# PXR - Palace Resources



## imajica (5 November 2006)

just thought it would be useful to start a thread where people could post their views on upcoming IPO's

what do people think of PXR - Palace Resources


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## RichKid (5 November 2006)

*Re: PXR- Palace Resources IPO*



			
				imajica said:
			
		

> just thought it would be useful to start a thread where people could post their views on upcoming IPO's
> 
> what do people think of PXR - Palace Resources




Hi imajica,
It's been the convention on ASF for awhile now to discuss IPO's under the relevant stock code/name so I have moved your thread to this sub-forum. 

Here is some info from the ASX site on the proposed listing: http://www.asx.com.au/asx/floats/UpcomingFloatDetail.jsp?asxcode=PXR


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## Junior (24 November 2006)

What's the deal? Anyone know when trading will begin on this stock?


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## mick2006 (5 January 2007)

*palace resource (pxr)*

Have been doing a bit of research and building up a nice holding in this one has some nice uranium exploration grounds in the N.T.  Just noticed today that the market seems to be waking up to this one up 13% with less than 70000 shares left available.

Anyone have any thoughts on this one?


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## YOUNG_TRADER (21 February 2007)

Another option rights issue
*PXR*
*
Mkt Structure*
*
Shares*
45m fully diluted
Mkt Cap @ 30c = $13.5M
Mkt Cap @ 40c = $18m
Mkt Cap @ 50c = $22.5m
*
Cash*
$3m

*
Projects*
*
Tanami* Uranium, 100%, N.T.
The Uranium licences in N.T. are surrounded by and abut NTU's Tanamai Super project, given NTU's mkt cap $60m+ close to $100m when opies are issued I'd expect PXR to draw a bit of attention when work commences on its Tanami Uranium projects


Marla [/B] Uranium, 100%, N.T.
Not too sure about this one



Lake Teague [/B] Uranium, 100%, W.A.
Not too sure about this one either

*
Option Rigths Issue*
3:4 Option Rights Issue, 
Ex Date 22nd Feb, I must buy before 21st Feb being Wednesday to be eligible
Record Date 28th Feb, ie must hold until 28th Feb to be eligbile
Options will be 20c options expiring 30/6/12

Example Hold 134k PXR = Get right to buy 100k PXR @ 1c = $1000

On list If PXR=30c PXRO=10c + premium 

Enjoy!


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## greggy (21 February 2007)

YOUNG_TRADER said:
			
		

> Another option rights issue
> *PXR*
> *
> Mkt Structure*
> ...



Low market cap for a stock with so many uranium leases in the NT, the hot place to be. Thats why I bought into NRU which has uranium leases in both WA and NT. The oppies have a very long expiry date (30/6/12).  I'll keep an eye on this one, YT.
DYOR


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## YOUNG_TRADER (21 February 2007)

Thats so funny,

Company revises timetable so that

Ex date = 26th Feb not 22nd Feb

And Record Date = 2nd March not 28th March

And fresh round of buying starts, lol

I guess people only saw the 2nd rights issue ann


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## YOUNG_TRADER (22 February 2007)

I know that its running up on the option rights issue, but still since 37c was previous resistance/all time high, this may have broken out into a new channel?

Unsure as buy depth at 37c ain't exactly huge, will have to wait and see


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## swerve5000 (22 February 2007)

hi,

im new at this, so be gentle!

assuming no changes to fundamentals/ta, i cant see why shorting this stock after the holding date for the options issue passes is a bad idea.

havent made any cfds yet, but was thinking about having a go at this.

cheers,

mike.


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## bvbfan (22 February 2007)

I don't think this stock is available on CFD to short anyway.

Too small


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## YOUNG_TRADER (23 February 2007)

LOL no way you'd be able to find CFD's on PXR

But looks like late/last minute buyers are coming in,

Funnily enough it has so far (ie only 2 days so far) held above previous high of 37c, 

No doubt the U grounds next to NTU are the value drivers here, I wonder since Areva beat Mega to the JV with NTU, if Mega are taking a look over at PXR, I wouldn't rule it out because Areva wanted in on NTU's Gardiner/Tanamai 'Super Project' and PXR's grounds are next to (literally) this.

So hey Mega take a look over here!


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## Sean K (23 February 2007)

YOUNG_TRADER said:
			
		

> No doubt the U grounds next to NTU are the value drivers here, I wonder since Areva beat Mega to the JV with NTU, if Mega are taking a look over at PXR, I wouldn't rule it out because Areva wanted in on NTU's Gardiner/Tanamai 'Super Project' and PXR's grounds are next to (literally) this.
> 
> So hey Mega take a look over here!



YT, is their tenament in a channel of the same sediment or just next to? This would be important to know I think. Sean


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## dubiousinfo (23 February 2007)

Today is the last day to buy for anyone wanting rights issue of 20c Opies @ 1c as it goes ex on Monday. Plenty of intrinsic value in this one, will be interesting to see how it goes on Monday.

I hold.


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## YOUNG_TRADER (23 February 2007)

Lots of very large buy orders popping up, if they want to get filled I reckon they'll have to go as high as 40c,

Kennas not sure, take a look at where they're Tanami projects are, use grid references as I did, then take a look at NTU and compare grid refernces, from memory it was on the Lower right side of NTU's Tanami Super project


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## dubiousinfo (23 February 2007)

This is really starting to get interesting, now trading at 40c with no real resistance and very little in the sell depth.


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## YOUNG_TRADER (23 February 2007)

YOUNG_TRADER said:
			
		

> Lots of very large buy orders popping up, if they want to get filled I reckon they'll have to go as high as 40c,



And those 2 big 200k and 250k @ 38c are yet to move up and try get filled


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## YOUNG_TRADER (23 February 2007)

From what I can tell those big orders dropped off screen and have been coming on in chunks taking out sellers, 

I don't think all 450k has been filled so the question is with 1.5hrs till close, how far up will they go to get filled?


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## YOUNG_TRADER (23 February 2007)

Well they keep coming on and taking out any big sellers, ie 100k ordes get chomped up

1hr to go


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## YOUNG_TRADER (15 March 2007)

Well PXR like some got absolutely smashed post rights during correction, from 45c down to 20c now,


RM Research have just released a report comparing PXR to NTU,

Worth a read http://www.palaceresources.com.au/reports/news-articles.html
2nd Report

_
Investor interest is likely to remain high with companies such as Northern
Uranium (ASX: NTU), who hold adjacent uranium tenements to Palace in the
Tanami Complex, is likely to remain high. Notably Palace’s undiluted market
capitalisation is only around A$12m compared to A$66m  (undil) for NTU._

_
CONCLUSION
The presence of multiple radiometric anomalies supported by anecdotal evidence from previous explorers in the Tanami of additional unreported (and possibly unrecorded) uranium anomalies suggests that the prospectivity of these tenements is under-rated. The market interest in uranium and investor interest in nearby Northern Uranium (ASX: NTU) suggest that market interest in Palace is likely to build as exploration moves into gear._


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## nizar (15 March 2007)

YOUNG_TRADER said:
			
		

> Well PXR like some got absolutely smashed post rights during correction, from 45c down to 20c now,
> 
> 
> RM Research have just released a report comparing PXR to NTU,
> ...




YT, this one looks good, and youd think at this market cap its hard to go wrong (though iv seen SAU at this market for ages b4 it bolted and EVE much the same) but id like to see it turn and volume pick up on the rise before doing anything...


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## YOUNG_TRADER (15 March 2007)

Fair enough Niz, I understand your strategy of waiting for liquidity, 

Still at 20c looks ridiculously cheap, you'd think Areva and Mega who are big backers of NTU would take a look next door at PXR, especially Mega who didn't get the JV with NTU, especially since PXR is trading at 1/5th of NTU's Mkt Cap atm


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## YOUNG_TRADER (25 March 2007)

The overlooked U explorer with grounds next door to NTU trading at a mkt cap that is about 1/6th of NTU's now!

All it needs to explode will be for Mega or Areva to approach them, high probability of this occuring given they are working next door, I like to call this theory 'nearology'


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## YOUNG_TRADER (5 April 2007)

YOUNG_TRADER said:


> Fair enough Niz, I understand your strategy of waiting for liquidity,
> 
> Still at 20c looks ridiculously cheap, you'd think Areva and Mega who are big backers of NTU would take a look next door at PXR, especially Mega who didn't get the JV with NTU, especially since PXR is trading at 1/5th of NTU's Mkt Cap atm




Fundamentals have not changed, very very cheap mkt cap when compared to NTU next door, depth suggests its ready for a run,

A N.T. U company with a mkt cap under $15m just doesn't make sense!


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## Sean K (5 April 2007)

Chart wise this looks to be turning. Bullish last 3 days. MACD looks VG. As does Stochs. I like it when these things align.


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## YOUNG_TRADER (5 April 2007)

BUY SELL Depth looks even better now, very few sellers, maybe somethings brewing?


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## Sean K (5 April 2007)

Being chased up a little now. That chart I drew earlier is going to look very different if this keeps up. I hope it's not ASF chasing it. Volume is so low there should be opportunties to get in. On the other hand...


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## mmmmining (5 April 2007)

I did read out a research report by RM. I like PXR, But I am not a big fan for greenfield project anymore.

The only exception is looking for companies with uranium projects that worth absolute nothing such as SMC type, a gold explorer with uranium at backyard. 

Another one I put on notice is EDN. It has a very similar statement as SMC, and are reviewing the historic data.

There are a couple of well-known copper explorers/producers with uranium assets, such as MRX, URL, GSE, .....

I have identified DGR just a couple of weeks ago. People are buying the moly story atm, and the uranium project worth nothing currently.

My focus has shifted to near-term producer. I knows, I am no going to make a killing, but a few percent here and there is OK with me.

Good luck with PXR, at least has 10 bagger potential as most greenfield projects.


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## Sean K (10 April 2007)

Has continued to move since last chart. MACD, Stochs and volume aligning to look bullish to me. Volume still not huge, but improving. Might be just overlooked. 

(holding)


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## YOUNG_TRADER (10 April 2007)

Not many sellers left, but then again buying isn't tha strong either, volume as Kennas says is avg, but it could rocket on news,

Has been heading up though the last few days, news to come soon? ? ?


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## greggy (10 April 2007)

YOUNG_TRADER said:


> Not many sellers left, but then again buying isn't tha strong either, volume as Kennas says is avg, but it could rocket on news,
> 
> Has been heading up though the last few days, news to come soon? ? ?



Hi YT,

I had another good look at this stock over the weekend.  With this stock its alll about location, location, location.  It has ground next door to Northern Uranium in NT.  Besides uranium exposure in the NT it also has ground prospective for uranium in WA. While its work will be at the initial stage, PXR may well be seen as a cheap alternative to NTU for NT exposure.  A JV down the track might happen shoud NTU find something big next door.  I haven't bought any PXR as yet, but am monitoring the situation very carefully.
PXR management see the company as being a focussed uranium play.  PXR went up well again today.  Good luck to all holders.
DYOR


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## purple (16 April 2007)

very very thin trading on PXR....

everyone watching and waiting eh?


