,000 meters combined diamond and reverse circulation drilling program to test the Chimbala and South Zone prospects over the coming year.
The program has been designed to assess the 400 million tonne to 700 million tonne exploration target interpretation over the wider Massamba Group.
Mr Ben James technical director of Baobab said that the company was pleased to have been able to get the scout drilling underway so quickly after the conclusion of the first exploration phase and before the start of the wet season.
He said that 2010 will be an exciting year for Baobab as the Massamba project continues to develop and shareholders may expect a regular flow of news as results come to hand.
(Sourced from Smallcapnews.co.uk)
moneyplus
- 06 Jan 2010 20:36
- 5 of 477
I'm holding since last week and pleased to see a nice steady rise. Lots of news expected this month--this could be the share of 2010!
required field - 07 Jan 2010 09:24 - 6 of 477
I must be barking mad but I've bought into the "bow wow" stock as well.....Kenmare resources (KMR) are not far away in that part of the world and that should pick up as well this year....I can see this being taken over....further down the line....
required field - 26 Mar 2010 11:09 - 7 of 477
Now this is taking off....
ravey davy gravy
- 15 Apr 2010 18:00
- 8 of 477
Heard a few good things about Bao and sentiment is very hot for them.
Think there is an easy 30-50% or more to be made this month in this stock.
Think there is an easy 30-50% or more to be made this month in this stock.
required field - 16 Apr 2010 22:51 - 9 of 477
Bought back in today...in the nick of time, by the look of things....
cynic
- 17 Apr 2010 09:00
- 10 of 477
my younger son holds these and has done very well from them .... perhaps i should adopt him as my teacher!
required field - 17 Apr 2010 10:06 - 11 of 477
The market cap is tiny....and things seem to be moving fast in that part of the world.
Balerboy
- 17 Apr 2010 22:13
- 12 of 477
is his handle mitzy.....cynic??? or maybe Kate
cynic
- 18 Apr 2010 07:30
- 13 of 477
aka "squit"!
dealerdear - 18 Apr 2010 16:45 - 14 of 477
I've done very well on these the last few months trading the technicals.
Great little company with a big future IMO
Great little company with a big future IMO
blanche - 20 Apr 2010 12:40 - 15 of 477
Joined the party here this morning with a couple of grands worth, as a starting punt. Long term hold imo as above says big future.
Balerboy
- 20 Apr 2010 13:33
- 16 of 477
fresh out of booze at the mo, blanche. Will have to be round your place....
Andy
- 26 Apr 2010 00:43
- 17 of 477
Balerboy
- 13 May 2010 16:10
- 18 of 477
I got a nice rise on this one...lets hope it keeps going..
halifax - 13 May 2010 16:34 - 19 of 477
bb keep taking the tablets!
Balerboy
- 13 May 2010 16:35
- 20 of 477
am in good profit....tablets working well in that case....:))
edit... the blue ones are my favourite....
edit... the blue ones are my favourite....
Andy
- 11 Jun 2010 13:20
- 21 of 477
blanche - 19 Jul 2010 08:22 - 22 of 477
More good news here this morn. Lets hope it reflects in the sp.
blanche - 24 Sep 2010 17:17 - 23 of 477
Topped up here today. Nice rise, Expecting this to be my next bagger. News and results soooooon. gla......dyor
Balerboy
- 24 Sep 2010 22:15
- 24 of 477
following on a free ride at the mo, certainly creeping up. :))
blanche - 08 Nov 2010 10:40 - 25 of 477
StockMarketWire.com
Mozambique mining group, Baobab Resources says that drilling continues to delineate substantial widths of mineralisation at the South Zone prospect with 3,500m now completed.
Drilling in the north of the South Zone prospect area has intersected a 200m wide sequence of stacked, steeply dipping, heavily mineralised packages over a strike length in excess of 300m. Mineralisation remains open along strike and at depth.
The Group says it has successfully secured a second RC drill rig to improve productivity and accelerate the drilling campaign.
Baobab's Managing Director,Ben James comments:"The results to date are beginning to reveal the greater potential of the South Zone prospect.
"Drilling currently underway in the northern portions of the area is delineating a substantially wider zone of mineralisation than anticipated that has yet to be closed off along strike and at depth."
This excellent news should kick the sp moving back up 8-)
Mozambique mining group, Baobab Resources says that drilling continues to delineate substantial widths of mineralisation at the South Zone prospect with 3,500m now completed.
Drilling in the north of the South Zone prospect area has intersected a 200m wide sequence of stacked, steeply dipping, heavily mineralised packages over a strike length in excess of 300m. Mineralisation remains open along strike and at depth.
The Group says it has successfully secured a second RC drill rig to improve productivity and accelerate the drilling campaign.
Baobab's Managing Director,Ben James comments:"The results to date are beginning to reveal the greater potential of the South Zone prospect.
"Drilling currently underway in the northern portions of the area is delineating a substantially wider zone of mineralisation than anticipated that has yet to be closed off along strike and at depth."
This excellent news should kick the sp moving back up 8-)
skyhigh - 14 Nov 2010 14:52 - 26 of 477
bought into BAO on Friday at 4.17p.
I'm already in RRR from a few months ago at 2.25/2.5p so very happy with current sp level hoping that'll go much higher (imho)
Also bought some RGM on Friday.
I'm also in AAU, VOG and VGM which is now a 3.5 bagger for me...so it's all looking good at the moment!.
I'm already in RRR from a few months ago at 2.25/2.5p so very happy with current sp level hoping that'll go much higher (imho)
Also bought some RGM on Friday.
I'm also in AAU, VOG and VGM which is now a 3.5 bagger for me...so it's all looking good at the moment!.
required field - 14 Nov 2010 17:36 - 27 of 477
At 4.17p.... ?
skyhigh - 15 Nov 2010 07:56 - 28 of 477
ooops! 4.17p was for RGM (bought too early in the day, could've got lower had I waited for the afternoon!)
I got in BAO at 11.18p...nice RNS released this morning!
I got in BAO at 11.18p...nice RNS released this morning!
skyhigh - 17 Nov 2010 11:52 - 29 of 477
News just released..
Early days and SP may retrace...will buy more if the sp weakens
Baobab signs JV heads of agreement with North River
StockMarketWire.com
Baobab Resources has signed a joint venture heads of agreement with North River Resources for the Monte Muande magnetite/phosphorus, base and precious metal project in the Tete province of Mozambique.
Baobab says the JV has a four-year, three-stage investment structure:
* Stage 1 investment of $625,000 to earn a 60% interest in the project.
* Stage 2 investment to bring discoveries to pre-feasibility status to increase Project interest to 75%.
* Stage 3 investment to fund a definitive feasibility study to earn a 90% total interest in the project.
North River has the option to fund pro-rata at stages two and three to maintain its 40% interest in the project.
Baobab will assume technical management and operational responsibilities for the project.
Early days and SP may retrace...will buy more if the sp weakens
Baobab signs JV heads of agreement with North River
StockMarketWire.com
Baobab Resources has signed a joint venture heads of agreement with North River Resources for the Monte Muande magnetite/phosphorus, base and precious metal project in the Tete province of Mozambique.
Baobab says the JV has a four-year, three-stage investment structure:
* Stage 1 investment of $625,000 to earn a 60% interest in the project.
* Stage 2 investment to bring discoveries to pre-feasibility status to increase Project interest to 75%.
* Stage 3 investment to fund a definitive feasibility study to earn a 90% total interest in the project.
North River has the option to fund pro-rata at stages two and three to maintain its 40% interest in the project.
Baobab will assume technical management and operational responsibilities for the project.
skyhigh - 17 Nov 2010 12:03 - 30 of 477
Results just released....there's alot going on and plenty to look forward to over the next few yrs..am staying in for the LTH.....sp reating well..onwards and upwards
Outlook
Over the past 12 months the Group has developed the Tete project from a concept
to a Group flagship. While there is still a significant amount of work ahead,
the salient fundamentals of the project continue to fall into place:
- The maiden 47.7Mt Inferred Resource and 400 - 700Mt Exploration Target
exceeds perceived requirements with respect to resource scale.
- Metallurgical test work points towards the viable production of discrete,
high quality magnetite/vanadium and titanium concentrate products with
potentially significant downstream upside.
- The project is strategically located to access existing and expanding
infrastructure and complementary resources.
- Ideal partnership with the IFC for a project of this scale.
- Scout and step-out drilling outlining areas of additional resource
potential.
2010/2011 will be an exciting period for Baobab as the Group continues to drive
the Tete project towards feasibility. Investments secured during the reporting
period, in conjunction with the on-going commitment by IFC, means the Group is
fully funded to complete 2010 scout and step-out resource drilling and
metallurgical campaigns. Current market sentiment and longer term iron ore and
related metals forecasts are positive, making the bulk commodity space an
exciting arena in which to be working.
Baobab also holds a suite of enviable base and precious metal assets in its
portfolio. The Group is confident that it will be able to move them forward by
way of further institutional support and joint venture initiatives.
All mineral exploration licences are in good standing with those due for
prorogation during the reporting period extended for an additional two to five
years.
Outlook
Over the past 12 months the Group has developed the Tete project from a concept
to a Group flagship. While there is still a significant amount of work ahead,
the salient fundamentals of the project continue to fall into place:
- The maiden 47.7Mt Inferred Resource and 400 - 700Mt Exploration Target
exceeds perceived requirements with respect to resource scale.
- Metallurgical test work points towards the viable production of discrete,
high quality magnetite/vanadium and titanium concentrate products with
potentially significant downstream upside.
- The project is strategically located to access existing and expanding
infrastructure and complementary resources.
- Ideal partnership with the IFC for a project of this scale.
- Scout and step-out drilling outlining areas of additional resource
potential.
2010/2011 will be an exciting period for Baobab as the Group continues to drive
the Tete project towards feasibility. Investments secured during the reporting
period, in conjunction with the on-going commitment by IFC, means the Group is
fully funded to complete 2010 scout and step-out resource drilling and
metallurgical campaigns. Current market sentiment and longer term iron ore and
related metals forecasts are positive, making the bulk commodity space an
exciting arena in which to be working.
Baobab also holds a suite of enviable base and precious metal assets in its
portfolio. The Group is confident that it will be able to move them forward by
way of further institutional support and joint venture initiatives.
All mineral exploration licences are in good standing with those due for
prorogation during the reporting period extended for an additional two to five
years.
blanche - 17 Nov 2010 12:11 - 31 of 477
Need the sp to get through this bloody 12p and stay there!!
skyhigh - 17 Nov 2010 12:12 - 32 of 477
Yeh..see what you mean..it's fallen back already
blanche - 02 Dec 2010 16:34 - 33 of 477
Sector: Mining
Price: 11.8p
Market cap: 19m
Forecast net cash (m) 2.1
Forecast gearing ratio (%) N/A
Market AIM
Share price graph (p)
Company description
Baobab Resources is focused on
developing its Tete
iron-vanadium-titanium open-pit project
in central-western Mozambique. A
pre-feasibility study is expected in mid
2011.
Price performance
% 1m 3m 12m
Actual 6.8 34.3 84.3
Relative* 7.7 26.3 66.6
* % Relative to local index
Analyst
Charles Gibson
Baobab Resources (BAO)
INVESTMENT SUMMARY
Baobab's focus is the Tete Fe-Vn-Ti project close to Cahora Bassa in Mozambique. The
companys currently declared JORC resource is 47.7Mt at 25.3% Fe, which we estimate
should rise to c 340Mt at 27.3% in due course. Baobab does not intend to develop its mine
alone and is looking to take on a partner before completing a BFS. Its announcement of a 5m
equity facility leaves it funded until c FY14. Recent initiatives include negotiating a boundary
change to give it access to an area (never previously explored) showing both prominent
magnetite ridges and lower Karoo (ie coal) sediments. A recent joint venture makes it the
operator on ground that was previously very well explored indicating massive magnetite
mineralisation with no associated deleterious elements.
INDUSTRY OUTLOOK
Baobab has an EV equivalent to c US$2/t JORC iron (cf an industry average of US$3.53/t).
Pro-rata the higher resource estimate implies a share price of c 65p (49p after dilution), rising
to over 1 at the industry average rating.
Y/E Jun Revenue EBITDA PBT EPS P/E P/CF
(m) (m) (m) (p) (x) (x)
2009A 0.3 (1.5) (1.6) (1.9) N/A N/A
2010A 0.0 (2.0) (2.0) (1.4) N/A N/A
2011E 0.0 (2.1) (2.1) (1.3) N/A N/A
2012E N/A N/A N/A N/A N/A N/A
36 2
Price: 11.8p
Market cap: 19m
Forecast net cash (m) 2.1
Forecast gearing ratio (%) N/A
Market AIM
Share price graph (p)
Company description
Baobab Resources is focused on
developing its Tete
iron-vanadium-titanium open-pit project
in central-western Mozambique. A
pre-feasibility study is expected in mid
2011.
Price performance
% 1m 3m 12m
Actual 6.8 34.3 84.3
Relative* 7.7 26.3 66.6
* % Relative to local index
Analyst
Charles Gibson
Baobab Resources (BAO)
INVESTMENT SUMMARY
Baobab's focus is the Tete Fe-Vn-Ti project close to Cahora Bassa in Mozambique. The
companys currently declared JORC resource is 47.7Mt at 25.3% Fe, which we estimate
should rise to c 340Mt at 27.3% in due course. Baobab does not intend to develop its mine
alone and is looking to take on a partner before completing a BFS. Its announcement of a 5m
equity facility leaves it funded until c FY14. Recent initiatives include negotiating a boundary
change to give it access to an area (never previously explored) showing both prominent
magnetite ridges and lower Karoo (ie coal) sediments. A recent joint venture makes it the
operator on ground that was previously very well explored indicating massive magnetite
mineralisation with no associated deleterious elements.
INDUSTRY OUTLOOK
Baobab has an EV equivalent to c US$2/t JORC iron (cf an industry average of US$3.53/t).
Pro-rata the higher resource estimate implies a share price of c 65p (49p after dilution), rising
to over 1 at the industry average rating.
Y/E Jun Revenue EBITDA PBT EPS P/E P/CF
(m) (m) (m) (p) (x) (x)
2009A 0.3 (1.5) (1.6) (1.9) N/A N/A
2010A 0.0 (2.0) (2.0) (1.4) N/A N/A
2011E 0.0 (2.1) (2.1) (1.3) N/A N/A
2012E N/A N/A N/A N/A N/A N/A
36 2
skyhigh - 02 Dec 2010 17:24 - 34 of 477
Thanks Blanch....not sure what it all means though!.......are we looking at an SP of 1 in a few years time?
skyhigh - 30 Dec 2010 10:18 - 35 of 477
back up to the 12p level..this can only get better from here! (imho) Lots of good news to come thru 2011
skyhigh - 30 Dec 2010 17:13 - 36 of 477
Looks to be breaking through the 13p level at last!....onwards and upwards!
cynic
- 31 Dec 2010 08:37
- 37 of 477
my younger son liked these and bought at about 8p - too many imo - so i let him persuade me to buy in too a few days ago, albeit that i average about 13.5 .... mind you, he owes me at least a couple of pints as i got him into XEL!
required field - 31 Dec 2010 08:49 - 38 of 477
Been holding for ages now.....one by one these aim stocks are taking turns for a rapid rise..now it's BAO turn.....ANR could be one of the next ones....
blanche - 31 Dec 2010 11:11 - 39 of 477
This rise is long overdue should 20p in my book. also hold anr rise they sooooon.
Balerboy
- 31 Dec 2010 13:08
- 40 of 477
just got a few on a free ride!! clever me. if it looks like heading for 20p might buy a few more.,. hello!
p.s. What a good finish to 2010 and a good start to 2011.,.
p.s. What a good finish to 2010 and a good start to 2011.,.
blanche - 04 Jan 2011 09:54 - 41 of 477
20p coming !!
cynic
- 04 Jan 2011 10:06
- 42 of 477
i believe there are some announcements (progress reports?) due during january
blanche - 04 Jan 2011 10:10 - 43 of 477
Yep, could be this week.
cynic
- 14 Jan 2011 08:49
- 44 of 477
No2 Son has earned a big hug for persuading me into these ..... certainly a lot of upward momentum, so fingers x'ed that it's not just wind
required field - 14 Jan 2011 09:00 - 45 of 477
At long last some of my tiddlers are booming....great stuff.....
skyhigh - 14 Jan 2011 17:55 - 46 of 477
Looking good.. it's done nicely this week....more of the same fpr next week pleeeeaze!
required field - 14 Jan 2011 18:33 - 47 of 477
Super..Dooper.....wonderful.....
Balerboy
- 14 Jan 2011 20:02
- 48 of 477
also topped up my freebies today.,.
cynic
- 17 Jan 2011 08:50
- 49 of 477
good rns today saw initial jump in sp though it seems to have come back a smidge, presumably on "selling on the news" ..... it would be nice to think further upside imminent
blanche - 31 Jan 2011 08:16 - 50 of 477
Fantastic news today!!! Buy Buy Buy!! if you can. 8-)
blanche - 31 Jan 2011 08:17 - 51 of 477
Peeps gonna sit up and take notice now. W H O O S H !!!!! COMING
cynic
- 31 Jan 2011 08:34
- 52 of 477
i took my profits here about 10 days ago albeit at below current level .... certainly no complaints and shall equally certainly keep watching .... however, with the markets in very twitchy mood, i am disinclined to jump back in - i have no hang-up about buy back when price above my previous selling price
blanche - 31 Jan 2011 08:52 - 53 of 477
I personally i think this is gonna fly bigtime very soon. Cynic don`t think you will be able to buy back in lower than this. The only way is up from here imvho.
cynic
- 31 Jan 2011 10:48
- 54 of 477
minnows are very hard to predict which is why generally i just trade them - i.e. take a respectable profit when its on offer and sp seems to have stalled - or something along those lines
blanche - 31 Jan 2011 14:39 - 55 of 477
Should start to move more once we get eddison report, which should be anytime now. imvho
blanche - 01 Feb 2011 08:42 - 56 of 477
BORROWED FROM ANOTHER THREAD. MANY THANKS TO THE ORIGINAL POSTER.
Northland Capital Partners Morning Report
OIL AND GAS: BAOBAB RESOURCES (BAO.L); 17.75p/29.5m, CORP
FROM YESTERDAY: VERY ENCOURAGING DATA COMPILATION RESULTS AT NORTH RIVER JOINT VENTURE
The first phase of the project is the compilation of existing data from an exploration programme by the Geological Institute of Belgrade GIB from 1983-1985. Significant Head Grade intercepts include:
Diamond Drill Holes: D-12: 40.1m at 23.2% Fe and 4.98% P2O5 from surface; D-21: 44.1m at 33.3% Fe and 3.21% P2O5 from 44.4m; G-16: 62.3m at 25.1% Fe and 4.74% P2O5 from 13.5m; H-16: 39.5m at 22.2% Fe and 5.91% P2O5 from surface;LM-11.5: 39.6m at 28.1% Fe and 4.71% P2O5 from surface
Trenches: T-3: 41.5m at 49.5% Fe and 1.04% P2O5;T-11: 71.0m at 34.7% Fe and 1.56% P2O5; T-12: 85.0m at 40.1% Fe and 2.07% P2O5;T-13: 57.0m at 43.2% Fe and 2.41% P2O5;T-14: 52.0m at 39.4% Fe and 3.32% P2O5.
Soil geochemistry completed by Omegacorp in 2007 outlined an anomalous iron corridor (>15% Fe) extending 4km to the southwest on a robust magnetic trend.
Geochemistry also outlined a 2,500m x 400m copper in soil anomaly immediately west of the south-western limit of the iron/phosphorous corridor.
In addition, the south-western corner of 1119L is underlain by 12km2 of the Lower Karoo, which hosts Vale's Moatize and Riversdale's Benga and Zambeze coal projects. Mapping by Mavuzi Resources in 2008 identified evidence of coal exposed in river banks and Baobab has commissioned consultants to make a more detailed assessment of coal potential as soon as conditions allow.
The Company expects to complete compilation of historical work this week to hand to consultants Coffey Mining for review in order to estimate a magnetite/phosphorus Exploration Target for the Monte Muande area.
A drilling campaign targeting 2,000m (probably comprising 10-15 diagonal holes) is due to commence in April. The initial stage of the programme will see Baobab expend $625k and on completion assume 60% ownership of the project.
Northland UK view: Whilst still early in the Monte Muande project with much to follow up, the early interpretation of the data has been particularly encouraging. Drill hole and trench results highlight the potential grades of the deposit and soil geochemistry indicates that the magnetite/phosphorus mineralisation extends for a considerable distance to the southwest. Metallurgy varies significantly to the main Tete prospect so it is likely that Monte Muande will form a distinct project but we suspect that the project will significantly enhance Baobabs overall resource. While it is too early even to hint at the type or extent of the coal present the coal indicators add another dimension. A highly promising diversification inexpensively purchased by Baobab presenting an additional strong catalyst to the already increasing prospective Massamba group.
Northland Capital Partners Morning Report
OIL AND GAS: BAOBAB RESOURCES (BAO.L); 17.75p/29.5m, CORP
FROM YESTERDAY: VERY ENCOURAGING DATA COMPILATION RESULTS AT NORTH RIVER JOINT VENTURE
The first phase of the project is the compilation of existing data from an exploration programme by the Geological Institute of Belgrade GIB from 1983-1985. Significant Head Grade intercepts include:
Diamond Drill Holes: D-12: 40.1m at 23.2% Fe and 4.98% P2O5 from surface; D-21: 44.1m at 33.3% Fe and 3.21% P2O5 from 44.4m; G-16: 62.3m at 25.1% Fe and 4.74% P2O5 from 13.5m; H-16: 39.5m at 22.2% Fe and 5.91% P2O5 from surface;LM-11.5: 39.6m at 28.1% Fe and 4.71% P2O5 from surface
Trenches: T-3: 41.5m at 49.5% Fe and 1.04% P2O5;T-11: 71.0m at 34.7% Fe and 1.56% P2O5; T-12: 85.0m at 40.1% Fe and 2.07% P2O5;T-13: 57.0m at 43.2% Fe and 2.41% P2O5;T-14: 52.0m at 39.4% Fe and 3.32% P2O5.
Soil geochemistry completed by Omegacorp in 2007 outlined an anomalous iron corridor (>15% Fe) extending 4km to the southwest on a robust magnetic trend.
Geochemistry also outlined a 2,500m x 400m copper in soil anomaly immediately west of the south-western limit of the iron/phosphorous corridor.
In addition, the south-western corner of 1119L is underlain by 12km2 of the Lower Karoo, which hosts Vale's Moatize and Riversdale's Benga and Zambeze coal projects. Mapping by Mavuzi Resources in 2008 identified evidence of coal exposed in river banks and Baobab has commissioned consultants to make a more detailed assessment of coal potential as soon as conditions allow.
The Company expects to complete compilation of historical work this week to hand to consultants Coffey Mining for review in order to estimate a magnetite/phosphorus Exploration Target for the Monte Muande area.
A drilling campaign targeting 2,000m (probably comprising 10-15 diagonal holes) is due to commence in April. The initial stage of the programme will see Baobab expend $625k and on completion assume 60% ownership of the project.
Northland UK view: Whilst still early in the Monte Muande project with much to follow up, the early interpretation of the data has been particularly encouraging. Drill hole and trench results highlight the potential grades of the deposit and soil geochemistry indicates that the magnetite/phosphorus mineralisation extends for a considerable distance to the southwest. Metallurgy varies significantly to the main Tete prospect so it is likely that Monte Muande will form a distinct project but we suspect that the project will significantly enhance Baobabs overall resource. While it is too early even to hint at the type or extent of the coal present the coal indicators add another dimension. A highly promising diversification inexpensively purchased by Baobab presenting an additional strong catalyst to the already increasing prospective Massamba group.
blanche - 01 Feb 2011 14:21 - 57 of 477
Edison Note Out!
Baobab has, this week, released the details of historic exploration results relating to its Monte Muande magnetite/phosphate joint venture. The results of the 28 drill holes and 38 trenches completed on the project by the Geological Institute of Belgrade (GIB) in the early 1980s demonstrated grades as high as 67.7% Fe and aggregate widths as high as 214m. The absence of systematic sampling and wide drill hole and trench spacing suggests that relatively little of GIBs data would yet support a JORC code-compliant resource. Consultants have been commissioned to estimate an Exploration Target and to conduct preliminary investigations into potential mineral processing flow sheets to generate discrete magnetite and phosphate concentrate products. Nevertheless, given the data presented, we estimate that Baobab could potentially declare an immediate resource of c 13.7Mt at 40.9% Fe and a c 220Mt exploration target. At an industry average valuation, such a deposit would be worth an immediate c US$19.8m to Baobab, or 7.1c (4.5p) per share for its 60% interest in the project.
Last updated on 01/02/2011
Industry outlookBaobab has an EV equivalent to c US$2/t JORC iron (cf an industry average of US$3.53/t). Pro-rata the higher resource estimate implies a share price of c 65p (49p after dilution), rising to over 1 at the industry average rating
Baobab has, this week, released the details of historic exploration results relating to its Monte Muande magnetite/phosphate joint venture. The results of the 28 drill holes and 38 trenches completed on the project by the Geological Institute of Belgrade (GIB) in the early 1980s demonstrated grades as high as 67.7% Fe and aggregate widths as high as 214m. The absence of systematic sampling and wide drill hole and trench spacing suggests that relatively little of GIBs data would yet support a JORC code-compliant resource. Consultants have been commissioned to estimate an Exploration Target and to conduct preliminary investigations into potential mineral processing flow sheets to generate discrete magnetite and phosphate concentrate products. Nevertheless, given the data presented, we estimate that Baobab could potentially declare an immediate resource of c 13.7Mt at 40.9% Fe and a c 220Mt exploration target. At an industry average valuation, such a deposit would be worth an immediate c US$19.8m to Baobab, or 7.1c (4.5p) per share for its 60% interest in the project.
Last updated on 01/02/2011
Industry outlookBaobab has an EV equivalent to c US$2/t JORC iron (cf an industry average of US$3.53/t). Pro-rata the higher resource estimate implies a share price of c 65p (49p after dilution), rising to over 1 at the industry average rating
blanche - 02 Feb 2011 10:20 - 58 of 477
HAPPY DAYS !!!!!!
blanche - 02 Feb 2011 10:22 - 59 of 477
This is gonna re rate on jorc!! imvho..... Anytime now.
cynic
- 02 Feb 2011 10:56
- 60 of 477
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! ..... 25k lots and just may allow greed to convince me to buy another
blanche - 02 Feb 2011 17:05 - 61 of 477
Well, passed my prediction post 41. Updated 30p coming 8-)
required field - 03 Feb 2011 09:16 - 62 of 477
One to be in...that's for sure.....
skyhigh - 08 Feb 2011 20:53 - 63 of 477
Looking good...! I'm staying in for the 1 sp (imho, dyor)
Balerboy
- 09 Feb 2011 07:46
- 64 of 477
So many rigs....such a lot to do......looking good:
9th FEBRUARY 2011
Baobab Resources plc ('Baobab' or the 'Company'), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, is pleased to announce that two reverse circulation (RC) drill rigs have mobilised to South Zone over the weekend and are currently drilling in Blocks 1 and 7.
Contracts are currently being finalised with two drilling companies to ensure a fleet of three RC rigs and two diamond drill rigs are available to support the Company's aggressive 30,000 metre drilling campaign in Tete through the 2011 season.
Commenting today, Ben James, Baobab's Managing Director, said: "We are very pleased that we have been able to recommence resource drilling at South Zone. Although the wet season is by no means over, getting started early will enable us to bring forward project timelines."
9th FEBRUARY 2011
Baobab Resources plc ('Baobab' or the 'Company'), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, is pleased to announce that two reverse circulation (RC) drill rigs have mobilised to South Zone over the weekend and are currently drilling in Blocks 1 and 7.
Contracts are currently being finalised with two drilling companies to ensure a fleet of three RC rigs and two diamond drill rigs are available to support the Company's aggressive 30,000 metre drilling campaign in Tete through the 2011 season.
Commenting today, Ben James, Baobab's Managing Director, said: "We are very pleased that we have been able to recommence resource drilling at South Zone. Although the wet season is by no means over, getting started early will enable us to bring forward project timelines."
skyhigh - 09 Feb 2011 19:41 - 65 of 477
Cool! onwards and upwards. I'm 80% up and continung to hold!
cielo - 14 Feb 2011 10:45 - 66 of 477
On the way up now after retracement and looking for a BREAKOUT on this new push, a very good Level 2 of 4 v 1 at 19.50 / 19/75p spread
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cielo - 14 Feb 2011 10:54 - 67 of 477
BIG WANKER ( B~stard ) done it again below.... yesterday
every time a share price rise ..... bought yesterday, no honesty and decency is what you have not got, if you want to tell us you bought say it at the time otherwise keep it for yourself .....
cynic - 02 Feb 2011 10:56 - 60 of 66
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! .....
every time a share price rise ..... bought yesterday, no honesty and decency is what you have not got, if you want to tell us you bought say it at the time otherwise keep it for yourself .....
cynic - 02 Feb 2011 10:56 - 60 of 66
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! .....
cynic
- 14 Feb 2011 13:40
- 68 of 477
do you wish top call me a liar? .... if so, then please be unequivocal, but be well aware that you tread on quicksand .... failing that, zipp it and get back to abusing yourself
fyi, i sold them all on 8/2 for a minuscule nett profit
fyi, i sold them all on 8/2 for a minuscule nett profit
blanche - 18 Feb 2011 09:10 - 69 of 477
February 17, 2011 -- By Alex MacDonald Of DOW JONES NEWSWIRES
U.K. listed, Australia-based Baobab Resources Ltd (BAO.LN) is on track to develop Mozambique's first iron ore deposit, a move which could spur the creation of a steelmaking industry in the country's central province of Tete, the company's head of exploration said Saturday.
