TRO Tri Origin Min: zinc, lead, copper, silver

[stolwyk]

TRO - TRI ORIGIN MINERALS LTD: http://www.trioriginminerals.com.au/

1. WOODLAWN UNDERGROUND PROJECT RESOURCE ESTIMATE – SML 20
26 Oct 2006: "Tri Origin Minerals Ltd (“Tri Origin”) is pleased to announce its first JORC(1) compliant Measured, Indicated and Inferred resource estimate for the redevelopment of the Woodlawn Underground Project:

10.1Mt @ 1.8% Cu, 4.0% Pb, 10.2% Zn, 0.55 g/t Au, 85g/t Ag

http://sa.iguana2.com/cache/e9bdf9b39e022a0ca9c6fb9b4c734a18/ASX-TRO-431564.pdf

"A significant proportion of the resource is adjacent to underground workings developed from 1987-1998. The presence and impact of these workings on the conversion of resources to reserves will be considered during the mining study component of the prefeasibility. The Company is confident a positive outcome will result from this study. Detail is provided below.

BACKGROUND The project was considered a key asset of the Company during its ASX listing in 2004. The Woodlawn Project operated from 1978-1998 producing approximately 13.3Mt of high grade ore from an open pit and then underground mine. The underground mine closed due to prevailing low metal prices and corporate reasons".

INSITU VALUATION OF RESOURCES:
There are 76.5 mill shares (76 cents) and 0.5 mill unlisted Nov 2006 options, a total of 77 mill shares. (Excluded are some 5.84 mill unlisted 2009-2011 options).

Latest US $/lb: CU: 3.35; Pb: 0.74; Zinc: 1.93; Silver: $12/ounce. Omit Gold.

Value/tonne US$: Cu: 132.6; Pb: 65.1, Zinc 433.0; Ag 32.7 Total: AUS$ 862/ tonne (A$=0.77 US$), a high value to deliver a solid IRR, IMHO.

Value of the 10.1 mill tonnes insitu resources: AUS$ 8.706 Bill. or per share: AUS$113.0, a very high number, not counting items 2 and 3:

2. LEWIS PONDS
6 Oct 2005: Economic Evaluation of High Grade Resources at Lewis Ponds

http://sa.iguana2.com/cache/ac5b406c34bfc463ddd5174b95639141/ASX-TRO-385131.pdf

The study will consider high grade blocks calculated at a 10% zinc equivalent cutoff grade that may be amenable to extraction by underground mining techniques. These blocks are estimated to contain 1.3 Mt @ 155 g/t Ag, 3.0 g/t Au, 0.2% Cu, 3.4% Pb and 5.0% Zn.

At current metal prices this higher grade kriged resource on an insitu metal equivalent basis equates to approximately 540,000 ozs of gold (ie 12.9 g/t Au), 34 million ounces of silver (ie 825 g/t Ag) or 178,000 tonnes of zinc (ie 13.7% Zn) metal.

The Lewis Ponds deposit is open at depth and, in part, along strike. Previously evaluated lower grade portions of the deposit extend to surface but are not being considered in the current study. Depending upon cut-off grades, resources additional to the deeper higher grade material would also be available for mining.

The Company is also very confident that additional high grade resources would be discovered should a mine be developed and exploration could continue from underground in a more cost effective manner. A positive outcome for the study would provide a pathway to cashflow for shareholders and lead to an underground mining opportunity potentially producing plus 250,000 tonnes per annum of ore.

2.1 Insitu valuation of Woodlawn and Lewis Ponds.

The Insitu value of Lewis Ponds is AUS$0.98 bill. Add that to the AUS$8.7 bill for Woodlawn- and the total is AUS$9.68 bill.

The Chairman mentioned AUS$10 bill for all projects and he could be close by the time the Tailings are included (Item 3 of my previous post).

However, consider just the mentioned AUS$9.68 bill; based on 77 mill shares - See my previous post- that will be AUS$125/share, a very solid profitable backing.


3. WOODLAWN TAILINGS
10 Jan 2006: Retreatment: http://sa.iguana2.com/cache/15d2ed2dfc921db6c99942743e5eaa7c/ASX-TRO-396701.pdf

There ought to be some good profits here-prices are from Jan. 2006.

4. SUMMARY
Drilling to increase measured resources is continuing. At present there are 3 potential sources of income and all are promising. The coming feasibility study of the Woodlawn underground project ought to be a success, IMHO. Share pr

[stolwyk]

LEWIS PONDS - See previous post.

Note that Lewis Ponds is still open, so more ore can be expected. There is talk of bringing that in production as well:
Chairman's annual report:
"The Lewis Ponds Project scoping study provided a positive result. We believe that this project has the potential for a plus 6 year mine life at a production rate of 400,000 tonnes per annum. Lewis Ponds is now reasonably well defined as a singular underground project with good exploration upside within the region".

