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PRW - Proto Resources & Investments
- Thread starter Captain_Chaza
- Start date
Attention to PRW seems to have been neglected with the announcement this week of the Nickel Laterite Drilling Commencement at Menzies with JV partner POS.
POS seems to have had a very good run yesterday with the news and it was not reflected in PRW.
Today the buying has come in and PRW is starting to look very cheap. This stock reached 85c end of last year and has been sold off due to market conditions and not fundamentals.
I feel this stock will work its way back up to 50c as results from drilling get closer. And if results are good then it may test its old highs.
I also hear a roadshow in Australia and London will commence over the next 3 weeks. Companies usually time roadshows ahead of exciting news thats not too far away.
Goodluck to holders.
========================================================
This post from the past just to refresh you..............
If you consider that Proto should be able to produce nickel metal in concentrate for 8000 US a tonne and sell it for 30,000 US a tonne on 4000 tonnes of production in the first year starting mid 09, even if you discount that back the story is very exciting for the current market cap and lack of need for any significant fund raising in the short to mid term.
However, if you then consider that at the end of the second year of production PRW will be doubling that production and then redoubling at the end of the third year, then the profits for Proto who would take half of the margin above 8000 US a tonne really do become very substantial and justify a much larger market cap.
If you then consider that PRW are considering other nickel cobalt projects to do the same thing almost concurrently with Barnes Hill, then we do justify the label of monster nickel producer.
I feel this is the best strategy for Proto and all of us the investors who deserve the largest degree of growth possible.
Also the Menzies acquisition on top of Barnes Hill acquisition and financing show the company's ability to achieve and build swiftly and effectively.
Seeing what people like Andrew Forrest have done at Fortescue is a real inspiration and example, which I think all of corporate Australia should take seriously and of course Fortescue's iron ore production will mean more nickel is needed in the future
Stocks like PRW that are not on traders favourites lists keep chugging along without any notice. The management at Proto are well respected in the industry with Andrew Mortimer at the helm.
These assets in Menzies and Barnes Hill are world class and having a JV partner like POSEIDON at Menzies shows us how the mining industry will have a major phase of consolidation over the next 5 years to help transform proved up resources to the production stage.
Its all about having the funding to get these mines up and running.
PRW IMO will be over $1 within 2 years.
Have a look at this link which is a very well informed outlook on PRW's potential.
www.metalsonline.tv
POS seems to have had a very good run yesterday with the news and it was not reflected in PRW.
Today the buying has come in and PRW is starting to look very cheap. This stock reached 85c end of last year and has been sold off due to market conditions and not fundamentals.
I feel this stock will work its way back up to 50c as results from drilling get closer. And if results are good then it may test its old highs.
I also hear a roadshow in Australia and London will commence over the next 3 weeks. Companies usually time roadshows ahead of exciting news thats not too far away.
Goodluck to holders.
========================================================
This post from the past just to refresh you..............
If you consider that Proto should be able to produce nickel metal in concentrate for 8000 US a tonne and sell it for 30,000 US a tonne on 4000 tonnes of production in the first year starting mid 09, even if you discount that back the story is very exciting for the current market cap and lack of need for any significant fund raising in the short to mid term.
However, if you then consider that at the end of the second year of production PRW will be doubling that production and then redoubling at the end of the third year, then the profits for Proto who would take half of the margin above 8000 US a tonne really do become very substantial and justify a much larger market cap.
If you then consider that PRW are considering other nickel cobalt projects to do the same thing almost concurrently with Barnes Hill, then we do justify the label of monster nickel producer.
I feel this is the best strategy for Proto and all of us the investors who deserve the largest degree of growth possible.
Also the Menzies acquisition on top of Barnes Hill acquisition and financing show the company's ability to achieve and build swiftly and effectively.
Seeing what people like Andrew Forrest have done at Fortescue is a real inspiration and example, which I think all of corporate Australia should take seriously and of course Fortescue's iron ore production will mean more nickel is needed in the future
Stocks like PRW that are not on traders favourites lists keep chugging along without any notice. The management at Proto are well respected in the industry with Andrew Mortimer at the helm.
These assets in Menzies and Barnes Hill are world class and having a JV partner like POSEIDON at Menzies shows us how the mining industry will have a major phase of consolidation over the next 5 years to help transform proved up resources to the production stage.
