# LRL - Leyshon Resources



## Mr Right (11 October 2006)

Leyshon keeps extending its mineralization, resource will be upgraded at the end of October. The rumor is to be more than doubled any one knows something about it.


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## Mr Right (9 November 2006)

LRL is due to release their upgraded resources. Being following it closely wont be surprised if they have more than doubled. Not a bad shere considering the low issue of shares to the public


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## Sean K (18 December 2006)

The new resource estimate must be due shortly.......By those latest drill results you'd have to think 2m + oz equiv easily. 

This looks very promising.


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## rub92me (18 December 2006)

I'm a big fan of this one, surprised it is still trading so thinly. I bought in a couple of months ago as a long term play. Very low-key quiet achiever so far. Their resources are very promising and they made a great strategic move partnering with the Chinese. I'm hoping this will take off next year, but willing to wait longer, if that's what it takes. So far it has been moving in the right direction anywhay...


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## Sean K (19 December 2006)

rub92me said:
			
		

> I'm a big fan of this one, surprised it is still trading so thinly. I bought in a couple of months ago as a long term play. Very low-key quiet achiever so far. Their resources are very promising and they made a great strategic move partnering with the Chinese. I'm hoping this will take off next year, but willing to wait longer, if that's what it takes. So far it has been moving in the right direction anywhay...



I think the reason it's so thinly traded is that the public only own 11% of it. I bought a handful yesterday and am going to start accumulating a little on weakness. Happy with the 7% up today!   

Reaching an all time high $0.68 today couldn't hurt.


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## greggy (19 December 2006)

kennas said:
			
		

> I think the reason it's so thinly traded is that the public only own 11% of it. I bought a handful yesterday and am going to start accumulating a little on weakness. Happy with the 7% up today!
> 
> Reaching an all time high $0.68 today couldn't hurt.



Hi Kennas,
I'm keeping an eye on this one too.  I will need to do some more research on it though. Nice chart and rise in share price considering the weak overall market.
DYOR


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## Sean K (19 December 2006)

greggy said:
			
		

> Hi Kennas,
> I'm keeping an eye on this one too.  I will need to do some more research on it though. Nice chart and rise in share price considering the weak overall market.
> DYOR



greggy, check their last couple of anns. Their company presentation tells all pretty much.


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## greggy (19 December 2006)

kennas said:
			
		

> greggy, check their last couple of anns. Their company presentation tells all pretty much.



Hi Kennas,

Thanks, I'll have another look at it.  By the way I hope you were able to pick up some MZM at low prices as you liked its website.
DYOR


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## Sean K (19 December 2006)

greggy said:
			
		

> Hi Kennas,
> 
> Thanks, I'll have another look at it.  By the way I hope you were able to pick up some MZM at low prices as you liked its website.
> DYOR



LOL.

I didn't like it *that *much, but I guess I should have!!


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## greggy (19 December 2006)

kennas said:
			
		

> LOL.
> 
> I didn't like it *that *much, but I guess I should have!!



Hi Kennas,

I'm sure you're still doing pretty well with your other stocks. Good luck.


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## Sean K (21 December 2006)

Pretty happy with the past few days on this little chinese digger!   

Perhaps the market is thinking more than doubling of the resource estimate to well over 2m oz au. 

I'm not sure if it can sustain such rapid gains though......

(holding)


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## rub92me (21 December 2006)

Before I bought this a couple of months ago I did some analysis on any relation between share price movements and positive announcements made. The interesting thing is that despite them openly disclosing for quite a while that at a conservative estimate the resource will likely more than double, the price didn't really react sharply as a result of any of these interim announcements. 
I'm not intending to sell for quite a while, and I guess most holders may have similar sentiments (unless the price gets really silly very quickly).
Market cap is still very reasonable for the likely resource, combined with comparatively cheap labour.


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## Sean K (4 January 2007)

One trade of 6.3m shares went through this am. Highly unusual. Usually only trades a few k a day.  

Resourse upgrade imminent perhaps?


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## rub92me (4 January 2007)

kennas said:
			
		

> One trade of 6.3m shares went through this am. Highly unusual. Usually only trades a few k a day.
> 
> Resourse upgrade imminent perhaps?



Maybe options; the transaction was at 0.55. Well, that's according to E'sometimes I 'trade. Could be any price, really...


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## Sean K (4 January 2007)

rub92me said:
			
		

> Maybe options; the transaction was at 0.55. Well, that's according to E'sometimes I 'trade. Could be any price, really...



 LOL.

Options maybe. Obviously it was off market some how. I didn't see a buy order and the stocks trading at $0.77, not 55......

I think it's just you and me on this one, rub me. Good luck. Had a good run so far.


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## moses (6 January 2007)

from the presentation...

"Mark Horn Values LRL NPV 39 pence (A$1) per share After Tax fully diluted based on current metal prices and 30% discount rate

Valuation expected to increase with addition of new resources and lower discount rate on commencement of production."

Well...the A$1 bit isn't compelling at 85c, but...there does seem reasonable potential for the "addition of new resources". Would appreciate some more expert opinion on the presentation...anyone?

http://www.leyshonresources.com/upload/documents/presentations/LondonOctober2006_24102006215149.pdf


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## Sean K (15 January 2007)

More significant results just in from the Zheng Guang Project.