6 Oct-Announcement:
"The Lewis Ponds study will consider high grade blocks calculated at a 10% zinc equivalent cutoff grade that may be amenable to extraction by underground mining techniques. These blocks are estimated to contain 1.3 Mt @ 155 g/t Ag, 3.0 g/t Au, 0.2% Cu, 3.4% Pb and 5.0% Zn."

COMMENT: The Insitu value of Lewis Ponds is a huge AUS$500.4 per tonne, say AUS$500.
Based on 400,000 per year supply, it is AUS$200 mill/year. (Cu has been omitted).

It will be a stand-alone project.

Finally, a quote from the Chairman's Annual Report:
"As you may be aware the insitu metal value of your Company portfolio of resources and potential resources (Woodlawn tailings) is now dominated by zinc (56%) and copper (22%).
I do not normally like discussing insitu metal parameters but I wish to place the opportunities ahead of us in the correct context so that you as shareholders may ascertain the full potential of your Company. Your Company has:
• JORC compliant zinc dominant resources of 16.7Mt at Lewis Ponds and Woodlawn Underground, as well as potential for a further 10 Mt to be defined for the Woodlawn tailings. We expect to grow this resource potential over time;
• Based upon these estimates your Company has contained metal in resources and potential resources which could exceed A$10 billion; and
• A long term strategy in place to ensure further growth over time by acquiring a significant interest in the Woodlawn District zinc province in its own right as well as with joint venture partners".

Prefeasibility study: Febr 2007.

Subject to audit,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

Comparison of CDU with TRO

Share price: 390;;;87 cents
Shares: 76.44;;; 76.5 mill
Options: 25.6;;;6.34 mill
Fully dil: 102.0;;;82.84 mill

Insitu value (AUS$): 8.870;;;9.680 Bill
Type: Inferred;;; 85% measured or indicative
Insitu: 25 mill tonnes;;;11.4 mill tonnes
;;;;;;; 59 mill tonnes

Ins. value per tonne (AUS$): 150.34;;; 862.0 (0.77). Cu=US$3.35; Pb: US$0.74; Zinc: US$1.93; Silver: US$12/ounce; omit Gold
Insitu Value per undiluted share (AUS$): 87.0;;;116.8
Market Cap, not dilut. (AUS$): 298.1 mill;;; 66.5 mill (Ratio: 4.48:1)
Per AUS$1 Market Cap,not diluted, insitu value: 29.75;;; 145.5 (Ratio: 1:4.89)

Notes: The ASX queried the CDU's inferred resource of 59 mill tonnes and mentioned that instead 25 mill tonnes ought to be used. Above calculations use 59 mill tonnes and this is optimistic.
The UDC resource is inferred while 85% of TRO's resource has been measured or is indicative.

CDU's resource has mainly 2.04% copper. TRO has the valuable 10.2% zinc as well as copper, silver and lead.

TRO also has a considerable amount of tailings, possibly some 10 mill tonnes. These were excluded.
The calculations don't use fully diluted values. Had these been used, then UDC would have 102 mill shares while TRO has 82.84 mill shares.


CONCLUSION: The current TRO share price is too low.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[moe]

The sp has bolted over the past week or so with these announcements, will be interesting to see what it does over the next week or so, issued with a speeding ticket today,

Interesting posts Gerry, Cheers

[stolwyk]

COSTS AND SHARE PRICE

First, I am not suggesting that CDU is overvalued, because per market cap of $1, the Insitu value is AUS$29.75 which is good, particularly for an open cast mine.

Admittedly, I have used 59 mill tonnes while the ASX will only accept 25 mill tonnes and I have not allowed for dilution. Also, the market for TRO's 10.2% zinc/tonne content is much stronger than CDU's 2.04% copper.

Post 1 of this thread gives the Insitu value of the 10.1 mill tonnes of the Woodlawn underground project as AUS$862/tonne. Based on AUS$=0.77 US, that is US$663.74 or 1.1 ounces per tonne (Gold=US$600 on this thread

That is a extremely high number!

While I have dealt with plenty of Insitu examples in the range of US$20-$50/tonne, seldom did I meet anything higher than US$300/tonne with a coupled low share price. And now, we have a massive number!

Some say that the total costs need to be taken into account as this is an underground operation.

Let me state that the underground mine has produced for a number of years but that finally, due to low metal prices and corporate problems (Before TRO took it over) mining stopped. From the website:
"According to ore reserve statements by Denehurst Ltd, the previous operator, and reconciliation of these by Tri Origin with production records, the Woodlawn mine at time of closure in March 1998 had an ore inventory of 0.6 Mt grading approximately 2.5% Cu, 3.0% Pb, 9.7% Zn, 49 g/t Ag and 0.41 g/t Au.

