IOD - IODM Limited - Aussie Stock Forums

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  1. #1

    Post IOD - IODM Limited

    Market cap is around $12.4 million on 55,000,000 shares and some oppies. Far East Capital is very actively supporting the company and underwrote a recent placement to raise $1.8 million. The stock is tightly held and is now breaking out of a substantial consolidation pattern.

    Far East is heavily into U shares and PDM has a number of U prospects in Northern Queensland in the Mount Isa area East and North of Mary Kathleen. One of the areas is ex-ERA and PDM have reported significant U results from sampling as well as visible carnotite (yellowcake) in rock considered a host for roll front U over a considerable area. Results from U sampling are due shortly.

    PDM also has a tunsten project that is located near Canberra that hosts a very shallow 35 meter deep JORC resource rated at about 350,000 tonnes at 1% tunsten. PDM has done substantial work on the property and identified a large number of drill targets that they expect to boost the tunsten resource to over 1,000,000 tonnes of ore. They have already drilled some of the targets away from the central deposit early this year (results expected very shortly) and are drilling on extensions of the main deposit in the next few weeks. They claim that they can get a pre-tax profit of $16,000,000 per year for five years on 1 million tonnes. Capital expenditure would be about $15 million to develop an economic mine and sell a 65% concentrate. Operating costs are very low. See their website for more details.

    At a market cap of $12.4 million and cash of +$2,000,000. U get a very tight stock with some hot U prospects in Queensland and a potential mine thrown in for free. The Australian did a write up on PDM last weekend i am told. PDM is extremely cheap at these levels and the technicals look extremely promising, at 22-24 cents the stock is trading near its highs and has the potential to trade much higher on news of succesful tunsten drilling and U assays from Queensland. Far East Capital has been very astute in picking undervalued U stocks. PDM could easily support a valuation of +$20 million just on the current status of its assets based on valuations in its peer group.

  2. #2

    Default Re: PDM - Paradigm Gold

    Thanks Sydneysider for your comments.

    I also think this stock has a bright future.

  3. #3
    hoarding tinned food kennas's Avatar
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    Default Re: PDM - Paradigm Gold

    Not many left under $50m really......

    A Cheap Uranium Explorer?
    FN Arena News - May 03 2007

    By Greg Peel

    There are an awful lot of junior uranium explorers listed on the Australian stock market, the share prices of which have flown to the moon based on perhaps a just few clicks of the Geiger counter. Paradigm Gold (PDM) is not one of them.

    At a mere $11m in capitalisation, and an 18c share price, Paradigm has missed out on the great uranium rush. Maybe it's because everyone thinks it must be a gold miner. But as respected Australian uranium analyst Warwick Grigor points out, Paradigm gave up on gold exploration late last year.

    Far East Capital's Grigor notes Paradigm has adequate working capital at $2.2m after an issue recently. It should be noted at this point that Far East Capital underwrote that issue.

    Grigor suggests Paradigm offers a low cost entry into legitimate uranium exploration in Queensland, where the company is assessing an area near Cloncurry that showed "highly anomalous" uranium sampling when tests were conducted by Energy Resources of Australia (ERA) way back in 1970. Cutting through all the geological mumbo jumbo, it seems the potential resource is "limestone hosted", which is unusual in Australia.

    It's not unusual in Kyrgyzstan, where about 3,500t of high grade U3O8 was recovered from the Malisu mines. Monaro Mining (MRO) has noted a similar geology in one of its licences in Kyrgyzstan, while Deep Yellow (DYL) does have some targets in Queensland but they are somewhat…ahem…deep.

    Says Grigor "Whether PDM actually has an economic deposit will depend on further work – but this is the case with dozens of explorers."

    Paradigm also has another potential site in Queensland – Blue Bush – which is "an interesting oxide-copper-gold-uranium project" which had been previously drilled by the old Conzinc Rio Tinto, which some of you will remember as CRA, back in 1983, and which shows similar geology to the old Mary Kathleen.

    But the other interesting string to Paradigm's bow is its project at White Rock, 120km south of Orange in NSW. Here Paradigm is sitting on an indicated and referred resource of 150,000t at 0.9% WO3 (which is tungsten oxide to you and I). Grigor notes that the value of the tungsten is roughly equivalent to the combined value of the five times larger Wolfram Camp tungsten and molybdenum project being developed by Queensland Ores.