Intersections range between 4 to 25 m @ 3 - 25 g/t au. Importantly, these were in the surface oxide zone and will ensure that the early mining will produce plenty of the yellow stuff.

Revised resource estimate due in Feb which is expected to be significantly upgraded. 

Up another 15%.....

(holding)


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## rub92me (25 January 2007)

Final results from Zheng Guang just announced. More rich intersections at shallow depth. Most of this probably already factored in to the price. The proof will be in the revised resource estimates. If it is more than double what they currently have, then this will get a boost. If it is less, it is likely to retrace. Further targets have been identified, and more drilling to come, so I'll be holding on regardless of that.


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## Sean K (21 February 2007)

LRL have stated that they are going to announce a revised JORC for the Zheng Guang Gold Zinc project in China, this month. Must be due very shortly. 

Their 31 Jan report stated that the resource estimate would "significantly increase the inferred resource of 930m oz au, 64 k tn zn and 2.6 m oz ag." Hopefully 'significant' is above anyones expectations and it gives the sp a boost. 

They aim to start mining this year.

On the chart, it's had a great run after breaking through at 60 cents where I first picked some up. Looking a bit shakey at $0.75 where there is some support. Really hit a wall at about 85 cents....lots of profit taking going on there. Stochastics starting to head back down to oversold area. 

Hopefully, the new resource beats expectations...


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## greggy (21 February 2007)

kennas said:
			
		

> LRL have stated that they are going to announce a revised JORC for the Zheng Guang Gold Zinc project in China, this month. Must be due very shortly.
> 
> Their 31 Jan report stated that the resource estimate would "significantly increase the inferred resource of 930m oz au, 64 k tn zn and 2.6 m oz ag." Hopefully 'significant' is above anyones expectations and it gives the sp a boost.
> 
> ...



Hi Kennas,

Welcome back.
Nice chart and blog.  When you book comes out put me down for one.  This stock seems to be in a correction phase.
DYOR


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## rub92me (21 February 2007)

Big buy order of 500,000 shares at 0.74 has kept this up (although a large chunk was taken out yesterday just before the close) and not many sellers. Volumes likely to remain low until the revised JORC. A bit of consolidation is always good, and if it does jump it will provide good support going forward.


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## rub92me (16 March 2007)

I'm getting a bit miffed with this lot. Revised JORC was promised in february, and they've been sitting on it for more than 7 weeks now and we still haven't heard anything. I guess I'm not the only one, so share price has been sliding.  :bad:


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## Sean K (17 March 2007)

rub92me said:
			
		

> I'm getting a bit miffed with this lot. Revised JORC was promised in february, and they've been sitting on it for more than 7 weeks now and we still haven't heard anything. I guess I'm not the only one, so share price has been sliding.  :bad:



Yep, I agree with those sentiments, and no update to explain why the delay.....Maybe contact the company.


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## Sean K (19 March 2007)

Revised JORC out. 1.73m oz au equiv. Significant upgrade. I was thinking 2 might have been good, so not sure about this. Let's see what Mr Market thinks...


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## rub92me (19 March 2007)

They must have heard us. I was hoping for a bit more too and it doesn't seem to wow the market either... Oh well, still a good hold at the moment as long as it doesn't slide any further.


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## Sean K (28 March 2007)

Not many buyers out there Rubme...  Concerning. 

Any thoughts?


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## rub92me (28 March 2007)

Back to very low volume trading again. It took me a couple of weeks to buy in the parcel at the price I wanted a while back. If you have more than a handful of shares, then it will be hard to get rid of them at this point. If you want to unload, patience is required. More drilling and possible capital raising ahead in the next 3 months (from May) will hopefully get this going again. On the backburner for now...


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## rub92me (5 September 2007)

Added to my position recently below 50 cents. Thin volume is still a concern at the moment with this one so no good for short term trading. The last couple of days finally saw some interest again, but today all sellers have disappeared. Bids at 49 cents and 2 small sellers at 75 cents and 85 cents. That's a 50% gap between bid and ask! It probably won't start moving for real until 2008 when we get closer to mining. Could get a bit volatile in between though if we get some jokers buying small parcels at market at this stage .


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## kiwiloe (5 October 2007)

LRL has been showing signs of life these past few days. Aussie market following London it seems.  Last night finished at the equivalent of AUD$0.74  on AIM , so hopefully Aussie market will continue to follow.

Certainly was a steal round 50 cents, glad I took another bite


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## daggs (6 December 2007)

bought in today at .645 expecting a bit a run leading in to production.
Anyone still holding this?
I noticed previous posts mention the lean sell side,is this normal for this stock, Shares up for grabs now (120,000) are less than todays total traded volume (13700).


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## daggs (6 December 2007)

Just had another look at the market depth and the big seller just pulled his 100,000 shares from sale. only 20,000 shares left on the sell side!


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## evwatkins (12 December 2007)

so what are peoples thoughts on LRL, im interested in buying in

anyone else watching this little fella lately?


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## rub92me (12 December 2007)

Still holding, most of it bought over a year ago. Typically would expect this to appreciate in price once they get to production but expect some wobbles on the price because it is tightly held and very thinly traded. They have a lot of prospective ground at it is early days yet.