"It is possible that there are ways to get to steel production here in Tete: thermal power, hydro power [and coking coal are] in sufficient quantities," Iain Plews told Dow Jones Newswires as he surveyed a drill rig on top of Baobab's South Zone area.
He said the company may be sitting on a resource base of around 1 billion tons of iron ore or more once all the exploration has been completed.
Baobab is prospecting for iron ore in the Tete basin where several international mining companies including Brazil's Vale SA (VALE) and Australia-based Riversdale Mining Ltd (RIV.AU) are already developing mega coking coal projects for export.
A nascent steel industry however is still years away:
Baobab Resources is still in the process of proving that the size of its iron ore discovery is large enough to be make it a commercially viable venture.
Hopes are high. Baobab Resources has already proven that 47.7 million tons of magnetite iron ore exists on a small fraction of its Tete exploration area.
It expects that by around the middle of this year, it will be able to prove it has at least another 300 million tons of proven resources and possibly as much as 400 million tons to 700 million tons in proven resources.
Baobab, which is 7% owned by the International Finance Corporation, will then move the project into a feasibility study phase where it plans to outline the best options to develop the project.
The presence of cheap hydro-electricity close by and two railway lines means Baobab could contemplate processing or beneficiating the iron ore on site and even build a steel plant.
Baobab would like to boost the ferrous content of the ore on site from 25% to 30% on average to 60% to 64%. As part of the beneficiation process, Baobab would also have to strip Ilmenite out of the ore.
Ilmenite is used to make titanium dioxide, a key ingredient used in paints.
Baobab is modeling its project on the assumption that it will be able to mine 10 million tons of ore a year and produce two key products:
3 million tons of magnetite iron ore concentrate and 1 million tons to 1.5 million tons of titanium concentrate.
The iron ore deposit would be commercially viable with an iron ore price of $70 a metric ton, said Ben James, Baobab's managing director.
This compares with $191.9/ton price for iron ore fines with 62% ferrous content delivered in to China, according to The Steel Index Wednesday.
Baobab, which has a market capitalization of about GBP35 million, expects it will cost $9 million to complete this year's drilling campaign at five projects, another $50 million to develop a bankable feasibility study for the Tete iron ore project, and $500 million to mine and process the ore.
It would need another $4 billion to smelt the iron ore into steel, James said.
"A lot of companies our size wouldn't look at smelting but because of the IFC and our long term view of Tete, we can as a viable possibility," James said.
From a funding perspective, the company expects to tap an equity line to make sure it has enough cash to complete its drilling program.
It is also considering placing 10% to 15% of the company's shares with one or two large institutions.
"We're going to have to attract a partner to the project," James said.
He expects that Baobab could start producing its first iron ore in 2015.
U.K. listed, Australia-based Baobab Resources Ltd (BAO.LN) is on track to develop Mozambique's first iron ore deposit, a move which could spur the creation of a steelmaking industry in the country's central province of Tete, the company's head of exploration said Saturday.
"It is possible that there are ways to get to steel production here in Tete: thermal power, hydro power [and coking coal are] in sufficient quantities," Iain Plews told Dow Jones Newswires as he surveyed a drill rig on top of Baobab's South Zone area.
He said the company may be sitting on a resource base of around 1 billion tons of iron ore or more once all the exploration has been completed.
Baobab is prospecting for iron ore in the Tete basin where several international mining companies including Brazil's Vale SA (VALE) and Australia-based Riversdale Mining Ltd (RIV.AU) are already developing mega coking coal projects for export.
A nascent steel industry however is still years away:
Baobab Resources is still in the process of proving that the size of its iron ore discovery is large enough to be make it a commercially viable venture.
Hopes are high. Baobab Resources has already proven that 47.7 million tons of magnetite iron ore exists on a small fraction of its Tete exploration area.
It expects that by around the middle of this year, it will be able to prove it has at least another 300 million tons of proven resources and possibly as much as 400 million tons to 700 million tons in proven resources.
Baobab, which is 7% owned by the International Finance Corporation, will then move the project into a feasibility study phase where it plans to outline the best options to develop the project.
The presence of cheap hydro-electricity close by and two railway lines means Baobab could contemplate processing or beneficiating the iron ore on site and even build a steel plant.
Baobab would like to boost the ferrous content of the ore on site from 25% to 30% on average to 60% to 64%. As part of the beneficiation process, Baobab would also have to strip Ilmenite out of the ore.
Ilmenite is used to make titanium dioxide, a key ingredient used in paints.
Baobab is modeling its project on the assumption that it will be able to mine 10 million tons of ore a year and produce two key products:
3 million tons of magnetite iron ore concentrate and 1 million tons to 1.5 million tons of titanium concentrate.
The iron ore deposit would be commercially viable with an iron ore price of $70 a metric ton, said Ben James, Baobab's managing director.
This compares with $191.9/ton price for iron ore fines with 62% ferrous content delivered in to China, according to The Steel Index Wednesday.
Baobab, which has a market capitalization of about GBP35 million, expects it will cost $9 million to complete this year's drilling campaign at five projects, another $50 million to develop a bankable feasibility study for the Tete iron ore project, and $500 million to mine and process the ore.
It would need another $4 billion to smelt the iron ore into steel, James said.
"A lot of companies our size wouldn't look at smelting but because of the IFC and our long term view of Tete, we can as a viable possibility," James said.
From a funding perspective, the company expects to tap an equity line to make sure it has enough cash to complete its drilling program.
It is also considering placing 10% to 15% of the company's shares with one or two large institutions.
"We're going to have to attract a partner to the project," James said.
He expects that Baobab could start producing its first iron ore in 2015.
blanche - 21 Feb 2011 10:35 - 70 of 477
On the move again, News coming!!! 8-) Any day now.
cielo - 21 Feb 2011 11:02 - 71 of 477
Ready for a BREAKOUT 20.75 / 21.25p +1p
MACD on the turning as the UPTREND is continuing
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MACD on the turning as the UPTREND is continuing
cielo - 21 Feb 2011 12:01 - 72 of 477
And now at that point of BREAKOUT 21.50 / 21.75p
rising and on a good level 2 of 2 v 2 after the last move was UP
MONEY AM - chart still on a mess after a week of problems
rising and on a good level 2 of 2 v 2 after the last move was UP
MONEY AM - chart still on a mess after a week of problems
cielo - 21 Feb 2011 12:19 - 73 of 477
Has gone over the previous high so now is on a BREAKOUT 22p
blanche - 21 Feb 2011 12:21 - 74 of 477
30p coming cielo 8-))
cielo - 21 Feb 2011 12:47 - 75 of 477
Maybe but I close my position, allways do it on the spike
the level 2 was moving against with 1 v 5 at 22.25 v 22.50p and not able to sell online, so the broker done it on the phone just in time
the level 2 was moving against with 1 v 5 at 22.25 v 22.50p and not able to sell online, so the broker done it on the phone just in time
blanche - 21 Feb 2011 13:09 - 76 of 477
Iam not in this to trade, Here for the long term. Great prospects. Will probally be brought out eventually thou. gltu
blanche - 22 Feb 2011 08:26 - 77 of 477
wow they`ve found more of the stuff. And more news to come in the next couple of weeks. 2011 gonna be making of this company. Not to late to climb abroad peeps 8-)
blanche - 22 Feb 2011 08:29 - 78 of 477
Print Tuesday 22 February, 2011Baobab Resources PLC
SOUTH ZONE DRILL RESULTS
RNS Number : 5918B
Baobab Resources PLC
22 February 2011
BAOBAB RESOURCES Plc
SOUTH ZONE DRILL RESULTS:
CONTINUING TO DELINEATE SUBSTANTIAL MAGNETITE MINERLISATION
22nd FEBRUARY 2011
Baobab Resources plc ('Baobab' or the 'Company'), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, is pleased to present an update on the exploration activities currently underway at the Tete iron/vanadium/titanium project.
Highlights:
Analytical results have been returned from a three hole RC (reverse circulation) drilling cross section located in Block 1, the southernmost portion of the South Zone prospect. A broad, 140m wide, body of heavily mineralised magnetite is being delineated. (Refer to Tables 1 & 2 below for details).
Mineralised intercepts reported best concentrate grades of:
TRC0031 - two significant intercepts, totaling 59m, including:
25m @ 64.0% Fe, 0.65% V2O5 and 32.3% mass recovery from 32m
TRC0032 - three significant intercepts, totaling 38m, including:
20m @ 65.2% Fe, 0.65% V2O5 and 28.6% mass recovery from surface and
16m @ 64.7% Fe, 0.71% V2O5 and 31.2% mass recovery from 65m
TRC0033 - five significant intercepts, totaling 76m, including:
15m @ 60.1% Fe, 0.74% V2O5 and 29.7% mass recovery from 48m and
48m @ 60.0% Fe, 0.59% V2O5 and 47.1% mass recovery from 91m
Results from the next Block 1 section expected to become available within the next two weeks. Current drilling continues to delineate substantial mineralisation to the north.
Mr Ben James, Baobab's Managing Director, said: "Block 1 is demonstrating excellent continuity between completed drill sections with current work programmes pushing the model out to the north.
"We are pleased to advise shareholders that all areas drilled to date have delineated substantially wider zones of mineralisation than anticipated. Following earlier positive results, Baobab's exploration management team has designed an expansion drilling programme to test continuations of the ore zones," Mr James said. "The Company recommenced drilling in early February and intends to have 3 RC rigs set to be operational by the end of the month."
Step-out RC Drilling Programme - South Zone Prospect (Massamba Group)
Due to the significant widths and interpreted lateral continuity of mineralisation at the South Zone, the prospect has been prioritised for step-out reverse circulation (RC) drilling. The programme is systematically assessing a sequence of seven mineralised zones (Blocks 1 to 7) over a strike length of some 2km, drilling on traverses spaced 100m apart.
A total of 50 RC drill holes have been planned for a combined meterage of 7,000m. Drilling commenced in August and to date thirty three holes have been completed for an aggregate total of approximately 4,500m. All areas drilled to date have delineated substantially wider zones of mineralisation than anticipated. Baobab's exploration management team has designed an expansion drilling programme, representing an additional 4,000m, to test the down dip and along strike continuations of the ore zones.
Due to the early onset of the wet season in Mozambique, the Company was obliged to suspend drilling operations in mid-December 2010. Drilling recommenced on 9 February with two RC rigs currently on site and a third mobilising this week.
The first nine RC holes were drilled in Block 3 and tested the along strike continuations of mineralisation intersected in scout diamond drill hole TDH0019 over five cross sections. Analytical results from these drill holes were announced to the market on 20 October and 8 November 2010. Due to mechanical issues, drill holes TRC0006 to 9 did not reach their target depths (TRC0007 and 8 ended in mineralisation). These four drill holes will be re-drilled, at the operator's expense, in due course and updated intercepts will be reported as soon as they become available.
Please note that drill holes have not been drilled in sequence, consequently there are gaps in the hole numbering.
Drilling in Block 7, the northern most target area, over three east-west cross sections and an oblique cross section has intersected a stacked, 200m wide sequence of moderately to steeply dipping, heavily mineralised packages over a strike length of more than 300m. Mineralisation remains open both down dip and along strike with potential parallel lodes to the east. Please refer to announcements dated 30 November 2010, 17 and 26 January 2011.
Drilling over two cross sections in the southern limit of the South Zone prospect (Block 1) has a delineated broad, c.140m wide, zone of vertically dipping magnetite mineralisation. The lode is oriented north-south and is cross cut by northeast striking dolerite dykes. Results from the southernmost section are presented below. Further results from this area are expected to become available within the next two weeks. Current drilling in Block 1 continues to delineate substantial magnetite-ilmenite mineralisation to the north.
SOUTH ZONE DRILL RESULTS
RNS Number : 5918B
Baobab Resources PLC
22 February 2011
BAOBAB RESOURCES Plc
SOUTH ZONE DRILL RESULTS:
CONTINUING TO DELINEATE SUBSTANTIAL MAGNETITE MINERLISATION
22nd FEBRUARY 2011
Baobab Resources plc ('Baobab' or the 'Company'), the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique, is pleased to present an update on the exploration activities currently underway at the Tete iron/vanadium/titanium project.
Highlights:
Analytical results have been returned from a three hole RC (reverse circulation) drilling cross section located in Block 1, the southernmost portion of the South Zone prospect. A broad, 140m wide, body of heavily mineralised magnetite is being delineated. (Refer to Tables 1 & 2 below for details).
Mineralised intercepts reported best concentrate grades of:
TRC0031 - two significant intercepts, totaling 59m, including:
25m @ 64.0% Fe, 0.65% V2O5 and 32.3% mass recovery from 32m
TRC0032 - three significant intercepts, totaling 38m, including:
20m @ 65.2% Fe, 0.65% V2O5 and 28.6% mass recovery from surface and
16m @ 64.7% Fe, 0.71% V2O5 and 31.2% mass recovery from 65m
TRC0033 - five significant intercepts, totaling 76m, including:
15m @ 60.1% Fe, 0.74% V2O5 and 29.7% mass recovery from 48m and
48m @ 60.0% Fe, 0.59% V2O5 and 47.1% mass recovery from 91m
Results from the next Block 1 section expected to become available within the next two weeks. Current drilling continues to delineate substantial mineralisation to the north.
Mr Ben James, Baobab's Managing Director, said: "Block 1 is demonstrating excellent continuity between completed drill sections with current work programmes pushing the model out to the north.
"We are pleased to advise shareholders that all areas drilled to date have delineated substantially wider zones of mineralisation than anticipated. Following earlier positive results, Baobab's exploration management team has designed an expansion drilling programme to test continuations of the ore zones," Mr James said. "The Company recommenced drilling in early February and intends to have 3 RC rigs set to be operational by the end of the month."
Step-out RC Drilling Programme - South Zone Prospect (Massamba Group)
Due to the significant widths and interpreted lateral continuity of mineralisation at the South Zone, the prospect has been prioritised for step-out reverse circulation (RC) drilling. The programme is systematically assessing a sequence of seven mineralised zones (Blocks 1 to 7) over a strike length of some 2km, drilling on traverses spaced 100m apart.
A total of 50 RC drill holes have been planned for a combined meterage of 7,000m. Drilling commenced in August and to date thirty three holes have been completed for an aggregate total of approximately 4,500m. All areas drilled to date have delineated substantially wider zones of mineralisation than anticipated. Baobab's exploration management team has designed an expansion drilling programme, representing an additional 4,000m, to test the down dip and along strike continuations of the ore zones.
Due to the early onset of the wet season in Mozambique, the Company was obliged to suspend drilling operations in mid-December 2010. Drilling recommenced on 9 February with two RC rigs currently on site and a third mobilising this week.
The first nine RC holes were drilled in Block 3 and tested the along strike continuations of mineralisation intersected in scout diamond drill hole TDH0019 over five cross sections. Analytical results from these drill holes were announced to the market on 20 October and 8 November 2010. Due to mechanical issues, drill holes TRC0006 to 9 did not reach their target depths (TRC0007 and 8 ended in mineralisation). These four drill holes will be re-drilled, at the operator's expense, in due course and updated intercepts will be reported as soon as they become available.
Please note that drill holes have not been drilled in sequence, consequently there are gaps in the hole numbering.
Drilling in Block 7, the northern most target area, over three east-west cross sections and an oblique cross section has intersected a stacked, 200m wide sequence of moderately to steeply dipping, heavily mineralised packages over a strike length of more than 300m. Mineralisation remains open both down dip and along strike with potential parallel lodes to the east. Please refer to announcements dated 30 November 2010, 17 and 26 January 2011.
Drilling over two cross sections in the southern limit of the South Zone prospect (Block 1) has a delineated broad, c.140m wide, zone of vertically dipping magnetite mineralisation. The lode is oriented north-south and is cross cut by northeast striking dolerite dykes. Results from the southernmost section are presented below. Further results from this area are expected to become available within the next two weeks. Current drilling in Block 1 continues to delineate substantial magnetite-ilmenite mineralisation to the north.
required field - 22 Feb 2011 09:19 - 79 of 477
Shame this is on a red day, because the upper twenties would have been on the cards !.
blanche - 22 Feb 2011 09:36 - 80 of 477
nice slow rise through the day is what we want. Will be 30p soon enough. Patience.! lots more news to come
blanche - 23 Feb 2011 08:54 - 81 of 477
On the move again this morning. This could do a BEM! 8-) Some peeps must be regreting selling. whoops
cynic
- 23 Feb 2011 08:59
- 82 of 477
slightly, but bought some back yesterday
blanche - 23 Feb 2011 09:03 - 83 of 477
Good move cynic, Still double from here in a very short space of time. With the news flow to come here over next few months.
blanche - 28 Feb 2011 10:28 - 84 of 477
30p getting ever closer.
cynic
- 28 Feb 2011 10:37
- 85 of 477
i know Number2 Son reckons this is a cracker, and though i have no idea from where he gets his feedback (not here), he has been correct so far ...... i am older, and therefore much more nervous (cynical!) of this type of stock, so i tend to trade it ..... less profits for sure when all is rosy, but not so scary if all suddenly goes wrong
blanche - 28 Feb 2011 10:46 - 86 of 477
you haven`t sold again have you cynic?
cynic
- 28 Feb 2011 11:03
- 87 of 477
no, i still hold
blanche - 28 Feb 2011 11:28 - 88 of 477
Imho I think 30p short term no problem with news. then once we break that, 50p on the cards. So much potential here. Poss 1bt resource futher down the line, could see 1.00.. Worth holding for sure. 8-)
Balerboy
- 01 Mar 2011 08:00
- 89 of 477
ready for take off!!!!!
cynic
- 01 Mar 2011 08:01
- 90 of 477
another good call by Number2 Son!
Mr Ben James, Baobab's Managing Director, said: "Once again South Zone is delivering beyond our expectations. Drilling has delineated broad, coherent packages of mineralisation that respond well under our routine Davis Tube Recovery (DTR) analysis to generate a c.60% Fe concentrate at good rates of mass recovery.
"The 2011 drilling programme is gaining momentum and we expect to start seeing the next round of analytical results coming through shortly. The airborne geophysical contractors have commenced a high resolution survey of the Tenge/Ruoni area that should be wrapped up early next week. The Monte Muande Exploration Target is also on track for an announcement in the coming two to three weeks."
Mr Ben James, Baobab's Managing Director, said: "Once again South Zone is delivering beyond our expectations. Drilling has delineated broad, coherent packages of mineralisation that respond well under our routine Davis Tube Recovery (DTR) analysis to generate a c.60% Fe concentrate at good rates of mass recovery.
"The 2011 drilling programme is gaining momentum and we expect to start seeing the next round of analytical results coming through shortly. The airborne geophysical contractors have commenced a high resolution survey of the Tenge/Ruoni area that should be wrapped up early next week. The Monte Muande Exploration Target is also on track for an announcement in the coming two to three weeks."
required field - 01 Mar 2011 08:02 - 91 of 477
Great start to march....BAO on the march....
blanche - 01 Mar 2011 08:04 - 92 of 477
Gr8t set of drill results. I think my 30p may go today. Whoopee! 8-) And loads more to come.
cynic
- 01 Mar 2011 08:09
- 93 of 477
bought a few more at 28 - arguably a bit brave
Balerboy
- 01 Mar 2011 08:28
- 94 of 477
market not that excited.......what the heck have they got to do!!
blanche - 01 Mar 2011 08:55 - 95 of 477
Balerboy, We get rid of the sell on news brigade, then build through the day. imvho
cynic
- 01 Mar 2011 08:58
- 96 of 477
Number2 not selling - he's very happy having been in since 10.5
blanche - 01 Mar 2011 09:01 - 97 of 477
Invested 10 grand myself at just over 10p. Not selling any til at least 50p. Then i will probally reassess then.
blanche - 01 Mar 2011 17:01 - 98 of 477
Didn`t see 30p today, But its coming. Especially with all the news to come. 8-)
skyhigh - 01 Mar 2011 19:34 - 99 of 477
Yep, it all looks good! same old story with me.. wished I'd bought more when I got in @10.5p..still can't greedy...1 SP will do me!
cynic
- 01 Mar 2011 19:57
- 100 of 477
what is it with you chumps that you can never envisage that a share can equally fall, especially such amoeba stocks as this (and EOG etc)? ..... when it's rising, you all chortle like crazy, and then wring your hands about all the profit that has gone down the drain when things change
blanche - 02 Mar 2011 08:35 - 101 of 477
Cynic, We know shares don`t go up in straight lines, and there will be some fall backs at some stage. But this is defo in a up trend. Look at bem fell from 34 to 22ish before rising to 60 odd pence. And this company has potentially more resource than bem. When i invested here last year I knew it was a long term play which always come with rises and falls, But you can`t knock people for getting a little excited when they do rise. Imvho 2011 is going to be the making of this company, and as skyhigh says about 1.00 sp. This is defo a possibility. Hold on and enjoy the ride.gl 8-)
cynic
- 02 Mar 2011 08:49
- 102 of 477
being madly in lust is no good reason to get married .... ditto with shares
blanche - 02 Mar 2011 11:22 - 103 of 477
Smile Cynic your in profit on your 28p purchase. 8-)
cynic
- 02 Mar 2011 11:54
- 104 of 477
no kidding, and from before that too ..... however, in these very dangerous markets don't insist on staying married! ..... have told Number2 the same, though he may not listen
blanche - 02 Mar 2011 14:20 - 105 of 477
Theres 30p!!!!!!!!!! Where she stops nobody knows.
blanche - 02 Mar 2011 14:26 - 106 of 477
Borrowed from Roughandtumble from another bb.... Fantastic Work
Guys and Girlies,
It is so obvious that we have a buyer and a buyer who is happy to take any sells. They have limited stock and I'm convinced we're about to see an offer stating 30p very shortly.
I was mapping out last night the timeline vs announcements for the coming year and it really is quite amazing.
1)SZ section drill results
2)Aeromagnetic High Density flyover - accompanied with an assessment of findings
3)Monte Muande Exploration update, adding to the current 400-700Mt target
4)RC drilling continues on the SZ with resultant findings
5)Extended RC drilling on the SZ, resultant findings and culimating in a further JORC update
6)RC drilling on Chimbala, resultant findings and culminating in a further JORC figure
7)RC drilling on Chitongue Grande, resultant findings and culimating in a further JORC update
8)Results from Monte Muande and Tenga/Ruoni Coal survey and you only have to look at Ncondezi Coal and Beacon Hill to see what a coal deposit could be worth
9)DD drilling of Singore and looking at previously announced samples of MR 40%, another jewel in the making.
10)DD drilling of Tenga/Ruoni with our very own Iron Hill and again look at the announcements for previous resultant samples!
11)Resource updates for both Tenga/Ruoni and Singore
12)32,000M of drill results
13)Drilling for copper on Monte Muande]
14)Drilling for copper on Mundongara, unless a JV is announced
15)JV on Changara kicks into results, samples and studies.
Hardly a year of silence, with no news flow and all the above announcements having the potential of adding real value to Baobab and it's shareholders portfolios!
DYOR,IMO and ATJ but lets be honest...who cares if there's dips and peaks...the direction is up!
R&T
Guys and Girlies,
It is so obvious that we have a buyer and a buyer who is happy to take any sells. They have limited stock and I'm convinced we're about to see an offer stating 30p very shortly.
I was mapping out last night the timeline vs announcements for the coming year and it really is quite amazing.
1)SZ section drill results
2)Aeromagnetic High Density flyover - accompanied with an assessment of findings
3)Monte Muande Exploration update, adding to the current 400-700Mt target
4)RC drilling continues on the SZ with resultant findings
5)Extended RC drilling on the SZ, resultant findings and culimating in a further JORC update
6)RC drilling on Chimbala, resultant findings and culminating in a further JORC figure
7)RC drilling on Chitongue Grande, resultant findings and culimating in a further JORC update
8)Results from Monte Muande and Tenga/Ruoni Coal survey and you only have to look at Ncondezi Coal and Beacon Hill to see what a coal deposit could be worth
9)DD drilling of Singore and looking at previously announced samples of MR 40%, another jewel in the making.
10)DD drilling of Tenga/Ruoni with our very own Iron Hill and again look at the announcements for previous resultant samples!
11)Resource updates for both Tenga/Ruoni and Singore
12)32,000M of drill results
13)Drilling for copper on Monte Muande]
14)Drilling for copper on Mundongara, unless a JV is announced
15)JV on Changara kicks into results, samples and studies.
Hardly a year of silence, with no news flow and all the above announcements having the potential of adding real value to Baobab and it's shareholders portfolios!
DYOR,IMO and ATJ but lets be honest...who cares if there's dips and peaks...the direction is up!
R&T
Balerboy
- 02 Mar 2011 16:20
- 107 of 477
30p breached,....can it hold on and stay the right side of it???
blanche - 02 Mar 2011 16:32 - 108 of 477
30.62 finish. Happy Days!! 8-)
Balerboy
- 02 Mar 2011 20:19
- 109 of 477
INDEEEDY!!
skyhigh - 02 Mar 2011 22:18 - 110 of 477
Luverly jubbly....Nice one blanch! thanks for that...onwards and upwards!
Balerboy
- 03 Mar 2011 08:29
- 111 of 477
up this morning 4% to 31.88p in the money.,.
blanche - 03 Mar 2011 08:37 - 112 of 477
Probally get a lot of late reported buys again later today. As yesterday. Think we have a buyer in the back ground mopping up these sells. imvho
Balerboy
- 03 Mar 2011 08:51
- 113 of 477
cooling off a bit now but at least it's blue.
blanche - 03 Mar 2011 10:10 - 114 of 477
up 8% at mo. Nice steady flow of buys. Another good day on the cards. Look out bem, Bao s coming to to get ya.
blanche - 03 Mar 2011 16:45 - 115 of 477
Another 11.5 % rise on the day with good volume and a strong finish. Happy Days again.
Have ya sold yet cynic?
Have ya sold yet cynic?
cynic
- 03 Mar 2011 16:47
- 116 of 477
no, but i shall be having strong words with Number2 to bank at least partial profits ...... whether or not he takes sense on board remains to be seen
chartist2004
- 06 Mar 2011 18:29
- 117 of 477
Cynic - Lets hope BAO follow in BEM's footsteps which has risen 2,400% in past year! When it does I'll be up 960,000!!!
blanche - 07 Mar 2011 09:18 - 118 of 477
Looks the start of another good week here!! So much news to come. 8-)
blanche - 07 Mar 2011 14:32 - 119 of 477
40p not far away!!!!!!!!!
blanche - 07 Mar 2011 17:15 - 120 of 477
Looks like 40p tomorrow then!!!....... Still holding cynic?
cynic
- 07 Mar 2011 17:27
- 121 of 477
i am i am ..... was tempted to buy more this morning, but didn't care for the 1p spread
blanche - 08 Mar 2011 13:27 - 122 of 477
Nice rns all looks like it going to plan, mind you iam no expert. usual few sellers on news.
Balerboy
- 09 Mar 2011 08:53
- 123 of 477
Going on up nicely this morning...
blanche - 09 Mar 2011 09:23 - 124 of 477
Balerboy, 40p options shows company positive re sp going north.
cynic
- 11 Mar 2011 11:29
- 125 of 477
sold a lump yersterday and balance first thing this morning and am very glad i did, banking a very decent profit albeit considerably less than it was showing a few days back
Balerboy
- 11 Mar 2011 13:49
- 126 of 477
cynic, tell me why you've sold, little drop today but according to trades board, 2.5mil buys 1 mil sells......why the panic?
cynic
- 11 Mar 2011 13:52
- 127 of 477
because the markets worry me a lot and if it continues downwards, then minnows are likely to be the hardest hit
blanche - 11 Mar 2011 15:07 - 128 of 477
Cynic, Hopefully you brought back in under 30p and are now 10% up on your new reinvestment. 8-)
cynic
- 11 Mar 2011 15:26
- 129 of 477
i would be lying if i said i bought at 28/29 this morning lol!!
no, i'm out of these at least for now, but watching
no, i'm out of these at least for now, but watching
blanche - 11 Mar 2011 15:28 - 130 of 477
Hind sight a wonderful thing hey!
cynic
- 11 Mar 2011 15:32
- 131 of 477
according to the recently banished one, i lied through my foreskin, though those who know me here, know that had no chance of being fact
Balerboy
- 11 Mar 2011 15:50
- 132 of 477
LOL..........going to play the long game at mo and see.,.