Metal prices at the time of mine closure were Cu USD1772/t, Pb USD570/t, Zn USD1100/t, Au USD301/oz and Ag USD6.50/oz, substantially below the current market. The insitu value of the Denehurst Ltd ore reserve at mine closure was only AUD275/t as compared to AUD700-800/t in the current metal price environment. Importantly, Tri Origin believes that the previous operation was constrained by low metal prices and significantly undercapitalized".

Comment: At much better metal prices, mining presents no problems. As far as the mining cost is concerned, with an Insitu value of the mentioned AU$862 per tonne or say a recoverable volume of AUS$776 (-10%, omit Gold), at such a high value, it is immaterial if the cost is AUS$30/tonne or AUS$60/tonne, bearing in mind that at per high dollar value of the tonnage, this cost as a percentage can only be low: one does'nt need a massive tonnage to make a good profit.

So, the argument of possible high costs is really a red herring, considering underground mining took place for a number of years at very low metal prices.

Conclusion: TRO is very under priced. Even at 4 times the current 87 cents share price, the Insitu value is still a very high AUS$862/4=AUS$215/tonne! That leaves plenty of room for costs, more so while zinc prices are rising.

Gerry

Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

Is TRO a good buy? Yes, IMHO.

And if I had CDU, I would sell it. After all, one would get 4.6 TRO shares for one CDU share and I prefer the zinc/copper/silver TRO stock-See previous posts.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

Now $1.01 (+17 cents).


Was 76 cents 2 days ago. More to come next week?


Gerry

[stolwyk]

Please include:

16 Aug 2006: NORTH WOODLAWN PROJECT JOINT VENTURE (EL5812) TRI ORIGIN MINERALS LTD & UNIVERSAL RESOURCES LTD
http://sa.iguana2.com/cache/44cb01830bac025a06879d922b739fd5/ASX-TRO-421433.pdf

Tri Origin Minerals Ltd (TRO) is pleased to announce that it has entered into the North Woodlawn Project Joint Venture whereby it may earn a 60% interest in EL 5812 from Universal Resources Ltd (URL). EL 5812 is currently held by URL (90%) and private interests (10%). TRO is required to expend $500,000 over a five year period to earn its interest.

The North Woodlawn Project Joint Venture area is contiguous with TRO’s existing tenement position in the Woodlawn District (Figure 1). Upon earning its interest the Company would control approximately 20 kilometres strike length of the prospective Woodlawn Volcanics.

Exploration potential of the tenement as identified by the current holders is indicated by the following: • The Collector-Glen Prospects represent a large hydrothermal system which has lithological and structural features similar to the Woodlawn deposit.

Diamond drilling by previous explorers, in the late 1990s returned encouraging results in CD002 and CD003: CD002: 109.0 m @ 1.8% Zn from 83.2 m (including 6.8 m @ 9.45% Zn from 89.2 m); 20.4m @ 4.0% Zn form 240.3m.

CD003: 81.8 m @ 1.2% Zn from 93.7 m (including 4.3 m @ 4.43% from 103.1 m and 4.6 m @ 5.32% Zn from 138.4 m) Based on the geometry of the intercepts and the drillhole locations the estimated true thickness of the mineralised zone is 40-50m".

[Moonshine]

I feel i need to take this opportunity to urge others to do some thorough due diligence on TRO.

Gerry's figures are very good (meaning realistic), and the market seems to be kind of slow in waking up to this stock.

Only 77 million shares on issue, and the Top 20 hold 76% of these.

It is tightly held, has JORC compliant resources and is severely undervalued.

The comparison to CDU is compelling. Gerry's figures above have used CDU's initial 59 million tonne figure, which the ASX scaled back to 25 million tonnes.

So using the best case scenario for CDU... their JORC Inferred IGV is $8.9Billion, whilst TRO's IGV (85% of which is JORC measured or indicated) is $9.7Billion.

At a current mkt cap of $77million, TRO is severely undervalued... and I can see the current re-rating continuing next week.

Talk about blue sky...

[stolwyk]

Thanks Moonshine.

There is more interest on HC and some handsome gains were made on Thursday and Friday.

I invited CDU holders to change their shares for TRO shares -See date 2 Nov post. Presumably, some did.
Incidentally, because TRO rose to $1.01 and CDU fell, CDU can now only get 3.72 TRO shares per CDU share instead of 4.6 TRO shares on Wednesday night.

