# PSP - Prosperity Resources



## moneymajix (7 July 2007)

Closed at 15c

Ann. 18 June

DETAILED MAPPING CONFIRMS STRIKE AT 
WOOLSHED IRON ORE PROSPECT, 
25 KM NORTH OF MT GIBSON, W.A. 

Prosperity Resources Limited (ASX: PSP) and Mawson West (ASX:MWE) are pleased to 
announce results following a recent detailed mapping programme on the Woolshed Prospect 
as recommended by Hematite Consultants. 
Present indications show a potential exploration target size of approximately 50-60MT of 
prospective DSO 
Prosperity Resources Ltd’s Managing Director, Mr Ric Dawson said “This detailed mapping 
programme, which is testing an area with a strike length of 4 kilometres, will now progress to 
drilling to test from iron enrichment at depth.” 
Follow up iron analysis results from the mapping programme should be released in about two 
weeks and in the coming quarter RC drilling will commence after sourcing a suitable drill rig. 
Mr Dawson said, “With close proximity to Gindalbie Metals Ltd’s Karara Iron Ore deposits, 
Mt Gibson Iron’s Extension Hill deposits and the existing road infrastructure, the 
prospectivity for this area is significant.” 

For further information contact: 
Ric Dawson 
Managing Director


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## Bushman (19 July 2007)

Hematite Consultants played a role in identifying the GBG Mt Karara deposit in 2005. Not much to hang your hat on but it is something. 

http://www.theajmonline.com/informaoz/ajm/home.jsp?var_el=archart&art_id=1107874699447&seqnum=217

Mt Gibson Woolshed iron ore prospect: 50 to 60 MT iron with assay results grading up to 59% Fe. To quote the announcement, 'the potential quantity is conceptual in nature, there has been insufficient exploration to define a Mineral Resource'. Hence the company is planning a reverse drilling programme to test the enrichment @ depth.

Woolshed earnings - 60% PSP and 40% MWE.

Also has 2 further iron ore Mt Gibson prospects (Warriedar, Mummalou) along with minority interests in an Indonesian copper project. Woolshed though is the best of the 3.

*Note cash per March 2005 App 5B is only $477k! *

Very early days but worth keeping an eye on. No announcement yet as to the start of the drilling progamme.


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## countryboy (19 July 2007)

Bushman- have been looking at this stock for some time. I think they have spread themselves too thinly with a recent announcement about U in the Nt adding to a swag of metals they are chasing. It was enough for me to take my money elsewhere. I keep looking at it because its so cheap. Given its price could be worth a min amount as specy. Keep the info coming !


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## Bushman (20 July 2007)

Just an update on the cash position CB - new App 5B just released. 

Cash at the end of the June quarter is now $2,771k. Sorry mate - missed the fact that they had a capital raising to '7 international institutions from Uk, China, Singapore, Aus & US' to place 50m ordinary shares at 10c plus rights to to options. All in this should raise $5m. They received half of it this quarter. 

So now they have cash and some instos on board. No idea who these might be? Cash is to be burned on the Tennant Creek tenement and the Woolshed iron ore diamond drilling. Should be a few more years exploration left in them yet. 

Current market cap = 93,775,373 undiluted shares @ 16c = approx 150m. 

Some action at the fort perhaps CB? Will be keeping my out for those drill results and then jump on early if anything looks promising. It is the age of the Aussie iron ore explorer after all. Doing well out of POL at the moment.  

*DYOR though!! *


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## Bushman (20 July 2007)

*Current market cap = 93,775,373 undiluted shares @ 16c = approx 150m. *

Sorry all - that mkt cap should obviously be $15m!!  Must be a Friday or something....


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## moneymajix (20 July 2007)

Bush

Low market cap. 

Lots going for the stock.

Not much followed stock atm. 

Currently 15c.


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## countryboy (20 July 2007)

its always good to compare companies on a range of criteria to make sure you are getting value for your $$. IRM are about the same place in exporation and at last look were several cents higher in price, For my money (not that I've taken the plunge yet!) PSP have what appears better ground. (but who knows what is underneath!)past these two companies you move into  companies in JVs and a diluted royalty from their projects. The market rarely rates these holdings highly eg Cullen. I'm still looking to park some $ for 6-9 mths...maybe lead producers are worth alook !


