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PXR - Palace Resources

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I have owned PXR and recently sold to wait for a re-entry. You are right that market cap looks very low for a uranium explorer in the NT with a prospective EPL right next to NTU, whose market cap is much larger. There are not many U explorers with a cap under $50m atm. (I'm not sure if that is sane though) They need to produce something more concrete than a land holding and a good web site, I think. Although, that hasn't stopped some other stocks being re-rated on nothing other than a piece of land.....
 

Ahoy Captain Chaza,

You're probably sailing as I write. Here in Melbourne its perfect sailing weather. Sorry to digress.
With 28 years of trading both winners and losers, I have come to the conclusion that the market has so many stocks that inevitably a number of them will have been well and truly overlooked and are mispriced. On closer examination, a number of them deserve to be overlooked due to high debt levels, poor management etc. These stocks I exclude from buying. Hence, I tend to stick to overlooked stocks with experienced and capable management together with very interesting prospects.
I recently wrote to the Pre Speculation columnist from the Weekend Australian in relation to PXR. He wrote back to me stating he's been unable to find anyone who knows anything about the stock. This goes to show how overlooked it is. Not surprising when there are now well over 100 uranium related stocks listed on the ASX.
The fact that PXR is currently below its issue price doesn't worry me too much as its potential hasn't changed. PXR's management will have to do more on the PR front. You've got to remember that there's a lot of resource stocks that have also gone below their issue price during the past 18 months or so, including UNX, UXA, VMS, MZM and ERL just to name a few. When more traders began to see their potential, along with good exploration results, interest rose and share prices increased.
DYOR
 
greggy is there any indication as to when a drilling program will begin, as this is a key criteria towards pxr developing more awareness amongst investors?
 
Boy888 dont know about drilling commencing but think that a driver for this share will also be results from neighbours NTU who should have something to announce reasonably soon.Hopefully if positive PXR will rise and then they just have to find something themselves to have double the effect
 
yes i believe ntu are working on developing detailed airborne magnetics and radiometrics over its tanami project area; which will then be followed up with a drilling program. The intial radiometrics results could rub off favourably upon pxr, if positive and encouraging results are released by ntu. Cashed up Areva is keen to aggresivley pursue exploration in the tanami area, its a matter of patience on our behalf.
 
Ahoy Officer Greggy

I make no apologies on my assessment of the good or bad ship PXR

She is now in falling mode and buyers should be made aware
IMO

Sure , I understand that in a trading year of ~200 days somebody could pick the bottom

I think the odds are even greater than this "In Real time!"

Surely you must agree with me that there must be a sign/signal in the charts somewhere that the The Goodship /BadShip PXR has not been a "MILKING" exercise

This would be against the Laws on Land as you know
At sea on the ASX we take these sort of matters with a grain of salt

First-In best dressed if you like?
OR
Last -In best dressed if you prefer?

We take our chances and we win when we are right and then we change our plan to "long tern" if we are found to be wrong in the short term LOL!

So WHY does "NOT ONE" of my technical indicators point NORTH for the PXR ATM ?

I hope for your sake it is all hidden in the fine print in the documents I love to refer to the Sweet FA documents

Salute and Gods' speed
 

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Go check the chart of AIM out. It was looking very poor only 3 weeks ago. I knew Mumbwa results were drawing near and I know that they are building a mine. I also have a feeling they will seal their offtake agreements soon..yet you still had the investors who were worrying about the chart looking very poor with the technical indicators looking bearish..now look where they are. I dont go by technical indicators. That will get thrown out the door when PXR release news in relation to an african project being acquired. They could jump up 20 cents in a day and its very easy to miss the boat. In conclusion technical indicators can be good to an extent when predicting good news is coming out but I dont like missing the boat because waiting for the indicators to change can sometimes cause you to miss the boat.

How many investors knew about Echelon 6 weeks ago? NONE. I think lots of people still dont know about them.

I feel PXR are worth a go atm. They aren't expensive market cap wise and have decent projects in the NT. News on an african project could be released at any time in the near future and if not they still have their aussie prospects to fall back on. In my view they are a very good spec play. Not one for me to put all my money into..but stocks like these dont need you to put all your money into them to make huge returns. All the best to holders.
 
PXR went up today 2 cents today to 20.5c on turnover of 97,500. Whilst this share has been falling of late on thin turnover, its refreshing to see it go up 2cents today, also on thin volume. I noticed today there's been increased buying support for the shares. Th options also went up today and there's a strong buyer wanting just under 300,000 at 6.9c. Hopefully, today is the start of increased buying interest for the stock.
With a market cap of under $5 million this stock has been horribly overlooked. PXR's tenements are well located, especially in the NT at its Tanami Project. Should PXR's neighbour, NTU, have any exploration success there could a very positive effect on PXR's share price. I also wouldn't rule out a corporate play either although its still early days.
In relation to West Africa, if PXR were to find some reasonable uranium projects the effect on the share price could also be very positive. You only need to have a look at the share prices of companies that have ventured into Africa to see how traders have reacted to such moves.
All in all, I stand by my statement that PXR has strong potential to be a multi-bagger.
DYOR
 
ok greggy enough with the ramping up! we've heard it all before. time to let the market give its verdict... don't let the secret out.....
 
Are PXR options excercisable at any time prior to expiry?
Also what is the premium to convert to shares?

Thanks
 
Well I'm trying to get out of PXR and have been for sometime... This was a bad buy on my part and since it was my 2nd share ever I'm not to upset but still down alot of money at the moment and since it dropped around 21% today....I'm flying the pen.......good luck with PXR....
 

