the following is paraphrased from Shares Mag - 5/11/09 page 38
http://www.londonmining.co.uk

LOND joined AIM on 6/11/09 and already holds $230m cash.
That said, its future projects will require serious swathes of further cash, even with relevant gov'ts putting hands in their own pockets.

Sierra Leone will be first project to come on stream in mid/late 2011, all being well ..... Expect regular updates during 2010
Saudi feasibility study expected by end 2009, but likely to be another very significant project ..... funding will be required (about $1bn), but targetted to start production in 2013
Greenland has the largest prospective asset, with production scheduled for 2014 ..... difficulty here will be the extreme weather conditions as deposit is close to Arctic Circle
China - although the CEO reckons this as the true prize (blending several small sites into one), this is all very much up in the air at time of writing.

'Global warming' should work in their favour - help to reduce the ice cap around the Arctic Circle! (not sure I'm in favour of that though).
And 'the true prize' in China? - can you trust this Cynic??

don't need to at this juncture as it's all a bit airy-fairy stuff at the moment .... let me know if you get the e-mail i've just sent on gmail .... attachments total 8mb i think

Message received - many thanks :)

HELL!! is it that big cynic......

for Toya and i to know ..... you've no chance of finding out for yourself as you're a bleedin' hermit

Cynic - what are you doing up so late??

trying to keep this important thread on track and serious .... failing that, flitting between the boxing on the pc and The Full Monty on the box

I'll let you get back to being seriously serious - and will watch with interest to see how the first week of trading on AIM unfolds here.

Proactiveinvestors.com have written an up top date article and analysis.

To read, please click here

Thanks for the info Andy

Your not my sort anyway cynic...... have a nice day...love

Up another 4% today.

having taken some profits in RIO and shall possibly do likewise tomorrow with POG, i shall be seriously considering reinvesting that money here

tried to buy CFDs with IG, but they are not yet covering it .... i think from a risk point of view, they want to let it ride for a few weeks and then re-assess

meanwhile
4 MMs covering with EMS looking to be 5000 shares, so not hugely liquid, but not horrid either.
50m free-shares in the market (i think), which is not a huge number

if i was buying straight stock, i think this is worth a modest flutter, but on a bad day, sp may fall back significantly as "early birds" cash in .... may be best to wait until then

New article, click HERE

New article, click HERE

London Mining PLC forms bullish "Megaphone Bottom" chart pattern
Oct 21, 2013

Recognia has detected a "Megaphone Bottom" chart pattern formed on London Mining PLC (LOND:LSE). This bullish signal indicates that the stock price may rise from the close of 134.50 to the range of 168.00 - 177.00. The pattern formed over 141 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The recent broadening action tells us that trading has been out of control, but a breakout on the upside suggests we're starting a more decisive uptrend. With its broadening price swings, the Megaphone represents a market that's unstable and out of control. It typically consists of two successively higher highs between three lower lows, and the reversal signal occurs when the price breaks up above the second peak (the highest high) as a sign of a more decisive bullish move.

Questor share tip: London Mining doubles output


http://www.telegraph.co.uk/finance/markets/questor/10434822/Questor-share-tip-London-Mining-doubles-output.html
on Mining doubles output
The Aim listed iron ore miner with operations in Sierra Leone is rapidly increasing production, says Questor.

By John Ficenec, Questor Editor

6:00AM GMT 08 Nov 2013

London Mining
136½p-5¾
Questor says BUY

LONDON Mining produces iron ore from its Marampa mine in Sierra Leone and plans to steadily increase production are on target, the company said yesterday.

The mining group reported third-quarter iron ore production of 948,000 wet metric tonnes (wmt). That is more than twice the iron ore production during the same period last year and almost the same as the company produced during the whole of last year.

Management said they were on target to produce between 3.6m to 3.9m wmt for the year ended December, up from sales of 1.3m wmt last year. The company expects to increase to production to 5.4m wmt next year.

The company also said that its cost base remains stable at about $47 per wmt to produce the iron ore. With the production and costs guidance now in place, the important element is for how much the company can sell its product.
Related Articles

The pricing of iron ore in the global commodities market has stabilised for now. Iron ore prices have settled at about $130 (£81) per tonne, after hitting a three-year low in September of last year. The company said that it has received prices of $93 per tonne during the third quarter. China, which many feared was heading for a sharp slowdown in its economy, has reported resilient growth. China received 65pc of all global iron ore shipments and concerns about a slowdown in steel output have so far proved unfounded.