Balerboy
- 15 Mar 2011 16:32
- 133 of 477
I lied....chickened out and took profit this morning but see it recovered this pm. So looks pretty solid, will buy back soon.,.
cynic
- 15 Mar 2011 16:34
- 134 of 477
i sold loads of stuff this morning but bought back quite a bit as the day wore on - generally for less than sold by good luck ...... tempted again by BAO, but did not take the plunge - yet
blanche - 15 Mar 2011 16:59 - 135 of 477
Hell of a story brewing here med to long term!! 8-)
cynic
- 15 Mar 2011 17:04
- 136 of 477
for sure Number2 Son is deep in lust with this one
Balerboy
- 15 Mar 2011 17:05
- 137 of 477
0nly sold 50% so will be back blanche. Like rf bought a few rkh, hoil and EO. and NPE sold amer and for time being blvn.
blanche - 15 Mar 2011 17:46 - 138 of 477
Not been about today so missed all the fun. Thank god. lol This will fly again on the next bit of news me thinks. sooooooooooon
mikeyc - 18 Mar 2011 16:08 - 139 of 477
Hi all, just bought into BAO over the past 2 months and hold around 50,000 shares. What price do people think a resource update showing the estimated 400m to 700m tonnes would do to the price...60p / 70p or more???
cynic
- 18 Mar 2011 16:11
- 140 of 477
on the back of strong markets (long may they hold) am now back in again even if at rather too much (34)
blanche - 21 Mar 2011 08:07 - 141 of 477
Grrrreat news, what a bonus. 40p coming soooooooon! 8-)
blanche - 26 Mar 2011 12:16 - 142 of 477
Baobab has released its independent consultant Coffeys assessment of the Exploration Target at its Monte Muande magnetite/phosphorus joint venture project, which is 203-250Mt at a grade of up to 15% (cf our estimate of c 220Mt [55%] at a grade of c 20% Fe). However, Coffeys assessment only considered mineralisation to a depth of 40m (the limit of previous drilling) and it notes that it is reasonable to assume that deeper drilling will encounter further mineralisation. It also indicates an upper 7% grade limit for phosphate rock (where 1% phosphate is approximately the equivalent to 1% Fe in value), suggesting that a combined magnetite/phosphate operation may be viable. Finally, it highlights the existence of 3-5Mt of eluvial material (grade 45-55% Fe), which could potentially be upgraded to a direct shipping ore (DSO) product to provide early positive cash flows in any subsequent development.
Baobab does not intend to develop its mine alone and is looking for a partner before completing a BFS. At 25.75p, it has an EV equivalent to c US$5.12/t JORC iron. Pro-rata, the higher resource valued at the industry average valuation implies a share price in excess of 1"
Baobab does not intend to develop its mine alone and is looking for a partner before completing a BFS. At 25.75p, it has an EV equivalent to c US$5.12/t JORC iron. Pro-rata, the higher resource valued at the industry average valuation implies a share price in excess of 1"
blanche - 26 Mar 2011 12:16 - 143 of 477
50p coming sooooooooooooon!! 8-)
blanche - 29 Mar 2011 09:34 - 144 of 477
Spectacular!!!!!!!!!!!! As Ben james says. Cynic hope you didn`t sell out on the last little dip. 8-) 50p coming!!
cynic
- 29 Mar 2011 10:55
- 145 of 477
no i didn't ..... i tried to buy some more the other day, but could not get at the price i wanted, but have enough
blanche - 29 Mar 2011 11:33 - 146 of 477
Couple of pence here and there isn`t gonna make much of a difference when its a pound +. Just waiting for another 5 grands worth of funds to free up this week, then another top up for me 8-)
chartist2004
- 30 Mar 2011 00:05
- 147 of 477
What a fantastic stock, I'm up 41% this month alone, tiz in my Sipp.
50p next call?!!
50p next call?!!
required field - 30 Mar 2011 09:49 - 148 of 477
Keeps on rising......looks like a mine, with early cash flow perhaps, and that always sends shares up....might jump not by one penny but in 5 to 10p a go if the steady rise continues...and it looks as if it will....
cynic
- 30 Mar 2011 10:31
- 149 of 477
there's a danger that we (the lemmings) get totally carried away by the hype
blanche - 30 Mar 2011 11:26 - 150 of 477
Cynic, Once we get more jorc news, which isn`t to far away. It will all be fact not hype...... I personally think we could be looking at 1.00+ here at some stage. aimvho..dyor
cynic
- 30 Mar 2011 11:48
- 151 of 477
yes, except that bao cannot afford to develop it, so they'll have to sell at least part of the biz in one guise or another ..... it must also be several years before production comes on stream
halifax - 30 Mar 2011 14:17 - 152 of 477
cynic do you mean this is a pie and gravy tomorrow share?
cynic
- 30 Mar 2011 14:40
- 153 of 477
i really don't know ..... thanks to Number2 Son, i was in ..... i subsequently sold out (he didn't; silly boy not to bank any profits, as i told him) and later bought back
i am currently undecided what should be my next move - it won't be to buy more at this juncture
i am currently undecided what should be my next move - it won't be to buy more at this juncture
Sausage Dog - 30 Mar 2011 16:52 - 154 of 477
At approx 40p / share per 100mt FE in the ground (based on industry averages), the following is quite possible, based on drill results and RNS's to date. Based on the programme of works this year:
May, June, July - Massamba group Trend Jorc expected - 300mt
August - Tenge/ Ruoni, after yesterdays news - 300mt
October - Singore - 100mt
Thats an estimated Jorc'd resource of 700mt by October, or 2.80 / share before dilution.
That doesn't include the resource at Monte Muande or the other resources such as copper (drilling to be commenced in July), gold, coal phosphates etc.
May, June, July - Massamba group Trend Jorc expected - 300mt
August - Tenge/ Ruoni, after yesterdays news - 300mt
October - Singore - 100mt
Thats an estimated Jorc'd resource of 700mt by October, or 2.80 / share before dilution.
That doesn't include the resource at Monte Muande or the other resources such as copper (drilling to be commenced in July), gold, coal phosphates etc.
cynic
- 30 Mar 2011 17:07
- 155 of 477
excuse me for asking, but aren't goodies in the ground pretty much worthless until you get the damn stuff out?
halifax - 30 Mar 2011 18:54 - 156 of 477
cynic does that apply to the likes of RKH as well?
Sausage Dog - 30 Mar 2011 19:14 - 157 of 477
Cynic,
If they are worthless we are currently overvalued by 43p.
All other exploration co's are worth nowt also.
Stop being silly!
The valuation I gave above is based on the industry average for resource in the ground.
If they are worthless we are currently overvalued by 43p.
All other exploration co's are worth nowt also.
Stop being silly!
The valuation I gave above is based on the industry average for resource in the ground.
cynic
- 31 Mar 2011 10:44
- 158 of 477
yes hali, that is what logic would dictate, but a "hope" element has a perceived value and yes, i do still hold RKH though not without misgivings
with regard to BAO, its rise has been exponential and it is also an MM only stock, albeit that there are perhaps a dozen of them ...... common sense tells me that (significant?) profit taking is far from unlikely, not least because we are now within a day or two of fiscal y/e ...... with that in mind, i have just banked a(nother) good profit, but retained a full (100%) holding at cost
PS - do you remember SOLG, a similar rocket of just a few months back?
with regard to BAO, its rise has been exponential and it is also an MM only stock, albeit that there are perhaps a dozen of them ...... common sense tells me that (significant?) profit taking is far from unlikely, not least because we are now within a day or two of fiscal y/e ...... with that in mind, i have just banked a(nother) good profit, but retained a full (100%) holding at cost
PS - do you remember SOLG, a similar rocket of just a few months back?
cynic
- 31 Mar 2011 13:05
- 159 of 477
timed that one wrong! ..... ah well, better profit banked than lost and still plenty in the portfolio
blanche - 31 Mar 2011 17:52 - 160 of 477
Cynic i know you took a profit which iam not knocking but O U C H ! ! ! I always think some shares are for trading and some are long term holds. And this is a long term hold imvho. I bet no2 son has a big smile on his face. gltu
cynic
- 31 Mar 2011 18:33
- 161 of 477
he does he does and hope it stays that way for him ..... i don't really regret cashing in a some chips as was quite overweight .... as it is, i still have 100% stake at cost and that is showing a decent profit, so why should i complain? ...... just think, you could have been buying EOG!
required field - 01 Apr 2011 09:23 - 162 of 477
Just had to take some profits here this morning.....might be a mistake....still hold some.....
cynic
- 01 Apr 2011 09:36
- 163 of 477
i have so often said, it CANNOT be a mistake to bank prudent profits..... as i said above, you could have been holding EOG
required field - 01 Apr 2011 10:46 - 164 of 477
I was but sold out around if I remember correctly 36 to 38p.....at the moment it looks like I sold some BAO too soon....but then again if it dropped back to the midforties I would have cursed.....by the way, EK is shorting this and must be at a bad loss so far...
cynic
- 01 Apr 2011 14:51
- 165 of 477
i have sold a further lump at 53.75, as it is looking very frothy to me
required field - 01 Apr 2011 15:31 - 166 of 477
I fear a spike as well, before pulling back.....
blanche - 01 Apr 2011 16:09 - 167 of 477
the only way is up imvho. So much news to come here this year. Bit like are afren `transformational`
blanche - 01 Apr 2011 16:13 - 168 of 477
Bought some kefi today 8-)
blanche - 04 Apr 2011 08:50 - 169 of 477
Looks like were gonna see 60p next couple of days or sooner 8-)
required field - 04 Apr 2011 09:07 - 170 of 477
There has to be a top.....I have sold out......I just think that a sharp pullback has to come and can't monitor it all the time.....5 bagger this one....will come back later...
cynic
- 04 Apr 2011 16:34
- 171 of 477
boiled over at last! ....... further clinking, clanking sounds tomorrow would be my guess
colombo - 04 Apr 2011 16:41 - 172 of 477
looks like you were spot on RF.
blanche - 04 Apr 2011 17:44 - 173 of 477
end of year profit takers, Normal service will resume wednesday. imvho
cynic
- 04 Apr 2011 19:14
- 174 of 477
perhaps, and i believe there's a lot of new to come over the next several months ..... however, it's particularly difficult to determine fair value for a stock like this, and the swings on momentum can go dramatically in either direction
Balerboy
- 04 Apr 2011 21:11
- 175 of 477
glad i sold 50% of the 50% i had left.,.
Balerboy
- 05 Apr 2011 14:06
- 176 of 477
What a clever boy I am.....bought all my sells back at 46p this morning and a grand up as i speak.,.
cynic
- 05 Apr 2011 14:07
- 177 of 477
of course you did; you and TopAnalyst :-))
Balerboy
- 05 Apr 2011 14:10
- 178 of 477
would i tell a whopper like that.....lol part of rkh sale.....i'm good!! didn't you?
cynic
- 05 Apr 2011 14:16
- 179 of 477
nope ..... still hold enough = full quota at today's price, which is showing a healthy profit
blanche - 05 Apr 2011 17:52 - 180 of 477
Normal service today...'nice'.... Silly rumours quashed by quick thinking bod. 8-) 60p coming
cynic
- 11 Apr 2011 16:23
- 181 of 477
another very sickly child with sp tumbling back to 44 ..... bet blanche topped up and thus screwed the market!
blanche - 11 Apr 2011 16:52 - 182 of 477
Correct i did top up today, another 5 grands worth at 46p. Happy Days
blanche - 11 Apr 2011 16:56 - 183 of 477
Considering the rise there had to be a pull back at some stage. Over a pound by the autumn. dyor
cynic
- 11 Apr 2011 17:27
- 184 of 477
i'm happy enough sitting on my remaining tranche, and don't anticipate buying any more for the time being
Balerboy
- 18 Apr 2011 15:23
- 185 of 477
looks like i got this one all wrong......clever me.,.
blanche - 18 Apr 2011 17:13 - 186 of 477
Bb... Patience! Once this manipulation is finished and we get more news, Which is soooon. And lots of it over the coming months, It will fly way past previous highs imvho....
blanche - 20 Apr 2011 11:42 - 187 of 477
looks like my top up is gonna be in profit soon.8-)
Harry6
- 20 Apr 2011 12:26
- 188 of 477
Me too, first bought at 35, sold half at 55 and bought back at 45 thinking what could go wrong! Should have had the guts to buy more at 38 I suppose, but there you go.
Balerboy
- 20 Apr 2011 23:02
- 189 of 477
My Ave, is 30p so not complaining.,.
chartist2004
- 13 May 2011 15:51
- 190 of 477
Nice rise today for BAO, is this a real 'steel' RIO or BLT are interested?????
blanche - 13 May 2011 17:12 - 191 of 477
Yes, after a brief retreat, Re fuelled and ready for the next lot of news. Anyday now!!
chartist2004
- 15 May 2011 10:45
- 192 of 477
Blanche - I topped up also in April @ 54p!!! just another two jumps of 7p to go now to b/e!! up 20% on 'no news' Fri. Next 2/3 months should be interesting me thinks!!
Master RSI - 15 May 2011 23:47 - 193 of 477
re - topped up
I did my buy last Friday at just below 36p after notting the volume was much higher than recently and share price changing direction.
Take notice of all Indicators moving higher from oversold
;RSI(14);SlowSTO(8,3,3);VOLMA(60);&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
I did my buy last Friday at just below 36p after notting the volume was much higher than recently and share price changing direction.
Take notice of all Indicators moving higher from oversold
Balerboy
- 16 May 2011 07:51
- 194 of 477
Good morniing MRSI.,.
required field - 16 May 2011 07:57 - 195 of 477
Crumbs...I think freddie kruger is back...
cynic
- 16 May 2011 08:07
- 196 of 477
if he does not succumb to his former psychoses, i have no problem .... and that includes accepting the differing views of others
rococo - 31 May 2011 22:01 - 197 of 477
>>>>> Take notice of all Indicators moving higher from oversold
A very good rise indeed and some taking advantage of the oversold position of the last couple days, yes the Indicators were again well down
A very good rise indeed and some taking advantage of the oversold position of the last couple days, yes the Indicators were again well down
blanche - 09 Jun 2011 08:52 - 198 of 477
June 08, 2011 Pinched from another bb. Many Thanks
Baobab Resources Has A Whole Lot Of Drill Rigs And Some Very Big Plans
By Alastair Ford
Its all systems go at Baobab Resources as the team on the ground in Mozambique get ready to crank up drill programmes on the Tete iron ore project, at Monte Muande, and at the Mundonguara copper-gold project, all of which lie in the centre of the country in one of the most prolific coal development regions in the world. It is, says Baobab managing director Ben James, going to be a Dallas on the Zambezi River a premier industrial hub in southern Africa. So, for those who know their bulks, theres the first tick in the box right there infrastructure will not be short supply.
And its all systems go on the corporate side of things too, as managing director Ben James cranks up the air miles between London, where his core investor base is; Mozambique, where his company-making assets are; and Australia, where he has a growing following and where he also happens to live. Hes not long since done the rounds of investors with company chairman Jeremy Dowler at his side, and the trajectory taken by Baobabs shares over the past year is testimony to the amount of respect Ben and the Baobab story are now able to command in the market.
To be fair, there has been a correction in the past couple of months, as the shares have dropped down from an April peak of 54p to their current 34.75p. But given that the shares were at just 8p less than a year ago it wasnt altogether surprising that the re-rating that got underway at the end of last year ran ahead of itself and that markets finally paused for breath. The good news that caused that head of steam to build was many layered. First there was the signing of a good-looking joint venture with North River Resources over Monte Muande, to the south of Tete. Monte Muande looks prospective for several hundred million tonnes of iron ore as well as significant amounts of phosphate and other base metals. The market liked that news and licked its lips in anticipation of more. Then there was a successful Mines & Money conference in London, at which Baobab garnered a great deal of interest. And then, as 2011 got underway, came several encouraging updates from Tete itself. Come April the shares had sailed past 50p, up more than fivefold in a matter of months.
And canny directors know that when a funding window opens its as well to take advantage. So Baobabs last raise, for slightly less than 5 million was done at a handsome 40p, which sets it up nicely for a drive towards 300 million tonnes of JORC iron ore resources at Tete - a goal which should be achieved by the end of the year - and for stacks of progress on Monte Muande and on Mundonguara.
The company certainly has the rigs to get there. Supported by around A$9 million in the bank, and a further 15 million equity draw-down facility 10 rigs will get to work across the Mozambican ground in short order. Six rigs are already working at Tete five reverse circulation drills and one diamond drill. Ones working Monte Muande, and three more are, says Ben, on the water and on the way. One of those will be deployed ant Mundonguara, while the other two will be held as spares and deployed as and when the geology across the portfolio looks most enticing and worthy of follow-up.
Were already going hammer and tongs, says Ben. The crews are double shifting and the rigs are working 24 hours a day. All of which means there should be a prolific amount of information coming into the market on a variety of Baobab project as the year progresses. And all other things being equal, it wouldnt be altogether surprising if the upward movement in the share price resumed on the back of it all.
For now, Tete remains the key. The project comprises several mineralised deposits in close proximity to each other, all just 50 kilometres away from a railway line. The medium-term plan would be to put a rail spur in, and ship ore out into the wider world. Long-term, though, theres talk of steering the Baobab operations directly into the newly emerging Dallas on the Zambezi. There is, says Ben, a real opportunity to set up a steel manufacturing hub outside of South Africa. He has little doubt it will be done, and hed like to see Baobab at the heart of such a development. After all, the company may be small, but it is well positioned. It has the IFC as a supportive shareholder, and it has the likes of Rio Tinto, Tata, Jindal, and Nippon as its neighbours. At some stage, the thinking is, Tete should end up as part of a steel company. The chances of the Baobab team, as exploration specialists, still being on board by then are probably remote, but if it gets to that stage then it seems likely that everyone will have cashed out at a handsome profit, and it should be no surprise if happy investors return to back the team when they come round for another bite.
But as far as the short-term goes, theres the reams of drilling to look forward to and the pre-feasibility study. Theres also the possibility that an alluvial component of Monte Muande may work as a direct shipping operation, which would mean early cash flow, probably by next year. Tests are underway, so watch this space.
Baobab Resources Has A Whole Lot Of Drill Rigs And Some Very Big Plans
By Alastair Ford
Its all systems go at Baobab Resources as the team on the ground in Mozambique get ready to crank up drill programmes on the Tete iron ore project, at Monte Muande, and at the Mundonguara copper-gold project, all of which lie in the centre of the country in one of the most prolific coal development regions in the world. It is, says Baobab managing director Ben James, going to be a Dallas on the Zambezi River a premier industrial hub in southern Africa. So, for those who know their bulks, theres the first tick in the box right there infrastructure will not be short supply.
And its all systems go on the corporate side of things too, as managing director Ben James cranks up the air miles between London, where his core investor base is; Mozambique, where his company-making assets are; and Australia, where he has a growing following and where he also happens to live. Hes not long since done the rounds of investors with company chairman Jeremy Dowler at his side, and the trajectory taken by Baobabs shares over the past year is testimony to the amount of respect Ben and the Baobab story are now able to command in the market.
To be fair, there has been a correction in the past couple of months, as the shares have dropped down from an April peak of 54p to their current 34.75p. But given that the shares were at just 8p less than a year ago it wasnt altogether surprising that the re-rating that got underway at the end of last year ran ahead of itself and that markets finally paused for breath. The good news that caused that head of steam to build was many layered. First there was the signing of a good-looking joint venture with North River Resources over Monte Muande, to the south of Tete. Monte Muande looks prospective for several hundred million tonnes of iron ore as well as significant amounts of phosphate and other base metals. The market liked that news and licked its lips in anticipation of more. Then there was a successful Mines & Money conference in London, at which Baobab garnered a great deal of interest. And then, as 2011 got underway, came several encouraging updates from Tete itself. Come April the shares had sailed past 50p, up more than fivefold in a matter of months.
And canny directors know that when a funding window opens its as well to take advantage. So Baobabs last raise, for slightly less than 5 million was done at a handsome 40p, which sets it up nicely for a drive towards 300 million tonnes of JORC iron ore resources at Tete - a goal which should be achieved by the end of the year - and for stacks of progress on Monte Muande and on Mundonguara.
The company certainly has the rigs to get there. Supported by around A$9 million in the bank, and a further 15 million equity draw-down facility 10 rigs will get to work across the Mozambican ground in short order. Six rigs are already working at Tete five reverse circulation drills and one diamond drill. Ones working Monte Muande, and three more are, says Ben, on the water and on the way. One of those will be deployed ant Mundonguara, while the other two will be held as spares and deployed as and when the geology across the portfolio looks most enticing and worthy of follow-up.
Were already going hammer and tongs, says Ben. The crews are double shifting and the rigs are working 24 hours a day. All of which means there should be a prolific amount of information coming into the market on a variety of Baobab project as the year progresses. And all other things being equal, it wouldnt be altogether surprising if the upward movement in the share price resumed on the back of it all.
For now, Tete remains the key. The project comprises several mineralised deposits in close proximity to each other, all just 50 kilometres away from a railway line. The medium-term plan would be to put a rail spur in, and ship ore out into the wider world. Long-term, though, theres talk of steering the Baobab operations directly into the newly emerging Dallas on the Zambezi. There is, says Ben, a real opportunity to set up a steel manufacturing hub outside of South Africa. He has little doubt it will be done, and hed like to see Baobab at the heart of such a development. After all, the company may be small, but it is well positioned. It has the IFC as a supportive shareholder, and it has the likes of Rio Tinto, Tata, Jindal, and Nippon as its neighbours. At some stage, the thinking is, Tete should end up as part of a steel company. The chances of the Baobab team, as exploration specialists, still being on board by then are probably remote, but if it gets to that stage then it seems likely that everyone will have cashed out at a handsome profit, and it should be no surprise if happy investors return to back the team when they come round for another bite.
But as far as the short-term goes, theres the reams of drilling to look forward to and the pre-feasibility study. Theres also the possibility that an alluvial component of Monte Muande may work as a direct shipping operation, which would mean early cash flow, probably by next year. Tests are underway, so watch this space.
blanche - 09 Jun 2011 14:00 - 199 of 477
News V E R Y soooooooooooon !
skyhigh - 09 Jun 2011 22:04 - 200 of 477
Cool! bring it on ! been in BAO since 10.5p
blanche - 27 Oct 2011 15:53 - 201 of 477
Baobab has drilled close to 40,000 metres so far this year and will probably finish up at around 50,000 metres by the end of 2011. To achieve these rates of productivity, the company has had up to eight rigs turning across the project.
Baobab Resources (LON:BAO) said its latest drilling results underline the quality and scale of its iron ore project in the Tete region of Mozambique.
The data from the Ruoni South deposit returned some significant drill intercepts, including one 136 metre section at 32 per cent iron ore, giving a Davis Tube Recovery grade of 64 per cent.
Also contained in this sample were 1 per cent vanadium oxide and 5 per cent titanium dioxide.
The Tete project splits into two distinct parts the Singore area and directly to the north of this, the Massamba Group.
Massamba can then be split into a number of target areas - Chitongue Grande, Chimbala, the Tenge-Ruoni prospect and finally the rather blandly named South Zone.
A JORC resource estimates for Ruoni and Chitongue Grande Extensions are nearing completion with Ruoni South expected by the end of November, the company said.
Chief executive Ben James said: "The latest round of Ruoni South Davis Tube Recovery results underlines the quality and potential scale of the deposit.
Baobab will be keeping investors up to date as additional results become available."
Ruoni South is part of the Massamba Group iron ore, vanadium and titanium project, which currently has a 160 million tonne resource.
The company said it is confident of lifting this figure to 300 million tonnes by the year-end significant milestone in terms of the projects economics.
Drilling is progressing steadily on the Tenge prospect, which is reported to have outlined substantial zones of strong mineralisation. First analytical results are expected during December, the company added.
Baobab has drilled close to 40,000 metres so far this year and will probably finish up at around 50,000 metres by the end of 2011. To achieve these rates of productivity, the company has had up to eight rigs turning across the project.
Separately, Baobab said the compilation of a scoping study on the project is at an advanced stage with preliminary results expected in the latter half of November.
The plan in the next three-and-a-half to four years is to create an operation that will initially export magnetite and an increasingly more profitable ilmenite (titanium) concentrate.
It will then move into the production of pig iron using well established rotary hearth furnace technology successfully employed in South Africa and New Zealand.
The capital costs of such a project are substantial, at anywhere between US$500-US$750 million, but off-set by the staggering revenue potential of pig iron, magnetite and ilmenite concentrate production.
When compared to some of the iron ore projects planned for West Africa that require a huge investment in infrastructure, Baobabs Tete project looks much more affordable.
Baobab has cash in the bank to see them through to year end and beyond, with plenty of funding options going forward including an untapped US$23 million (15 million) equity drawdown facility.
Investors have been treated to a roller coaster ride this year as the stock topped 50 pence in the spring. It is trading at 20 pence today, valuing Baobab at just 38 million.
But you get a lot of bang for your buck at that price, with one analysts suggesting the stock is worth as much as 1. We are the dress circle of Mozambique, James said in a recent interview with Proactive Investors.
We have two of the worlds largest mining companies in Vale and Rio immediately south of us, and we have some of the worlds largest steel producers.
In the next 10 years Tete is going to be an industrial and mining hub of global significance, producing up to 20 per cent of the worlds coking coal.
It is not going to be a sleepy little backwater on the Zambezi. Baobab is positioning itself to become a cornerstone player in Mozambiques integrated iron and steel sector.
Baobab Resources (LON:BAO) said its latest drilling results underline the quality and scale of its iron ore project in the Tete region of Mozambique.
The data from the Ruoni South deposit returned some significant drill intercepts, including one 136 metre section at 32 per cent iron ore, giving a Davis Tube Recovery grade of 64 per cent.
Also contained in this sample were 1 per cent vanadium oxide and 5 per cent titanium dioxide.
The Tete project splits into two distinct parts the Singore area and directly to the north of this, the Massamba Group.
Massamba can then be split into a number of target areas - Chitongue Grande, Chimbala, the Tenge-Ruoni prospect and finally the rather blandly named South Zone.
A JORC resource estimates for Ruoni and Chitongue Grande Extensions are nearing completion with Ruoni South expected by the end of November, the company said.
Chief executive Ben James said: "The latest round of Ruoni South Davis Tube Recovery results underlines the quality and potential scale of the deposit.
Baobab will be keeping investors up to date as additional results become available."
Ruoni South is part of the Massamba Group iron ore, vanadium and titanium project, which currently has a 160 million tonne resource.
The company said it is confident of lifting this figure to 300 million tonnes by the year-end significant milestone in terms of the projects economics.
Drilling is progressing steadily on the Tenge prospect, which is reported to have outlined substantial zones of strong mineralisation. First analytical results are expected during December, the company added.
Baobab has drilled close to 40,000 metres so far this year and will probably finish up at around 50,000 metres by the end of 2011. To achieve these rates of productivity, the company has had up to eight rigs turning across the project.
Separately, Baobab said the compilation of a scoping study on the project is at an advanced stage with preliminary results expected in the latter half of November.
The plan in the next three-and-a-half to four years is to create an operation that will initially export magnetite and an increasingly more profitable ilmenite (titanium) concentrate.
It will then move into the production of pig iron using well established rotary hearth furnace technology successfully employed in South Africa and New Zealand.
The capital costs of such a project are substantial, at anywhere between US$500-US$750 million, but off-set by the staggering revenue potential of pig iron, magnetite and ilmenite concentrate production.
When compared to some of the iron ore projects planned for West Africa that require a huge investment in infrastructure, Baobabs Tete project looks much more affordable.
Baobab has cash in the bank to see them through to year end and beyond, with plenty of funding options going forward including an untapped US$23 million (15 million) equity drawdown facility.
Investors have been treated to a roller coaster ride this year as the stock topped 50 pence in the spring. It is trading at 20 pence today, valuing Baobab at just 38 million.
But you get a lot of bang for your buck at that price, with one analysts suggesting the stock is worth as much as 1. We are the dress circle of Mozambique, James said in a recent interview with Proactive Investors.
We have two of the worlds largest mining companies in Vale and Rio immediately south of us, and we have some of the worlds largest steel producers.
In the next 10 years Tete is going to be an industrial and mining hub of global significance, producing up to 20 per cent of the worlds coking coal.
It is not going to be a sleepy little backwater on the Zambezi. Baobab is positioning itself to become a cornerstone player in Mozambiques integrated iron and steel sector.
machoman - 11 Nov 2011 09:36 - 202 of 477
KEEP an EYE
15.75 / 16p +1.125p
on the way up today with lots of buying and some paying premium, has had a large retracement after reaching 23p last time.
small spread and good Level 2 of 3 v 1
15.75 / 16p +1.125p
on the way up today with lots of buying and some paying premium, has had a large retracement after reaching 23p last time.
small spread and good Level 2 of 3 v 1
machoman - 11 Nov 2011 09:48 - 203 of 477
BAO has good grades of Vanadium
Vanadium miners ready, hoping for green tech boom - By: Reuters - 10th November 2011
TORONTO A little-known metal used in steelmaking could emerge as a game-changer for battery technology, raising the prospect of an investment boom like the one that lifted rare earths out of obscurity last year.
Electric cars fueled by vanadium could one day travel hundreds of miles on a six-minute charge, while renewable energy sources like wind and solar could use vanadium batteries to rival coal in terms of reliability. The technology could boost demand for the metal by more than 35% in the next two or three years, analysts say.
"The potential to make vanadium into a multi-billion dollar metal resides in the battery business, and in particular in the energy storage business," said Chris Berry, founder of House Mountain Partners, a research firm based in New York.
Vanadium's special attributes have been known for decades. In small quantities it can double the strength of steel, and Henry Ford used it to build his Model T, a car that revolutionized the auto industry.
The metal is also a critical additive for modern construction, and there is no substitute for it in making alloys used by the aerospace industry.
But its potential in energy storage really makes vanadium interesting. Vanadium flow batteries charge in a flash, their capacity expands and they last for decades.
