PXR - Palace Resources

[greggy]

Hi Greggy,
Agree, remember the SP was 45c in Feb.
In my last post i said
"IF..our next trade day gives us a higher high, and a higher low we will have point 3 (correction back in our favour)"
Well that happened, but very weak ,only 3 trades too.
The SP is going to have to open and close above the 17.5c to start moving IMO
Dazza

IMO PXR has been well and truly oversold on thin turnover. I have used recent weakness to build on my existing position. There's just enough strong potential (Tanami and West Africa (?)) for me to hang in there. Nothing has changed on the exploration front for me to be concerned. Any positive news on either the Tanami or West African front is likely to increase market interest in this stock. PXR is still very much cashed up and its management have taken a frugal approach in this regard.
Once it deliniates drilling targets, PXR intends to JV out its projects (Lake Teague and NT) to maximise its leverage and available funds. Since listing they have spoken to a number of parties, both big and small. It will be very interesting to see who joins up with them when it gets to drilling time.
DYOR

 

[greggy]

If you are interested in charts (gotta do something while waiting for the 'pot o gold')..
On this chart we have 2 areas of consolidation
1. 16c - 19c
2. more recently 16c -17 c
In the recent consolidation we can see an increase in volume (tho small) indicating more interest hopefully developing into momentum.
If you have read any of Joe Ross's info you can see that we have points 1 and 2 of a 1,2,3 low.
Point 1 being the most recent low, point 2 being the first retraction .
IF..our next trade day gives us a higher high, and a higher low we will have point 3 (correction back in our favour)
IF.. the SP breaksthru 17c then point 2 (18c) we MAY have an indication that a trend is forming.
With the small volumes and tick sizes lets say hint rather than indication.
Obviously a positive Ann SOON would help.
An obviously IMO and DYOR and PYFO

Unfortunately, PXR moved back to the 16c mark. It seems more traders are now switching to iron ore stocks in particular.
I've had to sell a siginificant stake in PXRO yesterday to buy a substantial interest in IRM at 17c. I didn't want to overcommit. My family still retains 300,000 options. I have taken my first substantial loss for this year, but have made a reasonable amount back thus far on IRM, an overlooked iron ore stock. Having missed out on both FWL and POL, I felt that an overlooked iron ore stock would provide me with a greater return in the short term. No doubt others have also taken an unfortunate hit with this one. My family retains 300,000 in the hope that some good news comes out in the not too distant future (re West Africa or the Tanami) and that uranium stocks once again become the hot sector. I thought I'd post this information in order to be open and accountable to fellow ASFers.
DYOR

 

[motion]

Unfortunately, PXR moved back to the 16c mark. It seems more traders are now switching to iron ore stocks in particular.
I've had to sell a siginificant stake in PXRO yesterday to buy a substantial interest in IRM at 17c. I didn't want to overcommit. My family still retains 300,000 options. I have taken my first substantial loss for this year, but have made a reasonable amount back thus far on IRM, an overlooked iron ore stock. Having missed out on both FWL and POL, I felt that an overlooked iron ore stock would provide me with a greater return in the short term. No doubt others have also taken an unfortunate hit with this one. My family retains 300,000 in the hope that some good news comes out in the not too distant future (re West Africa or the Tanami) and that uranium stocks once again become the hot sector. I thought I'd post this information in order to be open and accountable to fellow ASFers.
DYOR

Hi, I take my Hat off to you Greggy, I have also held onto PXR but I think the time has come to let it go. I have taken a loss on this one but you can not win them all.

Thank you for all your updates and info on PXR.. I might see you on board this ride sometime soon...

Cheers

 

[questionall_42]

Why the sudden change in opinion and action of PXR on ASF? Reading through this thread is a series of qualitatively meaningful statements about the "nearology" to NTU tenements, multi-bagger potential, diverse exploration portfolio... ...

So, if it was a long-term hold, then why exit now? Simply better opportunities or a hotter sector (i.e. iron ore)?

I can not see any change in the fundamentals that have been explained wonderfully in this thread; I am perplexed as to why one would sell out now.

Or is it just an end of financial year stock clearance?

 

[Riles]

Just end of FY juggling. It's been a good year for most so somethings gotta go. I've found myself culling a few laggards the last couple of days but I'm keeping PXRO. They've got 5 years yet to prove themselves to be worth more than 5 cents so I'll wait this one out for a while yet.

 

[greggy]

Hi, I take my Hat off to you Greggy, I have also held onto PXR but I think the time has come to let it go. I have taken a loss on this one but you can not win them all.

Thank you for all your updates and info on PXR.. I might see you on board this ride sometime soon...

Cheers

My family has reduced its stake to 300,000 options. When the opportunity came to switch into an overlooked iron ore explorer in IRM at 17c, I thought I'd take a loss and move into the hottest sector of the market. Also, its the end of the financial year. I missed out on both FWL and POL and did not want to miss the next iron ore stock that offers strong potential. A lot of traders are now switching out of uranium shares and are moving into iron ore. PXR still has considerable potential. Hence, my family is still keeping some.
DYOR

 

[motion]

My family has reduced its stake to 300,000 options. When the opportunity came to switch into an overlooked iron ore explorer in IRM at 17c, I thought I'd take a loss and move into the hottest sector of the market. Also, its the end of the financial year. I missed out on both FWL and POL and did not want to miss the next iron ore stock that offers strong potential. A lot of traders are now switching out of uranium shares and are moving into iron ore. PXR still has considerable potential. Hence, my family is still keeping some.
DYOR

Hey Greggy,

Thanks for the info.. Greggy, where you family in Cabin 2B = Because I think we where on the same boat as you .. Anyway I had alot in U stocks as well and had been holding them for a while and since it was the end of the Finanical Year. I thought I would make the switch over the Iron and try and make a gain over there for a while.