Its all about having the funding to get these mines up and running.
PRW IMO will be over $1 within 2 years.
Have a look at this link which is a very well informed outlook on PRW's potential.
www.metalsonline.tv
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PRW - Proto Resources
Had a brief look into this one - at near historical lows and looks to be on the verge of a price resurgence.
Per Google Finance:
Proto Resources & Investments Ltd is an Australian company engaged in the exploration of precious and base metals. On March 15, 2007, Proto Resources & Investments Ltd completed the acquisition of the Barnes Hill nickel project in Tasmani. Barnes Hill has become the priority focus of the Company. It has been granted three exploration licenses (EL), EL6286, EL6663 and EL6718, covering approximately 175 kilometers at the Tibooburra Gold Project. The Company has been granted EL23391, EL23392, EL23393, EL23395, EL23629, EL24357 at its Arunta Project. The Arunta project covers over 5,000 kilometers of land. Its Mt Vetters Project is located 30 kilometers north east of Kalgoorlie in the Yilgarn of Western Australia. The Mt Vetters project is owned 75% by Proto Resources & Investments Ltd and 25% by Cazaly Resources Ltd.
Looks to be a small time Nickel play - could well be worth a fair amount more than it's current SP of $0.20 suggests.
Keep it on the radar folks.
Had a brief look into this one - at near historical lows and looks to be on the verge of a price resurgence.
Per Google Finance:
Proto Resources & Investments Ltd is an Australian company engaged in the exploration of precious and base metals. On March 15, 2007, Proto Resources & Investments Ltd completed the acquisition of the Barnes Hill nickel project in Tasmani. Barnes Hill has become the priority focus of the Company. It has been granted three exploration licenses (EL), EL6286, EL6663 and EL6718, covering approximately 175 kilometers at the Tibooburra Gold Project. The Company has been granted EL23391, EL23392, EL23393, EL23395, EL23629, EL24357 at its Arunta Project. The Arunta project covers over 5,000 kilometers of land. Its Mt Vetters Project is located 30 kilometers north east of Kalgoorlie in the Yilgarn of Western Australia. The Mt Vetters project is owned 75% by Proto Resources & Investments Ltd and 25% by Cazaly Resources Ltd.
Looks to be a small time Nickel play - could well be worth a fair amount more than it's current SP of $0.20 suggests.
Keep it on the radar folks.
Re: PRW - Proto Resources
Been watching this one for a while and very recently bought in at 3.2 cents. Looks to be sliding under the radar at the moment and the latest ann could see this one run in the near future once results are released.
I've posted the ann below if anyone is interested.
Cheers TCB
May 28, 2009
Drilling to Commence at Lindeman’s Bore Project, NT Joint Venture Announced
ASX Release Stock Code: PRW
Proto announces new joint venture at Lindeman’s Bore as well as commencement of 6-800m diamond drill hole to test Norilsk-style geology
Executive Summary
• Drilling at Lindeman’s Bore to begin Friday, 28 May 2009, with all approvals now received
• Joint Venture agreement announced with Northwest Discovery Ltd, with NT government already funding $100,000 of program
• The program is targeting Norilsk-style massive nickel sulphide and platinum group element
mineralisation, with single deep hole 6-800m diamond drill hole planned initially to test “bulls eye” target
Drilling Program Commences
The directors and management of Proto Resources & Investments Ltd are pleased to announce that the Lindeman’s Bore project has now successfully gained authorisation to commence drilling from the Department of Regional Development, Primary Industry, Fisheries and Resources, as well as receiving all other approvals. With this authorisation Proto’s exploration team are today mobilising from Darwin to commence drilling tomorrow, Friday 29 May 2009.
The Lindeman's Bore Project, on granted exploration licence EL 25307, is located 380km southwest of Katherine, situated on Limbunya Station near the community of Kalkarindji. The project area is interpreted to contain a portion of the regionally extensive Antrim Plateau Volcanics (APV). This Continental Flood Basalt Province is considered prospective for "Norilsk-style" magmatic nickel-copper2 PGE mineralisation. Norilsk is the largest nickel company in the world having the world class Norilsk mineralisation in North West Siberia with the world’s largest reserves of nickel sulphide and platinum.
