PXR - Palace Resources

[imajica]

just thought it would be useful to start a thread where people could post their views on upcoming IPO's

what do people think of PXR - Palace Resources

 

[RichKid]

Re: PXR- Palace Resources IPO

just thought it would be useful to start a thread where people could post their views on upcoming IPO's

what do people think of PXR - Palace Resources

Hi imajica,
It's been the convention on ASF for awhile now to discuss IPO's under the relevant stock code/name so I have moved your thread to this sub-forum.

Here is some info from the ASX site on the proposed listing: http://www.asx.com.au/asx/floats/UpcomingFloatDetail.jsp?asxcode=PXR

 

[Junior]

What's the deal? Anyone know when trading will begin on this stock?

 

[mick2006]

palace resource (pxr)

Have been doing a bit of research and building up a nice holding in this one has some nice uranium exploration grounds in the N.T. Just noticed today that the market seems to be waking up to this one up 13% with less than 70000 shares left available.

Anyone have any thoughts on this one?

 

[YOUNG_TRADER]

Another option rights issue
PXR

Mkt Structure

Shares
45m fully diluted
Mkt Cap @ 30c = $13.5M
Mkt Cap @ 40c = $18m
Mkt Cap @ 50c = $22.5m

Cash
$3m


Projects

Tanami Uranium, 100%, N.T.
The Uranium licences in N.T. are surrounded by and abut NTU's Tanamai Super project, given NTU's mkt cap $60m+ close to $100m when opies are issued I'd expect PXR to draw a bit of attention when work commences on its Tanami Uranium projects


Marla [/B] Uranium, 100%, N.T.
Not too sure about this one



Lake Teague [/B] Uranium, 100%, W.A.
Not too sure about this one either


Option Rigths Issue
3:4 Option Rights Issue,
Ex Date 22nd Feb, I must buy before 21st Feb being Wednesday to be eligible
Record Date 28th Feb, ie must hold until 28th Feb to be eligbile
Options will be 20c options expiring 30/6/12

Example Hold 134k PXR = Get right to buy 100k PXR @ 1c = $1000

On list If PXR=30c PXRO=10c + premium

Enjoy!

 

[greggy]

Another option rights issue
PXR

Mkt Structure

Shares
45m fully diluted
Mkt Cap @ 30c = $13.5M
Mkt Cap @ 40c = $18m
Mkt Cap @ 50c = $22.5m

Cash
$3m


Projects

Tanami Uranium, 100%, N.T.
The Uranium licences in N.T. are surrounded by and abut NTU's Tanamai Super project, given NTU's mkt cap $60m+ close to $100m when opies are issued I'd expect PXR to draw a bit of attention when work commences on its Tanami Uranium projects


Marla [/B] Uranium, 100%, N.T.
Not too sure about this one



Lake Teague [/B] Uranium, 100%, W.A.
Not too sure about this one either


Option Rigths Issue
3:4 Option Rights Issue,
Ex Date 22nd Feb, I must buy before 21st Feb being Wednesday to be eligible
Record Date 28th Feb, ie must hold until 28th Feb to be eligbile
Options will be 20c options expiring 30/6/12

Example Hold 134k PXR = Get right to buy 100k PXR @ 1c = $1000

On list If PXR=30c PXRO=10c + premium

Enjoy!

Low market cap for a stock with so many uranium leases in the NT, the hot place to be. Thats why I bought into NRU which has uranium leases in both WA and NT. The oppies have a very long expiry date (30/6/12). I'll keep an eye on this one, YT.
DYOR

 

[YOUNG_TRADER]

Thats so funny,

Company revises timetable so that

Ex date = 26th Feb not 22nd Feb

And Record Date = 2nd March not 28th March

And fresh round of buying starts, lol

I guess people only saw the 2nd rights issue ann

 

[YOUNG_TRADER]

I know that its running up on the option rights issue, but still since 37c was previous resistance/all time high, this may have broken out into a new channel?

Unsure as buy depth at 37c ain't exactly huge, will have to wait and see

 

[swerve5000]

hi,

im new at this, so be gentle!

assuming no changes to fundamentals/ta, i cant see why shorting this stock after the holding date for the options issue passes is a bad idea.

havent made any cfds yet, but was thinking about having a go at this.

cheers,

mike.

 

[bvbfan]

I don't think this stock is available on CFD to short anyway.

