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Hi,
why the big jump in PXR up 13% in 5 minutes... any ideas?
why the big jump in PXR up 13% in 5 minutes... any ideas?
PXR - Palace Resources
- Thread starter imajica
- Start date
Hi motion,
PXR rose 13% in 5 minutes at the end of the trading day on very thin turnover.
Things are a little quiet, but I can't complain. It gave me the opportunity to buy a considerable number of PXR options. Being next door to NTU in the NT is potentially a big bonus. Any success by NTU on its ground next door to PXR may well have a very positive effect on PXR's share price. News of a possible African uranium play down the track is also an interesting prospect. This is a stock, as YT has said, that you just have to be patient with.
DYOR
I find it amazing with all recent NT uranium floats having done extremely well, yet PXR is still stuck near its issue price. It has a huge landholding next door to NTU in NT yet is still trading quietly. It also has the promising Lake Teague Uranium Project in WA. I've acquired a total of 555,000 options in PXR over the last couple of days as I feel its been well and truly overlooked and has considerable potential. One just has to be patient. Any other views?
DYOR
DYOR
Last night at 6:00 pm AEST I rang PXR (Tel: (08) 9481 1144) and spoke with Matthew Sullivan, one of PXR's directors. Mr Sullivan, a geologist, has over 17 years experience, including more than 4 years with Cogema, one of the world's largest uranium explorers and producers. He played a key role in assembling PXR's tenements. During our conversation, he informed me that the company's very excited about its projects, especially its Tanami Project which is next to NTU's tenements. There has been some JV interest expressed in relation to this project.
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 in WA.
PXR is also seeking uranium projects in West Africa. An announcement was made to the ASX in relation to this on 17 Apr 07.
The company will be doing a roadshow soon in order to raise its profile.
Overall, the impression I have of Mr Sullivan is that he is a well experienced geologist who is focussed on maximising shareholders' returns. He agrees with me that PXR has been well and truly overlooked by the market. Hopefully, the forthcoming roadshow will assist in raising PXR's profile.
Thanks YT for introducing this stock to me.
DYOR
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 in WA.
PXR is also seeking uranium projects in West Africa. An announcement was made to the ASX in relation to this on 17 Apr 07.
The company will be doing a roadshow soon in order to raise its profile.
Overall, the impression I have of Mr Sullivan is that he is a well experienced geologist who is focussed on maximising shareholders' returns. He agrees with me that PXR has been well and truly overlooked by the market. Hopefully, the forthcoming roadshow will assist in raising PXR's profile.
Thanks YT for introducing this stock to me.
DYOR
Nice stake of oppies you got there.
Nice to see directors loading up as well.
Market cap is a bit of a joke for this one, technically its bounced off 20c like a champion.
Not holding (yet) but multibagger potential no doubt.
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YT/Greggy do you think it is possible that Areva will cast their eyes over this especially with its proximity to NTU who Areva already have a satke in and aslo in light of what happened re SMM.Dont hold yet but think i will on Monday
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Most certainly, but more so Mega, as they had the door shut in their face re NTU's Tanamai project by Areva, so why wouldn't you then just go next door?
Hi YT,
PXR's Mar 07 Quarterly Report was released today. Nothing much to write home about. PXR has over $2.783 million in cash. However, I did note the following line "...The Company is continuing to assess projects on thier merit and is committed to maximise the opportunities on behalf of the shareholders, irrespective of the projects geographical location". Its good to see the company looking to add value by acquiring further projects, most likely overseas in West Africa I feel.
When speaking with Matthew Sullivan, a PXR director, he stated to me that he knew Areva well having worked for over 4 years with Cogema. If NTU comes up with some good exploration results there may well be a bit of a fight on over who joins up with PXR on their NT ground. I would say, bearing in mind its simply speculation at this early stage, that Areva would start off favourite as they're next door neighbors, but then again there's nothing stopping Mega from making a play for PXR's NT ground. Interesting times lie ahead.
DYOR
Greggy, i realise PXR are at very early stages, but did Mr Sullivan mention what they will concentrate on first? Lake Teague (WA) or Tanami project (NT)? Which would be most likely do you think?
Do you know when NTU plan to drill the area directly adjoining PXR's tenements?