    Paradigm sees potential to lift the White Rock resource to 500,000t or even 1mt which would give it the critical mass to develop a mine. If the project can go to production, Grigor suggests this alone would justify a multiple of the current Paradigm share price.

    Be warned – this is a highly speculative stock that has absolutely no guarantee of ever mining anything. Investors must be prepared to enter with this knowledge in mind. There is always a chance, however, that the stock could be re-rated by the market before any production possibilities are contemplated.

  4. #4

    Default Re: PDM - Paradigm Gold

    Have you noticed the interest last couple of days. Options up over 45% on Friday.

    Keep an eye out next week.

    Results are due.

  5. #5

    Default Re: PDM - Paradigm Gold

    This is one to watch still at a good price.....This report out this morning..


    • Several high grade tungsten and tin drill intercepts have been made at White Rock near Rye Park in New South Wales, including:

    - *12 metres @ 1.54% WO3 and 428 ppm Mo from 6m in WRP037
    - 8 metres @ 1.80% WO3 and 138 ppm Mo from12m in WRP039
    - 4 metres @ 1.0% WO3 and 176 ppm Mo from 23m in WRP040
    - 11 metres @ 0.40% WO3 and 0.16% SnO2 from 30m in WRP026
    - *3 metres @ 0.27% WO3 and 0.44% SnO2 from 23m in WRP016
    * an asterisk marks intercepts within the existing Mineral Resource envelope

    • A tin-rich halo surrounding the tungsten mineralisation has been identified
    significantly adding to the potential of the White Rock deposit. High-grade tungsten as
    scheelite is accompanied by molybdenite, which could also be recovered as a credit.

    • Preliminary gravity test-work to separate tungsten and tin from the ores is underway.

    • Further exploration drilling will be carried out as soon as possible to further define the
    high-grade tungsten ‘feeder’, and tin mineralisation.

    • At the nearby Frogmore base metal prospect an air-core drill program has begun to
    test several IP geophysical anomalies adjacent to the old Frogmore Copper Mine.

    Watch This space..

  6. #6

    Default Re: PDM - Paradigm Gold

    Warick Grigor of Far East Capital has bankrolled this one. PDM has a very interesting U play at Cloncurry, Queensland. A limestone system that overlays a shale "seal" contains U. Think of the shale as a giant bathtub that is filled with a layer of limestone that has over ions of time trapped significant quantities of U which is showing up in field studies where the limestone is exposed to the surface and surface samples are laced with carnotite (better known as yellowcake). Might explain why the sp is turning vertical after heavy accumulation. At 34 cents PDM is worth only $19 million.

    Grigor says the tin/tungsten property may be worth "multiples" of the current sp. The U on this valuation is going for nothing. Very speculative but is definately attracting some serious bidding on the sp. Grigors commentary is available on the PDM web site.

  7. #7

    Default Re: PDM - Paradigm Gold

    nice info sydneysider

    i've been accumulating PDM over the last week,

    best thing about their projects is the small depths required for extraction... this should definitely assist in cost minimisation

  8. #8
    Gurgler's Avatar
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    Default Re: PDM - Paradigm Gold

    Anyone have any insights into why this stock has halved since the last posting to this thread? All that positive sentiment and now this.

    Is anyone out there following this stock - apart from me?

    (aside: it would be interesting to calculate what the ratio of 'good news' posts to 'bad news' posts. Has anyone done the stats?)
    Attached Images

  9. #9

    Default Re: PDM - Paradigm Gold

    Quote Originally Posted by Gurgler View Post
    Anyone have any insights into why this stock has halved since the last posting to this thread? All that positive sentiment and now this.

    Is anyone out there following this stock - apart from me?

    (aside: it would be interesting to calculate what the ratio of 'good news' posts to 'bad news' posts. Has anyone done the stats?)
    Ranks as my worst pick of the year. After Far East did the funding it took a glorious run and crashed out. Market cap is minimal.