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## moneymajix (23 July 2007)

16c

Up over 10% today.


Very few sellers. Buyer interest.


Looking good. Nice overdue, I think?


Excitement building. Any thoughts, out there?


LOL to all holders.


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## moneymajix (23 July 2007)

Chomping through 17c.Up over 17% today.

Not much interest on this forum, it seems.

If there is any good news, watch it zoom up imo. Few sellers.

Iron Ore.


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## Bushman (23 July 2007)

moneymajix said:


> Chomping through 17c.Up over 17% today.
> 
> Not much interest on this forum, it seems.
> 
> ...






moneymajix said:


> Chomping through 17c.Up over 17% today.
> 
> Not much interest on this forum, it seems.
> 
> ...




What do you think is happening here MM? 17% on no news. Is it the market waking up to the potential? Instos buying into a good news story post capital raising? 

Advantages:
- Woolshed good ground (next door to Mt Gibson & Gindalbie Karara deposit);
- Money in the bank with instos funding company $2m in 4th qrt;
- Some good buying action going on. Someone is waking up to this one. 
- 60% holding in potential 50 to 60 MT iron ore deposit with top assay result 59% Fe. 
- low market cap ($15.8m on today's prices) so room to move. 
- additional projects iron ore and gold.


Disadvantage:
- 50 to 60 mt is not based on any confirmed drill results. Rather it is inferred from rock chip samples. 
- Low profile

Unkown - mgt. Anyone know anything about Directors? 

Agree with MM - it will run if anything is firmed up. Not sure if it is wise to buy in on a spike with this one though. Very low trading volume so it runs hard when there is some action. *Pick your entry point and make sure you are comfortable with the fact that no drill results have yet been released on Woolshed. * High risk, potential high reward iron ore play.


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## moneymajix (23 July 2007)

Hi Bush

If I were to guess, there may be some good news coming and the cat might be out of the bag. I think there is some results expected which are overdue. Please correct me if I am wrong.

If there is good news, this should move up quickly. Not much in the way of sellers.

Close of 18c  - up over 24%.

Very nice for holders and great to watch today.

LOL.


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## countryboy (25 July 2007)

Finally took the plunge and jumped in around 16c, The 50-60 million t DSO from Woolshed talked me into it! The PSP website is up for  an upgrade with the page being 1/2 the size of an A4 sheet.(compared to FWL) I do believe they could create some interest if they were to concentrate on one project and given U and iron ores upside at the moment....but hey what do I know. I have been a share holder for less than 24 hrs !


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## Bushman (25 July 2007)

countryboy said:


> Finally took the plunge and jumped in around 16c, The 50-60 million t DSO from Woolshed talked me into it! The PSP website is up for  an upgrade with the page being 1/2 the size of an A4 sheet.(compared to FWL) I do believe they could create some interest if they were to concentrate on one project and given U and iron ores upside at the moment....but hey what do I know. I have been a share holder for less than 24 hrs !




Yep took the plunge yesterday. It was haunting me that 50 to 60 MT @ 59% Fe in the Mt Gibson hot zone. Damn speccies...


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## moneymajix (26 July 2007)

Hi guys

Good luck to you. I am a holder and think we will all be rewarded in due course.

Will I get in trouble if I say this is going over 50C?

Currently 16c.


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## j4mesa (26 July 2007)

moneymajix said:


> Hi guys
> 
> Good luck to you. I am a holder and think we will all be rewarded in due course.
> 
> ...




Hi moneymajix,

I am interested to find out why you mentioned "we will all be rewarded in due course", is there anything coming inthe line ?


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## moneymajix (26 July 2007)

J4

I don't know anymore than I read in the anns. etc.

I am confident of this stock so I believe holders will be rewarded in due course.

Small market cap and potential to be an iron ore producer.

LOL.


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## j4mesa (26 July 2007)

Well , good luck to you.....

