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There was plenty of support for this at 11c. What happened to it? Down to a low of 8.9c today! Is there negative news out or are people just throwing their towels in?
URL - Universal Resources
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People have taken a sudden interest in this stock...up 10%. Good for those who got in at around 9c late last week. Quick bucks.
Anyone know if and when these guys are going to spin off their U assets? I know it's definitely on the table...
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Good news for URL holders (am I the only one here????). They are commencing drilling at their Uranium tenements next to the old Mary Kathleen mine...
http://imagesignal.comsec.com.au/asxdata/20070531/pdf/00725737.pdf
http://imagesignal.comsec.com.au/asxdata/20070531/pdf/00725737.pdf
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The market's funny isn't it. This is old news, they said a while back they were going to start drilling in June.
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This thread has gone a bit too quiet for my liking, so....*bump*. 
Take 2 of the feasibility studies at their Roseby Copper Project will be released to the market this Friday (9th Nov). This will be a preliminary report with a final DFS to be released mid-December.
The project contains 128.54mt @ 0.68% Cu and 0.06g/t Au. (ref: Sept07QR)
The inaugural FS released back in 2006 forecasted capex to be around $338m for a 8mtpa plant to produce 34,000tpa Cu and 14,700oz Au. This included a $48m budget to purchase a brand new mining fleet. Consequently, the FS failed to attract financing, so it was back to the drawing board.
The revised FS due in a couple of days (finally!) will now be looking at an initial 4mtpa operation, with the potential to expand to 8mpta at a later stage using cashflow. Contractors and equipment leasing facilities are also being considered amongst other cut-backs.
The big question now is, can these guys pull it off? I'm leaning more towards a yes, but I guess we'll wait and see...
Take 2 of the feasibility studies at their Roseby Copper Project will be released to the market this Friday (9th Nov). This will be a preliminary report with a final DFS to be released mid-December.
The project contains 128.54mt @ 0.68% Cu and 0.06g/t Au. (ref: Sept07QR)
The inaugural FS released back in 2006 forecasted capex to be around $338m for a 8mtpa plant to produce 34,000tpa Cu and 14,700oz Au. This included a $48m budget to purchase a brand new mining fleet. Consequently, the FS failed to attract financing, so it was back to the drawing board.
The revised FS due in a couple of days (finally!) will now be looking at an initial 4mtpa operation, with the potential to expand to 8mpta at a later stage using cashflow. Contractors and equipment leasing facilities are also being considered amongst other cut-backs.
The big question now is, can these guys pull it off? I'm leaning more towards a yes, but I guess we'll wait and see...
- XStrata has exercised their option in SEEP after much delay which now gives them the opportunity to acquire 51% of the Roseby Copper Project
- CopperCo still has a significant shareholding
- Copper futures are looking more promising
- A billion dollars in the ground, to me, is a waste if it doesn't come out
- The link on their website to the Roseby Copper project is "currently being updated"
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The revised FS is finally out. This is just the initial report with a full DFS report due sometime in December.
"Positive Result for Roseby Copper Project"
"Positive Result for Roseby Copper Project"
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Seems to be getting a bit of action in spite of a luke warm market... All day there seemed to be a few reasonably big buys at the ask in spite of a pretty wide bid bid/ask spread... Everything is in place for this to take off - just need the $$$... Low political risk, operating risk, resource risk is good, and the Cu market doesn't look like its going to go back to sub $2 anytime soon...
Question is: how tough will it be to get the cash for these guys even though the project stacks up decently?
Question is: how tough will it be to get the cash for these guys even though the project stacks up decently
?
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Story in The Australian today.
Full story:http://www.theaustralian.news.com.au/story/0,25197,23570633-5005200,00.html
Full story:http://www.theaustralian.news.com.au/story/0,25197,23570633-5005200,00.html
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Hi guys,
took a position on this today at 7.5 cents. With finance for Roseby looking likely it seems to be under valued?
Surely once they announce that they have finance for the project this is going to take off.
In todays announcement it said 'offers of finance received and being reviewed'.
I am in..................JW
took a position on this today at 7.5 cents. With finance for Roseby looking likely it seems to be under valued?
Surely once they announce that they have finance for the project this is going to take off.
In todays announcement it said 'offers of finance received and being reviewed'.
I am in..................JW
I bought into this stock today....
With the finance almost done, the price of copper good and the project forecast returns higher than previously thought this is a good buy.
I am expecting that when the finance is officially announced soon that this stock with go up quick to at least a mid $ value and higher in the longer term.
Any comments?
With the finance almost done, the price of copper good and the project forecast returns higher than previously thought this is a good buy.
