GRX - GreenX Metals

[doogie_goes_off]

Re: PDZ - Prairie Downs Metals

Popped through the 87c mark with ease, are we looking at $1.15 as a target now, reasonable value for a punt.

 

[PBH]

Re: PDZ - Prairie Downs Metals

Incredible news release today.

In addition to a great zinc resource, these guys may be sitting on a mountain of copper as well..

I know it may be tempting at the moment, if you're a holder, to biff these off at current levels (1.00 - 1.05), but my advice is: don't!

If you do I, I think you're going to feel mightily ripped off in a couple of weeks time (bfs announcement coming up).

I'm holding until 1.30 at least.....

 

[StillStanding]

Re: PDZ - Prairie Downs Metals

70m Shares @ $1.30 is still under $100m market cap for what I agree could end up being 'a mountain of copper'. And of course the zinc alone is enough to justify the current cap.
At this stage I'm thinking $1.30 is a bit conservative and $2 ($140m market cap.), while certainly ambitious, is not out of the question. We could end up with well over $2b in-situ depending on how things pan out.
It will depend, of course on how the drilling goes, but I have just converted the options I bought between 15c and 30c and won't be getting out anytime soon.

 

[PBH]

Re: PDZ - Prairie Downs Metals

I agree $1.30 probably is a bit conservative, hence the 'at least' part.
However, I am taking into account the current investor climate, which seems to be a bit shaky.
Also, zinc prices aren't exactly helping the picture at the moment either.

The thing with this company is though; they don't have much cash.
So if they were to push on into production subsequent to a positive bfs (an event which I would rate as a near-certainty), a quite substantial fundraising effort will be needed. This, I feel, would put a bit of a dampner on share prices in the short/medium term.

But as far as I'm concerned, the major question for PDZ ultimately is; will they ever make it into production before being swallowed up by a larger mining company?

With a great, high grade, proven zinc resource, loads of potential in the copper department, and a need for cash to get the ball rolling, they almost seem taylor-made as an acquisition target for the newly formed OXR-ZFX merger.

I suspect Michelmore has one eye firmly glued to this company , and is awaiting the bfs release with a heightened sense of anticipation...

Time will tell I guess...

 

[StillStanding]

Re: PDZ - Prairie Downs Metals

Quite right, they will get some money from the option exercise but that's not going to take them far. More equity will indeed be needed and although the public investor climate may not help them I don't think they will have any problems issuing a placement to an institution. There's plenty of cash out there still for decent projects.
The potential for takeover is certainly there, but I don't know much about that sort of thing. Would love to hear any further thoughts along those lines.

 

[Absolutely]

Re: PDZ - Prairie Downs Metals

Nice little run for this one recently.

After a director (Hanson) left last year amid controversy there was uncertainty that this stock had a future. Then some interesting drill results and unusual movements in the share price suggest that this one is finding it's feet again.

Either that or traders are messing with it.

 

[ands]

Re: PDZ - Prairie Downs Metals

Anyone still following this? Jumped on at 17.5c last month. It recently ran from 11c to 25c on the back of a very well done presentation and the commencement of iron ore drilling. But a lack of news from the drilling which started 6 weeks ago, looks to have disappointed investors leading the sp back to 19c.

They seem very undervalued at only $14 million market cap. They have an inferred and indicated resource at Prairie Downs of 4.7 million tonnes at a grade of 6.3% zinc, 1.8% lead and 18g/t silver (295,000 tonnes of zinc, 83,000 tonnes of lead and 2.6 million ounces of silver) and they have only drilled 1.2kms of the 17kms strike zone. Add to this the fact they have just drilled for Iron Ore in an area that has reported good results in the past. DMA a neighbour recently reported 55-60% Fe. 72.9 million shares on issue. $4.3 million in the bank as at 10 Aug 2009.

 

[springhill]

Re: PDZ - Prairie Downs Metals

MC - $17.5m
SP - 17.5c
Shares - 98m
Options - NQ
Cash - $2.7m (+$10m value of holdings in Papillon Resources)

Top 20 - 47.7%

PDZ has bolted nearly 35% today on news of a coal acquisition in Poland. With a cash + investments value 2/3rds of its MC, and the Prairie Downs BMP they value at $10m (Ivernia disagrees) makes compelling argument to explore further and keep PDZ on a watchlist. Temporary watchlisted only.
To be balanced, why hasn't LWB scooped this new coal project if it has the potential PDZ thinks it has.
Without the sale of the PDBMP, ot the sale of it's shares in Papillon, a cap raising and dilution would have to take place to fully fund a complete drilling program..

