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Jay

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Everything posted by Jay

  1. Jay

    EXS

    In reply to: neuchatel on Wednesday 03/09/08 09:25am i would expect fox davies to upgrade target price given this news today.
  2. Jay

    EXS

    another article out ExcoinAsiaMiner.pdf
  3. Jay

    EXS

    In reply to: Financial Chatter on Thursday 28/08/08 11:17am fantastic read, just need the market to wake the F up now lol
  4. Cheap Uranium Leverage JRL; Buy up to $0.75 Jindalee Resources is a junior explorer that provides significant leverage to emerging uranium company, Energy Metals. In addition the company provides low cost exposure to a range of early stage exploration opportunities, and has a number of investments in listed ASX resource companies. “Energy Metals is making good progress in its assessment of the Bigrlyi uranium project and its major shareholder, Jindalee Resources, provides excellent leverage to potential corporate activity.†Investments Jindalee holds a range of investments in listed ASX companies with a current market value in excess of $50m. The vast majority of this value is associated with its investment in Energy Metals, which represents a controlling 39.9% stake. This figure has been adjusted since our last report due to a major option expiry. Theoretically, the current share price for Energy Metals of around $1.05 translates into $1.47 of value for Jindalee Resources, before considering any value associated with the other investments and exploration assets. While a holding discount invariable applies to major investments this level of discount appears excessive. However, this situation has persisted over an extended time frame – much to the frustration of Jindalee’s management and major shareholders. So what catalyst will change this situation? The obvious answer is corporate activity. The level of frustration for management has clearly reached the point where it is prepared to consider delivering control of the company into an attractive bid. This is demonstrated by Energy Metal’s appointment of Gresham Advisory Partners to undertake a strategic review of the company’s funding and development options, in order to ensure that shareholder value is maximised through the transition to producer status at Bigrlyi. We anticipate that this process is likely to achieve material progress before the end of the September quarter, with the obvious potential strategies being: delivery of majority control into a takeover (the most likely option) distribution in specie of the Energy Metals shares to Jindalee shareholders dual listing of Energy Metals on the Canadian TSX market Members are referred to our most recent report on Energy Metals for an update on the good progress being achieved at Bigrlyi. Meanwhile, the medium to long term outlook for uranium prices has improved somewhat following an announcement from the world’s largest uranium producer, Cameco, outlining further challenges at the Cigar Lake development project. Cigar Lake is located 660km north of Saskatoon, Saskatchewan, Canada and is the world’s largest undeveloped high-grade uranium deposit, with proven and probable reserves of more than 232 million pounds U3O8 at a stunningly high average grade of 19%. Project construction began in January 2005 and it was originally scheduled to be completed in early 2008. However, in October 2006 the underground mine was subject to a major flooding incident, forcing the joint venture to abandon its development activity while the water inflow was sealed and the mine dewatered. The first phase of the remediation plan involved drilling holes down to the source of the inflow and to a nearby tunnel, pumping concrete through the drill holes, sealing off the inflow with grout and drilling dewatering holes. Subsequent phases included dewatering the mine, ground freezing in the area of the inflow, restoring underground areas and resumption of mine development. Most recently management had hoped to commence production in 2011. However, on 12 August 2008 Cameco reported that remediation work at the No.1 Shaft was again suspended after an increase in the rate of water inflow to the mine was observed. Other Jindalee Activity Jindalee continues to generate a broad range of grassroots exploration opportunities, many of which are being advanced through joint venture funding arrangements. The main projects include: Yilgangi gold (JRL 20% free carry) Joint venture partner Newcrest continues to aggressively explore this project, achieving encouraging results from shallow drilling, such as: 21m at 1.0g/t gold from 53m in NHRC030 23m at 1.6g/t gold from 56m in NHRC031 22m at 1.4g/t gold from 51m in NHRC037 41m at 1.4g/t gold from 39m in NHRC044 Results from deeper diamond drilling are awaited. Murchison (JRL 20% free carry, plus 23.5% interest in Alchemy) Joint Venture partner Alchemy continues to work up its gold targets in the Murchison area, as well as acquiring a resource of 131koz gold at the Three Rivers project (with potential to be toll treated at Barrick’s Plutonic mill). Bow River (JRL 100%) Geophysical EM surveys are planned to commence in September to better define potential drill targets for nickel sulphide deposits. Joyners (JRL 20% free carry) Joint Venture partner Golden West has outlined an Inferred Resource of 9.2mt at 60.5% Fe at the Joyners West project. The market value of Jindalee’s investments is currently in the order of $51m, which represents around $1.47 per Jindalee share. This compares to the current Jindalee share price of $0.75. Discussion and Recommendation Jindalee’s current enterprise value of negative $26m is a substantial discount to the market value of its investments before ascribing value to its exploration opportunities. Jindalee is actively seeking to redress this market anomaly. Stock Resource recommends Jindalee Resources as a Buy up to $0.75 for Members with no current exposure.
  5. Jay

