# SRK - Strike Resources



## Nicks (29 March 2006)

SRK - seems promising given that the Uranium sector is extremely bullish at the moment.
Some similarities to SMM, ENR and even PDN. Big gap in the sellers. Im going to pick some up.


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## Nicks (31 March 2006)

Up nearly 5% already this morning. This one could indeed go for a run similar to some of the other Uranium stocks, (ENR, SMM etc). Uranium is indeed the raging bull, but its not all hype, it does have the fundamentals behind it (Uranium price, supply demand, China / India demand)


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## Nicks (4 April 2006)

UP OVER 16% TODAY!!!! More announcements coming.


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## Nicks (10 April 2006)

Worth a look at today, trading very low down heavily to 0.30c.

Stock has been in the high 30s even late last week. Could be an excellent chance to nab a short 20% return on a rebound back to 0.36c or higher, especially when they have news coming out this month.


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## pussycat2005 (19 April 2006)

Do some research on the Khan bros incorporate!

Dodgy brothers 

Just look at what happened to FAST SCOUT 
and their attempt to do a corporate raid on Biota


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## Nicks (28 April 2006)

Look at the sellers - there arent many! 
Went up a bit yesterday as there was noone selling, suspect the same to happen today.


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## tarnor (28 April 2006)

Hey pussie I thought this was fast scout (fsl)  and what happened with bta


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## Nicks (28 April 2006)

Im predicting a 10% rise by COB. Get in now. I am.


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## Nicks (3 May 2006)

Still going up. Plenty more Uranium interest still.


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## Nicks (31 May 2006)

Strong Buy support, up 1% today so far. Sellers are spread. The new price benchmark for this stock now seems to have been set, as there is now concrete tangible business (see news - peru) as well as strong potential business.


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## Nicks (31 May 2006)

Significant volume on this stock today, lots of interest. 3rd highest volume for it ever and day not over. Other times with this volume the stock has shot up.


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## Nicks (1 June 2006)

Yep, as suggested, SRK is making a run today, its volume is already nearly up on yesterdays high volumes. 
Too bad it didnt get there yesterday so I could take out the stock tip comp!


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## Nicks (1 June 2006)

hmm I think given the activity and volumes over the last 2 days some news is about to hit.


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## Nicks (1 June 2006)

Volume is about to hit 1 Million by midday. Every other time it has done this it seems the stock has closed significantly up and open higher the next day.


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## Nicks (2 June 2006)

Hit 0.60c very quickly this morning, has now dropped back to 0.575 which is a good opportunity to enter in my opinion. I think this could hit in the 70's quickly from looking at the seller spread.


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## Nicks (6 July 2006)

significant news on this stock with the pending aquisition of a controlling 51% stake in iron / ore mining in Peru. These commodities are in demand and this is unlikely to subside. Add to this its local Uranium potential this stock has some strong unerlying fundamentals and is still very affordable, potential for big gains in the short to medium term.


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## Nicks (7 July 2006)

and up 3% today, in fact they are well positioned now with the recent hikes in resources and their new project.


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## Nicks (11 July 2006)

More upward movement today, no real reason... that the market is yet aware of anyway.
Stocks like this are good to get in on when they are doing this, as small gains in dollar and cents values can equal large % gains, especially when the next bit of info is released to the market. eg 6c is 10%.


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## Nicks (11 July 2006)

Nicks said:
			
		

> More upward movement today, no real reason... that the market is yet aware of anyway.
> Stocks like this are good to get in on when they are doing this, as small gains in dollar and cents values can equal large % gains, especially when the next bit of info is released to the market. eg 6c is 10%.




I still suspect someone is buying up or some announcement is coming. There are big gaps in the sellers, ie not many sellers, so the price jumps and movements could be big and fast.


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## TimmyC (11 July 2006)

I picked these up around 0.30 and was thinking of selling.  Do you think i should hold off for a bit ?

can you explain why you think there is some announcement comming ?


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## Nicks (18 July 2006)

Check out yesterdays news - announcement.

Sellers are now starting to get very thin and I think this stock will move quickly again, so I think time to get in now while its around mid 70's to low 80's if you can. Has good fundamental backing based on recent news.

I just wish I picked it for the stock tip comp again!


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## Nicks (19 July 2006)

SRK has dipped back to low 70's with a couple of sellers. Then there is a big sell gap to high 80's to $1. I would think this presents a good buying opportunity right now as fast movement is a high possibility.


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## imajica (30 July 2006)

hey nicks,
             do you think that SRK is still a good buy at current levels? seems like it has a lot of potential to me

cheers


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## Nicks (4 August 2006)

hey imajica

Well im still holding, I think you cant go wrong. Its all about future supply and demand, and they will actually be able to supply in the future as they are beyond just prospecting and potential (see news... locally and in Peru).
So, IMO yesy I believe this stock can go higher, especially once they start reporting on commercial operations and production.