I am expecting that when the finance is officially announced soon that this stock with go up quick to at least a mid $ value and higher in the longer term.
Any comments?
tech/a
No Ordinary Duck
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Bought this myself from a technical buy of the breakout of consolidation.
Technically I'd be happy with around 20c
Strong resistance at 10c,15 and 20c
Technically I'd be happy with around 20c
Strong resistance at 10c,15 and 20c
Tading Halt announced this morning.
Hopeful for the announcement to contian details of the project being fully funded, but have the usual hunch that we will be asked to cough up for a portion (better not be all!) of the funding.
Anyone have any feelings on this one? Do they normally Halt a stock for announcements on funding? Only thought they did that for capital rasing type announcements.
Fingers crossed it's all good and we can start the move to producer status.
Hopeful for the announcement to contian details of the project being fully funded, but have the usual hunch that we will be asked to cough up for a portion (better not be all!) of the funding.
Anyone have any feelings on this one? Do they normally Halt a stock for announcements on funding? Only thought they did that for capital rasing type announcements.
Fingers crossed it's all good and we can start the move to producer status.
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Looking good!!!
Exactly the reason i bought this stock a few weeks ago.
Should be interesting to see how we go on the open...............not sure why more people didnt buy into this one?
Bring on Wednesday hey....................
JW
Exactly the reason i bought this stock a few weeks ago.
Should be interesting to see how we go on the open...............not sure why more people didnt buy into this one?
Bring on Wednesday hey....................
JW
Indeed roll on Wednesday.
But what gets me, why Wednesday?
This, the financial package, has been on the cards for weeks, announced a number of times by URL, and anyone wishing to take a 'punt', sorry, a 'sensibly researched, risk assesed' investment on this stock could have done so in the last few weeks. So why do companies go into a trading halt to announce something that I 'assume' is already a foregone conclusion (meaning URL will have all the detail signed and sealed but just need to announce to market)? Why not just 'put it out there'? I took a financial risk knowing if no funding, or capital raising, I expect to lose money, if funding is agreed I hope to make money.
Anyone know the rules around these type of announcements, if there are any?
But what gets me, why Wednesday?
This, the financial package, has been on the cards for weeks, announced a number of times by URL, and anyone wishing to take a 'punt', sorry, a 'sensibly researched, risk assesed' investment on this stock could have done so in the last few weeks. So why do companies go into a trading halt to announce something that I 'assume' is already a foregone conclusion (meaning URL will have all the detail signed and sealed but just need to announce to market)? Why not just 'put it out there'? I took a financial risk knowing if no funding, or capital raising, I expect to lose money, if funding is agreed I hope to make money.
Anyone know the rules around these type of announcements, if there are any?
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Well the announcement came out this morning. It wasn't quite what most of us expected, but nonetheless positive - a $30m bridging facility in the form of a floating rate note with a 12 month maturity.
No doubt financing will be a blend of debt and equity - so assuming a debt-to-equity ratio of 60/40, URL will need to be trading at $0.30 before they can double their share registry to raise $80m or thereabouts. They should then be able to draw down the remaining $120m in senior debt and pay back the bridging facility at maturity.
This package effectively buys them some time to achieve this (without further dilution) and hopefully provides URL with some spice in it's promotions, by means of advancing the project and building confidence amongst new and existing shareholders.
If the above assumption is anywhere close to being correct and URL are successful in implementing this, then we should at least see a three-bagger over the coming months. This $30m company, IMO, is already significantly undervalued at this stage of the game and compared to its peers. It's market cap should be made up of 9 digits so I don't really see $0.30 as being a difficult target to reach.
I think it's merely a case of past performance coming back to bite them, but I can sense they now have their heads screwed on right.
Let's also not forget the potential support of XStrata through acquiring 51% of the project (or 100% of URL for that matter!).
No doubt financing will be a blend of debt and equity - so assuming a debt-to-equity ratio of 60/40, URL will need to be trading at $0.30 before they can double their share registry to raise $80m or thereabouts. They should then be able to draw down the remaining $120m in senior debt and pay back the bridging facility at maturity.
This package effectively buys them some time to achieve this (without further dilution) and hopefully provides URL with some spice in it's promotions, by means of advancing the project and building confidence amongst new and existing shareholders.
If the above assumption is anywhere close to being correct and URL are successful in implementing this, then we should at least see a three-bagger over the coming months. This $30m company, IMO, is already significantly undervalued at this stage of the game and compared to its peers. It's market cap should be made up of 9 digits so I don't really see $0.30 as being a difficult target to reach.
