KAI - Kairos Minerals

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

Hey Rhysvils

I was going off Doc's calcs because when the qtrly was out AGO was $2, its now a $3.50 - $4, well actually lately its $2.50 what a joke!

Anyway I bought it for the possibility of Iron Ore just like MOL

NTA per share is still 1.16cps (last traded at 0.07) despite the sell off in AGO.

Someone wanted the heads - 37mill or so bought today (the whole of the depth at 0.07).

 

[crombo97]

Re: MPJ - Mining Projects Group

YT are you buying the heads or the oppies
I hold both and i am looking to top up at current prices
What sort of time frame do you think this one will be????
Just over 12 months till the oppies are up 31st july 09 ex price 0.01
I would be very interested in your thoughts.

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

Hey Crombo,

I picked up heaps of heads, will look to buy options soon too, the thing with the options is they can be the real big winners,

I bought a heap of CFRO 2.5c options for 2c when the SP was 1c-1.5c and recently sold heaps at 1c so that was a 500% return, high risk but high reward,

MPJO are far less risky because they have until July 09 as opposed to CFRO's Nov 08, also MPJO are 0.009c exercise vs an Share price of 0.006 so much more closer to being in the money than CFR 1c-1.5c and exercise at 2.5c

But opies are higher risk, the heads are really no risk as they are trading well below NTA (then again in these mkts alot of things are) and I guess there is an opportunity cost,

I have held a few MPJ for ages and have traded a much larger parcel in and out a few times,

This time what got my interest was the fact that next door MOL found huge hits of Fe from surface on the Western part of Spinifex Ridge which if you look at the map is proximate to MPJ'S Talga Peak

MPJ have recently completed some sampling and chip surveys from I think the Southern portion of their lease, given MOL's find next door and the fact that Talga Peak is a large tennement in the Pilbara rea of W.A. I'd say there may be a fair chance of some Fe possibly being present?

In any event given the fact we're below NTA I see little risk and am willing to roll the dice like I did with CFR

 

[snap82]

Re: MPJ - Mining Projects Group

been watching this stock for a while large volumes traded today anyone got any info on these guys??????

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

I bought a bunch of the opies at 0.001 figure can't go too wrong with them

They are 0.009c opies with 12 months left

Still reckon they will go for a massive run on MOL Iron ore re-rating in the area, but thats just my thoughts

 

[prawn_86]

Re: MPJ - Mining Projects Group

I think the market is dis-enchanted witht he management, plus the value of all thier investments is falling, so that means their NTA is dropping also.

Definitely an all or nothing play hey YT? Cant say i have the balls for it though in this market climate, but hey, its these trades that have got you where you are...

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

Hey Prawn,

I made really good money recently punting CFR and traders went bonkers on that

Was amazed at how CFRO ran from 0.001/0.002 to 1c when they were still out of the money! and they had a 2.5c exercise and only a few months left, they returned the lucky brave punters 500% to 1000% before crashing back to earth,

Given MPJO are 0.009 exercise and have a whole year to run I see them as low risk as I am confident worst case some time in the next 6months they will at least be trading above 0.002

Like I siad company though I'm in this for 2 reasons

1. The company is trading below NTA

2. The company may have similar Iron Ore to MOL = re focus FDL style to Iron Ore and we all know how that story went, additionally the company says it is looking to acquire new resource projects

Who Dares Wins!

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

I have attached an image I found in MOL's presentation to show why I am so confident that the large Iron Ore hits MOL is finding may flow across into MPJ Talga Peak

From the pic you can see how MPJ's Talga Peak forms the lower western portion of the map

However what is important to note is that MOL intially found Iron Ore west of Spinifex Ridge, ie towards Talga Peak (this was Fe Area 1) they then drilled further west and found more Fe (this was Fe Area 2) so the closer they moved to Talga Peak the more Iron Ore they found and these 2 Fe Areas along with Spinifex Ridge Cu/Moly deposit are just over 1 km from the Talga Peak boundary

From waht I understand prior to MOL's Iron Ore hits, MPJ never evaluated or look at Talga Peak from an Iron Ore perspective, just a base metal one and so a complete review is supposed to be underway

 

[prawn_86]

Re: MPJ - Mining Projects Group

There sure is potential YT, its just the management seem a bit suspect to me. They are not exactly fast movers by any standards. If/when the markets get better is also another lingering doubt.