I am just watching from the sidelines....at this moment because this share does not have a high liquidity according to me


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## countryboy (26 July 2007)

i watched from the side for a month,,,my main concern which i have said in previous posts was the spread of metals they were chasing. This is still a concern. The lack of liquidity i do note but i'm hoping that is from a tightly held share registry. FWL does not have many shares  for sale the result is an inflated share price. Hope this happens to PSP


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## Bushman (26 July 2007)

countryboy said:


> i watched from the side for a month,,,my main concern which i have said in previous posts was the spread of metals they were chasing. This is still a concern. The lack of liquidity i do note but i'm hoping that is from a tightly held share registry. FWL does not have many shares  for sale the result is an inflated share price. Hope this happens to PSP




Hey CB & MM;

Just had a look at the top 20 and they hold 63% of the issued capital. 

Investors of note include:
1. Prufrock Partners - a Bahamas based hedge fund. Own 15%.
2. Thorney Investments ie Dick Pratt's investment vehicle. Own 5%. 
3. Sinom - 3%. Iron ore traders who I think might be the owners of Mt Gibson Ext Hill magnetite ore project. They paid $52m to MXG for this in 2003. I am confirming some of this research on the ACS thread. I will update if anything further comes to light. 

Mo Munshi is the Chairman and he has worked with Ivanhoe Mines in the past. 

I agree with all the posters that the stock is very illiquid at the moment. So it could go anywhere. The next announcement should be crucial. From the Woolshed ann, the rock chip assays should be due anytime now.

As always, just my thoughts on this.


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## countryboy (27 July 2007)

survived today in reasonable shape.thanks for the info on the top 20. if the dow goes lower tonight i think i may be in the market on monday for quite a few stocks including PSP. 

also bought YML which has a near jorc of 30 million t i think at 62 c. 

 i would assume the 50-60 mill t DSO is hermanite(spelling!) and not magnetite ??


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## P.O.D (27 July 2007)

I really like this stock and have been researching it and l think there is plenty of upside. I think we have to look at the top 20 very closely as to why it is so illiquid and bushman has made a great point. 5% is held by Thorney Holdings these guys are absolute winners they would not get into anything that would not make them money. Yes Thorney is Dick Pratts (3rd richest in Australia and runs the largest private company in Australia) investment vehicle but it is run by his son-in-law and is a very successful businessman. To me if these guys are in especially at 5% of total stock holding this is one to watch if not hold. Look out for the upcoming announcements as l can smell success in the air. After looking at the fundamentals and now knowing the winners are holding this stock l will be getting in even if the stock jumps 10% on Monday.  ONE TO WATCH!!!!!!!


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## countryboy (1 August 2007)

some of these resource stocks are getting into bargain  basement areas.PSP down to 12c today...glad i didn't buy monday. So many choices ??? and so little cash !


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## moneymajix (2 August 2007)

Bushman

Belated thanks re top 20.

Good sign re Thorney Investments, imo.

Look what happened to IMI last month (and Pratt a shareholder of IMI).

If PSP can do as well, holders will be very happy.

Current price 13c. Got to 12c yesterday!


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## Bushman (2 August 2007)

moneymajix said:


> Bushman
> 
> Belated thanks re top 20.
> 
> ...




12c on no volume. Some just want to sell at the moment no matter the share or cost. How else do you explain every share being in the red on the ASX 200 yesterday irrespective of the underlying company and its fundamentals. That was quite something to behold. 

Cannot see this one moving without an announcement in these nervy times.   

Qrt report looked good. Thorney in the the top 20. Still sticking to my longer term horizons. If the Dow keeps tanking and the panic keeps spreading, who knows what the next few weeks will bring for this share? It has such low volume that panic hits it hard just as good news will get it running. Gritting the teeth and holding. Not much choice at the moment.


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## P.O.D (11 August 2007)

Does anyone know about the 3m shares that were traded yesterday on this one? The trade occurred before the market opened.


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## countryboy (27 August 2007)

jump of 37% at one stage today...sounds great but the total volume was only 12,000 shares at this point.Still we finished the day 25% higher. Hope the market can stay steady for stocks like PSP to catch up.


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## moneymajix (30 August 2007)

POD

Re Does anyone know about the 3m shares that were traded yesterday on this one? The trade occurred before the market opened.


No replies!


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## moneymajix (10 October 2007)

Iron Ore Majix

Up over 20% to 10.5c


Chart might be nice


Is this the next small cap. iron ore co. that is going to see some substantial rises?