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## rub92me (29 October 2008)

Have been out of this for quite a while now, but still watching closely.
A major shareholder dumped 5 million shares yesterday, dragging it down to 6 cents. Economics of their project look fantastic: average production cost of USD 250 per ounce. Obviously they will need funding (about 60 million) to get it up and running and 'the market' seems to be pessimistic about their chances. I think their chances are actually better than most in a similar situation, because or their close ties and cooperation with the Chinese. Playing it safe however and waiting to see what will transpire.


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## Sean K (17 April 2009)

In an environment when punters are supposed to be turning to gold, this one is a total failure. I really can't understand why they are trying to sell it now. They said they were going to wait till Apr 09 to restart machinery so expect an ann shortly.

In the Sep Q they were pausing for the winter and to save some cash but had every intention of taking it to production. Then the Dec Q the lights are out and they want to sell the project. Why? They have 1.7m oz au equiv and have been ramping all the great benefits of the project for yonks. $250 cash costs, infrastructure, cheap labour, supportive community and government. Something on the nose with this turkey.

224m @ .08 = $17m mc with 1.7m ounces equiv! Crazy!!

Probably a bottom in the chart here, but they're running out of cash I think. If no banks come to the rescue, or another company take interest, then they could be headed for the grave yard.


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## lazyfish (13 October 2009)

kennas said:


> In an environment when punters are supposed to be turning to gold, this one is a total failure. I really can't understand why they are trying to sell it now. They said they were going to wait till Apr 09 to restart machinery so expect an ann shortly.
> 
> In the Sep Q they were pausing for the winter and to save some cash but had every intention of taking it to production. Then the Dec Q the lights are out and they want to sell the project. Why? They have 1.7m oz au equiv and have been ramping all the great benefits of the project for yonks. $250 cash costs, infrastructure, cheap labour, supportive community and government. Something on the nose with this turkey.
> 
> ...




I can not comment on why they want to sell their only asset, but would like to point out that after settlement the cash backing per share would be ~24 cents (see last ann). Sp is currently sitting at 13.5 cents. There's always the risk of the deal not going through, but is such a big discount justified?


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## lazyfish (2 December 2009)

All cash has been received following the sale. Free cash (after withholding tax) stands at 22cents each (see latest ann). Current sp is 16.5 cents.

I intend to use this opportunity to unload


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## matty77 (23 February 2010)

back on the radar, anyone have any thoughts on this stock?



lengthen the post otherwise it is too short.


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## springhill (27 June 2012)

Who says one man's trash isn't another man's treasure?
http://www.asx.com.au/asxpdf/20120627/pdf/4272bn4g16r25n.pdf

Leyshon Resources Limited is pleased to announce that it has commenced a drill and test work programme on a large stockpile of ball mill scats at its wholly owned Mt Leyshon Gold Project in Queensland.
The programme is designed to follow up a number of previous studies which have shown, that depending on the treatment route selected, between 100,000 and 175,000 ounces of gold can be recovered through the retreatment of the highly mineralized material.
The material was stockpiled at a time when gold prices averaged around US$300 per ounce and the most recent of the previous studies was based on a gold price of US$780 per ounce.
The current programme is expected to show that at current gold prices in excess of US$1,500 per ounce, retreatment of the stockpile will generate a strong operating surplus.

The stockpile comprises approximately 12-15 million tonnes of highly mineralised ball mill scats.
One option provided for in the closure plan is for the scats to be reprocessed. A study in 2007 concluded that treatment of the scats could produce approximately 100,000 ounces of gold and at a gold price of US$780 per ounce would generate an operating surplus of $25 million before capital.
Management has also conducted a review of the status of exploration of the 25 km² mining licence at the time of the mine’s closure in 2002. The results show that although extensive work was done there was no follow up on some very interesting results due to the prevailing gold price of around US$300 per ounce.

LRL have also been participating in a share buy back.

They have 246m shares on issue with $52m in the bank, making the cash equivalent to the SP. Suprising!

On my numero uno watchlist.


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## springhill (16 July 2012)

LRL placed into trading halt regarding a proposed acquisition.

*Cash position $50m, MC $42m.*


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## titleisttony (17 July 2012)

Nice to see someone in Oz has picked up on this stock (It is an Aussie company after all).  The boards over here in the UK are dead.  I've been banging on to my mates for a few weeks about a bottom forming and LRL's inherent value but no one seems interested.  If the announcement on Wednesday doesn't get the price moving, then I'll eat my golf clubs !!


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## Sean K (17 July 2012)

springhill said:


> Who says one man's trash isn't another man's treasure?
> http://www.asx.com.au/asxpdf/20120627/pdf/4272bn4g16r25n.pdf
> 
> Leyshon Resources Limited is pleased to announce that it has commenced a drill and test work programme on a large stockpile of ball mill scats at its wholly owned Mt Leyshon Gold Project in Queensland.
> ...



The only technology I know that could economically get the gold out of this waste is the Albion Technology currently going through initial operation in the DR by PGI. It's current'y operating but with no official gold pour or costs per ounce yet, I'm on the fence. 

Is this the same management who failed in China?