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## YOUNG_TRADER (17 April 2007)

Ann out, PXR and New Age are about to start picking up grounds in Africa, sounds good to me, only adds to its exploration appeal  

Mkt Cap still under $20m


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## greggy (24 April 2007)

YOUNG_TRADER said:


> Ann out, PXR and New Age are about to start picking up grounds in Africa, sounds good to me, only adds to its exploration appeal
> 
> Mkt Cap still under $20m




Positive announcement.  Good to see PXR looking at its options. Most other uranium explorers with land in Africa have done very well indeed.  But don't forget that PXR still has a sizeable landholding right next door to NTU.  With the share price around the 24c mark this stock has plenty of potential. Yet it has been well and truly overlooked by the market.
DYOR


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## YOUNG_TRADER (24 April 2007)

greggy said:


> Positive announcement.  Good to see PXR looking at its options. Most other uranium explorers with land in Africa have done very well indeed.  But don't forget that PXR still has a sizeable landholding right next door to NTU.  With the share price around the 24c mark this stock has plenty of potential. Yet it has been well and truly overlooked by the market.
> DYOR




I couldn't agree more Greggy, PXR appears very very cheap when compared to its next door neighbour NTU, its move into Africa is very promissing, I think patience is required here as the mkt has not yet realised its potential


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## greggy (24 April 2007)

YOUNG_TRADER said:


> I couldn't agree more Greggy, PXR appears very very cheap when compared to its next door neighbour NTU, its move into Africa is very promissing, I think patience is required here as the mkt has not yet realised its potential




Hi YT,

Interest may well increase once more people begin to realise that PXR is next door to NTU.  NTU has had an amazing run, but not too people out there understand where PXR's land is located.  I'm hoping down the track that the French will also take an interest in PXR due to its proximity to NTU.  The overseas move IMO is just icing on the cake.  Hence, today I've put my money where my mouth and bought a considerable number of options in PXR.
The PWR options expire on 30 June 2012, that's over 5 years to go.  They will cost 20c to convert into shares.  They last traded at 8.3c.
DYOR


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## motion (24 April 2007)

seems to be alot of sellers and not many buyers... I'm interesting in this stock but not to much info on it.... 

Where did you hear about the PWR options...

Thanks


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## greggy (24 April 2007)

motion said:


> seems to be alot of sellers and not many buyers... I'm interesting in this stock but not to much info on it....
> 
> Where did you hear about the PWR options...
> 
> Thanks




Hi motion,

PXR recently had an option issue (Code: PWRO).  Besides looking at this thread, take a look at PXR's website. On it you'll find a research report by RM Research.  With this stock its all about location, location, location.  PXR management also consider PXR to be a pure uranium focussed company. 
In terms of quantity, the buyers still out number the sellers. As for the sellers there is no seller with more than 55,000 shares to sell, hardly a worry.  
DYOR


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## motion (24 April 2007)

thanks greggy for the info I will have a read of there site... =


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## greggy (24 April 2007)

motion said:


> thanks greggy for the info I will have a read of there site... =




Hi motion,

To save you some time, the following is a summary of the RM Research report:

_ Palace Resources Limited (“Palace”) holds 100% of the uranium rights to a
large land holding (approximately 12,400km²) in Northern Australia that is
highly prospective for uranium mineralisation;
_ The ground position includes 100km of strike of unconformity-style targets
(Alligator River and Athabasca Basin type deposits) as well as a number of
secondary calcrete (Yeelerie -type) and palaeo-channel targets;
_ A number of geological targets delineated to date have large coincident
uranium radiometric anomalies – including a 7km radiometric anomaly within
a palaeo-channel at Lake Teague;
_ The Company’s ground package has only been lightly explored for uranium
as programmes were curtailed by Federal Government policy in the 1980’s;
_ Palace’s Tanami and Lake Teague Projects are close to uranium
mineralisation hosted in very similar geological settings;
_ Previous sampling at the Marla Project has uncovered anomalous levels of
uranium;
_ A number of near-surface anomalies at the Tanami and Lake Teague
Projects warrant immediate investigation with good potential to delineate drill
targets in the near term;
_ Palace has a highly experienced Board of Directors with extensive exposure
to the Australian resource industry;
_ The Company will also continue to investigate new project acquisition
opportunities in the resources sector with the aim of investing in initial
exploration and seek joint ventures once exploration targets have been
sufficiently defined - therefore maximizing returns on funds invested;
OUTLOOK
_ Palace is a NT and WA focused uranium explorer with a large land holding of
prospective exploration ground in Northern Australia. The Company’s
projects have surface anomalies requiring immediate investigation with early
potential drill targets at the Tanami and Lake Teague Projects;
_ Anecdotal evidence from previous explorers in the Tanami Complex suggest
that many previously identified radiometric anomalies and possibly drill and
surface sample results were not recorded due to the negative sentiment
towards uranium together with other sensitivities suggesting to RM Research
that the prospectivity of the region is significantly higher than previously
thought;
_ Investor interest is likely to remain high with companies such as Northern
Uranium (ASX: NTU), who hold adjacent uranium tenements to Palace in the
Tanami Complex, is likely to remain high. Notably Palace’s undiluted market
capitalisation is only around A$12m compared to A$66m (undil) for NTU.
DYOR


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## motion (24 April 2007)

Greggy, thanks for the info and trouble.. well I'm onboard now so I'm looking forward to watching this baby.... thanks alot for this....


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## motion (24 April 2007)

Hi, 

why the big jump in PXR up 13% in 5 minutes... any ideas?


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## greggy (25 April 2007)

motion said:


> Hi,
> 
> why the big jump in PXR up 13% in 5 minutes... any ideas?




Hi motion,

PXR rose 13% in 5 minutes at the end of the trading day on very thin turnover.    
Things are a little quiet, but I can't complain. It gave me the opportunity to buy a considerable number of PXR options.  Being next door to NTU in the NT is potentially a big bonus. Any success by NTU on its ground next door to PXR may well have a very positive effect on PXR's share price.  News of a possible African uranium play down the track is also an interesting prospect.  This is a stock, as YT has said, that you just have to be patient with.  
DYOR


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## greggy (26 April 2007)

I find it amazing with all recent NT uranium floats having done extremely well, yet PXR is still stuck near its issue price.  It has a huge landholding next door to NTU in NT yet is still trading quietly.  It also has the promising Lake Teague Uranium Project in WA. I've acquired a total of 555,000 options in PXR over the last couple of days as I feel its been well and truly overlooked and has considerable potential. One just has to be patient.  Any other views?
DYOR


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## greggy (28 April 2007)

Last night at 6:00 pm AEST I rang PXR (Tel: (08) 9481 1144) and spoke with Matthew Sullivan, one of PXR's directors.  Mr Sullivan, a geologist, has over 17 years experience, including more than 4 years with Cogema, one of the world's largest uranium explorers and producers. He played a key role in assembling PXR's tenements.  During our conversation, he informed me that the company's very excited about its projects, especially its Tanami Project which is next to NTU's tenements. There has been some JV interest expressed in relation to this project. 
A number of geological targets delineated to date have large coincident uranium radiometric anomalies - including a 7km radiometric anomaly within a palaeo-channel at Lake Teague in WA.   
PXR is also seeking uranium projects in West Africa.  An announcement was made to the ASX in relation to this on 17 Apr 07.  
The company will be doing a roadshow soon in order to raise its profile.
Overall, the impression I have of Mr Sullivan is that he is a well experienced geologist who is focussed on maximising shareholders' returns. He agrees with me that PXR has been well and truly overlooked by the market.  Hopefully, the forthcoming roadshow will assist in raising PXR's profile.  
Thanks YT for introducing this stock to me.
DYOR


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## nizar (28 April 2007)

greggy said:


> Last night at 6:00 pm AEST I rang PXR (Tel: (08) 9481 1144) and spoke with Matthew Sullivan, one of PXR's directors.  Mr Sullivan, a geologist, has over 17 years experience, including more than 4 years with Cogema, one of the world's largest uranium explorers and producers. He played a key role in assembling PXR's tenements.  During our conversation, he informed me that the company's very excited about its projects, especially its Tanami Project which is next to NTU's tenements. There has been some JV interest expressed in relation to this project.
> A number of geological targets delineated to date have large coincident uranium radiometric anomalies - including a 7km radiometric anomaly within a palaeo-channel at Lake Teague in WA.
> PXR is also seeking uranium projects in West Africa.  An announcement was made to the ASX in relation to this on 17 Apr 07.
> The company will be doing a roadshow soon in order to raise its profile.
> ...




Nice stake of oppies you got there.
Nice to see directors loading up as well.

Market cap is a bit of a joke for this one, technically its bounced off 20c like a champion.

Not holding (yet) but multibagger potential no doubt.


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## alankew (28 April 2007)

YT/Greggy do you think it is possible that Areva will cast their eyes over this especially with its proximity to NTU who Areva already have a satke in and aslo in light of what  happened re SMM.Dont hold yet but think i will on Monday


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## YOUNG_TRADER (29 April 2007)

alankew said:


> YT/Greggy do you think it is possible that Areva will cast their eyes over this especially with its proximity to NTU who Areva already have a satke in and aslo in light of what  happened re SMM.Dont hold yet but think i will on Monday




Most certainly, but more so Mega, as they had the door shut in their face re NTU's Tanamai project by Areva, so why wouldn't you then just go next door?


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## greggy (30 April 2007)

YOUNG_TRADER said:


> Most certainly, but more so Mega, as they had the door shut in their face re NTU's Tanamai project by Areva, so why wouldn't you then just go next door?



Hi YT,

PXR's Mar 07 Quarterly Report was released today.  Nothing much to write home about. PXR has over $2.783 million in cash. However, I did note the following line "...The Company is continuing to assess projects on thier merit and is committed to maximise the opportunities on behalf of the shareholders, irrespective of the projects geographical location".  Its good to see the company looking to add value by acquiring further projects, most likely overseas in West Africa I feel.
When speaking with Matthew Sullivan, a PXR director, he stated to me that he knew Areva well having worked for over 4 years with Cogema.  If NTU comes up with some good exploration results there may well be a bit of a fight on over who joins up with PXR on their NT ground.  I would say, bearing in mind its simply speculation at this early stage, that Areva would start off favourite as they're next door neighbors, but then again there's nothing stopping  Mega from making a play for PXR's NT ground.  Interesting times lie ahead.
DYOR


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## skegsi (13 May 2007)

greggy said:


> Last night at 6:00 pm AEST I rang PXR (Tel: (08) 9481 1144) and spoke with Matthew Sullivan, one of PXR's directors.  Mr Sullivan, a geologist, has over 17 years experience, including more than 4 years with Cogema, one of the world's largest uranium explorers and producers. He played a key role in assembling PXR's tenements.  During our conversation, he informed me that the company's very excited about its projects, especially its Tanami Project which is next to NTU's tenements. There has been some JV interest expressed in relation to this project.
> A number of geological targets delineated to date have large coincident uranium radiometric anomalies - including a 7km radiometric anomaly within a palaeo-channel at Lake Teague in WA.
> PXR is also seeking uranium projects in West Africa.  An announcement was made to the ASX in relation to this on 17 Apr 07.
> The company will be doing a roadshow soon in order to raise its profile.
> ...




Greggy, i realise PXR are at very early stages, but did Mr Sullivan mention what they will concentrate on first? Lake Teague (WA) or Tanami project (NT)? Which would be most likely do you think?
Do you know when NTU plan to drill the area directly adjoining PXR's tenements?


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## greggy (14 May 2007)

skegsi said:


> Greggy, i realise PXR are at very early stages, but did Mr Sullivan mention what they will concentrate on first? Lake Teague (WA) or Tanami project (NT)? Which would be most likely do you think?
> Do you know when NTU plan to drill the area directly adjoining PXR's tenements?



Hi Skegsi,

When speaking to Mr Sullivan, he informed me that a number of near-surface anomalies at the Tanami and Lake Teague Uranium Projects warrant immediate investigation with good potential to delineate drill targets in the near term.  The company is currently preparing an exploration programme to test the known targets at its Tanami Uranium Project.
NTU announced to the ASX on 1 May 07 that a $2.7 million exploration budget has been approved for Areva operations on the Gardiner-Tanami Super Project.  The programs will cover all of the currently granted tenement areas.
In summary, I feel that the Tanami Uranium Project holds the most potential and its search for uranium projects in West Africa also looks very interesting.  Any other views out there?
DYOR


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## greggy (17 May 2007)

PXr's share price has weakened of late on thin turnover.  No doubt its management will perhaps bring forward its roadshow in order to make more brokers and investors aware of its various interests.  More details of its upcoming exploration program in the Tanami, NT, would also be of interest.
This is definitely one stock that one has to be patient with as it is arguably one of the most overlooked uranium stocks listed on the ASX.
DYOR


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## greggy (17 May 2007)

greggy said:


> PXr's share price has weakened of late on thin turnover.  No doubt its management will perhaps bring forward its roadshow in order to make more brokers and investors aware of its various interests.  More details of its upcoming exploration program in the Tanami, NT, would also be of interest.
> This is definitely one stock that one has to be patient with as it is arguably one of the most overlooked uranium stocks listed on the ASX.
> DYOR



Further to my contribution earlier today, I have just spoken by phone to Roland Berzins, PXR's Company Secretary. He told me that the company is aware of the fact that PXR has been overlooked by the market and that it intends to do a roadshow shortly in order to make more people aware of the company's potential. He agreed with me that having acreage next door to NTU leaves PXR well positioned and that the market hasn't caught on to this.
The company is also on the look out for new acquisitions.
In light of recent weakness, I have picked up 700,000 options and my father has also picked up 300,000 as well.
Just as has been case with BYR and ERL, one just needs to be patient with stocks such as this one.
DYOR


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## DAZT49 (17 May 2007)

Good work Greggy. It seems the market is plowing ahead with new record highs and my shares (PXR included) drifting the other way. Seems a long time since they were .45c.
As you say..patience.
Nice pick up on the options!!