.001 of MPJO was soaked up today though, but no-one was prepared to pay .002 so some people have taken notice, although im guessing most of the volume yesterday was you...

 

[prawn_86]

Re: MPJ - Mining Projects Group

After not trading at all for the past 6 months, over $20k of MPJO went through today (1 major trade, one minor).

Speculative punt or insider info??

 

[prawn_86]

Re: MPJ - Mining Projects Group

Speculative punt or insider info??

Well no further buying has occured so looks like someone just had $20k to burn. Pity they didnt give it to me instead....

 

[happytown]

Re: MPJ - Mining Projects Group

ann out regarding proposed acquisition of remaining shares in xplor ltd not already held by mpj

xplor owns (100%) 3 gold tenements in wa and vic

...

The acquisition of Xplor represents the Company’s first step towards developing an expanded portfolio of prospective gold leases in Australia.

The all scrip proposed acquisition is based on 15 MPJ shares for every 1 Xplor share not already held by MPJ. A total of approximately 250,000,000 fully paid ordinary shares would be issued by MPJ under the proposal, assuming 100% acceptance

...

cheers

mpj you can go back to sleep now

 

[snap82]

Re: MPJ - Mining Projects Group

Is anyone else still watching this stock other than me. Looks like good buying at this price. Any thoughts anyone?????????

 

[happytown]

Re: MPJ - Mining Projects Group

in 2 weeks 1,023,136,413 options will cease quotation on the asx and if not exercised @ .009 will expire worthless on 31/07

cheers

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

Been awhile since I followed MPJ, but my bottom draw started to rumble over the weekend for 3 reasons


1. The Current NTA of the company is $5.185M" with 1800M shares = 0.288c a share or basically 0.3c

I know there was an SPP that dilutes the stock price but the funds were raised at 0.2c so even still the NTA will be 0.25c a share

How many penny specs have an NTA equal to that of their current share price and so much prospective upside? Very few


2. The directors have massive holdings and have continued to top up

Richard Revilins 200M shares + 67M options

Bryan Frost 385M shares + 150M options

I like it when directors interest are aligned with shareholders interests as now they have a vested interest to do something and get the share price higher

3. Although they have done little at Talga Peak, alot has been going on around them
To their left AGO has continued to scratch around trying to find more Fe and it should be noted that MPJ were involved with AGO in its early days

To the immediate right MOL has now firmed up a 7.3Mt's@59%Fe JORC resource and are looking for more as well as progressing a 1Mt p.a. operation


Further to the north right we have Haoma mining HAO who found some Fe and were then approached by Girilia GIR for a JV over their grounds

"Haoma has previously advised that its Bamboo Creek mining and exploration tenements lie adjacent to the Spinifex Ridge Project Area held by Moly Mines Ltd (See Section 3.3 of Haoma’s March 2007 Activities Report). Recent exploration drilling at Spinifex Ridge by Moly Mines of three iron ore mineralised zones has identified that the area contains high grade Direct Shipping Ore (“DSO’)
and it announced in their June Quarterly Report an indicated and inferred resource estimate of 7.3million tonnes at 59% Fe using a 50% Fe cut off.

Published aero magnetic surveys of the area indicate that Moly Mines’ Iron Ore Zone could extend into Haoma’s exploration tenement E45/3217.

Haoma was recently approached to farm out tenement E45/3217. Before making a decision the Directors decided it was appropriate to commenced surface sampling to define appropriate drilling targets. The location and initial results of sampling are shown in Figure 1 and Table 1 below."

