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JMH03

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Everything posted by JMH03

  1. JMH03

    TEX

    been building a solid base around 9.5-11.5c in recent months. A break of 12c should see 16-20c? Interesting to see ex Fat Prophets Andrew Geddes - now at summit equities has a buy on the stock and initiated research coverage.
  2. certainly some interesting buying interest around in recent days. If endocoal got non-binding unofficial 60c bid, I think AQC and its various projects would be a sitting duck? Technically a breach of 4.2c would be positive?
  3. PXS receives positive approval from the EU. Requests further study for children and adolescents, however don't forget physicans will likely perscribe bronchitol off label to this patient group all the same! fantastic news!! im predicting $1.70-$2 on Monday. What a ride it has been...but importantly great news for CF sufferers
  4. JMH03

    TEX

    flow rates must be pretty good for it to go into trading halt!
  5. JMH03

    TEX

    Company have always positioned this asset as the company maker. Comparisons could be drawn to NST's purchase of Paulsens from Intrepid. The two common factors...Chris Rowe being chairman and Investmet backing from early seed of 7c for NST and 3c for TEX. Would love to see TEX north of 50c in a couple of years! The fact they hit both primary and secondary targets are very exciting for the prospects for this field. we are talking 200 to 800 BOPD from fusselman - and 150 BOPD from Wolfberry zones. San Andres formation is the cherry on the fusselman cream on the wolfberry cake! Relative to the $33mil market cap, 64 holes at 40 Acre spacings looks like there is plenty of upside, let alone 128 holes at 20 Acre spacings...
  6. I would have to agree regard your "nothing to see" but from a fundamentals perspective, if AQC appears cheap based on proven resource I would have to say CLR appears expensive in the same breath compared to the likes of AQC and SMR.
  7. Found CLR as an interesting comparison... CLR have a wealth of experience in the Coal industry. CLR's MD Mitch Johnson 35 years in QLD & NSW coal and former head of operations for Anglo coal, Non exec director Rick Gazzard former President of BHP Coal. However you must say Paul Byrne and his team are pretty astute, to pick up the tenements they did, when they did and I have to say there novel approach of off take agreement to neighbouring miners makes sense. CLR's flagship project Grosvernor West currently has a JORC resource of 69.9MT inferred and 21.8 MT indicated coking coal. Total of 91.7Mt. They have exploration for next 12 months targeting a further 30-45MT for the project and proving resource up to indicated and measured. AQC's flagship project is JORC 107 MT coking coal inferred resource at Cooroorah which they are focussing on proving up to indicated and measures as well as potential to increase resource size over next 12 months. Shallow open pit mine. CLR just raised $29 mil through a placement of which $12.8 is flagged for exploration - most of which will be spent on proving up the Grosvernor West project resource to that of measured status prior to feasibility work. This makes me think maybe AQC are potentially going a little light on with $3-4mil planned exploration spend for the next 12 months with only $1.4m for getting Cooroorah up to indicated and then measured. CLR's other exploration tenaments are large in area size, but do not appear as well located as AQC's MT Hillalong and Dingo which have potential for 90Mt coking and around 50Mt thermal respectively - and this does not include a number of other tenemants which are waiting to be granted. CLR report "target" of up 450MT from other exlopration targets - but all so face a number pending approval. To complete the comparison we will look at CLR going to full mine development, rail and shipping. 5 kms to the rail line then 200kms to Port Abbott point. There is also the increased risk of substanial capex, rail and port capacity issues etc It is my understanding given AQC's prime asset location next to the likes of MacArthur Coal, Rio, Aquilla, etc they will have a strategy to "chuck it over the fence" and take a small hair cut in an off-take agreement. I would imagine this strategy will get them to production far quicker than CLR's proposed 2015 timframe. CLR diluted market cap = $280mil AQC diluted market cap = $50mil come funding requirements This is by no means advice, and would welcome any construction critic...
  8. your technical comments are welcomed. Thank you. Does todays price action provide any update to the below?
  9. Current market cap $50 million Cooroorah - 17 kilometres north of Blackwater. Their current JORC resource is 107 million tonnes of metallurgical coal. For In-situ coal resources the following assumptions may be reasonable: $0.50 for thermal coal $1.00 for coking coal At a minimum their current resource supports 2x their market cap. For comparison Carabella (CLR) currently has a diluted market cap of circa $300million with a JORC resource of 91 million tonnes - naturally with near term upside to this number. This provides AQC a free ?option? on all their other projects of which the most significant appear to be; Dingo 3 meter coal seem at shallow depth amenable to open cut. Already has a rail running through their project. Not drilled yet but is located in between of Bandanna ( mt) , Macarthur Coal and Aquila. Mt Hillalong Advanced Exploration stage 22kms West of Rio Tinto Hail Creek Mine Hail Creek runs at 8 million tonnes hard coking coal per annum Drilling this quarter 100 million tonne target These projects are all 100% owned, They have a number of other exploration licences however the above projects are their near term focus. Assuming they drill up 100 m tonnes from both Dingo and Mr Hillalong through 2011 we have a 5 bagger from here.. Fundingand EPC approvals appear short term priorities..whether it be from capital raising or potential part sell down of Cooroorah. ASX query the other day noted "high level discussions with interested parties". 15% of Cooroorah ?? $15mil? who knows.. nonetheless it appears cheap, and is yet to gather much chatter on boards such as this. Which is not such a bad thing i suppose. Not to be taken as advice, simply my general thoughts and comparisons.
  10. JMH03