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## springhill (17 July 2012)

kennas said:


> The only technology I know that could economically get the gold out of this waste is the Albion Technology currently going through initial operation in the DR by PGI. It's current'y operating but with no official gold pour or costs per ounce yet, I'm on the fence.
> 
> Is this the same management who failed in China?




I would hardly call this a failure in China.
http://www.asx.com.au/asxpdf/20090922/pdf/31kvjtjnjjt123.pdf

It is not the project that caught my eye, it was the cash:MC position. I can't think of another one like this off the top of my head.
They are in a halt regarding an acquisition, so maybe more success (or failure) in China, or Mongolia, which they seem to mention alot.


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## titleisttony (18 July 2012)

springhill said:


> I would hardly call this a failure in China.
> http://www.asx.com.au/asxpdf/20090922/pdf/31kvjtjnjjt123.pdf
> 
> It is not the project that caught my eye, it was the cash:MC position. I can't think of another one like this off the top of my head.
> They are in a halt regarding an acquisition, so maybe more success (or failure) in China, or Mongolia, which they seem to mention alot.






If you invested 5 years ago, LRL's price is down by approx 60% (UK prices).  However, the big drop in the price took place during the 2008-09 credit crunch when there were doubts that Atherley would be able to raise finance to complete the project he had already started. i.e. Wipeout.  The bottom in the UK was around 3 pence.  If you had been brave enough to invest at that point you'd be on a 3 or 4 bagger.  So as with all investments, good timing = good profits.  Atherley seems to have learned his lesson and is heading into this Chinese/Mongolian coal project (if that's what is to be announced on Wed) with a decent bank balance.  It's refreshing to see a small miner with a sensible streak instead of a snake oil salesman with a pipedream.  Hopefully, he and we will be rewarded this time.


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## springhill (18 July 2012)

*Proposed Acquisition Of Stake In China’s Unconventional Gas Revolution*

Leyshon Resources announce that it expects to finalise terms shortly to acquire a company which holds a 100% interest in the Zijinshan Production Sharing Contract located on the eastern fringe of the prolific Ordos Gas
Basin in Central China.

Respected industry advisor RISC has advised that in its view the Zijinshan Gas Project contains gross prospective resources that are potentially large due to the confirmation of the presence of unconventional gas, with in place estimates in the range 1 to 3.8 Trillion Cubic Feet. The Ordos basin generally offers one of the highest potential IRR’s in China.

RISC does however caution that whilst the opportunity appears attractive it contains significant risk which must be mitigated via the acquisition of appropriate data and completion of a pilot plan. The Company plans to retain RISC as its advisor in the exploration and development phase of the project.

Under the proposal Leyshon will acquire a 100% interest in Hong Kong Company Pacific Asia Petroleum Limited (PAPL) from Houston based CAMAC Energy Inc. Leyshon is currently undertaking final due diligence and the parties are expecting to finalise a Share and Purchase Agreement to complete the transaction by the 27th July.
PAPL is well established in the Oil and Gas Exploration sector in China and under the proposed terms of the acquisition its experienced technical team will be retained. The team has already completed four wells under the Zijinshan Production Sharing Contract, two of which have been cased, and acquired 160 kilometres of 2 D seismic data which has been used to identify several major gas exploration targets.

The initial exploration focus will be on drilling several new wells to test extensions to nearby major shale gas discoveries and production testing the cased wells.

The Zijinshan Production Sharing Contract is with one of China’s major oil and gas companies which has retained the right to buy back a 40% interest in the contract at the completion of the exploration phase and to jointly fund the project into production.

As previously announced the Company remains firmly of the view that, in light of the expanding demand for all types of energy within Central China over the next ten years, high quality energy assets located close to transport and distribution infrastructure will become increasingly valuable over time.

As a result, management is of the view that the acquisition and potential development of shale gas assets in the Ordos Basin has the ability to complement the Company’s potential energy coal acquisition in Xinjiang.


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## Sean K (19 July 2012)

springhill said:


> I would hardly call this a failure in China.
> http://www.asx.com.au/asxpdf/20090922/pdf/31kvjtjnjjt123.pdf



I counted it a failure at the time and it was a slap in the face to investors. Maybe it was just their communication plan but up until the day they announced they were selling they were going to build a mine. That's just from memory, it was a few years ago. I personally never invested, had just done a bit of research.


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## springhill (26 July 2012)

*Acquisition Of Stake In China’s Unconventional Gas Revolution*

Leyshon Resources Limited (AIM/ASX:LRL) (“the Company”) is very pleased to announce that it has signed a definitive share sale and purchase agreement for the acquisition of Hong Kong Company Pacific Asia Petroleum Limited (PAPL) which holds a 100% interest in the Zijinshan Production Sharing Contract located on the eastern fringe of the prolific Ordos Gas Basin in Central China.

Leyshon has acquired PAPL from Houston based CAMAC Energy Inc for a consideration of US$2.5 million in cash and the issue 10,000,000 fully paid ordinary shares.

The Company is not intending to seek the approval of security holders for the transaction unless ASX requires it under Listing Rule 11.1.2 or 11.2, and is applying to ASX for a determination as to whether security holder approval is required under the Listing Rules.


