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DNK - Danakali Limited

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Re: STB - South Boulder Mines

Hmm Kenna looks like your chart was right well more accurate than mine,

Interesting how it bounced off 28c, I sorta see some line of support there but not sure depends how you look at the chart,

What I don't get is with 44m shares on issue and close to 7m traded yesterday and today = almost 10% of all available shares changing hands!!!!!

Thats alot of old holders selling and new hands buying
 
Re: STB - South Boulder Mines

YOUNG_TRADER said:
What I don't get is with 44m shares on issue and close to 7m traded yesterday and today = almost 10% of all available shares changing hands!!!!!
Click to expand...
Sometimes the number is inflated with the trades made by day traders trading the swing. Anytime the swing is more than 5% you can get plenty of trades being made to cream off a small profit or sales made by automatic stop loss triggers. Was that possible here?
 
Re: STB - South Boulder Mines



G'day young trader, you seem quite upbeat about this company, may i ask how many you holding? Interesting times ahead.

cheers
 
Re: STB - South Boulder Mines

Hey pan,

I like the company but its a spec explorer so I'm not holding too many, I would have like 500k-600k but was too slow and stingy and thus only got about 300k before the price ran away from me

I'm holding 200k as a core parcel and trading 100k around, almost bought a few more this morning at 25c but it never got there

Todays ann was good, shows the company is serious about establishing itself in the Agri space,

However its getting sold off which puzzles me somewhat


NEW PHOSPHATE AND POTASH
PROJECTS
South Boulder Mines is pleased to announce that it has
further strengthened its position in the fertiliser sector by
applying for additional prospective potash and phosphate
projects.
A new phosphate project called Thangoo has been applied
for in the Canning basin. A previous drill intersection of
15.2m @ 4.3% P2O5 from 137.2m depth confirms the
potential of this new ground position.
The existing Cardabia phosphate project has been
expanded with the addition of two additional exploration
licences, effectively doubling the size of the project and
establishing South Boulder Mines as the dominant land
holder in the Cardabia region.
The project now comprises 3 contiguous exploration
licence applications E08/1850, E08/1855 and E08/1856,
covering approximately 1,384km² of prospective phosphate
bearing stratigraphy within the northern Carnarvon Basin
of W.A.
The Company has further enhanced its fertiliser portfolio
with the addition of 3 new exploration licences totalling
895km², under application in the Canning Basin targeting
buried evaporite hosted potash.
The location of South Boulder Mines fertiliser projects are
shown in figure1.
 
Re: STB - South Boulder Mines

It would be my luck that once I buy in it goes down.

But on the plus side it's recovering back from its low of 25.5 quickly.

The 3 new projects look promising.
 
Re: STB - South Boulder Mines

I think its a slow process getting tenements granted in W.A.
It could take about a year....
 
Re: STB - South Boulder Mines

I bought in today at .26c only for it to drop to .235 30 mins later, guess i didn't pick the low for the day. However everything went ****ty today.
 
Re: STB - South Boulder Mines

adamim1 said:
I bought in today at .26c only for it to drop to .235 30 mins later, guess i didn't pick the low for the day. However everything went ****ty today.
Click to expand...

With the DJIA up overnight, the only rationale for the sell off today was profit-taking for some extra spending over the long weekend i guess
 
Re: STB - South Boulder Mines

HI everyone,
I took a holding in this one on Friday too. Something highlighted on another forum was that these guys are getting a bit low on cash. Anyone care to comment?
 
Re: STB - South Boulder Mines

STRAT said:
HI everyone,
I took a holding in this one on Friday too. Something highlighted on another forum was that these guys are getting a bit low on cash. Anyone care to comment?
Click to expand...

They own $2m worth of ASX listed shares so they have some liquid assets on their boooks.

Given the low number of shares on issue, I would say there would be some capital raising at some stage. Depends on how ambitious the drilling program is re timing and amount.
 
Re: STB - South Boulder Mines

Have been away for the weekend and just checked STB and was suprised to see such a fall on Thurs, especially after what appears to be a good announcement.

Hopefully it was only some profit takers exiting and nothing more sinister.

Its good to see the company has recognised the ag area as an up and coming sector however there are a few things I would like to know:
1. When will the licences actually be granted?
2. What timeframe after that for drilling are we looking at?

If it is going to be a drawn out process to get the licences granted then we could see attention move away and a slow decline imo.
 
Re: STB - South Boulder Mines

Yep, they need to get into action with the lisences Prawn. It will be a test of management to get things moving now and take advantage of the current investment climate. Some decent PR is required now. Maybe they need Andrew Drummond as a director?
 
Re: STB - South Boulder Mines


Someone on another site asked Michael Giles the question re $ and here is the relevant part of his response:

"At the moment we have cash in the bank in the order of 1 million, 2 million worth of shares in other companies. Therefore, we have access to $3 million, so we are not in any great need to go and raise money just yet.

On saying that, we have had a number of approaches from different parties with offers to participate in any capital raisings if we need to at some stage."
 
Re: STB - South Boulder Mines

Yeah Spotty I thought that to re funds, I would have thought that like IRC should they need funds they could just sell some of their listed investments,

I mean why bother raising money/diluting at such a low level, what they need to do is advance those Poo projects, get a re-rating to a decent mkt cap level ie $20m or so, then raise some funds

Re the sell off I suppose alot of people probably think its just too early stage, I never realised it would take 12months to get these projects going

Anyway as I said its a good spec holding
 
Re: STB - South Boulder Mines

Quarterly out today.

It gives a nice timeline for all their fert tenaments.

They plan to have a JORCd resource @ Lake Disappointment East by the end of the year. So it appears that this licence will be the first granted and the first fert JORC they will have.

For their other ag projects it looks as though it will be a little longer.

Cardabia is expected to be drilling by very early next year, but the benefit of that is they already have historical data they can compile and begin to work with.

Other projects are of a similar timeline to Cardabia without the historical data.

Seems as though those with patience will be rewarded with this one.

One JORC by years end sounds promising though
 
Re: STB - South Boulder Mines

Worldwide Fertilizer Consumption Demand is on the increase...see the attached file for a World schematic.

A few people have been discussing the consequences of a reduction in arable land. The NY Times article points to increased desire for efficiency to generate higher yields, a direct result from increasing fertilizer use across developing economies.
 

Attachments

  • 20080430_FERTILIZER_GRAPHIC.jpg
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Re: STB - South Boulder Mines


Hey Prawn, yeah I was pretty surprised when I saw the target for a JORC at Lake Dissapointment East as DEC 08, thats not that long and given the mkt cap wowee could this spec holding turn out to be a monster if they can JORC a resource

I'm surrpised they're not moving faster with Cardabia though given its the one with Historical srilling a nice target estimate would be nice
 
Re: STB - South Boulder Mines


Agree with both these point YT.

If a decent JORC is released by years end, then a re-rating should definitely be on the cards.

Re: Cardabia the co has said
Develop exploration plans and data compilation – (by end of June 08)
Click to expand...
So hopefully this means getting a target figure released once the historical data has been compiled.


At this stage it appears to be red tape holding these guys up more than anything. Unfortunately its not as quick a process as i would like.
 
Re: STB - South Boulder Mines

Wonder if they ´ll have any native title issues like RWD did? One thing I am hoping is that they can scrape up some better grades than RWD. That would set the cat amongst the pigeons.
 
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