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PRS - Prospech Limited

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Another solid announcement on recent REE assays ..... Market liked it ... currently down +17% , lol ......

Should bounce back a little later today but rare earths are certainly not the flavour of the month.

The market will eventually catch up to this battler .... $7M market cap with what looks a tidy REE deposit taking shape

Have accumulated a reasonable holding now and happy to hold.

ps Only 10% down as I type ..... probably end up back in the black by the close, lol

 
Just on a month since I last posted. Behaving as expected since cap raise. Sell side is getting very thin. The punter in me says it won't be long before we jump the creek back over .035 .....if good new arrives as hoped, + .040 looks a high possibility in the medium term. All in my opinion of course.

 
barney said:
.....if good new arrives as hoped, + .040 looks a high possibility in the medium term. All in my opinion of course.
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Another excellent Ann yesterday on REE assays ...

This little battler is ripe for a re-rate (imho of course )
 


So far so good with the last assessment. It did jump the .035 creek and is now back above .040 as hoped.

That high Range high Volume bar back on 5th September has always had me a bit puzzled. The recent price action is so far explaining it. It does need to break the .045 with some gusto and hold above it to "prove the move"

Current Volume is only modest, so given the excellent recent REE results, there is every chance this will meander on higher in my humble opinion.

If we get established in the "Range of Interest" area, the high Volume high Range Pin Bar back on 14th June last year at .063 will be the serious acid test.

Its Spec-land and we live in hope




 
Failed Break
Cap Raise
SP retreated back to CR price

Pretty much as expected in the current climate for an early stage R/E Spec Stock

Back under the CR price would be a negative. Breakout above current Range required to show some strength.

Ground hog day for the moment.

 
March monthly Comp pick (again).

Lots of pending assay results should be close ..... plus they will finish drilling the Tailing Storage area this month. If that produces good drill results, it has the potential to derisk the project exponentially.

 
A little positive SP movement today. Tightly held this little fella so any good news has the potential to create some waves.

Chart below is the same chart I posted above, and the "current Range" is still in play. The swing lows/cap raise area has held up well and hopefully formed a base.

Currently right in the middle of the recent Range ... All we need are some red hot REE grades from the latest drill results which give us a valid Resource assessment, and hopefully the market might get a little interested. Patience is a virtue they say.



 
The boys keep delivering great results .... Not much market action given the strength of the assays but all in good time.

 
Chart musings. That high Range Bar back on Sep 5th last year is still to be overcome/explained ... The .043 level has to be breached and hold as Support before a possible next leg can form.

Currently holding above that level but on very modest Volume so no cheering at this stage

 
Still chugging slowly.

Must be close to a JORC on the TSF drilling ......

Expecting good news flow over the next few months, but we will need a serious CR at some point to get this on the map.

Definitely a sleeper with big potential if things go to plan.



The Seagulls are only small but they are starting to peck again

 
barney said:
Have no fear El Capitaan ..... PRS will have it's day in the Sun .... I will continue to accumulate from this point in time.
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The good Captain (@Captain_Chaza ) can theoretically no longer see my posts since he threw me to the sharks, lol

I suggested to the Captain that PRS was an "accumulate" back in October 2023, when he was suggesting he was "sad" for my strategies.

Anyway, certainly not trumpet blowing ... but PRS has always appeared an undervalued Spec to me, so I have accumulated as planned.

Currently they are starting to progress as hoped ... The wheels may well fall off ... it is a Spec of course, but as they say ..

No guts no glory at the Spec end of the market.

Currently living in hope

 
Cant argue with the results they are getting. The grades show the Tailings Storage Facility has even more resource than initial sampling suggested.

Market not particularly interested in today's Announcement but that's nothing unusual. Tightly held with minimal Supply just above the current mid 4's level.

There are still a lot more assay results to come in from previous drilling before we even need to start drilling fresh rock. That previous drilling would have cost around $16 million according to the MD, so the Company is essentially building a good looking resource for the cost of Assays! Pretty handy pickup given their Market Cap is still only $13M.

 
PRS is my June monthly pick ... It is also my own personal "2024 Spec of most interest" at this point in time. One never knows.
 
barney said:
July Monthly stock pick. Nearly snagged the coveted wooden spoon last month. The only way is up!.
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indeed it is ... Finland delivering.
up 30 per cent

CEO states: "Systematic sampling of the historical Korsnäs drill holes continues to yield impressive results. We have received over half of the assay results from this sampling and we have taken proactive steps to expedite the remaining assays...."
 
Dona Ferentes said:
up 30 per cent
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Yeah PRS is a bit of a smokey DF ..... Up 29% on $5.5K trading is real Spec behavior. Be nice to see it revisit above 4 cents with some healthy Volume. Plenty of room to move if upcoming drilling/results are as expected. Holding tight.

 
barney said:
Yeah PRS is a bit of a smokey DF ..... Up 29% on $5.5K trading is real Spec behavior. Be nice to see it revisit above 4 cents with some healthy Volume. Plenty of room to move if upcoming drilling/results are as expected. Holding tight.
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and it was traded on chi-X so no leadership / bragging rights in the comp.
 
Ann today ... the lads have secured a $700,000 grant from the European Union for their Korsnas REE Project. Cant complain about that.

Not much price action at the moment ..... early days for this little minnow. (Holding)

 
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