Australian (ASX) Stock Market Forum

BMB - Balamara Resources

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Acquisition of Isabella Minerals Pty Ltd
Appointment of Director
The Board of directors is pleased to announce the appointment of Mr Derek Lenartowicz as Managing Director in conjunction with the acquisition, subject to shareholder approval, of Isabella Minerals Pty Ltd from Mr Lenartowicz.
Mr Lenartowicz was previously Managing Director of View Resources Ltd, a company which he grew through the development of the Carnilya Hill Nickel Mine and the purchase of the Bronzewing Gold Mine. Prior to View Resources, Mr Lenartowicz held senior positions within WMC Limited and North Limited.
Isabella Minerals has been established to pursue mining opportunities, initially in New South Wales. Ground applied for totals approximately 85 square kilometers and encompasses the Isabella Copper Gold prospect and the historical Porters Retreat copper/gold mine and consists of ELA 3081. The project is located approximately 60km south of Bathurst, NSW.
The consideration for the acquisition of Isabella Minerals is the issue of 25,000,000 shares in Sultan at a deemed issue price of 1.5c each and the grant of 25,000,000 options exercisable at 2c on or before 31 December 2010, subject to shareholder approval.
In conjunction with the appointment of Mr Lenartowicz, the Board has resolved place 45,000,000 shares at 1.5c each to investors to raise gross proceeds of $675,000. These funds will be used for general working capital and be applied to Isabella Minerals ground.
A notice of meeting will be issued in due course seeking shareholder approval to acquire Isabella Minerals.
With the appointment of Mr Lenartowicz to the board, Mr Warner has resigned from the board.
Ian Hobson
Company Secretary


Does anyone have any more background on who is behind this one or what sort of history Isabella's grounds entail? $7 million market cap on a company described on comsec as Technology Hardware and Equipment ??
 

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Re: SSC - Sultan Corporation

Have just found top 20 share holders. All the familiar names from Ascent Capital reconstructrions. Tisia Nominees, JK Nominees, Roger Steinpreis, Elliot Holdings, TM Consulting.
 
Joined
May 1, 2006
Posts
561
Reactions
0
Re: SSC - Sultan Corporation

Mick looks to have broken out,although this is up for discussion-tradingroom shows the highest for the year before todays close as .024 but bigcharts says .029/Volume has picked up the last few days since ann.Could be another case of back the jockey.
 

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Re: SSC - Sultan Corporation

Mick looks to have broken out,although this is up for discussion-tradingroom shows the highest for the year before todays close as .024 but bigcharts says .029/Volume has picked up the last few days since ann.Could be another case of back the jockey.
I think your right Alan. I see resistance was at 0.025cents and now 0.025cents seems to be support. If it breaks 0.026cents should hit next resistance at 0.029. Damn I must learn how to post charts.
 

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Re: SSC - Sultan Corporation

Has completely broken out today. Up 25% on 13.5 million volume and gone into trading halt after close. Something brewing with this one. Mr Lenartowicz is MD & was previously MD of View Resorces. Both he and Mr Warner have obviously something cooking with either Isabella Minerals or something extra. Hope some of you checked it out and had a dabble with this one. Good luck those that did.
 
Joined
May 1, 2006
Posts
561
Reactions
0
Re: SSC - Sultan Corporation

Mick i have indeed dabbled after you brought it to the boards attention-Thanks.What got me on was the people involved,some of YTs previous posts about Ascent made it worth a punt.Earlier ann about placement being fully taken up was good to see,although from memory price was pretty low.What do you expect from the ann and will you hold
 

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Re: SSC - Sultan Corporation

Mick i have indeed dabbled after you brought it to the boards attention-Thanks.What got me on was the people involved,some of YTs previous posts about Ascent made it worth a punt.Earlier ann about placement being fully taken up was good to see,although from memory price was pretty low.What do you expect from the ann and will you hold
Alan I think because the recent placement was closed fully subscribed there is no possibility of a share issue.
It is most likely either an acquisition or maybe further information from the Isabella copper gold prospect and the historical Porters Retreat copper and gold mine. Maybe historical data or previous samples from drilling.
Lenartowicz was previously Managing Director of View Resources so there should be some good industry connections there.
 

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Re: SSC - Sultan Corporation

Acquisition of the Peelwood Zinc/Copper Project
The Board of Directors is pleased to announce that the company has entered into an agreement to acquire The Peelwood Zinc Project containing the John Fardy zinc deposit from Andanak Explorations Pty Limited.
The Peelwood Project consists of EL2934, EL6081 and EL6082 that are located approximately 70 kms south of the City of Bathurst in eastern New South Wales.
The John Fardy deposit is located on freehold land that is not subject to native title and is well situated for infrastructure.
The Peelwood zinc project has several old mines and prospects with zinc-rich volcanics-hosted massive sulphide-style mineralization.
The John Fardy deposit is at an advanced stage of exploration and there are numerous diamond drill hole intersections of massive sulphide mineralization with zinc, copper and silver grades.
The consideration for the acquisition is the payment of $1 million and the issue of 30,000,000 shares in Sultan at a deemed issue price of 1.5c each and the grant of 15,000,000 options exercisable at 2c on or before 31 December 2010, subject to shareholder approval.
The purchase is subject to due diligence by Sultan.
The Managing Director Derek Lenartowicz said: “We will be announcing the historic drilling results shortly. As the first step in the project, we will conduct a drilling programme which will allow the conversion of existing resources to meet the JORC standard of reporting”
A notice of meeting will be issued in due course seeking shareholder approval to acquire these tenements.
Ian Hobson
Company Secretary
 

hangseng

Gong Xi Fa Cai
Joined
Mar 19, 2007
Posts
1,069
Reactions
2
Re: SSC - Sultan Corporation

I like what I am seeing here. The historic Zn/Silver workings have a remarkable resemblance to the old (highly profitable) Mt Garnet workings that KZL brought back online a few years back. New techniques and a Jorc resource will see this going positive in my view.

