PXR - Palace Resources

[YOUNG_TRADER]

Fair enough Niz, I understand your strategy of waiting for liquidity,

Still at 20c looks ridiculously cheap, you'd think Areva and Mega who are big backers of NTU would take a look next door at PXR, especially Mega who didn't get the JV with NTU, especially since PXR is trading at 1/5th of NTU's Mkt Cap atm

 

[YOUNG_TRADER]

The overlooked U explorer with grounds next door to NTU trading at a mkt cap that is about 1/6th of NTU's now!

All it needs to explode will be for Mega or Areva to approach them, high probability of this occuring given they are working next door, I like to call this theory 'nearology'

 

[YOUNG_TRADER]

Fair enough Niz, I understand your strategy of waiting for liquidity,

Still at 20c looks ridiculously cheap, you'd think Areva and Mega who are big backers of NTU would take a look next door at PXR, especially Mega who didn't get the JV with NTU, especially since PXR is trading at 1/5th of NTU's Mkt Cap atm

Fundamentals have not changed, very very cheap mkt cap when compared to NTU next door, depth suggests its ready for a run,

A N.T. U company with a mkt cap under $15m just doesn't make sense!

 

[Sean K]

Chart wise this looks to be turning. Bullish last 3 days. MACD looks VG. As does Stochs. I like it when these things align.

 

[YOUNG_TRADER]

BUY SELL Depth looks even better now, very few sellers, maybe somethings brewing?

 

[Sean K]

Being chased up a little now. That chart I drew earlier is going to look very different if this keeps up. I hope it's not ASF chasing it. Volume is so low there should be opportunties to get in. On the other hand...

 

[mmmmining]

I did read out a research report by RM. I like PXR, But I am not a big fan for greenfield project anymore.

The only exception is looking for companies with uranium projects that worth absolute nothing such as SMC type, a gold explorer with uranium at backyard.

Another one I put on notice is EDN. It has a very similar statement as SMC, and are reviewing the historic data.

There are a couple of well-known copper explorers/producers with uranium assets, such as MRX, URL, GSE, .....

I have identified DGR just a couple of weeks ago. People are buying the moly story atm, and the uranium project worth nothing currently.

My focus has shifted to near-term producer. I knows, I am no going to make a killing, but a few percent here and there is OK with me.

Good luck with PXR, at least has 10 bagger potential as most greenfield projects.

 

[Sean K]

Has continued to move since last chart. MACD, Stochs and volume aligning to look bullish to me. Volume still not huge, but improving. Might be just overlooked.

(holding)

 

[YOUNG_TRADER]

Not many sellers left, but then again buying isn't tha strong either, volume as Kennas says is avg, but it could rocket on news,

Has been heading up though the last few days, news to come soon? ? ?

 

[greggy]

Not many sellers left, but then again buying isn't tha strong either, volume as Kennas says is avg, but it could rocket on news,

Has been heading up though the last few days, news to come soon? ? ?

Hi YT,

I had another good look at this stock over the weekend. With this stock its alll about location, location, location. It has ground next door to Northern Uranium in NT. Besides uranium exposure in the NT it also has ground prospective for uranium in WA. While its work will be at the initial stage, PXR may well be seen as a cheap alternative to NTU for NT exposure. A JV down the track might happen shoud NTU find something big next door. I haven't bought any PXR as yet, but am monitoring the situation very carefully.
PXR management see the company as being a focussed uranium play. PXR went up well again today. Good luck to all holders.
DYOR

 

[purple]

very very thin trading on PXR....

everyone watching and waiting eh?

 

[YOUNG_TRADER]

Ann out, PXR and New Age are about to start picking up grounds in Africa, sounds good to me, only adds to its exploration appeal

Mkt Cap still under $20m

 

[greggy]

Ann out, PXR and New Age are about to start picking up grounds in Africa, sounds good to me, only adds to its exploration appeal

Mkt Cap still under $20m

Positive announcement. Good to see PXR looking at its options. Most other uranium explorers with land in Africa have done very well indeed. But don't forget that PXR still has a sizeable landholding right next door to NTU. With the share price around the 24c mark this stock has plenty of potential. Yet it has been well and truly overlooked by the market.
DYOR