The batteries have been around since the 1980s, but there are only a few examples of the technology in a commercial setting. The battery is bigger than in other mass storage systems, and also more expensive, at least for now.
That may change if the early scramble to secure a stable supply of vanadium gains traction, much like the recent dash to find new sources of rare earths, the 17 metals that go into products as diverse as Apple iPhones and Toyota's Prius cars.
"Vanadium has all that rare earth-type opportunity, yet it has a very stable base on the steel-strengthening side," said American Vanadium CE Bill Radvak. "It's just about to take off in the next year or two."
That bodes well for the small Canadian miner and the handful of other companies that specialize in mining the metal. American Vanadium, Largo Resources, Apella Resources and Energizer Resources are developing deposits around the world.
The stocks have retreated along with the broader market, but analysts say the group could catch a wave if investors latch on to the growth story that many see in the offing.
"You're seeing dollars flow into this technology, so there is some good promise in it going forward," said Jonathan Lee, an analyst with Byron Capital Markets. "In the long term, the demand will rise."
GOING GREEN
Renewable energy like solar and wind are becoming part of the power mix as nations look to reduce reliance on fossil fuels, but power generation depends on favorable weather.
Mass storage batteries such as the vanadium redox flow battery can help by capturing the energy as it is generated, storing it and releasing it as needed.
China is investing heavily in the technology. Prudent Energy recently raised $30-million to try to reduce the cost of its vanadium battery systems, while China Strategic Holding is spending nearly $300-million to build the world's largest vanadium battery, according to industry reports.
"Once you get energy storage into the whole smart grid technology, it can largely reduce the cost and lead to the faster implementation," said Liyu Li, a chemist with the US Department of Energy's Pacific Northwest National Laboratory.
"With just a little more work, the battery could potentially increase the use of wind, solar and other renewable power sources," said Li. "But we need to make sure the cost is acceptable compared with other technologies."
VOLATILE PRICES
At present, vanadium prices tend to surge when steel demand is high and plummet during economic downturns. The volatility is a major deterrent for battery producers.
This has American Vanadium, which owns the Gibellini deposit in Nevada, thinking outside the box.
The company wants to partner with battery makers rather than simply selling them raw vanadium, offering the battery maker a supply at a set price, and giving miner a percentage of the higher-value battery products.
"We're putting ourselves out there as the domestic, secure supply," said Radvak. "We really want to work with the battery companies to capitalize on that, it's a value-added product."
Analysts estimate demand for vanadium in mass storage and electric vehicle batteries will hit about 20 000 t a year by 2014. Steelmaking and aerospace demand is expected to grow from about 60 000 t to 70 000 t in the same period.
With current production dominated by China, Russia and South Africa, securing vanadium supply in the Americas has become a focus for end users.
Largo has signed an off-take deal with Glencore , where Glencore can buy all the vanadium it produces at its Maracas deposit in Brazil for six years.
"From a North American perspective, we are almost 100 percent dependent on imports of vanadium," said Berry. "If you can't access the raw material, then the supply chain doesn't exist."
DRIVING CHANGE
The dream for the future centers on using the supercharger metal to change the game for electric cars, much as the vanadium-using Model T changed the auto sector.
"People are worried about how fast can they charge batteries," said Lee. "One of the benefits of the vanadium phosphate battery is that it can charge and discharge more quickly than others."
German start-up DBM Energy has made a lithium vanadium car battery that it says can travel more than 600 kilometers on a single charge and recharge in just six minutes from a 240-volt source.
That means an electric car would charge in around the time it takes to fill up a conventional vehicle with gasoline.
By comparison, the current front-runner in electric vehicles is GM's Chevrolet Volt, which has a city driving range of 80 kilometers and takes about four hours to charge from a 240-volt source.
But the vanadium car battery technology has not been proven on a commercial level, and if rival batteries using cheaper metals can achieve similar results, vanadium batteries would no longer have any advantage, say analysts.
Still, car-makers like BYD and Subaru have plans to produce electric vehicles using vanadium batteries.
"It's still quite aways away, but there is growth potential there," said Lee. "As supply comes on line, you'll see a lot more companies look at using vanadium."
machoman - 14 Nov 2011 09:04 - 204 of 477
Another good move up today now 16.75 / 17.50p +0.625p
;RSI(14);SlowSTO(8,3,3);&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
machoman - 18 Nov 2011 09:49 - 205 of 477
spread 14 / 14.50p
Signs on the chart and Level 2 of wanting to go higher from here. Lots of buying on bigger size and earlier paying premium.
Marked down at the start with the market, level 2 of 2 v 1
If finishing higher than the opening price the candlestick ( hammer ) would be bullish for the chart
Signs on the chart and Level 2 of wanting to go higher from here. Lots of buying on bigger size and earlier paying premium.
Marked down at the start with the market, level 2 of 2 v 1
If finishing higher than the opening price the candlestick ( hammer ) would be bullish for the chart
blanche - 25 Nov 2011 08:23 - 206 of 477
Baobab makes the grade in Mozambique
By Mark Robinson, 24 November 2011
SHARE TIP
Baobab Resources PLC (uk:BAO)
SPECULATIVE
HIGH RISK
Bull points
Established infrastructure
Reliable power access
High ore grades
'First-mover' status
Bear points
Risk of political instability
High capital expenditure
Think of Southern Africa's producers of bulk commodities, and it's unlikely that Mozambique would readily spring to mind. But a small Aim-traded miner with big ambitions is seeking to change all that.
Baobab Resources has achieved 'first-mover' status in Mozambique through four prospects in the central-north of the country. Mozambique's mineral profile was previously woefully inadequate, partly because in large parts of the country almost no modern exploration techniques had been deployed, but also because the mining industry was held back by two decades of civil war. The potential for political instability still presents a risk factor, but almost five years after joining Aim, Baobab has made significant headway towards establishing a commercial resource base and opportunities abound.
The main focus for the company is its flagship Tete iron ore project, which shares licence boundaries with two coal operations owned by Vale , Rio Tinto , and India's Tata Group . The proximity of these projects to Baobab's Tete project is hugely advantageous because port and rail links are already in place and there are substantial new infrastructure plans in development, including an upgrade in rail capacity and plans for a barge network down the Zambezi River. The Zambezi provides Baobab with access to reliable, low-tariff hydro-electric power a factor that can't be taken for granted on the 'Dark Continent'. The potential importance of the Tete project to the local economy can be gauged by the fact that the World Bank, in the form of its commercial arm the International Finance Corporation has entered into a strategic partnership with Baobab and has a 15 per cent stake in the project.
BAOBAB RESOURCES (BAO)
ORD PRICE: 14.38p MARKET VALUE: 27m
TOUCH: 14.25-14.5p 12-MONTH HIGH: 56p LOW: 10p
DIVIDEND YIELD: nil PE RATIO: na
NET ASSET VALUE: 2.6p NET CASH: 5.7m
Year to 30 Jun Turnover (m) Pre-tax profit (m) Earnings per share (p) Dividend per share (p)
2008 nil -2.19 -3.80 nil
2009 nil -1.55 -1.86 nil
2010 nil -1.96 -1.38 nil
2011 nil -6.06 -3.61 nil
2012* nil -2.46 -1.10 nil
% change - - - -
Normal market size:25,000
Matched bargain trading
Beta:1.46
*Estimates by Edison Investment Research
Baobab's managing director, Ben James, reckons that the company is "rapidly approaching a watershed in the development of the Tete project", because a pending resource statement from the Ruoni South prospect within Tete should ensure that Baobab will meet or exceed its 300m tonne iron ore resource target. An additional resource statement based on current work at the adjacent Tenge prospect is scheduled for release early next year, and Baobab anticipates that this will push its resource inventory well beyond the base requirements needed to secure investment and accelerate Tete towards the commercial planning stage. Baobab's next most advanced project is the Monte Muande magnetite phosphate deposit, located 25km northwest of Tete, with a 200m-250m tonne exploration target.
But unlocking Mozambique's mineral wealth won't come cheap. Mr James estimates a $500m (318m) capital expenditure bill for Tete alone, so Baobab's share in the project is likely to be diluted over time. The most direct route towards commercialisation would be to simply sell the proved assets at Tete, or perhaps bring in a partner with sufficient financial clout to see it through to production. Given the strong port and rail links already in place, and a short easterly sea-route to India, a prime candidate might be Tata Group, the world's seventh-largest steelmaker. Baobab has 5.7m in cash to progress Tete towards commercialisation, in addition to a 15m unused drawdown equity facility, so the company has sufficient resources to enable it to make a measured decision on the Tete resource when the time comes.
SHARE TIP SUMMARY:
It's also conceivable that Baobab itself could be subject to a takeover bid but, even without factoring in merger and acquisition activity, the company's valuation as a standalone entity is attractive. A recent conservative valuation by investment research provider Edison values the shares at 23.6p, around 60 per cent more than the current price, using a sector average price of $1.02 per tonne for its existing inferred resource of 267m tonnes of iron ore at a 29.4 per cent grade (Ruoni North actually averages 34.6 per cent). In other words, using a worst-case scenario that doesn't factor any further growth in Baobab's resource base (a highly unlikely scenario), the shares are trading almost 40 per cent below fair value estimates. Buy.
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By Mark Robinson, 24 November 2011
SHARE TIP
Baobab Resources PLC (uk:BAO)
SPECULATIVE
HIGH RISK
Bull points
Established infrastructure
Reliable power access
High ore grades
'First-mover' status
Bear points
Risk of political instability
High capital expenditure
Think of Southern Africa's producers of bulk commodities, and it's unlikely that Mozambique would readily spring to mind. But a small Aim-traded miner with big ambitions is seeking to change all that.
Baobab Resources has achieved 'first-mover' status in Mozambique through four prospects in the central-north of the country. Mozambique's mineral profile was previously woefully inadequate, partly because in large parts of the country almost no modern exploration techniques had been deployed, but also because the mining industry was held back by two decades of civil war. The potential for political instability still presents a risk factor, but almost five years after joining Aim, Baobab has made significant headway towards establishing a commercial resource base and opportunities abound.
The main focus for the company is its flagship Tete iron ore project, which shares licence boundaries with two coal operations owned by Vale , Rio Tinto , and India's Tata Group . The proximity of these projects to Baobab's Tete project is hugely advantageous because port and rail links are already in place and there are substantial new infrastructure plans in development, including an upgrade in rail capacity and plans for a barge network down the Zambezi River. The Zambezi provides Baobab with access to reliable, low-tariff hydro-electric power a factor that can't be taken for granted on the 'Dark Continent'. The potential importance of the Tete project to the local economy can be gauged by the fact that the World Bank, in the form of its commercial arm the International Finance Corporation has entered into a strategic partnership with Baobab and has a 15 per cent stake in the project.
BAOBAB RESOURCES (BAO)
ORD PRICE: 14.38p MARKET VALUE: 27m
TOUCH: 14.25-14.5p 12-MONTH HIGH: 56p LOW: 10p
DIVIDEND YIELD: nil PE RATIO: na
NET ASSET VALUE: 2.6p NET CASH: 5.7m
Year to 30 Jun Turnover (m) Pre-tax profit (m) Earnings per share (p) Dividend per share (p)
2008 nil -2.19 -3.80 nil
2009 nil -1.55 -1.86 nil
2010 nil -1.96 -1.38 nil
2011 nil -6.06 -3.61 nil
2012* nil -2.46 -1.10 nil
% change - - - -
Normal market size:25,000
Matched bargain trading
Beta:1.46
*Estimates by Edison Investment Research
Baobab's managing director, Ben James, reckons that the company is "rapidly approaching a watershed in the development of the Tete project", because a pending resource statement from the Ruoni South prospect within Tete should ensure that Baobab will meet or exceed its 300m tonne iron ore resource target. An additional resource statement based on current work at the adjacent Tenge prospect is scheduled for release early next year, and Baobab anticipates that this will push its resource inventory well beyond the base requirements needed to secure investment and accelerate Tete towards the commercial planning stage. Baobab's next most advanced project is the Monte Muande magnetite phosphate deposit, located 25km northwest of Tete, with a 200m-250m tonne exploration target.
But unlocking Mozambique's mineral wealth won't come cheap. Mr James estimates a $500m (318m) capital expenditure bill for Tete alone, so Baobab's share in the project is likely to be diluted over time. The most direct route towards commercialisation would be to simply sell the proved assets at Tete, or perhaps bring in a partner with sufficient financial clout to see it through to production. Given the strong port and rail links already in place, and a short easterly sea-route to India, a prime candidate might be Tata Group, the world's seventh-largest steelmaker. Baobab has 5.7m in cash to progress Tete towards commercialisation, in addition to a 15m unused drawdown equity facility, so the company has sufficient resources to enable it to make a measured decision on the Tete resource when the time comes.
SHARE TIP SUMMARY:
It's also conceivable that Baobab itself could be subject to a takeover bid but, even without factoring in merger and acquisition activity, the company's valuation as a standalone entity is attractive. A recent conservative valuation by investment research provider Edison values the shares at 23.6p, around 60 per cent more than the current price, using a sector average price of $1.02 per tonne for its existing inferred resource of 267m tonnes of iron ore at a 29.4 per cent grade (Ruoni North actually averages 34.6 per cent). In other words, using a worst-case scenario that doesn't factor any further growth in Baobab's resource base (a highly unlikely scenario), the shares are trading almost 40 per cent below fair value estimates. Buy.
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machoman - 05 Mar 2012 13:10 - 207 of 477
Further good news today and share price rise 15 / 15.50p +1.125p
TENGE DELIVERS 159Mt, EXPANDING GLOBAL RESOURCE INVENTORY TO 482Mt -- 5 MARCH 2012
Tenge adds 159m tonnes to Baobab's Tete resource base
Baobab Resources increased the resource base at its Tete iron/vanadium/titanium project in Mozambique tenfold in 2011.
Baobab started 2011 with a resource base of 48m tonnes and this had now increased to 482m tonnes - far outstripping the company's original 300Mt target.
Baobab said the Tenge prospect had added an additional 159m tonnes 'inferred' resource at a head grade of 38.4% Fe and an average concentrate grade of 60.4% Fe, 0.8% V2O5 and 12.5% TiO2 at a mass recovery of 47.6%.
Coffey Mining has been commissioned to complete an exploration target assessment of the resource potential underlying the 'Flats' area of Tenge/Ruoni.
Baobab managing director Ben James said: "The Tenge resource statement is the culmination of the 2011 drilling programme.
"Baobab started 2011 with a resource base of 48m tonnes and has increased it tenfold to 480m tonnes, far outstripping the company's original 300m tonnes target.
"The project has made the transition from one of exploration to one of development and is strategically located in the emerging mining hub of the Tete province, Mozambique, one of Africa's fastest developing economies, with unique access to existing and expanding power and infrastructure as well as abundant coal reserves."
TENGE DELIVERS 159Mt, EXPANDING GLOBAL RESOURCE INVENTORY TO 482Mt -- 5 MARCH 2012
Tenge adds 159m tonnes to Baobab's Tete resource base
Baobab Resources increased the resource base at its Tete iron/vanadium/titanium project in Mozambique tenfold in 2011.
Baobab started 2011 with a resource base of 48m tonnes and this had now increased to 482m tonnes - far outstripping the company's original 300Mt target.
Baobab said the Tenge prospect had added an additional 159m tonnes 'inferred' resource at a head grade of 38.4% Fe and an average concentrate grade of 60.4% Fe, 0.8% V2O5 and 12.5% TiO2 at a mass recovery of 47.6%.
Coffey Mining has been commissioned to complete an exploration target assessment of the resource potential underlying the 'Flats' area of Tenge/Ruoni.
Baobab managing director Ben James said: "The Tenge resource statement is the culmination of the 2011 drilling programme.
"Baobab started 2011 with a resource base of 48m tonnes and has increased it tenfold to 480m tonnes, far outstripping the company's original 300m tonnes target.
"The project has made the transition from one of exploration to one of development and is strategically located in the emerging mining hub of the Tete province, Mozambique, one of Africa's fastest developing economies, with unique access to existing and expanding power and infrastructure as well as abundant coal reserves."
ahoj
- 05 Mar 2012 13:44
- 208 of 477
DO they have funding to use these or are going to issue shares, etc?
machoman - 06 Mar 2012 10:19 - 209 of 477
ahoj
re - funding
Sure you will have to ask the management that, or what is their plans, to extract the findings or passed it on to a larger company.
In the meantime I play short term, so I did sell my punt soon after my post as the MMs were paying a very good premium to bid price ( above middle price ).
other reasons was SP over Higher bolinger Band, Indicators around the overbought territory and my % gain was on my target 20% ( not to bad for less than 3 weeks ( 17 February)
re - funding
Sure you will have to ask the management that, or what is their plans, to extract the findings or passed it on to a larger company.
In the meantime I play short term, so I did sell my punt soon after my post as the MMs were paying a very good premium to bid price ( above middle price ).
other reasons was SP over Higher bolinger Band, Indicators around the overbought territory and my % gain was on my target 20% ( not to bad for less than 3 weeks ( 17 February)
js8106455 - 16 May 2012 14:04 - 210 of 477
Hey guys, I found this link of an audio interview with Baobab Resources and wanted to share it with you guys.
Its well worth a click:
http://www.brrmedia.co.uk/event/98087/ben-james-managing-director
Its well worth a click:
http://www.brrmedia.co.uk/event/98087/ben-james-managing-director
cynic
- 16 May 2012 14:34
- 211 of 477
bao wow = dog
Balerboy
- 16 May 2012 19:56
- 212 of 477
why don't you F*** off js8
mamborico - 21 May 2012 22:20 - 213 of 477
there are a couple of Pissing Dogs on this thread >>> SHAME
I dipped my toe on the stock today, everything seems just right for the bounce from the bottom floor 7p now 8p
I dipped my toe on the stock today, everything seems just right for the bounce from the bottom floor 7p now 8p
rekirkham
- 06 Jun 2012 14:47
- 214 of 477
What worries me about Baobab etc with iron ore and coal at Tete -
Iron ore and coal are a low cost and high volume products to transport
I do not think there is a sustantial local market for iron ore or coal anywhere
near Tete
Steel could be made from coal, iron ore, and limestone if a blast furnace
could be built, then they could export steel from Tete perhaps
Tete iron ore would be competing with iron ore which is much closer to
user markets i.e Ukrane for Europe, Australia for China, etc
They would need to transport the iron ore or coal for miles to the coast
Maybe I need to study the economics of Tete deposits, but at the moment
I just do not see it ?
Is it like finding gold on the moon ? Have a look on a map and find Tete.
Iron ore and coal are a low cost and high volume products to transport
I do not think there is a sustantial local market for iron ore or coal anywhere
near Tete
Steel could be made from coal, iron ore, and limestone if a blast furnace
could be built, then they could export steel from Tete perhaps
Tete iron ore would be competing with iron ore which is much closer to
user markets i.e Ukrane for Europe, Australia for China, etc
They would need to transport the iron ore or coal for miles to the coast
Maybe I need to study the economics of Tete deposits, but at the moment
I just do not see it ?
Is it like finding gold on the moon ? Have a look on a map and find Tete.
rekirkham
- 06 Jun 2012 14:49
- 215 of 477
What worries me about Baobab etc with iron ore and coal at Tete -
Iron ore and coal are a low cost and high volume products to transport
I do not think there is a sustantial local market for iron ore or coal anywhere
near Tete
Steel could be made from coal, iron ore, and limestone if a blast furnace
could be built, then they could export steel from Tete perhaps
Tete iron ore would be competing with iron ore which is much closer to
user markets i.e Ukrane for Europe, Australia for China, etc
They would need to transport the iron ore or coal for miles to the coast
Maybe I need to study the economics of Tete deposits, but at the moment
I just do not see it ?
Is it like finding gold on the moon ? Have a look on a map and find Tete.
Iron ore and coal are a low cost and high volume products to transport
I do not think there is a sustantial local market for iron ore or coal anywhere
near Tete
Steel could be made from coal, iron ore, and limestone if a blast furnace
could be built, then they could export steel from Tete perhaps
Tete iron ore would be competing with iron ore which is much closer to
user markets i.e Ukrane for Europe, Australia for China, etc
They would need to transport the iron ore or coal for miles to the coast
Maybe I need to study the economics of Tete deposits, but at the moment
I just do not see it ?
Is it like finding gold on the moon ? Have a look on a map and find Tete.
js8106455 - 19 Nov 2012 09:35 - 216 of 477
Audio interview with Ben James, Managing Director
Ben James, Managing Director gives an update on the final year results, forthcoming pre-feasability study and financing potential.
Click the link below to listen:
http://www.brrmedia.co.uk/event/106741/ben-james-managing-director
Ben James, Managing Director gives an update on the final year results, forthcoming pre-feasability study and financing potential.
Click the link below to listen:
http://www.brrmedia.co.uk/event/106741/ben-james-managing-director
js8106455 - 03 Dec 2012 16:12 - 217 of 477
Audio interview with Ben James, Managing Director of Baobab Resources. The Company is very pleased to present the Ruoni Flats resource statement. Baobab is now able to realistically consider significantly larger production options at Tete, with the expanded 490Mt Tenge/Ruoni resource base sufficient on its own to underpin a 4Mtpa Pig Iron operation over an impressive life of mine of c.35 years
Click the link below to listen:
http://www.brrmedia.co.uk/event/107071/ben-james-managing-director
Click the link below to listen:
http://www.brrmedia.co.uk/event/107071/ben-james-managing-director
rekirkham
- 04 Dec 2012 13:30
- 218 of 477
I suggest you sell now at 12.75p
rekirkham
- 05 Dec 2012 08:35
- 219 of 477
I agree that pig iron production is the way to go from Tete.
But the economics of getting it to ? Asia, etc I really do not know.
I think Baobab was funded and floated to explore mainly old Portugese
mining operations in Mocambique. It seems that gem stones, copper
and nickel have not yet been commercially found as intended, and they
have switched operations into Tete, where it was already known their were
quantities of coal. Do know about iron ore.
Looks like they will need to transport pig iron across Malawi, where they
would need to construct some rail line and repair some, or down the Zambezi
"corridor" to Beira somehow. Either journey is a good distance to the Indian
Ocean coast. Then ship to markets, probably in Asia.
Interesting ambitions, but far too much of a long shot for me.
Share price seems to be dropping back now
But the economics of getting it to ? Asia, etc I really do not know.
I think Baobab was funded and floated to explore mainly old Portugese
mining operations in Mocambique. It seems that gem stones, copper
and nickel have not yet been commercially found as intended, and they
have switched operations into Tete, where it was already known their were
quantities of coal. Do know about iron ore.
Looks like they will need to transport pig iron across Malawi, where they
would need to construct some rail line and repair some, or down the Zambezi
"corridor" to Beira somehow. Either journey is a good distance to the Indian
Ocean coast. Then ship to markets, probably in Asia.
Interesting ambitions, but far too much of a long shot for me.
Share price seems to be dropping back now
js8106455 - 10 Dec 2012 15:45 - 220 of 477
Baobab Resources presenting at Minesite.
Click the link to view:
http://www.brrmedia.co.uk/event/107075/ben-james-managing-director
Click the link to view:
http://www.brrmedia.co.uk/event/107075/ben-james-managing-director
cynic
- 11 Dec 2012 22:35
- 221 of 477
i see this dog has started barking loudly once more, though unsure how justified
rekirkham
- 12 Dec 2012 07:50
- 222 of 477
Like Cynic -
I just do not know or understand who is buying this share at this 16.50p price.
Good luck to them, but I am keeping well clear.
I just do not know or understand who is buying this share at this 16.50p price.
Good luck to them, but I am keeping well clear.
cynic
- 28 Dec 2012 08:11
- 223 of 477
when i posted previously on 11/12, sp was 15.50 ...... it is now 19.75 ..... ride the momentum if you wish, but it remains a dangerous play
mitzy - 28 Dec 2012 08:28 - 224 of 477
Superb chart.
cynic
- 31 Dec 2012 08:42
- 225 of 477
Number2 Son certainly called this one right when he told me to get back in a few weeks back ..... i actually held off until 18.75, which was a bit late in the day, but still doing very well
rekirkham
- 31 Dec 2012 09:32
- 226 of 477
I do not understand BAO share price - who is buying - Chinese ?
Pig iron from Tete ???
OK big reserves coal and iron ore.
What is the transport route and costs ???
Which market are they intending to target ???
I think BAO was floated at 6p about three years ago to explore old Portuguese
mining potentials in Mocambique. Searches for copper and nickel etc have not been fruitful so they have turned to Tete where coal and iron ore were already known to be.
Pity they have not found something other than low value bulk ores far inland.
Anyway - maybe someone knows something I do not.
Good luck, - hope you do not get blasted and your fingers burnt in this furnace.
Pig iron from Tete ???
OK big reserves coal and iron ore.
What is the transport route and costs ???
Which market are they intending to target ???
I think BAO was floated at 6p about three years ago to explore old Portuguese
mining potentials in Mocambique. Searches for copper and nickel etc have not been fruitful so they have turned to Tete where coal and iron ore were already known to be.
Pity they have not found something other than low value bulk ores far inland.
Anyway - maybe someone knows something I do not.
Good luck, - hope you do not get blasted and your fingers burnt in this furnace.
mitzy - 31 Dec 2012 09:38 - 227 of 477
Superb performance today.
cynic
- 31 Dec 2012 09:38
- 228 of 477
i am reasonably sure i shall make my exit too early!
cynic
- 31 Dec 2012 10:36
- 229 of 477
profit now taken at 25.75 :-)
=============
i believe there may be further news in late jan/feb, but will it be truly spiffing?
in the meantime, the present rise looks ridiculous to me, but as so often, i am/was happy to ride the momentum
=============
i believe there may be further news in late jan/feb, but will it be truly spiffing?
in the meantime, the present rise looks ridiculous to me, but as so often, i am/was happy to ride the momentum
rekirkham
- 31 Dec 2012 11:13
- 230 of 477
WOW WOW WOW - I BOW - well done Cynic
Must be some news or something coming !!!
Just can not believe this share is worth anything like current price
Must be some news or something coming !!!
Just can not believe this share is worth anything like current price
cynic
- 31 Dec 2012 11:21
- 231 of 477
more like "well done Number2 Son" ..... this time i hope he'll have the sense to take profits, unlike ignoring that advice last time re this one and XEL ..... given that he is now in the middle of africa for 3 weeks, i hope he will not come home to find his profit in tatters
rekirkham
- 31 Dec 2012 11:24
- 232 of 477
Cynic
Where is he in Africa - I spent half my life there.
Nigeria, Cameroon, Kenya, Malawi, etc etc even boarders of Mozambique
How many times has he had malaria ?
Where is he in Africa - I spent half my life there.
Nigeria, Cameroon, Kenya, Malawi, etc etc even boarders of Mozambique
How many times has he had malaria ?
blanche - 31 Dec 2012 11:37 - 233 of 477
5 or 6 companies are gonna be fighting it out shortly to become the joint venture partner here. Long way to go on this rise new highs coming. May get a few t20 people taking profits today and tuesday. But then back on the rise.8-)
blanche - 31 Dec 2012 11:38 - 234 of 477
Cynic if this a dog then its a pedigree.lol
rekirkham
- 31 Dec 2012 11:57
- 235 of 477
A pedigree mongrel - that is what it is.
Laugh out loud ( not Lots of love )
Laugh out loud ( not Lots of love )
cynic
- 31 Dec 2012 12:08
- 236 of 477
Number2 is in Tanzania on another of his holidays .... i know he is really looking forward to some scuba diving while there ..... as for malaria, he thought better of it, and went to a penis restaurant in beijing instead!
