Ironclad Mining IFE (Strike whilst the Iron's hot)

[ASXIOU]

To float Wednesday 11/7/07 1pm.

Spin-off from Trafford Resources which will take majority ownership of the Wilcherry Hill magnetite deposit (TRF retains 50% of IFE aswell as 20% of the project). As per TRF's announcements earlier this year IFE will have a JORC resource of 44mt of premium quality iron ore with eploration potential for 300mt-600mt. With iron ore prices and the IPO market running hot creating IFE was basically an easy way of raising extra exploration capital to further advance and enlarge Wilcherry Hill with the view of eventual production. By all accounts IFE which is quite tightly held (only 20m shares in the free float) and has a smallish market cap ($40m @ $1ps) should list at a reasonable premium on Wednesday (my guess would be 20-40%) although I truely beleive long-termers will receive the greatest rewards. Interesting part will be to see how TRF reacts to the listing and the potential arbitrage available between the two in the future. Definitely one to watch.

Website: http://www.ironcladmining.com/


Hold IFE, Please do your own research before deciding whether to buy, sell or hold stocks.

[ASXIOU]

Just opened at $1.52. 52% over issue price of $1. Happy days....:)

Hold IFE, DYOR

[tommy]

Hi ASXIOU,

Amazing start man, kicking myself for not buying IFE!!! Well done for getting in mate, believe IFE will have even better things to come.

For the time being, however, TRF looks a lot cheaper... will TRF catch up?

[The GrandMaster]

I got my fill of these too!

Giddyup!!

[moimoi]

Iron ore tipped for 25pc price hike....


http://www.theaustralian.news.com.au/story/0,20867,22053015-5005200,00.html

[ASXIOU]

Something's cooking: TRF up ~10% and Ironclad up ~15% on no news... I seem to be having alot of deja vu between IFE and AED in it's early days and it's quite easy to draw a lot of similarities between the two....

Hold IFE (and TRF) DYOR

[clearasmud]

The iron ore report was very positive about the quality of the iron ore deposit.Plus infrastructure is very good apparently.
They seem to be acting quickly to get this project moving-hiring quality managers etc.
There will be a lot of future dillution to raise capital so I'll be happy with what I got.

Thoughts of Clearasmud.

[tommy]

IFE up 10% on higher than usual volume today, reaching all time high... any rumours? Wonder what drove the price up today, couldn't help but buy today.

http://www.comsec.com.au/info_frameset.asp

Those who purchased IFE under one dollar several weeks ago should be laughing now all the way to the bank!

[tommy]

Surprised with the lack of price movement after encouraging announcement:

http://sa.iguana2.com/cache/75d4c8e8750f8830eb5f5335e29188cc/ASX-IFE-379332.pdf

ASX / MEDIA RELEASE
10 October 2007
WILCHERRY HILL DRILLING UP-DATE
Highlights.

• Initial results confirm mineralisation continuity and grade at Ultima Dam East
• Ironstone intersected in first exploration traverse testing greenfields magnetic target
• Additional, larger capacity reverse circulation (RC) rig on site from late October
• Diamond drilling underway

The Directors of Ironclad Mining Limited (ASX Code: IFE) wish to advise that the initial results from the resource extension drilling program at Ultima Dam East has confirmed the comparatively high grade of the magnetite resource, extended mineralisation to the north and south by approximately 100 metres and identified hematite mineralization in the upper 40 metres of the deposit.

Nine (9) reverse circulation (RC) drill holes have been completed and assay results have been received for the initial four (4), which have tested beneath and along strike from previous drilling which recorded 30 metres grading 49.9% Fe within the JORC compliant resource of 12 million tonnes at an average grade of 40% Fe, calculated by Maprock Pty Ltd.