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## titleisttony (19 October 2012)

IN CASE YOU'RE WONDERING WHY THE BUY SIDE EXPLODED IN THE UK AT LUNCHTIME THURSDAY, THIS HIT THE WIRES. 


China Unlikely to Replicate US Shale Gas Boom -Executive

7:42 AM ET on Thursday, October 18, 2012


 By Jacob Gronholt-Pedersen 

China is unlikely to replicate the shale gas boom of the United States in speed or scale, but low drilling costs and high local gas prices make it attractive to drill for unconventional gas reserves, says the top executive at one of the few foreign companies drilling for gas in China. 
China has ambitious plans to sharply increase natural gas output in the coming decade by following in the footsteps of the U.S., where hydraulic fracturing has spurred a shale gas boom in recent years. 
It recently set a target of producing 6.5 billion cubic meters of shale gas annually by 2015, up from virtually zero this year. It is also aiming to rapidly increase production to 60 billion-100 billion cubic meters a year by 2020. 
However, these targets could be difficult to achieve due to a lack of technology and geological information about the reserves, Paul Atherley, managing director of AIM-listed Leyshon Resources Ltd. (LRL), told Dow Jones Newswires Thursday. 
"If they want to reach those targets, they need to get out there and drill. And that's just not happening at the moment." 
Initial estimates by the U.S. Energy Information Administration show China's shale gas reserves are even larger than those of the U.S. 
However, the economics of drilling for gas "are very attractive," he said. 
Drilling an exploration well costs only around $1.5 million, about a third compared with Eagle Ford, Texas, he added. 
Australia-based Leyshon this year acquired the right to explore for unconventional gas in the Ordos Basin in Shanxi province in central China. 
The company plans to complete drilling the first two wells this year and has committed $25 million to drill a total of 13 wells in the block by 2014. 
According to initial estimates, the block holds potential reserves of up to 3.8 trillion cubic feet of unconventional gas. 
A tender for 20 shale gas blocks announced last month marked the first time China allowed foreign companies to participate in joint venture bids as minority partners. The first round in June 2011 was limited to state-owned companies. 
The prospect of drilling for possibly the largest unconventional gas reserves in the world has already drawn interest from international majors such as BP PLC (BP), Chevron Corp. (CVX), Total SA (TOT), ConocoPhillips and Eni SpA (E). 
In March, Royal Dutch Shell PLC (RDSB.LN) signed the first major production-sharing contract, with China National Petroleum Corp., for exploration of a shale gas deposit in the Sichuan Basin. 
Under a similar pact, the gas produced by Leyshon Resources will be sold to a local distributor at a fixed price of $7.2 per 1,000 standard cubic feet. In comparison, U.S. gas prices are below $3 now. 
State-owned PetroChina holds an option to buy 40% of any project if Leyshon finds commercial gas reserves. 

Write to Jacob Gronholt-Pedersen at jacob.pedersen@dowjones.com 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires 

(END) Dow Jones Newswires
 October 18, 2012 07:42 ET (11:42 GMT)
 Copyright (c) 2012 Dow Jones & Company, Inc..


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## mr. jeff (19 October 2012)

thanks for the heads up and an interesting story.

The chart has a large volume traded over the last week or two and may be a sign of an end to the sell down. Looking a move up to around 23c to show a change of trend. Currently having a look at 17.5c .


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## mr. jeff (24 October 2012)

Not much action here, but the volume is certainly there,





Looking for a move up to commence soon or some sort of 3b to arrive.


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## springhill (24 October 2012)

LRL had slipped off my radar due to inactivity of the stock. Will have to revisit this one, time permitting.


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## mr. jeff (9 November 2012)

springhill said:


> LRL had slipped off my radar due to inactivity of the stock. Will have to revisit this one, time permitting.




I have just torn out a chunk of hair as the same old story unfolds. Due to a sense that the market is not strong at the moment and based on no price action with LRL with all that volume, I sold this morning. 
This afternoon it moves up 15%.

Will watch for a test for re-entry.


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## springhill (9 November 2012)

mr. jeff said:


> I have just torn out a chunk of hair as the same old story unfolds. Due to a sense that the market is not strong at the moment and based on no price action with LRL with all that volume, I sold this morning.
> This afternoon it moves up 15%.
> 
> Will watch for a test for re-entry.




There has been volume since the beginning of October, but nothing on the level of what happened today. Speculative money coming in for a company with a near 1:1 MC:Cash ratio with a nice drill campaign underway, Mr Jeff?

Another area of interest from Sept Quarterly is the Buy Back has been increased from 5.5 to 24 million shares to be purchased on market no later than 12 September 2013.

*From Sept Quarter*
Leyshon Resources  previously announced that the recently appointed management team at Pacific Asia Petroleum Limited (PAPL), which Leyshon acquired in August for US$ 2.5 million in cash and the issue of 10 million fully paid ordinary shares, has commenced drilling at the 708 km² Zijinshan block located on the Eastern flank of the prolific Ordos Basin, China’s second largest and one of the world’s major gas producing basins.
The new management team, which successfully drilled and appraised the recent multi-Tcf gas discoveries on the adjacent Sanjiaobei and Linxing blocks, has designed an initial three well programme to test for gas in similar formations over a 600 metre interval to a depth of approximately 2.4 kilometres.
The first of two wells are expected to be completed by the end of November with completion of the third expected in the new year. The total cost for drilling, logging, casing, fracking and flow testing the three wells is estimated at around US$ 5 million.
The wells are located within 10 kilometres of a tie in point on the Lin-Lin pipeline which supplies the growing demand in Shanxi Province where well head contracts have recently been struck in the US$ 6 - 7.5 per mscf range.
PAPL has a 100% interest in the exploration phase of the Production Sharing Contract (PSC) with PetroChina, which has the right to buy back a 40% interest at the development stage.