    EXS

    In reply to: Financial Chatter on Friday 22/08/08 04:37pm any idea when this report is due and where i will be able to get my hands on a copy FC?
  6. Jay

    EXS

    Ivanhoe neighbours not fazed about being in the spotlight From HighGrade.net by Michael Quinn, 18 August 2008 ROBERT Friedland with his new Australian scrip in hand and a smorgasbord of Australian companies suffering decimated share prices looks a recipe for M&A action. Two Cloncurry copper contenders stand out as possible target, though neither professes any great concern at the prospect. Exco Resources and the controversial CuDeco are the two in question, with both holding advancing copper project’s not far up the road from Ivanhoe Australia’s large landholding in the region. Ivanhoe Australia is Exco’s major shareholder with a 19.99% stake, with the two also having an exploration joint venture covering ground contiguous with Ivanhoe’s existing projects around the Selwyn district south of Cloncurry. Exco is cashed up and busy adding to its resources near Xstrata’s depleting Ernest Henry operation, with a bankable feasibility study for a project yielding 25,000 tonnes per annum of copper in concentrate due to be completed early next year. However, despite the advanced project, credible feasibility work and exploration results this month that the company indicated are among the most significant recorded to date, market traction in the current environment is proving difficult to achieve. This week Exco appointed London-based Fox-Davies Capital as its “international capital markets advisorâ€ÂÂÂÂÂ, with a brief to increase interest in the budding copper miner currently capitalised at about $A75 million. Exco managing director Michael Anderson denied the company was concerned with Ivanhoe Australia’s emergence. “It’s not a concern, we’ve always known that this was more than a possibility and rhetoric in the press suggests it’s not only a possibility but (Ivanhoe Australia’s) firm intention to use their scrip as currency,†Anderson told HighGrade. “Our only concern is the ratio that any bid gets struck at. “We’re not concerned about getting involved [in takeover actions], everything is for sale at a price. But, looking at fundamentals we’re not alone in thinking we’re undervalued at the minute in this market. With the progress we’re making, with the money we’ve got in the bank and the news flow that lies ahead it’s up to us get that value back into the company. “But if a (bid) process starts now chances are we could get taken out for what we’d all consider to be an opportunistic price. That’s our only concern. “Because it’s where you start these processes that are perhaps the most definitive aspect of any deal. If a bid gets launched with your share price say at A30c, which we are today, somebody can kid you on that 45c is a 50% premium. But six months ago we were trading at 45c with a lot less information and a lot less substance about the company you could argue than we have now.â€ÂÂÂÂÂ
  7. Jay

    PPP

    In reply to: towie on Friday 15/08/08 09:21am Anyone know when the full year results will be announced and should we expect a dividend of a cent or two? they certainly have the cash for it now.
  8. Jay

    EXS

    Excellent news today. I am expecting a bid from Ivanhoe or XStrata in the coming weeks. News from today attached. EXS_E1_Extension.pdf
  9. fwiw, DML +19.8% last night... Cameco Cigar Lake date pushed out further due to more flooding that they can not seem to rectify.
  10. Jay

    THX

    SIGNIFICANT SULPHIDES INTERSECTED AT KELLER CREEK NICKEL-COPPER PROSPECT Thundelarra is pleased to report that six out of seven reverse circulation drill holes recently completed at the Keller Creek nickel-copper prospect intersected massive to strongly disseminated sulphides. Keller Creek, located seven kilometres northwest of Panoramic Resources’ Savannah Nickel Mine, is part of the East Kimberley Joint Venture between Thundelarra (40%) and Breakaway Resources Limited (60%). The prospect hosts a system of nickel-copper sulphides within a mafic intrusion that to date has been poorly explored. Previous wide-spaced drilling had generated a number of intersections in the range of one to two percent nickel, including diamond drill hole LEKD0022 which returned 6.77 metres at 1.98% nickel and 0.53% copper from 36.8 metres down hole. Sulphide mineralisation has now been intersected at Keller Creek over a strike of 600 metres and at up to 300 metres down dip and remains open in all directions. The mineralised zone at Keller Creek has a larger footprint than both the Copernicus and Savannah deposits, however additional drilling will be required to determine the continuity of individual massive sulphide intersections. Assays for the latest drilling are yet to be received. Details of sulphide intercepts logged by Breakaway and a drill hole location plan are appended. The next phase of exploration will be determined when assay data is available. Thundelarra is also pleased to report that reverse circulation drilling programs have recently been completed at the Mabel Hill nickel (THX 80%) and Sophie Downs base metals (THX 90%) prospects. Both programs intersected significant sulphide mineralisation providing further encouragement in relation the potential of these two prospects. Assay results are expected within two weeks, after which further evaluation will be scheduled. ASX ANNOUNCEMENT 30 JULY 2008 Thundelarra Exploration Ltd ABN 74 950 465 654 ACN 085 782 994 For further information regarding Thundelarra Exploration Ltd contact: Brett Lambert Managing Director or Brian Richardson Director of Exploration Phone: + 61 8 9321 9680 Fax: + 61 8 9321 9670 Website: www.thundelarra.com Email: info@thundelarra.com.au Registered Office: Suite 2, Level 3, IBM Building 1060 Hay Street, West Perth Western Australia 6005 PO Box 7363, Cloisters Square Perth Western Australia 6850
  11. Jay