The analytical results are summarised in Table 1 below*
Hole No. Azi Dip EOH Easting Northing Comments Context Results
From To Interval Fe% SiO2% P%
07UERC001 55 -60 115 638150 6377259 Hematite + magnetite 34-52m;
magnetite 52-74m
Resource
confirmation
34 74 40 46.7 15.8 0.043
07UERC002 55 -60 93 638114 6377219 Hole abandonded Resource
confirmation
No significant intersection
07UERC003 55 -60 106 638113 6377352 Hematite 12-27m; hem+magnetite
27-47m; magnetite 48-58m
Extensional
exploration
12 58 46 38.8 23.2 0.070
07UERC004 235 -60 121 638181 6377403 Hematite Extensional
exploration
6 27 21 47.0 15.4 0.030
and Magnetite 51 56 5 53.2 12.8 0.015

The drilling program of up to 35,000 metres is designed to extend the existing resources which are associated with magnetic “highs” by drilling along strike and testing adjacent magnetic targets. The objective is to increase the existing JORC compliant resource of 44 million tonnes at an average grade of 36.4% Fe for the Wilcherry project to approximately 100 million tonnes at similar grade which would be sufficient to support production rates of up to 4 million tonnes per year in the study program.

Current resources of 12 million tonnes at an average grade of 40% Fe at Ultima Dam East lie within the northern magnetic anomaly (“Matthews”) in Figure 1. Recent drilling is shown in yellow while planned holes in the current program are shown in white.

Figure 1: Aeromagnetic image showing drilled holes (yellow) and planned holes (white) at
Ultima Dam East prospect. Hole numbers are abbreviated for clarity (1=07UERC01).

Although it is too early to comment on the potential impact of the drilling results on the resource estimate, the results are considered encouraging
as:

• The average grades of the recent drill intercepts (38.8 – 53.2% Fe) are equivalent to or higher than the average grade of the resource (40% Fe).
• Holes 07UERC03 and 07UERC04 intersected mineralisation at shallow depths approximately 40 metres north of previous drilling.
• While analytical results from holes 07UERC05 – 09 have not been received at this time, geological logging has confirmed that magnetite mineralisation extends at least 70 metres south of the previous drilling.
• Magnetite mineralisation was identified in hole 07UERC06, which tested a separate magnetic anomaly (“Eckermann”) approximately 200 metres east of previous drilling. Analytical results are awaited.
• Hematite mineralisation has been identified in the upper 30 – 40 metres of the weathering profile which provides an opportunity to outline direct shipping ore (DSO) although some beneficiation is likely to be necessary to achieve marketable iron grades.

Metallurgical testwork to determine the quality of product and recoveries
will commence shortly with initial results expected later this year.

RC drilling progress has been slower than expected due to moderate ground water flows and limited air capacity. To improve productivity additional compressor capacity is being sought by the contractor (GOS Drilling) and two additional higher capacity rigs are being secured with the first expected to be mobilised and operating at site by the end of October.

Diamond drilling to test deeper portions of the mineralization and provide samples for metallurgical testwork and geotechnical data commenced on 29th September. Good productivities have been achieved to date and hematite mineralization has been identified to approximately 40 depth in the first hole at the Weednana prospect.

Managing Director Ken Hellsten said “while progress is slightly behind schedule contingencies have been put in place to ensure the overall study program schedule is maintained. The results to date are encouraging with the continuity and grade of the Ultima Dam East mineralisation confirmed by recent data, hematite mineralization identified in the upper
40 metres at Weednana and Ultima Dam East and additional mineralization identified associated with the “Eckermann” magnetic anomaly immediately east of the Ultima Dam East resource.”

Subject to positive results in the Pre-Feasibility Study it is planned to complete a Bankable Feasibility Study by the end of 2008 with first output planned from mid 2010.

Ken Hellsten
Managing Director
(08) 6210-9800
PAGE 4 OF 4

*Notes to accompany Table 1:
Locations are shown in Figure 1, with holes being drilled 40m apart on sections spaced
200m apart and directed perpendicular to the trend of the magnetic anomalies apart
from the northern fences which are 100 metres apart. Coordinates are given in GDA94
Zone 53, accurate to within 10m. Results are presented as average grades from
downhole intersections, and so do not necessarily represent true thickness of the
mineralised zones. All results are based on RC chips from 1m samples which have been
sub-sampled using a riffle splitter. The aggregation of assay results is based on
continuous zones greater than 30% total Fe%, although assayed intervals less than 30%
total Fe have been included where the interval is considered too short to separate
(typically a single metre). Assay results have been determined by XRF fused bead
analysis at the SGS laboratory in Perth. No indication of potential recoveries is available
from these results.
Previous work at Wilcherry Hill, mainly by Acacia, Anglogold, Aquila and more recently
Trafford Resources, has focused mainly on gold and base metal exploration. The
geological interpretation of these previous workers suggests that the iron oxides in the
Wilcherry Hill area are developed in brecciated, metasomatically altered carbonate rocks
of the Mesoproterozoic Hutchinson Group in a skarn setting adjacent to intrusions of
Hiltaba Suite granites.
Ironclad Mining is earning 80% interest from Trafford Resources through expenditure of
$10M.
The information in this announcement is based on information compiled by Ken Hellsten, who is a Fellow of The Australasian Institute of Mining and Metallurgy and who has more than five
years experience in the field of activity being reported on. Mr. Hellsten is a full-time employee of the company.
Mr. Hellsten has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Hellsten consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