=============
blanche - kennel club pedigree this is NOT, by any stretch of the imagination .... that does not mean one should not ride the momentum, but bear in mind the "wheel of fortune"
=============
blanche - kennel club pedigree this is NOT, by any stretch of the imagination .... that does not mean one should not ride the momentum, but bear in mind the "wheel of fortune"
magicjoe - 31 Dec 2012 13:07 - 237 of 477
I do not see "c" saying I am in till 26p ( today )
Profit what profit
Someone belive (its) own lies
Happy new Year
cynic - 31 Dec 2012 08:42 - 225 of 236
Number2 Son certainly called this one right when he told me to get back in a few weeks back ..... i actually held off until 18.75, which was a bit late in the day, but still doing very well
cynic - 28 Dec 2012 08:11 - 223 of 237
when i posted previously on 11/12, sp was 15.50 ...... it is now 19.75 ..... ride the momentum if you wish, but it remains a dangerous play
cynic - 16 May 2012 14:34 - 211 of 237
bao wow = dog
Balerboy - 16 May 2012 19:56 - 212 of 237
why don't you F*** off js8
mamborico - 21 May 2012 22:20 - 213 of 237
there are a couple of Pissing Dogs on this thread >>> SHAME
I dipped my toe on the stock today, everything seems just right for the bounce from the bottom floor 7p now 8p
I do see someone buying at bottom and is not - son2 -
The proof is on the Christmas Pudding no on familly fancy words
LIES LIES AND LIES is my tune for new YEAR, but yet it has been for such a long long time
Profit what profit
Someone belive (its) own lies
Happy new Year
cynic - 31 Dec 2012 08:42 - 225 of 236
Number2 Son certainly called this one right when he told me to get back in a few weeks back ..... i actually held off until 18.75, which was a bit late in the day, but still doing very well
cynic - 28 Dec 2012 08:11 - 223 of 237
when i posted previously on 11/12, sp was 15.50 ...... it is now 19.75 ..... ride the momentum if you wish, but it remains a dangerous play
cynic - 16 May 2012 14:34 - 211 of 237
bao wow = dog
Balerboy - 16 May 2012 19:56 - 212 of 237
why don't you F*** off js8
mamborico - 21 May 2012 22:20 - 213 of 237
there are a couple of Pissing Dogs on this thread >>> SHAME
I dipped my toe on the stock today, everything seems just right for the bounce from the bottom floor 7p now 8p
I do see someone buying at bottom and is not - son2 -
The proof is on the Christmas Pudding no on familly fancy words
LIES LIES AND LIES is my tune for new YEAR, but yet it has been for such a long long time
cynic
- 31 Dec 2012 13:58
- 238 of 477
MJ - i observed on 11/12 that this stock had gone bonkers, but did not in fact buy until 09:57 on 27/12 (so my a/c shows) ..... i had no pre-set target, and for that matter, i don't recollect you ever posting a target with your own prognostications ..... however, this morning i saw the price seemed to have stalled and had come off a little, and as i already had a very juicy profit, i decided to be prudent ... any objection?
as for Number2 Son, i am fairly certain that he bought in at 10p many many moons ago - like late 2011
so what's your gripe now, or are you merely polishing up your customary bad-tempered and inaccurate innuendos and accusations for the new year? .... i'm sure the doctor can prescribe something short of arsenic for your psychosis
as for Number2 Son, i am fairly certain that he bought in at 10p many many moons ago - like late 2011
so what's your gripe now, or are you merely polishing up your customary bad-tempered and inaccurate innuendos and accusations for the new year? .... i'm sure the doctor can prescribe something short of arsenic for your psychosis
magicjoe - 31 Dec 2012 14:16 - 239 of 477
No gripe just the truth
you did not say you did buy at the time not even the day after, maybe you did but in my accout it says NO
Maybe you are covering your arse as usual not good enough
if you did not say buy, do not bother to say I sold now, just because profit taking The sock is volatile and there is profit taking every day)
maybe .....( a woman just said coward on a film on TV ( Alamo ) maybe is that what you are.
you did not say you did buy at the time not even the day after, maybe you did but in my accout it says NO
Maybe you are covering your arse as usual not good enough
if you did not say buy, do not bother to say I sold now, just because profit taking The sock is volatile and there is profit taking every day)
maybe .....( a woman just said coward on a film on TV ( Alamo ) maybe is that what you are.
Balerboy
- 31 Dec 2012 14:21
- 240 of 477
How did I get into this debacle, still stand by what I said though.,.
magicjoe - 31 Dec 2012 14:23 - 241 of 477
the usual chart turning up after a few month at bottom
But also good news on the Iron front ( chinesse )
But also good news on the Iron front ( chinesse )
cynic
- 31 Dec 2012 14:39
- 242 of 477
you total and utter arsehole!
why should i feel obligated to anyone, let someone like you, to post each and every trade i make?
perhaps you would like the IG trade references, or would you prefer direct access to my account?
i said on 11th - no apparent reason, etc etc - and again on 28th - it remains a dangerous play .....
and so it is, and i could not and would not encourage anyone to dabble in this stock ..... it happens that i chose to do so, and arguably got lucky thanks to Number2 Son
may you have a totally miserable and wretched 2013 ..... it'll match your nature, so should be most enjoyable for you
why should i feel obligated to anyone, let someone like you, to post each and every trade i make?
perhaps you would like the IG trade references, or would you prefer direct access to my account?
i said on 11th - no apparent reason, etc etc - and again on 28th - it remains a dangerous play .....
and so it is, and i could not and would not encourage anyone to dabble in this stock ..... it happens that i chose to do so, and arguably got lucky thanks to Number2 Son
may you have a totally miserable and wretched 2013 ..... it'll match your nature, so should be most enjoyable for you
ptholden
- 31 Dec 2012 14:42
- 243 of 477
Mrsi, you really are a total retard much in need of regular medication to control your personal issues, for which you have been banned from this site on at least two occasions (to the best of my knowledge).
Despite Cynic offering you an olive branch (not all deserved IMHO) you continue to cast doubt on his integrity, reverting whenever possible to your usual default setting of insult. You really need do need help you odious little man, along with Proselenes you get my 2012 award for twat of the year, well done and well deserved.
Cynic, BB, HNY to you both.
Despite Cynic offering you an olive branch (not all deserved IMHO) you continue to cast doubt on his integrity, reverting whenever possible to your usual default setting of insult. You really need do need help you odious little man, along with Proselenes you get my 2012 award for twat of the year, well done and well deserved.
Cynic, BB, HNY to you both.
cynic
- 31 Dec 2012 14:44
- 244 of 477
hi Peter ..... on the other hand, i hope yours brings much happiness etc etc, for i guess some might be overdue in your quarter.
magicjoe - 31 Dec 2012 14:54 - 245 of 477
I want to go for lunch but I had a last look and find something that does not match ...
18.75p late on the day was 27th till close time
( so no buy earlier because was Bank holiday 26th )
but now buy earlier morning 27th after BH
so confusing
..........what it looks buy late on the day 18.75p and later...
........in fact buy until 09:57 on 27/12 (so my a/c shows)
cynic - 31 Dec 2012 08:42 - 225 of 241
Number2 Son certainly called this one right when he told me to get back in a few weeks back ..... i actually held off until 18.75, which was a bit late in the day, but still doing very well
cynic - 31 Dec 2012 13:58 - 238 of 241
MJ - i observed on 11/12 that this stock had gone bonkers, but did not in fact buy until 09:57 on 27/12 (so my a/c shows) .....
18.75p late on the day was 27th till close time
( so no buy earlier because was Bank holiday 26th )
but now buy earlier morning 27th after BH
so confusing
..........what it looks buy late on the day 18.75p and later...
........in fact buy until 09:57 on 27/12 (so my a/c shows)
cynic - 31 Dec 2012 08:42 - 225 of 241
Number2 Son certainly called this one right when he told me to get back in a few weeks back ..... i actually held off until 18.75, which was a bit late in the day, but still doing very well
cynic - 31 Dec 2012 13:58 - 238 of 241
MJ - i observed on 11/12 that this stock had gone bonkers, but did not in fact buy until 09:57 on 27/12 (so my a/c shows) .....
magicjoe - 31 Dec 2012 15:05 - 246 of 477
ptholden
( if you are talking to me I am magicjoe
are you just an interfering bla bla bla?, so stay away from it should be the right advise
have a HOLDER for 2013, it seems you needed
no olive branch from "C" but got caught by someone with knowledge of shares at PFC so had to go down on ( its ) knees, but I do not forget forgive, and if caught with HALF trues I like to EXPOSE them to the World of the dirty games.
Just stay away from this debate and keep the nastiness for you FAMILY is you have one.
( if you are talking to me I am magicjoe
are you just an interfering bla bla bla?, so stay away from it should be the right advise
have a HOLDER for 2013, it seems you needed
no olive branch from "C" but got caught by someone with knowledge of shares at PFC so had to go down on ( its ) knees, but I do not forget forgive, and if caught with HALF trues I like to EXPOSE them to the World of the dirty games.
Just stay away from this debate and keep the nastiness for you FAMILY is you have one.
cynic
- 31 Dec 2012 17:49
- 247 of 477
MJ - you are a total and utter moron when it comes to doing anything other than drawing pretty pictures with comment ..... others would no doubt find shorter and pithier epithets
if i say i did or did not do something, then that is a matter of fact, not guesswork and certainly not for you have the unwarranted temerity to cast aspersions as to my integrity ..... i'ld guess that the reason you could not find my purchase - nor probably my sale either - despite your fbi-like investigations (probably similarly efficient), is that (a) BAO is an MM stock only, and (b) i use CFDs
i wouldn't expect an apology from you, as you don't even understand the word let alone know how to phrase such a thing
as it is, you can no doubt stand in stunned self-delusioned amazement that no one has much regard for you - possibly or even probably not even your dog or goldfish, let alone any poor human being who is foolish enough to share your life
if i say i did or did not do something, then that is a matter of fact, not guesswork and certainly not for you have the unwarranted temerity to cast aspersions as to my integrity ..... i'ld guess that the reason you could not find my purchase - nor probably my sale either - despite your fbi-like investigations (probably similarly efficient), is that (a) BAO is an MM stock only, and (b) i use CFDs
i wouldn't expect an apology from you, as you don't even understand the word let alone know how to phrase such a thing
as it is, you can no doubt stand in stunned self-delusioned amazement that no one has much regard for you - possibly or even probably not even your dog or goldfish, let alone any poor human being who is foolish enough to share your life
cynic
- 31 Dec 2012 17:51
- 248 of 477
does anyone have any idea (or care) who or what PTC might be or its relevance?
rekirkham
- 02 Jan 2013 09:50
- 249 of 477
??? No news releases out
-Looks like it may just be market buying lifting share price
-Looks like it may just be market buying lifting share price
cynic
- 02 Jan 2013 09:51
- 250 of 477
i don't think anything expected before +/- month end
cynic
- 02 Jan 2013 12:14
- 251 of 477
lemming excitement has evaporated like snow in hot sunshine, as it tends to do.
the question is now, how far will it fall and/or at what level does one re-buy, if at all
the question is now, how far will it fall and/or at what level does one re-buy, if at all
magicjoe - 02 Jan 2013 13:15 - 252 of 477
RE - cynic - 02 Jan 2013 11:52 - 1940 of 1944
he should take the view of the jews who know and accept that not only are they the Chosen Race, but also deserve to be prosecuted :-)
DREAMING ALRIGHT, but I think people post Sh-- but do not mean it
Chosen race, I think he meants HATED race ( just ask the Palestinians )
prosecuted, I think he means what Hitler did
persecuted, I think is what "magicjoec" did, but he does not like it
he should take the view of the jews who know and accept that not only are they the Chosen Race, but also deserve to be prosecuted :-)
DREAMING ALRIGHT, but I think people post Sh-- but do not mean it
Chosen race, I think he meants HATED race ( just ask the Palestinians )
prosecuted, I think he means what Hitler did
persecuted, I think is what "magicjoec" did, but he does not like it
Toya
- 02 Jan 2013 13:16
- 253 of 477
I don't hold any of these currently, but here's today's News:
Baobab draws down £1.02m under equity line facility
[FromStockMarketWire.com]
Baobab Resources has drawn down £1,023,000 of its £17m equity line facility with Dutchess Opportunity Cayman Fund.
The funds will be used to accelerate certain aspects of the definitive feasibility study of the company's flagship pig iron project at Tete in Mozambique and following this drawdown the outstanding balance of the ELF will be £13,825,800.
Under terms of the ELF, the company has allotted, conditional on admission, 7,135,526 ordinary shares to Dutchess at a price of 15.25p apiece. This price is calculated by a formula under the terms of the ELF based on the prevailing market price between 7 December and 27 December.
Baobab draws down £1.02m under equity line facility
[FromStockMarketWire.com]
Baobab Resources has drawn down £1,023,000 of its £17m equity line facility with Dutchess Opportunity Cayman Fund.
The funds will be used to accelerate certain aspects of the definitive feasibility study of the company's flagship pig iron project at Tete in Mozambique and following this drawdown the outstanding balance of the ELF will be £13,825,800.
Under terms of the ELF, the company has allotted, conditional on admission, 7,135,526 ordinary shares to Dutchess at a price of 15.25p apiece. This price is calculated by a formula under the terms of the ELF based on the prevailing market price between 7 December and 27 December.
Toya
- 02 Jan 2013 13:17
- 254 of 477
Looks like it could well pull back to around 15p then!
magicjoe - 02 Jan 2013 13:18 - 255 of 477
Easy Up easy down after a double top
Volatile alright that is BAO all along
the 50% Fibonacci retracement is around the 17.375p
Volatile alright that is BAO all along
the 50% Fibonacci retracement is around the 17.375p
cynic
- 02 Jan 2013 13:41
- 256 of 477
stop being such a pathetically psychotic and abusive idiot.
all it does is display your own sad and twisted mentality.
try sticking to the useful bits like the pretty pix with intelligent comment
all it does is display your own sad and twisted mentality.
try sticking to the useful bits like the pretty pix with intelligent comment
magicjoe - 02 Jan 2013 13:43 - 257 of 477
I love when you are angry it shows you ARS- is itching, your brain gets in fire ......
..... and your mouth just gets bigger and bigger >>>> BIG MOUTH
..... and your mouth just gets bigger and bigger >>>> BIG MOUTH
cynic
- 02 Jan 2013 13:48
- 258 of 477
i couldn't possibly get angry with you
you're just a sad and pathetic individual, but that does not mean you aren't a complete and utter bore
you're just a sad and pathetic individual, but that does not mean you aren't a complete and utter bore
IanT(MoneyAM)
- 02 Jan 2013 13:57
- 259 of 477
magic joe,
could you please refrain from personal insults etc. that goes for all on thei and any other thread - keep to topic please.
Ian
could you please refrain from personal insults etc. that goes for all on thei and any other thread - keep to topic please.
Ian
blanche - 02 Jan 2013 15:09 - 260 of 477
All the traders out this morn i see. Normal service is resumed. 8-) On gr8t volumes as well.
cynic
- 02 Jan 2013 15:12
- 261 of 477
"normal service" is south! :-)
cynic
- 02 Jan 2013 20:11
- 262 of 477
and isn't beautifully quiet and peaceful suddenly :-)
magicjoe - 03 Jan 2013 14:12 - 263 of 477
re - cynic - 31 Dec 2012 10:36 - 229 of 262
profit now taken at 25.75 :-)
the no sell no profit, now it sounds too early, just like so may false pretences on the past .....I would take a short ( and share price just rise , rise and rise )
What a live for some, it is just fun for me to see day after day the post over here
profit now taken at 25.75 :-)
the no sell no profit, now it sounds too early, just like so may false pretences on the past .....I would take a short ( and share price just rise , rise and rise )
What a live for some, it is just fun for me to see day after day the post over here
cynic
- 03 Jan 2013 15:02
- 264 of 477
be careful ..... you've already had one shot across the bows ..... make sure you don't get one next below the waterline (won't be for the first time i'm sure), especially if you make unfounded aspersions as to my integrity
as it is, i am more than happy with my previous decision and with that taken subsequently ....... old adage; no one ever went broke banking a profit
as it is, i am more than happy with my previous decision and with that taken subsequently ....... old adage; no one ever went broke banking a profit
cynic
- 11 Jan 2013 10:21
- 265 of 477
my "muppet sale" at 25.75 looks to have been quite a smart move as stale bulls now move out (sp = 20) ...... if there is more news to come in the next few weeks (i think there may be), then the brave may wish to buy back in before that - and equally sell before the news
rekirkham
- 11 Jan 2013 13:12
- 266 of 477
Mr Cynic - You say if there is more news ??
I do not yet know why it went up in the first place
I think there was no news then ??
Old adage - what goes up must come down
I am keeping well clear - had enough disasters last yearl
I do not yet know why it went up in the first place
I think there was no news then ??
Old adage - what goes up must come down
I am keeping well clear - had enough disasters last yearl
cynic
- 11 Jan 2013 13:21
- 267 of 477
i really keep an eye on this one because i know Number2 Son has an interest, though yes i did indeed make a very nice turn a few weeks - even if a certain buffoon did decide to call me a liar for no good reason at all
magicjoe - 15 Jan 2013 22:56 - 268 of 477
For all to see and digest >>>>>> take it with a pinch of salt
the liar ( post 267 says ) can not sleep at night it seems, so .....
has to tell stories to the growing up son to go to sleep too
the liar ( post 267 says ) can not sleep at night it seems, so .....
has to tell stories to the growing up son to go to sleep too
magicjoe - 15 Jan 2013 23:15 - 269 of 477
After the large rise lately, had a 38.2% Fibonacci retracement and now is bouncing back.
cynic
- 16 Jan 2013 07:54
- 270 of 477
MJ - suppress your natural instincts and stop showing yourself to the world as being the total pratt that you indeed seem to be - you really are very dull indeed .... try sticking to your pretty and sometimes useful charts and comment
===================
my sale at 25.75 looks to have been most fortunate - i would never say skillful with regard to my trading activities ..... in the light of MJ's chart, shall contemplate buying back in, for i'm sure Number2 Son had info that there was some news due about month end - shall check with him, but he's currently in CA so won't hear for several hours
===================
my sale at 25.75 looks to have been most fortunate - i would never say skillful with regard to my trading activities ..... in the light of MJ's chart, shall contemplate buying back in, for i'm sure Number2 Son had info that there was some news due about month end - shall check with him, but he's currently in CA so won't hear for several hours
cynic
- 16 Jan 2013 10:36
- 271 of 477
Number2 Son up ridiculously early by the looks of it (jet lag he says) ....... he says ......
"Meant to be 2 resource upgrades and release of pre-feasibility study for mining operation before a big industry event on 4th february"
no guarantee that that will prove to be the case
"Meant to be 2 resource upgrades and release of pre-feasibility study for mining operation before a big industry event on 4th february"
no guarantee that that will prove to be the case
magicjoe - 16 Jan 2013 12:00 - 272 of 477
have you become STUPID or you were born STUPID ( pay back with names )
We are here to talk business but it seems you think you are in " FACEBOOK "
Talking about your family all the time
Background >>>>>>>>>>>>> My father is from Poland
religion >>>>>>>>>>> I am a jew
I got .... son1 and son2
Strange but I do not care ... nothing about women
etc,,, etc,,,
BTW , get the masage, stop taking advantage of the other posters knowledge as usual and admited in a better way
We are here to talk business but it seems you think you are in " FACEBOOK "
Talking about your family all the time
Background >>>>>>>>>>>>> My father is from Poland
religion >>>>>>>>>>> I am a jew
I got .... son1 and son2
Strange but I do not care ... nothing about women
etc,,, etc,,,
BTW , get the masage, stop taking advantage of the other posters knowledge as usual and admited in a better way
cynic
- 16 Jan 2013 12:17
- 273 of 477
why don't you just take a powder and disappear from this site for ever?
as for me, i certainly don't need your permission let alone blessing to post on MAM
you may also note that i refrain from the perpetual spew of personal abuse with which you seem to be obsessed
as for me, i certainly don't need your permission let alone blessing to post on MAM
you may also note that i refrain from the perpetual spew of personal abuse with which you seem to be obsessed
magicjoe - 21 Jan 2013 12:20 - 274 of 477
no repply is the best way to get a "cynic " to SHUT UP
---------------------
Let the share price do the talking not the " stoker "
and today finally has oblidged, one must not rush things
volume the key for a good rise is there
---------------------
Let the share price do the talking not the " stoker "
and today finally has oblidged, one must not rush things
volume the key for a good rise is there
blanche - 24 Jan 2013 14:07 - 275 of 477
Hi cynic, Have you bought back in yet.? Don't leave it to late.8-) We're getting close now.
magicjoe - 24 Jan 2013 14:13 - 276 of 477
blanche
do not waste your time, the "cynic" never had a share on BAO, it is just bore sometimes and wants to make like is making money but it not I know it from good sources.
continuing with the rise and today a bit more than the last couple days, though too early to count........ the chikens
do not waste your time, the "cynic" never had a share on BAO, it is just bore sometimes and wants to make like is making money but it not I know it from good sources.
continuing with the rise and today a bit more than the last couple days, though too early to count........ the chikens
cynic
- 24 Jan 2013 14:18
- 277 of 477
MJ - time i called you a pathological liar i think ..... not least, i am more than a little bored with your incessant and unjustified personal slurs and abuse.
Blanche - in answer to your question, i did indeed buy back just over a week ago at an average price of 23.55 - rather over the odds i fear, but never mind
Blanche - in answer to your question, i did indeed buy back just over a week ago at an average price of 23.55 - rather over the odds i fear, but never mind
Balerboy
- 24 Jan 2013 14:19
- 278 of 477
What are we getting close too?? blanche or cyners.,.
magicjoe - 24 Jan 2013 14:20 - 279 of 477
And i thought you were the J liar
take it or ....... STAKER aswell
Can you believe it, one week later is saying I bought on my suggestion
naturally will not say cos it was moving nowhere
take it or ....... STAKER aswell
Can you believe it, one week later is saying I bought on my suggestion
naturally will not say cos it was moving nowhere
blanche - 24 Jan 2013 14:20 - 280 of 477
magic Joe,
I've conversed with cynic for many years. ,I've no problem with him.8-) glty
I've conversed with cynic for many years. ,I've no problem with him.8-) glty
cynic
- 24 Jan 2013 14:20
- 281 of 477
see post 271
=============
thank you blanche
as i guess you know, as do a good number of people on this site, if i say something of my dealing or similar, then it's fact
=============
thank you blanche
as i guess you know, as do a good number of people on this site, if i say something of my dealing or similar, then it's fact
Balerboy
- 24 Jan 2013 14:21
- 282 of 477
does mj's L not work.......
Balerboy
- 24 Jan 2013 14:22
- 283 of 477
Ta.,.
magicjoe - 24 Jan 2013 14:26 - 284 of 477
Blanche
nothing wrong with chatting, but do you try to find out if there is any truth on what are they saying, like ... i bought a week ago.
howmany times has posted since ( the hypocrit )
nothing wrong with chatting, but do you try to find out if there is any truth on what are they saying, like ... i bought a week ago.
howmany times has posted since ( the hypocrit )
blanche - 24 Jan 2013 14:27 - 285 of 477
cynic, it didn't fall much below that price,so I think you did ok. Just in time as this dog is about to wag its tail.8-)
cynic
- 24 Jan 2013 14:30
- 286 of 477
i didn't post that i had bought a week or so ago .... why should i? ..... what is hypocritical about it
you really are a very nasty, spiteful, bitter and twisted little man ..... i wish you a slow and lingering death, but in silence
you really are a very nasty, spiteful, bitter and twisted little man ..... i wish you a slow and lingering death, but in silence
Balerboy
- 24 Jan 2013 14:32
- 287 of 477
have traded these back in 2010/11 and made good profit but got stuck with some at 30p ave. so will be glad to see these back to 40 - 50p.,.
magicjoe - 24 Jan 2013 14:36 - 288 of 477
That has been my point all the time ....
Why saying I sold at such a price with a good profit then now and then
If you do not do the buy dont do the sell.
But as allways something wrong with you...covering your A#se just in case does not performe ( done in many shares before)
Why saying I sold at such a price with a good profit then now and then
If you do not do the buy dont do the sell.
But as allways something wrong with you...covering your A#se just in case does not performe ( done in many shares before)
magicjoe - 24 Jan 2013 14:39 - 289 of 477
re - you really are a very nasty, spiteful, bitter and twisted little man ..... i wish you a slow and lingering death, but in silence
That is you all along since that woman left you.
it makes me - Ja ja ja - when one gets into their inside, ready to explode it seems
---------------------
That is you all along since that woman left you.
it makes me - Ja ja ja - when one gets into their inside, ready to explode it seems
cynic
- 24 Jan 2013 14:41
- 290 of 477
listen you twisted little gnome ...... a few weeks ago, i bought (from memory) at 19 and sold at 25.75 (from memory) .... you missed your chance to bank a good profit - hard cheese ..... for whatever reason your nasty little mind made up, you abused me for my own (successful) trade, though as always, without any justification whatsoever ..... i bought back just over a week ago because i chose to ..... i don't require your permission to do so and nor am i required to register as much
"since that woman left you" ????????????? ...... what on earth is all that about????????? ...... i've been married to the same woman for over 33 years!!
"since that woman left you" ????????????? ...... what on earth is all that about????????? ...... i've been married to the same woman for over 33 years!!
Balerboy
- 24 Jan 2013 14:41
- 291 of 477
I should leave it there mj or you'll have to be reincarnated once more with another name if ian see's this.,.
blanche - 24 Jan 2013 14:42 - 292 of 477
magicJoe,
I've been doing this since 1995. I retired from work in 2007 at the tender age of 45. Now at 50 I sussed out bulletin boards many moons ago thanks.
I've been doing this since 1995. I retired from work in 2007 at the tender age of 45. Now at 50 I sussed out bulletin boards many moons ago thanks.
blanche - 24 Jan 2013 14:48 - 293 of 477
Balerboy, You will see yer 30-40p very soon. 8-)
Balerboy
- 24 Jan 2013 14:52
- 294 of 477
hope so, been a 12 month waiting ;)
cynic
- 24 Jan 2013 14:52
- 295 of 477
hmm - can't say i'm that bullish, but it certainly looks as though there's a decent profit to be made with the current momentum
magicjoe - 24 Jan 2013 15:23 - 296 of 477
re - you missed your chance to bank a good profit
I think you said that a few times before, everyone has its strategies, and mind is bank profits it if is a short term large rise and most likley on T+15 or 20 days, so I would not have to pay for them on selling.
But I bought Bao twice 10.22p and 9.65p as I realised it was languising with a flat bottom and dowtrend gone, but It kept doing the same for some time so I had to pay for them and Keept it on the Portfolio, but eventually than flat bottom turn up on the right side so is UPTREND, so no harry on selling, ( the trend is your friend )
The normal strategy in this cases is buy more on Retracement ( AFTER large rise any share does it eventually ) and that is what I did When I posted the Chart on the 15 January... retracement done ready for a bounce back.
as always there is a tail on the tale and never is as one expect .... Count of Montecristo comes in mind
I think you said that a few times before, everyone has its strategies, and mind is bank profits it if is a short term large rise and most likley on T+15 or 20 days, so I would not have to pay for them on selling.
But I bought Bao twice 10.22p and 9.65p as I realised it was languising with a flat bottom and dowtrend gone, but It kept doing the same for some time so I had to pay for them and Keept it on the Portfolio, but eventually than flat bottom turn up on the right side so is UPTREND, so no harry on selling, ( the trend is your friend )
The normal strategy in this cases is buy more on Retracement ( AFTER large rise any share does it eventually ) and that is what I did When I posted the Chart on the 15 January... retracement done ready for a bounce back.
as always there is a tail on the tale and never is as one expect .... Count of Montecristo comes in mind
cynic
- 24 Jan 2013 15:25
- 297 of 477
of course you traded exactly as you claim ..... why would anyone think you a liar?
magicjoe - 24 Jan 2013 15:35 - 298 of 477
Wich tablet have you taken to calm you down?
sure it was not a stiff drink so early?
I have noticed you do not ask me any more for my target, as I told you before you are only a user so no more help ( Petrofac was the right place to put you in your place )
for any one to see if they want to look there.
sure it was not a stiff drink so early?
I have noticed you do not ask me any more for my target, as I told you before you are only a user so no more help ( Petrofac was the right place to put you in your place )
for any one to see if they want to look there.
magicjoe - 24 Jan 2013 15:41 - 299 of 477
iron ore price
Morgan Stanley raised its forecast for iron ore prices this year on expectations that accelerating economic growth in China, the biggest buyer, will boost demand.
Prices will average $133 a ton this year, 11 percent more than a previous estimate, analysts Peter Richardson and Joel Crane wrote in a report today. Prices may average $142 in the first quarter and fall to $125 in the third, they said.
bloomberg / morgan-stanley-boosts-2013-iron-ore-estimate-as-demand-climbs/a>
Morgan Stanley raised its forecast for iron ore prices this year on expectations that accelerating economic growth in China, the biggest buyer, will boost demand.
Prices will average $133 a ton this year, 11 percent more than a previous estimate, analysts Peter Richardson and Joel Crane wrote in a report today. Prices may average $142 in the first quarter and fall to $125 in the third, they said.
bloomberg / morgan-stanley-boosts-2013-iron-ore-estimate-as-demand-climbs/a>
magicjoe - 24 Jan 2013 15:47 - 300 of 477
Getting closer to the Intraday BREAKOUT
if it finishised at this price will be the best closing 25.75p but intraday was 26.75p
if it finishised at this price will be the best closing 25.75p but intraday was 26.75p
cynic
- 24 Jan 2013 15:53
- 301 of 477
PFC (+ LAM as it happens) both stand me very nicely in profit
magicjoe - 24 Jan 2013 16:08 - 302 of 477
as it happens I am taking about your antics not if you had any pennies on PFC ( as i remember you said I sold a third and then bought back half) After I predicted a to be a 61.8% fibonacci retracement and it did so 100 % correct on my part, thank you very much.
Is it correct what I am saying?
also LAM you comment was not to trade on such a bad company, I did and made good profit on a very short time on the bounce back
strange to say now you made profit on LAM
Is it correct what I am saying?
also LAM you comment was not to trade on such a bad company, I did and made good profit on a very short time on the bounce back
strange to say now you made profit on LAM
cynic
- 24 Jan 2013 16:17
- 303 of 477
correction .... i am making a decent profit on LAM ..... decided to buy at 110
PFC - have traded this for 2/3/4 years as i rate the company very highly, though i don't think i'ld much like being one of their sub-contractors .... current holdings are from sept/oct 2012 ..... now that sp at last seems to have broken through the 1700 barrier, i keep fingers x-ed that it has much more puff left in its sails
i have always said that your pretty pix and comment are often useful and interesting ..... it's your perpetual stream of personal and totally unwarranted abuse that is totally unacceptable on this board - or anywhere else for that matter
PFC - have traded this for 2/3/4 years as i rate the company very highly, though i don't think i'ld much like being one of their sub-contractors .... current holdings are from sept/oct 2012 ..... now that sp at last seems to have broken through the 1700 barrier, i keep fingers x-ed that it has much more puff left in its sails
i have always said that your pretty pix and comment are often useful and interesting ..... it's your perpetual stream of personal and totally unwarranted abuse that is totally unacceptable on this board - or anywhere else for that matter
chuckles - 24 Jan 2013 17:53 - 304 of 477
Look on the bright side, MoneyAM is a fairly quiet board, at least the presence of an illegal immigrant with a severe personality order keeps us all entertained.
