Better carry on here Cynic....not in yet but very interesting....how's that bridge across to China getting on ?

hold - yes ..... buy - no

Don,t forget,that the Russian stock market has fallen from 2,400 to 600 in the past few months ,so some recovery is on the cards.They are now in the 800 area I believe.

dont forget ore net cash value is 19p share

This is too fragile to hold, it has drop back.

Oh great! Thanks hlyeo. Now that you are shorting it, back to 5p we go! ;o)

Dont think it will go to 5p,i would think more than 20p could be the fairer value,its been another roller coster of a day.

Considering that the share rose by 133% !! yesterday ,todays pullback of 14% (2 points) is hardly unexpected.
I reckon their is distance to go here,especially in view of a bit of a recovery in mining.

and that's what so damn stupid about quoting % moves, as a 2p move at yesterday's opening would have constituted about 40%!

33% to be precise. Still,despite yesterdays fall there was a good deal of buyers about.
How do you feel about this one now cynic.You were quite an enthusiastic supporter a while back.
The key obviously has to be the ability to gain financing from somewhere or other.

i was an unequivocal fan, but POG, it's parent, has also fallen badly out of favour, so i am currently more comfortable being out ...... i suspect or am almost sure that ORE has a good future, but as we all know, commodity prices have collapsed of late, and that includes iron ore, and until we see a proper recovery underway, i do not think this is a company or even sector into which one should put new money.

by the way, it's worth just keeping an occasional eye on the baltic index which will give you a good clue as to where things are heading.

i am expecting more - already made a packet end last week - in for more and already well up - 20p + easy soon! gl

BRIEF-Aricom confident on in line 2008
AFX


LONDON, Nov 4 (Reuters) - Aricom PLC:

* Remains confident that 2008 production will be in line with the most recently

published forecast

((London Equities Newsroom; +44 20 7542 7717))



(For more news, please click here)



COPYRIGHT



Copyright Thomson Reuters 2008. All rights reserved.

production or profitability? ..... big difference!!

Question?
Where is the best place to look to view chart movements of metal and mineral prices?

Try top of the page at http://www.thebulliondesk.com for metals.

Thanks Harry

LME must have a site, and Kitco certainly does

"Aricom, the Anglo-Russian developer of mineral resources, is pleased to announce that it has entered into a non-binding Memorandum of Understanding ('MoU') with China Metallurgical Group Corporation ('MCC'), one of the largest equipment manufacturers in China and a leading Chinese contractor to the metals and mining industry.

The MoU relates to the construction of Aricom's proposed 10mtpa iron ore beneficiation plant to be located at the Group's K&S project. The MoU provides the basis for discussions between Aricom and MCC concerning the signing of an engineering, procurement and construction agreement ('EPC' contract) based on an internationally recognised form of contract (such as the International Federation of Consulting Engineers (FIDIC)) for fixed price, EPC/turnkey projects.

MCC is the leading state construction company in China with a focus on EPC, engineering services, equipment fabrication and resources investment. It has undertaken construction contracts for a significant number of iron ore and steel projects in China.

Jay Hambro, Chief Executive of Aricom, commented:

'I am pleased that Aricom has entered into this memorandum with MCC, which is the largest state contractor in China. Despite the current financial market volatility, I believe in the strength of our project portfolio and any resulting construction contract would be a significant step forward for the development of the Aricom project portfolio'"

Sounds pretty good Harry,though I understand that the Russian stock market was suspended yet again today after hefty falls.

"Aricom plc announces that it is making changes to the operational plan for the Kuranakh project in response to current market conditions.

Operations at Kuranakh involve mining, crushing and screening in order to generate a pre-concentrate. During 2008, Aricom has been selling the pre-concentrate at prices which have generated a positive contribution. The Olekma beneficiation plant, once commissioned, will upgrade and divide this pre-concentrate into iron ore (titanomagnetite) and ilmenite concentrates.

Given the current market conditions, the Board believes that the value of the project, as a whole, is best served by suspending sales of pre-concentrate to await commissioning of the Olekma plant in mid-2009 and, in the meantime, scaling back mining activities in order to minimise operating costs. Aricom expects that the capital expenditure required to finalise the Kuranakh project will be c.US$30m.

Commenting on this announcement, Jay Hambro, Chief Executive, said:
'Realising initial income from Kuranakh has been a considerable advantage and it is unfortunate that the market no longer supports the economic value in sales of pre-concentrate. Despite this short term setback, we are confident that the Kuranakh project will be a profitable contributor to the Aricom portfolio when the Olekma plant is commissioned in 2009 to realise sales of the higher margin iron ore and ilmenite concentrates even in this depressed market for all commodities.' "