TRH - Transit Holdings
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Transit Minerals - just divested its non-ferrous assets into Southern Cross Goldfields (intended to be listed on asx soon). A very positive move by management, making TRH a pure haematitie play - hopefully some further positive anns and commencement of drilling in Jan will keep the momentum going. I have very high hopes for this one.
Good news today, heads up 12.5% on a bad day for the ASX. This stock is so tightly held, only 20 million heads up for grabs. making steady progress.
Just received permission to commence drilling on its highly prospective heamatite projects, secured drill rig and will kick off in "early Jan 08"..which is ..err..round about now.
12m mc (undil).
Just received permission to commence drilling on its highly prospective heamatite projects, secured drill rig and will kick off in "early Jan 08"..which is ..err..round about now.
12m mc (undil).
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I think it's a placement, to help pay for the rest of the seasons drilling. Just a guess. If so, price depends on placement price. I'm guessing at 50c, so price may come down a little. I dont expect it to stay at this price for long though, once results come in from drilling. Good luck all holders.
The 5 day average market price is $0.619. Say they give a max discount of 80% which gives us $0.495. So i presume the absolute min that TRH will raise is $4.95m (if they decide the place the entire 10m). But purely on speculation, if management are good enough, i'd expect them to get a price of $0.55, given the huge demand for IO stocks and the good fundamentals for IO in 2008. If this guestimate is right, i would assume they'd raise approx $5.5m, plus an existing cash bal of $2.4m.
Placement at 50c like I thought, Bell Potter, to sophisticated investors. Raised $2m to fund drilling of their haematite prospects. Held up well yesterday, oppies very hard to come by, I cant get hold of any at a decent price! Steady as she goes and nice chart.
This still looks like a good buy to me. Price hovering in and around new issue price which I din't get a peice of. Not seem to have done anything much with the market girations. Early results look pretty good - albeit there is a long way from the whiteboard to the P&L. Thinking about upping my stake - althoughy still a specky. A good specky though! Any views...
Cheers
Jaffa
No advice just hot air!
Cheers
Jaffa
No advice just hot air!
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Keep your Cool Matey
I am on this one BIG TIME!
20% volume discounts for insiders /Mates Rates are normal
in this line of business
What is not normal is a Posiedon or a Tasminex or even a PDN in modern times
It is good to DREAM!
It is also better to be part of the dream
Salute and Gods' speed
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hi gang..
Is anyone is following this stock?
I was following it at the start of the year when it was strong but it seems to be in the doldrums now..
Any insight?
thanks
Is anyone is following this stock?
I was following it at the start of the year when it was strong but it seems to be in the doldrums now..
Any insight?
thanks
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What has happened to TRH? Current share price is $0.14 per share. So with 31.624 m shares on issue with 14.917m options, this gives it a fully diluted market cap of $6.5m. Now cash at 31 March 2008 was $3.8m - take of $500k for the June quarter cash burn and you have a current E/V of $3.2m.
Not much. Even more surpising given they placed 4.125m shares at 50cps to sophisticates in the March quarter.
There was a comment in the last quarterly post Muldoon drilling results that management are assessing the next stage in the exploration stage. Then nothing else.
So is this a case of fallen off the radar or is there actually an underlying issue that I am missing?
At $3.2m E/V with a 15 MT DSO target and other IO prospects, is this due a bounce? It has come down on low volume so it could well be the case.
As always, DYOR.
Not much. Even more surpising given they placed 4.125m shares at 50cps to sophisticates in the March quarter.
There was a comment in the last quarterly post Muldoon drilling results that management are assessing the next stage in the exploration stage. Then nothing else.
So is this a case of fallen off the radar or is there actually an underlying issue that I am missing?
At $3.2m E/V with a 15 MT DSO target and other IO prospects, is this due a bounce? It has come down on low volume so it could well be the case.
As always, DYOR.
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Just having a final look for the day and seen that Red Rock Resources a la Mindax and Jupiter fame has taken a 1.5m stake in TRH this week. Classic. Cheeky sods have bought the whole stake sub 20cps.
Will see what this to it tomorrow.
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own a small parcel of this stock at an average price i'm too embarresed to admit (or spell correctly)
must have slipped under the nose the red rock acquisition. This will prove to be very interesting !!!
must have slipped under the nose the red rock acquisition. This will prove to be very interesting !!!
Yeah, even tho the SP was falling, there were sonme strange big buys coming in at the top of the queue and being sold into..this must have been Red Rock building their stake. Looks like they see something positive in the large amounts of unexplored land Transit owns. Waaaay oversold from those initial drilling results, which were better than quite a few results I have seen recently from IO explorers. TRH management have been very quiet for the last few months, I have no idea why..there must be something going on, as has been mentioned they have over 3 million in the bank and a sub 6m mc fully diluted. I sense a suprise coming (no ramp intended).
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Hey guys,
Have picked up a few of these too
Mkt Cap is absolutely tiny at these levels, 32m shares @ 14c = $4.5m with $3.6m in cash so an EV of $900k
Good spec Fe projects in Mid West W.A.
But main reason I took a look is Red Rock buying
So many bargains across the ASX at the moment
Have picked up a few of these too
Mkt Cap is absolutely tiny at these levels, 32m shares @ 14c = $4.5m with $3.6m in cash so an EV of $900k
Good spec Fe projects in Mid West W.A.
But main reason I took a look is Red Rock buying
So many bargains across the ASX at the moment
Any more views on this I am thinking about upping my modest stake. It is well down on its highs - but so is everything!
As recent posts have noted it is very quiet with some interesting new buyer action recently. Drilling results look sound and still more to investigate! I'm a little perplexed as to why there is not much interest or noise. Management not trying to blow up the tyres in any way - could be good or bad?
As recent posts have noted it is very quiet with some interesting new buyer action recently. Drilling results look sound and still more to investigate! I'm a little perplexed as to why there is not much interest or noise. Management not trying to blow up the tyres in any way - could be good or bad?
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Am I right in thinking market cap is now well below cash held by TRH?
I'm very new to all this. Does this represent low risk specy? That is if things don't work out and they dissolve the company, will the cash be distributed and those who purchased shares when market cap was lower then final cash reserves end up coming out even?
This doesn't sound right. What am I missing?
I'm very new to all this. Does this represent low risk specy? That is if things don't work out and they dissolve the company, will the cash be distributed and those who purchased shares when market cap was lower then final cash reserves end up coming out even?
This doesn't sound right. What am I missing?
TRH is stirring again.
Changed direction to potash in the US - see recent ann. re target of over 2 billion tonnes at a good % (over 20%).
Lots of director buying recently - and they are waiting for approval for exploration permits (cant recall the ann). If approved, I expect this to move significantly.
One of the directors (Monti) is good friends with Andrew Forrest.
Bit of interest recently and increased volume. Some good early signs, but too early to commit anything substantial for me, still a speccy with tiny m/c. Any thoughts on TRH and potash?
Changed direction to potash in the US - see recent ann. re target of over 2 billion tonnes at a good % (over 20%).
Lots of director buying recently - and they are waiting for approval for exploration permits (cant recall the ann). If approved, I expect this to move significantly.
One of the directors (Monti) is good friends with Andrew Forrest.
Bit of interest recently and increased volume. Some good early signs, but too early to commit anything substantial for me, still a speccy with tiny m/c. Any thoughts on TRH and potash?
