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Re: STB - South Boulder Mines

Interesting little gold and nickel speccie that announced some good gold grades today at its Thomson Bore prospect. Key drill results released included 11m @ 8.69 g/t and 1m @ 59 g/t. Drill results are from the 100% owned Duketon project near Laverton in WA. Ann states that an 'aggressive' drillling program will now be undertaken once a drilling rig is sourced.

Bit of digging in the company reveals the following:

Holdings:
- 100% Duketon project near Laverton in WA;
- 30% holding in Duketon Nickel JV with Independence Group. Previous drilling returned low grade nickel intercepts. Drilling continues.
- 35% holding in Thatcher Soak Uranium JV with Uranex.
- 10% holding in the La Forteza Gold project in Boliva with Republic Gold and and Canadian company.

Listed investments:
1.5m shares in Goldstream
4.5m shares and 1m options (@20c) in Montezuma Mining
250k shares and 750k options (@20c) in Buxton Resources
1m shares Gold Aura
121k shares in TSX listed Continental Nickel.

Shares on issue 44,122,943 @ 20 cps = mkt cap $8,824,587. Diluted (15,243,000 options) = $11,873,187.

Current market value listed investments is $1,850,600.

Cash at 30/9 is $1,344,000.

So mkt cap less cash/investments gives gold/farm-ins a rough value of approx $5.63m.

Summary:
-low mkt cap
- exposure to nickel, gold and uranium. Nickel and gold holdings are currently being drilled with some good gold grades and average nickel grades.
- Investments in suite of Aussie explorers including Goldstream (awaiting granting of SA magnetite mining lease) and Montezuma.
- Chairman (Brian Rear) is a miner with 35 yrs experience. Ex Straits Resources.

Price up 30% today on gold drilling results. Likely to pull back tomorrow as there is quite a gap between the buyers and sellers. On to the WA watch list with SEG. No spare funds or I would take a punt. Seems like a forgotten story with good potential and underpinned by some interesting investments to me. Note cannot value the holdings at the moment as JORC has not been delineated. CY08 looks like it will be a pivotal year for STB.
 
Re: STB - South Boulder Mines

Do these guys have any management connection to Goldstream (GDM)?

As GDM own half of Continental nickel and 32% of Uranex. Their sp is also fundamentally undervalued.

Seems to be a lot of similarities. Multi commodity exposure, diverse investment portfolio and decent management.

Hence why im wondering if there is a board connection?
 
Re: STB - South Boulder Mines

It's an interesting angle. Large shareholding in GDM and Uranex plus the business model of the two companies seem remarkably similar.

Current mgt team are Brian Rear (Chairman), Liam Cornelius (MD and founder) and Dennis Wilkins (Finance background). I cannot see any obvious links with GDM apart from the mutual shareholding and business plan. A 'Top 20' could reveal more. Only angle is that GDM has a director that is ex Newmont/Normanby. From memory Duketon was once held and drilled by Newmont in the 90's when the low gold price did not support substantial exploration. Pure speculation though.

As an aside, I agree with you re GDM's market value. Continental Nickel's nickel mine alone seems to have enormous potential with grades of +4% Ni.
 
Re: STB - South Boulder Mines

Definetly one for the watchlist, with a 6 - 9 month timeframe imo. I will pay close attention :)

They seem to be a bit less advanced than GDM, but if the follow the same processes, ie suring up their reserves etc, then it might have some decent potential.

Plus i like co's like this who have exposure to other companies through investments as it diversifies any unexpected risk. And if one of those co's goes through the roof then this should follow, although not by as much. :)
 
Re: STB - South Boulder Mines

Announcement today causing stock to jump ~43%:

Update on Potash Project at Lake
Disappointment East

South Boulder Mines is pleased to announce that it
has commenced a review of the potash potential at its
100% owned Lake Disappointment East Project.

The project comprises a single exploration licence
application (E45/3122a) covering approximately
572km² over the same lacustrine system which
contains Reward Minerals Ltd’s JORC compliant
potash resource of 8,635Mt @ 3.17kg/t for 27.37Mt
K2SO4. The licence is immediately east of and adjacent
to Reward’s Project area.

-----------------------------------------------------

Any chance of seeing a RWD style run?
Anyone can do some research on this one?

Market Cap: $8M
Shares on issue: 44M
Cash at Bank: $1.1M

Cheers
 
Re: STB - South Boulder Mines

For those who dont know K2SO4 is Potassium Sulfate, same stuff MAK and RWD are sitting on.. Anyone else following this stock?
 