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## moneymajix (10 October 2007)

Current sp - 9.5c

Expect some results in 2 weeks from Tennant Creek re Electromagnetic survey.


See Ann. in September
Surveys Commence on Priority Targets
At Tennant Creek Goldfield, North Territory


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## greggy (10 October 2007)

moneymajix said:


> Current sp - 9.5c
> 
> Expect some results in 2 weeks from Tennant Creek re Electromagnetic survey.
> 
> ...



Besides their NT prospects, PSP also has some interesting iron ore projects. PSP is also cashed up following a recent placement. This stock is on my watch list. 
DYOR


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## moneymajix (11 October 2007)

You watching, Greggy?

This has moved from around 8-9c yesterday.


12c now, Up another 20% today.

Hit 13c at one stage.


Someone fascinated with charts may like to post one. 

May show a change for the better.


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## countryboy (11 October 2007)

movement today again..I'll take apunt and say ots Iron Ore related 
more info on :

Prosperity Resources Limited (ASX: PSP) and Mawson West (ASX:MWE) are pleased to announce results following a recent detailed mapping programme on the Woolshed Prospect as recommended by Hematite Consultants.

*Present indications show a potential exploration target size of approximately 50-60MT of prospective DSO.*

 Prosperity Resources Ltd’s Managing Director, Mr Ric Dawson said “This detailed mapping programme, which is testing an area with a strike length of 4 kilometres, will now progress to
drilling to test from iron enrichment at depth.” Follow up iron analysis results from the mapping programme should be released in about two weeks and in the coming quarter RC drilling will commence after sourcing a suitable drill rig.
Mr Dawson said, “With close proximity to Gindalbie Metals Ltd’s Karara Iron Ore deposits, Mt Gibson Iron’s Extension Hill deposits and the existing road infrastructure, the prospectivity for this area is significant.”


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## greggy (11 October 2007)

moneymajix said:


> You watching, Greggy?
> 
> This has moved from around 8-9c yesterday.
> 
> ...




Yes, I certainly am Moneymajix.  Punters out there are looking for the next iron ore stock to move.  PSP also offers potential (mainly on the gold front) at their recently acquired NT leases.  Throw in the fact that its once again cashed up and you have a stock that has been overlooked by the market. 
DYOR


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## moneymajix (14 October 2007)

From a poster on one of our sister forums on 11 Oct;


_... 
As far as Mt Gibson access to RC drill capable of drilling iron ore 
projects are very scare at the moment but the company is endeavoring 
to source ones continuously to start drilling

In November additional magnetic surveys at Wooshed and Mummaloo will 
be flown and results will be reported shortly after that has occurred _


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## alankew (6 November 2007)

Just clicked on my holdings/watchlist and thsi has gone up 20% in a matter of minutes,anyone know whats going on.Just a quick update and apologies for getting over excited,another 100K or so gone throught and there is one solitary bid at the top for 500KEdit make that 2 bids totalling 700K and only 700K on the sell side-admitedly at much higher price though


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## countryboy (6 November 2007)

big day on volume for PSP.I'm used to seeing no trades before lunchtime and volumes below 100 K. Sell side always looks thin so todays action is interesting.maybe the results of the fly past ?


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## moneymajix (7 November 2007)

*The money's on resources*

A CREDIT crunch is under way around the world for anything that smells of property, but it seems the wallets are still open for resources plays. 

Prosperity Resources has completed a $3.8 million placement to one British and two US institutions. The money is being used to pay for a tenement package in the Tennant Creek goldfield, where the company will be looking for copper-gold. 



From Bromby in the Australian on 5 November.

Might explain recent interest.

12.5c.


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## moneymajix (20 December 2007)

Media Release/ASX Release
17 December 2007

*Surveys Commence on Priority Targets
At Mt Gibson Iron Ore and Warriedar Prospects,
Western Australia and Secures RC Drill Rig*

Prosperity Resources Limited (ASX: PSP) is pleased to announce on behalf of the
Payne’s Find Joint Venture with Mawson West Ltd (ASX: MWE) that it has
commenced a close spaced 50 metre aeromagnetic and radiometric survey over 3
priority magnetic anomalies in the Mid West of Western Australia.
The Woolshed Prospect is partially exposed with large areas of banded iron formation
(‘BIF’) outcrop but large sections are overlain with an unknown thickness of alluvial
cover and this new survey will provide greater confidence in selection of suitable
drilling sites for the upcoming RC drill programme.

