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Now that's good information gentlemen. Anticipation is tugging at the reins!
SP is holding up well. Not a lot of volume...quiet day. You folks have a good weekend alright...while we anticipate the coming week. Cheers
Most of you folks know the CEO bought a 100,000 shares yesterday as per Sedi's transaction report. His holdings are quite large and that shows his commitment to this company. I've said it before and I will say it again....I breathed the biggest sigh of relief when Bill Pfaffenberger replaced Kovacs! I've put a lot of money into Sola and and know Bill is trust worthy and a solid business person. Look at where this company is now compared to where it was just before Kovacs left! Since Dr Pfaffenberger took over.....the dash claims have been added and the manganese situation is looking much better. This MOU is a wonderful thing! A professional business oriented solid team are working together with Andrew and Chris on board and the field crew etc. I'm excited about going forward. There is no reason anyone should be negative. Only those who have some other agenda are negative. Blaming current management for past management's actions is ridiculous....it's insanity! That's like taking your car to a garage and getting a raw deal. A year later after new ownership has taken over.... you go back to them and tell them how horrible they are. Someone would say your elevator doesn't quite make it to the top floor. They might say you are as bright as a 2 watt lightbulb in a power failure! Like HM would say..... It's all good!
Manganese market outlook
Manganese is the fourth important component for steel making after iron ore, coking coal and scrap. Averagely 7 kilogram to 9 kilogram of manganese are used for producing of 12 tonnes of steel, usually in the form of ferromanganese or silicomanganese.
In 2008 world prices for manganese ore reached peak level along with the prices for steel and other kinds of metallurgical raw materials. Rush demand was accompanied with manganese ore shortage due to Chinese import boost and slow increase of the extraction in Australia, Brazil, and South Africa. In August 2008, at the peak of the increase, the prices for high carbon ferromanganese in the USA, Europe and Eastern Asia reached $3,000 per tonne CFR and more, manganese concentrate containing 44% to 45% of the metal was quoted at he level $20 per tonne 1% of manganese in dry tonne of the ore (about $880 to $900 per tonne) CIF.
During the crisis the manganese shortage at once turned to the excess. The prices decrease continued to about May 2009. By that time Ukrainian companies offered silicomanganese to Turkey and EU at not less than $800 per ton CFR, and the price for Australian ore fell to $3.2 to $3.5 per tonne CUF China. After that the market started recovery, but the average yearly price for concentrate reached about $4.90 to $4.95 per tonne.
According to TEX Report, in 2009 manganese output by the largest companies, such as Australian BHP Billiton, Brazilian Vale, and South African Assmang decreased by 34% as compared with last year. In China in the first half year of 2009 manganese ore output fell by more than 50% YOY; although in the Q3 and the Q4 the gap significantly decreased.
Armco to buy Brazilian manganese ore for $180m
China Armco Metals Inc announced that Armco & Metawise Limited, the company's wholly owned subsidiary, has entered into a contract to purchase 749,000 tonnes of Brazilian manganese ore fines over the next 16 months which could result in sales of up to $180 million over the contract period based on current market prices for manganese ore of this type.
Over 90% of magnesium ore demand is for the production of iron manganese alloys used in the steel industry. It is also used in the production of non ferrous alloys with aluminium, magnesium, copper, nickel and zinc.
In the production of steel, the presence of the manganese is essential for sulfur control, and, in special steels, for the control of carbon and phosphorus. Manganese ore has been in high demand recently, as the Chinese steel industry has continued to rebound in 2010 with industry forecasts calling for continued growth.
Mr Kexuan Yao CEO & chairman of China Armco Metals Inc said that "Securing this contract is a significant step forward for our company's metals distribution operation as we move through 2010. With the ability to sell this product into China under favorable terms we have significantly strengthened our overall supply capabilities. Upon successful delivery over the term of the contract, we are in a position to significantly boost our top and bottom line performance for the remainder of 2010 and well into 2011. We look forward to building on our relationships with this and other international suppliers in the coming months as we continue to see a strong environment for industrial metals in China.
Things are in motion nicely. Sorry I was absent for awhile.....things were slow and I was very busy. I sent you an inbox Heavymoney.
The sp has been holding quite steady. Bids building at .03 close to a million. Yesterday it touched into .025 and now the bids piled in at .03. Yea it has been quiet over here. I guess people want the thrill of the battle between bashers and pumpers over on the SH board. Not for me thankyou. That's a waste of time. I will post the odd time but won't even look at SH anymore...maybe a couple times a month. Until SH starts dealing with the riff raff and cleans up their boards I don't have any use for them.