Magicpants is surely certifiable? Looneybin escapee? Chelsea footballer?
Magicpants is surely certifiable? Looneybin escapee? Chelsea footballer?
cynic
- 24 Jan 2013 20:09
- 305 of 477
it's Tanker who is the celtic illegal .... MJ is just certifiable when he's not taking his medication
magicjoe - 24 Jan 2013 21:30 - 306 of 477
chuckles
that is the right side
You have given the clue....... Welsh .......... Sheep S#agger and on top BARSTEWARD
more, you are not good enough to lick my large left ball on share trading and knowledge
so you are just a clown as the pic shows
BT say is good to talk, but not when is from you dirty back side, bleach does the job all the time
re - lonely
is when one goes to threads where do not own shares, and that is YOUR case and plenty more over here, I post where I own a company and from where I run my own one.
Not everyone has the "magic" to be a Master of its own
learn to talk and if is right people will listen, do not bark I am too far away to here you
fancy dress you are wearing!
that is the right side
You have given the clue....... Welsh .......... Sheep S#agger and on top BARSTEWARD
more, you are not good enough to lick my large left ball on share trading and knowledge
so you are just a clown as the pic shows
BT say is good to talk, but not when is from you dirty back side, bleach does the job all the time
re - lonely
is when one goes to threads where do not own shares, and that is YOUR case and plenty more over here, I post where I own a company and from where I run my own one.
Not everyone has the "magic" to be a Master of its own
learn to talk and if is right people will listen, do not bark I am too far away to here you
fancy dress you are wearing!
magicjoe - 24 Jan 2013 22:01 - 307 of 477
LESSONS FOR MOST TO LEARN OVER HERE - Chart - fibonacci
The Fibonacci retracements pattern can be useful for swing traders to identify reversals on a stock chart.
Stocks will often pull back or retrace a percentage of the previous move before reversing.
These Fibonacci retracements often occur at three levels: 38.2%, 50%, and 61.8%.
The 38.2% was the case for BAO on the last retracement as I posted on the 15th
the target on those grounds is for 42p but the time frame for that is another thing and first has to pass 36p
The Fibonacci retracements pattern can be useful for swing traders to identify reversals on a stock chart.
Stocks will often pull back or retrace a percentage of the previous move before reversing.
These Fibonacci retracements often occur at three levels: 38.2%, 50%, and 61.8%.
The 38.2% was the case for BAO on the last retracement as I posted on the 15th
the target on those grounds is for 42p but the time frame for that is another thing and first has to pass 36p
magicjoe - 24 Jan 2013 22:13 - 308 of 477
Posted on the 15th
When I said full of strengh above, I was meaning that it did not retrace further down to the other higher % meaning lower share price.
When I said full of strengh above, I was meaning that it did not retrace further down to the other higher % meaning lower share price.
cynic
- 25 Jan 2013 07:28
- 309 of 477
MJ - do try not to preach .....
nevertheless, your opening sentence The Fibonacci retracements pattern CAN be useful for swing traders to identify reversals on a stock chart says plenty about charts in general
there are all sorts of charts and interpretations thereof, all of which have their adherents - which is why the more popular a given charting system is, the more likely it is to be self-fulfilling
i certainly find the simpler kind of chart very useful as a guide and tool, and as so often in life, the simpler and more easy to understand the more useful ..... conversely (imo), the more complicated and esoteric the system, the less likely it is to reap results
i am well aware that the above may not be written with the usual clarity and brevity for which i strive, but i think most will understand the point i am trying to make
nevertheless, your opening sentence The Fibonacci retracements pattern CAN be useful for swing traders to identify reversals on a stock chart says plenty about charts in general
there are all sorts of charts and interpretations thereof, all of which have their adherents - which is why the more popular a given charting system is, the more likely it is to be self-fulfilling
i certainly find the simpler kind of chart very useful as a guide and tool, and as so often in life, the simpler and more easy to understand the more useful ..... conversely (imo), the more complicated and esoteric the system, the less likely it is to reap results
i am well aware that the above may not be written with the usual clarity and brevity for which i strive, but i think most will understand the point i am trying to make
magicjoe - 25 Jan 2013 09:12 - 310 of 477
And here we come again
using my charts you are getting high % return
Using the "simpleton charts" you are getting 10% return a Year ( PFC )
as it happens I do explain before it happens not like some that it is allways after the share price has move up ( I bough yesterday I bought last week )
btw - I do not preach but teach ( you should know by now otherwise you would not use my systems ) LAM, BAO even in PFC, etc
using my charts you are getting high % return
Using the "simpleton charts" you are getting 10% return a Year ( PFC )
as it happens I do explain before it happens not like some that it is allways after the share price has move up ( I bough yesterday I bought last week )
btw - I do not preach but teach ( you should know by now otherwise you would not use my systems ) LAM, BAO even in PFC, etc
magicjoe - 25 Jan 2013 09:15 - 311 of 477
Share price does the talking
very strong for the last couple days on expectations of positive news very soon,
on the investment of the last couple years resulting on a higher JORC
;&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
very strong for the last couple days on expectations of positive news very soon,
on the investment of the last couple years resulting on a higher JORC
cynic
- 25 Jan 2013 09:32
- 312 of 477
(unlike you) i do not belittle let alone cast aspersions and personal abuse at those who follow their own path ..... indeed you are probably old enough to remember horace batchelor of keynsham and his pools punditry!
to put it very simply and as i often say, no one every went broke banking a profit ...... thus and as previously posted, i look at your pretty pix and comment which is usually interesting ..... and sometimes i agree and follow, either quickly or a little thereafter, and sometimes i ignore
hindsight is wonderful stuff and guaranteed to be absolutely accurate, but is assuredly no guarantee of what the future holds, whether for better or for worse
almost as an aside, it is somewhat curious that you abused me roundly (yet again) re my post 271, yet suddenly the content of that mysteriously gets mentioned on your latest ..... the more cynical among us may say that the reaction to post 271 was because the information did not come from your mouth which thus bruised your pride and ego
to put it very simply and as i often say, no one every went broke banking a profit ...... thus and as previously posted, i look at your pretty pix and comment which is usually interesting ..... and sometimes i agree and follow, either quickly or a little thereafter, and sometimes i ignore
hindsight is wonderful stuff and guaranteed to be absolutely accurate, but is assuredly no guarantee of what the future holds, whether for better or for worse
almost as an aside, it is somewhat curious that you abused me roundly (yet again) re my post 271, yet suddenly the content of that mysteriously gets mentioned on your latest ..... the more cynical among us may say that the reaction to post 271 was because the information did not come from your mouth which thus bruised your pride and ego
magicjoe - 25 Jan 2013 09:44 - 313 of 477
RE - no one every went broke banking a profit
I heard it all for the race you belong as easy as that
history is all over the place once again on you thoughts
===========
re - hindsight is wonderful stuff
It all comes to the word LIAR
and you belong to this category ...... cos you say it well after it happens ( better when the share price is well up - I cought you with examples several times)
I do say it at the time and give the reason for.
That is it as clear as the water from the RED sea
I heard it all for the race you belong as easy as that
history is all over the place once again on you thoughts
===========
re - hindsight is wonderful stuff
It all comes to the word LIAR
and you belong to this category ...... cos you say it well after it happens ( better when the share price is well up - I cought you with examples several times)
I do say it at the time and give the reason for.
That is it as clear as the water from the RED sea
cynic
- 25 Jan 2013 10:11
- 314 of 477
oh dear oh dear oh dear ...... is that a bullet hole i see in your foot?
magicjoe - 25 Jan 2013 10:21 - 315 of 477
BREAKOUT
the expected breakout is on the way and happening
the expected breakout is on the way and happening
magicjoe - 25 Jan 2013 10:29 - 316 of 477
re - is that a bullet hole i see in your foot?
I see the bullet hole is on your head and that is why you SHUT UP the bla, bla bla.
I see the bullet hole is on your head and that is why you SHUT UP the bla, bla bla.
magicjoe - 25 Jan 2013 12:03 - 317 of 477
As said before BAO is very volatile and as so has now spike again after the drop reaching a new high lately 27.50p
Usually it happens as WINS Market Maker goes into the bid on an agresive maner ( maybe is cos is the one on the online cheaper buying price ) so on turning the punters moves in at the same time
Usually it happens as WINS Market Maker goes into the bid on an agresive maner ( maybe is cos is the one on the online cheaper buying price ) so on turning the punters moves in at the same time
magicjoe - 25 Jan 2013 13:11 - 318 of 477
and go with the trend ( or breakout )
has now reached a new intrady high 28.25p and that is up 2.875p
has now reached a new intrady high 28.25p and that is up 2.875p
chuckles - 25 Jan 2013 13:12 - 319 of 477
Well magicpants, I'm making lots of paper profit here, like you I don't always post entry and exit levels. Come to think of it you NEVER post when you buy or sell, so for all we know youre full of crap. Insult away my foreign little immigrant but be careful you don't go too far.
magicjoe - 25 Jan 2013 13:40 - 320 of 477
chuckles
( pro - loves you ) but does not want to know you there
I wonder why?
Any one being Welsh is a foreigner on my books and on top full of s#it specialy after being with a RAM instead of the EWE ( you have really been at the wrong school in Snowdonia )
As you have noticed I am at my best on share selecting and putting DOGs like you on their place
Timing is the clue, not everyone has the touch of class
( pro - loves you ) but does not want to know you there
I wonder why?
Any one being Welsh is a foreigner on my books and on top full of s#it specialy after being with a RAM instead of the EWE ( you have really been at the wrong school in Snowdonia )
As you have noticed I am at my best on share selecting and putting DOGs like you on their place
Timing is the clue, not everyone has the touch of class
cynic
- 25 Jan 2013 13:46
- 321 of 477
Timing is the clue (quite so), not everyone has the touch of class (and as abundantly shown, MJ is in a class of his own thank goodness)
cynic
- 25 Jan 2013 13:57
- 322 of 477
hmm
magicjoe - 25 Jan 2013 14:14 - 323 of 477
29.50p + 3.125p
Baobab Resources CEO looks ahead to pre-feasibility and hopes for a strategic partner
it gives an inside of the company prospect
Video with CEo taking http://youtu.be/wtWQjnCn3Y4
Baobab Resources CEO looks ahead to pre-feasibility and hopes for a strategic partner
it gives an inside of the company prospect
Video with CEo taking http://youtu.be/wtWQjnCn3Y4
magicjoe - 25 Jan 2013 14:26 - 324 of 477
re - cynic - 25 Jan 2013 13:57 - 322 of 323
hmm
Only a STUPID person will be a LIAR and you are like the one who sold Jesus for 30 silver coins
My timming was on the 15th at 22p and 10 days later UP by .....30.11% and counting
I remember you have use it to sell PFC the last time, after my comment of 61.8% retracemnt on the way, and BAO now
You are LYING BARSTEWARD with posting a 2 year old chart.
JUDAS was too good comparing with you
hmm
Only a STUPID person will be a LIAR and you are like the one who sold Jesus for 30 silver coins
My timming was on the 15th at 22p and 10 days later UP by .....30.11% and counting
I remember you have use it to sell PFC the last time, after my comment of 61.8% retracemnt on the way, and BAO now
You are LYING BARSTEWARD with posting a 2 year old chart.
JUDAS was too good comparing with you
cynic
- 25 Jan 2013 14:56
- 325 of 477
silly billy ..... at least learn to read even if you can't learn basic manners ...... that is NOT a 2-year old chart, but a chart showing the share movement over the last 2 years ..... and nor should you be so arrogant and egotistic as to think every post is for your benefit
chuckles - 25 Jan 2013 15:02 - 326 of 477
Woof woof
Balerboy
- 25 Jan 2013 16:19
- 327 of 477
nearly hit 30p....... come on keep going.,.
magicjoe - 25 Jan 2013 16:22 - 328 of 477
Las time to buy below 30p!
magicjoe - 25 Jan 2013 16:24 - 329 of 477
do not pick and choose if a word is in the wrong place but answer properly, the ...hmm
or if I selected the shares at 22p to rise from there or 54p as you imply with the chart
Nastiness as usual
you think you are on the PM box, never answering the question but anything else
btw - i do not go through my typping most of the time ( so expect plenty of errors )
or if I selected the shares at 22p to rise from there or 54p as you imply with the chart
Nastiness as usual
you think you are on the PM box, never answering the question but anything else
btw - i do not go through my typping most of the time ( so expect plenty of errors )
cynic
- 25 Jan 2013 16:31
- 330 of 477
why "hmm"? ...... because i was trying to work out in my own mind where sp might stall, and i'm still not sure, though is suspect 30 might prove something of a hurdle
magicjoe - 25 Jan 2013 16:43 - 331 of 477
you will never find what are you saying on that chart, were ( I said it a dozen times by now) share price is very volatile and the chart show nothing but up and down like the intraday chart
re - 30p a barrier
well, shall I tell you I do NOT believe you
WHY?
At the time of the chart 1:57pm the price was 28.75p and moving lower and well away from the 30p
re - 30p a barrier
well, shall I tell you I do NOT believe you
WHY?
At the time of the chart 1:57pm the price was 28.75p and moving lower and well away from the 30p
cynic
- 25 Jan 2013 16:49
- 332 of 477
you really are a tosser at times (a great deal of the time actually) .... you absolutely cannot bear that either something was not YOUR idea/info (post 271) or that someone else might question your analysis or have their own thoughts as to where an sp might or might not go
to the best of my knowledge, sp never even hit 30 today and i posted that chart as much for my own interest and aide memoire as for others
to the best of my knowledge, sp never even hit 30 today and i posted that chart as much for my own interest and aide memoire as for others
chuckles - 25 Jan 2013 17:17 - 333 of 477
magicpants is very good at posting stuff like fib levels after the event, rarely see predictions before it happens. Pick a level any level, why does a stock retrace from fibs, will it be 38% or 68% or 100%? I know, I'll wait until it turns then post a chart demonstrating how clever I am.
Never do we see you back on a thread when you get it wrong, BLVN for eggsample. inverted hammer not quite doing it for you at the moment. never mind even the great and not so good get it wrong.
Now, where's that sheep?
Never do we see you back on a thread when you get it wrong, BLVN for eggsample. inverted hammer not quite doing it for you at the moment. never mind even the great and not so good get it wrong.
Now, where's that sheep?
cynic
- 25 Jan 2013 17:39
- 334 of 477
i don't think that's quite fair ..... a lot of his pix and comment are interesting and informative, and even if arguably post-event, the stock may continue to perform both short term and longer term - but you have to pick and choose
cynic
- 25 Jan 2013 17:40
- 335 of 477
i got more of his typical abuse on IFL though he was talking about BAO, to which i responded
BAO worked very well for me short-term, and hence the trigger for that barrow-load of abuse from you at the time (and incessantly since) ...... and since i bought back in (a trigger for yet more abuse), i am again running a handsome profit
===============
in fact, if you (chuckles) can be bothered, you may care to revert to the IFL thread and read from post 107 onwards
================
i suspect that the management may shortly terminate MJ, which in some ways would be a shame ...... however, as he is totally incapable of keeping a civil tongue in his head (so to speak), on balance i would personally rather he got a red card and a lifetime ban
BAO worked very well for me short-term, and hence the trigger for that barrow-load of abuse from you at the time (and incessantly since) ...... and since i bought back in (a trigger for yet more abuse), i am again running a handsome profit
===============
in fact, if you (chuckles) can be bothered, you may care to revert to the IFL thread and read from post 107 onwards
================
i suspect that the management may shortly terminate MJ, which in some ways would be a shame ...... however, as he is totally incapable of keeping a civil tongue in his head (so to speak), on balance i would personally rather he got a red card and a lifetime ban
chuckles - 25 Jan 2013 18:02 - 336 of 477
Don't doubt it Cynic, but the magicpants avatar has some serious personality disorders. One of which is I'm always right syndrome. Incdientally he posts as MRSI on ADVFN, some awful thread, he does not have many firends over there.
Always wonder if abusive numpties would be so abusive if abusing in person? I kinda doubt it.
Always wonder if abusive numpties would be so abusive if abusing in person? I kinda doubt it.
cynic
- 25 Jan 2013 18:16
- 337 of 477
oh yes, we all know that though he categorically denies he is that person ..... but the persona and posting style is unmistakable ..... as MRSI (he has other aliases too) he was thrown off here a couple of years back
by the way, if you want some facial abuse, just pay me a visit :-)
by the way, if you want some facial abuse, just pay me a visit :-)
blanche - 25 Jan 2013 22:27 - 338 of 477
Balerboy,
Happy days nearly got yer 30p. The dog wagged its tail 8-) I fully predict that you will be in profit next week.
Cynic,
This is both a short and a long term play. Short term with several nice pieces of news to come out very soon this rally still has a way to go. There's much more substance to this rally than the last time they got to 50p. Long term leaving three quarters of my holding here until they go into production 3- 4 years down the road. gl
P.s If they dont get bought out before.
Happy days nearly got yer 30p. The dog wagged its tail 8-) I fully predict that you will be in profit next week.
Cynic,
This is both a short and a long term play. Short term with several nice pieces of news to come out very soon this rally still has a way to go. There's much more substance to this rally than the last time they got to 50p. Long term leaving three quarters of my holding here until they go into production 3- 4 years down the road. gl
P.s If they dont get bought out before.
Balerboy
- 25 Jan 2013 22:30
- 339 of 477
Happy days indeed blanche, have a good weekend. Cyners .... open a good bottle of wine and chill.,.
cynic
- 26 Jan 2013 09:03
- 340 of 477
you're right BB ..... i felt good and acid yesterday evening and really got the bit between my teeth .... however, a very nice bottle of puligny montrachet 2008 sorted me out a treat!
=======================
blanche - i happily admit that i am only here for the momentum ride ..... even long term, i really do not think the odds are stacked in favour of BAO being anything other than a minnow with volatility when the lemmings get excited
in the immediate, unless there is (yet another) burst for glory, 30 may prove to be a considerable hurdle, but that is based purely on my "simpleton's chart" and gut feeling
=======================
blanche - i happily admit that i am only here for the momentum ride ..... even long term, i really do not think the odds are stacked in favour of BAO being anything other than a minnow with volatility when the lemmings get excited
in the immediate, unless there is (yet another) burst for glory, 30 may prove to be a considerable hurdle, but that is based purely on my "simpleton's chart" and gut feeling
mitzy - 27 Jan 2013 13:29 - 341 of 477
I missed this one.
cynic
- 27 Jan 2013 13:30
- 342 of 477
for sure i would not recommend getting on board at this stage .... it is and always was a very dodgy stock which happens to have caught the imagination of the lemmings
blanche - 27 Jan 2013 16:46 - 343 of 477
This is not a dodgy stock imo. If they don't get bought out they have potential to become the largest producer of pig iron in the world by 2020 imvho. dyor. gl
cynic
- 27 Jan 2013 16:48
- 344 of 477
we'll agree to differ then :-)
blanche - 27 Jan 2013 18:29 - 345 of 477
Nothing new there then !! lol
magicjoe - 27 Jan 2013 21:25 - 346 of 477
blanche
re - we'll agree to differ then
certainly nothing new, but the most you will get from those posting around is NOTHING on charting or fundamentals, as usual bla bla and bla is the best they can do.
re - dodgy stock
One wonders why are they here then, only companies with large profits for years are OK for them
re - we'll agree to differ then
certainly nothing new, but the most you will get from those posting around is NOTHING on charting or fundamentals, as usual bla bla and bla is the best they can do.
re - dodgy stock
One wonders why are they here then, only companies with large profits for years are OK for them
cynic
- 27 Jan 2013 22:07
- 347 of 477
as i wrote on post 340 ...... "blanche - i happily admit that i am only here for the momentum ride" ..... and nothing wrong in that ..... all the chart folderol is very pretty and all that, but actually i'm here to try to make money, and if i do so, then goody gumdrops and who cares the reason, and if not, then c'est la vie
magicjoe - 27 Jan 2013 23:07 - 348 of 477
Do i see someone changing the tune?
once again cos he has been cought with the trousers down and nothing to show.
show time 9 hours away
once again cos he has been cought with the trousers down and nothing to show.
show time 9 hours away
magicjoe - 27 Jan 2013 23:24 - 349 of 477
There is more than one liar about
now " chuckles " joins the party on that list, not only here but on the Football thread.........bias as usual
re - BLVN
two days and expecting someting for me to say ...... fool give it time
the world was made on seven days they say.
only you took a day to make, that is why they forgot to put a brain on that square head of yours
now " chuckles " joins the party on that list, not only here but on the Football thread.........bias as usual
re - BLVN
two days and expecting someting for me to say ...... fool give it time
the world was made on seven days they say.
only you took a day to make, that is why they forgot to put a brain on that square head of yours
magicjoe - 27 Jan 2013 23:52 - 350 of 477
Uptrend and BREAKOUT
magicjoe - 27 Jan 2013 23:55 - 351 of 477
London 22 January 2013 14:25
UK-listed Baobab Resources owns the only iron ore project in Mozambique’s booming coal region of Tete. Steel First met with md Ben James in Africa to discuss the challenges facing the project.
the Tete region boasts some of the world’s largest untapped resources of coking coal, an essential ingredient in the steelmaking process.
Tete’s coal riches have attracted many of the world’s largest miners to the region, including Vale, Anglo American and Rio Tinto.
For its part, Baobab plans to produce pig iron, vanadium and titanium from its Tenge/Ruoni project in the east of the province.
Focus on pig iron
The miner’s main focus is on becoming a major producer of pig iron, a refined steelmaking raw material which is priced at a considerable premium to iron ore.
Baobab estimates that it will be able to produce pig iron at $200 per tonne fob based on a production rate of 1 million tpy from its Tete project, to sell to the Chinese market.
After raising its JORC-compliant resource by 38% in December 2012 to 665 million tonnes, the miner plans to produce as much as 4 million tpy of pig iron, an upscaling of operations which could bring down production costs considerably.
These ambitious production plans would make Baobab the world’s largest pig iron producer, seeing it overtake pig iron-producers in the CIS countries and Latin America.
Investment
The World Bank’s private-sector arm, International Finance Corp (IFC), agreed to invest as much as $5 million in Alternative Investment Market-listed Baobab in 2009.
A definitive feasibility study is set for completion this year. Project financing would follow early in 2015, and construction would take about 24 months for completion at the end of 2016.
Baobab is now looking for a partner to bring the Tenge project into production.
Benefiting from its proximity to the Zambeze river’s hydroelectric power source and the Sena railway link, Baobab is confident that its Tenge project has the right fundamentals to attract a project partner.
Indian steelmaker Jindal, which has its own operational coking coal mine in Tete, is aiming to build an integrated steel plant in the region, Jindal country head Manoj Guta told Steel First in November 2012.
Mozambican miners have been badly affected by problems with infrastructure development, however.
Rio Tinto’s ceo and strategy head resigned from the mining major in the third week of January 2012, on a $3 billion impairment incurred by its Mozambique operations. The company’s chairman blamed this on infrastructure development being slower than expected.
UK-listed Baobab Resources owns the only iron ore project in Mozambique’s booming coal region of Tete. Steel First met with md Ben James in Africa to discuss the challenges facing the project.
the Tete region boasts some of the world’s largest untapped resources of coking coal, an essential ingredient in the steelmaking process.
Tete’s coal riches have attracted many of the world’s largest miners to the region, including Vale, Anglo American and Rio Tinto.
For its part, Baobab plans to produce pig iron, vanadium and titanium from its Tenge/Ruoni project in the east of the province.
Focus on pig iron
The miner’s main focus is on becoming a major producer of pig iron, a refined steelmaking raw material which is priced at a considerable premium to iron ore.
Baobab estimates that it will be able to produce pig iron at $200 per tonne fob based on a production rate of 1 million tpy from its Tete project, to sell to the Chinese market.
After raising its JORC-compliant resource by 38% in December 2012 to 665 million tonnes, the miner plans to produce as much as 4 million tpy of pig iron, an upscaling of operations which could bring down production costs considerably.
These ambitious production plans would make Baobab the world’s largest pig iron producer, seeing it overtake pig iron-producers in the CIS countries and Latin America.
Investment
The World Bank’s private-sector arm, International Finance Corp (IFC), agreed to invest as much as $5 million in Alternative Investment Market-listed Baobab in 2009.
A definitive feasibility study is set for completion this year. Project financing would follow early in 2015, and construction would take about 24 months for completion at the end of 2016.
Baobab is now looking for a partner to bring the Tenge project into production.
Benefiting from its proximity to the Zambeze river’s hydroelectric power source and the Sena railway link, Baobab is confident that its Tenge project has the right fundamentals to attract a project partner.
Indian steelmaker Jindal, which has its own operational coking coal mine in Tete, is aiming to build an integrated steel plant in the region, Jindal country head Manoj Guta told Steel First in November 2012.
Mozambican miners have been badly affected by problems with infrastructure development, however.
Rio Tinto’s ceo and strategy head resigned from the mining major in the third week of January 2012, on a $3 billion impairment incurred by its Mozambique operations. The company’s chairman blamed this on infrastructure development being slower than expected.
IanT(MoneyAM)
- 28 Jan 2013 06:37
- 352 of 477
Magic Joe,
We have received a number of complaints with regard to personal abuse in your postings - please consider this a final warning, should it continue, access will be removed.
Ian
We have received a number of complaints with regard to personal abuse in your postings - please consider this a final warning, should it continue, access will be removed.
Ian
cynic
- 28 Jan 2013 08:12
- 353 of 477
MJ - you're a complete ass ..... i can't be bothered to respond your your latest inaccurate abuse, even if it is total garbage .... as i have said before, just stick to your pretty pix and comment which are generally interesting and informative, even if not necessarily to be followed
blanche - 28 Jan 2013 08:29 - 354 of 477
Balerboy. You're in profit! Hold tight ways to go yet. 8-)
Balerboy
- 28 Jan 2013 08:52
- 355 of 477
I've cracked open a.........cup of tea in celebration.,.
cynic
- 28 Jan 2013 08:56
- 356 of 477
i am now watching very closely with a view to selling half or even all ..... it's tempting to be greedy, but we all know how dangerous that can be
Balerboy
- 28 Jan 2013 13:42
- 357 of 477
seems reluctant to move on up, have stop at 31p on 50%.,.
cynic
- 28 Jan 2013 13:58
- 358 of 477
i may be reading this wrong but this is an MM-only stock, of which there are 8 ...... 3 are bidding 31.75 and a further 3 are bidding 31.5 ..... i therefore wonder if they are just trying to force some stock onto the market
MJ may give a better read - if he can keep a civil tongue for once
MJ may give a better read - if he can keep a civil tongue for once
cynic
- 28 Jan 2013 14:50
- 360 of 477
going back to my "simpleton's chart" (post 322), 34p looks the next hurdle ...... of course, with this massive surge, there is always now going to be the very real danger of a dump
Balerboy
- 28 Jan 2013 15:04
- 361 of 477
know what you mean......i had one this morning.,.
chuckles - 28 Jan 2013 17:59 - 362 of 477
Sorry off topic for the benefit of the resident loon.
Hammers are generally reversal candlesticks and the one magicpants referred to on the BLVN chart was supposed to be an indication that the downtrend was coming to an end and a change to the share price fortunes could be expected.
But on it's own a hammer is meaningless, it needs further evidence, such as bullish candles immediately afterwards. The hammer on the BLVN chart was followed by a continuation of the downtrend and is now rendered invalid.
Not always silly.
Go bow wow :)
Hammers are generally reversal candlesticks and the one magicpants referred to on the BLVN chart was supposed to be an indication that the downtrend was coming to an end and a change to the share price fortunes could be expected.
But on it's own a hammer is meaningless, it needs further evidence, such as bullish candles immediately afterwards. The hammer on the BLVN chart was followed by a continuation of the downtrend and is now rendered invalid.
Not always silly.
Go bow wow :)
cynic
- 28 Jan 2013 18:12
- 363 of 477
go back to your carpentry you silly old fool before someone comes out to crucify you :-)
cynic
- 29 Jan 2013 08:35
- 364 of 477
out of half at 33.25, not least because i am en route to sunnier climes for the rest of the day
Balerboy
- 30 Jan 2013 08:07
- 365 of 477
out at small profit.,.
blanche - 30 Jan 2013 08:13 - 366 of 477
Not selling any just for the record. 8=)
Balerboy
- 30 Jan 2013 08:23
- 367 of 477
not that brave, gl blanche.,.
blanche - 30 Jan 2013 08:25 - 368 of 477
short term target for me is now end of Feb. based on rns today.
cynic
- 30 Jan 2013 13:21
- 369 of 477
has MJ been slung out or is he sulking or what?
