PXR - Palace Resources

[motion]

Hi,

why the big jump in PXR up 13% in 5 minutes... any ideas?

[greggy]

Quote: Originally Posted by motion Hi, why the big jump in PXR up 13% in 5 minutes... any ideas?

[greggy]

I find it amazing with all recent NT uranium floats having done extremely well, yet PXR is still stuck near its issue price. It has a huge landholding next door to NTU in NT yet is still trading quietly. It also has the promising Lake Teague Uranium Project in WA. I've acquired a total of 555,000 options in PXR over the last couple of days as I feel its been well and truly overlooked and has considerable potential. One just has to be patient. Any other views?
DYOR

[greggy]

Last night at 6:00 pm AEST I rang PXR (Tel: (08) 9481 1144) and spoke with Matthew Sullivan, one of PXR's directors. Mr Sullivan, a geologist, has over 17 years experience, including more than 4 years with Cogema, one of the world's largest uranium explorers and producers. He played a key role in assembling PXR's tenements. During our conversation, he informed me that the company's very excited about its projects, especially its Tanami Project which is next to NTU's tenements. There has been some JV interest expressed in relation to this project.
A number of geological targets delineated to date have large coincident uranium radiometric anomalies - including a 7km radiometric anomaly within a palaeo-channel at Lake Teague in WA.
PXR is also seeking uranium projects in West Africa. An announcement was made to the ASX in relation to this on 17 Apr 07.
The company will be doing a roadshow soon in order to raise its profile.
Overall, the impression I have of Mr Sullivan is that he is a well experienced geologist who is focussed on maximising shareholders' returns. He agrees with me that PXR has been well and truly overlooked by the market. Hopefully, the forthcoming roadshow will assist in raising PXR's profile.
Thanks YT for introducing this stock to me.
DYOR

[nizar]

Quote: Originally Posted by greggy Last night at 6:00 pm AEST I rang PXR (Tel: (08) 9481 1144) and spoke with Matthew Sullivan, one of PXR's directors. Mr Sullivan, a geologist, has over 17 years experience, including more than 4 years with Cogema, one of the world's largest uranium explorers and producers. He played a key role in assembling PXR's tenements. During our conversation, he informed me that the company's very excited about its projects, especially its Tanami Project which is next to NTU's tenements. There has been some JV interest expressed in relation to this project. A number of geological targets delineated to date have large coincident uranium radiometric anomalies - including a 7km radiometric anomaly within a palaeo-channel at Lake Teague in WA. PXR is also seeking uranium projects in West Africa. An announcement was made to the ASX in relation to this on 17 Apr 07. The company will be doing a roadshow soon in order to raise its profile. Overall, the impression I have of Mr Sullivan is that he is a well experienced geologist who is focussed on maximising shareholders' returns. He agrees with me that PXR has been well and truly overlooked by the market. Hopefully, the forthcoming roadshow will assist in raising PXR's profile. Thanks YT for introducing this stock to me. DYOR

[alankew]

YT/Greggy do you think it is possible that Areva will cast their eyes over this especially with its proximity to NTU who Areva already have a satke in and aslo in light of what happened re SMM.Dont hold yet but think i will on Monday

[YOUNG_TRADER]

Quote: Originally Posted by alankew YT/Greggy do you think it is possible that Areva will cast their eyes over this especially with its proximity to NTU who Areva already have a satke in and aslo in light of what happened re SMM.Dont hold yet but think i will on Monday

[greggy]

Quote: Originally Posted by YOUNG_TRADER Most certainly, but more so Mega, as they had the door shut in their face re NTU's Tanamai project by Areva, so why wouldn't you then just go next door?

