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PRX - Prodigy Gold

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Darryn

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Have been watching this company for a while, started watching at 6 cents, always thought that I had missed the boat. Today the share price has had a correction. down from 14cents to 11.5cents (currently). Now I am wondering if its worth while jumping in at 11 - 11.5cents. The company is awaiting more annoncements.
Any thoughts?
 
Looking strong on the 12 month chart the last few days. Considerable accumulation since early Jan 07. Large buyers v small sellers at the moment. Have taken a punt on them today.. Any views out there?
 
Broker mate told me awhile back that they had possibly discovered a JML type deposit ie VMS (Volcanic Massive Sulphides)

This was when it was 6/7c I thought it was a bit too spec,

Since then it has attracted Insto support including US Insto backing, maybe there is something there?

I'm still watching though from the sidelines :eek:
 
YT you still watching this one-looks to have broken out but not with massive volume.Tempted to pick some up
 
If it holds above the new high tomorrow we have a breakout. The rise in volume today, though small, makes the move bullish IMHO
 
Hi fellow ASF readers,

Does anyone have much info on ABU?? I am a shareholer bought in at 16.5c a few months back, seen it peak as high as 22c but then it dropped back just as fast. I dont intend on selling anytime soon, but was just wondering if anyone else rated the stock??

Its had a bit of activity today, rising to 15c up 7% and with no announcements!

Cheers:D

Business Description
ABM Resources NL (ABU, former Tantalum Australia NL) is a base metals and uranium exploration company. Current focus is on exploration for base metals at the Erayinia JV. ABU changed its principal activities from development of tantalum and niobium projects to base metals exploration in March 2006q.
 
Yeah I would be interested to hear what people have to say about ABU, I was considering jumping in, currently at 17c??? It's been a bit all over the place but seems to be steading somewhat, or that could be me wishful thinking??!
 
Well, i just listened to the exec chairmans interview on the new Mimosa gold project acquisition (51% ABU).

Worth a listen, gives some updates on the suphide project in WA as well:

http://www.brr.com.au/event/ABU/2062/36654/wmp/ucw9g781zq

The gold project looks like it has potential, 3km x 1.5km area that has had no modern exploration on it. Gold has been panned by local artisanal miners for over 20 years. ABU believes there is good chance they will have a significant find here..

Kins stated that there will be more news on exploration next week. ABU may be comming out of hybernation, stay tuned.
 
ann out earlier regarding completion of due diligence on the mou signed with ochre holdings

as to the mou,

...

The Board believes the Agreement with Ochre and the future appointment of Dr Archibald to the ABM Board adds significantly to the potential value of the company. Dr Archibald’s appointment will bring to ABM highly successful intellectual property in exploration, corporate experience and a high-level global network within the mining and financing sector. It is also intended that Ochre will identify and acquire a suite of new projects that, upon successful acquisition, will create a natural resources company of global significance. In the light of this refocus, the Company will also review its portfolio with particular focus on its African exploration assets

...
Click to expand...
aisde from shareholder approval, the mou is ubject to,

...

Ochre successfully acquiring, within 90 days of the date of the Memorandum of Understanding, at least one project on ABM’s behalf on terms that are acceptable to ABM in its absolute discretion;

Ochre successfully securing funding for the project(s) referred to in (b) above and any other projects brought to ABM by Ochre, on terms acceptable to ABM in its absolute discretion; and

...
Click to expand...
consideration is outlined in the ann, including shares and options with escrow periods attached, it is interesting to note

...

The exercise prices and conditions of the Options guarantee there must first be an uplift in the value of the Company before the Options become exercisable.

If all the unlisted Ochre Options were exercised while the current issued capital was in place, then Ochre would hold 565,000,000 ABM shares or 42.89% of ABM. The parties acknowledge that, based on ABM’s current capital structure, completion of this transaction has the capacity of transferring control of ABM to Ochre. This will occur if Ochre exercises all the Options, which will inject up to $7,650,000 in new equity funds to ABM

...
Click to expand...
cheers :)
 
Up almost 50% this month. A few days of huge volumes this week, surrounding its announcement concerning drilling results. Has anyone been following this stock at all recently?
 
Kremmen said:
Up almost 50% this month. A few days of huge volumes this week, surrounding its announcement concerning drilling results. Has anyone been following this stock at all recently?
Click to expand...

