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SRZ - Stellar Resources

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the upcoming AusIMM uranium conference (15,16 May) in Darwin will be having a session on the Warrior project

cheers
 
SRZ released Toro's drilling results after the mkt close,

Per my previous post Drilling looks to have intersected 200ppm - 900ppm in most of the holes, most importantly this increases the confidence in the Pre JORC Compliant reource which was 11.8Mt@0.034% U3O8

In addition to this SRZ was easily able to boost its cash coffers today by another $3m by placing 8.4m @35c

Total Cash stands at $6.5m + $3.5m in in listed USA securities

Also it appears SRZ has a Carrapateena target situated only 40okms south of the discovery and even closer to MOX's new discovery

With $10m in cash + assets SRZ's current mkt cap of $28m seems far too cheap given the fact that it is of of a handful of players to have a deposit in South Australia, not to mention some excellent Tin projects as well as a copper project and now a IOCG Carrapateena type play

Re-Rating should happen this month
 
another positive to come out of the Toro drilling ann was that out of the two jv's covering the Warrior paleochannel, it was Stellar's that has produced the better results

having said this, I understand the areas drilled differ in size - areas A and B in the stellar jv are larger than areas C, D and E in the Range River Gold jv - and the drilling undertaken in those areas differ - grid pattern for Stellar and single traverse for Range - nonetheless of the significant results listed, 80% were in area A (Stellar) and the largest intersects and higher U308 ppm were the Stellar results

further, and importantly area B assay results are yet to be returned from laboratory as well as further area A results

the depth being at approx 30m also bodes well

with the Stellar jv results being the superior results reported thus far, it would be fair to expect Toro to advance the Stellar jv leases more rapidly than their other jv's

agree with others on this thread re current valuation and potential prospects

cheers
 
Another follow up announcement to TOE's recent drilling,

Still not being re-rated though, but like CUY, MTN, PNN & AGS once it is it should appreciate.
 
Thanks YT and abyss.

Reasonable volume today, but finished very strongly in late trade after the announcement of the significant assay results at Warrior Uranium.

Points to a promising start tomorrow.
 
Hi Guys,

I noticed this took a big turn today I'm alittle lost on why this has taken a change today any thoughts ?

I still think this is a great company to hold..

cheers
 
motion said:
Hi Guys,

I noticed this took a big turn today I'm alittle lost on why this has taken a change today any thoughts ?

I still think this is a great company to hold..

cheers
Click to expand...

I think a big turn is a little harsh! Only down one cent at close on light trade - most of the day it was steady, the sell side is still very limited. But agree with you totally, this is a good one.

YT has done some very good analysis on this in an earlier post. Given its many projects, cash assets (and recent cash injection at 35cents) and the fact that it has a JV with TOE (in SA, the best Uranium state), it appears quite undervalued compared with some of the other players.
 
Thanks Ruprect, Nice to be able to chew the fat over this one... well maybe it was a little harsh . Thank you for your comments yep YT has done an excellent job in highlighting the company and it's assets.

Thanks again... will be looking for another chance to get some more if I can...
 
Guys RDM is right now drill testing its Pernatty Lagoon Project (see image 1)

The project is very close to MOX's ground hog and also Carrapateena

Any success here will boost the SP of SRZ for their Pernatty Project which is next door to RDM's (see image 2)

With a Uranium deposit in South Aust

An IOCG Olympic Dam Targer near Carrapateena

Tin projects in Tasmania

Plenty of cash and now broker backing at 35c SRZ is a value play IMO

Also technically SRZ is finding good support around 35c!
 

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Hi

Anyone know why the fall in SRZ... ? has there been some news on the inside maybe ...? any ideas do not really wanna loose out on this one... I know YT has some excellent points on the company but there has also been a drop in the last few days ?....
 
Yep, come off quite a bit hasn't it. I expected it to hold above 35 support really. Hasn't conformed. Pretty low volume though and there's a buyer at 32.5, so it'll probably come off this 31 level. Just one trade for 192 shares left over from another trade. I would prefer to see it back above 35, of course! Nothing changed from previous discussions here really.
 
Have a look at the recent BoardRoom Radio report if feeling a little despondent. "Five or six" assay results are due to come through in this quarter, so SRZ should get plenty of attention. With such a small market cap, a good result from any one of their tenements should send the share price up. I bought in a few days ago and I'm currently looking at a bit of a loss, but I'm seeing this price dip as an opportunity to have another bite.
I think we are just seeing U-spec investors who bought in before the ALP conference, jump ship after their "instant multi-bagger" dreams failed to materialise. But SRZ is not just Uranium, its got lots of eggs in lots of baskets. I'm just going to load up and wait for those assays...

Good luck!
 