I first posted on this when it was in the 0.30's, as I did with AVO. So im guessing im ok at picking stocks with good value potential. Id still invest in both, I use fundamental backing and general global environment trends in my selections.


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## imajica (9 October 2006)

up 50% in the last few weeks

must be an announcement pending

charging towards $2


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## RobinHood (17 October 2006)

Looks climactic to me. I'm cutting my position.


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## Royce (23 October 2006)

This ones's dropping like a lead balloon.....Buyers thinning out...Could go as low as $1.25.

Royce


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## simonb (20 December 2006)

Hello all, first post here from somebody fairly new to the whole trading business. If there is anyone out there with an interest in Strike Resources I would be interested to hear from you. 

I believe this stock still has good potential for growth and will gather increasing interest with the possible up coming float of a spin off company dealing with its Australian Uranium interests.

Look forward to any comments.  :band


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## simonb (20 December 2006)

My bad,

Just found the previous SRK thread - dont know how I missed it before...


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## Sean K (20 December 2006)

simonb said:
			
		

> Hello all, first post here from somebody fairly new to the whole trading business. If there is anyone out there with an interest in Strike Resources I would be interested to hear from you.
> 
> I believe this stock still has good potential for growth and will gather increasing interest with the possible up coming float of a spin off company dealing with its Australian Uranium interests.
> 
> Look forward to any comments.  :band



It's had a great year Simon. Do you own it already? Consolidating ok around $1.50, although decending triangle is concerning. Would be even more concerned on a drop below $1.30 ish. 

The uranium spin off looks interesting. I suppose existing holders will get a priority in the IPO which could list well. The tennaments they have look ok, but no known mineralisation from what I've read. The NT ones look good. The ann on how this is going to be conducted should be out soon. 

Market cap about $100m for? Must be just based on the Iron Ore in Cuzco and potential yellow stuff? Is that a bit steep?


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## simonb (20 December 2006)

It has had a fantastic year. Unfortunately I have only just bought recently (unfortunately because I missed the boat on the early gains - not because I own the stock now !   )

My research on this one is a bit limited, although I do put a lot of value in their competent (ex RIO) Directors and the prospects in Peru and diversified interests in Aus.

I must add that the chance of getting first dibbs on any upcoming uranium float was a major consideration. I have also heard that there is likely to be more drilling results forthcoming in the near future which should be positive.

Sitting on a very small portfolio at the moment of this and MGX. Just getting started


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## Tubbles (5 January 2007)

Hey guys,

Dont know if anyone is still following this one.

I bought a small package this morning after doing some research.

I particluarly liked the fact that their Bigyrli tenements which they are intending to spin off with other uranium tenements are adjacent to Energy Metals

I also noticed that One of the directors bought 100,000 at market ($1.56) recently.

http://imagesignal.comsec.com.au/asxdata/20070104/pdf/00683201.pdf

Might be one to watchlist.


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## Sean K (5 January 2007)

Comparing this from the chart above it would suggest that it might be on the move up. Higher highs and lows are always a good sign for a breakout from a consolidation period. Remember, TA is just probabilities. Like broker research.   Plus, would be easy to draw the descending line so it looks like it's another low high.......

(not holding)


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## Tubbles (5 January 2007)

Hi Kennas,

Thanks for the chart.

Only bought a small amount of these

So happy to sit for a while...at least till the details of the uranium spinoff are posted.

Hopefully not too long.


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## Darryn (8 January 2007)

I love this company. I picked up 5000 SRKO @ 1 cent, only paid $50. Today that $50 is worth over $7000!
Nonetheless I am still very confident with Strike and believe it will have another good year. 
SRK has a substancial amount of Iron ore in Peru, after reading the companies annoucement on the 7th December 06 I bought a whole heap more. The amount and quality of iron ore held in Peru by SRK, competes with that of world class iron ore miners.
I believe this company has great potential..
Cheers


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## Caliente (8 January 2007)

wow maite - what a fantastic pickup, filled with envy at the percentage gain from that one! Would make Cudeco blush =)

just out of interest, what are the iron ore assets like at Peru?


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## Darryn (8 January 2007)

Have a look at http://www.asx.com.au/asxpdf/20061207/pdf/31007rlqrz7b90.pdf 

SRK has secured the rights to a potential 1.2billion tonnes high grade (60% +FE) iron ore resources across two areas (Apurimac and Cuzco). With Chinas huge increase in demand for iron ore, SRK is planning to visit 7 Chinese steel mills this month to hopefully secure some future buyers of this iron ore.

Looking at page 15 of the above article, SRK appears to have the 5th largest high grade iron ore resources in the world! 

Hence the reasons I remain confident with my hold in SRK.

Cheers


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## simonb (15 January 2007)

has anybody heard anything about SRK floating its uranium interests?


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## Tubbles (15 January 2007)

Hi Simonb,

See announcement Nov 28th 2006 (sorry cannot post comsec locks me out when I try to review announcements)re: intention to spinoff uranium assets

Details and date of spinoff yet to be announced.