Initially a single deep 6-800m diamond drill hole is planned to test a coincident magnetic/gravity "bulls eye" target for which the Northern Territory Government will fund $100,000. The experienced drilling company Wild Drilling from the Northern Territory won the tender to drill potentially one of the most exciting greenfields exploration targets in recent years. The drilling company and the Proto exploration team will be staying close to site at Limbunya Station.
Mithril Resources Limited (ASX:MTH) was another company awarded funding under the Geophysics and Drilling Collaborations Funding Agreement by the NT government, with a project north east of Alice Springs. Mithril are targeting similar Norilsk style mineralisation to Proto. Mithril have rock chip samples at surface running up to 9.6% copper and 3.8% nickel with platinum group elements at their Blackadder and Baldrick prospect. Mithril will be diamond drilling this target during 2009. (Ref: Mithril ASX announcement dated 15 December 2008).
Chairman and Managing Director of Proto Andrew Mortimer said today, “We are very excited to finally be drilling this outstanding exploration project, which has the potential to show an enormous nickel, copper, platinum mineralisation. If successful, this project will transform Proto into a company with a substantial polymetallic mineralisation that would have the potential to provide very impressive long term economic upside.”
Joint Venture Agreement Announced
Proto is also pleased to announce that a Sydney based unlisted public company Northwest Discovery Ltd (NWD) has agreed to a Farm-in on the Lindeman’s Bore Project.
Proto has given Northwest Discovery Ltd the right to earn up to 50% of the project by funding drilling and exploration costs for a total of $1 million, beginning with a 20% earn-in by funding the initial drilling which begins tomorrow. The initial funding will cost NWD $150,000. NWD will also have the opportunity to earn equity in the surrounding EL 25307 (presently 80% Proto and 20% private geoscientists). NWD can earn an additional 30% equity in the project by spending an additional $850,000 if the initial drilling proves successful, at that time NWD will hold 50%, Proto 30% and private interests 20%. The last third of this 30% equity however can only be earned at Proto’s and NWD’s mutual election.
Been watching this one for a while and very recently bought in at 3.2 cents. Looks to be sliding under the radar at the moment and the latest ann could see this one run in the near future once results are released.
I've posted the ann below if anyone is interested.Cheers TCB
May 28, 2009
Drilling to Commence at Lindeman’s Bore Project, NT Joint Venture Announced
ASX Release Stock Code: PRW
Proto announces new joint venture at Lindeman’s Bore as well as commencement of 6-800m diamond drill hole to test Norilsk-style geology
Executive Summary
• Drilling at Lindeman’s Bore to begin Friday, 28 May 2009, with all approvals now received
• Joint Venture agreement announced with Northwest Discovery Ltd, with NT government already funding $100,000 of program
• The program is targeting Norilsk-style massive nickel sulphide and platinum group element
mineralisation, with single deep hole 6-800m diamond drill hole planned initially to test “bulls eye” target
Drilling Program Commences
The directors and management of Proto Resources & Investments Ltd are pleased to announce that the Lindeman’s Bore project has now successfully gained authorisation to commence drilling from the Department of Regional Development, Primary Industry, Fisheries and Resources, as well as receiving all other approvals. With this authorisation Proto’s exploration team are today mobilising from Darwin to commence drilling tomorrow, Friday 29 May 2009.
The Lindeman's Bore Project, on granted exploration licence EL 25307, is located 380km southwest of Katherine, situated on Limbunya Station near the community of Kalkarindji. The project area is interpreted to contain a portion of the regionally extensive Antrim Plateau Volcanics (APV). This Continental Flood Basalt Province is considered prospective for "Norilsk-style" magmatic nickel-copper2 PGE mineralisation. Norilsk is the largest nickel company in the world having the world class Norilsk mineralisation in North West Siberia with the world’s largest reserves of nickel sulphide and platinum.
Initially a single deep 6-800m diamond drill hole is planned to test a coincident magnetic/gravity "bulls eye" target for which the Northern Territory Government will fund $100,000. The experienced drilling company Wild Drilling from the Northern Territory won the tender to drill potentially one of the most exciting greenfields exploration targets in recent years. The drilling company and the Proto exploration team will be staying close to site at Limbunya Station.
