TRH - Transit Holdings

[macca]

I thought I would add TRH Transit Holdings to the list.

Very speculative as it is early days yet, but with the mania for Iron Ore and the huge area TRH has, with such a small market cap, any success could have big results.

If you go to their prospectus, you can see an experts opinion on their leases. Quite close to a PMM mine which means that infrastructure is not too bad.

Warning : Very Speccy, DD required

 

[sleeper88]

Re: TRH Transit Holdings

SOI: 27.5m
Options: 6.75m
Cash at bank: $2.5m-2.9m
MC: 11m

Recent rock chip samples from Johston Range and Copper Bore projects

Sample Fe % SiO2 % Al2O3 % P % LOI %
JR001 62.82 2.03 1.00 0.07 6.81
JR002 61.86 1.21 0.42 0.03 9.30
JR007 61.42 4.17 1.57 0.08 6.25
JR004 60.75 3.13 1.75 0.15 7.53
JR005 60.65 2.69 2.11 0.05 8.06
JR003 59.42 5.80 4.49 0.06 4.18
JR008 59.30 2.34 2.66 0.05 10.00
JR006 53.59 14.42 0.45 0.06 8.30

TRH holds rights to 45 tenements, totaling 1000 square km. Majority of the tenements are WHOLLY OWNED by TRH. Strike length of over 35 km of BIF to explore and major field work programme has commenced with aim of delineating haematite drilling targets.



Speccy, but potentially multibagger with this MC. Any high grade samples and comfirmation of haematite at Johston Range and Copper Bore projects would send this skyrocketing. Given, their large land holding, one can't rule out a JV with one of the majors, in particular Portman, who has a 8mtpa operation in the area.

 

[jtb]

Morning all,

Sorry no pictures or chart - can't attach anything

Anybody want to cast an eye over this?
Stumbled across it due to a link at uni' and looks very interesting imo.

20million shares + 10 million options listed and 10 million shares unlisted.

Fully diluted MC of $15 Mil atm

Nearly $3 million in the bank

Up to 55 km of DSO (hematite) strike across its tenements with substantial sampling completed with good results. Particularly the lower silica then I've been seeing elsewhere lately
Going from the images on their website the BIF appears over 1km wide so that could be interesting...................

Have had external consultants in to analyse the geology and prospectivity and geophysics team contracted to define the extent of the targets under cover.
Drilling to commence shortly.

They are surrounded by Polaris/Portman so infrastructure is at the door.

I assume going by their name that once an economic resource is delineated then we can expect them to be gobbled up by one of the neighbours

$100 mil MC would see the SP @ $3.50

Particularly like the sound of the executive director's FMG/Anaconda link and going by the ann's they are very proactive since listing in December.

Nice also to see a chart thats not a hockey stick

Have recently regained the share price lvl prior to the second half correction and 40c may well become support.
Looks as though it will go off its brain if somebody wants a few.

http://www.transitholdings.com.au/documents/070921_TARGET AREAS FOR IRON MINERALISATION EXPANDED.pdf

 

[jtb]

OK I'm back

Here are the attachments mentioned earlier.

"Richard Monti, BSc (Hons), Grad Dip Applied Finance & Investment, MAusIMM - Executive Director

Mr Monti has qualifications in Geology (Bachelor of Science with Honours from the University of Western Australia) and Finance (Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia).

He has gained broad experience over a twenty year career working in the technical, marketing and financial fields of the international exploration and mining industry. This experience includes exposure to a number of commodities including nickel, base metals, gold, coal, iron-ore, tin-tantalum, platinum group metals and industrial and heavy minerals.

Richard lead the team that built a 1.8 billion tonne resource base of nickel and cobalt through efficient and innovated resource definition and low-cost acquisition programmes. He also generated the iron ore project for Fortescue Mining in the Pilbara region which has developed into a 2 billion tonne iron ore resource.

He has worked for a number of international and Australian companies including Anaconda Nickel, RTZ Exploration, the North Group, the Normandy Group and Ashton Gold. During a seven year term at Anaconda Nickel he held General Manager positions in technical, commercial and marketing fields.

Two years ago he founded Ventnor Capital Pty Ltd a corporate advisory consultancy which provides technical, marketing and corporate advisory services to junior and mid-cap listed mining and exploration companies.

