PSP - Prosperity Resources

[alankew]

Can anyone shed any light on the course of trades in this today,no trades then 3 come along at once(just like buses or coppers when you are up to no good)
Time Price Volume Value Condition
03:37:09 PM 0.105 5,000 525.00
03:37:09 PM 0.100 70,000 7,000.00
03:37:09 PM 0.095 15,000 1,425.00
Seems a little odd to me,maybe a conspiracy or something more innocent

 

[alankew]

At the risk of getting shot down,I will ask the question again as similair trading today Can anyone shed any light on the course of trades in this today,no trades then several come along at once(just like buses or coppers when you are up to no good).Todays trades
02:44:00 PM 0.110 95,085 10,459.35
02:44:00 PM 0.110 5,915 650.65
02:32:46 PM 0.110 19,800 2,178.00
02:32:46 PM 0.110 35,200 3,872.00
12:07:25 PM 0.110 90,000 9,900.00 x
11:58:15 AM 0.100 99,000 9,900.00
11:55:24 AM 0.110 60,000 6,600.00
11:37:21 AM 0.110 95,000 10,450.00
10:46:04 AM 0.110 5,000 550.00

Seems a little odd to me,maybe a conspiracy or something more innocent

 

[alankew]

Maybe my conspiracy theory was correct,seems like something is up(shares up 9% atm) and is holding above the dreaded 10c barrier,few largish trades sitting in queue atm(all relative i suppose)but number of buyers has ceratinly increased

 

[countryboy]

It is a wee bit strange given a lot of specs have been trading on a dribble like volume over the last month Can it hold 12 c? I doubt it as past history shows a few small 10% gains and the a dive below 10c.Hope I'm wrong and the iron ore story is about to unfold.

 

[alankew]

Got one right at last,ann out,heres the link and a few snippets taken from ann


Due to the high level of interest in the Company’s iron ore prospects and with our proximity
to Mt Gibson Iron’s Extension Hill Deposit and the nearby Gindalbie Metal’s Karara Deposit
(Figure 1), the Company . The is in discussions with potential new strategic investors from the
Chinese steel industryCompany’s Chairman, Mr Mo Munshi, who is based in Beijing,
has had several meetings with these investors and the Company will provide greater details as
negotiations are finalised
this bit is old news but would explain the current interest
exploration target potential of the Woolshed
Prospect of up to 300 million tonnes of iron material

 

[alankew]

Similair trades to when i posted a few posts back,all timed at the same time and same price-one of the trades was a buy of 400k.

 

[moneymajix]

Holding up very well (especially in this market).

16c.

Thought it might pull back as it has on a number of occassions in the past.

 

[moneymajix]

ANNOUNCEMENT

Shougang Agrees to Invest up to 19.9%

The Board of Prosperity Resources Limited (ASX: PSP) wishes to advise that it has reached
agreement with Shougang Holding (Hong Kong) Limited (“Shougang”) to a placement of
Chairman, Mr Mo Munshi said "We are delighted to have attracted Shougang to be a strategic
partner, one of the largest of several Chinese steel mills seeking to make a significant

Proposed Transaction

It is proposed that subject to certain conditions precedent, the transaction would involve:
• Shougang participating in the issue and placement of 30,000,000 Shares at an issue
price of 15 cents each to raise $A4.5m (“Placement Shares”); and
• Prosperity Resources granting to Shougang up to a maximum of 30,000,000 Options
at an exercise price of 30 cents each and exercisable on or before 30 September 2008
(“Placement Options”).



Positive announcement - 18c, up 12.5% (high 18.5c)

 

[alankew]

Have been told that there is the possibility of PSP having phosphates on one of their tenements in the NT.Picked up by Seuss at Shares.com(sorry Joe,but thats my source)Check on the NT minerals website to confirm-low grades but who knows

 

[happytown]

increased volume in prosperity today, ann out re trenching results and drilling campaign to begin at aceh, indonesia, Au-Cu project

trenching results (to a depth of approx 1.5m) incl

...

8m @ 5.39 g/t gold and 0.26% copper
18m @ 4.01 g/t gold and 0.63% copper
38m @ 3.51 g/t gold and 0.41% copper
23m @ 2.26 g/t gold and 0.76% copper
20m @ 6.60 g/t gold and 0.27% copper
16m @ 9.25 g/t gold and 0.12% copper
4m @ 18.30 g/t gold and 0.07% copper
31m @ 1.16 g/t gold and 0.18% copper
91.7m @ 3.65 g/t gold and 0.45% copper
53.5m @ 0.94 g/t gold and 0.12% copper
42m @ 5.46 g/t gold and 0.16% copper

...

sp has increased significantly over past month

cheers

another quality post brought to you by happytown inc

 

[Peanut]

increased volume in prosperity today, ann out re trenching results and drilling campaign to begin at aceh, indonesia, Au-Cu project

trenching results (to a depth of approx 1.5m) incl

sp has increased significantly over past month

cheers

another quality post brought to you by happytown inc

PSP finished the day at 12.5 from prev close of 10c. Surprised wasn't more of a jump in SP - drilling results would appear to be outstanding, in particular 91 m intersection @ avg 3g/t?

Interested to hear others thoughts

 

[Peanut]

my mistake srry, just realised that the results announced today were trenching results not drilling results (as highlighted in Happytown's post for muppets like me!)

 

[jonojpsg]

FAR OUT! Trenching results of 91m @ 3.65g/t are unbelievable are they not?? Given that amount of gold and copper at surface, there must be an absolute truckload of resource there! Will be VERY interesting to watch this over the next few months.

 

[moneymajix]

Share price has made a real comeback to 16c.

Yep, I think could be interesting re results of the current drilling program at Pala Prospect -gold and copper project.





.