Mithril Resources Limited (ASX:MTH) was another company awarded funding under the Geophysics and Drilling Collaborations Funding Agreement by the NT government, with a project north east of Alice Springs. Mithril are targeting similar Norilsk style mineralisation to Proto. Mithril have rock chip samples at surface running up to 9.6% copper and 3.8% nickel with platinum group elements at their Blackadder and Baldrick prospect. Mithril will be diamond drilling this target during 2009. (Ref: Mithril ASX announcement dated 15 December 2008).
Chairman and Managing Director of Proto Andrew Mortimer said today, “We are very excited to finally be drilling this outstanding exploration project, which has the potential to show an enormous nickel, copper, platinum mineralisation. If successful, this project will transform Proto into a company with a substantial polymetallic mineralisation that would have the potential to provide very impressive long term economic upside.”
Joint Venture Agreement Announced
Proto is also pleased to announce that a Sydney based unlisted public company Northwest Discovery Ltd (NWD) has agreed to a Farm-in on the Lindeman’s Bore Project.
Proto has given Northwest Discovery Ltd the right to earn up to 50% of the project by funding drilling and exploration costs for a total of $1 million, beginning with a 20% earn-in by funding the initial drilling which begins tomorrow. The initial funding will cost NWD $150,000. NWD will also have the opportunity to earn equity in the surrounding EL 25307 (presently 80% Proto and 20% private geoscientists). NWD can earn an additional 30% equity in the project by spending an additional $850,000 if the initial drilling proves successful, at that time NWD will hold 50%, Proto 30% and private interests 20%. The last third of this 30% equity however can only be earned at Proto’s and NWD’s mutual election.
Re: PRW - Proto Resources
some interest today up 8% sellers thining out. I liked the ann out yesterday and will wait patiently till drilling has been carried out (likely to take 3-4 weeks). Could be some exciting times ahead as this has the potential to discover some large mineral deposits all going to plan.
some interest today up 8% sellers thining out. I liked the ann out yesterday and will wait patiently till drilling has been carried out (likely to take 3-4 weeks). Could be some exciting times ahead as this has the potential to discover some large mineral deposits all going to plan.
Re: PRW - Proto Resources
Interesting to note that Mithril Resources Limited (ASX:MTH) was another company awarded funding under the Geophysics and Drilling Collaborations Funding Agreement by the NT government, with a project north east of Alice Springs. Mithril are targeting similar Norilsk style mineralisation to Proto. Mithril have rock chip samples at surface running up to 9.6% copper and 3.8%nickel with platinum group elements at their Blackadder and Baldrick prospect. Mithril will be diamond drilling this target during 2009. (Ref: Mithril ASX announcement dated 15 December 2008). MTH up yesterday, Hopefully PRW up tomorrow after an ann.
Interesting to note that Mithril Resources Limited (ASX:MTH) was another company awarded funding under the Geophysics and Drilling Collaborations Funding Agreement by the NT government, with a project north east of Alice Springs. Mithril are targeting similar Norilsk style mineralisation to Proto. Mithril have rock chip samples at surface running up to 9.6% copper and 3.8%nickel with platinum group elements at their Blackadder and Baldrick prospect. Mithril will be diamond drilling this target during 2009. (Ref: Mithril ASX announcement dated 15 December 2008). MTH up yesterday, Hopefully PRW up tomorrow after an ann.
Re: PRW - Proto Resources
Due to come out of its trading halt today. If not I am hoping that they had made a substantial find and need more time to digest what they have on their hands. Interesting all the same though. Is anyone else interested in PRW
Due to come out of its trading halt today. If not I am hoping that they had made a substantial find and need more time to digest what they have on their hands. Interesting all the same though. Is anyone else interested in PRW
Re: PRW - Proto Resources
Announcement just released.
Asking for a suspension to have more time to compile info on "discovery".
I established a small position a few days before the announcement based on what my technical indicators were telling me.
Had a choice of SAE or PRW. Watched SAE go up while PRW went down, only to be pleasantly surprised by the trading halt.
Fingers crossed. FWIW I'll be resisting the temptation to sell on the news as those same indicators tell me it will be climbing for a while yet, but I've been wrong before. So DYOR etc.
Announcement just released.
Asking for a suspension to have more time to compile info on "discovery".