He has also held positions on the boards of a number of Australian Stock Exchange listed and private mining companies and is currently a Director of Niagara Mining Ltd and Whinnen Resources Ltd"
.
Nice bold statement in the directors blurb re: FMG don't you think?

According to the website the tenements include both exploration and production permits plus an application for mining!!!

 

[jtb]

Got interrupted- new addition is teething

The last two attachments are from an old Polaris ann' and show how the leases border each other and mentions the infrastructure.
Looks as though a narrow section of the 'copper bore' lease is in JV (TRH 57%)

 

[sleeper88]

hey jtb..i bought TRH back in july having done some research on their tenaments...they have significant land holdings and have reported some significant rock chip results. They're planning 2 drilling programs one for late 2007 and one early 2008. As you said, they're right next door to portman's 8mtpa opertions, therefore if they can prove up a sizeable resource, it'll make them a prime takeover target. It's too early to talk about TRH as a potential target. I'm looking forward to the drilling programs, surely it'll be re-rated once drilling starts and results are released. Highly held which means if its gona run..it'll run hard, with the market chasing few shares.

 

[jtb]

hey jtb..i bought TRH back in july having done some research on their tenaments...they have significant land holdings and have reported some significant rock chip results. They're planning 2 drilling programs one for late 2007 and one early 2008. As you said, they're right next door to portman's 8mtpa opertions, therefore if they can prove up a sizeable resource, it'll make them a prime takeover target. It's too early to talk about TRH as a potential target. I'm looking forward to the drilling programs, surely it'll be re-rated once drilling starts and results are released. Highly held which means if its gona run..it'll run hard, with the market chasing few shares.

Hey Sleeper,

Bought a few options on Friday and imagine I'll be able to get a heap of cheapies this week
The comment re: proving up a resource prior to a takeover was simply an extrapolation of their poxy name.

Who names a Iron/Gold company 'Transit Holdings' ..................

The missus wears a beautiful little nugget I got from out that way (never drilled in the BIF though) - so with luck we'll get a little mineralisation mixed in with all the iron

Like the sound of the director/contacts

 

[jtb]

hey jtb..i bought TRH back in july having done some research on their tenaments...they have significant land holdings and have reported some significant rock chip results. They're planning 2 drilling programs one for late 2007 and one early 2008. As you said, they're right next door to portman's 8mtpa opertions, therefore if they can prove up a sizeable resource, it'll make them a prime takeover target. It's too early to talk about TRH as a potential target. I'm looking forward to the drilling programs, surely it'll be re-rated once drilling starts and results are released. Highly held which means if its gona run..it'll run hard, with the market chasing few shares.

Hey Sleeper,

Bought a few options on Friday and imagine I'll be able to get a heap of cheapies this week
The comment re: proving up a resource prior to a takeover was simply an extrapolation of their poxy name.

Who names an Iron/Gold company 'Transit Holdings' ..................

The missus wears a beautiful little nugget I got from out that way (never drilled in the BIF though) - so with luck we'll get a little mineralisation mixed in with all the iron

Like the sound of the director/contacts

 

[jtb]

Morning all, bit of interest coming into Transit this morning - up >30% on the FPO's and options, at the moment

 

[sleeper88]

Morning all, bit of interest coming into Transit this morning - up >30% on the FPO's and options, at the moment

adm
great morning so far jtb, looks like the market is taking notice of this iron ore play..FINALLY ..though i must admit it..they need a name change

 

[lampard]

Trying to get in as well guys, top of the queue at the moment... there's top potential here....but 'Transit Holdings'?

 

[countryboy]

jumped in at 46c and then panicked as i watched the sell side dissappear to 3 sellers so put in another bid to help push it above 50c ohh well i have had a run of missing stocks as they took off. Crap name for an IO miner(potential!) but some good ground. Portman maybe interested if they can't win the courtcase with POL.

 

[jtb]

adm
great morning so far jtb, looks like the market is taking notice of this iron ore play..FINALLY ..though i must admit it..they need a name change

Hey bro',

Yeah I liked the fact that biggest order for the day went through at 48.5c
The sells on the options @ 25c kept getting cleaned up too.

They must have heard us as I see in the ann' today that we'll soon be "Transit Minerals".

