PRS - Prospech Limited

[System]

Prospech currently owns 81%, and has rights to acquire the remaining 19%, of highly prospective exploration licences in the Hodrusa-Hamre/Banska Stiavnica mining district and the nearby Nova Bana goldfield of Slovakia where more than 1,000 years of historical production is estimated to have totalled 2.4 million ounces of gold, 120 million ounces of silver, 70,000 tonnes of zinc, 55,000 tonnes of lead and 8,000 tonnes of copper.

It is anticipated that PRS will list on the ASX during July 2017.

https://prospech.com.au

 

[Dona Ferentes]

Prospech opened at a 10 per cent premium to its float price in its ASX debut.

Shares in company exploring for gold and silver in Slovakia were sold at 20¢ each, raising $5 million.

Now 22c

 

[barney]

Shares in company exploring for gold and silver in Slovakia were sold at 20¢ each, raising $5 million. Now 22c

Been a slow start for this little battler. Currently trading at around 14 cents

Had a bit of a read of their prospects (no pun intended) and I have to say, impressive looking ground they are drilling in (Slovakia)

Slovakia is very mining friendly with excellent infrastructure etc.

This one is well up the list for a potential medium term accumulation trade

Market Cap just a measly $12 million and they have +$4 million in cash to complete the current drilling announced on 14th May

Will update research as I go, but this looks more than a little interesting after a quick read

 

[barney]

Interesting little Company this one.

Very little Trader interest (best time to accumulate)

Great looking Projects (will get to those at some point)

The Managing Director sounds switched on to me

Technically, that big pin-bar has me interested

Low MC with Assays in the pipeline + fresh drilling just started

Enough cash to carry on for the medium term.

Personally looking to try and pick up a couple of handfuls while it wobbles around at the lows

 

[Tommy Shelby]

I'm pretty cynical when it comes to mining speccies mostly because they're outside of my expertise. However this looks like it might be worth a punt and I'm curious.

They tried to list in 2017 at a market cap of $20m but then pulled back to list now in 2021. It doesn't seem like they have done much in that time and I recall reading somewhere that they drilled about 5,000m around 2017 but didn't really find anything substantial.

My main (stupid) question is how many drill holes do you need to certify a resource? They're doing between 4-6 holes per prospect which doesn't seem like much to me but I could be way off.

If someone with more experience/smarter than me would care to chuck in their two cents that would be much appreciated

 

[barney]

My main (stupid) question is how many drill holes do you need to certify a resource? They're doing between 4-6 holes per prospect which doesn't seem like much to me but I could be way off.

Howdy TS. Jason Beckton openly states he is looking for big strikes. The minimal drilling is trying to isolate the areas with the most potential before they get serious with larger drilling campaigns. That gives them most bang for the buck.

The last assay results for "Zemplin" should be close. Recent drilling struck some interesting results down to the 100 mtr level so there is definitely some potential there.

I like the fact they only have about 90 million SOI and have enough Cash to complete all the upcoming drilling campaigns into 2022

Chart is ticking up from the Lows on tiny Volume which is a lot healthier than ticking down

Any sniff of good upcoming drill results, its not hard to see this moving higher.

I grabbed a couple of starter packs last week. Hopefully they might turn into a happy meal

 

[barney]

They appear to be honing in on the Silver etc

Very little day trader interest on this one so I doubt the SP will do much even though its a positive result

A further drill plan will be announced once all results are in (Holding)

 

[Tommy Shelby]

Thanks Barney, same appeal for me in terms of drill program being fully funded. worth a punt in the personal portfolio and good result at Zemplin

 

[Tommy Shelby]

Assay Results for Zemplin

 

[barney]

Assay Results for Zemplin

Thanks T-S

Interestingly, CommSec somehow managed to not even mention on their website that PRS had a price-sensitive announcement

I note various other anomalies recently on the C/sec website. Given their "premier" status, it's a pretty poor effort.

Anyway, no trades again on PRS even though they continue to find Silver at Zemplin

Unusual, but given the market weren't informed very well, maybe tomorrow might see a little interest?

 

[Dona Ferentes]

Thanks T-S

Interestingly, CommSec somehow managed to not even mention on their website that PRS had a price-sensitive announcement

I note various other anomalies recently on the C/sec website. Given their "premier" status, it's a pretty poor effort.

Anyway, no trades again on PRS even though they continue to find Silver at Zemplin

Unusual, but given the market weren't informed very well, maybe tomorrow might see a little interest?

Got it now; not sure it's CommSec's fault.

 

[barney]

Got it now; not sure it's CommSec's fault.

Yeah I may be wrongly accusing CommSec D-F, although the Market Data website (Price Sensitive Ann ) had the Announcement listed on time today so it looks like a miss from C/Sec

 

[Tommy Shelby]

This is going well...

 

[barney]

This is going well...

Lol ... I shouldn't laugh cause I still own them.

Apart from the price of Silver not being particularly strong at the moment, I am slightly bemused as to why this is languishing so badly

Given I can't find a definitive answer, and nothing has essentially changed re why I bought some in the first place

I have actually purchased more on the way down

Yes its the Spec punters curse ... averaging down, lol.

 

[barney]

Interestingly, CommSec somehow managed to not even mention on their website that PRS had a price-sensitive announcement

So PRS have another Price sensitive Announcement out pre-open this morning and again no mention of it on the PRS/Commsec price page

I have no idea whether it is the Companies or Commsec's slip up, but somebody is shooting themselves in the foot on a regular basis

Given PRS share price performance, it is definitely "wake up Jeff" time for someone

 

[barney]

ANN:

 

[Tommy Shelby]

Given I can't find a definitive answer, and nothing has essentially changed re why I bought some in the first place

I was assuming the general consensus was no news is bad news - but then no movement since yesterday's announcement. Are they able to keep drilling in winter or do they have to shut down?

 

[barney]

I was assuming the general consensus was no news is bad news - but then no movement since yesterday's announcement. Are they able to keep drilling in winter or do they have to shut down?

Unsure to be honest @Tommy Shelby

I basically trade by feel so I could easily have this one wrong

But I like the vibe of the Company.

I also like the fact that the Chart looks to be bottoming,

But there is still potential for a bigger result if the ducks start flying straight , lol ?

ie. A punt with low risk at the Spec end of the market = my kind of punt.

PS. PRS is my monthly comp pick this month (Holding)

 

[barney]

One could rightly ask, "who would be buying this chart" lol

Its not quite a 'flying horse tail' trade (my Forex days) however, it could easily turn into a "big W" trade

I accumulated more at 081 and 082 with the above in mind. Basically there are very few Sellers left. It will turn at some point but patience is often required

Just for reference. Approx $5 million market cap. Cash of $2 million + whatever options were exercised Speculation that could be another $1million, and about 90 million SOI

I imagine a CR in about 6 months, but also expect some movement North well before that. We shall see if my balls turn to crystal

 

[barney]

Still well under water with little fella, but that is the nature of playing with unknown Specs of course

Tight register and some nice Projects ..... I'm happy to sit tight.

I expect back above 10 cents before the end of this year. We shall see.