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## motion (17 May 2007)

DAZT49 said:


> Good work Greggy. It seems the market is plowing ahead with new record highs and my shares (PXR included) drifting the other way. Seems a long time since they were .45c.
> As you say..patience.
> Nice pick up on the options!!




DAZT49 -- I feel the same as you.... I'm looking for an news at the moment with PXR I'm not a big share holder but I do have enough invested to feel the downturn of the share at the moment.... 

Greggy thanks for the update I still think this will take off over time,


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## alankew (17 May 2007)

Greggy any chance you could stop telling people waht a great buy they are until i buy some options.Cannot believe the price of the oppies and expiry date-you would think they would have some anns before they expire


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## greggy (17 May 2007)

motion said:


> DAZT49 -- I feel the same as you.... I'm looking for an news at the moment with PXR I'm not a big share holder but I do have enough invested to feel the downturn of the share at the moment....
> 
> Greggy thanks for the update I still think this will take off over time,




Hi motion,

I doesn't take a long time for shares to come back into favour.  You only have to look at both ERL and BYR (in my case) to see this.  Before committing funds to any stock I put them through various filters:
1. Low market cap and price (PXR - under $10 million) 
2. Good experienced management (PXR - significant boardroom experience, Mr Sullivan worked for over 4 years with Cogema)
3. Is it an overlooked stock in a booming sector (uranium, nickel)? (yes, PXR is uranium focussed)
4. Potential upside - interesting prospects, nearology effect (PXR - next door to NTU)   
5. Is the company looking for new projects in order to increase shareholder value (PXR is looking to West Africa for uranium projects).
6.  Does the company have sufficient cash? (PXR has over $2.7 million cash as at the end of Mar 07). 
As has been discussed throughout this thread, PXR indeed has passed all the criteria I use in order to select overlooked stocks with multi-bagger potential.  I have been using weakness in the share price as an opportunity.  Nothing has changed in the company's fundamentals that would worry me. As I reminded Mr Berzins today, PXR management need to do more on th PR front and this is exactly what they intend to do.
DYOR


----------



## boy_888 (17 May 2007)

Why would u buy the options, when at the current option price, and a exercise price of 20cents they are considerably out of the money?


----------



## boy_888 (17 May 2007)

Looking through some activity reports for palace, i noticed that a very substantial chunk of its budget is set for its WA land holdings. Does that make total sense? Shouldn't it be concentrating on exploring in a U friendly state?


----------



## JMcDog (17 May 2007)

*Why would u buy the options, when at the current option price, and a exercise price of 20cents they are considerably out of the money?*

When you consider that the time to expiry is very significant, I believe you should expect the options to be out of the money....  in effect you are paying about a 5c or 6c premium, as of today, to both leverage yourself and yet minimise your risk for about 5 years!  In a spec/high risk play the options are surely an excellent choice if you wish to invest in Palace Resources.


----------



## greggy (18 May 2007)

JMcDog said:


> *Why would u buy the options, when at the current option price, and a exercise price of 20cents they are considerably out of the money?*
> 
> When you consider that the time to expiry is very significant, I believe you should expect the options to be out of the money....  in effect you are paying about a 5c or 6c premium, as of today, to both leverage yourself and yet minimise your risk for about 5 years!  In a spec/high risk play the options are surely an excellent choice if you wish to invest in Palace Resources.



With over 5 years to go on the options, they are certainly a more leveraged play on PXR.  You basically get 3 times the exposure than you would get by holding the shares. Options are for the more experienced trader who can tolerate the risks involved.  
DYOR


----------



## greggy (18 May 2007)

boy_888 said:


> Looking through some activity reports for palace, i noticed that a very substantial chunk of its budget is set for its WA land holdings. Does that make total sense? Shouldn't it be concentrating on exploring in a U friendly state?



I have spoken to the company about this and they say that the best thing to do is to first find a resource then worry about the politics later on.  Down the track the company strongly believes that political attitudes will change down the track in WA. It would be preferable if the WA Govt changed its mind, but if you  take a look at other WA uranium explorers when they released good results the share price has reacted accordingly.  There are lots of serious bets being made out there anticipating political change. Also budgets and the focus of companies can and often change once listed.
The Directors of PXR are very keen to commence work on the Lake Teague Project which is located 130 kms north west of Wiluna in WA. Aerial radiometric surveys and historical drilling by Esso Australia Limited in the early 1970’s approximately 5km west of the Lake Teague Tenement located calcrete-hosted uranium mineralisation. Intervals of mineralisation containing
carnotite (a uranium-vanadate mineral) were intersected in calcrete and playa lakes sediments over a large area and were open in all directions. Results from the drilling peaked at 0.1% U3O8. Uranium anomalism within the same palaeo-channel systems that hosts the mineralisation discovered by Esso Australia Limited occurs within Palace’s tenure for over 7km. Two large anomalies have been identified upstream and within the same palaeo-channel system from the Esso mineralisation. A number of other targets associated with other palaeo-drainage systems have also been identified in the central and southern portion of the Lake Teague Project area. 
Due to the sheer size of its Tanami tenements I wouldn't be surprised if the company enters into a JV with a major resource company in order to properly explore that particular project. Don't also forget that the company also has the Marla Uranium Project in NT.  
The company is also on the look out for uranium projects in West Africa.
DYOR


----------



## stargazer (21 May 2007)

Hi all

Noticed it mentioned in the PXR website that there is a lot of native title land in this area.  Does this pose a problem for companies generally that may want to mine at some point in the future?

Cheers
SG


----------



## Ken (21 May 2007)

If the laws do not change for NT uranium mining wouldn't that put a whole heap of companies out of business?


----------



## greggy (22 May 2007)

Ken said:


> If the laws do not change for NT uranium mining wouldn't that put a whole heap of companies out of business?



Generally these days, a lot of mining companies have the same issue throughout Australia.  Its up to the various mining companies to negotiate a deal with the traditional landowners.  
PXR has 2 uranium projects in the NT (Tanami and Marla) and 1 in WA Lake Teague).  Its also looking for new uranium projects in West Africa.        
DYOR


----------



## DAZT49 (22 May 2007)

Article in todays Age re RIO advancing its Uranium production and dealing with
traditional owners, may be of interest to you.
http://www.theage.com.au/news/business/uranium-glows-for-rio/2007/05/21/1179601330127.html


----------



## greggy (22 May 2007)

DAZT49 said:


> Article in todays Age re RIO advancing its Uranium production and dealing with
> traditional owners, may be of interest to you.
> http://www.theage.com.au/news/business/uranium-glows-for-rio/2007/05/21/1179601330127.html




Thanks for the interesting article, DAZT49. Of particular interest in The Age article:
RIO's energy chief executive, Mr Chiaro cautioned that Jabiluka would not be developed unless Rio got a "yes" from the traditional owners, the Mirrar people. Their leader, Yvonne Margarula, has long been opposed to Jabiluka's development but Mr Chiaro claimed that the relationship with Rio had "improved dramatically in the past two years".
"Hopefully, we can get her to say a 'yes' in the near-term future," Mr Chiaro said.
Mr Chiaro said that at the Kintyre deposit [WA], the traditional owners had approached the company about a development. Discussions were proceeding with the Martu people on a "commercial agreement" for Kintyre's development.
It all goes to show that an increasing number of traditional owners are willing to at least enter into a partnership with the uranium mining industry.


----------



## Ken (23 May 2007)

The thing holding back PXR is land holder issues I would say....

I would like to find out if anyone leaves in the areas that PXR have for exploration.

I am very close to buying some options but I am just a little bit unsure of the whole situation.


----------



## greggy (23 May 2007)

Ken said:


> The thing holding back PXR is land holder issues I would say....
> 
> I would like to find out if anyone leaves in the areas that PXR have for exploration.
> 
> I am very close to buying some options but I am just a little bit unsure of the whole situation.



Hi Ken,

As announced in the Mar 07 Quarterly Report, PXR,s directors are in communication with the NT CLC and are working towards signing a deed of convenant under which the company will assume Newmont's obligations with respect to the Marla tenements and the other Tanami tenements and continue to hold the tenements in good standing.  
I hope this info helps you.

Regards,

Greggy


----------



## chris1983 (23 May 2007)

I'm onboard.  Mainly looking to see them acquire some grounds in Africa.  Got the oppies.  Only put a couple of grand into these though.  Dont want to put too much money based off an educated gamble.


----------



## ta2693 (23 May 2007)

Chris1983 on board is a very positive sign.  The ex date is in 2011, the option is indeed very cheep.welcome join the PXR bus.


----------



## chris1983 (23 May 2007)

ta2693 said:


> Chris1983 on board is a very positive sign.  The ex date is in 2011, the option is indeed very cheep.welcome join the PXR bus.




I saw the oppies as very cheap like you stated.  I could of put more into them but my funds are tied up atm.  They dont have many shares on issue and if some news is released they could really fire up and a small parcel could be very profitable.

All the best to holders.


----------



## greggy (23 May 2007)

ta2693 said:


> Chris1983 on board is a very positive sign.  The ex date is in 2011, the option is indeed very cheep.welcome join the PXR bus.




Hi ta2693,

The expiry date of the PXR options is actually 30 June 2012.  It costs 20c to convert each option.  To Chris1983, welcome aboard the PXR train.  PXR's recent announcement searching for new uranium projects in West Africa adds some extra spice to what IMO is already a very interesting company.  
DYOR


----------



## chris1983 (23 May 2007)

greggy said:


> Hi ta2693,
> 
> The expiry date of the PXR options is actually 30 June 2012.  It costs 20c to convert each option.  To Chris1983, welcome aboard the PXR train.  PXR's recent announcement searching for new uranium projects in West Africa adds some extra spice to what IMO is already a very interesting company.
> DYOR




Greggy.  The african projects will be the one to make the SP fire up in the short term.  So lets see what happens.  Its good to know they have some aussie licenses also.  I have researched this company previously and decided it was time to act.  Very cheap atm.


----------



## skegsi (23 May 2007)

Agree Chris
Can it get any cheaper?!?
How much cash do they have?
You're paying pretty much nothing for their projects!
Any chartists care to let us know if PXR has found it's bottom?
Will be very interesting to watch in the next couple of months.


----------



## monaliza (23 May 2007)

chris1983 said:


> Greggy.  The african projects will be the one to make the SP fire up in the short term.  So lets see what happens.  Its good to know they have some aussie licenses also.  I have researched this company previously and decided it was time to act.  Very cheap atm.



Chris,you can post your thread now ,I already finished buying my options 
yesterday. Thanks to Greggy who mention PXR on NTU threads,so it gets my
attentions.


----------



## Sean K (23 May 2007)

skegsi said:


> Agree Chris
> Can it get any cheaper?!?
> How much cash do they have?
> You're paying pretty much nothing for their projects!
> ...



It might be a bottom, but it's only been around for a little while so there's not much built into the chart. You would think that around the issue price should be close to bottom although stranger things have happened.


----------



## greggy (23 May 2007)

chris1983 said:


> Greggy.  The african projects will be the one to make the SP fire up in the short term.  So lets see what happens.  Its good to know they have some aussie licenses also.  I have researched this company previously and decided it was time to act.  Very cheap atm.