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

Interesting Iron Ore developments happening next door with MOL and their Iron Ore

Seems the Chinese are looking at offtakes/sales and/or JV equity funding



http://www.bloomberg.com/apps/news?pid=20601081&sid=ahzwZ8K9MC1U

Moly Mines in China Iron Ore Sales Talks, CEO Says (Update1)
Share | Email | Print | A A A

By Jesse Riseborough

Aug. 4 (Bloomberg) -- Moly Mines Ltd., seeking to build a A$604 million ($511 million) molybdenum mine in Australia, is in talks with Chinese groups for iron ore sales accords from an adjoining deposit amid surging demand.

“We are getting a knock on the door from a Chinese party about once a week now,” Derek Fisher, managing director of the Perth-based company, said today by phone from Kalgoorlie, Western Australia. “We are getting a fair amount of attention particularly from the smaller to intermediate mills.”

Moly surged 55 percent Sydney in trading this week after yesterday announcing plans to start output by the first quarter of next year from an iron ore mine being developed at Spinifex Ridge in Western Australia. China, the world’s biggest buyer of iron ore, is securing supplies to feed demand from steel mills.

“We will have something signed off in the next few weeks,” Fisher said, adding that he’s meeting with a Chinese group today at the annual Diggers and Dealers Conference. Sales contracts will may include an equity stake in the company, he said.

Moly jumped 24 percent to 81.5 cents at 1:11 p.m. Sydney time. The company is seeking to produce 1 million tons of the iron ore annually from the A$20 million mine, Fisher said.

The company delayed starting its Spinifex Ridge molybdenum mine last year as the worst credit crisis since the Great Depression froze lending and curbed demand for the metal used in steelmaking. A rebound in prices and a thawing of the debt market may help the company secure mine financing, Fisher said.

“These are the sort of moly prices we believe the project is financeable at,” he said. “We’ve got to wait for the debt market to come back but it’s looking pretty favorable.”

To contact the reporter on this story: Jesse Riseborough in Melbourne at jriseborough@bloomberg.ne

 

[doctorj]

Re: MPJ - Mining Projects Group

YT, I think this one is a dog with fleas.

A company with such little capital shouldn't be spread so thin. Plus, nearology aint enough anymore.

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

Fair enough Doc understandable as we've been waiting for ages, but so many of my dogs have run off their low levels to deliver staggering returns, so I am a hopeful dreamer


http://www.miningprojectsgroup.com.au/projects.php
"major regional structure which has 12km of strike has received very limited exploration. This shear zone extends from the western boundary of the tenement which is shared with Atlas Iron Limited, through to the eastern boundary shared with the Spinifex Ridge project, owned and operated by Moly Mines Limited."


Moly's Iron Ore project
http://www.molymines.com/public/View_Page.aspx?id=37&category=6&SubCat=17&Ddte=1&DGrd=1


AGO's Iron Ore to the West
http://www.atlasiron.com.au/IRM/content/projects_mtwebber.html



YT the eternal optimist

 

[doctorj]

Re: MPJ - Mining Projects Group

Fair enough Doc understandable as we've been waiting for ages, but so many of my dogs have run off their low levels to deliver staggering returns, so I am a hopeful dreamer

There are also plenty of good companies available at relatively low levels.

How far are you underwater?

 

[YOUNG_TRADER]

Re: MPJ - Mining Projects Group

There are also plenty of good companies available at relatively low levels.

How far are you underwater?

Not really that much under water as this was never a huge position, I think 0.003 is break even

Think from current levels it offers good upside as nearly every other micro cap spec I have held or watched has run LKO EGO EXM TAM WAG SPP AAF ADY MKY PDY ORO CFR FUT

even that dog MHL is running after doing a 1 for 1 at 0.001 almost 1Billion shares and they have only around $600k cash and now its trading at 0.004

Not one to bet the house on but I think everyone needs a little spec, dog or not :