Baffinland wird bald explodieren !
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* Baffinland says ArcelorMittal to offer C$1.10/shr
* Offer at premium of 16 pct
* Baffinland urges shrholders to tender favour of offer
Nov 8 (Reuters) - Baffinland Iron Mines said ArcelorMittal, the world's largest steelmaker, has agreed to make an C$433 million offer for the Canadian miner.
Baffinland said the ArcelorMittal offer values the company at C$1.10 a share, a premium of 16 percent over the stock's Friday's closing.
Last month, Baffinland had urged its shareholders to reject a C$274 million bid from Nunavut Iron Ore Acquisitions, saying the offer undervalues its flagship Mary River project in Nunavut in the Canadian Arctic.
Baffinland has been looking for partners for its C$4 billion Mary River project for about two years. The project has reserves of about 365 million tons of ore grading an average of 65 percent iron, and about 500 million tons of ore resources.
Baffinland urged its shareholders to tender their shares in favor of the offer.
The company's largest shareholder, Resource Capital Funds, which owns about 23 percent stake in the company, and its directors and board members have agreed to tender all their common shares and warrants in favour of the agreement, Baffinland said in a statement.
Baffinland shares, which have gained nearly 70 percent in value since they received the offer from Nunavut, closed at 95 Candian cents Friday on the Toronto Stock Exchange.
(Reporting by Arnika Thakur in Bangalore; Editing by Unnikrishnan Nair) Keywords: BAFFINLAND ARCELORMITTAL/
(arnika.thakur@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arnika.thakur.thomsonreuters.com@reuters.net)
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Wertpapier: BAFFINLAND IRON MINE |
Nunavut Iron Ore Acquisition Inc. Increases Offer For Baffinland Iron Mines Corp. Common Shares
8:18am EST
Nunavut Iron Ore Acquisition Inc. ( Nunavut Iron ) announced that, pursuant to its statement of intention of December 29, 2010, it has increased the consideration under its offer (the Offer) to purchase Common Shares of Baffinland Iron Mines Corporation (Baffinland) so that, for each Common Share taken up, the holder would receive $1.45 in cash per Common Share plus one exchange right (the Exchange Right) per Common Share assuming the minimum tender condition under the Offer is met. In circumstances where the Exchange Rights are provided, Nunavut Iron and its affiliates intend to exercise commercially reasonable efforts to cause Baffinland to distribute to each shareholder of record as of the record date for the distribution, in respect of each then outstanding Common Share held thereby, 0.4 of a Common Share purchase warrant (a Warrant). It is proposed that each whole Warrant would be exercisable for three years and would entitle the holder to purchase one Common Share at an exercise price equal to the greater of $1.40 and the price determined in accordance with the rules of the Toronto Stock Exchange. Each Exchange Right will be non-transferable and will entitle the holder thereof to receive its pro rata share of the Warrants issued to Nunavut Iron and its affiliates, including the Warrants issued in respect of the Common Shares now owned by an affiliate of Nunavut Iron
Nunavut Iron Ore tweaks offer for Baffinland, adds exchange right per share
By: The Canadian Press
Posted: 01/10/2011 8:24 AM | Comments: 0
Print E–mail 0Share0ShareNewReport Error TORONTO - Nunavut Iron Ore Acquisition Inc. tweaks its offer for Baffinland Iron Mines Corp. (TSX:BIM) by adding an exchange right for each common share, but maintains its cash offer at $1.45 per share. Company has also extended its deadline for the offer until Jan. 25.
Posted on: Tue, 11 Jan 2011 04:50:05 EST
Symbols: MT
Jan 11, 2011 (M2 EQUITYBITES via COMTEX) --
Steel company ArcelorMittal (NYSE: MT | PowerRating) announced on Monday that it extended the acceptance time of its offer for all the outstanding common stock of Baffinland Iron Mines Corporation at CAD1.40 in cash per share and all outstanding common share purchase warrants, issued under a warrant indenture 31 dated January 2007, at CAD0.10 in cash per warrant till Midnight Toronto time on 21 January 2011.
The company said it will mail an extension notice of the offer to Baffinland securityholders immediately and those who have validly deposited their common shares and warrants do not require to take any other action, while those yet to tender their common shares and warrants now have an extended time to do so.