See post 72, like I said if RDM find something near the MOX/Carapateena discoveries, SRZ will also rise as we're next door,

Refer to the images
 
Another one adjacent to MOX and SRZ is Argonaut resources (ARE). ARE has today gone up more than 10% on good volume so hopefully SRZ is coming people.

No thread on ARE and i dont have enough data on ARE to start one.
 
From this morning's "The Age"

Stellar Resources

STELLAR Resources shareholders are getting a bang for their buck, with the Melbourne-based explorer able to come up with the goods on three fronts.

The Warrior uranium exploration joint venture with Toro in South Australia has produced some encouragement, as has Stellar's copper/nickel hunt in Tasmania.

But thanks to the spectacular copper/gold hit of Teck Cominco and Rudy Gomez at their Carrapateena project at Lake Torrens in SA, it could well be Stellar's "nearby" Pernatty prospect that provides the near-term excitement.

Not long after Teck Cominco, as operator, reported the 905-metre hit of 2.1 per cent copper and 1 gram of gold a tonne at Carrapateena, Stellar pulled in $2.9 million from a placement of shares through Taylor Collinson at 35? a share.

The funds are earmarked for drilling at Pernatty, 40 kilometres west of Carrapateena.

A gravity survey last year at Pernatty identified a number of targets at depth and similar in size to Carrapateena, which will be put to the test by the drill bit ASAP. Stellar last traded at 33.5? a share, a discount to the recent placement price when enthusiasm for the Carrapateena hit was at its peak.
 
So much activity going on here,


SRZ​

Mkt Structure

Shares
60m fully diluted
Mkt Cap @ 25c = $15m
Mkt Cap @ 50c = $30m
Mkt Cap @ 75c = $45m

Cash
$3.5m

Listed Investments
10m USA @ 35c = $3.5m

Mkt Cap Comparison with peers
SIM $35m
SNU $50m
USA $35m
UXA $40m


Projects

Warrior Uranium, 30% Free Carried by Toro, S.A.
Pre JORC Compliant Deposit 11.8Mt@0.034o8 = 8.8M lb's u3o8
Net to SRZ = 2.64M lb's u3o8
Take Over value @ $15 lb (what PDN has been doing) = $40m = 66c SRZ

Toro intial results are 1-5m intercepts grading 200ppm - 900ppm

More results to come




Tarcoola Uranium, 30% Free Carried by USA, S.A.
Bunch of licences in Sth Aust, USA abbout to commence exploration work soon.

1. Kingoonya Palaeodrainage System
1.1. Airborne EM survey (AEM)
GPX Airborne advises that they have mobilised to Tarcoola and commenced flying the contracted REPTEM surveys in the Tarcoola, Kingoonya and Muckanippi Project areas.
The program, which has been repeatedly delayed by technical and commissioning issues, will take about 10 flying days to complete. Information on the flight plan and other aspects of the survey were provided in the most recent Quarterly Report to ASX.
1.2. Air-core Drilling
A contract for a minimum of 20,000m of air-core drilling has been signed for work in the Tarcoola-Kingoonya-Muckanippi area. The contractor advises that they are on-schedule to mobilise into the area in late June 2007 and following interpretation of the AEM survey data



Alpine Copper, 100%, Tas
Lots of 50m @ 0.5% Cu intersections and not too deep wither, ie 20-40m from surface, interesting,

More drilling underway


IOCG Olympic Dam type IOCG, various JV's, S.A.
A few JV's, free carried, searching for next Olympic Dam


Pernatty Olympic Dam type IOCG, 100%, S.A. very close to Carrapateena and MOX's Groundhog

RDM are drilling next door (SEE POST 72 for Maps)

Any MOX/Carrapateena similar hits and SRZ will rocket on Nearology



Tin Tin, 100%, Tas
Apparantly some excellent Tin projects, company is drilling currently, maybe looking at spin off per comments last ann

I think a spin off is on the cards, given all Tin IPO's are listing at a 200-400% premium this would be very good for us SRZ holders


Summary
With a mkt cap of $17m, with $7m in liquid assets SRZ appears undervalued on a peer comparison basis,

In addition to this Warrior host a pre JORC days Uranium deposit of nearly 9mlb's of low grade Uranium,

SRZ also has a few other intersting projects,

IMO one of the last DECENT Aussie U plays with a mkt cap under $20m
 
Anyone else compared the SRZ and the TOE charts?

They look very similar in their patterns.


Worth keeping an eye on.

I am considering investing in SRZ, I listened to the announcement on brr.com.au and it sounds like theres a few busy months ahead. Just trying to pick an entry point. I think 33.5 is there abouts, but wouldn't mind getting in around 29 cents.

Hoping for market correction but hasn't come as yet.
 
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