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## titleisttony (12 November 2012)

_


mr. jeff said:



			I have just torn out a chunk of hair as the same old story unfolds. Due to a sense that the market is not strong at the moment and based on no price action with LRL with all that volume, I sold this morning. 
This afternoon it moves up 15%.

Will watch for a test for re-entry.
		
Click to expand...


_

Mr Jeff,
Hang your head in shame.  The high volume was CAMAC selling down their 10m shares to use the money elsewhere cos they're not as flush as LRL. Now that the selling is pretty much over, the only way is up. PA has been on a presentation tour in the UK over the last couple of weeks and the media / tip sheets have only just realised the value of an explorer with cash in the bank added to the mindblowing potential of the ORDOS drilling. Best to get back on and ride this possible multibagger like me.  As ever DYOR and enjoy.


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## titleisttony (13 November 2012)

titleisttony said:


> Mr Jeff,
> Hang your head in shame.  The high volume was CAMAC selling down their 10m shares to use the money elsewhere cos they're not as flush as LRL. Now that the selling is pretty much over, the only way is up. PA has been on a presentation tour in the UK over the last couple of weeks and the media / tip sheets have only just realised the value of an explorer with cash in the bank added to the mindblowing potential of the ORDOS drilling. Best to get back on and ride this possible multibagger like me.  As ever DYOR and enjoy.




Further info from the UK.  Today's volume was 6.34m shares which puts Friday's vol in the shade. Towards close of play, it was not possible to buy at the quoted ask of 16.25p. Buy pressure building late in the day in the UK so more upside probable down your way on Tues.


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## titleisttony (14 November 2012)

titleisttony said:


> Further info from the UK.  Today's volume was 6.34m shares which puts Friday's vol in the shade. Towards close of play, it was not possible to buy at the quoted ask of 16.25p. Buy pressure building late in the day in the UK so more upside probable down your way on Tues.




Tuesday vol in the UK down to under 1.5m shares.  Dropped straight out of the starting gate (prob due in part to ASX Tuesday treading water) then bounced off 14p to end around 14.5p.  Most pessimistic sum of parts valuation considering cash (12ppshare) + value of production sharing agreement (1.5ppshare) + small gold recovery margin at Mt Leyshon is at least that value.  So you can buy the potential upside for zip.


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## mr. jeff (14 November 2012)

titleisttony said:


> Tuesday vol in the UK down to under 1.5m shares.  Dropped straight out of the starting gate (prob due in part to ASX Tuesday treading water) then bounced off 14p to end around 14.5p.  Most pessimistic sum of parts valuation considering cash (12ppshare) + value of production sharing agreement (1.5ppshare) + small gold recovery margin at Mt Leyshon is at least that value.  So you can buy the potential upside for zip.




Can you tell us about the potential upside and what exactly they have planned in the near term which might be catalysts preventing the sp. from cliff diving like mid- Feb ?


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## titleisttony (14 November 2012)

mr. jeff said:


> Can you tell us about the potential upside and what exactly they have planned in the near term which might be catalysts preventing the sp. from cliff diving like mid- Feb ?




Mr Jeff,
The difference between now and Feb2012 is volume and knowledge. The jump in Feb was due to expectations of an imminent coal agreement which didn't occur.  Well done to PA for putting that one on ice. Also, Rathbones announced that they had sold down their major stake in LRL. However, check the charts. At that time, the rise happened on next to no volume and the share slipped back to be valued at less than cash in the bank.  This time around, PA has got the message out in the UK and volumes have jumped. I don't know what the main chat boards are called in Oz but if you have a look at LRL on the iii.co.uk board in the uk going back to the start of last week, among the postings and the blatant rampers, you'll find several links to LRL presentations / news articles explaining the future. 
For the chartists (if you believe in esoteric stuff), the 2nd Fibonacci retracement level seems to be holding. 
As ever DYOR and enjoy the ride.
TT


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## titleisttony (15 November 2012)

titleisttony said:


> Mr Jeff,
> The difference between now and Feb2012 is volume and knowledge. The jump in Feb was due to expectations of an imminent coal agreement which didn't occur.  Well done to PA for putting that one on ice. Also, Rathbones announced that they had sold down their major stake in LRL. However, check the charts. At that time, the rise happened on next to no volume and the share slipped back to be valued at less than cash in the bank.  This time around, PA has got the message out in the UK and volumes have jumped. I don't know what the main chat boards are called in Oz but if you have a look at LRL on the iii.co.uk board in the uk going back to the start of last week, among the postings and the blatant rampers, you'll find several links to LRL presentations / news articles explaining the future.
> For the chartists (if you believe in esoteric stuff), the 2nd Fibonacci retracement level seems to be holding.
> As ever DYOR and enjoy the ride.
> TT




Mr Jeff,
Same pattern as yesterday in the UK - Early drop (poss due to weak ASX lead) followed by steady buying at increased prices with last trades at 14.4p (approx 22cents). The 14p level has held for a second day - that Fibonacci geezer must've been a sharp cookie ! The downside is that the volume was pretty lousy at 380k but still well above the daily volumes before the CAMAC sales started last month.  The good news is that LRL announced that the CAMAC overhang has gone.  They're off to concentrate on their Oyo field in W. Africa.
TT
ps Hope you've had time to watch the interview with PA on Youtube.