PXR is still a great company and will be in the future but I feel now is not it's time IMO if you are looking for returns straight away..

DYOR..

Thanks again Greggy

 

[greggy]

Hey Greggy,

Thanks for the info.. Greggy, where you family in Cabin 2B = Because I think we where on the same boat as you .. Anyway I had alot in U stocks as well and had been holding them for a while and since it was the end of the Finanical Year. I thought I would make the switch over the Iron and try and make a gain over there for a while.

PXR is still a great company and will be in the future but I feel now is not it's time IMO if you are looking for returns straight away..

DYOR..

Thanks again Greggy

Hi motion,

With the proceeds from PXR, I placed the funds into IRM, an iron ore stock. From 17c two days ago they've moved since as high as 24.5c, but have since moved back to 21c. I feel that the iron ore sector has plenty to run, but its also a question of trying to find some value within it IMO.
If I had held on to all my PXR my money would have gone further backwards and I would have missed out on IRM's strong performance in recent days. IMO uranium stocks seem to have had their run and most of them have fallen significantly. As I've said before, there's plenty of switching taking place into iron ore.
DYOR

 

[DAZT49]

Anybody got a clue whats happening today? Up 5c on 212,000 sold.
options are still CHEAP as chips still.
Be interesting to see if it can hold on to the gains in afternoon trading

 

[questionall_42]

Posted on the 28th June

Why the sudden change in opinion and action of PXR on ASF? Reading through this thread is a series of qualitatively meaningful statements about the "nearology" to NTU tenements, multi-bagger potential, diverse exploration portfolio... ...

So, if it was a long-term hold, then why exit now? Simply better opportunities or a hotter sector (i.e. iron ore)?

I can not see any change in the fundamentals that have been explained wonderfully in this thread; I am perplexed as to why one would sell out now.

Or is it just an end of financial year stock clearance?

Today up to 19.5c (39%) on vol of 375000 (good vol for PXR).

So was it worthwhile to hold for those couple of days?

The only reason I can come up with for the rise in sp today is that it is fundamentally a bloody decent stock at rock bottom prices (as the research in this thread suggests).

 

[DAZT49]

New financial year people looking for bargains (like PXR)??
XKO is down 18 so maybe not.
Lets hope it keeps rolling on

 

[greggy]

New financial year people looking for bargains (like PXR)??
XKO is down 18 so maybe not.
Lets hope it keeps rolling on

Looks like some bargain hunting going on. I'm glad my family still kept 300,000options. Still no regrets about buying into IRM for a quick trade.
DYOR

 

[chris1983]

Looks like some bargain hunting going on. I'm glad my family still kept 300,000options. Still no regrets about buying into IRM for a quick trade.
DYOR

Ive still got my holding in the Oppies. I think its worth leaving there. This one definately has the possibility of running which is why I got them in the first place. Like I said though..I only liked them enough to put a few grand into..depends on your level of risk but I think my small investment could bring some very nice rewards. Good luck to the holders.

 

[monaliza]

I spoke today to the company secertery and he said they going to buy a good project in western Africa, good one not any rubbish.
He did not put time frame for that, saying whetever time it takes.

 

[alankew]

Spoke to the company today-Mathew Sullivan regarding the lack of news.Survey was due to have been completed by now but the contractor they have employed uses a French Helicopter and has managed to blow up the engine(dont think he was onboardIs awaiting parts being shipped from overseas and thinks that thinks could be ready to go in a week or so.He was very bullish about their prospects and compared it to a couple of projects whose names escape me and that he thought their chance of success was about 90%Initially they will focus on near surface prospects.Aske about nearby infrastructure and he said there was bugger all so that being said I aske d what was the way forward.His response was that provided they find something worth finding,they would then look at a JV partner so they get a better deal.I asked about NTU and their Areva(?) connection and he also mentioned that he worked for Areva for 6 years and has some very good connections thereMight be worth keeping an eye on this

 

[greggy]

Looks like some bargain hunting going on. I'm glad my family still kept 300,000options. Still no regrets about buying into IRM for a quick trade.
DYOR

Sometimes it pays to take a loss from a non-performing company. Management has often been too quiet for my liking. Pity though as PXR has a very interesting ground position in the NT. I lost a fair amount of money in PXR.
DYOR

 

[monaliza]

Sometimes it pays to take a loss from a non-performing company. Management has often been too quiet for my liking. Pity though as PXR has a very interesting ground position in the NT. I lost a fair amount of money in PXR.
DYOR

Who knows what PXR could be in the future,remember
RMI went down from 20 cts in July to 10cts in August
while CUL up from 7c to 19c. Today RMI 60c while CUL 10c
I still hold PXR, although I agree with you their management
bit quiet and not doing well.

 

[greggy]

Who knows what PXR could be in the future,remember
RMI went down from 20 cts in July to 10cts in August
while CUL up from 7c to 19c. Today RMI 60c while CUL 10c
I still hold PXR, although I agree with you their management
bit quiet and not doing well.

PXR has good leases, but is not doing enough on the exploration front IMO. Its also publicity shy. Sentiment has also largely turned against the uranium sector. The hot sector at present is iron ore.
DYOR

 

[monaliza]

[During the quarter the Company has been approached by several groups looking to farm into the Company’s properties. Discussions are at a very preliminary stage and the Company will make announcements as these discussions progress.]As the company ann. yesterday,that could be the end of a long tunnel

 

[alankew]

Quick heads up on this,the options are up 42% this morning,volume only 242K(presume its one purchase).Could be connected to previous post re expressions of interest.Last time i spoke to company they were said they had got the helicopter fixed for survey and sounded very positive-however they have said the same thing on a couple of occassions.Might be worth keeping an eye on