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## Darryn (15 January 2007)

Uranium spin off was suppose to happen in December, probably going to happen sometime this month.
To have rights to buy the new uranium company at the IPO I gather you have to have a shareholding in SRK.
Price went up nicely today...


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## simonb (17 January 2007)

up 40c in the last month....

Do people think it will drop substantially after the uranium spin off?


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## Darryn (18 January 2007)

Up to 2.12 and it keeps on going. I think the main strong point about SRK is its iron ore, hence it shouldnt drop after the sin off. However on the other hand the market always over reacts, so it could pull back a little.


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## Darryn (7 February 2007)

Very good news out today.


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## simonb (15 February 2007)

and today.... Peruvian drilling results in. Drilling targets exceed expectations.


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## kransky (16 February 2007)

todays ann:

Iron ore project in Peru

21 drill hole results include:

*hole#  Intercept Grade*
*32... 108m.... 62%
33... 80m...... 60%
35... 114m.... 63%
37... 84m..... 61%
40... 82m..... 63%
41.... 28m..... 61%
*42... 154m.... 62%
44... 90m..... 62%
45... 48m.... 60%
50.... 44m.... 60%
51.... 51m.... 59%

*hole ended in mineralisation

And these are very shallow with intercepts starting at 18m,86m,6m,18m,0m,32m,16m,24m,2m,28m,34m.. etc

Total strike length is ~2km with each ore body 150-400m wide.

60M shares traded. closed at $2.74
cap = 164M


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## 56gsa (19 February 2007)

the numbers on this appear a bit crazy - a 768 MT iron ore resource, and looking for 1.2 bn MT.... and MC of only $164m  -- what is the market missing - does the altitude of the resources impact likelihood of mining?  is Peru an issue?  it all looks dirt cheap / cheap dirt

the U-spin off conditions look attractive for SRK holders of 5000 shares or more @ 6 march:
.  min $2000 in Alara which has a number of prospects with Bigrlyi South enough to attract interest imo
.  also has bonus loyalty option 3 months after listing (@ 1c for 25c option June09)
.  in-specie distribution back to SRK holders 6 mths after listing (at approx 1 Alara to every 4 SRK)

will be topping up i think....


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## Halba (19 February 2007)

Its a landlocked resource.

Capex will be about over 800mil to 1.5bil for this op.

Needs to build slurry pipeline/upgrade rail just like FMG.

If FMG can do it anyone can.


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## Tubbles (20 February 2007)

Newspaper article WA business news



> Strike, Orion spin-off Uranium assets in $6m IPO
> 19-February-07 by Edited announcement
> 
> Perth-based investment company Orion Equities Ltd (formerly Central Exchange) and resources explorer Strike Resources Ltd have announced plans to spin-off their uranium assets in a $6 million IPO.
> ...




I am a current holder of this stock


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## Halba (20 February 2007)

Forget the u spinoff, the iron ore drill results were superb.

1300m tonnes of iron ore..next FMG?


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## Darryn (15 March 2007)

Share trading just below $2.00. One month ago it was trading at $2.75. Fundamentals are still exactly the same. 
Seemed to not have recovered after the correction. In my opinion $2.00 is a bargain price for this stock, however the market obviously doesn't think so, hence such low volume recently.
Any thoughts as to why SRK is not recovering as of yet?


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## Darryn (26 March 2007)

Starting to look more promising today, some large trades of 300000 earlier this morning. I think it might be on its on its path to recovery. (In my opinion only)


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## Halba (26 March 2007)

WOW. Am feeling better that this is recovering in line with other iron ore companies. Bout time Darryn. I guess its just us two on this stock. Cheers have a good one.


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## Darryn (26 March 2007)

I guess so Halba, nice to see my paper losses dissapearing! I topped up with some options @ 1.65 recently. I reckon it should recover in the next few months - well at least I hope so. Good luck to you


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## Halba (26 March 2007)

Yep in this case averaging down would work, coz the size of the resource means it'll come good at some point.


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## 56gsa (26 March 2007)

this has come from 20c a year ago so retracement not unexpected - also looks like a bounce off the 61.8% level - any EWers want to comment on chart?

i think there was a bit of a run on this prior to u-spin off record date (6 march) as well...  by the way - havne't seen any dates on this yet - does anyone know when the applications will be sent / close etc?


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## Darryn (10 April 2007)

Alara prospectus at http://www.alarauranium.com.au/


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## Halba (10 April 2007)

Is the priority application form mailed out yet? I haven't received my app in the mail..anyone have?


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## Darryn (11 April 2007)

I have not received mine either, I'm sure it will come in post real soon.


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## the barry (11 April 2007)

Darryn said:


> I have not received mine either, I'm sure it will come in post real soon.




Announcement today saying they will be sent out later this week. Do you think this will be succesful/ over subscribed? I bought the 5000 shares for the priority entitlement. Interested on thoughts.


