Australian (ASX) Stock Market Forum

PRS - Prospech Limited

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Rose coloured glasses affixed .....:cool:

Still holding to my prediction of above 10 cents before the end of 2022 ;)

Low risk trade assuming a medium/longer term hold. (in my view)

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$4.5 million market cap with $1.645 million in cash at the end of the last quarter. The company only burnt through $339,000 last quarter.

Interesting play.

There will be a capital raise at some point, but management will be looking to get some runs on the board before they do so.

Here's what they have planned:

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greggles said:
Interesting play. There will be a capital raise at some point, but management will be looking to get some runs on the board before they do so.
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As always @greggles , a perfect assessment on your part :cool:

I know/knew the boys would be running low on cash soon. At the Spec end, often cash requirements are foreshadowed with a little "price appreciation"!;)

Bottom line, the lads certainly have some Very interesting prospects (good name for a company, lol)

But they need cash to continue.

Today's price action is obviously not something to get excited about, but for the large holders of the Company, a price push before raising capital, seems totally "normal"

The million dollar question is .... How confident are the Major Shareholders. If the SP is being pushed up in preparation of a CR, will the majors support said CR?

PRS is a tightly held register with a generally no-hype management. I hold and watch with interest:geek:


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Boom! And we're off to the races. PRS up 176% so far today after announcing that it has identified high grade rare earth oxides over 4km strike at its Jokikangas Project in Finland.

Grades look very good. Very impressive overall considering the company's small market cap.

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Interesting and informative video:

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frugal.rock said:
Still holding B ?
Big run today...
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Yeah still holding a handful of these Rock.
Bought quite a few at much higher though, but not complaining about the price action today at all :cat:

Tiny market cap so it will be interesting to see where the SP settles.
 
barney said:
So far not settling too well :inpain:
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After time extension, the Rights Issue at $0.02 per share has closed and raised $1.1 million (before costs).

.... received applications from eligible shareholders to subscribe for 28,401,856 new Shares under the Rights Issue and Over Applications for additional Shares in addition to the eligible shareholder entitlements.

After scaling back the Over Applications, in accordance with the underwriting and sub-underwriting arrangements, the Shortfall Shares will be issued to the Underwriter and sub-underwriters on Friday, 28 April 2023 and will commence trading on a normal settlement basis on Monday, 01 May 2023.

In addition and as announced on 17 March 2023, the Company has received firm subscriptions to raise approximately $1.5 million (before costs), via a placement to professional and sophisticated investors of approximately 75 million new ordinary shares in the Company at an issue price of $0.02 per share, together with approximately 37.5 million options, being 1 free attaching option exercisable at $0.04 and expiring two years from the date of issue for every 2 Placement Shares subscribed for and issued.

So .... some money in the till at about $2.5mill, to be spent on both Finland and Slovakia. ..

Market action will be interesting, will there be a scramble or a bit of profit taking?
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Dona Ferentes said:
So .... some money in the till at about $2.5mill, Market action will be interesting, will there be a scramble or a bit of profit taking?
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Stock has always had a very tight register which is one of the reasons it has meandered in the doldrums for so long.

I'm hoping the extra Shares soon to be on market, will give the stock a bit more liquidity, and make the price action more readable. Up until now, it's been a pure punt to buy in. (Which I have :jimlad: )

In the short term, the Underwriters could push this whichever way they want once the new shares hit the market, but the optimist in me suggests it will get a bit of a bump leading into the next round of results. Good results would be "pleasant" for we long term holders/sufferers, lol.
 
barney said:
Good luck DF ..... I'm on your team!! :happy:
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I'm just the orange boy, barney.

Clearly early days at the recently acquired Jokikangas project in Finland
  • old drill core returned intercepts over a strike length of 4km
  • Sampling was limited to very narrow intervals for academic purposes
  • has started sampling wider intervals of the Jokikangas drill core, which includes 36 diamond drill holes at Jokikangas and 68 diamond drill holes at Korsnas.
Korsnas surrounds a former lead mine, where previous operators reported total REE content in samples ranging from 0.7% to 2.2%, PRS says.

... all sounds too good to be true. At least there's a bit of money to have a poke around, figure out what they've got, and work up a plan . Then back for more capital?!
 
frugal.rock said:
Barney, I think DF is telling us he is a member of the Rajineeshee clan.
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Interestingly when I was a younger sprout living in Sydney for a while, there were quite a few of the Orange people frequenting the streets. I have no idea what they were promoting, but I wasnt overly keen on there dress code. Plus orange clashes with my eyes:kiss:
 
barney said:
the optimist in me suggests it will get a bit of a bump leading into the next round of results.
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Directors stumped up a few bob in the recent cap raise. Seems to have initiated a bit of trading. The mood seems positive given a pretty ordinary market day in general.

Definitely not handing out "oranges" at the moment @Dona Ferentes I hope you get picked on the "Wing" :happy:

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Not many Options for sale but a few Punters are backing the SP to keep moving down the track a bit.

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frugal.rock said:
Such conjured transvection I have never seen.
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@frugal.rock .... whatever this conjured transvection may be ....

It sounds far too intelligent for this Thread.

For the benefit of myself and any others who appreciate your linguistic gymnastics ..... I looked it up

And I am still none the wiser :dummy1: lol

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And since I am here, I may as well unashamedly promote the recent price action of PRS once again:happy:

Fair to say i think, that the recent Volume looks interesting to say the least.

Its been a long wait :bored:

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