Not a PM miner but worth being on the watch list for some? I thought Iluka was undervalued after fundamental analysis. Bought a small tranche for my SMSF after doing my own research. They seem to be the only titanium/rutile/mineral sands miner of any substance in Australia. Sales have slowed which the analysts pick on but they are receiving a higher price (2012) per unit of material sold and higher revenue while selling primarilly their stockpiles, while lowering production costs by not needing to produce much to meed demand. So their revenue the last year is better than the year before despite selling less - which I think has been overlooked. Since I bought I've learned Iluka is the 2nd most short sold security in Australia. As far as I understand it that means hedge funds believe the share price will continue to go down and shorting profits off that? I also saw a 'Sell' recommendation from an analyst on The Bull a week ago. Well very pleased today, good upwards movement today and right now it's 12% higher than when I bought. As the short sellers now need to buy to meet their contracts, that will continue to drive up demand/price for their shares, won't it? I wonder if analyst in The Bull who recommended to Sell is one of the short sellers?
There is a company in WA called Tiwest Joint Venture. They are the other company over here who mines and has their own refinery in Muchea (Nth of Pth 60k's ?)I have not looked into who's who in the zoo they may be all related. Not sure if this helps any. It seems to point to a parent group - http://investor.tronox.com/ this may give you some global trend to compare as well. Keep us informed of your findings also if you can