Too small

 

[YOUNG_TRADER]

LOL no way you'd be able to find CFD's on PXR

But looks like late/last minute buyers are coming in,

Funnily enough it has so far (ie only 2 days so far) held above previous high of 37c,

No doubt the U grounds next to NTU are the value drivers here, I wonder since Areva beat Mega to the JV with NTU, if Mega are taking a look over at PXR, I wouldn't rule it out because Areva wanted in on NTU's Gardiner/Tanamai 'Super Project' and PXR's grounds are next to (literally) this.

So hey Mega take a look over here!

 

[Sean K]

No doubt the U grounds next to NTU are the value drivers here, I wonder since Areva beat Mega to the JV with NTU, if Mega are taking a look over at PXR, I wouldn't rule it out because Areva wanted in on NTU's Gardiner/Tanamai 'Super Project' and PXR's grounds are next to (literally) this.

So hey Mega take a look over here!

YT, is their tenament in a channel of the same sediment or just next to? This would be important to know I think. Sean

 

[dubiousinfo]

Today is the last day to buy for anyone wanting rights issue of 20c Opies @ 1c as it goes ex on Monday. Plenty of intrinsic value in this one, will be interesting to see how it goes on Monday.

I hold.

 

[YOUNG_TRADER]

Lots of very large buy orders popping up, if they want to get filled I reckon they'll have to go as high as 40c,

Kennas not sure, take a look at where they're Tanami projects are, use grid references as I did, then take a look at NTU and compare grid refernces, from memory it was on the Lower right side of NTU's Tanami Super project

 

[dubiousinfo]

This is really starting to get interesting, now trading at 40c with no real resistance and very little in the sell depth.

 

[YOUNG_TRADER]

Lots of very large buy orders popping up, if they want to get filled I reckon they'll have to go as high as 40c,

And those 2 big 200k and 250k @ 38c are yet to move up and try get filled

 

[YOUNG_TRADER]

From what I can tell those big orders dropped off screen and have been coming on in chunks taking out sellers,

I don't think all 450k has been filled so the question is with 1.5hrs till close, how far up will they go to get filled?

 

[YOUNG_TRADER]

Well they keep coming on and taking out any big sellers, ie 100k ordes get chomped up

1hr to go

 

[YOUNG_TRADER]

Well PXR like some got absolutely smashed post rights during correction, from 45c down to 20c now,


RM Research have just released a report comparing PXR to NTU,

Worth a read http://www.palaceresources.com.au/reports/news-articles.html
2nd Report


Investor interest is likely to remain high with companies such as Northern
Uranium (ASX: NTU), who hold adjacent uranium tenements to Palace in the
Tanami Complex, is likely to remain high. Notably Palace’s undiluted market
capitalisation is only around A$12m compared to A$66m (undil) for NTU.


CONCLUSION
The presence of multiple radiometric anomalies supported by anecdotal evidence from previous explorers in the Tanami of additional unreported (and possibly unrecorded) uranium anomalies suggests that the prospectivity of these tenements is under-rated. The market interest in uranium and investor interest in nearby Northern Uranium (ASX: NTU) suggest that market interest in Palace is likely to build as exploration moves into gear.

 

[nizar]

Well PXR like some got absolutely smashed post rights during correction, from 45c down to 20c now,


RM Research have just released a report comparing PXR to NTU,

Worth a read http://www.palaceresources.com.au/reports/news-articles.html
2nd Report


Investor interest is likely to remain high with companies such as Northern
Uranium (ASX: NTU), who hold adjacent uranium tenements to Palace in the
Tanami Complex, is likely to remain high. Notably Palace’s undiluted market
capitalisation is only around A$12m compared to A$66m (undil) for NTU.


CONCLUSION
The presence of multiple radiometric anomalies supported by anecdotal evidence from previous explorers in the Tanami of additional unreported (and possibly unrecorded) uranium anomalies suggests that the prospectivity of these tenements is under-rated. The market interest in uranium and investor interest in nearby Northern Uranium (ASX: NTU) suggest that market interest in Palace is likely to build as exploration moves into gear.

YT, this one looks good, and youd think at this market cap its hard to go wrong (though iv seen SAU at this market for ages b4 it bolted and EVE much the same) but id like to see it turn and volume pick up on the rise before doing anything...