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PSP - Prosperity Resources

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I really like this stock and have been researching it and l think there is plenty of upside. I think we have to look at the top 20 very closely as to why it is so illiquid and bushman has made a great point. 5% is held by Thorney Holdings these guys are absolute winners they would not get into anything that would not make them money. Yes Thorney is Dick Pratts (3rd richest in Australia and runs the largest private company in Australia) investment vehicle but it is run by his son-in-law and is a very successful businessman. To me if these guys are in especially at 5% of total stock holding this is one to watch if not hold. Look out for the upcoming announcements as l can smell success in the air. After looking at the fundamentals and now knowing the winners are holding this stock l will be getting in even if the stock jumps 10% on Monday. ONE TO WATCH!!!!!!!
 
some of these resource stocks are getting into bargain basement areas.PSP down to 12c today...glad i didn't buy monday. So many choices ??? and so little cash !
 
Bushman

Belated thanks re top 20.

Good sign re Thorney Investments, imo.

Look what happened to IMI last month (and Pratt a shareholder of IMI).

If PSP can do as well, holders will be very happy.

Current price 13c. Got to 12c yesterday!
 
moneymajix said:
Bushman

Belated thanks re top 20.

Good sign re Thorney Investments, imo.

Look what happened to IMI last month (and Pratt a shareholder of IMI).

If PSP can do as well, holders will be very happy.

Current price 13c. Got to 12c yesterday!
Click to expand...

12c on no volume. Some just want to sell at the moment no matter the share or cost. How else do you explain every share being in the red on the ASX 200 yesterday irrespective of the underlying company and its fundamentals. That was quite something to behold.

Cannot see this one moving without an announcement in these nervy times.

Qrt report looked good. Thorney in the the top 20. Still sticking to my longer term horizons. If the Dow keeps tanking and the panic keeps spreading, who knows what the next few weeks will bring for this share? It has such low volume that panic hits it hard just as good news will get it running. Gritting the teeth and holding. Not much choice at the moment.
 
Does anyone know about the 3m shares that were traded yesterday on this one? The trade occurred before the market opened.
 
jump of 37% at one stage today...sounds great but the total volume was only 12,000 shares at this point.Still we finished the day 25% higher. Hope the market can stay steady for stocks like PSP to catch up.
 
POD

Re Does anyone know about the 3m shares that were traded yesterday on this one? The trade occurred before the market opened.


No replies!
 
Iron Ore Majix

Up over 20% to 10.5c


Chart might be nice


Is this the next small cap. iron ore co. that is going to see some substantial rises?
 
Current sp - 9.5c

Expect some results in 2 weeks from Tennant Creek re Electromagnetic survey.


See Ann. in September
Surveys Commence on Priority Targets
At Tennant Creek Goldfield, North Territory
 
moneymajix said:
Current sp - 9.5c

Expect some results in 2 weeks from Tennant Creek re Electromagnetic survey.


See Ann. in September
Surveys Commence on Priority Targets
At Tennant Creek Goldfield, North Territory
Click to expand...
Besides their NT prospects, PSP also has some interesting iron ore projects. PSP is also cashed up following a recent placement. This stock is on my watch list.
DYOR
 
You watching, Greggy?

This has moved from around 8-9c yesterday.


12c now, Up another 20% today.

Hit 13c at one stage.


Someone fascinated with charts may like to post one.

May show a change for the better.

 
movement today again..I'll take apunt and say ots Iron Ore related
more info on :

Prosperity Resources Limited (ASX: PSP) and Mawson West (ASX:MWE) are pleased to announce results following a recent detailed mapping programme on the Woolshed Prospect as recommended by Hematite Consultants.

Present indications show a potential exploration target size of approximately 50-60MT of prospective DSO.

Prosperity Resources Ltd’s Managing Director, Mr Ric Dawson said “This detailed mapping programme, which is testing an area with a strike length of 4 kilometres, will now progress to
drilling to test from iron enrichment at depth.” Follow up iron analysis results from the mapping programme should be released in about two weeks and in the coming quarter RC drilling will commence after sourcing a suitable drill rig.
Mr Dawson said, “With close proximity to Gindalbie Metals Ltd’s Karara Iron Ore deposits, Mt Gibson Iron’s Extension Hill deposits and the existing road infrastructure, the prospectivity for this area is significant.”
 
moneymajix said:
You watching, Greggy?

This has moved from around 8-9c yesterday.


12c now, Up another 20% today.

Hit 13c at one stage.