Please check tipping competition and Astrostuff thread.

You would get interesting comments and the recent spike is astouding by any standard.

But I do not know about this stock and only assisting you to refer previous references.

Sorry to write so many words to fill in 100 characters:banghead:
 
Announcement of 19th Aug:

•ABM Resources More than Doubles the Vertical Extent of Gold Mineralisation at The Buccaneer Porphyry Prospect at Twin Bonanza
•Mineralisation confirmed from near surface to depths of >350 metres

Hole BCRC100010:
271 metres grading 0.54g/t gold (0.1g/t Au cut off) including
• 153 metres grading 0.85g/t gold (0.3g/t Au cut off) including
o 80 metres grading 1.17g/t gold (0.7g/t cut-off) including
o 47 metres grading 1.71g/t gold (1.0g/t cut-off).
Hole BCRC100008:
297 metres grading 0.45g/t gold (0.1g/t Au cut off) including
• 123 metres grading 1.04g/t gold (0.3g/t Au cut off) including
o 48 metres grading 1.28g/t gold (0.7g/t cut-off) including
o 15 metres grading 2.92g/t gold (1.0g/t cut-off).

Shaping up as a nice bulk-mining target, shallow enough for an open-pit IMHO
 
ABU might be worth keeping an eye on again.
Just a bump as there was a good volume traded today so it came to my attention.

27-04-2011 9-45-05 PM.png

POG would be helping, and they have embarked on a bit of a serious drilling program.
Further, their chart looks interesting, with a 2 year high becoming closer, a decent upwards move at the moment. Not exactly a roarer, but if anyone has any historic insight then that would be of interest. I have made a small entry...

ann 27th april.png
 
Looking good! ABU should be trading at 10c with current gold reserves of 1.7 mill! Aggressive drill program should bring good news soon.
 
Stockman2678 said:
Looking good! ABU should be trading at 10c with current gold reserves of 1.7 mill! Aggressive drill program should bring good news soon.
Click to expand...

I would like to bring this stock to any holders' attention that aren't watching closely.
In anticipation of drilling results, the price action has been very positive particularly as a lot of the goldies have been coming off.

chart 17may.jpg

I noticed it had a large volume traded today relative to other stocks, and I have no idea whether it will keep on going but be careful of a bolt for the door when any news is posted. I am a holder and don't intend to jump ship as I am convinced there is more here, but the run has been solid and it seems a bit too good to date.

Wait til it goes parabolic I guess !?
 
Things are starting to look interesting out at twin bonanza.
This should significantly increase their resource estimate.
Interesting couple of months ahead for this who are interested.


"ASX ANNOUNCEMENT / MEDIA RELEASE ASX:ABU
31st August, 2011
2 metres averaging 413.5g/t gold within
6 metres averaging 140g/t gold
ABM Resources NL (“ABM” or “The Company”) is pleased to announce further drill results from the Company’s Twin Bonanza Gold Camp Project.
• OPRC100021 partial results at the Old Pirate Northern Extensions return:
 6 metres averaging 140g/t gold including: • 2 metres averaging 413.5g/t gold.
• Remainder of hole OPRC100021 and five other holes from Old Pirate Northern Extensions pending assay.
Managing Director of ABM Resources, Mr Darren Holden, said “These very high-grade assay results are from the drill interval with the visible gold recently reported at Old Pirate. This is the second interval of bonanza grades that we have intersected in limited drilling to date, which, when taken with similarly high-grade surface samples and other drill results, bodes well for the potential of the Old Pirate Prospect. This zone extends Old Pirate to the north of previous drilling and also extends the system at depth. We look forward to bringing you further results as soon as possible.”
Old Pirate High Grade Gold Prospect & Northern Extensions
Hole OPRC100021 is located approximately 150 metres farther north of OPRC100005 which in 2010 intersected 5 metres averaging 274g/t gold (Figure 1 & refer to release 27/07/2010 for further details). In addition, a surface rock-chip sample on the recently drilled section recorded 95.5g/t gold (Figure 2). Drill
Old Pirate Northern Extensions High Grade Drill Results –