I established a small position a few days before the announcement based on what my technical indicators were telling me.
Had a choice of SAE or PRW. Watched SAE go up while PRW went down, only to be pleasantly surprised by the trading halt.
Fingers crossed. FWIW I'll be resisting the temptation to sell on the news as those same indicators tell me it will be climbing for a while yet, but I've been wrong before
. So DYOR etc.Re: PRW - Proto Resources
Suspended from official quotation. PRW need more time to compile what they have discovered at Lindemans Bore. Expecting an announcement on Monday. As i said this could be huge. Have they hit massive sulphides? Potential to show an enormous nickel, copper, platinum mineralisation. This has the potential to be one of the most exciting discoveries in recent history. Anyway enough of me till next week
Suspended from official quotation. PRW need more time to compile what they have discovered at Lindemans Bore. Expecting an announcement on Monday. As i said this could be huge. Have they hit massive sulphides? Potential to show an enormous nickel, copper, platinum mineralisation. This has the potential to be one of the most exciting discoveries in recent history. Anyway enough of me till next week
Sean K
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Re: PRW - Proto Resources
Punters like it.
But, this isn't anything to really get excited about, imo. Hardly the potential to be the best discovery in some time.
15m of visible copper (maybe 5%) from 380m?
Check CDU for some decent grades and widths.
Results in August? WTF?
Wasn't this supposed to be a potential Ni deposit?
Punters like it.
But, this isn't anything to really get excited about, imo. Hardly the potential to be the best discovery in some time.
15m of visible copper (maybe 5%) from 380m?
Check CDU for some decent grades and widths.
Results in August? WTF?
Wasn't this supposed to be a potential Ni deposit?
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Re: PRW - Proto Resources
What a day.. closed quite high.. expect similar tomorrow in my opinion..
Alot of my money was made today by many people, well done everyone.
What a day.. closed quite high.. expect similar tomorrow in my opinion..
Alot of my money was made today by many people, well done everyone.
Re: PRW - Proto Resources
I agree with u doctorj..the copper is 384m below the surface. To put this into perspective, this is one recent drilling result for CDU at its rocklands project.
"Drill Hole LMRC 206 intersected 133m @ 4.81% Cu fm 0-133m
depth which includes 61m @ 9.19% Cu, 1.01 g/t Au fm 52 – 113m.
Within this hole there are also intersections of 131m @ 727 ppm Co
fm 0-131m and 123m @ 0.56 g/t Au fm 0-123m" (ASX announcement dated 12/01/09)
i hardly see 15m of 5% Cu 384m beneath the surface as interesting..
I agree with u doctorj..the copper is 384m below the surface. To put this into perspective, this is one recent drilling result for CDU at its rocklands project.
"Drill Hole LMRC 206 intersected 133m @ 4.81% Cu fm 0-133m
depth which includes 61m @ 9.19% Cu, 1.01 g/t Au fm 52 – 113m.
Within this hole there are also intersections of 131m @ 727 ppm Co
fm 0-131m and 123m @ 0.56 g/t Au fm 0-123m" (ASX announcement dated 12/01/09)
i hardly see 15m of 5% Cu 384m beneath the surface as interesting..
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Re: PRW - Proto Resources
Essentially your right.. and I sold today for that reason.
But I didn't sell at the afternoon highs.. I feel that traders will play around with this stock for the next 2 days or so, and we may see large volumes and decent rises..
At the end of the day though, the SP rise is probably not warranted.. just ramping. It might be a nice lot to daytrade in the next few days - that's all. It will fall back down to a realistic price soon, but I i doubt it will be tomorrow, or Wednesday.
As they say.. "buy on the rumour, sell on the news".. - this pretty much sums up my PRW trading activity today..
Good luck
Essentially your right.. and I sold today for that reason.
But I didn't sell at the afternoon highs.. I feel that traders will play around with this stock for the next 2 days or so, and we may see large volumes and decent rises..
At the end of the day though, the SP rise is probably not warranted.. just ramping. It might be a nice lot to daytrade in the next few days - that's all. It will fall back down to a realistic price soon, but I i doubt it will be tomorrow, or Wednesday.
As they say.. "buy on the rumour, sell on the news".. - this pretty much sums up my PRW trading activity today..
Good luck