  10. #10

    Default Re: PDM - Paradigm Gold


    Encouraging base metal drill results at Frogmore


    • Shallow drilling has upgraded the potential for copper-lead-zinc mineralisation
    associated with geophysical IP anomalies over a 2km strike length at
    Frogmore, New South Wales. Recent drill intercepts include 4m grading 3%
    combined Pb+Zn+Cu from 32m depth above a ‘bullseye’ IP anomaly.
    • Paradigm is continuing to aggressively explore its White Rock tungsten
    project, aiming to update the tungsten Mineral Resource by the end of
    • The next round of RC percussion drilling at White Rock and Frogmore will
    Frogmore Project, New South Wales
    drilling begin early July

  11. #11

    Default Re: PDM - Paradigm Gold

    PDM has certainly taken a fall of late.

    Did have a good rise of think 4c in Nov. last year to mid 30s this year.

    What are the thoughts out there on today's ann?

  12. #12

    Default Re: PDM - Paradigm Gold

    Market doesn't seem to like any of PDM's announcements, each one drives the price down even further, I'm currently down 40% after throwing the kitchen sink at this one,

    I think it is going to take some amazing news to get this moving again.

  13. #13

    Default Re: PDM - Paradigm Gold

    Hang on, Corporal.


    High-grade Copper intercepts in drillhole at Frogmore NSW

    • The Company is pleased to report high grade copper assay results from the first diamond drill hole, FDD001, at Frogmore NSW (EL 6590, 100% Paradigm).
    • The significant copper intercepts in FDD001 are:
    3.3m grading 2.14% Cu from 157.4m to 160.7m
    8.7m grading 1.92% Cu from 250.6m to 259.3m, including 0.95m at 4.8%Cu from 255.95m
    14.8m grading 2.0% Cu from 275.1m to 289.9m, including 0.8m grading 8.3% Cu from 287.6m
    • Of significance to the potential tonnage of the Frogmore copper deposit is the broad interval from 245m to 289.9m, which returned 44.9m grading 1.17% Cu. The results are
    plotted in a cross section in Figure 1.
    • Minor spotty gold mineralisation occurs with the copper up to 1.1g/tAu, but most assays are below 0.01g/t Au. Silver mineralisation occurs with the copper up to a maximum of 38g/t Ag. Other base metals such as lead and zinc are low.
    • Copper mineralisation occurs as chalcopyrite in veins within altered volcanic and sedimentary rocks associated with pyrrhotite and pyrite.
    • The second and third diamond drill holes FDD002 and FDD003 have now been completed to target depth. These were drilled 40m either side of FDD001and drilled to 350m and 336m, respectively. Visible chalcopyrite mineralisation has been observed, but visual estimates of the copper mineralisation appear less strong than FDD001 in both holes.
    • The Company believes these drill results are significant given that mineralisation is open in all directions, and that several other copper prospects immediately adjacent remain untested – see map in Figure 2. Drilling has now stopped, but will recommence once the full assays are received and results have been assessed.

  14. #14

    Default Re: PDM - Paradigm Gold


    Frogmore Copper Project (EL 6590), NSW

    • Compilation of geological data from the 3 recent diamond drill holes at Frogmore has
    resulted in a new interpretation of the major mineralised structures.
    • The copper structure intersected in the company’s first diamond drill hole (FDD001:
    8.7m grading 1.92% Cu from 250.6m to 259.3m, including 0.95m at 4.8%Cu from 255.95m;
    14m at 2%Cu from 275.1m including 0.8m at 8% Cu) is believed to have been intersected
    in the second and third diamond holes, approximately 60m either side of the first hole.
    It was initially thought that the mineralisation trended north-south parallel to the old
    mined lodes. However the drill results suggest a northeast-southwest structural trend
    which was previously unrecognised (see attached map - Figure 1).
    • The new interpretation is significant because mineralisation along this copper structure
    is open in both directions and at depth. High-priority drill targets exist up-dip of the
    diamond drill intercepts near to surface, in particular adjacent to the old Frogmore
    copper workings (see long section – Figure 2).
    • Assays are pending for diamond drill holes FDD002 and FDD003. Strong chalcopyrite
    mineralisation was observed in both holes over widths of between 5 and 10 metres.
    Photographs attached show some of the high-grade chalcopyrite in these holes.
    • The Company recently announced that drilling would cease until all assay results have
    been assessed. However in light of the latest interpretation, Paradigm plans to utilise
    the percussion drill rig that will shortly commence work at White Rock, to first drill at
    least 3 holes to test shallow copper targets at Frogmore (see long section – Figure 2).
    • Paradigm has applied for a new Exploration Licence immediately north of the Frogmore
    EL 6590 tenement to cover the old Federal Copper Mine located 10 km north of
    Frogmore. The old Federal Copper Mine was described in early 1900s geological reports
    but has seen no modern day exploration. The new tenement will increase the strike
    length of 100% controlled Silurian-Ordovician rocks prospective for copper and tungsten
    to 55km. Numerous base metal showings are known along this trend (Figure 3).