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## Dutchy3 (15 April 2007)

What a great TA stock .... Big White new air coming up? Signaling a resumption of the uptrend ... ?


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## 56gsa (8 May 2007)

Alara uranium float closes 8 May - listing 22 May as AUQ - the Bigrlyi deposit perhaps of most interest just near EME's deposit.

(i) Pampacolca (Peru) - Uranium
(ii) Bigrlyi South (Northern Territory) - Uranium
(iii) Mt James (Gascoyne, Western Australia) – Uranium
(iv) Mt Lawrence Wells (East Murchison, Western Australia) - Uranium
(v) Canning Well (Pilbara, Western Australia) – Uranium and Gold

_In specie_ distribution of 16 m AUQ shares to SRK holders in next 6 months

Results from iron ore drilling due May and June/July - last results showed large intersects of high grade ore near to surface - trying to establish a JORC for target mineralisation in two areas over 1bt iron ore

enough to keep the interest going over the next few months

chart looks good with all indicators heading in the right direction - like the recent bounce off a slightly higher support (1.95) than longer term one (1.85) - fibonacci levels work well with this from 32c low last year, and suggest a target of $3.25, with importants levels @ 2.35 and 2.70 which equate nicely with chart resistance levels

mkt cap approx $200m

... and for a laugh have a read of the last ann re directors interest - look at what they put for value/consideration - good to see a sense of humour 

enjoy


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## Punter (8 May 2007)

56gsa said:


> Alara uranium float closes 8 May - listing 22 May as AUQ - the Bigrlyi deposit perhaps of most interest just near EME's deposit.
> 
> (i) Pampacolca (Peru) - Uranium
> (ii) Bigrlyi South (Northern Territory) - Uranium
> ...




hahaha I notice that...is the transfer for Victor's son/daughter?

SRK 1bt of iron ore , thats gotta be something special isn't it?

Surprised by the lack of interest on this forum, but 56gsa got to hand it to you for this timely marketing of the stock..

Hmm $200m mkt cap, i pulled up FMG's mkt cap the other day, its over 6 billion  

Peru is a mining friendly country(apart from recent strikes) so should help 

Looks like it might break new highs on timely release of drill results. MArket sentiment for iron ore is good. FMG,RIO,BHP all recording cycle/new highs...


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## 56gsa (8 May 2007)

> hahaha I notice that...is the transfer for Victor's son/daughter?



i was thinking fiance?!  but no idea of victors family situation - could be his mother !?


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## 56gsa (23 May 2007)

trading halt today -- possibly may's drilling results on iron deposits?  ( i can't open ann so not sure if theres anything more in that?)


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## rhen (21 July 2007)

Doing some further research on SRK before posting and thanking Kennas for his astute observations on their most recent announcement, I came across this article:http://www.news.com.au/heraldsun/story/0,21985,22100680-664,00.html
which, in part, says:
_An initial statement about JORC reserves at its Apurimac project in Peru noted that "based on an iron ore price of approximately A$55 a tonne, the in situ value of 172 million tonnes of iron ore at this grade is approximately equal to $A9.5 billion." 
That statement had no sooner hit the ASX wires than it was followed by a "clarification", explaining that it may not be quite that simple. 
This value did not take into account "further evaluation and test work that will be undertaken to determine the economic recoverability of the mineral resource." _etc etc
Well, Fully Frank with John Beveridge writing for the Herald Sun, try being more faithful to the language...(and I quote) 
_In Situ Value represents a quantity of "Mineral Resources" multiplied by current Market Price of the resource (e.g. gold price, silver price, etc.). This is a hypothetical value of resources held by the Company underground. Extraction costs are not factored in. _
Had the company referred to _Frontier Value_??:
_Frontier Value (often referred to as Mine Asset Value) is calculated for only those company projects that have a completed feasibility or pre-feasibility studies. It represents in situ value of these projects less costs that are expected to be incurred in the extraction process. This calculation does not take into account capital costs of putting a mine into operation and the fact that it takes many years to extract a resource_. 
The company had not.
So what is the point of the article? Someone trying to talk down the asset??
I find this article condescending and insulting to investors. If one does not know what in situ value means and that there are other costs in extracting the ore, ..., then one should not invest in such companies.
Based on the facts as I interpret them, I purchsed some SRK shares and options.


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## dj_420 (1 November 2007)

No one has posted on SRK for quite a while. Anyone still holding?

I like the iron ore play with these guys and considering market cap around 250 million IMO this makes it a very cheap iron ore play.


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## rhen (1 November 2007)

dj_420 said:


> No one has posted on SRK for quite a while. Anyone still holding?
> 
> I like the iron ore play with these guys and considering market cap around 250 million IMO this makes it a very cheap iron ore play.