[denpal]

Well worth reading today's ann. Up 40% today on highest volume since listing.

I believe this is a quality company and hold.

Plans to be in low-capex DSO 2mtpa Iron Ore crystalline magnetite Q3 2010.

[drillfix]

This is like TRF in a competition to see who runs the Gauntlet the highest. Insane~!

[denpal]

This is like TRF in a competition to see who runs the Gauntlet the highest. Insane~!

If you look at what's happening wrt the project and the I-O sector, and look at the MC on 44M FPO's post the entitlements issue (1 for 10 at 65c), at $1.20 say MC is only $53M.

[drillfix]

Cheers denpal,

I have been checking out the Intra-day on this one.

I appears we now have a MA cross over, lets see if she holds up.

[drillfix]

Actually here is a snapshot of IntraDay for IFE and TRF

http://i49.tinypic.com/be8nqx.gif

[denpal]

Actually here is a snapshot of IntraDay for IFE and TRF

http://i49.tinypic.com/be8nqx.gif

Cheers, I'm not actively trading this one as usually there is no liquidity. I do hold quite a few and average up as time goes on.

[drillfix]

Cheers, I'm not actively trading this one as usually there is no liquidity. I do hold quite a few and average up as time goes on.

You sound smart denpal, so well done for holding quite a few and averaging up, its the right direction to do such averaging. (as most people stubbornly av down).

[Huang Chung]

denpal - Cheers, I'm not actively trading this one as usually there is no liquidity. I do hold quite a few and average up as time goes on

Well done denpal.

I'm kicking myself over this one...saw the announcement, phoned the broker to buy some, but ended up deciding I needed to do some more homework. Watched it sitting in the mid-nineties for most of the day, thinking it had had its run. Then it really took off.

Had time to act and didn't....damn :mad:.

Although magnetite, this project seems to have plenty of positive attributes.

Good luck to IFE and TRF holders.

[drillfix]

Had time to act and didn't....damn :mad:.



Hey HC, dont worry bud, there are probably many of us kicking and having a bit of a sore gut. And thats the thing with investing sometimes. It is known that fear more powerful than greed at times. (most times).

I feel like a total dork after watching TRF and then sitting on the sideline there like some Cricket commentator giving a potential whether forecast.


While we are on the subject, your a true IO and minerals man, whats your take on the two companies value (IFE and TRF). or How would you compare them to GIR for example or other sector companies??

Would be interested to hear your comments.

[Huang Chung]

Hi Drilly

I'm not overly familiar with TRF or IFE, but did have a quick look at both over Christmas.

Guess it depends on what toots your horn...is it the iron ore, where you can get a more pure exposure through IFE, or the 'all rounder' attributes that TRF provides? Funny, I was nearly going to pose the TRF vs IFE question on Hot Copper, where both are regularly discussed. Something to remember is that TRF's shareholding in IFE may not be given full value by the market, which is often the case in these types of situations.

That Wilcherry Hill project does look interesting. But, you have to bear in mind that it is magnetite, which means more processing and more cost than a straight dig and ship hematite operation....capex and opex will be interesting.

Whilst it would seem that Wilcherry Hill is probably near the top of the tree when it comes to Australian magnetite projects, my guess is that it probably wouldn't be as desirable as many reasonably sized 55-58%+ Fe dig and ship hematite operations (assuming acceptable ore attributes and not a stranded resource). But really, you'd have to see the figures to properly compare projects.

[denpal]

Hi Drilly

I'm not overly familiar with TRF or IFE, but did have a quick look at both over Christmas.