Re: STB - South Boulder Mines

I'm in as of this morning. Lots on the go, small market cap. Bit of a pull-back for now but hopefully will head north this afternoon on the back of that announcement.
 
Re: STB - South Boulder Mines

prawn_86 said:
Definetly one for the watchlist, with a 6 - 9 month timeframe imo. I will pay close attention :)
Click to expand...

And why didnt i put it on the watchlist when i said i would? :mad:

Oh well, these things happen i guess, just annoys me missing out, but thats the joys of being a student :(
 
Re: STB - South Boulder Mines

prawn_86 said:
And why didnt i put it on the watchlist when i said i would? :mad:

Oh well, these things happen i guess, just annoys me missing out, but thats the joys of being a student :(
Click to expand...

Ha ha - yep I did the digging and did not put up the dough. Where has this potash deposit come from? It certainly was not being highlighted a few months back.

Still a low cap at 20 cps.
 
Re: STB - South Boulder Mines

Announcement out today with a nice little jump in SP:

---------------------------------------------------------

CARDABIA PHOSPHATE PROJECT

A review of available data has outlined excellent results by
previous explorers with grades of up to 49% P2O5, as well
as numerous grades within the 25% - 30% P2O5 range from
+5mm samples fraction obtained from drilling.

The project comprises a single exploration licence
E08/1850 covering approximately 593km ² of prospective
phosphate bearing stratigraphy within the northern
Carnarvon Basin.

----------------------------------------------------------

Anyone that is following MAK, or knows anything about this shed some light please?

Cheers
 
Re: STB - South Boulder Mines

STB has been creeping up over the last 4 trading days. This is the third time it is trying to break through 25 cps.

Wonder what is driving the volume. With RWD going gangbusters and STB holding the land next door to Lake Disappointment, I hope it has to do with the POTASH.

Anyway I got on board post phosphate & potash spike in Feb. It still has a low market cap, it still has $2m in shares on its book, it still has gold, nickel and fertilizer ingredient potential.... lets see if something tangible comes out this time as it still is all talk for the moment.
 
Re: STB - South Boulder Mines

Hey Bushman,

Yeah I grabbed a few of these last week too, mainly for the Potash and Phospahte potential,

I was hoping to buy more today but I was a bit stingy and am thus regreting it :banghead:

I like STB because it is a mini MAK and a mini RWD explorer in one

It has pegged Potash grounds around/near/adjacent to RWD's Lake Dissapointment and thus would be hoping for a nearology type play here

It also has a very promissing looking historically explored Phospahte project called Cardabia which looks quite large and has had lots of good 15%-25% Phospahte hits on it

The stock is still an early stage explorer and that is why its mkt cap is like $10m with $3m of cash and investments, however I believe it offers good upside and will most likely be re-rated as it moves along the development path with its 2 Agri projects

Another one for the Poo Brigade me thinks
 
Re: STB - South Boulder Mines

Hey YT,

I have also picked up a few of these guys.

Lots of volume today, would be interesting to get a chartists opinion.

I think that once the exploration licence at Cardabia (phosphate) is granted then this one will shine. I like the fact that they have multi exposure with U, Au, Ni projects as well as investments plus the phosphate and potash.

Top notch management by the looks and the share the same finance director as MAK. Management have also identified the fert sector as lucrative and are said to be pursuing other phos and potash projects.

Still early stages but definitely shows potential imo ;)
 
Re: STB - South Boulder Mines

nice to have you aboad YT, I have been quietly stock piling STB shares for around a month now, this is a little gem and is clearly the spec leader in the agricultural sector.

as you said it is like a mini RWD and MAK rolled into one!!

what really impressed me about the company was the fact that they identified the agriculture super cycle trend very early and went about setting up a "Fertilizer Division" which already includes several very exciting plays one potash one phosphate.

the only reason that the company is still valued at $10 million at the current shareprice of 24.5c is that they are awaiting the awarding of the exploration licences at Lake Disappointment East (potash bordering RWD's Lake Disappointment) and Cardabia (phosphate with incredibly high grades, from historical CRA drilling, with average grades twice that of MAK and peak grades almost 50% phosphate). Once these licenses are awarded over the coming months we should see the shareprice increase significantly as some of the risks are removed and we start seeing some action on the ground.

Now for a closer look at some of STB's projects

Cardabia (Phosphate Western Australia)

This is the current jewel in STB's crown, with historical drilling already confirming extremely high grade phosphate over a 21km strike. With average grades around 28%, and peak hits of 50% this offers spectacular upside if they can confirm a mineable resource.