The mining company is developing two other iron ore mines, in Saudi Arabia and Greenland. It also has a coking coal operation in Colombia, so all of its output focuses on the feedstocks for steel.

The company made a loss of $27.2m in its last full year, ended December 2012. However, as production rapidly increases in Sierra Leone, profits are improving. At the half-year stage, the company reported a $10.2m profit from operations, up from a loss of $5.6m during the same stage last year. The turnaround is due to the tripling of earnings from sales at the Marampa mine.

The company has also carried out a study on the Marampa mine which revealed that it can produce at a rate of 6m tonnes of iron ore at an average cost of about $40 per wmt for the next 40 years.

London Mining shares have fallen 5pc since Questor picked them as a tip of the year in January. The company still represents a high-risk pure play on the price of iron ore. However, the shares trade at a discount to net assets at 141p per share and with production on track. Buy.

well worth a look for sure with world economies recovering

Iron Ore Rallying as Cargoes to China Reach Record: Commodities
By Phoebe Sedgman - Nov 12, 2013 12:12 PM GMT

Iron ore is extending a bull market on record sales to China that are spurring forecasters from Morgan Stanley to the World Bank to increase price predictions.

Shipments from Australia’s Port Hedland, the biggest iron-ore export terminal, to China jumped 43 percent to a record last month, port data show. The Asian nation already imported the most ore ever in September, according to customs data. Standard Bank Group Ltd. and the Bureau of Resources and Energy Economics, Australia’s state forecaster, also increased price estimates in the past several weeks.

Haul trucks operate in the pit at Rio Tinto Group's West Angelas iron ore mine in Pilbara, Australia. Photographer: Ian Waldie/Bloomberg
IRC Chairman Sees `Strong Market' for Iron Ore
4:57

Oct. 16 (Bloomberg) -- Jay Hambro, chairman of Hong Kong-based IRC Ltd., an iron ore miner in Russia’s Far East, talks about the company's business outlook and demand for iron ore. He speaks with Rishaad Salamat on Bloomberg Television's "On the Move." (Source: Bloomberg)

Prices reached a two-month high in China last week after data showed Asia’s largest economy accelerated. While supply expansions led by Australian producers will push the seaborne market into surplus next year for the first time since 2010, it won’t happen until the second half, said Joel Crane, an analyst at Morgan Stanley. Iron ore is the biggest source of revenue for Rio Tinto Group, BHP Billiton Ltd. and Vale SA and the largest seaborne commodity cargo after crude oil.

“It’s coming, just not yet,” said Melbourne-based Crane. “There’s more demand than supply and there will continue to be more demand than supply into next year. Then, as Rio and BHP ramp up and Vale gets its first net expansion in a year, then you should start to see supply growth maintain the pace of demand growth.”
China’s Economy

Ore at China’s Tianjin port reached $137.10 a metric ton on Nov. 6, the most since Sept. 5, after rallying from a seven-month low in May. The commodity used to make steel entered a bull market in July as China’s economy snapped a two-quarter slowdown, paring the ore’s drop this year to 6.2 percent. The Standard & Poor’s GSCI gauge of 24 raw materials, which doesn’t include iron ore, declined 4.9 percent.

Supply in the seaborne market will fall 25 million tons short of demand in the first half of 2014, before a 49 million-ton surplus emerges in the final six months, Morgan Stanley estimates. Prices will average $130 in the first quarter and $120 in the second, from earlier estimates of $125 and $117, the bank said in a report last month.

Trade in iron ore will expand 7.1 percent to a record 1.27 billion tons next year, according to Clarkson Plc, the world’s biggest shipbroker. China’s imports will advance 9.5 percent to 865 million tons, the fastest growth in three years, the London-based company estimates.
Economist Forecasts

China’s economy expanded more than fivefold in the past decade, adding almost $7 trillion to gross domestic product. While the expansion may slow to 7.4 percent in 2014 from 7.6 percent this year, that’s almost three times the expected pace of U.S. growth, economist forecasts compiled by Bloomberg show.