Guess it depends on what toots your horn...is it the iron ore, where you can get a more pure exposure through IFE, or the 'all rounder' attributes that TRF provides? Funny, I was nearly going to pose the TRF vs IFE question on Hot Copper, where both are regularly discussed. Something to remember is that TRF's shareholding in IFE may not be given full value by the market, which is often the case in these types of situations.

That Wilcherry Hill project does look interesting. But, you have to bear in mind that it is magnetite, which means more processing and more cost than a straight dig and ship hematite operation....capex and opex will be interesting.

Whilst it would seem that Wilcherry Hill is probably near the top of the tree when it comes to Australian magnetite projects, my guess is that it probably wouldn't be as desirable as many reasonably sized 55-58%+ Fe dig and ship hematite operations (assuming acceptable ore attributes and not a stranded resource). But really, you'd have to see the figures to properly compare projects.

We're talking here crystalline magnetite which is high grade DSO with very very low impurities plus it's self-fluxing. It's unlike normal magnetite. Actually it is considered a premium product according to IFE. It's worth reading the anns. back some way to get a handle on just what this means. 2mtpa is just the start.

The other leg of the current share price trifecta is ROL: ie TRF, IFE and ROL. Amazing really. TRF is the holding company and owns 50% of IFE and 20% of ROL. I have been in all 3 over the recent gains although currently out of ROL looking for a good re-entry.

[Huang Chung]

With those three, you've done very, very well denpal :cool:.

Tell me, at the current price of $101.5 for TRF and $1.16 for IFE, which do you think is the better buy?

As I said, kicking myself for not being more decisive today with IFE, but them's the breaks I guess.

US futures looking strong, so you might build on today's gains tomorrow.

[drillfix]

Cheers both HC and denpal. Some excellent replies from both you~!

To hear and know the FA on these certainly does goes to show how it can aid in ones decision process.

So I guess my next question would be, how high can these go? Surely they cant go up like an elevator forever, and its exactly that which is very in some way nerving in even thinking about entering.

[denpal]

As regards the best entry point, that's probably one for the TA experts to answer. The rise in both has been stunning already.

IFE normally has low liquidity, important to remember that.

TRF has the 1:20 in-specie distribution of ROL shares coming up, record date approaching, so that is relevant too. It could I suppose soften off after that.

I like both, but have more on IFE. Again for me IFE is a long-term investment and I will only bail out if it becomes totally overheated and seek to re-enter on the retrace to increase my stake as in total number of shares held.

Good luck.

[drillfix]

Those who fully know what the exact value of these companies are would know probably what or where the SP will end up but ultimately its the market that will make up its mind about that.

It may go too far overboard and the retrace to some FIB number, but who knows when and what number so as far as an entry point, the best entry point IMO is in the past which is of no use now.

But looking at the past we can use some potential Fibonacci to gauge where she will land, but when it the trick.

Looks set to roll for another day up balloon and elevator riding.

Need some big steel balls for and entry in this or TRF, although may just have a crack at it with by simultaneously running a Intra-day 2, 5 and 10 minute chart respectively.

Can post some here if anybody wants at certain turning points if anybody else wants to see, but dont hold me to exact times, would post every hour and if important changes were to occur (rise or fall) then I would post here first to say. Anybody also gonna have a stab at this? Not sure exactly when I would enter though.

Comments anybody, or anybody having a stab today???

[drillfix]

Well, Im in folks.

Just doing the lunch buy after lunch sell thing.

Lets see how this pans out ;) :rolleyes: :confused: :eek: :cool:

[drillfix]

Hmmm, nearly hit my mental stop there.

Im not sure if my frigging 5 and 2 min charts are the quick in and outers I thought. But they are starting to shape up.

Obviously other factors I have clearly missed and I know what they are, thats for sure.

Knew it, this stock is an over hyped Hot Air Balloon~! Gee Im a stupid idiot~!

[denpal]

Hmmm, nearly hit my mental stop there.

Im not sure if my frigging 5 and 2 min charts are the quick in and outers I thought. But they are starting to shape up.

Obviously other factors I have clearly missed and I know what they are, thats for sure.

Knew it, this stock is an over hyped Hot Air Balloon~! Gee Im a stupid idiot~!

I picked up a few more at $1, sellers coming in now.

[drillfix]

I picked up a few more at $1, sellers coming in now.

good on ya denpal,

but im out of it at a small but signficant loss.

Too much HOTAIR around these type of stocks IMO.