G'day DJ

Naturally, I'm still hanging in there.
Today's chart I believe to be positive. Though I can't say the same about the NMSA nor the NSDA.
GT Financial sounds positive on this sector in its most recent report.
All things being equal, the chart promises short term gains to me (but the keyword of course is "promises"!!)

have a great day,
rhen




Steffi Graf (1969-) U.S. tennis player

"You can have a certain arrogance, and I think that's fine, but what you should never lose is the respect for the others."


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## jonojpsg (19 March 2008)

Still not much talk about this one - read a recent ASX speeding ticket response which said they were in talks with third parties that would value them "substantially" greater than their current MC @ $2.38 per share.  

Given their SP is $2.40 at the mo, this might well be one to jump on for a short term gain.  Even if they don't sell up, their iron ore resource (JORC inferred of 172m tonnes) and aiming to set up a 42m tonne per year operation over the next three years sets them up to rival some of the bigger iron ore cos.  Certainly worth a look.

I hold (CFD anyway)


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## jonojpsg (1 April 2008)

Just interested to see what others think about SRK looking at selling their major asset?  If the deal goes ahead they will have almost double their current MC in cash   but not much else going for them.

Obviously they could give some or all of the money back to shareholders but this would leave them with not much to exist for. 

In the latter case, I would be quite happy to take $4 per share,which is about what it is worth


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## Kaizen (1 April 2008)

I sold a few today but still a few left.

It is hard to calculate the valuation as we need to know how much tax they will pay or if it is a scrip bid... Good result though.


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## hookon (7 April 2008)

Any one else really disappointed in the announcement & share price response.

Does it really take a two day trade halt plus a weekend to respond to media speculation?

Did they think the deal was going to be done but didn't?

Or are they shopping for a better price? Stating the price of sale is shorly an attempt to attract another party or up the price or make the party pay that price.

Does anyone else feel that it is also a cheap price?

Paydirt magazine says Strike was looking to have 600mt by Sept 2008.

With a fully diluted share issue of approx. 100million & sale price of US$450million AUS$514million according to one website. That would put it in the $5 mark on sale.

Yet only hit $3.10 & is back to $2.60-$2.70. I know its not signed off on but it shorly gives a market value to go off. I also know fair value is not always represented by share price.
But why not in this case? Even if it were not to proceed it would give a current value of the company which the share price should represent imo.

So has the deal started to fall through?

Geezer thought it was done deal about two weeks ago. Things not falling ino place as they should.

Lets hope this gets done sooner rather than later.

Also Prefeasabilty study due out as well. Are they withholding this due to sale?

Also resource upgrade due March/April. Is this maybe not as good as hoped or better? Are they selling with this included?

Need some clarification from SRK.

Feel free to respond & correct me.


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## kransky (8 April 2008)

SRK is great either way. if it doesnt go through then they will have 600Mt soon... with mcap of 213M

if the sales does go through then they will be cashed up majorly and will be able to tackle the other tenaments they have in peru. Apparently they have plenty..

with 500M in the bank they will be able to afford to develop a big project with no more raisings... 

looks good to me.. holding


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## arae (13 April 2008)

Capital gains tax paid on the deal would be 30% in Peru if I'm not mistaken. 

The latest offer made was US$650 million. Strike have a 68% stake which equates to US$442 million

US$442 million/92 x 100

= AU$480 million

AU$480 million x 70%

= AU$336 million

AU$336 million/ 86 500 000 shares

value per share = $3.89


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## Kaizen (14 April 2008)

arae said:


> Capital gains tax paid on the deal would be 30% in Peru if I'm not mistaken.
> 
> The latest offer made was US$650 million. Strike have a 68% stake which equates to US$442 million
> 
> ...




Don't forget the options they have on issue + if the options are issued they will receive cash and some have a high strike price. They also need to pay some money to get up to owning 68% of the project. I think they have an option to buy up to 68%


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## kransky (15 April 2008)

its more complicated than that i reckon.. 

what if you hold an asset longer than 12 months... 
what about costs incurred in developing the asset...

just when you think this one is going to submit to some sheeple selling.. buyers come in and snap up the bargains..


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## hookon (15 April 2008)

kransky said:


> its more complicated than that i reckon..
> 
> what if you hold an asset longer than 12 months...
> what about costs incurred in developing the asset...
> ...




I agree. In australia you would take off the cost of the asset on sale for your CGT.

Don't know about 12 month discount
a) If taxed in Peru the 12 month discount is an australian tax rule
b) If taxed in Australia a company is not eligible for the discount

Either way i believe there is an over estimate by previous thread on CGT Payable.

What do people think of the delays in announcing anything? Two day trade halt to talk about media speculation. Then nothing. Is deal falling through?

Where is the PFS due out in March as per UBS iron ore presentation?
Where is resources upgrade due in april?

Are they holding these off so only the purchaser knows?


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## crisstoff (27 May 2008)

I brought a few of these today as they appeal for various reasons.