They may get less again next week, one reason is because the LME zinc stock pile is collapsing, another is the severe undervaluation of the stock, measured not in cents but in dollars, IMHO. There is a heavy demand for TRO shares.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[moe]

Bolted out of the blocks today, up over $1.30 at one stage.

[stolwyk]

Not all assets have been brought into account. The Woodlawn underground assets, the Lewis Ponds assets have been insitu valued on this thread.

Once the Woodlawn tailings are added, the Insitu value passes AUS$10 bill. Sofar, this value does not include the following 3 items:
1. Additional value from current underground resource worked over in the past in the Woodlawn mine. This is being investigated.
2. The Woodlawn North extension: A 60% is held in the continuation of the Woodlawn project and values are good but more drilling is needed.
3. The 3. The "Overflow" Not referred to before but it is a Gold project with interesting values sofar. It is a JV with Triako.

The projects have base metals as well: http://www.trioriginminerals.com.au/projoverflow.html

TRO is a very interesting stock with much zinc, copper and silver.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

Spoke with TRO.

TRO bought all mineral rights to the Woodlawn deposit from the Administrator.
Denehurst held the Mining lease SML20 and was entitled to the infrastructure and the use of the pit for their waste services business. They sold this right to Veolia and TRO entered into a new agreement with Veolia:
9 Oct. 2006:
"An agreement has been executed with Collex Pty Ltd, now called Veolia Environmental Services (“Veolia”) whereby upon the completion of a positive feasibility, all of SML 20 will be transferred to Tri Origin and the Company will exercise an option to acquire relevant land and where appropriate share existing infrastructure and services. Following the transfer of SML 20 Tri Origin would assume relevant environmental liabilities. Should an economic project not be defined then Veolia would part transfer SML 20 and material environmental liabilities relating to past operations would remain with Veolia.

"The Company is in the process of novating to Veolia the obligations of Denehurst Ltd regarding SML 20 and Tri Origin.
Importantly, the execution of this agreement allows Tri Origin to advance project technical studies knowing that it has the support of Veolia, the land owner of the area and operator of the Woodlawn Waste management and Bioreactor Facility.

"Under the terms of the agreement the Company must complete a feasibility study within the next 18 months and project financing within the next 30 months.
The Company is now in a position to commence a prefeasibility study for the redevelopment of the Woodlawn underground mine.

"Gemell Mining Engineers assisted by SMG Consultants will complete the underground mine design work with geotechnical input provided by Coffey International Limited.
Intermet Engineering Pty Limited of Perth has been commissioned to design the process plant and address infrastructure and services requirements. (Comment: It is envisaged that this new plant will be built in 2008).

"Tailings metallurgical testwork is ongoing and tailings resource definition drilling will commence shortly.
Tri Origin believes that further synergies may exist between Veolia’s site operations and the Company’s vision for Woodlawn.

Tri Origin has completed the modelling of the Woodlawn underground mine extraction and commissioned SMG Consultants to conduct a JORC compliant resource estimate".

Comment: This will put ore into the mining reserve and more work will lead to calculations as to the amount of ore ore to be processed and the IRR ("The rate of return that would make the present value of future cash flows plus the final market value of an investment or business opportunity equal the current market price of the investment or opportunity. also called dollar-weighted rate of return").

TRO agrees that the worked over parts of the mine certainly offers scope for additional ore sofar not included in the Jorc Assessment. They are trying to get another drill.

Workers are expected to travel from a town nearby. So, no accommodation is needed.

TRO struck me with their sincerity and deep commitment. I did mention that they unintentially kept TRO under the radar for too long and that only now this company is enjoying the renaissance.

I also mentioned that considering the high Insitu value per tonne from Woodlawn, I would expect a high IRR.

Subject to audit.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[denpal]

stolwyk,

Do you see any problem with the 51% ownership by the Canadian parent? I guess that would prevent a takeover so in that respect it is positive.

Thinking about this potential, it is truly mind-bending given the current MC and the desirability of the contained metals. The ton value of the rock must be near the best of the best. I wonder how good the management is - do they have the horsepower to get this thing up and running in an optimum way?

It seems like good buying opportunities still exist, look at the weakness on closing today.

Thanks for the good info too.

[denpal]

This is what I like to see DELIVERY OF PROMISES BY MANAGEMENT:

"In reference to the June quarterly report to shareholders the above achievements include all defined priorities for the September quarter".

From the Sept Qtr report.

[stolwyk]

Denpal,

Melbourne cup day produces strange trading patterns. Back to normal, I hope.



LME zinc revs to new high, others stagnate
Tue Nov 7, 2006 5:16 PM GMT

By Clare Black
LONDON (Reuters) - London Metal Exchange zinc futures extended their advance on Tuesday, hitting a fresh record high of $4,500 a tonne as short supplies and strong demand prompted funds to snap up a metal that is now up 136 percent so far this year.