The Warriedar and Payne’s Find Prospects are also being flown with close spaced
aeromagnetics to further define the major geological structures in the areas which are
thought to be prospective for both gold and iron resources.
With previously released rock chip samples of enriched BIF grading in excess of 55%
iron at both the Woolshed and Warriedar Prospects, the Company is now seeking to
determine the third dimension by drilling these prospects.
It has been to the Company’s frustration in obtaining the services of a suitable RC drill
rig with the required depth ability and penetration into these BIF’s over the past
quarters due to the current high drill rig utilisation of the RC drilling rig contractors.
The Company is delighted that it has now secured the services of Colby Drilling
Company to provide RC drilling early in the next quarter to drill these priority targets.


8.7c!


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## wipz (9 January 2008)

Any ideas on the following announcement today from MWE will have on PSP SP if they hit some decent ore?

*Woolshed JV – (PSP earning 60%)*

Prosperity will drill two iron ore exploration targets during the current quarter; a 50-60Mt target at the Woolshed prospect and a 96-120Mt target at the Warriedar prospect. 

*Woolshed Prospect* 
This prospect was assessed by Hematite Consultants and a detailed surface mapping and sampling programme completed. The core exploration target defined by the assessment and subsequent mapping and sampling has been identified with dimensions approximately 2500m by 500m and then open under cover to the south west. The thickness of the enriched portion of the banded iron formation (BIF) cannot be proven by surface mapping alone, but is estimated to be 30-50m. 

Based on an inferred enriched width of 50m, an assumed depth to 150 metres and an 3 assumed bulk density of 3t/m , an exploration target of between 50 and 60 million tonnes of iron ore material is to be drill tested.  

Further detailed mapping is planned to assess a south west extension to the zone. The surface exposure of the iron formation has been mapped over a strike length of 800m; aeromagnetic interpretation infers a total strike of 2.5 km.

*Warriedar Prospect* 
Rock chip sampling and reconnaissance mapping of this prospect has defined an exploration target in the order of 8000m by 500m in size. Based on an inferred enriched width of 40-50m, to an arbitrary depth of 100 metres and an assumed specific gravity of 3, gives an interim exploration target of 96-120 million tonnes of iron ore material.


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## moneymajix (29 January 2008)

Hi wipz     


*RE: DRILLING TO COMMENCE AT WOOLSHED IRON ORE PROSPECT, MT. GIBSON / YALGOO OPTION AGREEMENT LAPSES*

http://www.asx.com.au/asxpdf/20080125/pdf/31735784z81rmn.pdf



Last year this stock ran to around 18c.

Do you think it can do better than that?

Share price currently 10c. Low market cap.

Some might find the iron ore potential tempting.

Some interesting shareholders.


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## alankew (7 February 2008)

Can anyone shed any light on the course of trades in this today,no trades then 3 come along at once(just like buses or coppers when you are up to no good)
Time Price Volume Value Condition 
03:37:09 PM 0.105 5,000 525.00   
03:37:09 PM 0.100 70,000 7,000.00   
03:37:09 PM 0.095 15,000 1,425.00   
Seems a little odd to me,maybe a conspiracy or something more innocent


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## alankew (8 February 2008)

At the risk of getting shot down,I will ask the question again as similair trading today Can anyone shed any light on the course of trades in this today,no trades then several  come along at once(just like buses or coppers when you are up to no good).Todays trades
 02:44:00 PM 0.110 95,085 10,459.35   
02:44:00 PM 0.110 5,915 650.65   
02:32:46 PM 0.110 19,800 2,178.00   
02:32:46 PM 0.110 35,200 3,872.00   
12:07:25 PM 0.110 90,000 9,900.00 x 
11:58:15 AM 0.100 99,000 9,900.00   
11:55:24 AM 0.110 60,000 6,600.00   
11:37:21 AM 0.110 95,000 10,450.00   
10:46:04 AM 0.110 5,000 550.00   

Seems a little odd to me,maybe a conspiracy or something more innocent


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## alankew (8 February 2008)

Maybe my conspiracy theory was correct,seems like something is up(shares up 9% atm) and is holding above the dreaded 10c barrier,few largish trades sitting in queue atm(all relative i suppose)but number of buyers has ceratinly increased


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## countryboy (8 February 2008)

It is a wee bit strange given a lot of specs have been trading on a dribble like volume over the last month Can it hold 12 c? I doubt it as past history shows a few small 10% gains and the a dive below 10c.Hope I'm wrong and the iron ore story is about to unfold.