    White Rock tungsten project (EL 6274), NSW

    • Resource drilling at the White Rock tungsten project is scheduled to commence very
    shortly. A minimum program of 18 percussion holes (approximately 600m total) each to
    a maximum depth of 50m is planned. The Company expects to be able to recalculate the White Rock tungsten Resource prior to the end of this calendar year.

  15. #15
    Gurgler's Avatar
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    Default Re: PDM - Paradigm Gold

    Prior to the end of the calendar year" indeed:

    Ann today:

    • An Inferred Mineral Resource of 260,000 tonnes at 0.7%WO3 and 0.15%SnO2 at White Rock has now been calculated on 54 drill holes.
    • The new Resource represents a 75% increase in tonnage on the previous estimate with only a minor decrease in tungsten grade, with tin reported for the first time. Almost two thirds of the Mineral Resource lies within 30 metres of surface. A scoping study to assess the project economics is to be initiated immediately.
    • Mineralisation is open to the north, and further potential to expand the resource exists beneath current drilling levels. Further RC drilling is scheduled for Q1 2008. Metallurgical tests are expected shortly for the two most abundant skarn types.

    Don't know the quality of the grades, but close to the surface for easy access. Long overdue reaction in SP.

  16. #16

    Default Re: PDM - Paradigm Gold

    Robin Bromby | January 28, 2008
    The Australian

    Tungsten drought

    WHICH is very timely. Another tungsten up and comer, Vital Metals, commissioned independent metal marketing company GBRM to assess the tungsten market.

    Since a mine was reopened in Canada in 2005, no new significant production has come on the market and none is likely until 2009, the report says. Yet China's increased demand has been running at 15 per cent a year since 2002, and that country is limiting exports from its mines.

    Ammonium paratungstate, the form of tungsten after chemical processing of concentrates, is fetching up to $US25,000 a tonne and is heading towards $US30,000/tonne.

    Other tungsten plays to watch (apart from Hazelwood)include Kasbah Resources with a tin-tungsten project in Morocco; Hawk Resources, which plans to start work at Callie Soak in Western Australia once it gets the exploration licence; Paradigm Metals, which now has an inferred resource at the White Rock project; and Minemakers, which said earlier this month its earlier statement of tungsten grades in Tasmania had erred on the down side.


  17. #17

    Default Re: PDM - Copper Announcement

    ASX Release

    Frogmore: Shallow copper intersections increase potential

    • Eight percussion drill holes were recently completed at 3 prospects in the Frogmore copper district NSW, with assays pending

    • Best intercept: 1-5% chalcopyrite over 10m (visual) from 60m depth at ‘Pride of Frogmore’

    • Mineralisation open along strike, further drilling planned in June08 quarter

    Sp - 7.3c

  18. #18
    Gurgler's Avatar
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    Default Re: PDM - Copper Announcement

    Quote Originally Posted by moneymajix View Post
    ASX Release

    Sp - 7.3c
    Sorry, Moneymajix, what did you mean by this? Are you thinking of this as a longer term share price projection - if so what time frame?

  19. #19

    Default Re: PDM - Paradigm Gold

    Hi Gurgler

    Not sure what you are getting at.

    It's an announcement.

    Take from it what you will.

    All the best.

    sp - 7c

    PS: If you have an interest in this stock maybe you can enlighten me to possible future price movements?

  20. #20

    Default Re: PDM - Copper

    For those interested in the copper potential of PDM.


    04:15PM PDM - Frogmore: Shallow Intersections Increase Copper Potential - Mr Graham Carman, Managing Director

    MD is excited by the potential for multi-million tonnes of high grade copper.

    Located in NSW.

    Share price - 7 cents.

    PS: Gurgler

    Re-reading your post I see what you mean.
    That and more would be nice.
    It has been in the high-30s in the past (quite some time ago).
    Multi-millions tonnes of economic copper could do it!

    Assay results due in a couple weeks re u.

    Last edited by moneymajix; 19th-March-2008 at 02:31 PM.

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