OK - I'm heartily sick to death of reading about super mining taxes.
Instead of carrying on like chooks, I'm going to suggest we keep looking for opportunities instead of spending all day moaning about politics (when the chances of change are extremely likely anyway).
For my money, I feel we are currently being held to ransom a little by the big miners who are threatening to pack up and leave the Australian exploration. What if Canada and other countries are sitting back waiting to load up a tax themselves if they see that it actually works here in its final form - IF it gets off the ground at all? Highly possible - all countries are looking for income!
So - we have plenty of companies here that are still keeping on keeping on!
I'll kick it off with two that I like as mid to long term holds. Please do NOT turn this into a political debate, or the posts will disapepar - this is to identify some of our junior explorers, or junior producers who are going to keep going regardless. I'd say forget the FMG's and BHP's and RIO's where they can afford to play mind games, and look to support the fair dinkum Aussies.
Add your own choices AND some detail about what the company is doing.....not just stock codes please, or that's just an unsubstantiated ramp!
My two iron ore likes right now.
Pluton Resources Code PLV
Tony Schoer, MD and CEO has clearly stated that the Government will love him when they start mining, and though not happy with the tax, is pushing ahead regardless. Just announced an upgraded iron ore resource of 108 mt at 66%. Please see this post - click here to get a handle on what the possible future share price could be worth. After that post, click 'thread view' to see more info. Also check the announcements of course to see actual detail. Location is one of the major factors for PLV - no expensive transportation costs, so a low cost operation.
Bonython Metals Group Pty Ltd (BMG) to farm-in to Carpentarias 100% owned tenements at the Hawsons Iron Project, Broken Hill, New South Wales
This $81M deal represents a staged injection of cash to Carpentaria of $53M plus $28M for exploration costs
Australian and Asian investor-backed BMG to make an initial $5m cash payment and a further $8.0m to fund exploration and resource definition staged over 3 months with future staged cash and other payments of up to $68 million to Carpentaria
Carpentaria to retain a 20% free carried interest to the targeted production of 20 million tonnes per annum (tpa) iron ore concentrate
Total Carpentaria exploration budget on this and other Carpentaria projects boosted to around $10 million for 2010, largely on drilling
This transaction has the potential to transform Carpentaria into an iron ore mining company in the medium term, that has additional exposure to tin, gold, nickel and coal projects across eastern Australia
Since then, they've received $5 mill of hte cash injection, and have announced (last week - June 8th) further success at the Hawsons Iron Project.
It's looking good, and I invite you to do your own research - read the anns, and check the credentials of Nick Sheard, the MD who has a good record of developing companies. this post - click here will guide you to some info on Nick Sheard, then go to the thread view for more.
Happy hunting all - and let's get behind the Aussie explorers!
Look forward to some details on companies that others like, but pleae keep them Aussie and supply some details.
