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

We could do with putting a stop to this daily slide.....

Big dilution on the way, which is presumably why the sp has continued to slide?
"LONDON (Thomson Financial) - AIM-listed Aricom Plc. has confirmed it will need in excess of $1 billion in external funds to develop its K&S and Garinskoye iron ore projects in Russia.

Morgan Stanley has been appointed to advise on securing the funding to construct and develop both projects, Aricom said in a statement."

If you look at the statement though it mentions a number of routes to the finance but doesn't mention going cap-in-hand to shareholders.

ORG (sorry - ORE!) rumbling north again, as it deserves .... glad i got back in at 85 having taken profits when ducking for cover 7/10 days ago

What about this $1 billion funding that is wanted for expansion?
How do you think this will affect things?

don't really know as it will depend to a fairly large extent on market sentiment at the time ...... however, i am currently much more interested to see whether or not sp can break back up through 25 dma at about 91

It's interesting chessplayer that although the sp has drifted the last couple of weeks it hasn't tanked following the funding announcement. That bodes well I feel......

Yes.It seems to me also,that Russia,where Aricom is based,has been one of the few regions that has held up well during the recent market turmoil.

LONDON (Thomson Financial) - "Aricom Plc. said it has completed the first iron ore sales from its Kuranakh deposit in Russia, which ot desribed as a 'milestone' in progressing to a producer from a developer.

The Anglo-Russian mineral resources developer said the Kuranakh crushing and screening plant, currently in a pre-commissioning phase, is expected to reach target throughput during the third quarter of 2008.

Aricom started mining operations at Kuranakh in Oct. 2007."

Good news HARRYCAT.

The shares are having a bad time lately Down about 35% from their recent highs Any views on Aricom?

I'm still very much a fan chessplayer as I think they have great potential on their own or will be snapped up by a bigger player. The sp drop is very frustrating but in line with many other shares at present.

Sp sailed down past the 50 & 200 DMA on the chart. Support at 63p?
Interestingly the same thing happened last year during july & aug when the sp tanked & then recovered well.

Let's hope history does repeat itself HARRYCAT as I could do with some blue on my portfolio!

seems to have turned the corner at 64.?!Like Paul McCartney.
If I knew anything about charts,which I don't,I'd say there was plenty of upside.

I believe there is a mine to come on stream in 2009? Part of the K & S project.
200 DMA presently around the 76p mark, which would be a nice target to reach, but some kind of news from ORE might be the only way to get there, imo.
The june sale of shares probably didn't help either:
"LONDON (Thomson Financial) - Aricom Plc., the Anglo-Russian miner, said Philotus Holdings Ltd. has reduced its stake to 11.5 percent or 132.05 million shares after it sold 10 million shares at 88 pence per share.
Philotus Holdings is a company in which Peter Hambro and Pavel Maslovskiy and their associates have interests.
Following the transaction, the company said Peter Hambro and associates will hold 7.63 percent stake or 87.60 million shares, while Pavel Maslovskiy and associates will hold 7.65 percent or 87.78 million shares in the company.
Peter Hambro is the father of Jay Hambro, who owns Aricom."

something very horrible here today ..... sp has dropped nearly 20% with no explanation - yet!

Sell ORE to 40p...bad times ahead

When it started to turn yesterday,I got a bad feeling and sold at 63.What is going on anyway,they are nearly half of price of a couple of months back?

Makes you think that Peter Hambro saw something coming when he sold part of his stake.