[shasta]

good on ya denpal,

but im out of it at a small but signficant loss.

Too much HOTAIR around these type of stocks IMO.

Drilly

Are you intra-day trading now?

Is day trading too passive for you?

:eek:

[drillfix]

Drilly

Are you intra-day trading now?

Is day trading too passive for you?

:eek:


Yes shasta, although not every day.

I am very unhappy with myself for picking this stock to dabble

As in, I was being a gambler and not a trader, so I have already broken my resolution and will not do this again NO MATTER WHAT THE STOCK or unless I fully know the stock.

I haven't actually put together my trading plan as yet, and I really should not even bother trading unless I do have my plan in place.

Very disappointed with myself I am, very pissed off, but that is part of REAL learning and I will get back on my high horse and get it right.

But saying this, the truth is I shouldn't even bother posting in threads while the markets are open.

Anyways, enough my BS. Have a wonderful day all~!

[denpal]

Yes shasta, although not every day.

I am very unhappy with myself for picking this stock to dabble

As in, I was being a gambler and not a trader, so I have already broken my resolution and will not do this again NO MATTER WHAT THE STOCK or unless I fully know the stock.

I haven't actually put together my trading plan as yet, and I really should not even bother trading unless I do have my plan in place.

Very disappointed with myself I am, very pissed off, but that is part of REAL learning and I will get back on my high horse and get it right.

But saying this, the truth is I shouldn't even bother posting in threads while the markets are open.

Anyways, enough my BS. Have a wonderful day all~!

Don't be too hard on yourself, real learning is by hard experience!!!!!!! Don't I know that so well, plenty of losses as well as gains along the way to earn a bit of experience.

[shasta]

Yes shasta, although not every day.

I am very unhappy with myself for picking this stock to dabble

As in, I was being a gambler and not a trader, so I have already broken my resolution and will not do this again NO MATTER WHAT THE STOCK or unless I fully know the stock.

I haven't actually put together my trading plan as yet, and I really should not even bother trading unless I do have my plan in place.

Very disappointed with myself I am, very pissed off, but that is part of REAL learning and I will get back on my high horse and get it right.

But saying this, the truth is I shouldn't even bother posting in threads while the markets are open.

Anyways, enough my BS. Have a wonderful day all~!

Have you written down your ideal trading methods?

That way you remove all emotion from your decisions, & let TA do it's thing (like AA used to do).

I've only adjusted my written down strategy about a hundred times :D

[soulman]

Drill, why not posting your experience intra-day. We can all learn from your mistake and you will be our teacher. Although, it would be good if it were more positive outcome than negative outcome.

Here's mine yesterday. Accidently sold one lot of ESG on one of my account, forgetting to rid of the orders during the long weekend. I usually check all open orders during the weeks end but not this week (poker overload). So yesterday, when ESG was on swan song, I thought I still got them but obvious sold them during the morning. Only realise they were gone 30 minutes before the market close. Still got a few but the lessons has been noted.

So you bought IFE at the high I guess?

Denpal, you must be running good at the mo, buying some more at the low today.

[drillfix]

Soulman, I am already embarrassed as it is posting the fact that I am honest about what I do and what I have done.

What I have been through the past 3 months without saying very much for me has been HUGE, it has been like a Rebirth and its very hard for me to explain.

But as you say, there is a lesson here, not just for me but for everyone who potentially reads this. It not just one trade, it is one trade, in one stock, at one period of time, for one period of time.

I am very frustrated to have done what I have done, but these are the pains one takes when setting out to be an intra-day trader.

Truth is, I need more truth from experienced switched Pro's who can assist in fine tuning my (stupidity I call it) early or newly learned skills.


Today was an example of something I thought I could pull off.

3 mistakes today where.

1. Firstly, I yielded the warning that the stochastics about to turn down as they are crossing.

2. The stock has been overbought, I should have just let it go, rather than trying to milk it for a penny or two, menaing RISK/REWARD was not there, Unknown and gamble. Pro's dont gamble, they only trade Probability ONLY

3. I also had a mental stop in place, somebody came to my door (2 old friends) I answered and told them to come in and the stock only minutes later was past my mental stop. So instead of using mental stops I should have entered an mechanical stop. Lesson here?? Never answer the door, pickup the phone until you are out of the trade and clear. Too simple that it had to be difficult and it cost me a couple more hundred.