Georgeson Shareholder Communications Canada Inc is the information agent and Computershare Investor Services Inc the depositary for the offer.
(USD1 = CAD0.99)
January
2011Real Help for the North – by Peter Foster (National Post)
posted in Aboriginal Mining, Canada Mining, Canadian Media Mining Articles |
The National Post is Canada’s second largest national paper. This column was originally published in the Financial Post on January 4, 2011.
Whoever wins the contest for control of BIM, the people of Baffin Island are
far more likely to thrive being “exploited” by filthy capitalists than being
“helped” by governments. National Post, Peter Foster (January 4, 2011)
The Baffinland Iron mine Would Bring Desperately Needed Jobs
From a financial point of view, the takeover contest for control of Baffinland Iron Mines Corp., BIM, hardly registers. The latest round of bidding for the company puts a value on it of $570-million, a piddling amount when compared with, say, the $44-billion market capitalization of Potash Corp. In other respects, however, BIM may be more genuinely “strategic” than the Saskatchewan mining giant, a proposed takeover of which was deep sixed earlier this year because of the “S” word.
In fact, the rejection of BHP Billiton’s bid for Potash was all about electoral politics. However, the location of Bafflinland’s prime asset is genuinely strategic in terms of the Conservative government’s Arctic aspirations. Also, the project would bring desperately needed jobs and revenue to the region of Nunavut, where it costs Canadian taxpayers $1-billion a year to service some 33,000 people living in an area the size of Western Europe.
U.S.-controlled Nunavut Iron Ore Acquisition Inc. made a hostile bid for BIM in September. Since then, Luxembourg-based steelmaking giant ArcelorMittal has arrived on the scene as a white knight. Last week Arcelor upped its bid to $1.40 per share for all the Baffinland shares. Nunavut Iron Ore, which was set up solely to acquire Baffinland, immediately upped its own bid to $1.45, but for only 60% of the equity.
Wrangling continues before the OSC over a BIM poison pill. There are also reverberations from the fact that one of Nunavut’s employees had consulted for Baffinland shortly before the bid. Still, the broader significance of this deal surely lies in its meaning for Northern development.
BIM controls a huge iron ore deposit at Mary River in the middle of northern Baffin Island. The company reckons that it is the highest-grade undeveloped iron ore project in the world “that remains independently owned in a low-risk jurisdiction.” The problem is that it is way closer to the North Pole than to Toronto, where BIM is headquartered. It is also 1,000 kilometres from Nunavut’s capital, Iqaluit.
Desolate hardly describes the Mary River landscape, where the average annual temperature is -15C and activity is all but impossible in the permanent night of the winter months. The deposit was first discovered in the early 1960s, but was abandoned for almost 40 years. What made it potentially viable is the impact on markets of China and India, plus ever improving mining and transportation technology, which tends to be taken entirely for granted.
The development was projected in 2008 to take four years and cost around $4-billion. It will involve building a 140-km railroad south to a new all-season, deep-water port at Steensby Inlet, plus a fleet of icebreaker ore carriers. At the height of construction it will employ over 2,600 people. It will permanently employ around 450 at the mine and port to produce 18 million tonnes of iron ore a year for 21 years, with the prospect of further development beyond that.
For the rest of the article, please go to the National Post website: http://opinion.financialpost.com/2011/01/03/...al-help-for-the-north/
This entry was posted on Tuesday, January 11th, 2011 at 11:54 am and is filed under Aboriginal Mining, Canada Mining, Canadian Media Mining Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
TORONTO, ONTARIO--(Marketwire - Jan. 13, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Baffinland Iron Mines Corporation (TSX:BIM) (the "Company") announced today that it received notice on January 10, 2011, by way of press release, of an amended offer (the "Amended Offer") being made to its shareholders by Nunavut Iron Ore Acquisition Inc. (the "Offeror"), a corporation wholly-owned by Iron Ore Holdings, LP, to acquire 49.7% of its outstanding common shares (calculated on an in-the-money fully-diluted basis) excluding the 10.3% of the common shares owned by the Offeror.
The special committee of the board of directors is reviewing the Amended Offer with its financial and legal advisors and will respond in due course.
Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada. Baffinland's shares trade on the Toronto Stock Exchange under the trading symbol BIM.
This press release contains certain information that may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to management's future outlook and anticipated events or results, and may include statements or information regarding the future plans or prospects of the Company. Without limitation, statements about the Company's interpretation of its completed magnetic survey, including related statements about the planned release of additional assay results and metallurgical testing results, statements about the continuation of the Company's exploration program including plans relating to additional mapping, more comprehensive sampling, drilling on any of the properties comprising the Company's Mary River Project and metallurgical testing and statements about the Company's potential resources are forward-looking information.
Forward-looking information is based on certain factors and assumptions regarding, among other things, expected mineral resources, iron ore prices, the timing and amount of future exploration expenditures, the estimation of additional capital requirements, the availability of necessary financing and materials, the receipt of necessary regulatory approvals, the feasibility of constructing and operating a direct-shipping iron ore mine at the Company's Mary River project and assumptions with respect to environmental risks, title disputes or claims, weather conditions and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect
Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks inherent in the exploration for and development of mineral deposits, risks relating to changes in iron ore prices and changes in the worldwide demand for and supply of iron ore, uncertainties inherent in the estimation of mineral reserves and resources, risks relating to the remoteness of the Mary River Property including access and supply risks, reliance on key personnel, construction and operational risks inherent in the conduct of mining activities, regulatory risks, including risks relating to the acquisition of necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing required to fund all currently planned exploration and related activities may not be available on satisfactory terms, or at all, environmental risks and insurance risks.
You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Baffinland Iron Mines Corporation
Daniella Dimitrov
Vice-Chair
416-814-3172
info@baffinland.com
www.baffinland.com
Drysdale Forstner Hamilton Public Affairs
Bruce Drysdale or Gord Forstner
416-206-0188
Source: Baffinland Iron Mines Corporation
Click Here for a complete listing of Baffinland press releases.
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To unsubscribe from this list please visit the email alert section of the Baffinland site.
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Date Sent: 1/13/2011 8:07:42 AM Powered by Q4 Web Systems
10:01am EST
Dow Jones reported that ArcelorMittal has formed a joint bid with former rival Nunavut Iron Ore Acquisition Inc. for Baffinland Iron Mines Corp. of Canada. ArcelorMittal said Nunavut is joining as a joint offeror for 100% of Baffinland's outstanding common shares with an increased offer of CAD1.50 a common share in cash. ArcelorMittal and Nunavut Iron will own 70% and 30% of Baffinland respectively upon successful completion of this latest ArcelorMittal offer, which is extended to January 24. - - - - - (repeated)
By George Leong|Jan 14, 2011, 11:02 AM|Author's Website
China is hungry for metals, whether we’re talking copper, iron or aluminum. So is Europe…and, in fact, the rest of the industrialized world. We are seeing an insatiable building up for mining companies, whether early-stage or in production. The interest is in mining the metals in the ground.
The market action points to speculative buying of mining companies, especially those with a massive reserve of metals in the ground waiting to be developed.
Just take a look at the proposal by Cliffs Natural Resources Inc. (NYSE:CLF) to bid for Canada-based mining company Consolidated Thompson Iron Mines Limited for CAD$4.07 billion. At stake is the massive concentration of iron ore in the ground, which is used to make steel.
Another ongoing battle in the Canadian mining sector has dragged on for several months to acquire the massive but undeveloped iron-ore deposit located on the Mary River project in the Canadian territory of Nunavut, which is held by Canada-based Baffinland Iron Mines Corporation (TSX:BIM).
The battle for Baffinland Iron Mines began in September 2010 when Nunavut Iron Ore launched an initial bid of CAD$0.80 for the company. It is interesting that Nunavut Iron Ore was formed for the sole purpose of buying Baffinland Iron Mines and is backed by private U.S. equity.
The problem was that the CAD$0.80 bid was vastly under-valuating the value of the iron ore in the ground. Yes, it will cost an estimated $4.0 billion to get it out; but once this is done, analysts believe that there will be enough iron to feed Europe for years.