Not far from Bathurst, infrastructure already in place, no native title or environmental concerns and low number of shares on issue.

Watch this very closely, a double thumbs up for this one.
 

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Re: SSC - Sultan Corporation

I like what I am seeing here. The historic Zn/Silver workings have a remarkable resemblance to the old (highly profitable) Mt Garnet workings that KZL brought back online a few years back. New techniques and a Jorc resource will see this going positive in my view.

Not far from Bathurst, infrastructure already in place, no native title or environmental concerns and low number of shares on issue.

Watch this very closely, a double thumbs up for this one.
14.7 million shares cross traded at 3.2cents. Volume today so far 32million this one is rapidly being accumulated. I love what I am seeing here i hope a few of you got in early on this one.:D :D :D
 

hangseng

Gong Xi Fa Cai
Joined
Mar 19, 2007
Posts
1,069
Reactions
2
Re: SSC - Sultan Corporation

14.7 million shares cross traded at 3.2cents. Volume today so far 32million this one is rapidly being accumulated. I love what I am seeing here i hope a few of you got in early on this one.:D :D :D
Yes wasn't that XT a sight to watch Mick? Thrilled to bits with this and can't believe I didn't see it coming but still in early.

An a 1million buyer just took out 3.6. Volume now 39million

Sellers drying up rapidly, what a sight:eek:
 

mickqld

Trying not to become toast.
Joined
Jan 8, 2007
Posts
219
Reactions
0
Re: SSC - Sultan Corporation

Historical grades for John Fardy
27.8 g/t Ag, 1.86% Cu, 1.5% Pb, 11.5% Zn - indicative.
175,975t.
Looking to upgrade and expand.

Peelwood mine:
227g/t Ag, 25.4% Zn - inferred.
 
Joined
May 21, 2007
Posts
14
Reactions
0
Re: SSC - Sultan Corporation

I for one is holding it =) I can see potential in this one. Report should blast this baby off. Chart looking very nice.

1126497.png
 
Joined
Feb 23, 2007
Posts
165
Reactions
0
Re: SSC - Sultan Corporation

hi all
i was wondering if people thought this one was still intressting to buy after the last 5 days
also i don t realy understand if i look at the graph, that SSC was at 90$ once

i m a bit new at this this:eek:
thanks
 

hangseng

Gong Xi Fa Cai
Joined
Mar 19, 2007
Posts
1,069
Reactions
2
Re: SSC - Sultan Corporation

hi all
i was wondering if people thought this one was still intressting to buy after the last 5 days
also i don t realy understand if i look at the graph, that SSC was at 90$ once

i m a bit new at this this:eek:
thanks
Sultan is a newly reconstructed shelf company. The new MD is a director of MKY Hugh Warner. The historical amounts shown are irrelevant now.

You can either go in now at a low sp or you could wait for the announcement of the Bathurst resources and new EPLA's. It must be stated there is risk attached and this is a speculative stock. A risk I personally have assessed and was prepared to take and enter low.

Choice is yours.
 

hangseng

Gong Xi Fa Cai
Joined
Mar 19, 2007
Posts
1,069
Reactions
2
Re: SSC - Sultan Corporation

Sultan is a newly reconstructed shelf company. The new MD is a director of MKY Hugh Warner. The historical amounts shown are irrelevant now.

You can either go in now at a low sp or you could wait for the announcement of the Bathurst resources and new EPLA's. It must be stated there is risk attached and this is a speculative stock. A risk I personally have assessed and was prepared to take and enter low.

Choice is yours.
When you have a moment just have a look where Peelwood actually is. You will see why the zinc and silver grades are so high. Interesting times for this low mkt cap stock. It seems Hugh Warner has chosen location very carefully.
 
Joined
May 21, 2007
Posts
14
Reactions
0
Re: SSC - Sultan Corporation

Another positive high for SSC today, hitting .042 cent, with nice support volume. Stage 2 Uptrend, positive positive!
 
Joined
Feb 23, 2007
Posts
165
Reactions
0
Re: SSC - Sultan Corporation

i had a order @ 0.034 but i didn't take it ... only a couple of thousends in
front of me....:banghead: :banghead:
what a bummer
anyway i realy like the volume increase of this one
and maybe there will be some profit taking tomorrow were i can get in
i m gonna try at 0.036
 

hangseng

Gong Xi Fa Cai
Joined
Mar 19, 2007
Posts
1,069
Reactions
2
Re: SSC - Sultan Corporation

i had a order @ 0.034 but i didn't take it ... only a couple of thousends in
front of me....:banghead: :banghead:
what a bummer
anyway i realy like the volume increase of this one
and maybe there will be some profit taking tomorrow were i can get in
i m gonna try at 0.036
Profit taking occurred today and it still went up.

With a stock in a steady uptrend you are taking a risk of missing completely. A few points of a cent means nothing in this scenario imo. The bigger picture you will make a lot of money regardless.

I wasn't taking any chances with this and just placed an at market order on the uptrend and damn glad I did. I could leave right now and take a tidy profit but I think SSC has a lot more to give yet in the short term. Long term this is looking like a major retirement fund.


Good luck though.
 

hangseng

Gong Xi Fa Cai
Joined
Mar 19, 2007
Posts
1,069
Reactions
2
Re: SSC - Sultan Corporation

Well looking at yesterdays trading, despite a generally down day, and the slackening of the sell depth this morning I believe we may have another step up today. Buyers building at .038 and .039 now.

A lot of interest in this and I am not surprised.
 
Top