Chris1983, I wouldn't rule out some action either on its Australian uranium tenements.  Any good news that might come out from NTU's Super Gardiner-Tanami Project may have a positive spin-off effect on PXR's share price. With PXR next door to NTU in the Tanami (NT) and Areva being the Project Operator of the Super Project, one can't rule out the possibility of there being a JV on PXR's ground down the track.
Either way, PXR is on of the most overlooked uranium stocks out there.  This is one stock for the patient.  IMO its a potential multi-bagger.
DYOR


----------



## greggy (23 May 2007)

skegsi said:


> Agree Chris
> Can it get any cheaper?!?
> How much cash do they have?
> You're paying pretty much nothing for their projects!
> ...




Hi Skegski,

AS at the end of Mar 07, it has $2.783 million in cash.  It has significant potential on a number of fronts (NT, WA and West Africa).
DYOR


----------



## chris1983 (23 May 2007)

hmm true.  You look like you have done your research.  Overall they look like a decent company with some news in the pipelines.  I really want them to acquire some african projects though.  It would be great news because Africa is a place where we know development of a project has less hoops to jump through.


----------



## greggy (23 May 2007)

kennas said:


> It might be a bottom, but it's only been around for a little while so there's not much built into the chart. You would think that around the issue price should be close to bottom although stranger things have happened.



Hi Kennas,

Congrats once again that you're now married.
Getting back to PXR, it has fallen on low volumes of late. The only negative for my liking is that its directors need to do a little PR in order to better inform the market of its various uranium projects and to start moving a little more quickly. 
I have spoken to 2 of PXR's directors during the past few weeks. They intend to soon do a roadshow to better inform potential investors. 
DYOR


----------



## Captain_Chaza (23 May 2007)

Not SAFE enough  for me and my children to hoist at this time 
Bad charts often seem to get badder
However she Could be one for Mother-In-Laws

I would like to see at least one green candle day before i'd put her on my watch list

Salute and Gods speed


----------



## greggy (23 May 2007)

chris1983 said:


> hmm true.  You look like you have done your research.  Overall they look like a decent company with some news in the pipelines.  I really want them to acquire some african projects though.  It would be great news because Africa is a place where we know development of a project has less hoops to jump through.



Hi Chris1983,

When researching stocks, I start off by reading the ASF threads.  The brilliant Young Trader first alerted me to PXR. I then followed it up by reading all tha available material on the PXR website including the RM Research report. Lastly, I did a search via Google and then compared PXR to other uranium stocks. 
Once it passed through all my filters I then purchased 700,000 options in PXR. My father has also bought 300,000 options.  Sometimes one has to be patient with overlooked stocks.  I did the same with both MZMO and ERL. Luckily it paid off in both those cases.  I'm hoping that PXR and PXRO will do the same.
DYOR


----------



## Ken (23 May 2007)

Just looking at NAE.

It has been sold off of late, and PXRO has followed.

I am looking for an entry but haven't built up the courage to buy any options.

I just dont know what they're worth I would like  to pay around 4 or  5 cents to be honest but cant see it happening.


----------



## greggy (23 May 2007)

Ken said:


> Just looking at NAE.
> 
> It has been sold off of late, and PXRO has followed.
> 
> ...



Hi Ken,

PXR options have greater leverage than the underlying shares.  Every share and option has its price.  Its really up to each individual to determine what that price is. 
DYOR


----------



## chris1983 (23 May 2007)

greggy said:


> Hi Chris1983,
> 
> When researching stocks, I start off by reading the ASF threads.  The brilliant Young Trader first alerted me to PXR. I then followed it up by reading all tha available material on the PXR website including the RM Research report. Lastly, I did a search via Google and then compared PXR to other uranium stocks.
> Once it passed through all my filters I then purchased 700,000 options in PXR. My father has also bought 300,000 options.  Sometimes one has to be patient with overlooked stocks.  I did the same with both MZMO and ERL. Luckily it paid off in both those cases.  I'm hoping that PXR and PXRO will do the same.
> DYOR





I dont have the courage to buy that many.  You have gone in quite heavy.  All the best.  PXR didn't meet all the criteria I look for but they are quite cheap and have some good things going for them.  ECH was a stock that met all my criteria and in the past few weeks my entry has paid off.  Hopefully PXR can replicate that.  If it does you can pretty much quit work for quite some time if you hold onto your oppies.  My main reason for having an entry on them was because I think news on an African project could be looming.  Once they get this and it is a project with good prospects.. the upside potential is huge especially with the small amount of shares on issue.  The Australian projects look good too but they still have work to do..definately upside with these also so these Australian grounds will support the sp and even push it a lot higher with decent news.  Lots of upside potential in this stock.


----------



## chris1983 (23 May 2007)

Ken said:


> Just looking at NAE.
> 
> It has been sold off of late, and PXRO has followed.
> 
> ...




The oppies expire in 2012.  They are a good buy at this level.  20 cents exercise price.  Whats the head share trading at? 19?  Say you got 10,000 PXR at 20.  Thats 2 grand.  You could get 30,000 oppies at 6.6 cents.

The head share runs up 10 cents to 30 cents..thats 1 grand profit.

if the head share is at 30 cents the oppies should be a minimum of 10 cents..as they are 20 cents exercisable.  You would think the oppies will trade a little in front of the heads due to the greater leverage..you have untill 2012!

Say the head share is at 30..I would expect the oppies to atleast be 12 cents.  The profit you would make is greater on the oppies and further gains with the head share will be greater with the oppies as you will hold a greater amount.  Thats why PXRO are very attractive.  Especially with all the upside potential.


----------



## Captain_Chaza (23 May 2007)

Yep That is one way to look at leverage

The other way to look at leverage is 
"When things don't go expected to plan"

How do the figures look then?

What I mean is Does the parrabolic nature of Leverage work the same on the upside as it hurts "parrabolicly" on the down-side
scenario
Such a dramatic parrabolic downturn would surely destroy the confidence of any a  brave seaman IMO
Salute and Gods Speed


----------



## chris1983 (23 May 2007)

monaliza said:


> Chris,you can post your thread now ,I already finished buying my options
> yesterday. Thanks to Greggy who mention PXR on NTU threads,so it gets my
> attentions.




haha 

Yeah I had these eyed off before but when you metioned them to me I remembered the potential.  I have another couple of stocks Im after that I believe will be clear winners.  I'll post on them when I get back to Perth..currently at Sydney and im on an annoying internet kiosk..dial-up access off my laptop is soooo slow!!


----------



## chris1983 (23 May 2007)

Captain_Chaza said:


> Yep That is one way to look at leverage
> 
> The other way to look at leverage is
> "When things don't go expected to plan"
> ...




Well if you cant afford to lose anything or take any risk in the stock market you shouldnt be in the market to begin with   Thats what I have to say for those who worry about "when things don't go expected to plan"


----------



## greggy (24 May 2007)

chris1983 said:


> I dont have the courage to buy that many.  You have gone in quite heavy.  All the best.  PXR didn't meet all the criteria I look for but they are quite cheap and have some good things going for them.  ECH was a stock that met all my criteria and in the past few weeks my entry has paid off.  Hopefully PXR can replicate that.  If it does you can pretty much quit work for quite some time if you hold onto your oppies.  My main reason for having an entry on them was because I think news on an African project could be looming.  Once they get this and it is a project with good prospects.. the upside potential is huge especially with the small amount of shares on issue.  The Australian projects look good too but they still have work to do..definately upside with these also so these Australian grounds will support the sp and even push it a lot higher with decent news.  Lots of upside potential in this stock.



Hi Chris1983,

IMO its the Tanami tenements and possible West Africam uranium projects which will be the main drivers for this stock.  Of the 46.2 million shares on issue, only 24.2 million of them are quoted.  There's also 40 milion options on issue.  Before buying the options, I looked at buying the shares.  Whereas 700,00 shares would have cost me around $175,000 at the time I got the same leverage (to 700,000) for only $56,000.  Also, with not many shares quoted it would have been harder to get them.  As there are not many shares on issue, there may be a greater effect on the share price on the back of any positive news. The opposite could also be said if any neagative news were to come out. Risk indeed works both ways.
DYOR


----------



## boy_888 (24 May 2007)

Has anyone any idea when the company road show is to begin? People we start to reliase how bright this unpolished gem can become, especially with a current market cap of only $5million!


----------



## greggy (25 May 2007)

boy_888 said:


> Has anyone any idea when the company road show is to begin? People we start to reliase how bright this unpolished gem can become, especially with a current market cap of only $5million!




When I recently spoke with 2 of PXR's directors, they told me that a roadshow will soon take place.  No definitive dates were given.  The current market cap (of all quoted shares) is now around the $4.5 million mark. As at the end of Mar 07, it had $2.783 million in cash and 3 interesting exisitng uranium projects (2 in NT and 1 in WA) with the likelihood of finding new uranium projects in West Africa. This stock indeed has been truly overlooked. Hopefully, the looming roadshow will increase interest.
DYOR


----------



## Captain_Chaza (25 May 2007)

The charts of the PXR look GRIM /GLUM/GLOOM to me?

Take your chances without me onboard!
l  
Salute and Gods' speed

Sometimes the Bad just seem to get Badder?
Go figure?!


----------



## greggy (25 May 2007)

Captain_Chaza said:


> The charts of the PXR look GRIM /GLUM/GLOOM to me?
> 
> Take your chances without me onboard!
> l
> ...




PXR is trading at the bottom of its trading range.  I generally try to avoid the high flying hot stocks of the moment, but instead look for the overlooked stocks within the market that have strong potential that haven't been widely recognised.  Time will tell whether my strategy will work with PXR. However, it has definitely worked with a number of shares of late including ERL and MZM. There are often great rewards for those of us who are patient.
DYOR


----------



## Captain_Chaza (25 May 2007)

Ahoy Officer Greggy

Are you suggesting that 
The Good Get Gooder because they are Good
Or 
The Bad get Gooder because they have Good intentions and Hence are  
overlooked by the most Goodest?

Salute and Gods' Speed
Thank God it is almaost FrIday on the EOD  Global Stock Exchange!


----------



## boy_888 (25 May 2007)

fancy puns and nursury rhimes can't summarise the fact that pxr's market cap is nearly worth the same as its cash in bank. what a joke its a steal! load up and build a position, as this one's firing up to go to the moon, if a sniff of positive news in announced!

enjoy the ride boys and girls!


----------



## Sean K (25 May 2007)

boy_888 said:


> fancy puns and nursury rhimes can't summarise the fact that pxr's market cap is nearly worth the same as its cash in bank. what a joke its a steal! load up and build a position, as this one's firing up to go to the moon, if a sniff of positive news in announced!
> 
> enjoy the ride boys and girls!



Boy 888, this is a very funny post for ASF. Rarely do we see stocks going to the moon here. Cheers. 

Having enjoyed this post for the moment, please leave these at HC for their amusement in the future. 

Cheers!


----------



## boy_888 (25 May 2007)

your welcome kennas! but whats the deal this whishy away ahoy cr..! lol! what do u mean by HC? plz excuse my ignorance.


----------



## Sean K (25 May 2007)

boy_888 said:


> your welcome kennas! but whats the deal this whishy away ahoy cr..! lol! what do u mean by HC? plz excuse my ignorance.



Capt Chaza has his own unique style, but he rarely, if ever, is unobjective in his comments. A reasonable rationalist at sea. Maybe.  

HC is an acronym for another site known as HotCopper, where stocks go to the moon on a daily basis. Well, they launch to the moon before they expload into a million pieces and scatter into the ocean taking unsuspecting astronauts to a watery grave. ASF rides on a slower train powered by a little more justification and analysis. If you don't provide some facts to support an argument here, you end up in the ocean. 

All the best! kennas


----------



## boy_888 (25 May 2007)

thanks for the the reply kennas. as constructing an argument towards pxr's real value i'll let greggy do the talking. we all know what pxr is all about, its just a matter of time and patience! essentially riding this slow ASF train you've just made me aware of! 

cheers!


----------



## Sean K (25 May 2007)

boy_888 said:


> thanks for the the reply kennas. as constructing an argument towards pxr's real value i'll let greggy do the talking. we all know what pxr is all about, its just a matter of time and patience! essentially riding this slow ASF train you've just made me aware of!
> 
> cheers!