This is why the battle is ongoing for this junior mining company that has incredible potential. The bids have steadily risen after Europe-based steel behemoth ArcelorMittal entered into the bid. The price of Baffinland Iron Mines traded as high as CAD$1.58 on Wednesday, nearly double the initial bid price. And, by all estimates, the price required will continue to rise. ArcelorMittal has a battle chest of money available for higher bids. Nunavut Iron Ore has limited finances, but has said that it is seeking out cash-rich Chinese companies that are also hungry for iron resources to fuel the country’s massive economic engine.
Arbitragers have been trading the stock based on expected higher bids, and so far this has played out well. If you see bids like this surface and especially on smaller mining companies, then you can try to make money buying in and selling higher.
Or scope out small mining companies with vast resources. These companies will drive speculative trading in 2011 and beyond.
I expect there will be numerous other takeover deals similar to the example of Baffinland Iron Mines. .Mining is hot and there is a lot of money to be made.
TIM KILADZE
Globe and Mail Blog
Posted on Friday, January 14, 2011 12:36PM EST
0 comments Email Print/License Decrease text size
Increase text size It’s a turn of events few people saw coming. After duking it out for control of Baffinland Iron Mines (BIM-T1.540.021.32%), ArcelorMittal and Nunavut Iron Ore Acquisition Inc. came together for a joint offer that both companies view as a win-win.
So who extended the olive branch? Nunavut Iron Ore. It makes sense, too, because the two firms were starting to one-up each other at an accelerating pace, and both didn’t want the stakes to get much higher too quickly.
More related to this story
•Arcelor, Nunavut make peace, join in bid for Baffinland
•Quick facts about the Mary River project
Video
Streetwise - Inmet and Lundin Mining: Merger of equals?
Video
Streetwise - Selling Zellers? The joint offer has been in the works for the past few days, said Nunavut chairman Bruce Walter, who added that it was put together at an exhausting pace. He also noted that while the combined effort may surprise people on the outside of the deal because the two companies have scorned each other’s competing offers, the negotiations between the two management terms were actually quite cordial.
“All parties involved understand the difference between the way in which one engages in the takeover bid game and how you want to conduct yourself going forward,” Mr. Walter said.
He also said that the joint offer had been on his ‘menu’ of options for some time, and that no one playing the hostile takeover bid game can expect anything less than unique twists and turns.
But now he has to test that theory with shareholders who he said weren’t brought into the fold about the potential of a joint offer. Resource Capital Funds, Baffinland’s largest shareholder, had already agreed to tender its shares in a previous lock-up agreement that it signed with ArcelorMittal.
Shareholders have until Jan. 24 to tender.
Friday, 14 Jan 2011 10:01am EST
Dow Jones reported that ArcelorMittal has formed a joint bid with former rival Nunavut Iron Ore Acquisition Inc. for Baffinland Iron Mines Corp. of Canada. ArcelorMittal said Nunavut is joining as a joint offeror for 100% of Baffinland's outstanding common shares with an increased offer of CAD1.50 a common share in cash. ArcelorMittal and Nunavut Iron will own 70% and 30% of Baffinland respectively upon successful completion of this latest ArcelorMittal offer, which is extended to January 24. - - - - - (repeated)
News Services January 16, 2011 The takeover saga for Baffinland Iron Mines Corp. has taken an unusual turn after the two rival bidders teamed up to submit a joint bid, a move that has the target company screaming foul.
"It might be grey legal, but it certainly isn't morally legal," Baffinland CEO Richard McCloskey said.
ArcelorMittal and Nunavut Iron Ore Acquisition Inc., together tendered the offer on Friday in a push for 100 per cent control of the company, Baffinland shareholders will be offered $1.50 per share in a deal that would triple Nunavut's holdings in the company from 10 per cent to 30 per cent.