Sister metal lead also hit a new all-time peak, but the
larger markets like copper and aluminium were little changed.
Traders said turnover remained relatively low, although
activity on the LME's open outcry floor picked up after the exchange's electronic trading system Select went down again for the second day running due to an ongoing technical glitch.

Zinc for delivery in three months traded at $4,480 a
tonne in the second open outcry session, up two percent.
Rapidly declining stocks and healthy demand for the metal, used mainly to coat steel to protect from rusting, have attracted funds to speculate on further gains.
"It is now momentum driven," a senior LME trader said. "This immediate upward move, which we're still in the grips of, could elevate us closer to that number."
"If that immediate momentum stops, it could come back down quite a bit. But at the moment the elastic band is still being stretched."
Floor traders said buying was coming mainly from short-term funds, like CTAs (commodity trading advisors) and only in smallish volumes.
Lead also hit new highs, trading at $1,740 and was
quoted in open outcry trade at $1,738 a tonne, up from Monday's
$1,738.

APATHY ELSEWHERE
Copper was content to sit in its well-trodden $7,000 to
$8,000 range, gaining a bit more pace during open outcry trade.
It took little notice of the first drop in warehouse inventories in nearly three weeks.
Three months futures traded $55 firmer at $7,415 a
tonne. Prices rocketed up to an all-time peak of $8,800 earlier in the year as supplies fell to critically low levels.
"Copper is still within a broad range, with some buying
coming in when prices dip under $7,400, around $7,380," a floor trader said.
Aluminium rose $5 to $2,805 a tonne. Since late
October, LME aluminium futures have seen resistance just above $2,800 a tonne, capping gains for the year at 23 percent, the poorest performance of the LME base metal contracts.
Dealers reported trade selling above $2,810, but also noted
good demand and short-term supply tightness in Europe.
"So although there is a large dose of speculative interest involved at the moment, associated with options for nearby December, it is not entirely divorced from the fundamentals.
There is generally a friendly sentiment."

Nickel recouped some of the previous day's hefty
losses, gaining nearly two percent to $31,600. Tin was
untraded but indicated at $10,100/10,150 from $10,075/10,100".

[stolwyk]

Zinc May Rise Above $5,000 on China, Macquarie Says (Update1)

By Debarati Roy

Nov. 8 (Bloomberg) -- Prices for zinc, used to rust-proof steel, may rise 11 percent to trade above $5,000 a metric ton by the end of the year because of rising demand from China and supply disruptions, Macquarie Bank Ltd. said.

``Zinc looks as though it's running out,'' said Adam Rowley, London-based analyst in an interview in Mumbai. ``When a commodity runs the price can go anywhere as we have seen in copper and nickel.''

Zinc rose to a record on the London Metal Exchange after inventories of the best performing commodity in 2006 fell to a 15-year low. Chinese zinc demand will exceed output by 400,000 tons this year, according to government-affiliated Beijing Antaike Information Development Co.

The price of zinc for delivery in three months on the LME, which has doubled this year, rose as much as $35, or 0.8 percent, to a record $4,535 a metric ton. It traded at $4,533 at 1:10 p.m. Singapore time.

``Zinc supply looks extremely tight, while the drawdown has increased in the past three years, demand has risen,'' Rowley said. This year's supply will lag demand by in excess of 300,000 tons, he said.

Prices for zinc may average 9 percent more next year, beating other industrial metals such as copper and nickel, because of disruption to shipments from the U.S., RBC Capital Markets said Oct. 28. `Uncharted Prices'

``These prices are uncharted and so it is difficult to predict a target but in the short-term we may see $4,700,'' said Rajini Panicker, head of research at Man Financial India Commodities Ltd.

Prices of industrial metals have soared in the past three years partly as China's booming economy stokes demand for the raw materials needed for factories, cars and appliances. Nickel has more than doubled and copper has risen 69 percent this year. China's economy expanded 10.4 percent in the third quarter.

``Consumption still exceeds production,'' Boliden AB, a Swedish copper and zinc producer, said Oct. 31 in a statement. Global zinc consumption rose 3.5 percent in the first nine months of the year, driven by China, the world's largest consumer of the metal, the Stockholm-based company said.

`Zinc Plays'

Shares of Korea Zinc Co., the world's largest producer of the metal, rose as much as 1,000 won, or 1 percent, to a record 108,000 won ($115) at 1:08 p.m. Seoul time. They rose 7 percent yesterday. Zinifex Ltd., the world's second-largest producer, fell 1.1 percent to A$16.51 at 9:42 a.m. Mumbai time. They closed at a record yesterday. Both stocks have more than doubled this year.