I have owned PXR and recently sold to wait for a re-entry. You are right that market cap looks very low for a uranium explorer in the NT with a prospective EPL right next to NTU, whose market cap is much larger. There are not many U explorers with a cap under $50m atm. (I'm not sure if that is sane though) They need to produce something more concrete than a land holding and a good web site, I think. Although, that hasn't stopped some other stocks being re-rated on nothing other than a piece of land.....


----------



## greggy (26 May 2007)

Captain_Chaza said:


> Ahoy Officer Greggy
> 
> Are you suggesting that
> The Good Get Gooder because they are Good
> ...




Ahoy Captain Chaza,

You're probably sailing as I write. Here in Melbourne its perfect sailing weather.  Sorry to digress.
With 28 years of trading both winners and losers, I have come to the conclusion that the market has so many stocks that inevitably a number of them will have been well and truly overlooked and are mispriced.  On closer examination, a number of them deserve to be overlooked due to high debt levels, poor management etc. These stocks I exclude from buying. Hence, I tend to stick to overlooked stocks with experienced and capable management together with very interesting prospects. 
I recently wrote to the Pre Speculation columnist from the Weekend Australian in relation to PXR.  He wrote back to me stating he's been unable to find anyone who knows anything about the stock.  This goes to show how overlooked it is. Not surprising when there are now well over 100 uranium related stocks listed on the ASX.
The fact that PXR is currently below its issue price doesn't worry me too much as its potential hasn't changed.  PXR's management will have to do more on the PR front.  You've got to remember that there's a lot of resource stocks that have also gone below their issue price during the past 18 months or so, including UNX, UXA, VMS, MZM and ERL just to name a few.  When more traders began to see their potential, along with good exploration results, interest rose and share prices increased.                 
DYOR


----------



## boy_888 (26 May 2007)

greggy is there any indication as to when a drilling program will begin, as this is a key criteria towards pxr developing more awareness amongst investors?


----------



## alankew (26 May 2007)

Boy888 dont know about drilling commencing but think that a driver for this share will also be results from neighbours NTU who should have something to announce reasonably soon.Hopefully if positive PXR will rise and then they just have to find something themselves to have double the effect


----------



## boy_888 (26 May 2007)

yes i believe ntu are working on developing detailed airborne magnetics and radiometrics over its tanami project area; which will then be followed up with a drilling program. The intial radiometrics results could rub off favourably upon pxr, if positive and encouraging results are released by ntu. Cashed up Areva is keen to aggresivley pursue exploration in the tanami area, its a matter of patience on our behalf.


----------



## Captain_Chaza (26 May 2007)

Ahoy Officer Greggy

I make no apologies on my assessment of the good or bad ship PXR

She is now in falling mode and buyers should be made aware 
IMO

Sure , I understand that in a trading year of ~200 days somebody could pick the bottom

I think the odds are even greater than this "In Real time!"

Surely you must agree with me that there must be a sign/signal in the charts somewhere that the The Goodship /BadShip PXR has not been a "MILKING" exercise 

This would be against the Laws on Land as you know
At sea on the ASX we take these sort of matters with a grain of salt

First-In best dressed if you like?
OR
Last -In best dressed if you prefer?

We take our chances and we win when we are right and then we change our plan to "long tern" if we are found to be wrong in the short term LOL!

So WHY does "NOT ONE" of my technical indicators point NORTH for the PXR ATM ?

I hope for your sake it is all hidden in the fine print in the documents  I love to refer to the Sweet FA documents

Salute and Gods' speed


----------



## chris1983 (27 May 2007)

Captain_Chaza said:


> Ahoy Officer Greggy
> 
> I make no apologies on my assessment of the good or bad ship PXR
> 
> ...




Go check the chart of AIM out.  It was looking very poor only 3 weeks ago.  I knew Mumbwa results were drawing near and I know that they are building a mine.  I also have a feeling they will seal their offtake agreements soon..yet you still had the investors who were worrying about the chart looking very poor with the technical indicators looking bearish..now look where they are.  I dont go by technical indicators.  That will get thrown out the door when PXR release news in relation to an african project being acquired.  They could jump up 20 cents in a day and its very easy to miss the boat.  In conclusion technical indicators can be good to an extent when predicting good news is coming out but I dont like missing the boat because waiting for the indicators to change can sometimes cause you to miss the boat.

How many investors knew about Echelon 6 weeks ago?  NONE.  I think lots of people still dont know about them.

I feel PXR are worth a go atm.  They aren't expensive market cap wise and have decent projects in the NT.  News on an african project could be released at any time in the near future and if not they still have their aussie prospects to fall back on.  In my view they are a very good spec play.  Not one for me to put all my money into..but stocks like these dont need you to put all your money into them to make huge returns.  All the best to holders.


----------



## greggy (28 May 2007)

chris1983 said:


> Go check the chart of AIM out.  It was looking very poor only 3 weeks ago.  I knew Mumbwa results were drawing near and I know that they are building a mine.  I also have a feeling they will seal their offtake agreements soon..yet you still had the investors who were worrying about the chart looking very poor with the technical indicators looking bearish..now look where they are.  I dont go by technical indicators.  That will get thrown out the door when PXR release news in relation to an african project being acquired.  They could jump up 20 cents in a day and its very easy to miss the boat.  In conclusion technical indicators can be good to an extent when predicting good news is coming out but I dont like missing the boat because waiting for the indicators to change can sometimes cause you to miss the boat.
> 
> How many investors knew about Echelon 6 weeks ago?  NONE.  I think lots of people still dont know about them.
> Hi Chris1983,
> ...



PXR went up today 2 cents today to 20.5c on turnover of 97,500.  Whilst this share has been falling of late on thin turnover, its refreshing to see it go up 2cents today, also on thin volume.  I noticed today there's been increased buying support for the shares. Th options also went up today and there's a strong buyer wanting just under 300,000 at 6.9c. Hopefully, today is the start of increased buying interest for the stock.
With a market cap of under $5 million this stock has been horribly overlooked.  PXR's tenements are well located, especially in the NT at its Tanami Project.  Should PXR's neighbour, NTU, have any exploration success there could a very positive effect on PXR's share price. I also wouldn't rule out a corporate play either although its still early days. 
In relation to West Africa, if PXR were to find some reasonable uranium projects the effect on the share price could also be very positive.  You only need to have a look at the share prices of companies that have ventured into Africa to see how traders have reacted to such moves.
All in all, I stand by my statement that PXR has strong potential to be a multi-bagger.
DYOR


----------



## boy_888 (28 May 2007)

ok greggy enough with the ramping up! we've heard it all before. time to let the market give its verdict... don't let the secret out.....


----------



## Pommiegranite (29 May 2007)

Are PXR options excercisable at any time prior to expiry? 
Also what is the premium to convert to shares?

Thanks


----------



## motion (30 May 2007)

Well I'm trying to get out of PXR and have been for sometime... This was a bad buy on my part and since it was my 2nd share ever I'm not to upset but still down alot of money at the moment and since it dropped around 21% today....I'm flying the pen.......good luck with PXR....


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## chris1983 (30 May 2007)

motion said:


> Well I'm trying to get out of PXR and have been for sometime... This was a bad buy on my part and since it was my 2nd share ever I'm not to upset but still down alot of money at the moment and since it dropped around 21% today....I'm flying the pen.......good luck with PXR....




I didnt notice the head share went down because I'm on the oppies and they havnt moved much.  Like I said for me personally I would only put in a few grand.  Rewards can still be excellent for investing that amount. If you go in heavier the rewards will be greater. I feel comfortable with that amount of money in PXR.  I wouldnt give up on them though..they are quite cheap atm.


----------



## DAZT49 (30 May 2007)

Motion
Why not hang out till the next announcement.
The whole sector is down currently. One of my shares is down over 50% of about a month ago and the rest down 20-30%.
Hang tough I am sure there is upside in PXR


----------



## greggy (30 May 2007)

chris1983 said:


> I didnt notice the head share went down because I'm on the oppies and they havnt moved much.  Like I said for me personally I would only put in a few grand.  Rewards can still be excellent for investing that amount. If you go in heavier the rewards will be greater. I feel comfortable with that amount of money in PXR.  I wouldnt give up on them though..they are quite cheap atm.



The options were only down 0.1 cent today.  Hardly any need for panic if you're holding the options.  I bought another 70,000 of them yesterday taking my total to 770,000 options (1,070,000 options is now owned by my family, just under 3% of the total number of options on issue) on the back of its interesting prospects. Taking into account the fact that the options have another 5 years and 1 month before expiring, I feel that they offer enormous leverage. 
Today's volume wasn't all that great. I notice that about 70,000 shares were sold below 18 cents in the afternoon, hardly the volume that would cause me to worry.  PXR's last quote was 17c (Buyer) /19c (Seller).
Perhaps a few other newbies, like motion, sold out today.
Having put enormous hours of research into studying PXR and contacting two of its directors, I don't believe anything has changed in relation to PXR's prospects.  Its just gone down today on thin volume.  
Sometimes one just has to be patient.  I recall recently with ERL that a number of traders sold out when it fell to 19 cents on thin volume.  It then came out with a good announcement and went to the early 50s in a matter of days.  Too many people panic, especially newbies, when prices fall on thin volumes.  You just need to look back at Mar 07 for a good example.    
DYOR


----------



## motion (30 May 2007)

DAZT49 said:


> Motion
> Why not hang out till the next announcement.
> The whole sector is down currently. One of my shares is down over 50% of about a month ago and the rest down 20-30%.
> Hang tough I am sure there is upside in PXR




Thanks DAZT49, Sorry if I sounds down just alittle upset at this share.. But you are right I will wait for an ann. lets hope only good things can come from it......... I did buy into this because it was a good share and maybe the market is having a bad run... but just about all of my shares are in the green so just alittle dissapointed in this share... 

DYOR on this company.........


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## greggy (1 June 2007)

Hi Boy888,

In relation to PXR, the company is currently working on the refinement of existing targets and selection of additional targets at its Tanami tenements. Priority targets will be further defined with ground based geophysics (EM, radiometrics) during the up-coming field season prior to drill testing.  IMO PXR is at a similar exploration stage as that of NTU with the main difference that Areva  is the operator of NTU's Super Gardiner-Tanami Project.  Its just speculation on my part at this stage there's nothing stopping PXR from entering a JV with a major company in order to properly explore its tenements.  As I've said previously, NTU approached Areva about its tenements. Areva responded by taking a substantial placement of shares and became the operator of the Super Gardiner-Tanami Project.   
Whilst on the subject of PXR's Tanami tenements, I notice that PXR has recently been granted EL 25207 within the Tanami Project. Th licence will cover some 1,574 sq kms in the Browns Range South area. Radiometric data in the Browns Range South area shows several large, coherent uranium anomalies spatially associated with the target unconformity.  To the south of the project are several known occurences of uranium, the most notable of which is a prospect known as 'the Don' where drill intercepts of 0.4m at 1.7% U308 have been recorded and associated with the unconformity.  * I wish to point out that this lease is the closest lease to NTU's ground (it infact adjoins NTU's land in the Tanami) and is infact non-Aboriginal land. * The rest of its Tanami's leases are on Aboriginal land.  
Things are pretty quiet on the share price front, but you only have to look back over the past 12 -18 months to find many other specs in the same position (UNX, HNR, NAV etc).  With so many specs now listed, some of them have been overlooked. A few have benn neglected for valid reasons, but IMO PXR has been harshly treated by the market.    
DYOR


----------



## YOUNG_TRADER (2 June 2007)

I'm reposting Greggy's comments because I wanted to post a pic and put into context what he's saying

IMO PXR is at a similar exploration stage as that of NTU with the main difference that Areva is the operator of NTU's Super Gardiner-Tanami Project. Its just speculation on my part at this stage there's nothing stopping PXR from entering a JV with a major company in order to properly explore its tenements. As I've said previously, NTU approached Areva about its tenements. Areva responded by taking a substantial placement of shares and became the operator of the Super Gardiner-Tanami Project. 
Whilst on the subject of PXR's Tanami tenements, I notice that PXR has recently been granted EL 25207 within the Tanami Project. Th licence will cover some 1,574 sq kms in the Browns Range South area. Radiometric data in the Browns Range South area shows several large, coherent uranium anomalies spatially associated with the target unconformity. To the south of the project are several known occurences of uranium, the most notable of which is a prospect known as 'the Don' where drill intercepts of 0.4m at 1.7% U308 have been recorded and associated with the unconformity. I wish to point out that this lease is the closest lease to NTU's ground (it infact adjoins NTU's land in the Tanami) and is infact non-Aboriginal land. 


