SFR - Sandfire Resources

[asx256]

Is any body watching this one?
Drilling Update for Borroloola Yannarie & Doolgunna should be out soon.

 

[asx256]

looks good so far. will post a chart tomorrow

 

[Sweet Synergy]

If this passes through current resistance at .70 with some good vol then this may be a nice trend reversal. the last few days vol has been up but not outstanding. (chart shown is weekly)

 

[JnrTrader]

Not much interest at all in SFR, im becoming a fan of this one, they have a brilliant project that just keeps getting better and better in their Doolgunna gold-copper mine.They have gone on a huge run and are trading around the $100m market cap, wonder if their huge rise has more legs

 

[spectrumchaser]

Hi JR Trader,
A lot of interest in this stock on another forum "Hot ......er".
I have held this stock since May last year when Posco
took a major holding.Posco's interest appeared to be
Manganese exploration.

 

[DVEOUS]

This would have been a nice earner to get into only 8 weeks ago.
Kudos to anyone who saw this coming.

Ahhh... hindsight.

 

[3 veiws of a secret]

For the contributors of this thread I just wished you could have informed me to buy this share when the price per share was ripe for picking!
Need to research before I stick a BUY on it for myself.
Thanx

 

[panikhide]

For the contributors of this thread I just wished you could have informed me to buy this share when the price per share was ripe for picking!
Need to research before I stick a BUY on it for myself.
Thanx

3 views,

Maybe the question to ask is whether anyone knows of anything similar - a company with a great project that was massively oversold in the last year, but which has not yet begun to recover after March.

And another thing, that logarithmic part of the graph has not stopped moving upwards. It might retrace for a day or two before surging onward once again. You might not double or triple your money as others here have done, but you may be in for a tidy profit nonetheless.

 

[spectrumchaser]

Dveous
Kudos to anyone who saw this coming.

3 Veiws of a secret
just wished you could have informed me to buy this share when the price per share was ripe for picking!

panikhide
Maybe the question to ask is whether anyone knows of anything similar - a company with a great project that was massively oversold in the last year, but which has not yet begun to recover after March.


Hi guys this was a surprise discovery I doubt wether many saw it coming.The first announcement of exciting drill results was April 30th.

If you are looking for "buy indicators" then Posco must have thought SFR had some handy tennements to take a 20% holding.

There are probably many explorers that the GFC has knocked back to under 20c a share ,working out which ones have a reasonable chance of " taking off" is the problem !

A short potted history of Sandfire:

Sandfire listed in early 2004 with a package of essentially grass roots prospects - all in Western Australia, except for the Boorooloola zinc-lead-manganese prospect in the Northern Territory.

The company was put together by one of Western Australia's best known and respected geologists the late Graeme Hutton. His son John sits on the Sandfire board.Chairman Miles A Kennedy 23 years experience at senior levels within Australian-listed Resource Companies; co-founder of Kimberley Diamond Company NL and Blina Diamonds NL.


Korea's Posco Agrees to Buy 19.9% Stake in Australia's Sandfire

May 5 2008 -- Posco, Asia's third-biggest steelmaker, agreed to buy a 19.9% stake in Australian minerals explorer Sandfire Resources NL for A$7.2 million ($6.7 million).Posco will buy 16.5 million shares at 40 cents each


Simich told MineWeb that the company had been exploring an oxide discovery( with Gold mineralisation) at Doolgunna and decided to drill out into a previously-untested area and, at the recommendation of technical director John Evans, to drill deeper.(extract from Mine web 19/5/9)

Spec is a holder of SFR

 

[panikhide]

Wow - I thought there might be a bit of resistance at $2, but it looks like its going to charge on through. I'm starting to regret putting in that sell order.

