re: agd Mining .....cheap spec. that may get some An interesting...

re: agd Mining .....cheap spec. that may get some An interesting play which has attracted overseas interest.Cambrian Mining[UK]has built up an interest of 12.39% since June in two bites.Deepgreen Minerals has an interest of 22.42%;not sure what they are doing as they reduced their holding by 50 mill in September then bumped it up by 100 mill in October.Seems it will attract some interest as they have raised money to get a trial mine going in the next few months.Although there many shares on issue the company is only valued at about $12 million which is small by todays standards.$300,000 would take out the next 10 selling levels.This article from the Age gives more details.On tech.analy. it could go for a run.

From The Age;

24th September
By Barry FitzGerald

There has been little if any joy on the price front for mineral commodity producers in 2002. The gold price is firmer and the oil price is holding up. But that seems to be for as long as the talk of a war on Iraq holds up.

What joy there has been for commodity prices, outside of any war-of-sorts against Iraq, has been confined to antimony, an obscure metal, controlled by the Chinese, with particular applications as a fire-retardant and some high-value applications in TV screens and so on.

The price of the metal that does not shrink (on being cooled), has more or less tripled in the past six months to around the $US3500 a tonne mark. The reason has been simple enough. China's central planners, with an eye on their new-found world trade obligations, have been closing mines where high death rates among the miners had previously been accepted.

The lasting cuts to Chinese production have upset the cabbage cart in world/supply demand, driving the price of antimony up in the process. All that is good news for the Melbourne-based AGD Mining, which plans to bring its Costerfield gold/antimony project in central Victoria's wine country into production by this time next year.

The antimony spike obviously makes Costerfield a more attractive play. What was a $5 million development generating $5-$6 million in annual earnings before interest tax and depreciation/amortisation (EBITDA) now looks capable of generating $15 million-plus in annual EBITDA, given that AGD's original forecasts incorporated an antimony price of only $US750 a tonne.

That potential might well be starting to show up in AGD's share price. It continued to trade at 0.8 cents a share yesterday while it was putting the finishing touches to a $1.84 million one-for-four rights issues, with attached six-month options, at 0.7 cents a share.