Well there you go, a thread on GRV. Yes, very tightly held, and a little bit of buying today after 60minutes report last night. I hold.Surprised there's nothing on this. Mentioned on one or two other threads (eg Grace et al)
Mkt Cap = 26.7m shares fully diluted @80c = $21m M.C.
Resources = 6 to 11 billion barrels of oil shale,
Owned in about 3 land parcels, cross-owned with Esperance Minerals (ESM) and East Coast Mineral (ECM), who all also own cross share parcels in each other, with basically same boards/CEO. GRV 3 deposits - Alpha 100%, Nagoorin 50% ESM 25%, Lowmead 25%, ESP 50%, QER holds other 2x25% stakes. BOE have also bought into the projects.
These deposits have been held for a long time, since early 1980s, management has kept running costs exceptionally low, while technology was sought to economically extract the oil. Australia's biggest shale oil deposits. There are 27 technologies being tested worldwide for prod'n of oil from oil shale. GRV is involved in a number of these. Included is a microwave test plant which could be on site April-June 08, subject to Qld govt approval. GRV has sent samples to Global Res Microwave Tech (USA) for testing, they were selected by Time magazine as one of best inventions of the year.
Upside - huge world class deposits, if technology is successful, blue sky potential.
- very low cash burn rate.
Downside - waiting for successful tests to prove it can be extracted economically.
Also a VERY illiquid stock, very tightly held. So much so that Directors recently sold some share parcels to foreign investors for $3. Five times the then current share value 60c.
Bought a few shares for the bottom draw a few months ago.
Yes, can jump around a bit, but on any buying at all, and like yesterday, its can be up 25%.GRV is not too flash today. May be a good thing. I decided to put in a bid for a few as a bottom drawer stock, only 5000. Put in a low bid not expecting it to be filled unless there was a retracement. Decided to put in another for the partner ESM as well. Got them both filled. They are both now on my "accumulate watch list". Now all I have to do is get that kerosene heater and lamps. Then find an old farmall tractor engine that will run on kero for the toyota and I'm set. Roll on $200 oil!!!!!
Esperance Minerals from memory. Don't quote me on it though. ESMCA Esperance Minerals Contributing 10cents as I understand it. Happy to be corrected though. Cheers GraceNioka, sorry I couldn't find this one, whats the name?
Just want to do some DD on them both
bah bah black sheep
Yes that is the one. You have to allow for another contribution when they need more cash. Early days on this for me. I have a lot more research to do. I need to find the right person to give me some inside knowledge. I think I will have to take a holiday in the area and talk to the locals.Esperance Minerals from memory. Don't quote me on it though. ESMCA Esperance Minerals Contributing 10cents as I understand it. Happy to be corrected though. Cheers Grace
On November 13th, 2014, Greenvale Mining NL changed its name to Greenvale Energy NL.
Well if the phone number is still the same, they should be able to use the old stationery stocksOn August 12th, 2020, Greenvale Energy Limited changed its name to Greenvale Mining Limited.