I bought this stock back when it was 29 pre-reconstruction. Why? I've collected some of the info which led me to buy into the stock, not including of couple big funds invested in NIA-POS spending rather large amounts.
12:01, Thursday, 25 January 2007 NIAGARA (NIA) up 7c to 32.5c: Drillhole NMD0004 at Denny Bore in WA has intersected massive sulphides. The intersection is immediately updip from WED4A, which intersected 17.5% nickel. Niagara says, "The sulphide intersection in NMD0004 is also expected to be nickeliferous and is showing a distinct thickening in the updip position relative to the previous hole (WED4A) drilled by the company."
12:46, Thursday, 1 February 2007 Niagara Mining Ltd (ASX code: NIA) today reported recent testing of massive sulphides from diamond drillhole NMD0004 at Denny Bore confirmed high-grade nickel. Testing with a handheld XRF analyser reported greater than 12 per cent nickel over the length of the sulphide intersection. The technology used is for preliminary screening data only and the spot measurements were taken within the massive sulphide interval to get an idea of the grade and mineral species occurring in the interval. Niagara says confirmation by use of the analyser that the massive sulphide nickel grades in NMD0004 are of similar order of magnitude to the adjacent intersections (WED4 - 13.5% and 17% Ni; WED4A - 17.6% Ni, respectively 100m and 80m down-dip) is "very encouraging". Shares in Niagara rose 3c to 29c today.
17:18, Friday, 23 February 2007 Niagara Mining Ltd (ASX code: NIA) today reported the massive nickel sulphides intersected in NMD0004 at Denny Bore (as announced on February 1 to be nickeliferous) into an area of limited previous exploration has returned the following assay: 0.56m at 13.49 per cent nickel downhole. The result is believed to be approximate true width. NMD0004 was drilled to intersect a DHTEM (downhole transient electromagnetic survey) target identified during a geophysical survey and reappraisal of the old WMC diamond drillhole (WED4 & WED4A). Niagara believes this further intersection could be indicative of a new high-tenor nickel sulphide system at the Windarra Nickel Project and is distinct from previous discoveries made at Mt Windarra by Poseidon NL and at South Windarra by the Hanna/Homestake/Union Oil joint venture during the nickel boom in the late 1960s. NMD0004 has been completed to 759.2m and the mineralisation is 80m updip from the WED4A intersection. DHTEM survey results indicate the central section of the conductor has not been intersected. The interpretation suggests the source is centred above (to the west or updip) and to the north of the hole. Niagara believes the intersection is part of a larger remobilised massive nickel sulphide zone which should be situated in close proximity. Further drilling is under way to target this mineralisation. Shares in Niagara rose 1.5c to 24c today.
09:48, Monday, 19 March 2007 Niagara Mining (ASX:NIA) has acquired the Woodline Well nickel sulphide project from Perilya (ASX:PEM), located approximately 10km west of the Windarra nickel project, Western Australia. The transaction will compliment the company's exploration and development strategy for the Windarra district.It has also extended a right for Perilya to examine data on the zinc prospectivity of the Windarra project area with a view of a possible JV arrangement. The Woodline Well comprises three prospecting licences, totalling 359ha.The majority of the western flank of the Mt Margaret Anticline is assimilated by granite and the Woodline Well area is considered to contain a remnant outlier of Mt Windarra ultramafic greenstone stratigraphy on the basis of a strong aeromagnetic anomaly associated with a footwall BIF below the Windarra ultramafic sequence. Significant nickel values were returned from the project area in drilling by previous explorers. Woodline Well was discovered as the fortuitous result of a gossan search and near total sand cover has meant that its geological setting is not well understood, being based on a limited area of shallow auger drilling and magnetic interpretation. Outside of the small area that has received the bulk of the deeper drilling, the host ultramafic has been only lightly tested, if at all. The presence of near surface economic grades of nickel mineralisation, some of it primary, warrants further investigation, Niagara said. Niagara shares were last traded at 23c.
11:13, Tuesday, March 27, 2007 Niagara Mining (ASX:NIA) has results from a combined RC and RAB drilling program on both the Salman South gold project and the Mame gold project, located in Ghana, West Africa. The Phase 1 exploration program was completed at the start of March and results include 1m at 6.80g/t, 4m at 4.66g/t and 12m at 2.04g/t gold. A total of 3,201m of RC drilling has been completed in the Salman South project to initially test the southern extensions of the Salman deposit. The RC drilling stepped out on 100m lines across the Salman shear zone and coincident gold in soil anomaly. This anomaly can be traced over 3.5km to the south of which 1km has been tested during this phase of drilling. An additional 3,768m of RAB drilling was completed on the Mame prospect to the southeast where significant artisan workers are currently mining the alluvial gravels. Most significant of this drilling are holes MARB070 and MARB100 (500m apart) which returned significant intercepts coincident to the strike of the gold in soil anomaly Niagara shares were up 0.5 to 23.5c.
12:17, Thursday, 5 April 2007 NIAGARA (NIA) up 25.5c to 50c: Reinstated today after announcing a reorganisation that will enable it to aggressively pursue its objective of becoming a significant independent nickel producer, including the appointment of Andrew Forrest as non-executive chairman.