OAO Chelyabinsk Zinc Plant, Russia's largest producer of the metal, yesterday raised a greater-than-expected $336 million selling shares in London. Russia is one of the world's 10 largest producers of zinc.

``Zinc is one of the strongest-performing base metals and there are few zinc plays available globally, so this was a successful offering,'' Vladimir Katunin, a metals analyst at Aton brokerage in Moscow, said yesterday in a telephone interview.

Global use will increase by 3.9 percent to 11.1 million tons this year, and by 2.6 percent to 11.4 million tons in 2007, the International Lead and Zinc Study Group said Oct. 9.

``The market is now testing how resilient the demand is,'' Macquarie's Rowley said.

Canada's Teck Cominco Ltd., the world's largest producer, said Oct. 30 that shipments of zinc concentrate were delayed in the third quarter by bad weather at the Red Dog mine in Alaska.

Zinc for immediate delivery may rise to $5,000 within the next 12 months as supply lags behind demand, Standard Bank Plc. said in an Oct. 10 report. The price may average $3,140 this year before rising to $3,450 in 2007, said the London-based unit of South Africa's Standard Bank Group Ltd.

d.

[stolwyk]

ZINC BULL MARKET
http://www.gold-eagle.com/gold_digest_05/wright110306.html

TRO: $1.23

[denpal]

quote:Originally posted by stolwyk

ZINC BULL MARKET
http://www.gold-eagle.com/gold_digest_05/wright110306.html

TRO: $1.23


This is the bit I like:

The bottom line is zinc is indeed one of today's hottest commodities. As this metal's global imbalance works to correct itself, prices should continue to stay high for many more years. With this, the suppliers that are bringing zinc to market now and in the future are positioned to achieve vast profits.

[stolwyk]

WHERE IS TRO HEADING?

One needs to take account of 2 important events to come IMHO:

1. A price rise if the LME supply of zinc will be tighter still. Before that happens, investors and traders want to be on a zinc stock and TRO has good credentials.

2. A price rise due to coming closer to the pre-feasibility release in February.

Should items 1 and 2 converge - and there is every chance - then any interest in TRO will be higher still.

Of course, I have done some sums but would rather not publish these as the planned production won't be known till after the February numbers come out. As mentioned, expect a very high IRR.

Suffice to say, that I would be happy with at least doubling the present $1.25 price before the Febr. Announcement, followed by a rise till the Feasibility study results are released in 2008 and a further rise till mining starts.

So, I see 3 main modules of share price rises coming up hopefully. Obviously, the sooner mining starts, the better.

Once any of these events take place then it is a good time to set new targets.

No, I am definitely not in a hurry,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[BSA]

Hi Stolwyk,

Thanks for sharing all the TRO info, much appreciated,...on a more basic level(TA) she broke from a bullish flag last week which has a suggested projected target of around $1.60.

Cheers

[stolwyk]

METALS ARE RECOVERING: CURRENT PRICES. URANIUM WINS!

Uranium $61 (+0.75)

Zinc: was 202, low 186, now 197.

LME stocks moved down from 136k tonnes on Oct 13, to about 94 k tonnes now. The only metal with a very steep negatively sloping graph!

Nickel: Low of 13.46, now 13.92

Copper: was 313, low 311, now 313. Surpluses have been forecasted for 2007 by some analysts.

Lead: was 0.76, low 0.70, now 0.74




LATER: Significant rise of metal stocks:
http://www.kitcometals.com/

[stolwyk]

Woodlawn Underground Project Metallurgy
http://sa.iguana2.com/cache/0bf31dbff29ef7d1e65f84ac568ff5f9/ASX-TRO-435917.pdf

[stolwyk]

From previous post:

Prefeasibility Study.
"The prefeasibility study is on schedule for completion during February 2007 after which we expect the Company to be reclassified by the market as an emerging producer of zinc, copper and other metals.

Upon the completion of the subsequent feasibility study our expectation is to develop the Company’s first mine at Woodlawn".

[stolwyk]

Plus 17% to $1.29

[denpal]

That movement today came out of nowhere. Very little stock for sale right now.

[stolwyk]

Pse put on your seatbelts: zinc prices are going to fly IMHO:

http://www.angelnexus.com/getreport/c84f96386846ce3ec29da631a29e5d03.pdf

[Moonshine]

quote:Originally posted by stolwyk

Pse put on your seatbelts: zinc prices are going to fly IMHO:

http://www.angelnexus.com/getreport/c84f96386846ce3ec29da631a29e5d03.pdf


From the article:

"I recommend looking for junior mining firms with savvy management, a proven track record and a decent land package in a geopolitically safe country. These firms should also have mid- to advancedstage properties. Historic production and drill results are always a plus. I expect firms like these do to very well over the next three to five years."