Balerboy
- 30 Jan 2013 13:31
- 370 of 477
have you held or sold all?
cynic
- 30 Jan 2013 13:39
- 371 of 477
i've still got half running at a smallish profit ..... that's always the difficulty when travelling and especially when in a diff time zone
cynic
- 30 Jan 2013 13:39
- 372 of 477
i've still got half running at a smallish profit ..... that's always the difficulty when travelling and especially when in a diff time zone
Toya
- 30 Jan 2013 13:40
- 373 of 477
Ah cynic - you've landed then... on your feet?
cynic
- 30 Jan 2013 13:42
- 374 of 477
yesterday evening and been at meetings all day
Toya
- 30 Jan 2013 13:43
- 375 of 477
Working hard then :0
cynic
- 30 Jan 2013 18:32
- 376 of 477
sure am ...... just finished doing me e-mails for the day (2230)
Toya
- 30 Jan 2013 19:02
- 377 of 477
I hope that's not 2,230 emails cynic... no, just being silly
cynic
- 30 Jan 2013 19:16
- 378 of 477
oh not you Mistress T; surely you could never be silly
Toya
- 30 Jan 2013 19:56
- 379 of 477
:)
blanche - 31 Jan 2013 16:51 - 380 of 477
Glad I didn't sell any.More rises tomorrow. 8-)
Balerboy
- 31 Jan 2013 16:56
- 381 of 477
yes you've had a good day..... i didn't have the b***s...... no comment cynic;)
cynic
- 01 Feb 2013 08:13
- 382 of 477
have put in a stop at 33.5 which, if sp keeps moving up, so will my stop ..... really don't now care if i get stopped out and that proives "too early", which only hindsight will clarify
i owe Number2 Son an expensive dinner i think!
=================
and now stopped out
it was always my intent to sell before the news anyway, so i shall now sit back and watch ..... don't think i'm brave enough to short, though just may be persuaded later
i owe Number2 Son an expensive dinner i think!
=================
and now stopped out
it was always my intent to sell before the news anyway, so i shall now sit back and watch ..... don't think i'm brave enough to short, though just may be persuaded later
Balerboy
- 01 Feb 2013 08:39
- 383 of 477
i put my small profit in lonmin.....£1 up so far from my ave.,.
cynic
- 01 Feb 2013 16:09
- 384 of 477
have now shorted here at 34 with a stop at 40 and a limit at 25.25, as unfortunately i'll prob be in a meeting by the time the news comes out and/or market opens ...... however, there looks to be little or no buying interest, and any news on monday is surely going to have to be pretty amazing if hefty profit taking is not to ensue .... we shall see
cynic
- 04 Feb 2013 08:57
- 385 of 477
was expecting news today, but perhaps later ...... in any case, effectively no interest at all in this stock today
cynic
- 06 Feb 2013 08:27
- 386 of 477
many pages of abuse back (post 271), Number2 Son reckoned
"Meant to be 2 resource upgrades and release of pre-feasibility study for mining operation before a big industry event on 4th february"
now it may be that his info was a bit wonky, but if not, it should be of considerable concern that this update from BAO is now relatively significantly overdue ..... that never presages well, though i admit to being an interested party (short!)
sp currently drifting day by day, so a caveat is certainly in order after such a massive run north
"Meant to be 2 resource upgrades and release of pre-feasibility study for mining operation before a big industry event on 4th february"
now it may be that his info was a bit wonky, but if not, it should be of considerable concern that this update from BAO is now relatively significantly overdue ..... that never presages well, though i admit to being an interested party (short!)
sp currently drifting day by day, so a caveat is certainly in order after such a massive run north
blanche - 06 Feb 2013 10:00 - 387 of 477
Cynic, No specific dates were said. Just during Feb, So technically not overdue. Good time to close yer short. That's what the company is obviously waiting for. ;-)
cynic
- 13 Feb 2013 08:44
- 388 of 477
i note your useful comment blanche, but meanwhile interest in this stock has faded away and it continues to drift south ..... i am now nicely in money, and i may heed your advice to bank a(nother) nice profit, say before w/e .... certainly i need to remind myself that shares are for making money and that it is all too easy to blow profits, even with sensible stops in place
cynic
- 13 Feb 2013 09:06
- 389 of 477
i heeded your advice and obeyed my own discipline .... i can now watch and wait with total equanimity :-)
blanche - 13 Feb 2013 19:31 - 390 of 477
Gonna be another Sharp rise in the sp any day now. Don't miss out.
cynic
- 13 Feb 2013 19:41
- 391 of 477
perhaps .... i've certainly done well of late, purely riding the momentum
cynic
- 19 Feb 2013 08:16
- 392 of 477
a very unexciting update ..... am sorely tempted to short again
cynic
- 22 Feb 2013 13:04
- 393 of 477
and so i did, later that day at 28.75, though relatively modestly ..... yes, i know i kept that one quiet as i was unsure whether or not it was a smart move
Balerboy
- 22 Feb 2013 19:51
- 394 of 477
Good job magicjo not about.......... oh dear.,.
chuckles - 22 Feb 2013 19:54 - 395 of 477
did i miss the sharp rise?
dreamcatcher
- 22 Feb 2013 20:56
- 396 of 477
post 393 :-))
cynic
- 22 Feb 2013 21:11
- 397 of 477
i have no need .... i own up to mistakes, and assuredly this was not one - read 392
dreamcatcher
- 22 Feb 2013 21:37
- 398 of 477
I'm only joking but it could be read that you were thinking of shorting (post 392).
Then post (393) some three days later if you shorted later that day, your post states you indeed shorted . The day of this post the share happens to lets say crash after the three days before were fairly modest falls. It can be read this way, not that I am reading it that way. In other words not to be picked up about it, would be best would it not, to post ones actions not three days later?
Then post (393) some three days later if you shorted later that day, your post states you indeed shorted . The day of this post the share happens to lets say crash after the three days before were fairly modest falls. It can be read this way, not that I am reading it that way. In other words not to be picked up about it, would be best would it not, to post ones actions not three days later?
Balerboy
- 22 Feb 2013 22:53
- 399 of 477
Steady DC you'll start him off on one...... ;)
dreamcatcher
- 22 Feb 2013 23:04
- 400 of 477
Very fair what I have written . Put it another way - An oil company is a few days away from TD. I come on the thread and say I might come in on this one. Three days later no oil found, the share crashes. Then when I'm asked, I say no did not come in in the end.
Then the same again on another oil company near to TD. I write I may come in on this one. A few days later they announce millions barrels of oil found, the share races north. I then write on the thread I was in. How long can I do this before questions are asked. lol
Then the same again on another oil company near to TD. I write I may come in on this one. A few days later they announce millions barrels of oil found, the share races north. I then write on the thread I was in. How long can I do this before questions are asked. lol
cynic
- 23 Feb 2013 09:22
- 401 of 477
it's ok DC .... obviously a bit tetchy yesterday :-)
you're right, and it is very rare for me to post like that after the event, but i was just (too) pleased with myself for having made another correct call
you're right, and it is very rare for me to post like that after the event, but i was just (too) pleased with myself for having made another correct call
dreamcatcher
- 23 Feb 2013 12:09
- 402 of 477
Lets forget, fine with me. :-))
menorca1 - 26 Feb 2013 11:55 - 403 of 477
And talking about porkies, there was a few strange exchanges over here on the past
So if one wants to be taking seriously
-cynic - You better put your house in order, unless you want to be tested once again
After all past post questioning your trades seem very reasonable, as the reporting was after the movement has occurred to your benefit. People can put 2 & 2 together without having to go to high school.
best wishes
menorca1
magicjoe - 25 Jan 2013 09:44 - 313 of 402
re - hindsight is wonderful stuff
It all comes to the word LIAR
and you belong to this category ...... cos you say it well after it happens ( better when the share price is well up - I cought you with examples several times)
I do say it at the time and give the reason for.
That is it as clear as the water from the RED sea
edit more ............
cielo - 14 Feb 2011 10:54 - 67 of 409
BIG WANKER ( B~stard ) done it again below.... yesterday
every time a share price rise ..... bought yesterday, no honesty and decency is what you have not got, if you want to tell us you bought say it at the time otherwise keep it for yourself .....
cynic - 02 Feb 2011 10:56 - 60 of 66
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! .....
So if one wants to be taking seriously
-cynic - You better put your house in order, unless you want to be tested once again
After all past post questioning your trades seem very reasonable, as the reporting was after the movement has occurred to your benefit. People can put 2 & 2 together without having to go to high school.
best wishes
menorca1
magicjoe - 25 Jan 2013 09:44 - 313 of 402
re - hindsight is wonderful stuff
It all comes to the word LIAR
and you belong to this category ...... cos you say it well after it happens ( better when the share price is well up - I cought you with examples several times)
I do say it at the time and give the reason for.
That is it as clear as the water from the RED sea
edit more ............
cielo - 14 Feb 2011 10:54 - 67 of 409
BIG WANKER ( B~stard ) done it again below.... yesterday
every time a share price rise ..... bought yesterday, no honesty and decency is what you have not got, if you want to tell us you bought say it at the time otherwise keep it for yourself .....
cynic - 02 Feb 2011 10:56 - 60 of 66
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! .....
cynic
- 26 Feb 2013 12:01
- 404 of 477
i have no idea who menorca is, but of course if he had followed down, he would also have read my "mea culpa" that followed
cynic
- 26 Feb 2013 14:50
- 405 of 477
bugger! ..... just closed short position at a touch above b/e ..... could have bought back at 23.50 this morning (boo hoo) but for no obvious reason sp has been creeping up all day .... no obvious reason and not even huge volume, but not worth the risk of it all going pear-shaped
menorca1 - 26 Feb 2013 19:03 - 406 of 477
Mining Sector: Mwana Africa up after 30% rise in JORC gold resource
Shares in Mwana Africa (LON:MWA) rose after it revealed its JORC-compliant gold resource had increased to 2.6Moz, up 30% from January.
The calculation was based on a cut-off grade of 0.5 g/t, and included a maiden resource of 442,903 oz at the Lelumodi discovery.
At the Zani-Kodo project, the main indicated gold resource had increased 22% to 547,838 oz. There, the main inferred gold resources rose 8% to 1,023,292 oz, at an average grade of 3.51 g/t
"Metallurgical test work and preliminary mine design studies continue in parallel with ongoing drilling to define additional mineral resource at Lelumodi and the Kodo area," the company said.
The sector's biggest risers were Baobab Resources (LON:BAO) and Noventa (LON:NVTA) - up by more than 18% and over 12% respectively.
The biggest fallers were Landore Resourvces (LON:LND), Bischi Mining (LON:BISI) and GMA Resources (LON:GMA) - all down by more than 8% in late afternoon trading.
BAO 29.38 +5.75
Shares in Mwana Africa (LON:MWA) rose after it revealed its JORC-compliant gold resource had increased to 2.6Moz, up 30% from January.
The calculation was based on a cut-off grade of 0.5 g/t, and included a maiden resource of 442,903 oz at the Lelumodi discovery.
At the Zani-Kodo project, the main indicated gold resource had increased 22% to 547,838 oz. There, the main inferred gold resources rose 8% to 1,023,292 oz, at an average grade of 3.51 g/t
"Metallurgical test work and preliminary mine design studies continue in parallel with ongoing drilling to define additional mineral resource at Lelumodi and the Kodo area," the company said.
The sector's biggest risers were Baobab Resources (LON:BAO) and Noventa (LON:NVTA) - up by more than 18% and over 12% respectively.
The biggest fallers were Landore Resourvces (LON:LND), Bischi Mining (LON:BISI) and GMA Resources (LON:GMA) - all down by more than 8% in late afternoon trading.
BAO 29.38 +5.75
tom wilson - 26 Feb 2013 21:19 - 407 of 477
Cashed Up And Building Resources: Baobab Is Now On The Cusp Of Delivering Proof Of Concept At The Tete Pig Iron Project
26th Feb
http://www.directorstalk.com/cashed-up-and-building-resources-baobab-is-now-on-the-cusp-of-delivering-proof-of-concept-at-the-tete-pig-iron-project/
26th Feb
http://www.directorstalk.com/cashed-up-and-building-resources-baobab-is-now-on-the-cusp-of-delivering-proof-of-concept-at-the-tete-pig-iron-project/
menorca1 - 26 Feb 2013 23:10 - 408 of 477
Yesterday's from Proactiveinvestors >>>>>>>>>>>>
Baobab Resources sees all routes pointing forward in Mozambique
Mon 1:46 pm by Jamie Ashcroft
For some investors the jury is out on Mozambique’s promising Tete mining hub in light of Rio Tinto’s $3bn coal write-off there.
The write-off sent shockwaves across the African mining sector at a time when there are serious questions about the industry’s appetite for major growth projects.
According to Baobab (LON:BAO) chief Ben James, though, there have since been positive signs in Mozambique that the situation is improving.
Since Rio’s action - at the end of January - the region has seen significant developments.
Brazilian mining major Vale this month confirmed that a new railway link capable of carrying 30mln tonnes each year would go ahead.
Around 12mln tonnes of that capacity would potentially be available for third parties including companies like Baobab.
“The Rio write down was something of a reality check for the government,” James said.
“There is a possible fairytale opportunity here for Mozambique, but it will only come off with a lot of elbow grease and with everybody working shoulder to shoulder.
“So we now seeing the government, rather than taking a backseat, actually taking a much more proactive approach. And that’s wonderful news for companies like ours.
“The government is much more ready to pick up the phone, reach agreements and broker meetings.
“And that is also true of the majors, both Vale and Rio, too. They are being very co-operative with the juniors. We are showing that we can all work together to develop and define infrastructure solutions.”
Baobab is in the midst of the important feasibility and mine planning stage. After finding over 700mln tonnes of iron ore in the Tete province it now has to confirm if and how a mine can be built.
Crucially it must also secure a viable export route to take its end product to market.
James explains that a number of options are open to the company and it is continuing talks to secure allocation on one or both of the two key railway lines currently in development.
He says the company won’t be putting all its eggs in one basket and it is pursuing these opportunities through both the public and private sector.
“We’ve been talking with Vale for a long time and that route really looks like it is going to go ahead now.”
In fact, he says he'll soon be visiting the new rail spur construction in Malawi – where 2,000 men are building the railway through to Tete.
“The project is definitely happening. And there will be plenty of third party allocation on that railway line once it is commissioned.”
“What we are also seeing now is a very clear commitment from the international community, particularly the Japanese, for co-funding the east-west rail corridor.
“All of these things are in play."
Meanwhile, James also points to positive signs that the expansion and refurbishment of the Sena rail line is well underway.
Fellow AIM-firm Beacon Hill recently secured an allocation on this line, which connects the Tete province to the Port of Beira, at the mouth of the Pungue river on Mozambique's coast.
"We would expect to see the railway handling up to 6mln tonnes per annum very soon, and it will continue expanding from there on.”
“For us, the route through to the Port of Beira would present an ideal solution for our exports because of both the distance to the coast and the fact that we won't be constrained there unlike the coal miners.
“We would require Handymax sized vessels, which are operating very efficiently at the port at the moment. So while Beira is not an ideal port for the coal players, it is ideal for Baobab.”
James explains that Baobab has always had strong support from the Mozambique government and this is, in part, because the company plans will see additional industry being developed in the region.
Through intermediate smelting at the ‘mine gate’ it plans to add value to the ore it mines, processing it into pig iron.
“The government has been keen to endorse and support these plans.”
This pig iron operation can become one of the largest of its kind in the world, with the potential to produce up to 4mln tonnes of ‘pig’ iron each year over a 35 year life.
Currently the largest producer is a Russian operation that yields around 2.5mln tonnes a year.
The process requires significant volumes of coal, which in itself presents an opportunity given the region’s vast coal fields and its currently limited scope for exports.
Both Vale and Rio are keen to talk to Baobab about the coal requirements, according to James.
“Their thermal coal can’t be commercially exported at present. It is simply not viable for them. So it is just building up in stockpiles at the moment.
“We will need coal. We can take some of it off their hands. So we’re in the process of opening discussions about possible off-take arrangements and we are confident of getting very competitive mine gate rates for that coal.”
The development plans are now coming together with the fully funded prefeasibility study drawing to a close.
Last week, Baobab revealed the latest in a series of resource upgrades that have seen the Tete project’s resource base grow massively from to over 700mln tonnes from 160mln tonnes in the summer of 2011.
It has also made a bold step in kicking off a drilling programme and work on other ‘time critical’ elements for the definitive feasibility study.
This decision was made as the mine developer became sufficiently confident in the outcome of the ongoing pre-feasibility work.
From a financing point of view Baobab is in a strong position as it moves the project forward, James says.
The prefeasibility is fully funded and so is the ‘front end’ of the bankable work.
And in the meantime, wheels are now in motion on a process to select a strategic partner to help bring the project through commissioning and into production.
Baobab Resources sees all routes pointing forward in Mozambique
Mon 1:46 pm by Jamie Ashcroft
For some investors the jury is out on Mozambique’s promising Tete mining hub in light of Rio Tinto’s $3bn coal write-off there.
The write-off sent shockwaves across the African mining sector at a time when there are serious questions about the industry’s appetite for major growth projects.
According to Baobab (LON:BAO) chief Ben James, though, there have since been positive signs in Mozambique that the situation is improving.
Since Rio’s action - at the end of January - the region has seen significant developments.
Brazilian mining major Vale this month confirmed that a new railway link capable of carrying 30mln tonnes each year would go ahead.
Around 12mln tonnes of that capacity would potentially be available for third parties including companies like Baobab.
“The Rio write down was something of a reality check for the government,” James said.
“There is a possible fairytale opportunity here for Mozambique, but it will only come off with a lot of elbow grease and with everybody working shoulder to shoulder.
“So we now seeing the government, rather than taking a backseat, actually taking a much more proactive approach. And that’s wonderful news for companies like ours.
“The government is much more ready to pick up the phone, reach agreements and broker meetings.
“And that is also true of the majors, both Vale and Rio, too. They are being very co-operative with the juniors. We are showing that we can all work together to develop and define infrastructure solutions.”
Baobab is in the midst of the important feasibility and mine planning stage. After finding over 700mln tonnes of iron ore in the Tete province it now has to confirm if and how a mine can be built.
Crucially it must also secure a viable export route to take its end product to market.
James explains that a number of options are open to the company and it is continuing talks to secure allocation on one or both of the two key railway lines currently in development.
He says the company won’t be putting all its eggs in one basket and it is pursuing these opportunities through both the public and private sector.
“We’ve been talking with Vale for a long time and that route really looks like it is going to go ahead now.”
In fact, he says he'll soon be visiting the new rail spur construction in Malawi – where 2,000 men are building the railway through to Tete.
“The project is definitely happening. And there will be plenty of third party allocation on that railway line once it is commissioned.”
“What we are also seeing now is a very clear commitment from the international community, particularly the Japanese, for co-funding the east-west rail corridor.
“All of these things are in play."
Meanwhile, James also points to positive signs that the expansion and refurbishment of the Sena rail line is well underway.
Fellow AIM-firm Beacon Hill recently secured an allocation on this line, which connects the Tete province to the Port of Beira, at the mouth of the Pungue river on Mozambique's coast.
"We would expect to see the railway handling up to 6mln tonnes per annum very soon, and it will continue expanding from there on.”
“For us, the route through to the Port of Beira would present an ideal solution for our exports because of both the distance to the coast and the fact that we won't be constrained there unlike the coal miners.
“We would require Handymax sized vessels, which are operating very efficiently at the port at the moment. So while Beira is not an ideal port for the coal players, it is ideal for Baobab.”
James explains that Baobab has always had strong support from the Mozambique government and this is, in part, because the company plans will see additional industry being developed in the region.
Through intermediate smelting at the ‘mine gate’ it plans to add value to the ore it mines, processing it into pig iron.
“The government has been keen to endorse and support these plans.”
This pig iron operation can become one of the largest of its kind in the world, with the potential to produce up to 4mln tonnes of ‘pig’ iron each year over a 35 year life.
Currently the largest producer is a Russian operation that yields around 2.5mln tonnes a year.
The process requires significant volumes of coal, which in itself presents an opportunity given the region’s vast coal fields and its currently limited scope for exports.
Both Vale and Rio are keen to talk to Baobab about the coal requirements, according to James.
“Their thermal coal can’t be commercially exported at present. It is simply not viable for them. So it is just building up in stockpiles at the moment.
“We will need coal. We can take some of it off their hands. So we’re in the process of opening discussions about possible off-take arrangements and we are confident of getting very competitive mine gate rates for that coal.”
The development plans are now coming together with the fully funded prefeasibility study drawing to a close.
Last week, Baobab revealed the latest in a series of resource upgrades that have seen the Tete project’s resource base grow massively from to over 700mln tonnes from 160mln tonnes in the summer of 2011.
It has also made a bold step in kicking off a drilling programme and work on other ‘time critical’ elements for the definitive feasibility study.
This decision was made as the mine developer became sufficiently confident in the outcome of the ongoing pre-feasibility work.
From a financing point of view Baobab is in a strong position as it moves the project forward, James says.
The prefeasibility is fully funded and so is the ‘front end’ of the bankable work.
And in the meantime, wheels are now in motion on a process to select a strategic partner to help bring the project through commissioning and into production.
cynic
- 27 Feb 2013 08:18
- 409 of 477
possibly something strange afoot .... though there is no published news, sp is again strong this morning with volume approaching 1.5m already
menorca1 - 04 Mar 2013 09:02 - 410 of 477
BAOBAB RESOURCES PLC
PYRO-METALLURGICAL TESTWORK PRODUCES LOW IMPURITY PIG IRON
4 MARCH 2013
Baobab Resources Plc ("Baobab" or the "Company") the iron ore, base and precious metals explorer with a portfolio of exploration projects in Mozambique, is pleased to present the results of pyro-metallurgical test work at its 85% owned Tete pig iron, vanadium and titanium project (the "Tete Project") in which International Finance Corporation ('IFC') hold a 15% participatory interest.
HIGHLIGHTS
-- Bench-scale pyro-metallurgical test work has confirmed the ability to produce a
low impurity pig iron product using Baobab's iron ore and local Mozambique
thermal coal.
-- The reduction and smelting test work has been conducted using coarse
concentrates derived from the Tenge resource block at the Commonwealth
Scientific and Industrial Research Organisation (CSIRO) laboratories in
Australia.
-- Reduction test work using a rotary kiln simulator has returned very promising
results with in excess of 70% metallisation being achieved after a short
residence time using locally sourced thermal coal as a reductive agent.
-- Samples from the rotary kiln experiments were inductively smelted in a crucible
to produce a clean disc of pig iron reporting 97% Fe (at 1.8% C) and containing a
very low level of titanium of 0.002%.
Commenting today, Ben James, Baobab's Managing Director, said: 'the results of the pyro-metallurgical test work mark a major milestone for the project. Two critical questions have been answered: will local thermal coals work in the reduction process and will the titanium separate from the iron when smelted? In both cases the answer is a resounding yes. We now possess very clear physical and empirical evidence to support the Company's conviction that we can exploit the project's unique access to low cost thermal coal at the licence boundary together with Baobab's iron ore to produce a high quality / low impurity pig iron at the bottom of the cost curve.'
PYRO-METALLURGICAL TESTWORK PRODUCES LOW IMPURITY PIG IRON
4 MARCH 2013
Baobab Resources Plc ("Baobab" or the "Company") the iron ore, base and precious metals explorer with a portfolio of exploration projects in Mozambique, is pleased to present the results of pyro-metallurgical test work at its 85% owned Tete pig iron, vanadium and titanium project (the "Tete Project") in which International Finance Corporation ('IFC') hold a 15% participatory interest.
HIGHLIGHTS
-- Bench-scale pyro-metallurgical test work has confirmed the ability to produce a
low impurity pig iron product using Baobab's iron ore and local Mozambique
thermal coal.
-- The reduction and smelting test work has been conducted using coarse
concentrates derived from the Tenge resource block at the Commonwealth
Scientific and Industrial Research Organisation (CSIRO) laboratories in
Australia.
-- Reduction test work using a rotary kiln simulator has returned very promising
results with in excess of 70% metallisation being achieved after a short
residence time using locally sourced thermal coal as a reductive agent.
-- Samples from the rotary kiln experiments were inductively smelted in a crucible
to produce a clean disc of pig iron reporting 97% Fe (at 1.8% C) and containing a
very low level of titanium of 0.002%.
Commenting today, Ben James, Baobab's Managing Director, said: 'the results of the pyro-metallurgical test work mark a major milestone for the project. Two critical questions have been answered: will local thermal coals work in the reduction process and will the titanium separate from the iron when smelted? In both cases the answer is a resounding yes. We now possess very clear physical and empirical evidence to support the Company's conviction that we can exploit the project's unique access to low cost thermal coal at the licence boundary together with Baobab's iron ore to produce a high quality / low impurity pig iron at the bottom of the cost curve.'
cynic
- 04 Mar 2013 11:22
- 411 of 477
market is not particularly excited by the news .... that said, it's a pretty soggy market, and to have any stock showing blue today is no mean feat
blanche - 05 Mar 2013 07:30 - 412 of 477
Cynic, Steady you almost sound as if you are beginning to believe. 8-)
Balerboy
- 05 Mar 2013 08:16
- 413 of 477
he's in the red here.......
menorca1 - 07 Mar 2013 10:41 - 414 of 477
On the bounce after a 61.8% retracement from the last rise
and a 50% retracement on todays intraday price
and a 50% retracement on todays intraday price
menorca1 - 07 Mar 2013 10:53 - 415 of 477
for the record
cynic
- 07 Mar 2013 11:15
- 416 of 477
BB - out of these entirely a week or two back
rekirkham
- 07 Mar 2013 11:28
- 417 of 477
Cynic
I do not blame you to be out. I never saw any virtue in this one from the start.
I suggest you stay out for you own health.
Cloudy in Benidorm today, but was sunny yesterday down by the promenade.
I think Benidorm must reflect the Stock Market just now.
Should be warmer next week I am advised
Bob
I do not blame you to be out. I never saw any virtue in this one from the start.
I suggest you stay out for you own health.
Cloudy in Benidorm today, but was sunny yesterday down by the promenade.
I think Benidorm must reflect the Stock Market just now.
Should be warmer next week I am advised
Bob
Balerboy
- 07 Mar 2013 14:20
- 418 of 477
out with a profit me...... clever clogs.,.
menorca1 - 07 Mar 2013 15:32 - 419 of 477
good for you
How much did you sell it for?
How much did you sell it for?
menorca1 - 26 Mar 2013 17:48 - 420 of 477
Some have not noticed BAO was on the turn this morning
The Fibonacci retracement was at work this morning as the MMs make sure the share price was marked down to that point and then up again.
naturally followers did help the share price move up fast again
another intraday 50% was triggered once again and so on this afternoon, but the share price finished well up on the day.
I made the chart this morning but kept it from posting here till the share price is well up and someone nasty around this side was not getting my "TIP" at the early stage.
others did got it this morning at other places.
The Fibonacci retracement was at work this morning as the MMs make sure the share price was marked down to that point and then up again.
naturally followers did help the share price move up fast again
another intraday 50% was triggered once again and so on this afternoon, but the share price finished well up on the day.
I made the chart this morning but kept it from posting here till the share price is well up and someone nasty around this side was not getting my "TIP" at the early stage.
others did got it this morning at other places.
menorca1 - 26 Mar 2013 17:59 - 421 of 477
From my thread ......
50% intraday fibonacci retracement at 23.125p and UP she goes
High of the day 24.625p
Low of day 21.375p
50 % fibonacci 23.125p
50% intraday fibonacci retracement at 23.125p and UP she goes
High of the day 24.625p
Low of day 21.375p
50 % fibonacci 23.125p
Balerboy
- 26 Mar 2013 20:02
- 422 of 477
wow.,.
rekirkham
- 28 Mar 2013 11:59
- 423 of 477
Wow - down 3.75p today 21.75 / 22.00 or 14.63%
Where to tomorrow ?
Is this for pure gamblers or investors ?
Where to tomorrow ?
Is this for pure gamblers or investors ?
cynic
- 28 Mar 2013 12:23
- 424 of 477
gambling and/or momentum trading only
js8106455 - 02 Apr 2013 10:48 - 425 of 477
Interview with Ben James, MD of Baobab - Tete pre-feasibility study return positive result
Click here to listen
Click here to listen
Morigam - 19 Apr 2013 09:37 - 426 of 477
js8106455 - 19 Apr 2013 09:52 - 427 of 477
Cheers Morigam, I'm going to listen to the panel discussion. Good find!
londongo - 25 Apr 2013 10:48 - 428 of 477
Looking like it wants to turn today, there was support at 12.25p were MMs were happy to marked down early morning
mentor - 29 Apr 2013 15:32 - 429 of 477
londongo
You might be right about the support at 12.25p, a big move up today, the stock has been shorted lately, so as is moving higher - buyers - shorters are closing also a double action.
You might be right about the support at 12.25p, a big move up today, the stock has been shorted lately, so as is moving higher - buyers - shorters are closing also a double action.
mentor - 30 Apr 2013 12:26 - 430 of 477
Keeps well on the movement up as signs of downtrend is over now over 20p
js8106455 - 01 May 2013 09:33 - 431 of 477
mentor - 01 May 2013 12:01 - 432 of 477
bouncing back after early profit taking, does not need much to turn around
niceonecyril - 05 Aug 2013 09:15 - 433 of 477
“As from today, AIM listed shares are allowed in ISAs. We have searched AIM listed companies and identified the two stocks which, we believe, have the most potential to increase their market capitalisation 15-20 fold within three years.
Both stocks have huge resources, over 6 billion tons of coal and nearly 1 billion tons of iron ore, but tiny market capitalisations £7m and £36m.