 

[3 veiws of a secret]

I day traded this share for the 1st time on friday ,& to be truthful I was as nervous as all the other hard traders. The 50K lines bobbed from $2.29>$2.38 ,although I did buy in at $2.27, $2.30 and $2.29 selling everytime at $2.35'ish I survived .
This share seems resilent when the All Ords drops ,apart from the hard traders who dump on the hat . For those who sold there shares @ lower levels ,must be asking themselves 'is this another Paladine ' scenario ,or is it about to burn south. Hmmmmm either I missed the text/announcements on start up production date,( but if not) it still offers interesting day trading temptations.
My immediate concern is will it finance my holiday trip to Sri Lanka or Syria this summer ?

GOOD LUCK !

 

[3 veiws of a secret]

Well SFR did it go ex-entitlement today
??.....for those who hold plse read the announcement dated 22/7/09 & this one...........suppose thats why the lull .

24 July 2009
Dear Shareholder
NON-ROUNCEABLE ENTITLEMENTS OFFER OF SHARES
On 22 July 2009 Sandfire Resources NL (Sandfire or the Company) announced a 1 for 10 pro rata non-renounceable entitlements issue to shareholders.
The Company’s current issued securities are as follows.Number Class Quoted
84,570,415 Ordinary fully paid shares
11,975,529 Ordinary contributing shares paid to $0.0001 with $0.15 payable
Unquoted
2,000,000 Options exercisable at $0.50 expiring 30/9/2011
840,000 Options exercisable at $0.35 expiring 7/2/2011
1,420,000 Options exercisable at $0.40 expiring 8/8/2011
6,000,000 Options exercisable in three tranches at $0.60, $0.80 and $1.00 respectively
expiring 12/7/2013
1,000,000 Options exercisable at $1.40 expiring 6/7/2012
The Entitlements Issue will be offered to shareholders on the basis of one new share (New Share) for every ten shares held at the record date, at an issue price of $1.20 per New Share,to raise up to approximately $11.6 million before costs. Based on the Company’s current issued share capital, the Entitlements Issue will result in up to 9,654,595 New Shares being issued,
increasing the total issued share capital on completion of the Entitlements Issue, assuming it is fully subscribed, to 94,225,010 shares. Fractional entitlements to New Shares will be rounded down to the next whole number. There is no minimum subscription under the Entitlements Issue.
If existing eligible options were exercised by the Record Date, the maximum number of New Shares that could be offered under the Entitlements Issue would increase from 9,654,595 to
10,633,595.
The New Shares will rank pari passu with the Company’s existing ordinary shares from the date of their issue.Sandfire also announced 31 July 2009 at 5.00pm (WST) as the Record Date for the purposes of determining shareholders entitled to participate in the Entitlements Issue.The Entitlements Issue is not underwritten, but Argonaut Securities Pty Ltd has been appointed to act as advisor and broker to the issue and will be entitled to a fee of 1 percent of the gross amount raised under the Entitlements Issue (plus GST).An Offer Document containing further details of the Entitlements Issue was lodged with ASX on 22 July 2009 and will be despatched to all eligible shareholders on 5 August 2009. The Offer Document and Appendix 3B relating to the Offer are available on ASX website (company
announcements section, ASX code SFR) at www.asx.com.au.
If you are eligible and wish to participate please read the Offer Document when you receive it and carefully follow the instructions contained therein. The Offer is expected to close at 5.00pm
(WST) on 19 August 2009.
24 July 2009
2 | P a g e
The Company intends to apply the funds raised to accelerate the drilling activities at the Doolgunna Project, with a view to testing the overall extent and scale of the mineralisation defined to date at the DeGrussa and adjacent Conductor 1 prospects and commencing in-fill resource definition drilling this year. The funds raised will also enable the Company to meet its ongoing expenditure commitments and progress exploration activities across the balance of its exploration portfolio, which includes manganese, iron ore, base metal and gold exploration projects in Western Australia and the Northern Territory. However, the priority for the Company will be to allocate a majority of its resources to the Doolgunna Project in the short to medium term.
A summary of key information and offer timetable are set out below for your information.
Summary of key information
Type of offer Non-renounceable pro rata entitlement issue to
shareholders of up to approximately 9,654,595 shares
Offer price: $1.20 per share
Offer ratio: One New Share for every ten existing shares held at
the Record Date
Amount to be raised: Approximately $11.7 million
*Timetable
Offer Document and Appendix 3B lodged with ASX 22 July 2009
Notice of Issue sent to Shareholders 24 July 2009
“Ex” Date 27 July 2009
Record Date 31 July 2009 (5.00pm WST)
Despatch of Offer Document and applications open 5 August 2009
Closing Date (acceptances close) 19 August 2009 (5.00pm WST)
Anticipated despatch of statements 27 August 2009
Normal (T+3) trading starts 28 August 2009
*Dates subject to change and indicative only. Sandfire reserves the right to amend this timetable
including, subject to the Corporations Act 2001 (Cth) and the Listing Rules of ASX, the right to
extend the Closing Date.
If you are eligible and wish to participate in the Offer, it will be necessary for you to complete
your personalised Entitlement and Acceptance Form, which will accompany your copy of the
Offer Document, in accordance with the instructions contained therein before the Closing Date.If you require further information please contact the Company during normal working hours.
Yours faithfully
J Mathie
COMPANY SECRETARY