I need to Journal EVERY trade of when, why, target, entry and stop/exit to precise accuracy and use notations in ones trading plan to govern those parameters.

I dont mind taking a loss, there will be lots of losses I understand but keep them down to a bare minimum.

As of this moment, I have my book here that still says:
What do I need to be a more effective and profitable trader.
It also says things like Trading plan, Charting platforms, Data feed or EOD, Broker selecting etc etc The list goes on.


Problem is, I am still trading before I have completed my trading plan, so the first thing to enter into that, is 1. Do Not Trade until you have a Trading plan in place.

So there you have it, a classic example of how Intra-day can turning against you with a few other excuses.

I could have made a tiny profit, but that thought only came and went within 2 seconds, after that it was all about damage control or break even. But I even missed that due to the above, so hence my disappointment.

Anyways, I hope somebody else out there can benefit form this little but significant trading experience.

ps: sorry for the mundane long post, but perhaps this topic is best set in its own thread or type of thread on trading related etc.

[Huang Chung]

I don't know if I was seeing things through exceptionally bright rose coloured glasses yesterday, but further examination of yesterday's announcement makes me think I was being overly positive on IFE.

Denpal, correct me if I'm wrong, but the simple yesterday's announcement is limited to the magnetite ore that is grading 50%+ Fe. Now the project (including the Weednanna Prospect) are averaging some 36%Fe. How many tonnes are graded 50% or better?

My initial interpretation was that this low cost crushing/screening/low intensity dry magnetic seperation would be applicable across the project, but it would seem that this is not really the case.

Happy to be corrected or educated......

[denpal]

I don't know if I was seeing things through exceptionally bright rose coloured glasses yesterday, but further examination of yesterday's announcement makes me think I was being overly positive on IFE.

Denpal, correct me if I'm wrong, but the simple yesterday's announcement is limited to the magnetite ore that is grading 50%+ Fe. Now the project (including the Weednanna Prospect) are averaging some 36%Fe. How many tonnes are graded 50% or better?

My initial interpretation was that this low cost crushing/screening/low intensity dry magnetic seperation would be applicable across the project, but it would seem that this is not really the case.

Happy to be corrected or educated......

My understanding is that at present they have around 10Mt of DSO magnetite, and once Ultima Dam West JORC comes in this could double to 20Mt. The DSO is just the top layer of the 60Mt crystalline magnetite which is expected to be readily increased to 120Mt shortly. Apart from the aforesaid the significance of yesterday's ann. is that the DSO resource is bigger now as some of the lower grade stuff is easily upgraded to DSO standard.

The DSO operation is a short-term plan to get cash-flow happening with ultra-low capex required for a mobile plant. The balance of the crystalline magnetite will then be mined with the potential 1Bt (215Mt JORC'D at present) Hercules BIF conventional magnetite as the final stage (as it requires big capex). They are planning 10mtpa for this stage.

What I like is the management quality, and the efforts they make to minimise dilution.

[Huang Chung]

Thanks for the clarification denpal.

[drillfix]

Have you written down your ideal trading methods?

That way you remove all emotion from your decisions, & let TA do it's thing (like AA used to do).

I've only adjusted my written down strategy about a hundred times :D


Yes shasta I have a stack written down content and much other content from many of these seminars I have been doing, but I still need to collate them into draft.

No doubt I will be taking some time off to get myself sorted out as there is still much to do/think/revise/write/plan for the upcoming year.




Although, it would be good if it were more positive outcome than negative outcome.


I wish did Soulman but there will be others.


So you bought IFE at the high I guess?

Nope, at the time I bought it was at the what seemed to be the low.

Some things should be, NEVER buy a stock unless you really know it, its habbits, the best time for entries and exits, Know the stock, and the more the better your probability in the trade.

Look at this stock now, its back up to where I bought, now if I held over night I would have made a profit instead of a loss. Ahh well, learning again~!

[denpal]

Added a few more at 107c today. Looking OK for the moment.

[denpal]

IFE really firing today, now 132c and has been to 140c.

[drillfix]

Good stuff denpal, can you explain the logic for this on such a day as today?

What happens if the US gets trashed tomorrow, will this stock defy gravity and continue up?

[denpal]

Good stuff denpal, can you explain the logic for this on such a day as today?

What happens if the US gets trashed tomorrow, will this stock defy gravity and continue up?