 

[YOUNG_TRADER]

Positive announcement. Good to see PXR looking at its options. Most other uranium explorers with land in Africa have done very well indeed. But don't forget that PXR still has a sizeable landholding right next door to NTU. With the share price around the 24c mark this stock has plenty of potential. Yet it has been well and truly overlooked by the market.
DYOR

I couldn't agree more Greggy, PXR appears very very cheap when compared to its next door neighbour NTU, its move into Africa is very promissing, I think patience is required here as the mkt has not yet realised its potential

 

[greggy]

I couldn't agree more Greggy, PXR appears very very cheap when compared to its next door neighbour NTU, its move into Africa is very promissing, I think patience is required here as the mkt has not yet realised its potential

Hi YT,

Interest may well increase once more people begin to realise that PXR is next door to NTU. NTU has had an amazing run, but not too people out there understand where PXR's land is located. I'm hoping down the track that the French will also take an interest in PXR due to its proximity to NTU. The overseas move IMO is just icing on the cake. Hence, today I've put my money where my mouth and bought a considerable number of options in PXR.
The PWR options expire on 30 June 2012, that's over 5 years to go. They will cost 20c to convert into shares. They last traded at 8.3c.
DYOR

 

[motion]

seems to be alot of sellers and not many buyers... I'm interesting in this stock but not to much info on it....

Where did you hear about the PWR options...

Thanks

 

[greggy]

seems to be alot of sellers and not many buyers... I'm interesting in this stock but not to much info on it....

Where did you hear about the PWR options...

Thanks

Hi motion,

PXR recently had an option issue (Code: PWRO). Besides looking at this thread, take a look at PXR's website. On it you'll find a research report by RM Research. With this stock its all about location, location, location. PXR management also consider PXR to be a pure uranium focussed company.
In terms of quantity, the buyers still out number the sellers. As for the sellers there is no seller with more than 55,000 shares to sell, hardly a worry.
DYOR

 

[motion]

thanks greggy for the info I will have a read of there site... =

 

[greggy]

thanks greggy for the info I will have a read of there site... =

Hi motion,

To save you some time, the following is a summary of the RM Research report:

_ Palace Resources Limited (“Palace”) holds 100% of the uranium rights to a
large land holding (approximately 12,400km²) in Northern Australia that is
highly prospective for uranium mineralisation;
_ The ground position includes 100km of strike of unconformity-style targets
(Alligator River and Athabasca Basin type deposits) as well as a number of
secondary calcrete (Yeelerie -type) and palaeo-channel targets;
_ A number of geological targets delineated to date have large coincident
uranium radiometric anomalies – including a 7km radiometric anomaly within
a palaeo-channel at Lake Teague;
_ The Company’s ground package has only been lightly explored for uranium
as programmes were curtailed by Federal Government policy in the 1980’s;
_ Palace’s Tanami and Lake Teague Projects are close to uranium
mineralisation hosted in very similar geological settings;
_ Previous sampling at the Marla Project has uncovered anomalous levels of
uranium;
_ A number of near-surface anomalies at the Tanami and Lake Teague
Projects warrant immediate investigation with good potential to delineate drill
targets in the near term;
_ Palace has a highly experienced Board of Directors with extensive exposure
to the Australian resource industry;
_ The Company will also continue to investigate new project acquisition
opportunities in the resources sector with the aim of investing in initial
exploration and seek joint ventures once exploration targets have been
sufficiently defined - therefore maximizing returns on funds invested;
OUTLOOK
_ Palace is a NT and WA focused uranium explorer with a large land holding of
prospective exploration ground in Northern Australia. The Company’s
projects have surface anomalies requiring immediate investigation with early
potential drill targets at the Tanami and Lake Teague Projects;
_ Anecdotal evidence from previous explorers in the Tanami Complex suggest
that many previously identified radiometric anomalies and possibly drill and
surface sample results were not recorded due to the negative sentiment
towards uranium together with other sensitivities suggesting to RM Research
that the prospectivity of the region is significantly higher than previously
thought;
_ 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.
DYOR

 

[motion]

Greggy, thanks for the info and trouble.. well I'm onboard now so I'm looking forward to watching this baby.... thanks alot for this....