 

[Silus]

I'm in on this one too. Sold u bunch before the 2$ resistance though. Waiting for a better moment to buy some more again...

 

[3 veiws of a secret]

I'm in on this one too. Sold u bunch before the 2$ resistance though. Waiting for a better moment to buy some more again...

I have been shuffling selling share all day ,it seems to be on the decline .... Nervous ? not yet !

 

[spectrumchaser]

Second drilling rig to start on site.
Still very early days with only the first drill results analysed.Stacks more drill results due out over the next
two months.


Happy holder of SFR

 

[3 veiws of a secret]

I wonder if Keith Moon would have called SFR " Led Zepplin" today....its going somewhere today....way down deep SOUTH
PS cannot fathom the reason though ( was but-not a holder just yet!)

 

[johannlo]

Because the traders have had their fun and am leaving the carcass?

Over the top analogy I know but like all speccie runs the buy-on-potential sentiment has eventually run out and the stampede for the exit door has started. And like all share price runs its a bit of a self fulfilling prophecy as we all know you can't fight the market, just go with it.

Look at the depth if you're not already convinced.

Waiting on sidelines for support to be established. Still like this company (just not for $2 at this stage of development)

 

[3 veiws of a secret]

Because the traders have had their fun and am leaving the carcass?
Over the top analogy I know but like all speccie runs the buy-on-potential sentiment has eventually run out and the stampede for the exit door has started. And like all share price runs its a bit of a self fulfilling prophecy as we all know you can't fight the market, just go with it.
Look at the depth if you're not already convinced.
Waiting on sidelines for support to be established. Still like this company (just not for $2 at this stage of development)

Of course.....
If you noticed the punters where still game to put 10K lines down ,me thinks it's a big risk with not much upside at present even when the Market is up 65+ points. Kept well away from the share today but tweeking the sonor for the positive bleep! You sort of get the feeling some traders tried hard to prop the price up but just no quality BUYERS taking the bait

 

[berbouy]

hi 3 views-there was a bit of an article in the west australian today, musing about this stock-seems that the general market would like to see a resource figure, or more than just the stream of drilling results-doolgunna maiden resource expected by years end?

 

[3 veiws of a secret]

hi 3 views-there was a bit of an article in the west australian today, musing about this stock-seems that the general market would like to see a resource figure, or more than just the stream of drilling results-doolgunna maiden resource expected by years end?

You said it perfectly "Musing" that's why everybody is walking on eggshells -so to speak......
Again I hold no shares in SFR but have held a few parcels for no longer then 45 mins.
( I'm just like Errol Flynn~simply 2 stroke Buy and sell
Best to holders .........TAKE CARE