NTU's mkt cap probably 6-8x that of PXR


----------



## DAZT49 (4 June 2007)

Its a long time since the last company ann. 17/4/07 re Uranium in Africa.
Must be one due soon.Lets hope its a good one.


----------



## greggy (4 June 2007)

YOUNG_TRADER said:


> I'm reposting Greggy's comments because I wanted to post a pic and put into context what he's saying
> 
> IMO PXR is at a similar exploration stage as that of NTU with the main difference that Areva is the operator of NTU's Super Gardiner-Tanami Project. Its just speculation on my part at this stage there's nothing stopping PXR from entering a JV with a major company in order to properly explore its tenements. As I've said previously, NTU approached Areva about its tenements. Areva responded by taking a substantial placement of shares and became the operator of the Super Gardiner-Tanami Project.
> Whilst on the subject of PXR's Tanami tenements, I notice that PXR has recently been granted EL 25207 within the Tanami Project. Th licence will cover some 1,574 sq kms in the Browns Range South area. Radiometric data in the Browns Range South area shows several large, coherent uranium anomalies spatially associated with the target unconformity. To the south of the project are several known occurences of uranium, the most notable of which is a prospect known as 'the Don' where drill intercepts of 0.4m at 1.7% U308 have been recorded and associated with the unconformity. I wish to point out that this lease is the closest lease to NTU's ground (it infact adjoins NTU's land in the Tanami) and is infact non-Aboriginal land.
> ...




Hi YT,

Thanks for posting the map once again and for bringing this stock to my attention. I'm very surprised that this stock is very much an undiscovered little gem.  Its has an excellent ground position right next door to NTU.  Its also trying to find new uranium projects in West Africa.  Indeed this stock has the potential to be a multi-bagger on a number of fronts.
DYOR


----------



## Pommiegranite (4 June 2007)

greggy said:


> Hi YT,
> 
> Thanks for posting the map once again and for bringing this stock to my attention. I'm very surprised that this stock is very much an undiscovered little gem. Its has an excellent ground position right next door to NTU. Its also trying to find new uranium projects in West Africa. Indeed this stock has the potential to be a multi-bagger on a number of fronts.
> DYOR




Just notice that options expire in 5 years!!!!!!!!!!!

What's with that? 

Why would a company give that long???


----------



## greggy (4 June 2007)

Pommiegranite said:


> Just notice that options expire in 5 years!!!!!!!!!!!
> 
> What's with that?
> 
> Why would a company give that long???




Hi Pommiegranite,

The options expire on 30 June 2012 with an exercise price of 20c. 5 years is definitelty a long time.  The option issue was a reward for loyal shareholders.
DYOR


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## greggy (4 June 2007)

DAZT49 said:


> Its a long time since the last company ann. 17/4/07 re Uranium in Africa.
> Must be one due soon.Lets hope its a good one.




Hi Datz49,

With this stock one needs to be patient.  A positive announcement on the company obtaining a good uranium project in West Africa may well an enormous impact on PXR's share price.  One only has to look at other exploration companies that have obtained some ground there to witness the generally extremely positive effects on their share prices. If the West African situation doesn't work out (unlikely IMO) then there's always the NT tenements or even the Lake Teague Uranium Project in WA. With $2.783 million in cash as at the end of Mar 07, the market cap for PXR is very low, certainly one of the lowest going around for a uranium focussed company.    
DYOR


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## stargazer (7 June 2007)

Hi all

have a question in regards to the OPTIONS (PXRO)

If you hold the options till 30th June 2012 the exercise price is .20c.  

So you pay say .07c now and then 20c in 2012 assuming you hold till then.

How does this process work when you hold till the expiry date, Never done it before so asking.  

Do they convert to shares automatically?

Do you have to have the amount required in your account as of that date?


Cheers
SG


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## alankew (7 June 2007)

Stargazer never converted before either but you need to pay befor they expire so 29th June 2012 is fine and what you will have paid is the cost of the option plus 20c(or whatever option price is).This is as far as I know irrespective of what share price is-if its $1 you end up paying 27c for a $ share-can of course go against you!


----------



## greggy (7 June 2007)

alankew said:


> Stargazer never converted before either but you need to pay befor they expire so 29th June 2012 is fine and what you will have paid is the cost of the option plus 20c(or whatever option price is).This is as far as I know irrespective of what share price is-if its $1 you end up paying 27c for a $ share-can of course go against you!




Hi alankew,

Leverage works both ways.  The bigger the return, the higher the risk as the saying goes.  I try where possible to buy long dated options of companies that I invest in.  With long dated options one seems to have more time working in your favour.  Also, when you think about it, when my family purchased 1,070,000 PXR options at an average of 7.7 cents, to have purchased the same number of shares would have cost around $220,000 as opposed to around $82,000 for the same exposure via the options.  I have never exercised any options in my 28 years of trading as I've always been able to sell well before expiry as I tend to purchase options with long expiry dates.  PXR is definitely one for the patient.  I can afford to wait as the options have over 5 years to go before they expire. Any positive developments from its Tanami project (in particular), its neighbour NTU, or the company obtaining West African uranium projects may have a strong impact on PXR's share price. Any other thoughts or info?  
DYOR


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## alankew (7 June 2007)

Greggy I personally think it is a low risk trade but was just answering stargazers question.I am fairly new to options and mainly see the positives of investing this way and it is something I am keen to carry on doing.Spread is sometimes a bit scary-not just pxr but all options.Cant wait for ERLO to start trding.Greggy what is your experience of buying options when they are just released,are they particularly volatile and do they settle down after an initial sprint


----------



## greggy (8 June 2007)

alankew said:


> Greggy I personally think it is a low risk trade but was just answering stargazers question.I am fairly new to options and mainly see the positives of investing this way and it is something I am keen to carry on doing.Spread is sometimes a bit scary-not just pxr but all options.Cant wait for ERLO to start trding.Greggy what is your experience of buying options when they are just released,are they particularly volatile and do they settle down after an initial sprint




Hi Alankew,  

I've been trading options since the mid 80s during what was a previous speculative mining boom. From my own experience, I often feel that options are best purchased soon after listing as they tend to be cheaper at this time. I did this most recently with MZMO, AQDOA and not forgeting PXRO.  IMO when they first list they tend not to have many buyers and there's usually more selling going on.  Often the buy/sell spreads are a fair distance apart. Therein lies the potential opportunity. Options can often be very volatile due to the leverage involved.  When shares start going for runs, more often than not one will find that the options go up by a much higher percentage, such is the nature of leverage.  However, it works both ways.  
In relation to PXRO, I notice increased buying support at the 6.1c to 6.3c range, with over 550,000 wanted in this price range with a small seller at 7 cents. 
In relation to your comment about ERLO, I agree wholeheartedly.  Having been issued at 1 cent, it will be very interesting to see what price they will list at.    
DYOR


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## stargazer (8 June 2007)

Hi 

Thanks Alankew and Greggy.

I understand the reasoning to take this approach.  As indicated previously these PXRO options were a reward for loyal shareholders.  

Do these other companies you mentioned Greggy do similar or is it something that is not a norm so to speak.

I use E TRADE and when i go to do the TRADE TAB and then preview order it does give me the expiry date but not the exercise price.

In the OPTIONS TAB it does not take the 4 letter code.

So Greggy do you concentrate on the companies that offer similar to PXR/PXRO or you just buy options with the longest expiry date in companies which you have sifted out.

Cheers
SG


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## greggy (8 June 2007)

stargazer said:


> Hi
> 
> Thanks Alankew and Greggy.
> 
> ...



An increasing number of companies are having loyalty option issues.  
I tend to buy long dated options in overlooked companies in order to maximise my returns. 
DYOR


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## motion (14 June 2007)

Some long awaited news just out "Airborne Electromagnetic Survey".. 

lets hope this gets some interest...

Here is the link

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=PXR


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## greggy (14 June 2007)

motion said:


> Some long awaited news just out "Airborne Electromagnetic Survey"..
> 
> lets hope this gets some interest...
> 
> ...



Hi motion,

This stock has been quiet in terms of announcements of late. 
The aerial electromagnetic survey over the Browns Range South radiometric targets at the Tanami Project will be completed by the end of Aug 07.  As the results of this survey are known, this will be announced to the market.
Hopefully, this may lead to increased market interest.
I noticed increased buying support today. 
DYOR


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## nizar (14 June 2007)

Iv never even seen oppies with

What an opportunity.

Just get set and forget about them if you are keen on the fundies.
The leverage is incredible.

The market cap of PXR is a joke.
If they do find something or get a Canadian takeover or JV they can very easily go to $1 (look at HMR and others).

That would put the oppies at 80c.
5x on the heads but 12x your money on the oppies (at 7c).

The best time to buy oppies is when they are "just" out of the money.

In my opinion.

(not holding, but interesting.......)


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## DAZT49 (14 June 2007)

I agree, great time for oppies, only 37% of PXR price. If the stock gets a run on that will increase with momentum to 70-80% of stock price.
The news today was treated with indifference...NO SALES (for PRX) 70,000 ops to one buyer before the ann.
I have both PRX & PRXO..tho not enough.


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## greggy (15 June 2007)

nizar said:


> Iv never even seen oppies with
> 
> What an opportunity.
> 
> ...



Hi Nizar,

I agree with you wholeheartedly.

As previously mentioned a number of times, PXR has multi-bagger potential on a number of fronts. 

1.  Being next door to NTU in the Tanami, should NTU come up with exciting results there may be strong potential for a considerable effect on PXR due to its proximity.  
Its good that PXR plan to complete its survey in the Browns Range South area by Aug 07.  This particular part of PXR's ground in the Tanami is closest to NTU's ground and is on non-Aboriginal ground. Should the survey come up with good results it will hopefully lead to more market interest.  
There's always the possibility that down the track that NTU, Areva or Mega may approach PXR about a possible joint venture.  For Areva to have taken a substantial placement in NTU and also become the operator of the Super Gardiner-Tanami Projects speaks volumes about what Areva thinks of the area.  Look what happened to NTU's share price after Areva got involved. NTU's share price is still holding up relatively well compared to other uranium explorers.

2,  Should PXR find reasonable uranium projects in West Africa, this may also lead to increased market interest and a higher share price.  Take a look at other companies that have interests in this region. 

PXR has been well and truly overlooked by the market.  The only negative is lack of PR. Management are trying to rectify this matter.  I still hold all my options and have added to them of late as I feel that they have considerable upside for the reasons that I've just given.  Often a large number of stocks are mispriced by the market especially during the first 6 or so months after they list.  Past examples have included UNX, UXA, MZM and ERL.  Once market interest increased so did their share prices. 
With PXR, patience is definitely needed.  In the past I've lacked it with a number of stocks only to see them hit new highs.
DYOR


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## greggy (22 June 2007)

I rang Adrien Wing, Executive Director of New Age Exploration (NAE), based in Melbourne, earlier this week in relation to its search in conjunction with *PXR* (50% each)  for West African uranium projects.  He advised me that they're currently doing due diligence on 2 West African uranium projects and that he's optimistic about its foray into this particular continent. I look forward to developments on this front. 
Iron ore has certainly become the flavour of the month, but there's still significant market appetite for uranium stocks, especially those with a West African flavour.     
DYOR


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## motion (22 June 2007)

greggy said:


> I rang Adrien Wing, Executive Director of New Age Exploration (NAE), based in Melbourne, earlier this week in relation to its search in conjunction with *PXR* (50% each)  for West African uranium projects.  He advised me that they're currently doing due diligence on 2 West African uranium projects and that he's optimistic about its foray into this particular continent. I look forward to developments on this front.
> Iron ore has certainly become the flavour of the month, but there's still significant market appetite for uranium stocks, especially those with a West African flavour.
> DYOR




Greggy - Thanks for the update your info is always great help.... I still hold..