- Great grades from their Peru Projects and Paulsens East in W.Aust.
- Have a resource of 172Mt @ 62.28% - Apurimac. They have a 68% interest.
- An updated resource is due for Apurimac as well as a Pre- FS.
- Aim to bring Paulsens East into production early 2009 - and Stage 1 (2Mtpa)at Apurimac in 2009.
- Historical estimates show large potential 1.2billion t+ -

Resource estimates from surface mapping and sampling by Peruvian
Ministry of Energy and Mines (1974) and Takahashi Trading (1961):

 Deposit 1 
Apurimac 
~730 Mt. 
62- 66% Fe. 

Deposit 2
Cuzco
~500 – 650 Mt.
64%+ Fe.


Now the concerns I have which I wish to research throughly before buying more are;

- Management. The recent and still possible sale of the Peru Fe Projects. I cannot understand why you would sell it considering the potential.
- JV partner.
- CAPEX for Stage 2 and 3.
- Community negoiations for access and future plans for surry pipeline....


Any comments would be appreciated, especially regarding management


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## Sean K (29 May 2008)

Trading Halt.

Looks like they're going to take up the option to increase their stake in the Peruvian projects.


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## 56gsa (29 May 2008)

interested to see this pop up again - if announcement excites market chart suggests it could be heading for blue sky...  ??  on the weekly struggling to close above $2.70 which has been a fib level since last year - if the $2.10 / $2.70 channel is bouncing between 38/61fib levels then could be headed for $3.70?

all will be revealed...


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## hookon (10 June 2008)

crisstoff said:


> I brought a few of these today as they appeal for various reasons.
> 
> 
> - Great grades from their Peru Projects and Paulsens East in W.Aust.
> ...




Management are a mistery. Some people like some don't.

I was  very unhappy  with PFS delays & the company making Resource upgrades due in Sept have every chance of being delayed going on the short history that i know.

They have however secured there 68% early which seems to be smart even though it has caused issues with other holders better solved now.

I am not strong on management myself. The sale announcements are strange @ the least.

I believe the same company who was looking @ buying could be a potential investor instead, as proposed in the announcment hence no further news.

If you haven't bought any extra yet now is a premium time.

PFS due very very shortly. Resource upgrade of major size due Sept & Price has dropped big time on legal issues. I have read these are to last 6 months but SRK has strong position. 

Believe sale was a good fall back as at the time only have small resource but potentail outways sale now. 

Only thing is Aussie hate anything foreign. If they don't know it they don't go it.

Good luck with your choice


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## crisstoff (10 June 2008)

Hi Hookon

Thanks for your comments. I got stopped out of my holding, but am looking to re-enter.

With the recent possible Court action it will keep the sp down imo. However there was a report from Pattersons today apparently that still puts this at a buy with a target of around $7 - from memory.

I agree with your comments about anything not in Australia is out of favour, but with recent comments form RIO and other companies that they are having to look to Africa and other locations for cheaper costs and new mining targets made result in a change. 

Anyway I still like SRK and imo its looking very cheap for the potential resources it has.


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## ta2693 (10 June 2008)

I am not very optimistic about the project in Peru.
The worker union in peru is notorious and no one want to invest in this country. 
unless something change in law or political ruling. Nothing huge is going to happen in peru. It is not my game.


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## hookon (12 June 2008)

ta2693 said:


> I am not very optimistic about the project in Peru.
> The worker union in peru is notorious and no one want to invest in this country.
> unless something change in law or political ruling. Nothing huge is going to happen in peru. It is not my game.




Don't know anything about Peru. But South America more known for the poor than the rich. 

D&C group could actually help us once we get shares sorted as they may have some power to get stuff done in Peru.

I think i will wait for the resources upgrades & hopefully that will spike the price near broker reports. If it does i think i'll ditch it. Was only in for a quick buck on sale with resource as back up.


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## hookon (12 June 2008)

crisstoff said:


> Hi Hookon
> 
> Thanks for your comments. I got stopped out of my holding, but am looking to re-enter.
> 
> ...




Yeah brokers giving some big prices which would be great. Obviously they need the resources to get near those prices. Hopeing for big spike when they do.

Court action needs some clarification. They need to tell us whats at stake but i think its that early even they don't know. They say only the IAC shares about 17% but i read the announcment as saying the purchase of those shares in IAC has breeched the shareholder agreement & therefore this the trigger to the options purchase being against the shareholder agreement. This would mean to me the options purchased would be in jeopardy.

Good luck as i think the SP now relects the issue & any postive news will increase the SP just not to the levels it should be.


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## grazzle (17 June 2008)

I am trying to find out about any recent  (last few days) research on the prospects for SRK. I have an accidental overload of stock with a large loss attached and would love to know if anyone could shed some light on the prospect of a bounce in the price at some point. Cheers.


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## hookon (23 June 2008)

grazzle said:


> I am trying to find out about any recent  (last few days) research on the prospects for SRK. I have an accidental overload of stock with a large loss attached and would love to know if anyone could shed some light on the prospect of a bounce in the price at some point. Cheers.