Goldman Sachs Group Inc. expects the global glut to emerge in the second quarter and reiterated last month its forecast for a 2014 average of $108, or 21 percent less than now. HSBC Holdings Plc predicts an average of $115 in 2014 and Ric Deverell, the head of commodities research at Credit Suisse Group AG, told a conference in London on Oct. 8 that he recommended betting on a decline.

Prices may average $115 next year, the least since 2009, according to the median of 11 analyst estimates compiled by Bloomberg. Surging output in Australia, the biggest exporter, will swell the global surplus to 154 million tons, from 24 million tons in 2013, according to UBS AG. HSBC forecasts a glut of 45 million tons and Deutsche Bank AG 75 million tons.
Western Australia

China imported 67.83 million tons of ore in October, customs data show. While that’s less than the all-time high of 74.58 million tons reached in September, it was 20 percent more than a year earlier. Shipments this month and next are likely to be “very high,” Erik Nikolai Stavseth, an analyst at Arctic Securities ASA in Oslo, wrote in a report Nov. 8.

Rio, based in London, plans to expand output in Australia’s Pilbara region to 360 million tons from 290 million tons. Fortescue Metals Group Ltd. (FMG), based in Perth, is tripling its capacity in the Pilbara to 155 million tons. The first ore from Melbourne-based BHP’s Jimblebar expansion in Western Australia arrived six months early.

Australian shipments may rise 17 percent to a record 669 million tons next year, the Canberra-based Bureau of Resources and Energy Economics says.

“At least in Australia, things are going according to expectations, if not a bit better,” said Christian Lelong, an analyst at Goldman Sachs in Sydney. “The oversupply should start to become evident from the second quarter onwards. We expect the structural decline in prices to start next year but to really get going from the second quarter.”
Industrial Metals

Vale (VALE5), the largest producer, said last month it’s getting ready to start the $3.5 billion Carajas expansion project, adding 40 million tons of capacity. The Rio de Janeiro-based company plans to increase overall production capacity by 50 percent to 450 million tons by 2018.

Chinese buyers will take greater control of pricing over the next two years as global supply increases, according to former Noble Group Ltd. Vice Chairman Harry Banga, who’s traded the ore for almost 20 years. Prices will decline to $95 to $110 a ton, said Banga, who in May started The Caravel Group Ltd., which aims to trade 15 million tons in its first year.

Any slump in prices may spur higher-cost Chinese mines to reduce supply, curbing the decline, said Justin Smirk, a senior economist at Westpac Banking Corp. in Sydney and the second-most-accurate industrial metals forecaster tracked by Bloomberg over the past eight quarters. More than half of Chinese output costs $95 to $100 a ton to produce, Deutsche Bank estimates.
China Stockpiles

Stockpiles in China were 74.4 million tons on Nov. 8, from 85.1 million tons a year earlier, according to Beijing Antaike Development Co., a state-backed research company. Steel futures in Shanghai advanced 8.5 percent from a nine-month low in June.

Steel production in China rose 13 percent in September from a year earlier, the Brussels-based World Steel Association says. Global demand for the alloy will probably expand 3.3 percent to 1.523 billion tons in 2014, from 3.1 percent this year, the association forecast last month.

Australia’s Bureau of Resources raised its 2014 price forecast to $119 last month, up from $112 in June, citing Chinese demand. The Washington-based World Bank said in a report last month that ore will average $135 next year, up from a July prediction of $125. Standard Bank expects prices to average $122 next year, 14 percent more than previously forecast.

Australian shipments of iron ore and associated products were valued at $56.7 billion last year, more than twice as much as in 2009 and 22 percent of total goods exported, according to ITC TradeMap, a venture between the World Trade Organization and the United Nations. Brazilian cargoes were valued at $31 billion, or 13 percent of the country’s total, the data show.

“This wall of iron ore may not produce the collapse in prices that people expect,” said Westpac’s Smirk. “The combination of cheap ore on the global market, continuing growth in supply and the more recent lift in Chinese ore supply is about to create a correction. But when prices fall, the Chinese miners who are marginal will respond and cut production.”

To contact the reporter on this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net