Ann: Metal-Pages Shanghai Presentation - 13 Septe, page-11

re: Ann: Metal-Pages Shanghai Presentation - ... Great post LTL. Your 'find' linked in your first point deserves the 'Sleuth of the Year' award. For time-challenged readers, I've pasted the relevant passage from Section 2.2 at the bottom.

What became clear shortly after open yesterday, was that you had 'zinged' a weasel broker. The spread at 10.36am is reproduced below. It shows the capper who stacked the sell side at 23c. An opening trade had given the signal that buyers were about. 5,000 @ 23 cents went thru at 10.06 am. The next trade is at 10.55am. It was 3,285 for $739 and probably carried the capper's fingerprints. And so it went for the rest of the day.

In all transparency, the capper then herded price below obvious support at 20.5c (from January 2013) for a close at 20 to trigger stop losses. That wipes weak tech traders' hands.

Why would the broker cap it? Because they want more stock as cheaply as possible. They are trading for the house or a big client wants NTU stock before it gets too pricey ... and before the October JORC revision.

The latter is a good sign. The stock is being accumulated.

Interestingly, assessing all the drill results up to and including the AUG 26 announcement, my modelling suggests there'll be more than 42,000 tonnes of TREO at about 1% across the 3 drill areas. That's more than 10 years of mine life. I'll know in a month how good my model is.

The spread ...

NORTHERN MIN LTD FPO
Tue 17 Sep 2013 10:36 AM (Sydney time)
Previous Close ($) 0.225

Buyers Sellers
Volume Price ($) Price ($) Volume
25,668 0.225 0.230 69,599
2,500 0.225 0.230 100,000
8,000 0.225 0.230 10,000
30,000 0.220 0.230 35,000
13,000 0.210 0.230 16,000

Buyers bidding 22.5 for 36K shares. Capper lists 231K @23.
-----------------------------------
2.2 Overview of Proposal

Third paragraph ...

"An on-site beneficiation plant would treat up to 750,000 tonne per annum (tpa) of ore to produce approximately 15,000 tpa of mineral concentrate. The beneficiation process would involve crushing, grinding, magnetic separation and flotation of the xenotime ore. The concentrate produced by the beneficiation plant would then be further processed via a hydrometallurgical process to produce up to 4,000 tpa of high purity mixed rare earth oxide for export overseas ... "