# EER - East Energy Resources



## Miner (11 November 2007)

Hi 
This share IPO prospectus has been lodged with ASX .
Appears to be a good share and the promoters are the same people who promoted RMA ENergy.
Does any one have any good / bad report against /for of this IPO?

Regards

Miner


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## Wysiwyg (11 November 2007)

*Re: East Energy Resources*



Miner said:


> Hi
> This share IPO prospectus has been lodged with ASX .
> Appears to be a good share and the promoters are the same people who promoted RMA ENergy.
> Does any one have any good / bad report against /for of this IPO?
> ...




Nup, no knowledge from me but without being too influential i do think your `tag`  







> Miner



 tells people that you are a)stressed or b)want people to think you are stressed.besides  that wall is emotionless.


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## Sean K (11 November 2007)

*Re: East Energy Resources*



Wysiwyg said:


> Nup, no knowledge from me but without being too influential i do think your `tag`   tells people that you are a)stressed or b)want people to think you are stressed.besides  that wall is emotionless.



 In the very least, I am confused....

Miner,

What's the stock code, and can you tell us more? Links?

Cheers.


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## doctorj (11 November 2007)

*Re: East Energy Resources*

I can't see a proposed listing date or a prospectus on the ASX website.

Have you got an electronic copy?


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## surfingman (11 November 2007)

*Re: East Energy Resources*

East Energy Resources Limited
Offer Opening 15th Nov
offer closing 5th Dec
expected listing date 13th Dec
$0.25 	

East Energy Resources is a coal focused exploration company which has recently acquired two exploration projects in Queensland, the Norwich Park and Blackall projects. These Projects are considered prospective for coal measures and the Company intends to undertake exploration work on the projects with the aim of further defining the coal measures and proving up a coal resource in accordance with the JORC Code.

http://www.eastenergy.com.au/

or prospectus
http://www.eastenergy.com.au/download.html


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## shares (12 November 2007)

*Re: East Energy Resources*

just because of this



Miner said:


> ... promoted RMA ENergy ...




East Energy will probably be incredibly hard to get into and if the same people work their magic like they did on RMA it will probably go up heaps

RMA (CODE:RMT) is currently trading at 1.81 over an issue price of 25 cents


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## Miner (12 November 2007)

*Re: East Energy Resources*

thanks all who participated in East Energy Resources thread . Sorry I could not see this to respond but saw you already got links to the prospectus and website.
Yes, the promoter of RMA are very smart and I am hoping they would do something to ramp the price to at least 50 cents within one month from listing.
But with only a small part offered for public stakes are high. Who has a friendly broker (BPS is hopeless as far I am concerned) who may have some holdings to distribute others ?

Regards


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## Miner (3 January 2008)

*Re: East Energy Resources - EER*

Hmm! In a sagging ASX market and with a high fall in DJI the East Energy Resources- EER has  jumped to 75 cents  today  from yesterday's closing price of 67 cents. Should there be any speeding ticket from REACTIVE ASX WATCH DOG ?
* [B]Extract from ASX *
Closing prices are displayed for the last 5 days on which the security traded on ASX within the last 6 months.

Date             Last  % Change  High  Low  Vol *  
02 Jan 2008 0.640  4.92% 0.670 0.615 160,463 
31 Dec 2007 0.610  5.17% 0.640 0.580 82,037 
28 Dec 2007 0.580  9.43% 0.640 0.540 90,610 
27 Dec 2007 0.530  6%     0.570 0.505 100,000 
*24 Dec 2007 0.500  13.64% 0.520 0.440 100,000 *
What is going on here ? Volume is rather low and is it management buying to push the price up ?

Considering it is only about a month from listing with few days market closed the hype is extraordinary .
Any update from you folks in the forum ?

Regards


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## Bushman (18 June 2008)

EER have started drilling at the Blackall prospect in the Adavale Basin in Qld. 

Non-JORC compliant target is 70-90 mt of thermal coal. MD believes there is the scope to 'significantly' increase the resource. EER will be fast-tracking JORCing of Blackall. 

Also hold another tenement in the Bowen Basin. 

Coal is hot even though Qld government increasing royalties is not. Sorry - some pre lunch poetry.


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## gresim25 (23 April 2009)

It looks like another one ready to pop? 

nice announcement indeed - followed by nicer volume...

*East Energy Resources doubles thermal coal resource at Blackall Coal Project to 1.2 billion tonnes*

East Energy Resources (ASX:EER) today announced the company had doubled JORC inferred resource at its Blackall Coal Project in Queensland to 1.2 billion tonnes of raw thermal coal.

Further infill drilling is likely to upgrade the coal resource from inferred to indicated.  The company said the coal seams at Blackall are low rank, low energy coals.  Washability data indicates a medium ash product suitable for domestic thermal coal markets.

East Energy said it would work to upgrade the resource status from inferred to indicated after further infill and exploratory drilling.