TRO has it all.

Prefeasibility study due in Feb 2007... will get re-rated leading up to that.

Cheers

[stolwyk]

Supply and Demand:

http://in.biz.yahoo.com/061202/203/69xdv.html

Share price: $1.30

[stolwyk]

Substantial Shareholder notice.

4.45 pm: CVC holds 5.6% of TRO

[stolwyk]

A 15.6% increase to $1.445

[stolwyk]

Investor TV Interview with MD Bruce Robertson:
http://sa.iguana2.com/cache/4cf98278b812dcaeecfe363d98985861/ASX-TRO-438273.pdf

Also text.

[stolwyk]

The first post of this study thread applies:

Extract of the 1 Nov 2006 post:
"1. WOODLAWN UNDERGROUND PROJECT RESOURCE ESTIMATE – SML 20
26 Oct 2006: "Tri Origin Minerals Ltd (“Tri Origin”) is pleased to announce its first JORC(1) compliant Measured, Indicated and Inferred resource estimate for the redevelopment of the Woodlawn Underground Project:

10.1Mt @ 1.8% Cu, 4.0% Pb, 10.2% Zn, 0.55 g/t Au, 85g/t Ag".



INSITU VALUATION OF RESOURCE:
Latest US $/lb: CU: 3.35; Pb: 0.74; Zinc: 1.93; Silver: $12/ounce. Omit Gold.

Value/tonne US$: Cu: 132.6; Pb: 65.1, Zinc 433.0; Ag 32.7 Total: AUS$ 862/ tonne (A$=0.77 US$), a high value to deliver a solid IRR, IMHO.

+++++++++++++++++++++++++++++++

25 Dec 2006: COMMENT:
Since 2 Nov. some metal prices have declined. These are now (US$): Cu: 2.86; Pb: 0.75; Zn: 1.91; Silver: 12.50. Omit gold. $A=0.7828$US

Recalculating the Insitu values ($A bill): Cu: 1.461; Pb: 0.851; Zn: 5.530; Silver: 0.441 or the total Insitu value is $A8.283 bill or $A820/tonne (1.035 oz/tonne Gold equiv) compared with $A862/tonne on 2 Nov- See above.

That minor decrease in value of $A42/tonne or 4.9% is insignificant. Cu fell most.

Please note that if prices collapsed, the Insitu value/tonne would still be very high. There is room for expansion of the resource and the next Jorc update ought to give us that info. The pre-feasibility study planned for Febr 2007 ought to show a very good IRR. (Internal Rate of Return).

Note that these calculations omit the important resource of Lewis Ponds.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

PRO FORMA CALCULATIONS.

We are waiting for the increase in resources reports and the prefeasibility report in Febr 2007.

In the meantime, I want to make a stab at a possible outcome in the 12 months following the production date which could be late in the 2008 calender year.

1. RESOURCE AND PRODUCTION
The current 10.1 mill tonnes resource at the underground Woodlawn underground is likely to increase. It also has a massive tailing resource as well and more zinc in the new tenements close to Woodlawn.

So, this 10.1 mill Resource is to expand, not including the Lewis Project which is separate. TRO could mine 1 mill tonnes per year from the underground Woodlawn project once it has settled down and we'll use this number.

WOODLAWN UNDERGROUND PROJECT RESOURCE ESTIMATE – SML 20
26 Oct 2006: "Tri Origin Minerals Ltd (“Tri Origin”) is pleased to announce its first JORC(1) compliant Measured, Indicated and Inferred resource estimate for the redevelopment of the Woodlawn Underground Project:
10.1Mt @ 1.8% Cu, 4.0% Pb, 10.2% Zn, 0.55 g/t Au, 85g/t Ag"

COMMENT: We'll use the following lower metal prices and higher $A. Prices in 2008 ($US): Cu: 2.00, Pb: 0.70, Zn: 1.50; Silver: 16.00 Omit Gold. $A=$US0.85 Current share price: AUS$1.72

A million tonnes insitu value translates to a US$437.26 mill or AUS$514.2 mill. Deduct 10% to arrive at a net metal production of AUS$462.98 mill. Deduct smelting charges and net revenue is AUS$444.46 mill.


2. COSTS
Capital costs: AUS$125 mill for plant, vehicles, mine machinery and mine development. Raise $70 mill from an SP and the rest from Bank finance. Assume a share price of AUS$3.50 and to raise cash based on $3.15 /share=22.2 mill shares, say 24 mill. net. Routine finance from now till 2008; say $15 mill based on $ 2.50/share: 6 mill shares. Exploration and preparation: $15 mill or 6 mill shares.
Normal Mining costs AUS$75 mill.