    TEX

    TEX up 22%, oppies up 18% and looking cheap. Rights issue announced friday (ex 5 April) will enable new investors up until this date the right to buy 1/8 shares at 3c! plus free option...this should help support the stock
  11. JMH03

    TEX

    Investmet placed the stock at 3c in TEX... they took up a large placement of Pegasus (PUN) at 5cents early last year and has since risen to a 52 week high of 40cents Investmet also participated in a very large Northern Star Resources placement early last year at 2cents which have subsequently run to a 52 week high of 45.5cents. Christopher Rowe director at TEX is also director of NST. So in conclusion we have 3 companies supported by some pretty sticky seed investors, and the two recent asset buy ins warrant the re-rating. Buffalo sounds like it has some real blue sky potential. The next AUT...we can dream
  12. JMH03

    TEX

    with oil back to US$101 and a solid move on the DOW overnight, this thing could launch through 10c today. Would be nice to see the 0.5c moves on the TEXOB's!!
  13. JMH03

    TEX

    The BRR below is well worth a listen for those not familar with the story. Buffalo should be drilling around the end of the month... 35-40 well Wolfberry program to kick off in April/May with only 6-8 weeks ot bring each well into production... Plenty of newsflow now in pipeline, lack of newsflow has been an issue for this stock in the past - not now. With oil around $US100, and a market cap of circa $22mil and only circa 200 shares on issue - this thing could move to 15-20c trading range quite quickly. DYOR.
  14. JMH03

    TEX

    Did anyone veiw the announcement yesterday.....a break of 9c , and we are off. Would be great to start seing the 0.5c moves on the head stock. TEX now has existing producing assets - circa $1mil pa revenue 50% interest in 13,000 acres Buffalo project, first drill underway and now 60% interest in 1,500 acres in the Wolfberry which has potential for 40 wells targeting 440m BOE
  15. FDA approval! and probably caught the market by suprise by a qtr or two.....analysts should be upgrading, and I would imagine we will see new highs within a couple of weeks.
  16. JMH03

    TEX

    Last time TEX were trading at 7c, the oppies TEXOB were over 3c.....sure we have lost abit of the time decay, but they should close the gap.
  17. The american CF foundation will support the product into the narrow market via the same centres and physicians who were so supportive of Phase 3. The fact the CF foundation are presenting on brochitol results in their October conference speaks volumes for their view of the success and take up of the trial and a great lauch for distribution. Furthermore, I am not sure whether you are aware of any particulars about the CF market, but the greatest sales force will be the patients themselves. They are already aware of Bronchitol and are eagerly awaiting its arrival to market. It is my understanding that FDA / CE mark approval essentially means automatic reimbursement - it is the level of reimbursement up for question and most analysts are assuming a rate well below pulmozyne despite the trials showing its superiority.
  18. Trading Halt. News should be out tomorrow
  19. JMH03

    BOW

    so AOE in trading halt pending announcment regarding increased bid from Shell/PetroChina. will be interesting to see what the number is but should be over $6 BOW should be at all time highs in no time on the back of this.
  20. JMH03

    AOE

    there was actually a intraday rally on the close on stronger volume on Friday
  21. JMH03

    MEY

    so even at $US2 we are looking at 37c?
  22. JMH03

    MEY

    There we havbe it, a massive 120% increase to resource! 85mil/lbs. now run US$5 across that....woooshca
  23. JMH03

    MEY

    well we should have the numbers this morning!
  24. JMH03

    MEY

    this from another forum; Today Gavin Wendt gave a recommendation on MEY with a $0.36 target. Wendt was former Head of Research and Senior Resource Analyst at Fat Prophets and now has is own service the MineLife Weekly Resources Report. some excerpts The company?s short term plan is to bring the Marenica project into production, with the Scoping Study, due for completion during mid-May 2010, likely to determine the economic viability of the project. One of the key aspects in my view will be the opportunity to more than double the overall head grade of the deposit to around 900ppm through specific ore-sorting methods. This will drastically lower the amount of material to be moved and treated through the plant. With a strip ratio of around 3:1, mining costs should be suitably modest, which in turn will assist with project economics. In my view, an operation producing between 1.5 million ? 2.0 million pounds a year could be justified based on current project parameters Marenica has around 550 sq km of exploration ground that it is endeavouring to explore more expansively during 2010. And what about Marenica from a valuation standpoint? Well, the evidence is truly compelling If we applied what I consider to be a still-conservative in-ground valuation of US$5 per pound, this generates a share valuation of A$0.36 per share. Accordingly, I would recommend Marenica Energy (MEY) as a Buy around $0.16
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