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## Miner (24 April 2009)

This EER puzzles me.
The original promoter resigned .
Terrence Byrt is also the promoter of RMA which is now going south as far as it could .
the share prices started to jump and excellent announcement after Terence resigned. As the Chairman when announcment is good why he resigned ?
And look at the volume  qualifies them to get a speeding ticket from EER if there is any acquistion planned

23 Apr 2009 0.205 36.67%  0.250 0.150 *1,005,842 *22 Apr 2009 0.150 20%  0.150 0.125 *99,000 *
21 Apr 2009 0.125 -3.85%  0.125 0.125 *30,000 *

Disclaimer 
I hold a small parcel from the IPO stage


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## Miner (24 April 2009)

As I said half an hour ago things are rather strange for EER.
Good result is understandable but the volume of transaction all of sudden raises question so is the downslide with significant volume compared to its trading volume in the begining of this week.  In couple of hours the volume is so much !! 


EER 0.160 * -21.95%*  0.145  0.160  0.205  0.205  0.160  *267,420  *


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## enigmatic (24 April 2009)

Not really to keen on this one..
currently it has 22,300,002 shares 

with it currently 89.4million non-renounceable rights issue with 178.8million free options.

the rights issue is for 10cents and options 20cents till march 2011.. which to me means the shares are going to be diluted.


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## jonojpsg (30 April 2010)

Spotted this one the other week when it was on the top movers list (on again today, up 50%) - looking at doubling their inferred coal resource to 2.4bn tonnes!  Don't know much about coal but that seems an awful lot of coal for a company valued at about $20m??  Anyone got any input to clarify what 2.4bn tonnes is worth?


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## DVEOUS (30 April 2010)

jonojpsg said:


> Spotted this one the other week when it was on the top movers list (on again today, up 50%) - looking at doubling their inferred coal resource to 2.4bn tonnes!  Don't know much about coal but that seems an awful lot of coal for a company valued at about $20m??  Anyone got any input to clarify what 2.4bn tonnes is worth?



This takes less than 10 seconds to answer, when doing a Google search.
http://www.indexmundi.com/commodities/?commodity=coal-australian&months=60
Approx USD$100 per metric tonne.
Subtract production costs per tonne. 
You do the math.


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## McCoy Pauley (30 April 2010)

Is this the company in which Noble Group took ~20% stake this week?  I'm too tired to look that up, but it seems to ring a bell.


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## jonojpsg (1 May 2010)

DVEOUS said:


> This takes less than 10 seconds to answer, when doing a Google search.
> http://www.indexmundi.com/commodities/?commodity=coal-australian&months=60
> Approx USD$100 per metric tonne.
> Subtract production costs per tonne.
> You do the math.




Yep, thanks for that   I'm more interested in some measure of what dollar value other coal companies are being given for large inferred resources, eg what EV/Mt do other junior coal companies trade at?

CHeers


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## springhill (1 May 2010)

jonojpsg said:


> Yep, thanks for that   I'm more interested in some measure of what dollar value other coal companies are being given for large inferred resources, eg what EV/Mt do other junior coal companies trade at?
> 
> CHeers




This may help, read an issue of Resource Stocks the other week and PRE-GFC analysts assigned 30cents of market cap per ton of unmined coal..... not sure how this takes into account the number of shares on issue, but i believe thats what was in the publication.


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## jonojpsg (2 May 2010)

springhill said:


> This may help, read an issue of Resource Stocks the other week and PRE-GFC analysts assigned 30cents of market cap per ton of unmined coal..... not sure how this takes into account the number of shares on issue, but i believe thats what was in the publication.




That's the sort of info I was after, thanks springhill

Even if we knock that back to a post-GFC rate of 10c per tonne, that's still at least a EV of $120m potentially rising to $200m if they prove up 2bn tonnes.  *That's* why I'm interested, and surprised that the SP is not higher?


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## springhill (2 May 2010)

jonojpsg said:


> That's the sort of info I was after, thanks springhill
> 
> Even if we knock that back to a post-GFC rate of 10c per tonne, that's still at least a EV of $120m potentially rising to $200m if they prove up 2bn tonnes.  *That's* why I'm interested, and surprised that the SP is not higher?




Jono, going by the coal specs i have my eye on i believe the market factors in the full 30c to the market cap.
Example: Bathurst Resources
100 million shares on issue
Targeting a minimum 50mt coal
50mt x 0.30 = $15 million

Current share price of Bathurst is 0.155 giving it a market cap of $15.5 mill.
Upper end of target atm is 90mt if this proves should equal MC of $27 mill or 0.27 cps.

So if you use 10c you may be deceiving yourself with your calcs and wrongly seeing a lot more growth than there really is. To be safe i'd use 30c, just my opinion.
Good luck!


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## Accaeric (11 April 2011)

Multibagger potential -EER

Based on today's coal price, EER's coal resource worth around $150 billion. But its market value is only around $63 million ($72m - $9m cash).

BND latest presentation (5/4/11) shows it has 1.483 billion tons coal with market cap of $750 million. 

BND has around 12% more coal than EER,
BND's market cap is 1190% of EER's.

Althouth they are in different stages of exploration, but EER will update JORC resource by the end of April, and should not be such heavily undervalued.

Disclosure: Stock hold for LT.
DYOR.
GOOD LUCK TO ALL.
Be fearful when others are greedy and greedy when others are fearful - Warren Buffett


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## L-investor (8 November 2011)

current resource in situ valued 0.035c per tonne a long way off PRE-GFC analysts assigned 30cents of market cap per ton of unmined coal.
*
and resource upgrade to come any day now.*


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