results from OPRC100021 are shown in Appendix 1. These results are from the same section where the Company recently reported visible high grade gold.
Mineralisation at Old Pirate is hosted by veins within folded sandstone and shale sediments. A diorite intrusive body has recently been recognised at depth and appears to focus mineralisation. The Old Pirate Prospect is noted for its coarse grained particulate gold and the Company uses a combination of standard fire-assay and screen-fire assay to test for this gold. This gold is distributed throughout a series of quartz veins ranging from centimetres to several metres wide and is defined by drilling and surface mapping over an area of 600 metres by 250 metres. Overall the Old Pirate Prospect sits within a 3 kilometre long regolith geochemistry anomaly. ABM is testing various parts of the 3 kilometre Old Pirate trend this year.
ABM is also in the process of getting the two high grade pre-split samples (approximately 20 kilograms each) transported to Perth for full metallurgical testing which will extract the gold from the samples and provide a further result for this high-grade gold section.
Figure 1. OPRC100021 E-W Cross-Section on 7768120N.
2
Figure 2. Old Pirate Map view showing OPRC100021, OPRC100018 and OPDD100001 locations. Hole OPRC1000019 located ~200m further south from view. Refer to previous releases for historic and 2010 drill result details.
3
Further follow up drilling is planned for Old Pirate this year. In addition, approximately 250 metres of the targeted 1000 metres of the longitudinal bulk trenching program has been completed with results expected shortly. The longitudinal trenching is designed to test the average gold grade of the veins at the surface ahead of possible resource estimation work.
Other Results
Drill-results have been received and compiled for other holes (Appendix 1). Preliminary results from Old Pirate Southern Extensions include significant results from OPRC100018 with:
• 2 metres averaging 5.66g/t gold (0.3g/t cut off) including: o 1 metre averaging 10.65g/t gold (1.0g/t cut off).
• 8 metres averaging 1.05g/t gold (0.3g/t cut off) including: o 1 metre averaging 6.02g/t gold (1.0g/t cut off).
• 16 metres averaging 0.64g/t gold (0.3g/t cut off) including: o 1 metre averaging 1.54g/t gold (1.0g/t cut off).
Selected samples from the Old Pirate drilling, including hole OPDD100001 where visible gold was sighted, are being returned to the laboratory for screen-fire assay methods to test for coarse particulate gold.
The Landlubber target located to the west of Old Pirate consists of an arsenic anomaly 2 kilometres long with no surface outcrop. Drill assays returned generally low-grade values with 1 metre at 3.44g/t gold being the peak value in LLRC100001 from 236 metres. However, two of the six holes at Landlubber (LLRC100001, LLRC100004) intersected a medium grained intrusive rock thought to be comparable to the Buccaneer Porphyry body and further work is on-going for targeting in this large anomalous area. One hole reported to date from the Bandit Prospect BTRC100001 showed principally broad zones of anomalous gold with a peak value of 0.12g/t gold from 89 metres.
The back-log of samples in the laboratory is being cleared and further results from Twin Bonanza, as well as the Company’s regional projects such as Kroda and Lake Mackay are expected shortly."
 
Further good drilling results to add to stockman's post,

ASX ANNOUNCEMENT / MEDIA RELEASE ASX:ABU
7th September, 2011

Old Pirate Northern Extensions

Further High Grade Results

ABM Resources NL (“ABM” or “The Company”) is pleased to announce further drill results from the Company’s Twin Bonanza Gold Camp Project.

New zone identified in OPRC100021 with:
 5 metres averaging 13.34g/t gold including:
• 3 metres averaging 21.85g/t gold.

• Also in OPRC100021 previously reported high-grade zone
(31/8/2011) is widened with further results increasing overall
intercept to:

9 metres averaging 100.9g/t gold including the previously
reported:

• 2 metres averaging 413.5g/t gold.

Darren Holden, Managing Director said, “Further results once again emphasise that Old
Pirate is a series of multiple lodes with some very high grade gold distributed throughout
the system. These latest results include 5 metres averaging 13.34g/t gold which are
projected to possibly link through to a 95.5g/t gold rock chip sample collected at the
surface and have also increased the width of the mineralised high grade zone recently
reported. The newly recognised mineralisation at the Old Pirate Northern Extensions is
open both along strike and down dip.”

Abu has not broken above previous recent highs, but is looking solid and has had some large volume on this news. Looking for a break of 5.6c, then it is on.
 
Another great Day for ABM resources, up over 11%. With over 14000 meters of drill samples in the lab, there should be a flood of announcements over the coming weeks ahead.
 

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