"Goldfields Iron" has a certain ring to it I reckon but anything is an improvement.

I like the fact that the directors are all working for options too with only token salaries- this means their in with us in regards to increasing shareholder value- should be more of it I reckon.

Also impressed with the fact that their seeking approval for a cap raising of >10million shares within 3 months of shareholder approval.
This would be expected to come after at least one set of drilling results so we could expect the price may well be north of 50c by then and the minimal dilution will be more than offset by another $5 million in the kitty.

Another 10 million shares would put the MC @ $25 million (@ 50c) and they would have nearly $8 million cash for exploration development, thats alot of drilling and allows them to extend the program without having to watch the purse strings.
I would expect management will be going straight for a JORC resource with this sort of funding

Welcome Lampard.

Countryboy- the sell side disappearing is a good thing mate

 

[lampard]

You guys see the announcement late today?

Those grades are very very good indeed, met with some late buying also.

Looking goooooooooooooooood....

 

[jtb]

You guys see the announcement late today?

Those grades are very very good indeed, met with some late buying also.

Looking goooooooooooooooood....

Morning all,

G'day L, Just read it and I like the shedding superflous leases to focus on the iron idea. These guys are'nt going to fluff around and seem pretty gung ho.
Another nice run this morning too btw.

I had to shed some options to cover HLXO's I bought earlier in the week, it now looks like I'l be paying a bit more for them next time around

Cheers

 

[sleeper88]

Morning all,

Well they sure heard us jtb "Transit Minerals" is an improvement..should increase awareness of the company!

Lampard, the rock chip assay results were released progressively over the year, so the results in the quarterly was just a recap. I guess the market is realising the potential TRH tenaments have now. But what is new in the quarterly is they've sourced a drill rig and all they need now is approvals to commence. 2 drilling programs at Muldoon and Bolger have been submitted for approvals! They're also planning to divest gold assets to focus on iron ore..which is great!

Nice rise this morning

 

[sandybeachs]

rock chip asssys..very hot

a GREAT effort by the company and exploration manager..

count the number of rock chip samples taken from each prospect..

it's not just a handful, it's heaps and i mean heaps. to date 281 rock chip samples have been taken.

looks as though the exploration team spent plenty of time going over the ground.

<img src=http://www.incrediblecharts.com/userscripts/forums/board-post.plx?action=posting_upload_form&what=show&img=1264601>

<img src=http://www.incrediblecharts.com/userscripts/forums/board-post.plx?action=posting_upload_form&what=show&img=1264599>

 

[sandybeachs]

rock chip asssys..very hot

opps that didn't work , anway assay results in recent quarterly pages 9 & 10
==================================================================
a GREAT effort by the company and exploration manager..

count the number of rock chip samples taken from each prospect..

it's not just a handful, it's heaps and i mean heaps. to date 281 rock chip samples have been taken.

looks as though the exploration team spent plenty of time going over the ground.

 

[sandybeachs]

cant believe it has hardly any shares

truely amazing coming across a company that has hardly any shares. and an excellent shares price that when more funds required will have minimal impact.

27.5mm ord's (inc escrowed)

12.9mm oppies.

share price 49 cents (recent high 60 cents).

cash on hand $2.6mm

est cash outflows for next quarter $300k

so in effect perhaps no need for cap raising until 1st quarter 2008...

perhaps the next cap raising could only be approx 5~6mm shares say at 50 cents = $2.5mm ~$3mm. plus the on hand cash $2.3mm.

you'd have approx $5mm~$6mm

that would then be fully diluted approx 46mm shares..

boy is this company going to be tightly held.

the above is not the only good news...

lets not forget the most important thing, it's highly prized assets/projects. for further information on their fantastic assets/projects checkout it's latest quarterly..(especially pages 9,10 & 11).

can you just imagine the shareholder value in 12 months from now...

)

 

[countryboy]

lets not forget the most important thing, it's highly prized assets/projects. for further information on their fantastic assets/projects checkout it's latest quarterly..(especially pages 9,10 & 11).

read the report and agree. given the number of shares on offer this could move quickly. FWL has a tighly held book and often flags in value on a very small volume. TRH has danced around the 40 -50 c mark for the last month. With the announcement of any news i expect the share price to move quickly