I think it's merely a case of past performance coming back to bite them, but I can sense they now have their heads screwed on right.
Let's also not forget the potential support of XStrata through acquiring 51% of the project (or 100% of URL for that matter!).
Hi Alphman, could you please expand on this part of your post (I'm kind of new to all the figures part of investing)...
I kind of get the debt-equity ratio but get lost in the .30c trading to raise 80m part and how these figures are derived. They have a fully diliuted registery of 428.5 million shares @ .075c makes market cap of around 32m.
So at a .30c trading price that makes 128.5m market cap. So, to double the registry to 857 million shares, are you implying a notional capital raising with a 1 for 1 ratio at an indicative figure of say .20c raising 85m?
And I hope that part of your post is also accurate, even after today's slide! Having had small investments in OXR, PNA, and CUO, that paid off nicely I'm hoping this is the next copper miner to make a statement on the ASX.
Cheers.
I kind of get the debt-equity ratio but get lost in the .30c trading to raise 80m part and how these figures are derived. They have a fully diliuted registery of 428.5 million shares @ .075c makes market cap of around 32m.
So at a .30c trading price that makes 128.5m market cap. So, to double the registry to 857 million shares, are you implying a notional capital raising with a 1 for 1 ratio at an indicative figure of say .20c raising 85m?
And I hope that part of your post is also accurate, even after today's slide! Having had small investments in OXR, PNA, and CUO, that paid off nicely I'm hoping this is the next copper miner to make a statement on the ASX.
Cheers.
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Hi Fitzroy,
You're absolutely spot on. The figures I used were approximates, but based on 344,022,378 FPO's as per their latest Appendix 3B and $200m to finance the Roseby Copper Project.
Therefore assuming 60:40, we get $120m debt and $80m equity. I have also assumed in order to raise this equity they would have to do a 1 for 1, which means it needs to be done at $0.24...at the least. Then you have to cater for any discounts in the placement, fees, increases to capex since DFS, and general "working capital" which no doubt they will need, so a simple and round figure of $0.30 will do...
You're absolutely spot on. The figures I used were approximates, but based on 344,022,378 FPO's as per their latest Appendix 3B and $200m to finance the Roseby Copper Project.
Therefore assuming 60:40, we get $120m debt and $80m equity. I have also assumed in order to raise this equity they would have to do a 1 for 1, which means it needs to be done at $0.24...at the least. Then you have to cater for any discounts in the placement, fees, increases to capex since DFS, and general "working capital" which no doubt they will need, so a simple and round figure of $0.30 will do...
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Hi all, sp and volume has been increasing steadily over the past couple days suggesting there's some substantial accumulation occurring. Today alone shares exchanged hit a record high equating to a total of 78.5M.
Universal Resources Ltd has substantial tenement holdings in major base and precious metal provinces located in Mt Isa and Lachlan Ford Belt. There major asset is the Roseby Copper project which is also one of the largest undeveloped open pit copper resources in Australia, equivalent to 128M tonnes of JORC compliant resources of primarily copper, including gold. The company currently has a market cap of only 9.9M and money in the bank. As metal prices have been improving, particularly copper, this resource is becoming increasing attractive to mine. The co. is currently in negotiations to finance the operation. There's also speculation that UCL is a potential take-over target. Xstrata or Cape Lambert are possible contenders?
Strap on your seatbelts as this story unfolds. This is a very speculative play but the potential upside looks massive. Certainly a 'mega-multi-bagger' if things go forward.
cheers!
N.b. My posts are for entertainment only so PDYOR
Universal Resources Ltd has substantial tenement holdings in major base and precious metal provinces located in Mt Isa and Lachlan Ford Belt. There major asset is the Roseby Copper project which is also one of the largest undeveloped open pit copper resources in Australia, equivalent to 128M tonnes of JORC compliant resources of primarily copper, including gold. The company currently has a market cap of only 9.9M and money in the bank. As metal prices have been improving, particularly copper, this resource is becoming increasing attractive to mine. The co. is currently in negotiations to finance the operation. There's also speculation that UCL is a potential take-over target. Xstrata or Cape Lambert are possible contenders?
Strap on your seatbelts as this story unfolds. This is a very speculative play but the potential upside looks massive. Certainly a 'mega-multi-bagger' if things go forward.
cheers!
N.b. My posts are for entertainment only so PDYOR
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I got in this morning and out this arvo. Large sellers appeared and saw that as a sign of exhaustion.
Announcment to ASX quiry yesterday indicated no more news than previously published and that negotiations may take some time for current development, but one for the watch list with me.
Must thank Sagitar for alerting to a good day trade for me.
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