08:29, Tuesday, 10 April 2007 The late Duchess of Windsor famously once said you can't be too thin or too rich. Andrew Forrest will probably skip the first - save for his nickname Twiggy - but he's still working hard on the second. His stake in FORTESCUE MINING (FMG) has come from nowhere to more than $2 billion. Now he's starting on his second fortune in Mount Windarra (now there's a name to conjure with) nickel hopeful NIAGARA MINING (NIA). Niagara is consolidating its shares on a 1-for-2 basis, which will result in issued capital of 334 million shares reduced to 167 million. Andrew Forrest will become non-executive chairman.He and his associates will take a placement of 5.5 million post-consolidation shares at 40c and "accept an incentive-based" issue of 117.5 million post-consolidation options. Niagara rose 33c to 57.5c after the news, putting Mr Forrest's little play well into the money. The first couple of billion is always the hardest ... it's easy after that.
11:43, Wednesday, 11 April 2007 The names Packer and Pratt on the share register can do wonders for the share price. You can add Forrest to that list, Andrew Forrest. He and his associates will take a placement of 5.5 million post-consolidation shares at 40c, and "accept an incentive-based" issue of 117.5 million post-consolidation options, in NIAGARA MINING (NIA). The shares have not stopped soaring since the announcement. They rose 33c to 57.5c in the initial reaction and a further 21.5c to 79c yesterday - a tripled share price in two days is even better than the aforementioned two P's. Actually, they have stopped soaring ... the shares fell to close at 68.5c.
08:24, Tuesday, 24 April 2007 Traders in NIAGARA (NIA) kicked sand in the face of the ASX speed police yesterday. The ASX had the temerity to query the company on Friday over a rise from 69c to 80c. The company could offer no explanation in its reply. So the shares promptly soared a further 21.5c to $1.035 yesterday and closed at $1.This means Niagara has risen 40c, or 66 per cent, for no reason. Niagara has not stopped soaring since Andrew Forrest of FORTESCUE MINING (FMG) fame bought in. Whatever he's got we'd like some of it.
12:19, Monday, May 14, 2007 NIAGARA (NIA) up 23c to $1.365: Has risen from $1.06 since last Tuesday's announcement of an $8.65 million cash injection by RAB Capital from an early options conversion. Niagara is up from 43c last month.
08:30, Tuesday, 15 May 2007 NIAGARA MINING (NIA) got into Ferret's MARKET REACTORS yesterday with a 23c rise to $1.365. It appeared to be a continuation of the rise from $1.06 on the back of last Tuesday's announcement of an early options conversion by RAB Capital, resulting in an $8.65 million cash injection. However, Niagara just kept on rising in the afternoon, peaking at $1.795 before finishing 35c in front at $1.485 as trading volume reached a whopping 30.5 million shares. The plot thickened when an announcement by Niagara was released almost two hours after the close. It said recently drilled nickel intersections in four diamond drillholes had confirmed the presence of high-grade nickel mineralisation at the company's Windarra project in WA. The nickel mineralisation was intersected at the Mt Windarra nickel mine area and at Denny Bore, which is 13kms south of Mt Windarra. Among the results from Mt Windarra were: * 31.8m at 1.46pc nickel from 712.2m (down-hole), including 7.2m at 2.32pc nickel from 713.3m (down-hole) and 8.0m at 2.04pc nickel from 734.0m (down-hole); * 7.66m at 2.35pc nickel from 140.6m (down-hole), including 0.93m at 11.73pc nickel from 144.3m (down-hole) and 11.0m at 1.14pc nickel from 178.0m (down-hole); and * 5.46m at 1.46pc nickel from 177.0m (down-hole), including 0.77m at 5.61pc nickel from 178.6m (down-hole). The intersection at Denny Bore was 2.85m at 1.68pc nickel from 657m (down-hole) and 0.95m at 6.45pc nickel from 664.5m (down-hole). Not a bad set of intercepts but that was some rise in the shares. We'll be watching closely today to see if, er, Niagara falls.
08:29, Thursday, 17 May 2007 NIAGARA MINING (NIA) called a trading halt yesterday to announce that it had signed a nickel marketing agreement with FORTESCUE METALS (FMG). Niagara likes to talk big end of town. It says the strategic alliance being formulated by the parties is an opportunity for Niagara "to leverage off the large industrial strength and capabilities that Fortescue Metals Group Ltd has built over the past few years in developing the 'New Force in Iron Ore' and assist in creating a formidable world-class nickel exploration, mining and production company. "The company looks forward to progressing the company's development and generating shareholder wealth." The leverage Niagara shareholders will be hoping for is the sort that has seen Fortescue rise from $8.50 a year ago to $33.50 yesterday, up $1.20 on the day. Niagara, meanwhile, resumed its "generating shareholder wealth" duties by rising 12c to $1.51. Reflecting the daytrader element in the stock, turnover was again huge at 20 million shares after the 26 million on Tuesday and 31 million on Monday.
08:30, Friday, 18 May 2007 History does repeat. In its reply Magma is basically talking about its good address, its nearness to NIAGARA (NIA) - which is about to be the new Poseidon, at least by name. Back in 1970 being in the same state as Poseidon was almost a good enough address. By the way, Niagara itself replied to an ASX query yesterday on when-it-knew-what about Friday's announcement.
10:32, Friday, May 18, 2007 Niagara Mining (ASX:NIA), in response to a query from the Australian Stock Exchange, said information that was announced by Fortescue (ASX:FMG) on May 16 was material for an announcement to be made on that date. The ASX queried Niagara on May 14 regarding share price movements and was told the company was not aware of an explanation for recent trading. It again queried Niagara after the revelations on May 16. Niagara said today discussions about a possible arrangement with Fortescue commenced on or about April 8 and the agreement was signed after the market on May 15. It said negotiations regarding terms and scope were protracted and at all times discussions were ongoing and incomplete. It said there was no indication confidentiality in relation to the Fortescue announcement was lost or compromised. Niagara shares were down 8.5c to $1.405.
POS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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