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## mr. jeff (15 November 2012)

titleisttony said:


> Mr Jeff,
> Same pattern as yesterday in the UK - Early drop (poss due to weak ASX lead) followed by steady buying at increased prices with last trades at 14.4p (approx 22cents). The 14p level has held for a second day - that Fibonacci geezer must've been a sharp cookie ! The downside is that the volume was pretty lousy at 380k but still well above the daily volumes before the CAMAC sales started last month.  The good news is that LRL announced that the CAMAC overhang has gone.  They're off to concentrate on their Oyo field in W. Africa.
> TT
> ps Hope you've had time to watch the interview with PA on Youtube.






			
				youtube blurb said:
			
		

> Paul Atherley, MD of Leyshon Resources (LON:LRL ASX:LRL) tells Proactiveinvestors that its setting itself up to take the opportunity to pump gas from an area that already has excellent production rates. Paul looks ahead to the drill results in early December and the proposition of supplying an economy that HAS to find other sources of gas to feed its growing energy demand.




The video is interesting, PA a real salesman, but he does make some valid points on cash backing, no need for immediate capital, and the 3 well program with drilling underway. 
Due to this drilling, there may be a good bit more upside leading up to December results, based on cash at bank.

The low volume down day is a positive sign and if it comes through on the ASX today I will be looking to enter on it.


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## titleisttony (16 November 2012)

mr. jeff said:


> The video is interesting, PA a real salesman, but he does make some valid points on cash backing, no need for immediate capital, and the 3 well program with drilling underway.
> Due to this drilling, there may be a good bit more upside leading up to December results, based on cash at bank.
> 
> The low volume down day is a positive sign and if it comes through on the ASX today I will be looking to enter on it.




Mr Jeff,
Thursday in the UK was a bit disappointing after the ASX spent the day treading water overnight.  Volume picked up slightly at 838k but prices slipped early with a late recovery which is a similar pattern to yesterday. However, the eod price was lower than the start of day price with buys at 13.875p (about 21.2 cents).  This pattern is typical of a MM attempting to shake out sellers and IMO, will probably continue for a few days yet.  Having topped up a few times on the way down, I'm now going to wait until the eod BID is higher than the start of day ASK before buying again.  However, you may see it differently when you DYOR.  Enjoy.
TT


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## titleisttony (16 November 2012)

titleisttony said:


> Mr Jeff,
> Thursday in the UK was a bit disappointing after the ASX spent the day treading water overnight.  Volume picked up slightly at 838k but prices slipped early with a late recovery which is a similar pattern to yesterday. However, the eod price was lower than the start of day price with buys at 13.875p (about 21.2 cents).  This pattern is typical of a MM attempting to shake out sellers and IMO, will probably continue for a few days yet.  Having topped up a few times on the way down, I'm now going to wait until the eod BID is higher than the start of day ASK before buying again.  However, you may see it differently when you DYOR.  Enjoy.
> TT




Mr Jeff, 
Slight amendment to the above.  Volume was over 1m shares. The MM was keeping the biggest transactions under cover 'til after close of play. IMO, these were 2 BUYs at 13.75p for approx £25k (AUS$38k) each (181731 shares) which transacted just after lunch.  The wily MM is gradually sliding the price but if anything, IMO, there are more shares bought than sold because due to the wide published bid/offer spread, many BUYS going through at under the midpoint look like SELLS on brokers systems.  As ever, DYOR.


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## titleisttony (17 November 2012)

titleisttony said:


> Mr Jeff,
> Slight amendment to the above.  Volume was over 1m shares. The MM was keeping the biggest transactions under cover 'til after close of play. IMO, these were 2 BUYs at 13.75p for approx £25k (AUS$38k) each (181731 shares) which transacted just after lunch.  The wily MM is gradually sliding the price but if anything, IMO, there are more shares bought than sold because due to the wide published bid/offer spread, many BUYS going through at under the midpoint look like SELLS on brokers systems.  As ever, DYOR.