Some say the US is due for a bounce, possible wave 2 up of C down? Dunno. All I know is that IFE is doing well. I know that it has appeared on the daytrade thread over at the other place, so that's probably a bad thing leading to a volatility increase.

I'm an accumulator rather than a DT on IFE, so would only sell on major macro factors such as China's demand for I-O tanking, global market meltdown or micro factors being a major setback in the company's plans.

[drillfix]

Some say the US is due for a bounce, possible wave 2 up of C down? Dunno. All I know is that IFE is doing well. I know that it has appeared on the daytrade thread over at the other place, so that's probably a bad thing leading to a volatility increase.

I'm an accumulator rather than a DT on IFE, so would only sell on major macro factors such as China's demand for I-O tanking, global market meltdown or micro factors being a major setback in the company's plans.

Well wow, all I can say denpal is that is one heck of a Good explanation, thanks.

[moimoi]

also on the other channel, as an explanation, a suggestion to do the following

google search "penny mining speculator" ife

currently result 2 shows an extract of the story

[denpal]

also on the other channel, as an explanation, a suggestion to do the following

google search "penny mining speculator" ife

currently result 2 shows an extract of the story

They reckon 27% profit margin at $43m pa on revenue share of $160M pa on 2mtpa at $100/t (less 20% for TRF's share of course). Which is a PE of 1.38. 10-bagger within 2 years they reckon.

[drillfix]

also on the other channel, as an explanation, a suggestion to do the following

google search "penny mining speculator" ife

currently result 2 shows an extract of the story

moi moi, I dont get it.

Its showing links to hotcopper, and I dont care to read what that says as every Mofu and his dog are woffling on over there.

[drillfix]

They reckon 27% profit margin at $43m pa on revenue share of $160M pa on 2mtpa at $100/t (less 20% for TRF's share of course). Which is a PE of 1.38. 10-bagger within 2 years they reckon.

Ahhh, so thats why, well denpal you have a talent with words and the ability to deliver what you want to say in such a short phrase. Again, thankyou.

Sorry moimoi, for a minute there I thought you were telling me to wad through all the cr@p over there on HC.

[moimoi]

All Good DF...i hadn't actually done the suggestion myself.

Chart appears to look pretty healthy..

[denpal]

Nice action today, strong accumulation by the looks. Now 142c up 7%.

[drillfix]

Seems to be alot of BOT buying/selling going on as well.

12:11:29 PM 1.435 230 330.05
12:09:29 PM 1.435 240 344.40
12:07:29 PM 1.430 250 357.50
12:05:29 PM 1.430 250 357.50

[moimoi]

yeah impressive that its been up on the last 3 market down days..

[moimoi]

http://www.theaustralian.com.au/business/iron-prices-tipped-to-soar-as-chinese-mills-feel-the-pinch/story-e6frg8zx-1225823745828

[drillfix]

yeah impressive that its been up on the last 3 market down days..

Looks like its now in reverse polarity there Moimoi.

A total and obvious changing of the Guard as one would say.

Same goes with TRF big drops and its a pitty this isn' on the short list :rolleyes:

[moimoi]

yeah that was quite a violent reversal. For TRF i'd have thought the explanation was going ex the ROL entitlement. But for IFE am not so sure. Something in yesterdays pre feasibility announcement.??

Denpal...is it your reading of yesterdays announcement that the $28/t gross margin is including a forecast 25% increase in benchmark prices.?

[denpal]

yeah that was quite a violent reversal. For TRF i'd have thought the explanation was going ex the ROL entitlement. But for IFE am not so sure. Something in yesterdays pre feasibility announcement.??

Denpal...is it your reading of yesterdays announcement that the $28/t gross margin is including a forecast 25% increase in benchmark prices.?

It says on page 3 that the margin is based on 2009 benchmark contract prices. We are looking therefore at a higher margin than $28/t because a) IFE plan to take advantage of the premium prices on the spot market and b) 2010 contract prices are expected to be approx 20% higher than 2009 prices. Good buying today on the 50% fib (unless we are looking at a major correction in the broader market!).

[soulman]

I bought a small amount of TRF for a swing trade yesterday, thinking it was way oversold and today sold it cheaply (too cheap). Just look at the action of IFE, TRF and ROL today. A bounce of magnificent altitude.