Hi Skegsi,
When speaking to Mr Sullivan, he informed me that a number of near-surface anomalies at the Tanami and Lake Teague Uranium Projects warrant immediate investigation with good potential to delineate drill targets in the near term. The company is currently preparing an exploration programme to test the known targets at its Tanami Uranium Project.
NTU announced to the ASX on 1 May 07 that a $2.7 million exploration budget has been approved for Areva operations on the Gardiner-Tanami Super Project. The programs will cover all of the currently granted tenement areas.
In summary, I feel that the Tanami Uranium Project holds the most potential and its search for uranium projects in West Africa also looks very interesting. Any other views out there?
DYOR
PXr's share price has weakened of late on thin turnover. No doubt its management will perhaps bring forward its roadshow in order to make more brokers and investors aware of its various interests. More details of its upcoming exploration program in the Tanami, NT, would also be of interest.
This is definitely one stock that one has to be patient with as it is arguably one of the most overlooked uranium stocks listed on the ASX.
DYOR
This is definitely one stock that one has to be patient with as it is arguably one of the most overlooked uranium stocks listed on the ASX.
DYOR
Further to my contribution earlier today, I have just spoken by phone to Roland Berzins, PXR's Company Secretary. He told me that the company is aware of the fact that PXR has been overlooked by the market and that it intends to do a roadshow shortly in order to make more people aware of the company's potential. He agreed with me that having acreage next door to NTU leaves PXR well positioned and that the market hasn't caught on to this.
The company is also on the look out for new acquisitions.
In light of recent weakness, I have picked up 700,000 options and my father has also picked up 300,000 as well.
Just as has been case with BYR and ERL, one just needs to be patient with stocks such as this one.
DYOR
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Good work Greggy. It seems the market is plowing ahead with new record highs and my shares (PXR included) drifting the other way. Seems a long time since they were .45c.
As you say..patience.
Nice pick up on the options!!
As you say..patience.
Nice pick up on the options!!
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DAZT49 -- I feel the same as you.... I'm looking for an news at the moment with PXR I'm not a big share holder but I do have enough invested to feel the downturn of the share at the moment....
Greggy thanks for the update I still think this will take off over time,
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Greggy any chance you could stop telling people waht a great buy they are until i buy some options.Cannot believe the price of the oppies and expiry date-you would think they would have some anns before they expire
Hi motion,
I doesn't take a long time for shares to come back into favour. You only have to look at both ERL and BYR (in my case) to see this. Before committing funds to any stock I put them through various filters:
1. Low market cap and price (PXR - under $10 million)
2. Good experienced management (PXR - significant boardroom experience, Mr Sullivan worked for over 4 years with Cogema)
3. Is it an overlooked stock in a booming sector (uranium, nickel)? (yes, PXR is uranium focussed)
4. Potential upside - interesting prospects, nearology effect (PXR - next door to NTU)
5. Is the company looking for new projects in order to increase shareholder value (PXR is looking to West Africa for uranium projects).
6. Does the company have sufficient cash? (PXR has over $2.7 million cash as at the end of Mar 07).
As has been discussed throughout this thread, PXR indeed has passed all the criteria I use in order to select overlooked stocks with multi-bagger potential. I have been using weakness in the share price as an opportunity. Nothing has changed in the company's fundamentals that would worry me. As I reminded Mr Berzins today, PXR management need to do more on th PR front and this is exactly what they intend to do.
DYOR
Why would u buy the options, when at the current option price, and a exercise price of 20cents they are considerably out of the money?
When you consider that the time to expiry is very significant, I believe you should expect the options to be out of the money.... in effect you are paying about a 5c or 6c premium, as of today, to both leverage yourself and yet minimise your risk for about 5 years! In a spec/high risk play the options are surely an excellent choice if you wish to invest in Palace Resources.
When you consider that the time to expiry is very significant, I believe you should expect the options to be out of the money.... in effect you are paying about a 5c or 6c premium, as of today, to both leverage yourself and yet minimise your risk for about 5 years! In a spec/high risk play the options are surely an excellent choice if you wish to invest in Palace Resources.
With over 5 years to go on the options, they are certainly a more leveraged play on PXR. You basically get 3 times the exposure than you would get by holding the shares. Options are for the more experienced trader who can tolerate the risks involved.
DYOR
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