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PXR - Palace Resources

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boy_888 said:
Looking through some activity reports for palace, i noticed that a very substantial chunk of its budget is set for its WA land holdings. Does that make total sense? Shouldn't it be concentrating on exploring in a U friendly state?
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I have spoken to the company about this and they say that the best thing to do is to first find a resource then worry about the politics later on. Down the track the company strongly believes that political attitudes will change down the track in WA. It would be preferable if the WA Govt changed its mind, but if you take a look at other WA uranium explorers when they released good results the share price has reacted accordingly. There are lots of serious bets being made out there anticipating political change. Also budgets and the focus of companies can and often change once listed.
The Directors of PXR are very keen to commence work on the Lake Teague Project which is located 130 kms north west of Wiluna in WA. Aerial radiometric surveys and historical drilling by Esso Australia Limited in the early 1970’s approximately 5km west of the Lake Teague Tenement located calcrete-hosted uranium mineralisation. Intervals of mineralisation containing
carnotite (a uranium-vanadate mineral) were intersected in calcrete and playa lakes sediments over a large area and were open in all directions. Results from the drilling peaked at 0.1% U3O8. Uranium anomalism within the same palaeo-channel systems that hosts the mineralisation discovered by Esso Australia Limited occurs within Palace’s tenure for over 7km. Two large anomalies have been identified upstream and within the same palaeo-channel system from the Esso mineralisation. A number of other targets associated with other palaeo-drainage systems have also been identified in the central and southern portion of the Lake Teague Project area.
Due to the sheer size of its Tanami tenements I wouldn't be surprised if the company enters into a JV with a major resource company in order to properly explore that particular project. Don't also forget that the company also has the Marla Uranium Project in NT.
The company is also on the look out for uranium projects in West Africa.
DYOR
 
Hi all

Noticed it mentioned in the PXR website that there is a lot of native title land in this area. Does this pose a problem for companies generally that may want to mine at some point in the future?

Cheers
SG
 
If the laws do not change for NT uranium mining wouldn't that put a whole heap of companies out of business?
 
Ken said:
If the laws do not change for NT uranium mining wouldn't that put a whole heap of companies out of business?
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Generally these days, a lot of mining companies have the same issue throughout Australia. Its up to the various mining companies to negotiate a deal with the traditional landowners.
PXR has 2 uranium projects in the NT (Tanami and Marla) and 1 in WA Lake Teague). Its also looking for new uranium projects in West Africa.
DYOR
 
DAZT49 said:
Article in todays Age re RIO advancing its Uranium production and dealing with
traditional owners, may be of interest to you.
http://www.theage.com.au/news/business/uranium-glows-for-rio/2007/05/21/1179601330127.html
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Thanks for the interesting article, DAZT49. Of particular interest in The Age article:
RIO's energy chief executive, Mr Chiaro cautioned that Jabiluka would not be developed unless Rio got a "yes" from the traditional owners, the Mirrar people. Their leader, Yvonne Margarula, has long been opposed to Jabiluka's development but Mr Chiaro claimed that the relationship with Rio had "improved dramatically in the past two years".
"Hopefully, we can get her to say a 'yes' in the near-term future," Mr Chiaro said.
Mr Chiaro said that at the Kintyre deposit [WA], the traditional owners had approached the company about a development. Discussions were proceeding with the Martu people on a "commercial agreement" for Kintyre's development.
It all goes to show that an increasing number of traditional owners are willing to at least enter into a partnership with the uranium mining industry.
 
The thing holding back PXR is land holder issues I would say....

I would like to find out if anyone leaves in the areas that PXR have for exploration.

I am very close to buying some options but I am just a little bit unsure of the whole situation.
 
Hi Ken,

As announced in the Mar 07 Quarterly Report, PXR,s directors are in communication with the NT CLC and are working towards signing a deed of convenant under which the company will assume Newmont's obligations with respect to the Marla tenements and the other Tanami tenements and continue to hold the tenements in good standing.
I hope this info helps you.

Regards,

Greggy
 
I'm onboard. Mainly looking to see them acquire some grounds in Africa. Got the oppies. Only put a couple of grand into these though. Dont want to put too much money based off an educated gamble.
 
Chris1983 on board is a very positive sign. The ex date is in 2011, the option is indeed very cheep.welcome join the PXR bus.
 
ta2693 said:
Chris1983 on board is a very positive sign. The ex date is in 2011, the option is indeed very cheep.welcome join the PXR bus.
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I saw the oppies as very cheap like you stated. I could of put more into them but my funds are tied up atm. They dont have many shares on issue and if some news is released they could really fire up and a small parcel could be very profitable.

All the best to holders.
 
ta2693 said:
Chris1983 on board is a very positive sign. The ex date is in 2011, the option is indeed very cheep.welcome join the PXR bus.
Click to expand...

Hi ta2693,

The expiry date of the PXR options is actually 30 June 2012. It costs 20c to convert each option. To Chris1983, welcome aboard the PXR train. PXR's recent announcement searching for new uranium projects in West Africa adds some extra spice to what IMO is already a very interesting company.
DYOR
 

Greggy. The african projects will be the one to make the SP fire up in the short term. So lets see what happens. Its good to know they have some aussie licenses also. I have researched this company previously and decided it was time to act. Very cheap atm.
 
Agree Chris
Can it get any cheaper?!?
How much cash do they have?
You're paying pretty much nothing for their projects!
Any chartists care to let us know if PXR has found it's bottom?
Will be very interesting to watch in the next couple of months.
 
Chris,you can post your thread now ,I already finished buying my options
yesterday. Thanks to Greggy who mention PXR on NTU threads,so it gets my
attentions.
 
It might be a bottom, but it's only been around for a little while so there's not much built into the chart. You would think that around the issue price should be close to bottom although stranger things have happened.
 
Chris1983, I wouldn't rule out some action either on its Australian uranium tenements. Any good news that might come out from NTU's Super Gardiner-Tanami Project may have a positive spin-off effect on PXR's share price. With PXR next door to NTU in the Tanami (NT) and Areva being the Project Operator of the Super Project, one can't rule out the possibility of there being a JV on PXR's ground down the track.
Either way, PXR is on of the most overlooked uranium stocks out there. This is one stock for the patient. IMO its a potential multi-bagger.
DYOR
 

Hi Skegski,

AS at the end of Mar 07, it has $2.783 million in cash. It has significant potential on a number of fronts (NT, WA and West Africa).
DYOR
 
hmm true. You look like you have done your research. Overall they look like a decent company with some news in the pipelines. I really want them to acquire some african projects though. It would be great news because Africa is a place where we know development of a project has less hoops to jump through.
 
kennas said:
It might be a bottom, but it's only been around for a little while so there's not much built into the chart. You would think that around the issue price should be close to bottom although stranger things have happened.
Click to expand...
Hi Kennas,

Congrats once again that you're now married.
Getting back to PXR, it has fallen on low volumes of late. The only negative for my liking is that its directors need to do a little PR in order to better inform the market of its various uranium projects and to start moving a little more quickly.
I have spoken to 2 of PXR's directors during the past few weeks. They intend to soon do a roadshow to better inform potential investors.
DYOR
 
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