Someone fascinated with charts may like to post one.

May show a change for the better.

Click to expand...

Yes, I certainly am Moneymajix. Punters out there are looking for the next iron ore stock to move. PSP also offers potential (mainly on the gold front) at their recently acquired NT leases. Throw in the fact that its once again cashed up and you have a stock that has been overlooked by the market.
DYOR
 
From a poster on one of our sister forums on 11 Oct;


...
As far as Mt Gibson access to RC drill capable of drilling iron ore
projects are very scare at the moment but the company is endeavoring
to source ones continuously to start drilling

In November additional magnetic surveys at Wooshed and Mummaloo will
be flown and results will be reported shortly after that has occurred
 
Just clicked on my holdings/watchlist and thsi has gone up 20% in a matter of minutes,anyone know whats going on.Just a quick update and apologies for getting over excited,another 100K or so gone throught and there is one solitary bid at the top for 500KEdit make that 2 bids totalling 700K and only 700K on the sell side-admitedly at much higher price though
 
big day on volume for PSP.I'm used to seeing no trades before lunchtime and volumes below 100 K. Sell side always looks thin so todays action is interesting.maybe the results of the fly past ?
 
The money's on resources

A CREDIT crunch is under way around the world for anything that smells of property, but it seems the wallets are still open for resources plays.

Prosperity Resources has completed a $3.8 million placement to one British and two US institutions. The money is being used to pay for a tenement package in the Tennant Creek goldfield, where the company will be looking for copper-gold.



From Bromby in the Australian on 5 November.

Might explain recent interest.

12.5c.
 
Media Release/ASX Release
17 December 2007

Surveys Commence on Priority Targets
At Mt Gibson Iron Ore and Warriedar Prospects,
Western Australia and Secures RC Drill Rig

Prosperity Resources Limited (ASX: PSP) is pleased to announce on behalf of the
Payne’s Find Joint Venture with Mawson West Ltd (ASX: MWE) that it has
commenced a close spaced 50 metre aeromagnetic and radiometric survey over 3
priority magnetic anomalies in the Mid West of Western Australia.
The Woolshed Prospect is partially exposed with large areas of banded iron formation
(‘BIF’) outcrop but large sections are overlain with an unknown thickness of alluvial
cover and this new survey will provide greater confidence in selection of suitable
drilling sites for the upcoming RC drill programme.

The Warriedar and Payne’s Find Prospects are also being flown with close spaced
aeromagnetics to further define the major geological structures in the areas which are
thought to be prospective for both gold and iron resources.
With previously released rock chip samples of enriched BIF grading in excess of 55%
iron at both the Woolshed and Warriedar Prospects, the Company is now seeking to
determine the third dimension by drilling these prospects.
It has been to the Company’s frustration in obtaining the services of a suitable RC drill
rig with the required depth ability and penetration into these BIF’s over the past
quarters due to the current high drill rig utilisation of the RC drilling rig contractors.
The Company is delighted that it has now secured the services of Colby Drilling
Company to provide RC drilling early in the next quarter to drill these priority targets.


8.7c!
 
Any ideas on the following announcement today from MWE will have on PSP SP if they hit some decent ore?

Woolshed JV – (PSP earning 60%)

Prosperity will drill two iron ore exploration targets during the current quarter; a 50-60Mt target at the Woolshed prospect and a 96-120Mt target at the Warriedar prospect.

Woolshed Prospect
This prospect was assessed by Hematite Consultants and a detailed surface mapping and sampling programme completed. The core exploration target defined by the assessment and subsequent mapping and sampling has been identified with dimensions approximately 2500m by 500m and then open under cover to the south west. The thickness of the enriched portion of the banded iron formation (BIF) cannot be proven by surface mapping alone, but is estimated to be 30-50m.

Based on an inferred enriched width of 50m, an assumed depth to 150 metres and an 3 assumed bulk density of 3t/m , an exploration target of between 50 and 60 million tonnes of iron ore material is to be drill tested.

Further detailed mapping is planned to assess a south west extension to the zone. The surface exposure of the iron formation has been mapped over a strike length of 800m; aeromagnetic interpretation infers a total strike of 2.5 km.

Warriedar Prospect
Rock chip sampling and reconnaissance mapping of this prospect has defined an exploration target in the order of 8000m by 500m in size. Based on an inferred enriched width of 40-50m, to an arbitrary depth of 100 metres and an assumed specific gravity of 3, gives an interim exploration target of 96-120 million tonnes of iron ore material.
 
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