Spoke to management prior to announcment & they had said me queries would be covered in the announcment. Whcih they were to some degree.

Happy with the front foot approach. At very least we will get a result one way or the other instead of it being used as leverage when ever they feel like it.

Asked about PFS & he said it was in Santiago & was being assessed. Its Finished Management just working through it.

Said it will be out late June or first week July. This should provide a spike hopefully.

As for Resource upgrades i asked about the 600mt referred to in the paydirt article (SRK Website) by Ssept, he said were on track but it wont be on time (usual for SRK).

Will be quite time until PFS then until this legal issue is resolved.


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## grazzle (23 June 2008)

Thanks hookon.  Am hoping to offload some stock by end of July so provides a glimmer and something to hang on to for the rest of my holding. Cheers


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## hookon (26 June 2008)

grazzle said:


> Thanks hookon.  Am hoping to offload some stock by end of July so provides a glimmer and something to hang on to for the rest of my holding. Cheers




People who went the meeting yesterday said:

SRK Very sure they will win legal issue & even could be settled out of court soon.

PFS will be out in July. They didn't commit to a time frame. Obviously they need to review it & work through it. Don't want them to rush it as it is important.

Also JORC resource upgrade in July sounds like back end of July.

Wouldn't mind legal issue sorted out in July as well would make it a very good month.


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## grazzle (3 July 2008)

Looks promising already if the last few days are an indication SP wise. Hopefully the whole sector isn't going to turn turtle on us..


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## pan (4 August 2009)

Positive Settlement of Disputes in Peru.

Look like the share is running on the back of the positive settlement.


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## pan (11 August 2009)

pan said:


> Positive Settlement of Disputes in Peru.
> 
> Look like the share is running on the back of the positive settlement.




continuing to run, asx query yesterday. mentioed talks with china little resistance at the moment....


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## jonojpsg (25 August 2009)

Has taken off in the last couple of hours - last trade 96c from open of 82c.  Nothing new announced but maybe something concrete from the talks w China in the wind??

Wish it would do an MMR/BUY


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## wymekat (27 November 2010)

I bought these shares under recommendation in April.  I have now lost lots. It has gone down 50 cents a share. Any idea whether they will improve or should i just cut my loses and jump ship?
Would appreciate any response


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## Buckfont (27 November 2010)

wymekat said:


> I bought these shares under recommendation in April.  I have now lost lots. It has gone down 50 cents a share. Any idea whether they will improve or should i just cut my loses and jump ship?
> Would appreciate any response




wymecat, I`ve held SRK for nearly 3years, only a small holding but it has been a shocker. Legal wranglings etc. Dont know your holdings but I`m just keeping in them the cellar drawer. And like you it was a recommendation from an insto in the know.

They have paid off handsomely with other recos. Just one of those things I guess. 

Best of luck


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## springhill (19 August 2012)

MC - $18m
SP - 12.5c
Shares - 142m
Options - NQ
Cash - $20.6m (+ holds loans to the value of $39.25m)

Top 20 - 72.7%

I have to say, I am not bullish on IO over the next few years. The fundamental positions of the MC:Cash ratio and the sheer volume they have on hand for an MC this size make SKR hard to ignore.
I am not adverse to taking an interest in Indonesian coal, will have to wait for a resolution. remains to be seen whether they will even bother with it, or use it as a cash cow.

Strike Resources is an Australian-listed resources company with two principal projects in the attractive bulk commodities market.
Strike’s Apurimac and Cusco Iron-Ore Projects in PerÃº are large-scale iron ore projects, with Apurimac in the pre-feasibility study stage. Strike also holds warrants in Canadian-listed Peruvian explorer Cuervo Resources Inc (Cuervo) which, if exercised, would allow it acquire up to 49% of Cuervo.
The Company is seeking to establish a 15 - 20 million tonne per annum (Mtpa) operation in PerÃº based on current iron ore mineral resources totalling 374Mt and potential access to additional resources of 179Mt3 held by Cuervo in Cusco, all with significant exploration upside.
Strike holds 100% of the rights to mine a coal concession near Berau, Indonesia, subject to a royalty to the concession owner. Negotiations aimed at settling a dispute with the concession owner continue.