PRAIRIE DOWNS SECURES A LARGE COAL PROJECT IN POLAND
● The Project is comprised of four (4) coal licenses covering 182km² (18,200Ha) located in South East Poland in the Lublin Coal Basin, which have been granted by the Ministry of the Environment in Poland to a locally registered subsidiary of Prairie.
● The Lublin Coal Basin is an established coal province with coal mining activities dating back to 1982 and established infrastructure, including power and rail.
● The Project is situated adjacent to the Bogdanka coal mine operated by Lubelski Węgiel Bogdanka S.A. (“LWB”).
● LWB is listed on the Warsaw Stock Exchange (WSX Code: LWB) and has a market capitalisation of approximately A$1.2 billion.
● LWB has successfully demonstrated that the Lublin Coal Basin has the potential to host a new generation of large scale coal projects and has recently expanded its production levels to approximately 8 million tonnes per annum (targeting production of 11.5 million tonnes per annum by 2014) of high quality thermal coal with an average calorific value of approximately 6,200kcal/kg.
● Historical exploration and technical data indicates that the Project has the potential to host a large scale thermal coal deposit.
● Prairie will now focus on evaluating the large amount of data available from exploration activities undertaken by the Polish Government and its agencies during the 1970’s and 1980’s.
● Once the available data has been reviewed over the coming months, the Company will look to undertake further exploration activities, including a drilling program.




PRAIRIE DOWNS BASE METALS PROJECT
In June 2010, Prairie and Ivernia entered into a Joint Venture Agreement (“JVA”) which resulted in Ivernia investing in excess of $3 million in exploration at the Project including extensive geochemical sampling and the completion of two drilling programs. Having satisfied the funding terms of the Farm-In period of the JVA, Ivernia would have had the option of acquiring a 60% interest in the Project for a payment to Prairie of $10 million. In June 2012 Ivernia elected to withdraw from the JVA and as a result the Project remains wholly owned by Prairie.
A comprehensive review of exploration data, including the work funded by Ivernia, is now being undertaken to determine the best options for the Project, including undertaking additional exploration activities and/or entering into joint venture arrangements. The Ivernia work program has provided further evidence that the current Prairie Downs zinc, lead, silver deposit demonstrates the potential for a larger Sedexstyle lead-zinc deposit to be hosted in sedimentary rocks south of the Prairie Downs Fault.
Prairie considers the Project and the region have substantial exploration potential and, with more than $12 million in cash and listed securities, the Company is in a strong financial position to add further value to the Project.

 

[springhill]

Re: PDZ - Prairie Downs Metals

Up a further 34% today at this point in time. Coal outside Australia looking a good proposition

 

[burglar]

Re: PDZ - Prairie Downs Metals

Up a further 34% today at this point in time. Coal outside Australia looking a good proposition

Wow!

 

[springhill]

Re: PDZ - Prairie Downs Metals

Company Presentation.
http://www.asx.com.au/asxpdf/20120910/pdf/428lrn9tpdvhxp.pdf

 

[springhill]

Re: PDZ - Prairie Downs Metals

PDZ continuing its march upwards!

 

[springhill]

Re: PDZ - Prairie Downs Metals

That entry price of 17.5c in August is paying massive rewards to anyone who entered at that level. Outstanding stuff!
Congrats to anyone in PDZ.

 

[Country Lad]

Re: PDZ - Prairie Downs Metals

There are quite a few of these little double bottoms around at the moment and many of them are continuing upward.

Cheers
Country Lad

 

[System]

On June 25th, 2014, Prairie Downs Metals Limited changed its name to Prairie Mining Limited.

 

[greggles]

Prairie Mining bucking the trend today, up 13.33% to 59.5c after the company addressed recent media articles that reported possible co-operation between PDZ and Jastrzębska Spółka Węglowa SA to progress the development and exploitation of the Company's Polish coal assets.

Prairie Mining confirmed that a meeting was held with JSW where preliminary discussions regarding co-operation took place but that the discussions were at a very early stage and there was no certainty as to whether any co-operation will be agreed.

The market took the announcement as a positive sign nonetheless, sending the PDZ share price north. At 59.5c, Prairie Mining looks set to break through resistance at around 60c.

 

[greggles]

Prairie Mining fell off my radar after my post in February, but it has had quite the roller coaster ride since. As I predicted, it did break through 60c and then spent the next month and a half climbing to a high of 92c. Days later it halved in price to 45c in just one week after reporting delays with the issuance of an Environmental Consent decision regarding the Jan Karski Mine in Poland, causing the company to commence legal proceedings against Poland's Ministry of Environment in the Polish civil court

The share price was then subject to quite a bit of volatility for the next four and a half months, rising to 65c before falling again to 35c and then range trading between 40c and 50c for almost three months.

Today, the PDZ share price gapped up following an announcement by the company that appeared to imply that a deal between Prarie Mining and Jastrzębska Spółka Węglowa SA regarding the Jan Karski Mine may be imminent. The language of the announcement certainly gave me that impression.

PDZ finished the day up 30.23% to 56c. Price movement from here is going to be entirely announcement driven. Be interesting to see what transpires.

 

[System]

On December 16th, 2021, Prairie Mining Limited (PDZ) changed its name and ASX code to GreenX Metals Limited (GRX).