The first stock is priced at 1.2p and has analyst price targets of between 16p and 25p (a potential rise of between 1233% and 1983%)
The second stock is priced at 12.5p and has analyst price targets up to 221p (a potential rise of up to 1668%)
Both stocks have cash in the bank and impressive strategic partners – the first stock has CNOOC as a partner (one of China’s largest oil companies) and strong support from the Australian Government; the second stock has IFC (International Finance Corporation) as a 15% shareholder, strong support from the Government of Mozambique, and is likely to announce a major JV deal with a global integrated steel company (e.g. Jindal, Posco and Nippon).
Strong newsflow is expected from both companies over the coming months which will help trigger and sustain substantial share price re-ratings.
The companies are Altona Energy (ANR) and Baobab Resources (BAO)
Further information and analyst reports:
www.altonaenergy.com
www.baobabresources.com ”
ontheturn - 07 Aug 2013 12:31 - 435 of 477
The large marked down this morning is an opportunity for this recovery stock
cynic
- 07 Aug 2013 12:49
- 436 of 477
only for mugs!
ontheturn - 07 Aug 2013 13:50 - 437 of 477
Someone does't know how to make money
12.75p to 13.50p already
12.75p to 13.50p already
cynic
- 07 Aug 2013 14:53
- 438 of 477
i've made plenty here in the past and banked the profit .... and then watched the muppets who hung on, chuck it all down the drain
since you're such a smartypants, why don't you mention that the spread is 1p (and sometimes more), so your 0.75p rise about which you chortle is pretty much a waste of space
since you're such a smartypants, why don't you mention that the spread is 1p (and sometimes more), so your 0.75p rise about which you chortle is pretty much a waste of space
ontheturn - 07 Aug 2013 15:21 - 439 of 477
Someone is calling investors " muppets "
the threads I have looked on the past, you sound like the BIGGEST idiot in this place as I said above not knowing how to make money.
just retoric like a "cynic" using this place as a way to make coversation ( lonely soul ) my take
the threads I have looked on the past, you sound like the BIGGEST idiot in this place as I said above not knowing how to make money.
just retoric like a "cynic" using this place as a way to make coversation ( lonely soul ) my take
ontheturn - 08 Aug 2013 10:34 - 440 of 477
Chinese imports of fe ore jumps 7% in July
Share price rise accordingly - marked up - but then some investors take profits at this point
Share price rise accordingly - marked up - but then some investors take profits at this point
cynic
- 08 Aug 2013 12:47
- 441 of 477
is that so
ontheturn - 13 Aug 2013 13:38 - 442 of 477
On a day of volume, the rise is on for good reason
On the charting front
an Inverted HEAD an SHOULDERS is developing
getting closer to the 50 days MA
;&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
On the charting front
an Inverted HEAD an SHOULDERS is developing
getting closer to the 50 days MA
ontheturn - 13 Aug 2013 16:06 - 443 of 477
Now just touching the 50 days MA on share price being at 14.375p
mentor - 13 Aug 2013 23:43 - 444 of 477
Singapore (Platts)-- 12 August 2013
Chinese buying spree pushes Asian spot metallurgical coal prices to 3-month high
Strong buying interest in China over the extended weekend pushed Asian spot metallurgical coal prices substantially higher Monday, as hard coking coals traded $3-4/mt higher than Wednesday last week, market sources reported.
On an FOB Australia basis, Platts assessed premium low-vol (PLV) HCC $3.50 higher at $140.50/mt, the highest since mid-May, and second-tier HCC normalized to HCC 64 Mid Vol specifications $3 higher at $127/mt. On a CFR China basis, PLV was assessed at $153/mt, and HCC 64 Mid Vol at $139.50/mt.
Spot transactions concluded over the last few days illustrated a continued bullish turn in market conditions, particularly in China.
Headline deals included an Australian premium low-vol HCC reported done last week very close to $155/mt CFR China for part of a Capesize vessel loading in early September, and a very prompt low-vol PCI at around $125/mt CFR north China, also part of a Capesize.
Chinese buying spree pushes Asian spot metallurgical coal prices to 3-month high
Strong buying interest in China over the extended weekend pushed Asian spot metallurgical coal prices substantially higher Monday, as hard coking coals traded $3-4/mt higher than Wednesday last week, market sources reported.
On an FOB Australia basis, Platts assessed premium low-vol (PLV) HCC $3.50 higher at $140.50/mt, the highest since mid-May, and second-tier HCC normalized to HCC 64 Mid Vol specifications $3 higher at $127/mt. On a CFR China basis, PLV was assessed at $153/mt, and HCC 64 Mid Vol at $139.50/mt.
Spot transactions concluded over the last few days illustrated a continued bullish turn in market conditions, particularly in China.
Headline deals included an Australian premium low-vol HCC reported done last week very close to $155/mt CFR China for part of a Capesize vessel loading in early September, and a very prompt low-vol PCI at around $125/mt CFR north China, also part of a Capesize.
mentor - 14 Aug 2013 00:03 - 445 of 477
Good call - ontheturn -
back from a break and looking pretty good as hard coal prices are at a 3 month high
back from a break and looking pretty good as hard coal prices are at a 3 month high
cynic
- 20 Aug 2013 08:56
- 446 of 477
a truly wonderful call by that great promoting pundit on here ..... sp has now dropped back to 13 mid .... no wonder he's kept so quiet
panto - 20 Aug 2013 10:00 - 447 of 477
Shares go up and down, almost as fast as someones Knickers
Market has been down for a few days now does not help FTSE lower by 50 points
Is cynic allways so cynic, or is a sour grapes person?
Market has been down for a few days now does not help FTSE lower by 50 points
Is cynic allways so cynic, or is a sour grapes person?
cynic
- 20 Aug 2013 10:07
- 448 of 477
certainly not sour grapes .... i made my money from these ages ago and got out .... cynical if you like, but perhaps realistic would be closer
panto - 20 Aug 2013 10:50 - 449 of 477
More info on RNS
http://www.itnews.it/news/2013/0820090003770/baobab-resources-limited-lon-bao-joint-venture-heads-of-agreement-with-auroch-minerals-asx-aou.html
--------
Well it looks like they are working to plan, they said many months ago that they are just going to focus on Tenge and it looks bit by bit that they are moving off all the little extras
http://www.itnews.it/news/2013/0820090003770/baobab-resources-limited-lon-bao-joint-venture-heads-of-agreement-with-auroch-minerals-asx-aou.html
--------
Well it looks like they are working to plan, they said many months ago that they are just going to focus on Tenge and it looks bit by bit that they are moving off all the little extras
panto - 20 Aug 2013 12:05 - 450 of 477
JOINT VENTURE HEADS OF AGREEMENT WITH AUROCH MINERALS
20 AUGUST 2013
Baobab Resources Limited (BAO: AIM) ('Baobab' or the 'Company') through its wholly owned Mozambique subsidiary Capitol Resources Limitada ('Capitol') is pleased to announce that it has signed a Joint Venture Heads of Agreement ('JV' or 'HOA') with Australian exploration company Auroch Minerals NL (ASX: AOU) ('Auroch' or 'AOU') in relation to the northern portion of the Company's Mundongaura Exploration Licence 1022L (the 'Area of Interest' or 'JV Area') in the Manica Province, Mozambique. The HOA is conditional upon Auroch completing due diligence before 30 Sept 2013.
HIGHLIGHTS
-- The Area of Interest encompasses the northern 18km(2) of Baobab's 145km(2) 1022L Exploration Licence and overlies the along strike structural continuations of Auroch's 3Moz Manica Gold Project (3990C Mining Concession).
-- The Area of Interest excludes the Mundonguara copper/gold/nickel trend where exploration programmes completed by the Company during the 2007 and 2008 field seasons culminated in the estimation of an open ended 3.1Mt JORC inferred resource @ 1.4% Cu.
-- Auroch is earning into the Area of Interest via an unincorporated Joint Venture Agreement. The HOA has a four year, two-stage investment structure:
-- 2-stage investment of up to US$1,500,000 to earn a maximum 80% interest in the JV Area. -- After completion of the second stage work programme Auroch has the option to purchase Boabab's 20% interest in the JV Area on terms mutually agreeable to both parties. Alternatively, Baobab may participate in further work programmes on a pro-rata basis.
Commenting today, Ben James, Baobab's Managing Director, said: 'The JV with Auroch opens up an exciting opportunity for both companies to realise the greater gold potential of the highly prospective, yet under-explored Manica Greenstone belt. The pedigree of Auroch's management team is impressive, with demonstrated experience and success in developing precious metal assets in southern Africa.
'Baobab retains exclusive control of the Mundonguara copper/gold/nickel trend where it has focused its exploration efforts to date. The Company is considering a number of funding alternatives to add further value in this exciting corner of Mozambique.'
20 AUGUST 2013
Baobab Resources Limited (BAO: AIM) ('Baobab' or the 'Company') through its wholly owned Mozambique subsidiary Capitol Resources Limitada ('Capitol') is pleased to announce that it has signed a Joint Venture Heads of Agreement ('JV' or 'HOA') with Australian exploration company Auroch Minerals NL (ASX: AOU) ('Auroch' or 'AOU') in relation to the northern portion of the Company's Mundongaura Exploration Licence 1022L (the 'Area of Interest' or 'JV Area') in the Manica Province, Mozambique. The HOA is conditional upon Auroch completing due diligence before 30 Sept 2013.
HIGHLIGHTS
-- The Area of Interest encompasses the northern 18km(2) of Baobab's 145km(2) 1022L Exploration Licence and overlies the along strike structural continuations of Auroch's 3Moz Manica Gold Project (3990C Mining Concession).
-- The Area of Interest excludes the Mundonguara copper/gold/nickel trend where exploration programmes completed by the Company during the 2007 and 2008 field seasons culminated in the estimation of an open ended 3.1Mt JORC inferred resource @ 1.4% Cu.
-- Auroch is earning into the Area of Interest via an unincorporated Joint Venture Agreement. The HOA has a four year, two-stage investment structure:
-- 2-stage investment of up to US$1,500,000 to earn a maximum 80% interest in the JV Area. -- After completion of the second stage work programme Auroch has the option to purchase Boabab's 20% interest in the JV Area on terms mutually agreeable to both parties. Alternatively, Baobab may participate in further work programmes on a pro-rata basis.
Commenting today, Ben James, Baobab's Managing Director, said: 'The JV with Auroch opens up an exciting opportunity for both companies to realise the greater gold potential of the highly prospective, yet under-explored Manica Greenstone belt. The pedigree of Auroch's management team is impressive, with demonstrated experience and success in developing precious metal assets in southern Africa.
'Baobab retains exclusive control of the Mundonguara copper/gold/nickel trend where it has focused its exploration efforts to date. The Company is considering a number of funding alternatives to add further value in this exciting corner of Mozambique.'
rekirkham
- 20 Aug 2013 17:28
- 451 of 477
Refer to my post number 423 when it was 22p a share -
I TOLD YOU IT WAS FOR GAMBLERS and TO GET OUT
I hope to be more right than wrong and that small difference makes my profits.
If you are really after profit, not just excitement, be very cautious.
I would still wait for BAO to start earning some actual profits rather than expectations.
comments ?????
I TOLD YOU IT WAS FOR GAMBLERS and TO GET OUT
I hope to be more right than wrong and that small difference makes my profits.
If you are really after profit, not just excitement, be very cautious.
I would still wait for BAO to start earning some actual profits rather than expectations.
comments ?????
cynic
- 20 Aug 2013 18:18
- 452 of 477
thoroughly agree with you (see also my posts from feb '13) ...... this share is for the likes of the muppets who buy into FTO and CRA (which at least has a little more chance)
Morigam - 21 Aug 2013 09:08 - 453 of 477
this refers more to panto's post... it's an interview with the managing director on the Auroch deal webcast
panto - 21 Aug 2013 11:00 - 454 of 477
Talk is cheap from the ones above, one should give credit to investors who know when to buy and sell
BUY low and SELL high
nothing goes into a strait line
If trend is broken sell at that stage
put a stop loss
etc.
I never sold at the top, but because I already sold before
now I accumulate at this low prices
and I am sure many investors will make money from here
I done this before and history will repeat again is my motto
BUY low and SELL high
nothing goes into a strait line
If trend is broken sell at that stage
put a stop loss
etc.
I never sold at the top, but because I already sold before
now I accumulate at this low prices
and I am sure many investors will make money from here
I done this before and history will repeat again is my motto
cynic
- 21 Aug 2013 17:45
- 455 of 477
go back to january/february and i think even a purblind you (ewe?) will note that i knew very well when to buy and sell ..... so what do you have to say for yourself in that respect?
halifax - 21 Aug 2013 19:15 - 456 of 477
cynic is this your stalker (MRSI)? at it again?
cynic
- 21 Aug 2013 19:31
- 457 of 477
no idea and not really fussed anyway .... as you know, this site and similar, are rife with people in rose-tinted specs who do nothing but get excited about stocks, and with never a hint of a reality check
ontheturn - 23 Aug 2013 10:20 - 458 of 477
very volatile but holding above that 13p by now support as buyers place orders at those levels
ontheturn - 23 Aug 2013 10:26 - 459 of 477
read the last post with a funny feeling
Yesterday there was a post saying >>>>>>>
Who are you calling a stooge?
The cap fits for " cynic and halifax " something like father and son, allways together
Investors should do their research and buy at the right time and price, what those two say allways take it with a " pinch of salt " would be my advise.
Yesterday there was a post saying >>>>>>>
Who are you calling a stooge?
The cap fits for " cynic and halifax " something like father and son, allways together
Investors should do their research and buy at the right time and price, what those two say allways take it with a " pinch of salt " would be my advise.
cynic
- 23 Aug 2013 10:39
- 460 of 477
or just ride the momentum or avoid entirely!
yesterday i see no post from anyone
yesterday i see no post from anyone
panto - 23 Aug 2013 14:44 - 461 of 477
They say - too much salt is not good for your health -
I'm using a bit more of peper instead
thanks for the advise
I'm using a bit more of peper instead
thanks for the advise
ontheturn - 03 Sep 2013 13:43 - 462 of 477
13.625p +1p
Director Deals - Baobab Resources PLC (BAO)
Jeremy Dowler, Chairman, bought 75,000 shares in the company on the 30th August 2013 at a price of 13.38p.
The Director now holds 8,740,169 shares.
Director Deals - Baobab Resources PLC (BAO)
Jeremy Dowler, Chairman, bought 75,000 shares in the company on the 30th August 2013 at a price of 13.38p.
The Director now holds 8,740,169 shares.
ontheturn - 02 Oct 2013 10:41 - 463 of 477
Some movement up after being lower at the start, it has not been higher for some time.
Indicators rising give an idea of wanting to move higher
&IND=SlowSTO(8,3,3);&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
Indicators rising give an idea of wanting to move higher
ontheturn - 03 Oct 2013 10:04 - 464 of 477
two further tick ups this morning, with some larger size buyers now appearing
5 days chart
5 days chart
ontheturn - 03 Oct 2013 13:01 - 465 of 477
Not any longer able to buy at 13.42p, now paying 13.64p
a good move up today
a good move up today
ontheturn - 04 Oct 2013 13:52 - 466 of 477
another day another move up, a 50K buy did the job this time, a large spread now but the prices paid are usually just above middle price
ontheturn - 04 Oct 2013 16:02 - 467 of 477
and keeps moving higher, the recent movement up has good fundamentals it seems
ontheturn - 11 Oct 2013 10:52 - 468 of 477
Today is on the move again 14.25p +1.25p after the recent pause
on the charting from the MACD has gone positive on crossing up the 0 line
NEWS placing at 15p
Baobab Resources secures additional capital
Baobab Resources has announced a capital raising at a 15.4% premium to its closing share price last night.
The company and an African Minerals Exploration & Development Fund executed a placement agreement which can potentially finance the company's work programme.
The Fund currently holds 26.73% of the company's voting rights through its wholly owned Redbird Investments.
Jeremy Dowler, Baobab's chairman, said: "The company is very pleased to receive such a firm show of support from its principal shareholder in what is a challenging market. Not only is the placing at a significant 15% premium, but also signals the Fund's strong belief in the company's immediate and longer term prospects.
"The first tranches of funding enable Baobab to accelerate key components of the bankable feasibility study this year, which will address and mitigate areas of perceived risk and optimise flow sheets. Looking forward, the proposed structure will also provide a mechanism to underwrite the remaining work programme, ensuring a premium to any future transactions. Baobab's board of directors therefore unanimously recommend the terms of the placement to shareholders."
on the charting from the MACD has gone positive on crossing up the 0 line
NEWS placing at 15p
Baobab Resources secures additional capital
Baobab Resources has announced a capital raising at a 15.4% premium to its closing share price last night.
The company and an African Minerals Exploration & Development Fund executed a placement agreement which can potentially finance the company's work programme.
The Fund currently holds 26.73% of the company's voting rights through its wholly owned Redbird Investments.
Jeremy Dowler, Baobab's chairman, said: "The company is very pleased to receive such a firm show of support from its principal shareholder in what is a challenging market. Not only is the placing at a significant 15% premium, but also signals the Fund's strong belief in the company's immediate and longer term prospects.
"The first tranches of funding enable Baobab to accelerate key components of the bankable feasibility study this year, which will address and mitigate areas of perceived risk and optimise flow sheets. Looking forward, the proposed structure will also provide a mechanism to underwrite the remaining work programme, ensuring a premium to any future transactions. Baobab's board of directors therefore unanimously recommend the terms of the placement to shareholders."
ontheturn - 11 Oct 2013 11:01 - 469 of 477
PLACEMENT AGREEMENT SUMMARY
§ Redbird to subscribe immediately for 5,000,000 ordinary shares of 1 pence each ('Ordinary Shares') in the Company (the 'Placing Shares') at a price of 15 pence, raising £750,000 before expenses (the 'Placing'), and increasing its relevant interest in the Company to 27.93% of the Company's total voting rights.
§ Redbird to be granted one option to subscribe for an additional share at an exercise price of 20 pence for each Placing Share, expiring at 5.00pm on 30 June 2016 (the 'Placing Options'). On the discretionary exercising of the Placing Options, a further £1,000,000 will be raised.
§ The Company will conditionally place with Redbird, subject to shareholder and regulatory approval, a further 8,500,000 Ordinary Shares in the Company (the 'Conditional Placing Shares') at a price of 15 pence per share to raise a further £1,275,000 before expenses (the 'Conditional Placing').
§ Redbird to subscribe immediately for 5,000,000 ordinary shares of 1 pence each ('Ordinary Shares') in the Company (the 'Placing Shares') at a price of 15 pence, raising £750,000 before expenses (the 'Placing'), and increasing its relevant interest in the Company to 27.93% of the Company's total voting rights.
§ Redbird to be granted one option to subscribe for an additional share at an exercise price of 20 pence for each Placing Share, expiring at 5.00pm on 30 June 2016 (the 'Placing Options'). On the discretionary exercising of the Placing Options, a further £1,000,000 will be raised.
§ The Company will conditionally place with Redbird, subject to shareholder and regulatory approval, a further 8,500,000 Ordinary Shares in the Company (the 'Conditional Placing Shares') at a price of 15 pence per share to raise a further £1,275,000 before expenses (the 'Conditional Placing').
ontheturn - 14 Oct 2013 14:23 - 470 of 477
Is going places today as the share price has BREAKOUT from Neckline @14p
http://www.proactiveinvestors.co.uk/companies/news/62125/baobabs-investment-from-major-shareholder-underlines-attractiveness-of-tete-says-shore-62125.html
http://www.proactiveinvestors.co.uk/companies/news/62125/baobabs-investment-from-major-shareholder-underlines-attractiveness-of-tete-says-shore-62125.html
ontheturn - 14 Oct 2013 14:35 - 471 of 477
Volume has been growing this morning and again this afternoon as the share price is reaching new highs lately
;&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
ontheturn - 15 Oct 2013 09:12 - 472 of 477
Another good push forward to 16.75p this morning as volume is high after 1 hour trading
Morigam - 15 Oct 2013 15:04 - 473 of 477
sounds like they're doing it right - the MD talks about their latest RNS interview
ontheturn - 16 Oct 2013 13:43 - 474 of 477
Some parts of Brokers Shore update
Tete DFS is essentially fully funded
Baobab had good news last week (11th October 2013): it is to place 13.5m
shares with its largest shareholder African Minerals Exploration &
Development (AMED) to raise £2.0m (gross), i.e. 15p/share – a 15.4%
premium to the previous day’s closing price. AMED will be granted 13.5m
options with a 20p strike, the exercise of which would raise a further £2.7m.
AMED will also receive a further 27m options whose strike will be 105% of
the five-day volume-weighted average price (VWAP) prior to exercise (at
20p, for illustration, their exercise could generate a further £5.4m). In our
view, AMED’s willingness to invest at the above prices underlines the
attractiveness of Baobab’s 85%-owned flagship Tete Project in Mozambique.
Investing in junior explorer-developers is by nature relatively high risk but
we continue to believe Baobab offers a more robust, lower-risk investment
with the prospect of better potential returns than typical of its peers.
Three tranches: Initially, AMED will receive 5m shares (plus 5m options), giving
it a 27.93% interest (previously 26.73%) in Baobab‟s resulting 306.8m of issued
shares. A second tranche of 8.5m shares and 8.5m options, and a third tranche
comprising the 27m VWAP options, are conditional on shareholder and regulatory
approval. These latter tranches could take AMED‟s interest above the 30% mark,
and a Takeover Panel waiver would be required to avoid AMED having to make a
general offer for all the outstanding shares it does not own.
DFS funded: Assuming all the requisite approvals are received, we believe that
the monies raised from the shares issued should be sufficient to complete what
we regard as a „bare-bones‟ Definitive Feasibility Study (DFS) on the Tete
Project. Option exercise should provide funds for additional work. Work currently
planned includes pilot plant metallurgical testwork on a bulk sample, a 3,000m
drilling programme designed to upgrade sufficient resources to Measured status
to support the first 25 years‟ mining, completion of environmental studies and
Memorandums of Understanding (MoU) for power, rail and port allocation, and a
detailed study on power generation options.
Significant potential for upside as Baobab derisks: For modelling purposes,
we have assumed that all the above shares are issued and options exercised in
H1 FY2014. For the third-tranche options, we have conservatively modelled a 15p
strike, i.e. the same price as the placing shares. The total monies raised and
overall fully diluted shares are similar to those in our last published assumptions
(19th June 2013). Consequently, our Tete Project attributable NPV10% range falls
only slightly, to 54-219p/share fully diluted (previously 55-221p/share). It should
be borne in mind that this makes no provisions for the potential for further volume
or mine life expansion, the possibility of upgrading titania slag to produce highervalue
by-products (which requires investigation), Baobab‟s various other assets in
Mozambique, or that the Tete Project is being progressively derisked.
Models updated
We have updated our Baobab models to reflect developments since our last published note
(19th June 2013). Principally, the changes comprise the replacement of our previous funding
assumptions (the raising at 17p/share of £3.5m in FY2014 and £5.5m in FY2015) with:
● The three tranches of AMED funding. As mentioned, we have assumed the issue of all
shares and exercise of all options in these tranches in H1 FY2014. For the thirdtranche
options, we have conservatively modelled a 15p/share strike, the same price
as the placing shares but lower than the 20p/share strike for the tranche 1 and 2
options. As a result, £8.7m is raised and issued shares rises by 54m.
● A drawdown of £0.1m from the £17m Equity Line Facility, in which there remains
£13.7m of headroom.
It should also be noted that the IFC made a pro rata contribution of US$1.0m to DFS
expenses in August 2013. We expect the IFC to continue to make further pro rated
contributions as the DFS progresses.
We have updated our models to reflect developments since our last published note
The IFC contributes pro rata (15%) to Tete Project funding
Conclusions: undervalued; significant upside potential
Baobab‟s current share price is far below our conservative Tete Project 1-2Mtpa attributable
NPV10% valuation range of 54-219p/share fully diluted. This is despite the fact that our
valuation makes no provision for further volume and/or mine life expansion potential, the
possibility of upgrading titania slag to produce higher-value by-products (which requires
investigation), or Baobab‟s various other assets in Mozambique. There is thus clearly
significant upside potential to our valuation.
We believe that Baobab‟s current share price represents an enticing low-cost entry
opportunity. We expect significant share price appreciation as Baobab advances towards
production and thereby becomes progressively derisked, and its compelling pig iron story
becomes more widely recognised.
There is significant upside potential to our Tete Project valuation of 54-219p/share
We conclude that Baobab‟s current share price represents an enticinglow-cost
entry opportunity into a highly compelling story
hxxp://baobabresources.com/files/ShoreCap_Baobab_20131016.pdf
Tete DFS is essentially fully funded
Baobab had good news last week (11th October 2013): it is to place 13.5m
shares with its largest shareholder African Minerals Exploration &
Development (AMED) to raise £2.0m (gross), i.e. 15p/share – a 15.4%
premium to the previous day’s closing price. AMED will be granted 13.5m
options with a 20p strike, the exercise of which would raise a further £2.7m.
AMED will also receive a further 27m options whose strike will be 105% of
the five-day volume-weighted average price (VWAP) prior to exercise (at
20p, for illustration, their exercise could generate a further £5.4m). In our
view, AMED’s willingness to invest at the above prices underlines the
attractiveness of Baobab’s 85%-owned flagship Tete Project in Mozambique.
Investing in junior explorer-developers is by nature relatively high risk but
we continue to believe Baobab offers a more robust, lower-risk investment
with the prospect of better potential returns than typical of its peers.
Three tranches: Initially, AMED will receive 5m shares (plus 5m options), giving
it a 27.93% interest (previously 26.73%) in Baobab‟s resulting 306.8m of issued
shares. A second tranche of 8.5m shares and 8.5m options, and a third tranche
comprising the 27m VWAP options, are conditional on shareholder and regulatory
approval. These latter tranches could take AMED‟s interest above the 30% mark,
and a Takeover Panel waiver would be required to avoid AMED having to make a
general offer for all the outstanding shares it does not own.
DFS funded: Assuming all the requisite approvals are received, we believe that
the monies raised from the shares issued should be sufficient to complete what
we regard as a „bare-bones‟ Definitive Feasibility Study (DFS) on the Tete
Project. Option exercise should provide funds for additional work. Work currently
planned includes pilot plant metallurgical testwork on a bulk sample, a 3,000m
drilling programme designed to upgrade sufficient resources to Measured status
to support the first 25 years‟ mining, completion of environmental studies and
Memorandums of Understanding (MoU) for power, rail and port allocation, and a
detailed study on power generation options.
Significant potential for upside as Baobab derisks: For modelling purposes,
we have assumed that all the above shares are issued and options exercised in
H1 FY2014. For the third-tranche options, we have conservatively modelled a 15p
strike, i.e. the same price as the placing shares. The total monies raised and
overall fully diluted shares are similar to those in our last published assumptions
(19th June 2013). Consequently, our Tete Project attributable NPV10% range falls
only slightly, to 54-219p/share fully diluted (previously 55-221p/share). It should
be borne in mind that this makes no provisions for the potential for further volume
or mine life expansion, the possibility of upgrading titania slag to produce highervalue
by-products (which requires investigation), Baobab‟s various other assets in
Mozambique, or that the Tete Project is being progressively derisked.
Models updated
We have updated our Baobab models to reflect developments since our last published note
(19th June 2013). Principally, the changes comprise the replacement of our previous funding
assumptions (the raising at 17p/share of £3.5m in FY2014 and £5.5m in FY2015) with:
● The three tranches of AMED funding. As mentioned, we have assumed the issue of all
shares and exercise of all options in these tranches in H1 FY2014. For the thirdtranche
options, we have conservatively modelled a 15p/share strike, the same price
as the placing shares but lower than the 20p/share strike for the tranche 1 and 2
options. As a result, £8.7m is raised and issued shares rises by 54m.
● A drawdown of £0.1m from the £17m Equity Line Facility, in which there remains
£13.7m of headroom.
It should also be noted that the IFC made a pro rata contribution of US$1.0m to DFS
expenses in August 2013. We expect the IFC to continue to make further pro rated
contributions as the DFS progresses.
We have updated our models to reflect developments since our last published note
The IFC contributes pro rata (15%) to Tete Project funding
Conclusions: undervalued; significant upside potential
Baobab‟s current share price is far below our conservative Tete Project 1-2Mtpa attributable
NPV10% valuation range of 54-219p/share fully diluted. This is despite the fact that our
valuation makes no provision for further volume and/or mine life expansion potential, the
possibility of upgrading titania slag to produce higher-value by-products (which requires
investigation), or Baobab‟s various other assets in Mozambique. There is thus clearly
significant upside potential to our valuation.
We believe that Baobab‟s current share price represents an enticing low-cost entry
opportunity. We expect significant share price appreciation as Baobab advances towards
production and thereby becomes progressively derisked, and its compelling pig iron story
becomes more widely recognised.
There is significant upside potential to our Tete Project valuation of 54-219p/share
We conclude that Baobab‟s current share price represents an enticinglow-cost
entry opportunity into a highly compelling story
hxxp://baobabresources.com/files/ShoreCap_Baobab_20131016.pdf
js8106455 - 09 Dec 2013 12:25 - 475 of 477
kayha - 13 Feb 2014 11:18 - 476 of 477
LISTEN: Ben James, Managing Director of Baobab Resources, discusses the initial Tenge drill results at the company's Tete pig iron project in Mozambique
Click here to listen
Click here to listen
rekirkham
- 27 Jul 2015 10:05
- 477 of 477
I advised getting out of this in August 2013 as Mocambique iron costly to get to market, and now global glut of the stuff - arn't I clever ?
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