© Copyright (c) The Province
Read more: http://www.theprovince.com/business/...16430/story.html#ixzz1BCbDqdvh
TORONTO, ONTARIO--(Marketwire - Jan. 17, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Baffinland Iron Mines Corporation (TSX:BIM) ("Baffinland") announced today that its Board of Directors has recommended that Baffinland's securityholders accept the ArcelorMittal ("ArcelorMittal") and Nunavut Iron Ore Acquisition Inc. ("Nunavut") joint offer (the "Joint Offer"), announced on January 14, 2011, to acquire all of the outstanding (a) common shares of Baffinland for C$1.50 in cash per common share, and (b) common share purchase warrants issued under the warrant indenture dated January 31, 2007 (the "2007 Warrants") for C$0.10 in cash per 2007 Warrant, and tender their common shares and 2007 Warrants to the Joint Offer. The Joint Offer is open for acceptance until 11:59 P.M. (Toronto time) on January 24, 2011.
The Joint Offer is subject to the same conditions as the last ArcelorMittal offer except that the minimum tender condition has been increased to such number of common shares which, together with any common shares beneficially owned or over which control or direction is exercised by ArcelorMittal, Nunavut and their respective affiliates and joint actors, represents at least 66 2/3% of the outstanding common shares of Baffinland (on a fully-diluted basis).
The Board of Directors understands that Nunavut has advised Baffinland shareholders who have tendered to Nunavut's existing partial take-over bid (the "Partial Nunavut Offer") for 49.7% of Baffinland's outstanding common shares (excluding the 10.3% of the common shares owned by Nunavut) for (i) C$1.45 per common share which can be taken up, and (ii) if the minimum tender condition is met, one exchange right per common share which can be taken up, to withdraw their common shares and to tender them to the Joint Offer. The Board also understands that Nunavut has agreed with ArcelorMittal that it will not, except as required by law or by a regulatory authority, extend the Partial Nunavut Offer beyond January 25, 2011, amend the Partial Nunavut Offer or waive any conditions of such offer.
The recommendation of the Board of Directors is based on the reasons provided in previously filed Notices of Change to Baffinland's Directors' Circular, and on the following additional reasons:
-- The Joint Offer of C$1.50 per common share is for 100% of the common
shares and 2007 Warrants and represents (i) a 36% premium to the
original ArcelorMittal offer of $1.10 for all of the common shares, (ii)
a 7% premium to the last amended ArcelorMittal Offer of $1.40 for all of
the common shares, and (iii) an 88% premium to the original Nunavut
offer of $0.80 per common share for all of the common shares other than
the common shares owned by Nunavut at the time.
-- Nunavut's original offer to acquire all of the outstanding common shares
of Baffinland was announced on September 22, 2010 and the original
ArcelorMittal offer was announced on November 8, 2010. Since November 8,
2010, the Board has not received any third-party acquisition proposals
for Baffinland or been in discussions with any third-party regarding any
acquisition proposal. However, the process overseen by the Board of
Directors since September 22, 2010 has seen a total of eight (8) rounds
of bidding by Nunavut and ArcelorMittal, inclusive of the current Joint
Offer.
-- The Board of Directors has preserved the ability to respond to
unsolicited superior proposals.
-- In light of the fact that Nunavut has (i) agreed with ArcelorMittal that
it will not, except as required by law or by a regulatory authority,
extend the Partial Nunavut Offer beyond January 25, 2011, amend the
Partial Nunavut Offer or waive any conditions of such offer, and (ii)
advised Baffinland shareholders to withdraw any common shares that have
been tendered to the Partial Nunavut Offer, there is effectively only
one outstanding offer.
In addition, in considering the Joint Offer, the Board of Directors, sought and received assurances from ArcelorMittal that, in joining as co-bidders with ArcelorMittal, Nunavut is responsible for bearing its pro rata share of the purchase price and all costs associated with (i) the Joint Offer, and (ii) upon successful completion of the Joint Offer, the development of the Mary River Project. The Board also notes that the Joint Notice of Variation and Extension, dated January 14, 2011, which was prepared by ArcelorMittal and Nunavut, contains disclosure to the same effect.
The Board also sought and received assurances that (i) for the purposes of determining Nunavut's proportionate amount of the total cost to take up and pay for common shares and 2007 Warrants under the Joint Offer, common shares held by Nunavut at the date of the Joint Offer are valued at the take up price per common share, being $1.50, and (ii) ArcelorMittal is not providing and has not agreed to provide any financial assistance or financial incentive to Nunavut or any of it affiliates, general partners or associates under the Joint Offer or the Joint Bid Agreement entered into between Nunavut and ArcelorMittal. The Board has also received advice from its legal counsel that, accordingly, Nunavut is receiving no collateral benefit as a shareholder of Baffinland in connection with the Joint Offer as prohibited under applicable Canadian securities laws.