Yep Iron ore has really taken the spot light this month...


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## greggy (23 June 2007)

No worries motion.  With PXR one just has to be patient.  PXR is starting to step up its exploration program in the Tanami, next door to NTU, and is being active in its search for West African uranium projects.  
My family still holds all of its options.  I see the options as being a 5 year punt as to whether the share price moves to 28c or higher during this period.  Hence, I am comfortable with the leverage involved.  Of course, we all to see it go higher in the short term.  Despite iron ore stocks now being the flavour of the day, PXR still holds strong potential on both the Tanami and West African fronts.
DYOR


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## DAZT49 (24 June 2007)

If you are interested in charts (gotta do something while waiting for the 'pot o gold')..
On this chart we have 2 areas of consolidation 
1. 16c - 19c
2. more recently 16c -17 c
In the recent consolidation we can see an increase in volume (tho small) indicating more interest hopefully developing into momentum.
If you have read any of Joe Ross's info you can see that we have points 1 and 2 of a 1,2,3 low.
Point 1 being the most recent low, point 2 being the first retraction .
IF..our next trade day gives us a higher high, and a higher low we will have point 3 (correction back in our favour)
IF.. the SP breaksthru 17c then point 2 (18c) we MAY have an indication that a trend is forming.
With the small volumes and tick sizes lets say hint rather than indication.
Obviously a positive Ann SOON would help.
An obviously IMO and DYOR and PYFO


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## greggy (25 June 2007)

DAZT49 said:


> If you are interested in charts (gotta do something while waiting for the 'pot o gold')..
> On this chart we have 2 areas of consolidation
> 1. 16c - 19c
> 2. more recently 16c -17 c
> ...



Hi Datz49,

Thanks for posting the nice chart.  I firmly believe that PXR has been substantially overlooked by the market.  Its good that it held up reasonably well today, rising to 17c on thin turnover.  I feel that its only a matter of time before more people take a look at this one.
DYOR


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## DAZT49 (25 June 2007)

Hi Greggy,
Agree, remember the SP was 45c in Feb.
In my last post i said
"IF..our next trade day gives us a higher high, and a higher low we will have point 3 (correction back in our favour)"
Well that happened, but very weak ,only 3 trades too.
The SP is going to have to open and close above the 17.5c to start moving IMO
Dazza


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## greggy (25 June 2007)

DAZT49 said:


> Hi Greggy,
> Agree, remember the SP was 45c in Feb.
> In my last post i said
> "IF..our next trade day gives us a higher high, and a higher low we will have point 3 (correction back in our favour)"
> ...



IMO PXR has been well and truly oversold on thin turnover.  I have used recent weakness to build on my existing position.  There's just enough strong potential (Tanami and West Africa (?)) for me to hang in there.  Nothing has changed on the exploration front for me to be concerned.  Any positive news on either the Tanami or West African front is likely to increase market interest in this stock.  PXR is still very much cashed up and its management have taken a frugal approach in this regard. 
Once it deliniates drilling targets, PXR intends to JV out its projects (Lake Teague and NT) to maximise its leverage and available funds.  Since listing they have spoken to a number of parties, both big and small.  It will be very interesting to see who joins up with them when it gets to drilling time.    
DYOR


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## greggy (27 June 2007)

DAZT49 said:


> If you are interested in charts (gotta do something while waiting for the 'pot o gold')..
> On this chart we have 2 areas of consolidation
> 1. 16c - 19c
> 2. more recently 16c -17 c
> ...



Unfortunately, PXR moved back to the 16c mark.  It seems more traders are now switching to iron ore stocks in particular.  
I've had to sell a siginificant stake in PXRO yesterday to buy a substantial interest in IRM at 17c. I didn't want to overcommit. My family still retains 300,000 options.  I have taken my first substantial loss for this year, but have made a reasonable amount back thus far on IRM, an overlooked iron ore stock.  Having missed out on both FWL and POL, I felt that an overlooked iron ore stock would provide me with a greater return in the short term. No doubt others have also taken an unfortunate hit with this one. My family retains 300,000 in the hope that some good news comes out in the not too distant future (re West Africa or the Tanami) and that uranium stocks once again become the hot sector.  I thought I'd post this information in order to be open and accountable to fellow ASFers.
DYOR


----------



## motion (28 June 2007)

greggy said:


> Unfortunately, PXR moved back to the 16c mark.  It seems more traders are now switching to iron ore stocks in particular.
> I've had to sell a siginificant stake in PXRO yesterday to buy a substantial interest in IRM at 17c. I didn't want to overcommit. My family still retains 300,000 options.  I have taken my first substantial loss for this year, but have made a reasonable amount back thus far on IRM, an overlooked iron ore stock.  Having missed out on both FWL and POL, I felt that an overlooked iron ore stock would provide me with a greater return in the short term. No doubt others have also taken an unfortunate hit with this one. My family retains 300,000 in the hope that some good news comes out in the not too distant future (re West Africa or the Tanami) and that uranium stocks once again become the hot sector.  I thought I'd post this information in order to be open and accountable to fellow ASFers.
> DYOR




Hi, I take my Hat off to you Greggy, I have also held onto PXR but I think the time has come to let it go. I have taken a loss on this one but you can not win them all. 

Thank you for all your updates and  info on PXR.. I might see you on board this ride sometime soon...

Cheers


----------



## questionall_42 (28 June 2007)

Why the sudden change in opinion and action of PXR on ASF?  Reading through this thread is a series of qualitatively meaningful statements about the "nearology" to NTU tenements, multi-bagger potential, diverse exploration portfolio... ...

So, if it was a long-term hold, then why exit now? Simply better opportunities or a hotter sector (i.e. iron ore)?

I can not see any change in the fundamentals that have been explained wonderfully in this thread; I am perplexed as to why one would sell out now.

Or is it just an end of financial year stock clearance?


----------



## Riles (28 June 2007)

Just end of FY juggling. It's been a good year for most so somethings gotta go. I've found myself culling a few laggards the last couple of days but I'm keeping PXRO. They've got 5 years yet to prove themselves to be worth more than 5 cents so I'll wait this one out for a while yet.


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## greggy (28 June 2007)

motion said:


> Hi, I take my Hat off to you Greggy, I have also held onto PXR but I think the time has come to let it go. I have taken a loss on this one but you can not win them all.
> 
> Thank you for all your updates and  info on PXR.. I might see you on board this ride sometime soon...
> 
> Cheers



My family has reduced its stake to 300,000 options.  When the opportunity came to switch into an overlooked iron ore explorer in IRM at 17c, I thought I'd take a loss and move into the hottest sector of the market.  Also, its the end of the financial year. I missed out on both FWL and POL and did not want to miss the next iron ore stock that offers strong potential.  A lot of traders are now switching out of uranium shares and are moving into iron ore. PXR still has considerable potential.  Hence, my family is still keeping some. 
DYOR


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## motion (28 June 2007)

greggy said:


> My family has reduced its stake to 300,000 options.  When the opportunity came to switch into an overlooked iron ore explorer in IRM at 17c, I thought I'd take a loss and move into the hottest sector of the market.  Also, its the end of the financial year. I missed out on both FWL and POL and did not want to miss the next iron ore stock that offers strong potential.  A lot of traders are now switching out of uranium shares and are moving into iron ore. PXR still has considerable potential.  Hence, my family is still keeping some.
> DYOR




Hey Greggy, 

Thanks for the info.. Greggy, where you family in Cabin 2B = Because I think we where on the  same boat as you .. Anyway I had alot in U stocks as well and had been holding them for a while and since it was the end of the Finanical Year. I thought I would make the switch over the Iron and try and make a gain over there for a while.

PXR is still a great company and will be in the future but I feel now is not it's time IMO if you are looking for returns straight away..

DYOR..

Thanks again Greggy


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## greggy (29 June 2007)

motion said:


> Hey Greggy,
> 
> Thanks for the info.. Greggy, where you family in Cabin 2B = Because I think we where on the  same boat as you .. Anyway I had alot in U stocks as well and had been holding them for a while and since it was the end of the Finanical Year. I thought I would make the switch over the Iron and try and make a gain over there for a while.
> 
> ...



Hi motion,

With the proceeds from PXR, I placed the funds into IRM, an iron ore stock. From 17c two days ago they've moved since as high as 24.5c, but have since moved back to 21c.  I feel that the iron ore sector has plenty to run, but its also a question of trying to find some value within it IMO.
If I had held on to all my PXR my money would have gone further backwards and I would have missed out on IRM's strong performance in recent days.  IMO uranium stocks seem to have had their run and most of them have fallen significantly.  As I've said before, there's plenty of switching taking place into iron ore.
DYOR


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## DAZT49 (2 July 2007)

Anybody got a clue whats happening today? Up 5c on 212,000 sold.
options are still CHEAP as chips still.
Be interesting to see if it can hold on to the gains in afternoon trading


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## questionall_42 (2 July 2007)

Posted on the 28th June



questionall_42 said:


> Why the sudden change in opinion and action of PXR on ASF?  Reading through this thread is a series of qualitatively meaningful statements about the "nearology" to NTU tenements, multi-bagger potential, diverse exploration portfolio... ...
> 
> So, if it was a long-term hold, then why exit now? Simply better opportunities or a hotter sector (i.e. iron ore)?
> 
> ...




Today up to 19.5c (39%) on vol of 375000 (good vol for PXR).

So was it worthwhile to hold for those couple of days?  

The only reason I can come up with for the rise in sp today is that it is fundamentally a bloody decent stock at rock bottom prices (as the research in this thread suggests).


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## DAZT49 (2 July 2007)

New financial year people looking for bargains (like PXR)??
XKO is down 18 so maybe not.
Lets hope it keeps rolling on


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## greggy (2 July 2007)

DAZT49 said:


> New financial year people looking for bargains (like PXR)??
> XKO is down 18 so maybe not.
> Lets hope it keeps rolling on



Looks like some bargain hunting going on.  I'm glad my family still kept 300,000options. Still no regrets about buying into IRM for a quick trade.
DYOR


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## chris1983 (2 July 2007)

greggy said:


> Looks like some bargain hunting going on.  I'm glad my family still kept 300,000options. Still no regrets about buying into IRM for a quick trade.
> DYOR




Ive still got my holding in the Oppies.  I think its worth leaving there.  This one definately has the possibility of running which is why I got them in the first place.  Like I said though..I only liked them enough to put a few grand into..depends on your level of risk but I think my small investment could bring some very nice rewards.  Good luck to the holders.


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## monaliza (26 July 2007)

I spoke today to the company secertery and he said they going to buy a good project in western Africa, good one not any rubbish.
He did not put time frame for that, saying whetever time it takes.


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## alankew (8 October 2007)

Spoke to the company today-Mathew Sullivan regarding the lack of news.Survey was due to have been completed by now but the contractor they have employed uses a French Helicopter and has managed to blow up the engine(dont think he was onboardIs awaiting parts being shipped from overseas and thinks that thinks could be ready to go in a week or so.He was very bullish about their prospects and compared it to a couple of projects whose names escape me and that he thought their chance of success was about 90%Initially they will focus on near surface prospects.Aske about nearby infrastructure and he said there was bugger all so that being said I aske d what was the way forward.His response was that provided they find something worth finding,they would then look at a JV partner so they get a better deal.I asked about NTU and their Areva(?) connection and he also mentioned that he worked for Areva for 6 years and has some very good connections thereMight be worth keeping an eye on this


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## greggy (8 October 2007)

greggy said:


> Looks like some bargain hunting going on.  I'm glad my family still kept 300,000options. Still no regrets about buying into IRM for a quick trade.
> DYOR




Sometimes it pays to take a loss from a non-performing company.  Management has often been too quiet for my liking. Pity though as PXR has  a very interesting ground position in the NT. I lost a fair amount of money in PXR. 
DYOR


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## monaliza (8 October 2007)

greggy said:


> Sometimes it pays to take a loss from a non-performing company.  Management has often been too quiet for my liking. Pity though as PXR has  a very interesting ground position in the NT. I lost a fair amount of money in PXR.
> DYOR



Who knows what PXR could be in the future,remember
RMI went down from 20 cts in July to 10cts in August
while CUL up from 7c to 19c. Today RMI 60c while CUL 10c
I still hold PXR, although I agree with you their management
bit quiet and not doing well.