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## alankew (11 February 2008)

Got one right at last,ann out,heres the link and a few snippets taken from ann


Due to the high level of interest in the Company’s iron ore prospects and with our proximity
to Mt Gibson Iron’s Extension Hill Deposit and the nearby Gindalbie Metal’s Karara Deposit
(Figure 1), the Company . The is in discussions with potential new strategic investors from the
Chinese steel industryCompany’s Chairman, Mr Mo Munshi, who is based in Beijing,
has had several meetings with these investors and the Company will provide greater details as
negotiations are finalised
this bit is old news but would explain the current interest
exploration target potential of the Woolshed
Prospect of up to 300 million tonnes of iron material


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## alankew (20 February 2008)

Similair trades to when i posted a few posts back,all timed at the same time and same price-one of the trades was a buy of 400k.


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## moneymajix (5 March 2008)

Holding up very well (especially in this market). 

16c.

Thought it might pull back as it has on a number of occassions in the past.


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## moneymajix (5 May 2008)

*ANNOUNCEMENT*

*Shougang Agrees to Invest up to 19.9%*

The Board of Prosperity Resources Limited (ASX: PSP) wishes to advise that it has reached
agreement with Shougang Holding (Hong Kong) Limited (“Shougang”) to a placement of
Chairman, Mr Mo Munshi said "We are delighted to have attracted Shougang to be a strategic
partner, one of the largest of several Chinese steel mills seeking to make a significant

Proposed Transaction

It is proposed that subject to certain conditions precedent, the transaction would involve:
• Shougang participating in the issue and placement of 30,000,000 Shares at an issue
price of 15 cents each to raise $A4.5m (“Placement Shares”); and
• Prosperity Resources granting to Shougang up to a maximum of 30,000,000 Options
at an *exercise price of 30 cents each *and exercisable on or before 30 September 2008
(“Placement Options”). 



Positive announcement - 18c, up 12.5% (high 18.5c)


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## alankew (5 May 2008)

Have been told that there is the possibility of PSP having phosphates on one of their tenements in the NT.Picked up by Seuss at Shares.com(sorry Joe,but thats my source)Check on the NT minerals website to confirm-low grades but who knows


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## happytown (24 August 2009)

increased volume in prosperity today, ann out re trenching results and drilling campaign to begin at aceh, indonesia, Au-Cu project

*trenching* results (to a depth of approx 1.5m) incl



> ...
> 
> 8m @ 5.39 g/t gold and 0.26% copper
> 18m @ 4.01 g/t gold and 0.63% copper
> ...



sp has increased significantly over past month

cheers 

another quality post brought to you by happytown inc


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## Peanut (24 August 2009)

happytown said:


> increased volume in prosperity today, ann out re trenching results and drilling campaign to begin at aceh, indonesia, Au-Cu project
> 
> *trenching* results (to a depth of approx 1.5m) incl
> 
> ...




PSP finished the day at 12.5 from prev close of 10c.  Surprised wasn't more of a jump in SP - drilling results would appear to be outstanding, in particular 91 m intersection @ avg 3g/t?  

Interested to hear others thoughts


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## Peanut (24 August 2009)

my mistake srry, just realised that the results announced today were trenching results not drilling results (as highlighted in Happytown's post for muppets like me!)


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## jonojpsg (25 August 2009)

FAR OUT!  Trenching results of 91m @ 3.65g/t are unbelievable are they not??  Given that amount of gold and copper at surface, there must be an absolute truckload of resource there!  Will be VERY interesting to watch this over the next few months.


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## moneymajix (12 September 2009)

Share price has made a real comeback to 16c.

Yep, I think could be interesting re results of the current drilling program at Pala Prospect -gold and copper project.





.


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