PEK - Peak Resources

[jonojpsg]

I'm quite surprised that no one has posted this yet, but ...

PEK came out of a trading halt today and is up 0.280 or 54.369% to 0.795 on Rare Earth RC Drill Results for its Ngualla projects. On massive volume too. Further results expected in the next 3 weeks.

OK just ran a quick back of envelope calc on their anouncement - from the map inset showing latest drill results on the basis of a 500m x 500m x 25m deep average and assuming a density of 2 tonnes/cu m gives 12.5M tonnes of ore at an average around 4% from the looks of things gives 500k tonnes of RE.

This compares to ARU with I think almost 900k tonnes of RE (market cap $500m ish) and LYC with 1.4M tonnes ($3bn market cap)

Obviously both are much further ahead than PEK BUT with RE in such demand and little supply, this looks like a bit of a no brainer given PEKs market cap currently around $110m. Especially given that they have significant areas NE and SW of the central block that hold REs albeit at lower grades.

Also, given most of the ore is at surface or within cooee, they should have pretty good economics.

 

[absolute1]

im new to technical analysis so i like to compare my findings with others and found this video on PEK. Pek has a positive future by the looks, esp with futher results pending

http://www.youtube.com/watch?v=8OKZSsMPa-o&feature=feedu

 

[absolute1]

Raisama Limited (RAI) targeting PEK for takeover

announcement out yesterday

 

[panikhide]

Raisama Limited (RAI) targeting PEK for takeover

announcement out yesterday

No. That is wrong.

PEK is Peak Resources Limited.

Raisama Limited are looking to take over Peak Oil & Gas Limited, which is an entirely different entity.

 

[absolute1]

oh sorry my bad, i was quickly going over announcments this morning, should try read it more carefully. thanx

 

[panikhide]

PEK's run continues. Touched the 90s today and yesterday. It's now a 10-bagger.

 

[Mofra]

Not much activity on this thread - this one has just hit my watchlist (not holding yet).

Comfortable with the cash position in this company as per the recent H1 financial reports, still firmly in the exployer phase of it's lifecycle but enough drilling to spark some interest. Fortunately/unfortunately the cash position and rate of expense seem pretty stable and fater last year's inflows it doesn't seem a cheap SPP entry is on the cards in the near future.

Shocking chart ST although current volitility means the pullback may be starting to lose steam. Wet season lasts until April so no further drilling results expected for some time.

Anyone else watching this one?

 

[Mofra]

Nice pullback on this one to close to 50% from highs, drilling results due in July.
Much more tempting for an entry on this one now. Technically would await confirmation of the trend being broken first.

 

[panikhide]

Nice pullback on this one to close to 50% from highs, drilling results due in July.
Much more tempting for an entry on this one now. Technically would await confirmation of the trend being broken first.

I'm still watching. I've been in and out a bit since my smug comment 3 posts ago about this being a 10 bagger. I'd really like to start making money from PEK again. Keep the faith.

 

[alex90]

Zari is out, now 100% acquisition of Ngualla project for PEK which is shaping up to be a world class REE deposit. Drilling results trickling through over the next few months leading up to a maiden JORC in early 2012....

This is just me speculating but the appointment of Mr Jonathan Murray who specialises in "all forms of acquisitions and divestments, governance and corporate compliance' several months ago tells me interest from major outside parties isnt that far away....

IMHO
DYOR

 

[panikhide]

PEK in trading halt pending an announcement regarding the maiden JORC!

This is what many long time holders have been waiting holding on for.

Bring it on.

 

[Fantasy09]

PEK in trading halt pending an announcement regarding the maiden JORC!

This is what many long time holders have been waiting holding on for.

Bring it on.

Nice run today, up almost 20%.

 

[Hal2000]

How did you buy the options?

They don't come up as a listing... actually there is PEKO but states that it cannot be found

Yes, "PEKO" was "Peko-Wallsend" being the merged entioty of ex Tennant Creek miner ("Peko Mines", copper/gold) and "Wallsened Coal" (out of NSW), which begat "North Mining", which was swallowed up by Rio Tinto.

 

[Chasero]

Bought a huge parcel today @ 0.35 with profits from selling QPN

Huge resistance at 0.35 according to charts. Plus I think PEK has been way too heavily sold off, much like AZH.

There is a gap at high 20c but I doubt that will be filled due to resistance at mid 30c.

IMO.

 

[Chasero]

Bought a huge parcel today @ 0.35 with profits from selling QPN

Huge resistance at 0.35 according to charts. Plus I think PEK has been way too heavily sold off, much like AZH.

There is a gap at high 20c but I doubt that will be filled due to resistance at mid 30c.

IMO.

Stop loss hit at 33.5c a few days ago... losses taken.

Gap at around 29c going to be filled imo.

 

[springhill]

WIDE HIGH GRADE DRILL RESULTS FROM SURFACE AT NGUALLA RARE EARTH PROJECT

Peak Resources announce several new high grade rare earth mineralised intersections from surface at its 100%-owned Ngualla Rare Earth Project, the fifth largest rare earth project in the world outside of China.

Ngualla Drilling Program 2012 (Southern Rare Earth Zone)
Assay results received from ten new drill holes in the central bastnaesite core of the Southern Rare Earth Zone include several high grade intersections mineralised from surface to the end of hole:

NRC169: 180m at 3.94% REO from surface to end of hole

NRC172: 130m at 4.29% REO from surface to end of hole

NRC176: 140m at 5.21% REO from surface to end of hole

NRC177: 20m at 4.01% REO from 28m including
14m at 5.16% REO from 30m

NRC178: 36m at 2.82% REO from surface and
34m at 3.84% REO from 48m

 

[Ann]

Rare Earth. http://www.peakresources.com.au/investors/company-information/profile

If the price of oil drops will this be a catalyst for PEK price to rise?

...and a chart displaying a long term overhead resistance price of 25c it needs to overcome and the Positive Volume Indicator which shows massive excitement and support for the company, even though the price is going nowhere at the moment.

(Disclosure: I don't hold)

 

[Ann]

Sorry Mods, I looked for another PEK thread and only now see there is one, would you be kind enough to tack my post onto the original thread, my appologies.

 

[Rocky 01]

I'm quite surprised that no one has posted this yet, but ...

PEK came out of a trading halt today and is up 0.280 or 54.369% to 0.795 on Rare Earth RC Drill Results for its Ngualla projects. On massive volume too. Further results expected in the next 3 weeks.

Wow three years and no post , have a look at todays announcement , mine on the way , may see a rerating to previous levels , good volume today but minimal price increase , this should be fixed as selling absorbed

Rocky

 

[NickyDee]

Its a good project but highly dependent on other parties financing it. 'Toss of a coin' since it seems the project is not inherently bankable (such as say a copper deposit of the same quality). I hope it goes well.