• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

EMT - eMetals Limited

Discussion in 'Stocks 0-H' started by System, Aug 27, 2010.

  1. System

    System Administrator

    Posts:
    2,917
    Likes Received:
    49
    Joined:
    Jun 27, 2010
    West Peak Iron (WPI) has entered into two agreements to purchase a 90% interest in several tenements prospective for iron ore, located in the Mid-West region of Western Australia. Settlement of these agreements is conditional on the Company raising a minimum of $2,500,000 and obtaining conditional approval to list on ASX on or before 31 October 2010.

    The two main projects in this group of tenements are the Santy Well Project and the Pinyalling Project.

    http://www.westpeakiron.com.au
     
  2. JimBob

    JimBob

    Posts:
    230
    Likes Received:
    3
    Joined:
    Oct 10, 2006
    Re: WPI - West Peak Iron

    Ive been doing a bit of research into West Peak Iron recently who are building up a portfolio of tenements prospective for Iron Ore in Western Australia and recently Liberia in Africa.

    Shares on issue: 24,000,001 of which 15,150,001 are tradeable and 8,850,000 are in escrow
    Also a total of 17,500,000 20c and 30c options expiring June 2013.
    Current market cap at 22.5c share price is 5.4 million with $1.8million in the bank.

    They have recently acquired two exploration licenses and four reconnaissance licenses in Liberia which are close to existing infrastructure and existing iron ore deposits. They are currently underway on a mapping and rock chip sampling program with the aim of identifying targets to drill later in the year if successful.

    They have a number of tenements in WA which are prospective for iron ore and other base metals and have applied for furthe tenemants at Santy Well, Nandee,
    Bulga Downs and Ti Tree. The Bulga Downs application is 10km away from the Cashmere Iron Ore deposit.

    Although West Peak has a low market cap, they are building up a portfolio of tenements which may contain iron ore or other base metals. Good results from their current mapping program in Liberia could see some good gains with the low market cap. Their current priority seems to be in building up their tenemant portfolio but it could be one to keep an eye in later on the year.
     
  3. tigerboi

    tigerboi

    Posts:
    1,203
    Likes Received:
    0
    Joined:
    Jun 13, 2007
    Re: WPI - West Peak Iron

    i have had a look at WPI & i like the potential they have in their ground,still they have

    a long way to go...i would like to hear what others think about the chances of WPI...TB
     
  4. JimBob

    JimBob

    Posts:
    230
    Likes Received:
    3
    Joined:
    Oct 10, 2006
    Re: WPI - West Peak Iron

    WPI has had a great run in recent weeks. They have received the results from a aeromagnetic survey over their Iron Ore prospects in Liberia and look to have a mixture of magnetite and DSO over a combined 58km of strike. An exploration target is due out later this month ahead of their maiden drill program.

    Only 27 million shares on issue and a market under $10 million.


    [​IMG]
     
  5. DB008

    DB008

    Posts:
    3,863
    Likes Received:
    219
    Joined:
    Jul 9, 2006
    Re: WPI - West Peak Iron

    Up around 7% today.

    I might wait for a pullback before jumping on it.
     
  6. mr. jeff

    mr. jeff

    Posts:
    882
    Likes Received:
    0
    Joined:
    Dec 14, 2009
    Re: WPI - West Peak Iron

    They look prospective and I think the hot air is yet to build properly. Not that I am saying they won't have a resource, but that if IO remains solid then once the target is announced and drilling begins, the sp may start to fire up, given the area, the history and the market cap. I wanted an entry as they sat down about 1% for most of the day with very little action, but failed to enter due to being stupid.

    23-02-2012 5-36-54 PM.png

    Where will action come from next - will it settle and drift or will the buying return - or was it all fluff ?
     
  7. JimBob

    JimBob

    Posts:
    230
    Likes Received:
    3
    Joined:
    Oct 10, 2006
    Re: WPI - West Peak Iron

    WPI now in a trading halt pending exploration results from Liberia. This should be the exploration target - will be good to find out just how much IO they could be sitting on.
     
  8. Fantasy09

    Fantasy09

    Posts:
    17
    Likes Received:
    0
    Joined:
    Feb 19, 2012
    Re: WPI - West Peak Iron

    The results are either so good or so bad, it went from trading halt to suspension. Interesting to see how the market will react come Friday.
     
  9. DB008

    DB008

    Posts:
    3,863
    Likes Received:
    219
    Joined:
    Jul 9, 2006
    Re: WPI - West Peak Iron

    Yes, this will be interesting.

    24-48 hours till announcement from today (7th).
     
  10. Fantasy09

    Fantasy09

    Posts:
    17
    Likes Received:
    0
    Joined:
    Feb 19, 2012
    Re: WPI - West Peak Iron

    "180 Mt to 300 Mt grading 20% to 65% Fe and 645 Mt to 1,075 Mt grading 20% to 40% Fe".

    1,375 Mt total would equal to ~9 years the current BHP capacity and ~27 years the current FMG capacity. Not bad for a small iron ore company. At ~$130 per ton would equal to ~$179 billion worth of iron ore. SP jumps 14% at close. Interesting to see how the market react on Monday.
     
  11. JimBob

    JimBob

    Posts:
    230
    Likes Received:
    3
    Joined:
    Oct 10, 2006
    Re: WPI - West Peak Iron

    Only 10 minutes of trading after the announcement so Monday will be a better indication of the market reaction. If they can prove up a high grade dso resource in their estimated range then the market cap looks very low. Hope the drill rig hits the ground sooner rather than later.
     
  12. System

    System Administrator

    Posts:
    2,917
    Likes Received:
    49
    Joined:
    Jun 27, 2010
    On March 18th, 2016, West Peak Iron Limited (WPI) changed its name and ASX code to Corizon Limited (CIZ).
     
  13. System

    System Administrator

    Posts:
    2,917
    Likes Received:
    49
    Joined:
    Jun 27, 2010
    On January 22nd, 2020, Corizon Limited (CIZ) changed its name and ASX code to eMetals Limited (EMT).
     
Loading...

Share This Page