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## greggy (15 October 2007)

monaliza said:


> Who knows what PXR could be in the future,remember
> RMI went down from 20 cts in July to 10cts in August
> while CUL up from 7c to 19c. Today RMI 60c while CUL 10c
> I still hold PXR, although I agree with you their management
> bit quiet and not doing well.



PXR has good leases, but is not doing enough on the exploration front IMO.  Its also publicity shy.  Sentiment has also largely turned against the uranium sector. The hot sector at present is iron ore.  
DYOR


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## monaliza (1 November 2007)

*[During the quarter the Company has been approached by several groups looking to farm into the Company’s properties. Discussions are at a very preliminary stage and the Company will make announcements as these discussions progress.]*As the company ann. yesterday,that could be the end of a long tunnel


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## alankew (2 January 2008)

Quick heads up on this,the options are up 42% this morning,volume only 242K(presume its one purchase).Could be connected to previous post re expressions of interest.Last time i spoke to company they were said they had got the helicopter fixed for survey and sounded very positive-however they have said the same thing on a couple of occassions.Might be worth keeping an eye on


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## motion (2 January 2008)

hey I think you are right some news should come soon... I think we are still waiting on some news about the Tanami project from memory, but I could be wrong need to review this baby again...


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## alankew (2 January 2008)

Motion was a bit unsure as the volume isnt that substantial and the heads hadnt moved but now there is some volume on the heads.Still not very substantial.Unless the work was done prior to Christmas i wouldnt have thought there was any reason for this move as presumably even miners close down for Christmas-that said another 25K on the heads has gone through so could be something up.Greggy you still got an interest and direct line to the company


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## Sean K (15 July 2009)

Oh dear.

Here's a classic failure of the uranium bubble.

It looked good for a few seconds before 'poooof!'.

Their last quarterly was a page long and spoke about 'JV's' and "investment opportunities'. 

WTF are they smoking? 

Going through $400k a qtr doing nothing, and had $500k in the bank, as at 31 March. They are a dead duck I feel. 

Nice chart too.


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## DAZT49 (15 July 2009)

kennas,
what are you doing ?
The last post for PXR was Jan 2008, I dont get yr point.
PXR where dead in the water in late 2007, nothing has changed., so you are a year out


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## Sean K (15 July 2009)

DAZT49 said:


> kennas,
> what are you doing ?
> The last post for PXR was Jan 2008, I dont get yr point.
> PXR where dead in the water in late 2007, nothing has changed., so you are a year out



These guys are still listed on the ASX and this is a stock market forum. I thought I'd make a comment about a stock. 

And I said, a good example of the uranium bubble. There's probably still a few that will totally implode like this.

Fundamental buyer beware. 

Comment over.


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## DAZT49 (15 July 2009)

agree,
still a few to fall over when funds run out.
PXR projects have potential, but they will never have the money to get to square one.


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## springhill (29 April 2011)

I have been watching PXR as a potential coal play for some time now. Information has been scant up to this point, but i am backing the guys in charge and am sure information should be due shortly.
They haven't released their quarterly yet, but this is from their previous quarterly (released 31st Jan).

As alluded to in the September 2010 quarterly report, the directors formally announced
their intention to acquire an Indonesian coal asset.
The details of the proposed acquisition, which is subject to shareholders approval, are
as follows:
• By way of acquisition of a 100% interest in Primecity Holdings Pty Ltd
(“Primecity”), Palace is set to acquire a 75 per cent stake in extensive coal
exploration projects in the West Papua province of Indonesia;
• The tenements cover approximately 1,970km² in an under-explored region and
which extend right up to an existing natural deep water port currently used for
timber exports
• Numerous coal outcrops can be seen on the leases to be acquired by Palace
• A team of geologist have been on site to collect samples for metallurgical test
work
• The transaction is subject to due diligence at the absolute discretion of Palace as
well as shareholder and relevant regulatory approvals to be considered at a
General Meeting. The due diligence on the tenements, title and the respective
target companies has been initiated and is currently ongoing.
Palace has also announced that it has been informed by Primecity that Primecity has:
• Entered into a Memorandum of Understanding (“the MOU”) with the Regional
Government of Manokwari on the 28th of November 2010;
• The MoU secures the Regional government’s support for Primecity to exclusively develop a dedicated coal terminal at the port of Mumiwaren.
• A Scoping Study on the port at Mumiwaren highlights its suitability for a
beach/barge/ship operation. This location holds the most promising potential to provide
safe mooring for the vessels necessary for the export of coal, as well as commercial an
recreational fleets in the Manokwari Regency.
• The Scoping Study concluded that a conceptual port design of a coal handling
terminal for export, including the necessary support facilities, utilising approved
port-marine infrastructure is capable of being developed. This conceptual port is
to consist of an integrated world-class open access port ultimately capable of
exporting a minimum of 10Mtpa of coal products, together with the option of
investigating ramp-up options of 2Mtpa moving to 5Mtpa and then to 10Mtpa.
• The MoU was executed jointly by the Bupati of Manokwari, Inspectorate of the
Regional Government, Head of Transportation, Communication and Informatics,
Head of the Department of Forestry and Head of Environmental Affairs Agency.
Discussions are underway with West Papuan authorities to upgrade the port to a
bulk-loading port that has an unimpeded navigational lane to the Pacific Ocean.

Will update if information arises from this quarterly.


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## springhill (2 May 2011)

Recently released quarterly was basically a carbon copy of the last one.
I am noticing increased interest and volume today, plus someone just snapped up 600,000 PXROA plus buyers increasing their OA bids. I'm starting to think there may be something in the wind, they are well due for some news.
Time will tell, keeping a close eye on it.


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## DAZT49 (4 May 2011)

must admit I had lost touch with the company, even tho I hold a small parcel, bought at IPO so I am well down!!


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## Trader Paul (8 May 2011)

Hi folks,

PXR ... price up, volume up last week, with another
positive time cycle expected, this coming week ... 

Looking at the chart, below ... a breakout may be imminent ..... !~!

have a great week ahead

paul



=====


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## Miner (14 May 2011)

Trader Paul said:


> Hi folks,
> 
> PXR ... price up, volume up last week, with another
> positive time cycle expected, this coming week ...
> ...




Yes, Paul probably to keep your prediction right, PXR rose by 10% on Friday.
But why PXRO did not move at all towards north ?

Let us see what monday brings under Wall Street result.


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## springhill (18 August 2011)

PXR have appointed a Nick Clark as Managing Director, Clark speaks both Bahasa and Mandarin, and has worked extensively in China and the US.

Could this be a minor sign things in Indonesia are finally starting to move in the right direction? Linguistic abilities and contacts line up with PXR's ambitions to be a coal producer in the region.

http://www.asx.com.au/asxpdf/20110818/pdf/420grbcn94xcs9.pdf


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## springhill (19 June 2012)

*Re: PXR - Padang Resources*

Haven't looked at PXR for a long time but seems, it has pretty much hit rock bottom. They have announced today they have passed on the West Papuan and West Sumatran Projects, and committed to the Paser Project.
http://www.asx.com.au/asxpdf/20120619/pdf/426xlmmxmrc3pf.pdf

On the 18th they announced key they had verified key permits necessary to commence mining at Paser.
http://www.asx.com.au/asxpdf/20120618/pdf/426wg022qkl1n3.pdf

Cash on hand at the end of this quarter should be around $1.1m, but the concern for me is these guys are paying themselves $370k a quarter for not alot of result.

Bad luck for all the options holders who are going to cop it on June 30 too.


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## springhill (28 June 2012)

*Re: PXR - Padang Resources*

PXR have released a geological report on Paser.
http://www.asx.com.au/asxpdf/20120628/pdf/4272v5s5rlc17y.pdf

Highlights
• Interpretation of geological data identifies 3 potential coal seams varying in thickness from 0.4 – 3.4 meters;
• Drilling program to define a mineable resource to commence shortly


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## DAZT49 (29 June 2012)

*Re: PXR - Padang Resources*

Looks like commercial possiblities.
Dont know how they will finance any mine tho.


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## springhill (13 July 2012)

*Re: PXR - Padang Resources*

*Appointment and resignation of Chairman*
The Board of Directors of Padang Resources Limited (ASX: PXR) (Padang or Company) are very pleased to announce the appointment of Mr Peter Woods OAM as a non-executive director and chairman of the Company. Outgoing former chairman, Guy Le Page, will remain on the board as a non-executive director.
Mr Woods has had extensive Board and political experience in both the public and private sectors, nationally and internationally. He is a Justice of the Peace, Bachelor of Arts, Master of Letters and has a Certificate in Commercial Mediation. He is a Life Member of the Australian College of Educators and a Fellow of the Australian Institute of Company Directors.
His Directorships and political representation have included:
• Chair of the NSW Local Government Superannuation;
• Director of Chifley Financial Services;
• Director of Hawkesbridge Private Equity;
• President of the Local Government Association of New South Wales (of which he is now Patron);
• President of the Australian Local Government Association and Director; and
• Member of the Council of Australian Governments (COAG) and a member of numerous Ministerial Councils.
Peter Woods received the Order of Australia Medal in 1995, the Outstanding Service Medal in 2002 and was recognized with the conferral of the title “Emeritus Mayor” for long and distinguished service.
He has extensive experience in Asia-Pacific and throughout the World and following his service as Secretary General of United Cities and Local Governments (Asia Pacific), Asia Pacific President and World Vice President of the International Union of Local Authorities and a ten-year term as a Director of the Commonwealth Local Government Forum and considerable United Nations work, he was appointed as Ambassador for UCLG-ASPAC, a position he continues to occupy.
The board of directors also announce the resignation of Mr Anthony Short as a director of the Company.
The Company would like to take this opportunity to thank Mr Short for his commitment and service to the Company during his period of directorship.


That CV is all well and good, but is this the type of qualifications that are required for a prospective miner?


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## springhill (16 August 2012)

*Re: PXR - Padang Resources*

*Padang Completes Acquisition of the Paser Project, East Kalimantan and Advances to Mine Plan*

● Shareholders approve acquisition of 70% interest in the Paser Project;
● Drilling program to test for near surface coal targets to commence shortly.

Padang Resources announce that it has received Shareholder approval to proceed with the acquisition of a 70% interest in the Paser Project, East Kalimantan and will now move to settlement.
With the necessary approvals in place, the Company is committing to the acceleration of a drill program to be followed, subject to results, with a mine plan.
Interpretation of previous surface mapping, resistivity surveys and drilling has highlighted a number of near surface coal targets. The proposed drill program will be designed to confirm coal quality and the depth, thickness and spread of coal seams below surface.

Next steps
Padang will keep shareholders informed of any material developments regarding the mine plan for the Paser Project. Further, the Company continues to review additional projects that meet investment criteria within Kalimantan and in particular the Paser Region.


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## springhill (4 September 2012)

*Re: PXR - Padang Resources*

Alpha Securities report on PXR, take it with a grain of salt, a lemon wedge and a lot of tequila if you are a long suffering holder.
http://www.padangresources.com.au/files/files/36_Padang_Resources_4th_Draft_-_4_September_2012.pdf


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## springhill (6 September 2012)

*Re: PXR - Padang Resources*

Investor presentation
http://www.asx.com.au/asxpdf/20120904/pdf/428hss5xgss2dn.pdf


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## System (24 January 2013)

*Re: PXR - Padang Resources*

On January 21, 2013, Padang Resources Limited changed its name to Palace Resources Limited.


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## System (30 August 2015)

Palace Resources Limited (PXR) is now known as TikForce Limited (TIK).

Discussion of this company now continues in the TIK thread: https://www.aussiestockforums.com/forums/showthread.php?t=30174


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