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CTS - Contact Resources

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What a dog. Soon as I get into it goes down. Bad timing with the announcement - farm in with WAG on its Mt. Cotton Project. WAG - don't think they have uranium mining experience as they are involved in the general media and communications industry and all of a sudden caught a u bug.

WAG - they did well up 22 % at only 0.032 at the moment. I've put it in my watch list as you can make a bundle if you time these little ones correctly.
 

These Steinepreis brothers scare me a bit. The couple of companies I've seen them involved with have been true penny dreadfuls - that RMC (can't remember for sure, but involved in debt collection or something), and Western Metals which was a basket case before they got out of it.......what else are they involved in? Have I just chanced upon a couple of the uglier ones?
 
Apologies to RMC, it wasn't them, but a similar code......I know it began with "R".......I remember I couldn't for the life of me figure out where the value was going to come from!!!

 
I wish to retract my statement about the Steinepries brothers....I misunderstood the business they are involved in, of recapitalising and re-listing companies.

I didn't fully research before my comment, looking at the companies in isolation.

But I still remain wary of some of the companies they are involved in.
 
CTS resources are too small at this point in time, market won't push it any higher than current range without fresh news (drillholes).
 
it must be the location of the resource - high altitude and in Peru.
I have 15-20 Uranium companies on my watchlist with much smaller resource bases and some with just some exploration tenements.

anyone know the reason why for the recent drop in SP?
 
I think everybody is waiting for the approval to start drilling, once that is obtained the shareprice should start to firm up again. Remember very high grade resource with plenty of upside, could be some good buying over the next couple of weeks till they announce they have started drilling.
 

Brujo said:
Apologies to RMC, it wasn't them, but a similar code......I know it began with "R".......I remember I couldn't for the life of me figure out where the value was going to come from!!!

Click to expand...


I think your refering to RMG???

Seems to of had a little bounce @ 55 cents, went to 59 cents then backed off into the afternoon. Could be a little upside to come... out of nowhere... It is U. Terrible looking chart.
 
Although the yearly chart looks ok.
Looks to of come back in line with he previous trend, just jumped out of the B band and returned to more normal levels.

I got in at 61.5 cents

I need to practice some patients
 

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Hopefully the quarterly report due out today will contain some good news in regard to the drilling permits for their Peru Uranium project, as they have two drill rigs ready to start as soon as they get the go ahead.

Might get a nice kick along once drilling has commenced, remember very high grade resource with significant exploration upside. Could run very hard once drilling results start rolling in.
 

CTS's Quarterly report is available by Googling CTS Company Announcements. It not yet on their website - probably tomorrow.
 
CTS ASX ANN was issued earlier

CTS 4:51 PM Third Quarter Activities & Cashflow Reports
http://www.asx.com.au/asxpdf/20070430/pdf/3126njfh117j67.pdf

HIGHLIGHTS
Ability to acquire final 20% interest in the Corachapi Uranium Project in southeastern Peru.
Acquisition of direct 20% interest in uranium properties in Kyrgyzstan.
Issue of 1,605,000 shares on conversion of listed options.
Change of share registry to Computershare Investor Services.
Issued
 
Good reading from the quarterly report last night, now that they own 100% of the Peru uranium project they are sitting on over $1 billion worth of high grade surface uranium mineralisation. With plenty of upside potential to significantly expand the resource, just waiting drilling approvals with 2 drill rigs available to go straight away.

The most important thing about the Peru deposit is that it is at surface and very very high grade, so very little waste and low mining cost.

Once drilling resumes will possibly be re-rated higher in anticipation of further high grade results and also the possibility of quick lead time into a mining operation.
 
CTS today announced to the ASX the resignation of MD, Alan Maynard. How this will effect the share price of CTS the Market will determine! Do your own research on the company's future prospects.
 
MJSJ said:
CTS today announced to the ASX the resignation of MD, Alan Maynard. How this will effect the share price of CTS the Market will determine! Do your own research on the company's future prospects.
Click to expand...


Not a good thing i believe... This would lower the confidence of the holders and drag the price down...
 
MJSJ said:
CTS today announced to the ASX the resignation of MD, Alan Maynard. How this will effect the share price of CTS the Market will determine! Do your own research on the company's future prospects.
Click to expand...


Note his departure at the same time from Artemis (ARV), a company based out of the same office as CTS..........
 
Guys I think most of you know I'm pretty good at picking undervalued stories,

CTS is my favoured Uranium play by far, regardless of current management etc, its just like MTN in its early days, while other JORC compliant companies rocket CTS's share price is lagging, well just like MTN it will only be a matter of time before a take over offer comes to cherry pick this company

With 110m shares on issue and 10mlbs of Uranium I see a take over offer of around $1.35 = $150m approx = $15 per lb JORC uranium

Wait and see
 

Well possibly they dont need to offer a price that high. If the directors are dicks like OMCs then they mite sell out for much less

(still not over it, LOL)

But yeh (without making your head any bigger LOL) i do agree the story here looks good. But i thought it reminded you more of URA early days as opposed to MTNs ?
 
An extract from "The Bulletin"

Company consultant Jon Garvey said the company expected to complete its exploration commitment this year, with trial mining in early 2008 and an upgrade to full commissioning and mining in late 2008. Preliminary costing suggests an initial capital cost of under $10m for a two-stage crushing plant and heap leach pad with a mining cost as low as $5-$7/lb of contained uranium.

The company is also looking to seek a listing on the Toronto Stock Exchange later this year, where there is a lot more empathy for companies operating in South America.

With a cash cost of say $7 per lb and using a U price of say $87 per lb for the next few years the margin = $80 US lb = $100 AUD lb

For 10m lb's thats a net cashflow of $1Billion

Not too bad I say
 
not bad, I agree. but there are a lot of U shock,the question is which is better?
YML, ERN, BMN,MTN,ERL,PXR,NTU,EDN,DMA,ERL......
 
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