*Strike Makes AF Shoot-out Price Offer*
• Strike submits shoot-offer to acquire 50% interest in AF from D&C for total cash consideration of US$3.2 million
• D&C has until 2 October 2012 to provide a counter-offer, which would include the repayment of Strike’s loans to AF of approximately US$33.8 million
• Focus at AF remains on establishing community relations programs at its key iron ore projects

*June Quarter Highlights*
• Shoot-out provision in Settlement Agreement exercised facilitating potential 100% ownership of Apurimac Ferrum (AF)
• Drilling underway at Cerro Ccopane (Cuervo) project with five holes completed and assay results expected to flow shortly
• Rothschild appointed as corporate advisor and engagement with potential strategic investors in AF commenced
• Shoot-out offer price being prepared for lodgement before 6 August
• Strategic Plan to gain access to Opaban project progressing, though local opposition may take some time to address
• Significant progress at Santo Tomas (Cusco) with IP and mapping programs completed, environmental studies well advanced and successful community consultation process for drilling approvals
• Negotiations continue regarding settlement of Berau dispute
• Receipt of US$1.9 million from D&C Group (D&C) ensures strong cash balance retained with A$20.6 million in cash and approximately A$34 million and CAN$5.25 million in secured loans to AF and Cuervo respectively

*Berau Thermal Coal Project – Indonesia*
During the quarter discussions continued with Strike’s Indonesian partner with a view to resolving the dispute between the parties. While these discussions are inconclusive at this time, the Company continues to work towards a resolution, with good progress in what have been challenging negotiations made during the quarter.


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## springhill (29 August 2012)

*Cuervo Resources Inc. – Further Bob 1 Drilling Results from Holes 3 and 4*

● Further drilling at Bob 1 intersects magnetite-rich zones along strike from BDH12-02 which recorded 182 metres at 39.6% Fe
● 156 metres at 40.9%Fe in BDH12-03 and 188.9 metres at 32.6%Fe in BDH12-04
● Assays from two further holes expected shortly


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## Ann (13 March 2019)

This is one on my Lithium list. May get some life puffed into it after all these years of going nowhere and doing nothing. I may be wrong of course! 

*Strike Resources acquires highly-prospective lithium brine project over commercially-proven aquifer in Argentina*

Perth-based Strike Resources (ASX: SRK) has entered into an agreement to acquire a majority interest in the highly-prospective Solaroz lithium brine project in northwest Argentina.

The project – which sits within South America’s famed ‘lithium triangle’ – comprises a landholding of 120 square kilometres, most of which is adjacent to concessions held by Lithium Americas Corporation and minerals giant Orocobre (ASX: ORE). More...


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## Dona Ferentes (23 March 2021)

Strike to spin-out its lithium and graphite assets through the listing on ASX of its wholly owned subsidiary, Lithium Energy Limited (proposed ASX Code : LEL)  
*Lithium Energy *will have a battery minerals focus via its flagship Solaroz Lithium Project (Argentina) (90%) and Burke Graphite Project (Queensland) (100%)
Lithium Energy will undertake an IPO to raise $9 million through the issue of 45 million shares at $0.20 per share, with Canaccord Genuity appointed as Lead Manager and Underwriter to the IPO 
Strike will retain 43% of Lithium Energy post-IPO, delivering increased shareholder value to Strike shareholders
_- while the iron is hot_


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## Dona Ferentes (9 May 2021)

Dona Ferentes said:


> Strike to spin-out its lithium and graphite assets through the listing on ASX of its wholly owned subsidiary, Lithium Energy Limited (proposed ASX Code : LEL)
> Strike will retain 43% of Lithium Energy post-IPO, delivering increased shareholder value to Strike shareholders
> _- while the iron is hot_



The $9M IPO (pursuant to a Prospectus dated 30 March 2021) was fully underwritten and was significantly oversubscribed.  Eligible Strike Resources (SRK) shareholders who applied under the pro-rata Strike Priority Offer will be issued their maximum entitlements. 

 At completion of the spin-out, Strike Resources will hold 34.4 million shares in Lithium Energy comprising a 43% shareholding.


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## aus_trader (30 June 2021)

Entered as 2nd choice for July comp. Some positive announcements being made of late...


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## peter2 (1 May 2022)

Update on *SRK* as it appeared in my HVBB weekly scan. 







The haul road to the highway for the Paulsens East IO project is almost complete. *SRK* will then be able to get their IO to Port Hedland for export. Did you notice that* LEL* shares have spiked higher.


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## greggles (12 September 2022)

SRK up 18.18% today to 11c on no news. I think the market is finally waking up to the value here. SRK has, in my opinion, been oversold. Delays and a falling iron ore price has seen SRK sold off hard.

I suspect we will see a strong recovery once China opens up again and demand for iron ore starts to improve.


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## peter2 (12 September 2022)

*SRK* have paused iron ore shipments due to the rising costs and decreasing margin. IMO today's price rally is due to the rising price of *SRK*'s investment in *LEL* (lithium).  Notwithstanding *LEL,* other iron ore producers also went higher today.


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## greggles (12 September 2022)

peter2 said:


> *SRK* have paused iron ore shipments due to the rising costs and decreasing margin. IMO today's price rally is due to the rising price of *SRK*'s investment in *LEL* (lithium).  Notwithstanding *LEL,* other iron ore producers also went higher today.




Thanks for filling in some blanks there. I was following SRK early last year but it slipped off my radar this year due to the sell off. I will go through recent announcements and bring myself up to speed.


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