[skegsi]

Quote: Originally Posted by greggy Last night at 6:00 pm AEST I rang PXR (Tel: (08) 9481 1144) and spoke with Matthew Sullivan, one of PXR's directors. Mr Sullivan, a geologist, has over 17 years experience, including more than 4 years with Cogema, one of the world's largest uranium explorers and producers. He played a key role in assembling PXR's tenements. During our conversation, he informed me that the company's very excited about its projects, especially its Tanami Project which is next to NTU's tenements. There has been some JV interest expressed in relation to this project. A number of geological targets delineated to date have large coincident uranium radiometric anomalies - including a 7km radiometric anomaly within a palaeo-channel at Lake Teague in WA. PXR is also seeking uranium projects in West Africa. An announcement was made to the ASX in relation to this on 17 Apr 07. The company will be doing a roadshow soon in order to raise its profile. Overall, the impression I have of Mr Sullivan is that he is a well experienced geologist who is focussed on maximising shareholders' returns. He agrees with me that PXR has been well and truly overlooked by the market. Hopefully, the forthcoming roadshow will assist in raising PXR's profile. Thanks YT for introducing this stock to me. DYOR

[greggy]

Quote: Originally Posted by skegsi Greggy, i realise PXR are at very early stages, but did Mr Sullivan mention what they will concentrate on first? Lake Teague (WA) or Tanami project (NT)? Which would be most likely do you think? Do you know when NTU plan to drill the area directly adjoining PXR's tenements?

[greggy]

PXr's share price has weakened of late on thin turnover. No doubt its management will perhaps bring forward its roadshow in order to make more brokers and investors aware of its various interests. More details of its upcoming exploration program in the Tanami, NT, would also be of interest.
This is definitely one stock that one has to be patient with as it is arguably one of the most overlooked uranium stocks listed on the ASX.
DYOR

[greggy]

Quote: Originally Posted by greggy PXr's share price has weakened of late on thin turnover. No doubt its management will perhaps bring forward its roadshow in order to make more brokers and investors aware of its various interests. More details of its upcoming exploration program in the Tanami, NT, would also be of interest. This is definitely one stock that one has to be patient with as it is arguably one of the most overlooked uranium stocks listed on the ASX. DYOR

[DAZT49]

Good work Greggy. It seems the market is plowing ahead with new record highs and my shares (PXR included) drifting the other way. Seems a long time since they were .45c.
As you say..patience.
Nice pick up on the options!!

[motion]

Quote: Originally Posted by DAZT49 Good work Greggy. It seems the market is plowing ahead with new record highs and my shares (PXR included) drifting the other way. Seems a long time since they were .45c. As you say..patience. Nice pick up on the options!!

[alankew]

Greggy any chance you could stop telling people waht a great buy they are until i buy some options.Cannot believe the price of the oppies and expiry date-you would think they would have some anns before they expire

[greggy]

Quote: Originally Posted by motion DAZT49 -- I feel the same as you.... I'm looking for an news at the moment with PXR I'm not a big share holder but I do have enough invested to feel the downturn of the share at the moment.... Greggy thanks for the update I still think this will take off over time,

[boy_888]

Why would u buy the options, when at the current option price, and a exercise price of 20cents they are considerably out of the money?

[boy_888]

Looking through some activity reports for palace, i noticed that a very substantial chunk of its budget is set for its WA land holdings. Does that make total sense? Shouldn't it be concentrating on exploring in a U friendly state?

[JMcDog]

Why would u buy the options, when at the current option price, and a exercise price of 20cents they are considerably out of the money?

When you consider that the time to expiry is very significant, I believe you should expect the options to be out of the money.... in effect you are paying about a 5c or 6c premium, as of today, to both leverage yourself and yet minimise your risk for about 5 years! In a spec/high risk play the options are surely an excellent choice if you wish to invest in Palace Resources.

[greggy]

Quote: Originally Posted by JMcDog Why would u buy the options, when at the current option price, and a exercise price of 20cents they are considerably out of the money? When you consider that the time to expiry is very significant, I believe you should expect the options to be out of the money.... in effect you are paying about a 5c or 6c premium, as of today, to both leverage yourself and yet minimise your risk for about 5 years! In a spec/high risk play the options are surely an excellent choice if you wish to invest in Palace Resources.