Mr Jeff
Friday in the UK was interesting.  Over 1m shares traded on the back of a BUY tip/article in the Investors Chronicle which is the traditional retail investors mag in the UK. The same mag ran a website article last week. After an initial pop which didn't achieve new highs , the price action settled in the 14.5p - 15.0p range (approx 22 - 23 cents).  IMO, the market maker wanted to take the action higher but stale bulls may have been lingering at 15p.  There's probably about a week where the MM may attempt to squeeze out sellers before excitement grows and the price may rise into the results.
However, if a sunday newspaper runs an article, a further pop may occur. As always DYOR. ( I'm off for a couple of weeks now so enjoy the ride. )


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## mr. jeff (18 November 2012)

titleisttony said:


> Mr Jeff
> Friday in the UK was interesting.  Over 1m shares traded on the back of a BUY tip/article in the Investors Chronicle which is the traditional retail investors mag in the UK. The same mag ran a website article last week. After an initial pop which didn't achieve new highs , the price action settled in the 14.5p - 15.0p range (approx 22 - 23 cents).  IMO, the market maker wanted to take the action higher but stale bulls may have been lingering at 15p.  There's probably about a week where the MM may attempt to squeeze out sellers before excitement grows and the price may rise into the results.
> However, if a sunday newspaper runs an article, a further pop may occur. As always DYOR. ( I'm off for a couple of weeks now so enjoy the ride. )




Thanks for the updates and will keep an eye on it and see how it goes for the week. Looking Ok thus far.


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## mr. jeff (19 November 2012)

mr. jeff said:


> Thanks for the updates and will keep an eye on it and see how it goes for the week. Looking Ok thus far.





...and today we get about 600k traded and return of some strength. Quite a positive sign with little selling.
Reassuring action, will be looking for more volume in the coming days...


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## mr. jeff (24 November 2012)

mr. jeff said:


> ...and today we get about 600k traded and return of some strength. Quite a positive sign with little selling.
> Reassuring action, will be looking for more volume in the coming days...




Suspended from quotation awaiting release of drilling announcement; here's hoping they have something decent to report. I am holding a few in anticipation of big news.


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## mr. jeff (16 January 2013)

following comments from their first 2 of 3 drills;

"Managing Director Paul Atherley Commented:
“This is about the best outcome we could have hoped for with the first two wells encountering
over 135 metres of cumulative pay intervals within the targeted formations. The exploration
programme to date has exceeded our initial expectations and as a result we now have multiple
zones within these intervals to test for commercial gas flows"

Would seem quite positive, however the market response is flat to negative.

Nevertheless, they have currently 18cps in cash, quite a lot.

anyone have further info?


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## titleisttony (4 February 2013)

mr. jeff said:


> following comments from their first 2 of 3 drills;
> 
> "Managing Director Paul Atherley Commented:
> “This is about the best outcome we could have hoped for with the first two wells encountering
> ...




Atherley the MD bought 1.8m shares at the end of last week.  His holding prior to the BUY was 29.58m shares made up of 2 x 15m options exercised over 5 years ago less 1m sale for tax reasons + a 580k purchase at 10.5p in 2010.  His only purchase at market prices was the 580k.  Now he has bought 1.8m shares at the market price of 14.91p.  All day Friday in the UK, the market makers were delaying publication of large BUYS until they were able to display them below the broker's bid/offer midpoint to make them look like sales.  Don't let the MMs confuse you.  These were large BUYs going through.  IMO, Atherley would only buy 1.8m shares if he is confident that the drilling is finding commercial quantities of gas.  I believe that BUY signals as easy to understand as this one don't come along every day.  When funds/trusts start moving in to this stock, it will spike.  As ever, DYOR and GL.


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## titleisttony (5 February 2013)

titleisttony said:


> Atherley the MD bought 1.8m shares at the end of last week.  His holding prior to the BUY was 29.58m shares made up of 2 x 15m options exercised over 5 years ago less 1m sale for tax reasons + a 580k purchase at 10.5p in 2010.  His only purchase at market prices was the 580k.  Now he has bought 1.8m shares at the market price of 14.91p.  All day Friday in the UK, the market makers were delaying publication of large BUYS until they were able to display them below the broker's bid/offer midpoint to make them look like sales.  Don't let the MMs confuse you.  These were large BUYs going through.  IMO, Atherley would only buy 1.8m shares if he is confident that the drilling is finding commercial quantities of gas.  I believe that BUY signals as easy to understand as this one don't come along every day.  When funds/trusts start moving in to this stock, it will spike.  As ever, DYOR and GL.




Mr Jeff
UK Monday:  Good volume. Price up. Marketmakers delayed the publishing of large BUYs til near end of play and managed to rattle a few inexperienced punters into selling with a slight price drop in the last hour.  IMO, LRL has much further to rise.  As ever, DYOR and GL.   TT


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## HCC (15 January 2014)

any idea what happened to LRL? Share price shed more than 80%...


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## piggybank (15 January 2014)

HCC said:


> any idea what happened to LRL? Share price shed more than 80%...




It is the last day of trading before the split entitlement takes place.

UPDATE - SEPARATION OF ENERGY AND MINERAL ASSETS - http://stocknessmonster.com/news-item?S=LRL&E=ASX&N=653071

An interesting speech made by the MD Paul Atherley - http://leyshonresources.com/Investors-Centre/Archived-Presentations -  Then click on the link entitled "The Leyshon Story In Eight Minutes - Paul Atherley MD" very interesting

I hope this helps...


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## Dona Ferentes (3 November 2021)

Leyshon Resources (LRL) .... delisted from the close of trading on Monday, 17 July 2017 pursuant to Listing rule 17.12.

for Leyshon Resources, a *loss declaration * has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued .... in this case 2018/19


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