A description of the reasons for the recommendation of the Board of Directors is set out in the Notice of Change to its Directors' Circular dated January 17, 2011 which will be filed on SEDAR (available at www.sedar.com) and mailed to Baffinland's securityholders as soon as practicable.
About Baffinland
Baffinland is a Canadian publicly-traded junior mining company that is focused on its wholly-owned Mary River iron ore deposits located on Baffin Island, Nunavut Territory, Canada. Baffinland's common shares trade on the Toronto Stock Exchange under the trading symbol BIM.
Any questions and requests for assistance may also be directed to
Baffinland's Information Agent:
Phoenix Advisory Partners
Toll Free 1-800-503-9445 (English or French)
Outside North America, Bankers and
Brokers Call Collect 416-385-6020
Email: contactus@phoenixadvisorypartners.com
This press release contains certain information that may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to management's future outlook and anticipated events or results, and may include statements or information regarding the future plans or prospects of the Company. Without limitation, statements about the Company's interpretation of assay results, its completed magnetic survey including related statements about the planned release of additional assay results and metallurgical testing results, statements about the continuation of the Company's exploration program including plans relating to additional mapping, more comprehensive sampling, drilling on any of the properties comprising the Company's Mary River Project and metallurgical testing and statements about the Company's potential resources are forward-looking information.
Forward-looking information is based on certain factors and assumptions regarding, among other things, expected mineral resources, iron ore prices, the timing and amount of future exploration expenditures, the estimation of additional capital requirements, the availability of necessary financing and materials, the receipt of necessary regulatory approvals, the feasibility of constructing and operating a direct-shipping iron ore mine at the Company's Mary River project and assumptions with respect to environmental risks, title disputes or claims, weather conditions and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks inherent in the exploration for and development of mineral deposits, risks relating to changes in iron ore prices and changes in the worldwide demand for and supply of iron ore, uncertainties inherent in the estimation of mineral reserves and resources, risks relating to the remoteness of the Mary River Property including access and supply risks, reliance on key personnel, construction and operational risks inherent in the conduct of mining activities, regulatory risks, including risks relating to the acquisition of necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing required to fund all currently planned exploration and related activities may not be available on satisfactory terms, or at all, environmental risks and insurance risks.
You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Baffinland Iron Mines Corporation
Daniella Dimitrov
Director and Vice Chair
416-814-3172
info@baffinland.com
www.baffinland.com
DFH Public Affairs
416-206-0118
Source: Baffinland Iron Mines Corporation
Click Here for a complete listing of Baffinland press releases.
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To unsubscribe from this list please visit the email alert section of the Baffinland site.
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Date Sent: 1/17/2011 8:35:39 AM Powered by Q4 Web Systems
Trend Spotter TM Buy
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 47500
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 53488
Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 43039
Overall Average: 96% - Buy
Price Support Pivot Point Resistance
1.5773 1.4914 1.5659 1.6404
Date Open High Low Last Change Volume % Change
01/17/11 1.5500 1.5500 1.5100 1.5100 -0.0400 4040675 -2.58%
Composite Indicator
Trend Spotter TM Buy
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 7264068
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 5722902
Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 4543081
Overall Average: 96% - Buy
Price Support Pivot Point Resistance
1.5100 1.4833 1.5233 1.5633
Baffinland Iron Mines (BIM.TO) investors have all but given up hope that the Canadian Arctic iron explorer will attract a second suitor, with the deadline on an existing, C$590 million ($593 million) bid only days away. Shares of Baffinland have receded to within a penny of the C$1.50 offered last week under a joint bid by ArcelorMittal (ISPA.AS) and Nunavut Iron. In the days before the joint bid, the stock had been trading as high as C$1.58. Those bullish bets, which faded a couple of days after Arcelor and Nunavut called a truce in their bidding war, may have reflected optimism that Canadian iron ore juniors were woefully undervaluded. In recent weeks, a spate of buyouts and joint venture announcements suggested just that.