The only reason Cardabia was mothballed by CRA was that the prevailing phosphate price was only $50 per tonne and at that price the project was deemed un-economical, but now as we know phosphate prices have risen by 700-800% since it was last explored by CRA, making it a very valuable asset for STB.

With the company ready to hit the ground running expect to hear plenty of news out of Cardabia throughout the rest of the year.


Lake Dissapointment East (Potash)

For those who have been following RWD, they would know all about Lake Dissapointment, it is likely to be Australia's next and only operating Potash deposit.

STB has managed to peg a 500sq km license just east of Lake Dissapointment, that contains 80sq km of the same drainage channel that hosts RWD's Lake Dissapointment Deposit.

STB is very confident of finding significant potash on their license and they are also likely to benefit from the nearology factor.


Bulge Nickel

For those that followed STB during the Nickel boom, they would know they have JV with IGO(which are one of the most successfull independent Nickel producers in Australia), with exploration showing strong signs the possible discovery of a new Nickel bearing region. With exploration ongoing it could provide some nice upside on any discovery.


Duketon Gold.

STB is also currently exploring for gold in Western Australia with some very positive recent exploration results, leading the company to believe they may have the possibility of several high grade toll treatable deposits, that will provide some serious cashflow for the company.
 
Re: STB - South Boulder Mines

I thought I'd post up a few picks to show firstly the location of STB's Lake Disappointment East project to RWD's Lake Disapointment Deposit of 8.5Bt's Potash deposit, it looks to be literally next door

Also as I said at Cardabia, historic exploration and drilling has found good grades of Phospahte 15%-25% but as high as 49%


"This review has highlighted that significant phosphate
mineralisation has been outlined at the Cardabia Project by
previous exploration in the late 1980’s.A review of available data has outlined excellent results by previous explorers with grades of up to 49% P2O5, as well as numerous grades within the 25% - 30% P2O5 range from +5mm samples fraction obtained from drilling."
 

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Re: STB - South Boulder Mines

nice pics there YT, pretty much sums up why STB has so much potential, just look at that Cardabia map which covers 21 sq kms with most hits greater than 20% phosphate, this really is an exceptional exploration license.

with Lake Disappointment East you can't get much better nearology than that, and with 80km's of drainage channel to explore you would be confident of finding some potash on the license.

YT have you got any price targets in mind, once the leases are finally granted?

with such a tight share register (only 44 million available), the people that jump in early will be heavily rewarded on any positive news.
 
Re: STB - South Boulder Mines

Well now I know why she's up three cents today with you blokes posting pictures and stuff:)

Has been on my watchlist since the end of Jan when IPL broke back through $120 and was watching for the break from 15-16c but unfortunately she failed (oh so briefly:eek:). Have been watching the gap (on the daily) and it has proven 16c as support imo.
Pennant on the weekly points to 30c soonish or fall back to support @ 15-16c.
Probably go with first option with the chatter and the crowd coming in:)

As usual watching with interest;)
 

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Re: STB - South Boulder Mines

thanks for the charting perspective jtb, at what price level would you as an obvious chartist consider it having a buy signal?

STB has postioned itself well to be one of only a handfull of specs in the agricultural sector worth taking a stake in, I believe there will be substantial upside here once the licenses are granted and they start explorational work in particular at Cardabia, those phosphate grades are exceptional.
 
Re: STB - South Boulder Mines

YOUNG_TRADER said:
Also as I said at Cardabia, historic exploration and drilling has found good grades of Phospahte 15%-25% but as high as 49%
Click to expand...

Yeh, the Cardabia map in that last post of your YT is very telling.

For me i would like to see them test out the areas around where they have put the 7km and 3km lines, and a bit below, where there are no hits yet.

Obviously thats imo without any other geological information available.

But when the licence is granted and if they can hit the ground running and get some decent new drill hits above 20% it will be very interesting...
 
Re: STB - South Boulder Mines

mick2006 said:
thanks for the charting perspective jtb, at what price level would you as an obvious chartist consider it having a buy signal?
Click to expand...

Hey Mick,

Looking at the daily (MACD cross today) I would recommend a buy below 22c prior to close;)

Holding above 24c will be the test.
I only use charts to attempt to time fundamental analysis and never trade purely on tech'.
It'll be a test of YT's fan club to run without an ann' but as you know that could be to anywhere once the frenzy hits:confused:
Personally I was prepared to punt @ <18c but thats me, 20c should be safe ST, but I'm not in yet.

If you've read the MAK thread you'd know I baulked @ 60K MAKO @ 25c too so its best to ignore everything that I say:)
 
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