    EXS

    attached RSAugust08LRExco.pdf
  12. Jay

    THX

    THX presenting in Freemantle tomorrow at Uranium Conference. Freemantle_Uranium_2008.pdf
  13. Jay

    EXS

    Aegis Report out Overnight. Valuation 78c. EXS_Aegis.pdf
  14. Jay

    THX

    We are AWAY imo!! looks so good chart and depth wise... perhaps some lab results have been whispered about Mabel Hill
  15. Jay

    THX

    In reply to: Jay on Thursday 26/06/08 12:05pm Copernicus NPV is about $30mill also or about 25cps. Sum of the parts equals about 85c imo and you get all the exploration assets for free. We should be somewhere above $1 by now. Market is stupid though. Oh well, when they WAKE up we will be laughing.
  16. Jay

    THX

    In reply to: wolverine on Thursday 26/06/08 11:45am add in the approx $10mill in cash wolv... makes it look even more compelling...
  17. In reply to: wolverine on Thursday 19/06/08 01:54pm massive upgrade to project economics there wolv. oh yeah, weren't Gresham and Partners the guys who married up SMM and PDN... EME management wanting EME share price to be fully realised. Have they got a bidder in the wings i wonder....
  18. Jay

    THX

    We're away!! UMC breaking to new highs, THX still lagging a little but looking excellent imo.
  19. Jay

    THX

    In reply to: Jay on Sunday 15/06/08 06:03pm PS, I think you are forgetting the couple of people who taught you most of what you know and if had not have been for those you probably would not still be in the game... just a thought on some humility. A few wins on that CFD rubbish certainly doesnt make you a pro, but good luck with it all the same.
  20. Jay

    THX

    In reply to: romaioi on Saturday 14/06/08 08:11pm Roma Good luck on the CFD front. With respect to JRL I was talking about the il/liquidity issue after it had turned and the embedded value in JRL was still much much higher then the share price at the time. My basis that it would go to $3+ was that the company had told us that they had been approached for EME take over and that the value should have come out of the stock when that happened. Technically though, it was pretty overbought above $2.50. There was a buyer for 400k at the $2.20 mark for a couple of weeks so getting out of your tiny position was never a problem should you have wanted to. When you own a decent stake it is prudent to chip some out along the way, which is what i did. Anyway I didn't sell any once it had turned, and contrary to your opinion that it was my 112,500 shares for sale at 95 the other week, I was actually the buyer who took him out. I have the contract notes to prove it should you wish to see them.... Back on the THX front, are you getting back in or this it for you?
  21. Jay

    THX

    QUOTE (romaioi @ Thursday 12/06/08 10:15pm) yeah, took most of my jrl off the table above $2, but have reloaded some recently around 90-95c area. Also been buying EME of late too. Not sure where you think I have been selling whilst telling others to buy?? Care to comment?? Good luck with the CFD's, take the money and run. Thats a mug's game.
  22. Jay

    THX

    In reply to: AgentCooper on Wednesday 11/06/08 11:07am grossly undervalued mate. in today's open briefing it states that UMC stake will be sold at a premium also. Makes THX even more compelling. I have been topping up at this level. THX is going above $1 this year imo. Open briefing attached. THX_Open_Briefing_June_11.pdf
  23. Jay

    THX

    In reply to: Jay on Tuesday 10/06/08 08:01am ps, what have you been trading to make all that cash all of a sudden??
  24. Jay

    THX

    In reply to: romaioi on Tuesday 10/06/08 12:25am Been mostly buying mate.
  25. Jay

    MRE

    In reply to: walbrook on Monday 09/06/08 06:30pm price of nickel dropping has put most nickel producers under pressure.
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