I didnt notice the head share went down because I'm on the oppies and they havnt moved much. Like I said for me personally I would only put in a few grand. Rewards can still be excellent for investing that amount. If you go in heavier the rewards will be greater. I feel comfortable with that amount of money in PXR. I wouldnt give up on them though..they are quite cheap atm.
 
Motion
Why not hang out till the next announcement.
The whole sector is down currently. One of my shares is down over 50% of about a month ago and the rest down 20-30%.
Hang tough I am sure there is upside in PXR
 
The options were only down 0.1 cent today. Hardly any need for panic if you're holding the options. I bought another 70,000 of them yesterday taking my total to 770,000 options (1,070,000 options is now owned by my family, just under 3% of the total number of options on issue) on the back of its interesting prospects. Taking into account the fact that the options have another 5 years and 1 month before expiring, I feel that they offer enormous leverage.
Today's volume wasn't all that great. I notice that about 70,000 shares were sold below 18 cents in the afternoon, hardly the volume that would cause me to worry. PXR's last quote was 17c (Buyer) /19c (Seller).
Perhaps a few other newbies, like motion, sold out today.
Having put enormous hours of research into studying PXR and contacting two of its directors, I don't believe anything has changed in relation to PXR's prospects. Its just gone down today on thin volume.
Sometimes one just has to be patient. I recall recently with ERL that a number of traders sold out when it fell to 19 cents on thin volume. It then came out with a good announcement and went to the early 50s in a matter of days. Too many people panic, especially newbies, when prices fall on thin volumes. You just need to look back at Mar 07 for a good example.
DYOR
 
DAZT49 said:
Motion
Why not hang out till the next announcement.
The whole sector is down currently. One of my shares is down over 50% of about a month ago and the rest down 20-30%.
Hang tough I am sure there is upside in PXR
Click to expand...

Thanks DAZT49, Sorry if I sounds down just alittle upset at this share.. But you are right I will wait for an ann. lets hope only good things can come from it......... I did buy into this because it was a good share and maybe the market is having a bad run... but just about all of my shares are in the green so just alittle dissapointed in this share...

DYOR on this company.........
 
Hi Boy888,

In relation to PXR, the company is currently working on the refinement of existing targets and selection of additional targets at its Tanami tenements. Priority targets will be further defined with ground based geophysics (EM, radiometrics) during the up-coming field season prior to drill testing. IMO PXR is at a similar exploration stage as that of NTU with the main difference that Areva is the operator of NTU's Super Gardiner-Tanami Project. Its just speculation on my part at this stage there's nothing stopping PXR from entering a JV with a major company in order to properly explore its tenements. As I've said previously, NTU approached Areva about its tenements. Areva responded by taking a substantial placement of shares and became the operator of the Super Gardiner-Tanami Project.
Whilst on the subject of PXR's Tanami tenements, I notice that PXR has recently been granted EL 25207 within the Tanami Project. Th licence will cover some 1,574 sq kms in the Browns Range South area. Radiometric data in the Browns Range South area shows several large, coherent uranium anomalies spatially associated with the target unconformity. To the south of the project are several known occurences of uranium, the most notable of which is a prospect known as 'the Don' where drill intercepts of 0.4m at 1.7% U308 have been recorded and associated with the unconformity. I wish to point out that this lease is the closest lease to NTU's ground (it infact adjoins NTU's land in the Tanami) and is infact non-Aboriginal land. The rest of its Tanami's leases are on Aboriginal land.
Things are pretty quiet on the share price front, but you only have to look back over the past 12 -18 months to find many other specs in the same position (UNX, HNR, NAV etc). With so many specs now listed, some of them have been overlooked. A few have benn neglected for valid reasons, but IMO PXR has been harshly treated by the market.
DYOR
 
I'm reposting Greggy's comments because I wanted to post a pic and put into context what he's saying

IMO PXR is at a similar exploration stage as that of NTU with the main difference that Areva is the operator of NTU's Super Gardiner-Tanami Project. Its just speculation on my part at this stage there's nothing stopping PXR from entering a JV with a major company in order to properly explore its tenements. As I've said previously, NTU approached Areva about its tenements. Areva responded by taking a substantial placement of shares and became the operator of the Super Gardiner-Tanami Project.
Whilst on the subject of PXR's Tanami tenements, I notice that PXR has recently been granted EL 25207 within the Tanami Project. Th licence will cover some 1,574 sq kms in the Browns Range South area. Radiometric data in the Browns Range South area shows several large, coherent uranium anomalies spatially associated with the target unconformity. To the south of the project are several known occurences of uranium, the most notable of which is a prospect known as 'the Don' where drill intercepts of 0.4m at 1.7% U308 have been recorded and associated with the unconformity. I wish to point out that this lease is the closest lease to NTU's ground (it infact adjoins NTU's land in the Tanami) and is infact non-Aboriginal land.


NTU's mkt cap probably 6-8x that of PXR
 

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Its a long time since the last company ann. 17/4/07 re Uranium in Africa.
Must be one due soon.Lets hope its a good one.
 

Hi YT,

Thanks for posting the map once again and for bringing this stock to my attention. I'm very surprised that this stock is very much an undiscovered little gem. Its has an excellent ground position right next door to NTU. Its also trying to find new uranium projects in West Africa. Indeed this stock has the potential to be a multi-bagger on a number of fronts.
DYOR
 

Just notice that options expire in 5 years!!!!!!!!!!!

What's with that?

Why would a company give that long???
 
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