TM1 - Terra Metals

[System]

Paringa Resources' primary objective is to explore its Minaçu Gold Project located in central Brazil, where the company has planned a two-phase, two-year exploration program with the goal of defining a significant gold resource.

http://www.paringaresources.com

 

[greggles]

I posted the following chart in The bottom is in! thread but thought I should update the PNL thread as well.

Paringa Resources has announced this morning that it has secured a US$56 million debt facility to refinance existing debt and expand development of its Poplar Grove Coal Mine in Western Kentucky USA.

PNL intends to use the funds to expand production at Poplar Grover to 2.8Mtpa.

The share price has spiked 23.1% to 16c following the announcement.

 

[Trav.]

April Stock Pick aka Kiss of Death

as highlighted by @greggles above funds are available, but delay announced on the 26 March re: Poplar Grove project which indicates first sales due 22 April. Chart wise nothing interesting but closed @ 14c today.

 

[Trav.]

I mentioned above that chart showed nothing interesting, but thought that I should post it for future reference

Weekly

Daily

 

[Trav.]

PNL had a nice close on Friday up another 13% for a close at $0.17

There has been no update on the installation of the new conveyor and first coal sales which was due this week, but hopefully the SP rise this week is a sign of a leaky ship indicating some positive news around the corner.

Disclosure - Holding

 

[barney]

PNL had a nice close on Friday up another 13% for a close at $0.17

There has been no update on the installation of the new conveyor and first coal sales which was due this week, but hopefully the SP rise this week is a sign of a leaky ship indicating some positive news around the corner.

Disclosure - Holding

Hadn't checked this one for a while Trav ….. I'll go out on a limb here and suggest PNL will be back over 20 cents in the short term (month or less) … and assuming management carry on as is, 25 cents and above will follow in due course …..

The $56 million debt facility deal and the projected earnings over the next 2-3 years indicates some big players see some value here over the next few years ….

If I were younger, I'd park a few K on this and take a holiday on the profits in 2024

 

[Trav.]

If I were younger, I'd park a few K on this and take a holiday on the profits in 2024

Haha if only. I think that i will be only trading this one short term but will be interesting to watch.

 

[Trav.]

Good announcement out today, had some early price action but closed at $0.17 again. Buyers outnumber sellers 2:1 so will be an interesting week.

 

[debtfree]

I've picked PNL for May's Stock Tipping Competition. Just a chart pick from a scan. I did notice @trav hasn't picked it for this month so I'll give it another chance to shoot for stardom.

There has been a bit of interest (volume) in PNL lately and a couple of attempts to rally in price. Short term momentum has lifted price above my S/T and L/T EMAs and my target is 24 cents.
If PNL can achieve this price within this month it will return roughly 37%. I think this will be nearly enough to be in contention on the leader board this month.

 

[Trav.]

If PNL can achieve this price within this month it will return roughly 37%.

I hope you are right as it will be a win win for both of us.

 

[Trav.]

announcement out this morning trying to stem the fall in SP, it will be interesting if this can trigger some buying volume.

 

[Trav.]

Another lesson in buying the story and not sticking to the plan...

SP slowly recovering but tying up my funds and missing many opportunities. Stick to the plan dopey !!

Poplar Grove Operations Update
https://www.asx.com.au/asxpdf/20190821/pdf/447p0jm29rzq86.pdf

 

[barney]

Another lesson in buying the story and not sticking to the plan...

Geez … How bad was my call on this back a couple of months ….. I hope you didn't take any notice of my ramblings Trav

I really thought this was back on track in late April then it just slipped off the edge again a couple of days later.

Their Market Cap to Cash ratio is still fairly healthy …. sometimes its hard to make sense out of the Spec end of the market

 

[Trav.]

Geez … How bad was my call on this back a couple of months ….. I hope you didn't take any notice of my ramblings Trav

All good mate, I was probably up 30% at the time you posted but now down 30% due to my own fault.

 

[barney]

All good mate, I was probably up 30% at the time you posted but now down 30% due to my own fault.

Bugger …… At least the last 3 weeks price action has shown some life …. Where there's life there's hope!! Good luck with it.

 

[Trav.]

PNL trading halt yesterday and cap raise info below

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=

 

[System]

On May 5th, 2022, Paringa Resources Limited (PNL) changed its name and ASX code to GCX Metals Limited (GCX).

 

[Dona Ferentes]

Following a 1 for 4 consolidation in 2019, there has been a fresh restrucure that would squeeze existing shareholders.

GCX Metals Limited advises that the 1 for 20 consolidation approved by shareholders at the Company Annual General Meeting held on 21 April 2022 is now complete. The Company has securities on issue post consolidation as follows:
- 31,639,347 quoted fully paid ordinary shares (PNL)
- 1,722,223 unquoted share options (PNLAC)


Looking to be a Aussie based gold explorer

About the Onslow Gold Project

The Onslow Gold Project is located in the northwestern extension of the Capricorn Orogen and is considered prospective for gold and copper. Nearby 1990s historic exploration identified the potential for banded iron formation hosted gold and iron oxide hosted copper-gold mineralisation.

The Onslow Gold Project covers 567km2 and comprises three tenements. The Company owns 100% of granted licence E08/3311 (121km2) and has entered into an agreement to acquire 80% of granted licence E08/3197 (188 km2). The Company has also recently applied for E08/3462, comprising a further 258km2 of prospective ground located adjacent to E08/3311.

Historical drilling on the tenements was almost exclusively focussed on the cover sequence in the search for pisolitic iron mineralisation and hence the proterozoic basement is considered to be essentially untested. A recent review of historic airborne electromagnetic surveys confirmed several anomalies that have never been drill tested.

GCX recently completed new airborne magnetic and electromagnetic survey using a modern high-powered system with 200 metre line spacing. The new airborne survey led to the identification of 11 priority targets exhibiting strong mid to late time peaks considered worthy of follow up exploration, including air-core drilling. This initial geophysical program represents the early stages of a systematic exploration approach to target gold and copper mineralisation across the Onslow Gold Project.

 

[Dona Ferentes]

there's Dante..
.
WA’s remote West Musgrave region is a major metallogenic province near the intersection of the borders between Western Australia, South Australia and the Northern Territory.

And it’s now emerging as a new mining hub, since OZ had already approved development of the West Musgrave project before it got picked up by BHP.

Currently Nebo-Babel is six months into a two-year build, with the project expected to deliver its first concentrate in the second half of 2025 at a lowest quartile operating C1 cost of US$0.50/lb nickel.

Along with the mine itself, the plan is to develop processing facilities, a borefield, temporary and permanent waste landforms, a tailings storage facility, accommodation, airstrip and power infrastructure.

More than 80% of the project’s power will be provided by renewables.

Having a big miner build all this infrastructure in the region is a boon for juniors, who could piggyback on bigger projects to de-risk their own.

Not to mention, having an asset in this emerging hub means projects that looked like dusters a few years ago could be of interest to big miners like BHP.
.

GCX recently picked up the Dante nickel-copper-PGE project, just 15km from Nebo-Babel.

It’s not a greenfields play, either. Dante comes with a treasure trove of historical datasets, which includes drilling that returned a thick 310.5m intercept of disseminated copper sulphides in the same rock types that host Nebo-Babel.

GCX have already delineated big, advanced targets including ~23km of outcropping mineralised strike grading an average of 1.1g/t PGE3, 1.13% V2O5, and 23.2% TiO2, with grades up to 3.4g/t PGE3 along with the 7km-long Cronus prospect.

 

[Dona Ferentes]

this has run recently but still has market cap under $10M

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