SHO - SportsHero Limited

Nevada Iron Ltd (NVI) was formerly known as Richmond Mining Limited (RHM).

Previous discussion of this company can be found in the RHM thread: https://www.aussiestockforums.com/forums/showthread.php?t=17666

Current SP - 17c
Shares - 91m
Options - 15.35m (varies expiries and strike prices)
Cash - $2m
MC -$15.3m

NEVADA IRON ANNOUNCES OUTSTANDING DRILL RESULTS INCLUDING 10.7 M GRADING 53.0% TOTAL FE
Emerging iron ore developer, Nevada Iron Ltd is pleased to announce the first drill results from its recent drill program at the Buena Vista Iron Project in Nevada, USA.
• 36.6 m grading 31.3% total Fe from 24.4 m including 10.7m grading 53.0% total Fe
• 70.1 m grading 30.1% total Fe from 117 m
Drilling at the Section 5 deposit has encountered magnetite mineralisation over a strike length of up to 450 m, maximum widths of 250 m and to depths of 200 m where several holes terminated in mineralisation.

The Section 5 deposit is open across strike and at depth, and further drilling will be required to establish the full extent of the deposit. The Exploration Target (conceptual) for the Section 5 deposit is 12-18 Mt grading 18-26% total Fe.
The project’s currently identified JORC Exploration Targets (conceptual) provide for an additional 195 Mt to 268 Mt of exploration potentia. Significant potential, therefore, exists to expand the scale of the project through additional exploration of, in particular, higher grade magnetite mineralisation at these prospects


Narracoota (100% Nevada Iron – Latin Gold Limited earning 90%)
The Narracoota project is located approximately 80 kilometres north of Meekatharra, Western Australia.
The project covers part of the southern section of the Palaeoproterozic Bryah Basin (a subbasin of the Glengarry Basin) and has been explored for epigenetic gold and VHMS-style base and precious metals by previous explorers.
The project area lies some 75 kilometres southwest of the DeGrussa discovery which is hosted by rock units of the Narracoota Volcanics. The Narracoota project contains extensive widths of Narracoota Volcanics, which are interpreted to occur in at least three structural repetitions that provide a cumulative target zone of approximately 20 kilometres in length.

Loongana (Nevada Iron 100%)
The Loongana project is located on the Nullarbor Plain within Western Australia and covers over 40 kilometres of a buried mafic and ultramafic intrusive. The intrusive had been interpreted from geophysical surveys and two historic drill holes, and six drill holes completed to date by Nevada Iron have confirmed the geology.
A reverse circulation drilling programme to test three magnetic and gravity co-incident anomalies within the tail and neck section of the ultramafic intrusive is planned for the June quarter of 2012. Three vertical holes are planned with an average depth of around 400 metres.
Nevada Iron was successful in receiving funding of $122,500 from the Royalties for Regions programme for this proposed drill programme.

HIGH GRADE RESULTS FROM DRILLING OF SECTION 5 MAGNETIC ANOMALY

Nevada Iron announce drilling has intersected thick intervals of magnetite mineralisation at the Section 5 magnetic anomaly of the Buena Vista Iron Project, Nevada, USA.
Highlights include:
• 175.3 m @ 25.1% total Fe from 27.4 m including 35.1 m @ 38.1% total Fe from 114.3 m (Hole 3C);
• 175.3 m @ 24.4% total Fe from 30.5 m including 26.0 m @ 31.8% total Fe from 96.0 m (Hole 3B).
Drilling at the Section 5 magnetic anomaly has encountered thick magnetite mineralisation in an oval shaped area of some 600 metres east-west by 50 to 400 metres north-south and to depths of 200 metres, where several holes terminated in strong mineralisation.

On January 27th, 2017, Nevada Iron Limited (NVI) changed its name and ASX code to Sportshero Limited (SHO).

SHO up today on high volume and no news. Anyone know what's up?

SportsHero has experienced four bullish days in a row after announcing that the initial launch of its World Cup Campaign in Indonesian demonstrated proof of concept and delivered very encouraging early revenue flows. In the first two weeks of the World Cup, SportsHero's fully localised Indonesian user experience generated gross revenue of A$50,180, which translates into a gross profit of A$42,653 for SportsHero.

A nice turnaround for SHO after having fallen from 21.5c to 7.3c in under four months. It finished today at 12c, up 20% on yesterday's close of 10c. On each of the last four trading days, SportsHero has finished on its high of the day, a very bullish sign. Volume, however, was moderate at best.

Quick squiz at this ….

Top 20% of shareholders own 70% Company so tight register which may explain low volume spikes

Looks like they only have about $800K left in the coffers so about 2 Quarters of operating funds

Chinese Tech Fund IPV Capital is involved so I assume future cash is available

They expect revenues to rise this month to $100K If they can duplicate/increase that in the short term maybe no need for future Cap Raises …. positive …… $20 million market cap …..

Ian Chappell is involved with the business in some capacity so its definitely a buy

barney said:

Quick squiz at this ….

Click to expand...

Thanks for your thoughts barney. It's continued to move up today but it looks like it might be running out of puff so we may see it fall back a little towards the end of the day as profit takers jump in.