Current shares: 91.65 mill; add above mentioned shares to arrive at a total of 128 mill. shares. Interest from Bank finance: AUS$5.5 mill


3. NET PROFIT, E/S AND PE.
From (1), revenue of AUS$444.46 mill. From (2), deduct Bank interest of $5.5 mill, $75 mill mining costs and tax of 28% to arrive at NPAT=AUS$262.08 mill or E/S: AUS$2.047. Prospective PE based on the current share price of AUS$1.72 is 0.84.

A conservative PE ought to be say 8, this translates to a prospective share price of AUS$16.38 after one year's production. Listing on the TSX will assist.

Comment: The coming pre-feasibility study in Febr could show a very high IRR of close to 100, depending on predicted metal values being used.
The suggested $3.50 TRO price for 2007 may be low IMHO, considering the calculated $16.38 price, 12 months after production starts.

Subject to audit,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[denpal]

I've had another look at TRO versus the parent company TOE.

TOE has a MC of $C48m based on 48,429,000 FPO's and sp of $C0.99.

TRO has a MC of $A165m based on 97,192,000 shares including all unlisted options etc at $A1.70 sp.

TOE owns on a FD basis as above 50.45% of TRO, ie 49,037,000 FPO's including the small balance of the performance shares that will be issued within the next 6 months.

TOE's share of TRO is worth $A83.36m based on $A1.70 sp = $C75.8m at 91c AUD/CAD. That is without allowing a premium on a controlling interest.

If TRO's value to TOE was fairly reflected in TOE's MC, TOE'S sp should be a minimum of $C1.56!!!

And at $C1.56 that means getting all TOE's other projects free, including the uranium prospect!!

Interested in comments. I bought some TOE today at $C0.95 and will likely get more tomorrow Friday Canadian time. The chart looks very nice too.

Also note Pinetree Capital has a significant stake in TOE. Maybe they can add as well as multiply?

DYOR, holder of TRO & TOE

[stolwyk]

China's Zinc Consumption to Rise 4.5% in 2007
http://www.resourceinvestor.com/pebble.asp?relid=28121

"And could rise by 8%":

"A 4.5% rise in consumption would be at the low end of estimated growth which may turn out to be 8% or more. Forecasts for demand to 2010 are suggesting up to a 50% increase and these figures have been the driver of prices, which saw new highs in November last year".


Gerry

[stolwyk]

The background to the recent stock pile built-up:


http://smartkids.thestandard.com.hk/news_print.asp?art_id=31275&sid=10754417

http://greatinvestments.blogspot.com/2006/12/why-lme-zinc-inventory-depletion-has.html

http://greatinvestments.blogspot.com/2007_01_01_greatinvestments_archive.html

[stolwyk]

Update:

http://sa.iguana2.com/cache/191b5c9b0af77ced72abd9d789a142f9/ASX-TRO-442058.pdf

[stolwyk]

Quarterly report:
http://sa.iguana2.com/cache/00ef67921fe4333fad8aff017490f738/ASX-TRO-442821.pdf

Outflow: $0.598 mill. Cash: $1.424 mill

"A significant reverse circulation and diamond drilling program will commence shortly to test a number of targets in the Woodlawn region. The principal objective is to define additional mill feed for the Woodlawn Project and over time extend the operational life of the project beyond that to be defined in the feasibility study".

"The priorities of the Company for the March quarter are to:
- Complete the prefeasibility study for the redevelopment of the
Woodlawn Underground Project;
- Initiate the statutory approval process for the redevelopment of the Woodlawn Underground Project and obtain further core samples for
final flotation and variability testwork;
- Further evaluate the potential to retreat the Woodlawn tailings;
- Evaluate the Pylara Limestone drill results;
- Commence a regional drilling program targeting base metal
mineralisation within the Woodlawn tenements and Overflow Project; and
- Appoint personnel to manage Company project feasibility studies and
developments".

[denpal]

A good day for the parent company TOE.TSX-V, up 9% to $C1.10 on good volume.

I see Zn prices are back over $US1.60 as well, currently $US1.62.

[stolwyk]

LME stockpile coming down:

http://www.metalprices.com/FreeSite/metals/zn/zn.asp#Tables

[firpohorse]

Some people are saying this stock will be massacred on Monday with Zinc prices crashing.

A common pick is 65 cents. Will be interesting to see if that occurs!

[stolwyk]

"A common pick is 65 cents. Will be interesting to see if that occurs!"

And whose "common" pick is it? Want to buy in cheap?



Zinc, Copper Plunge After WSJ Report of Losses at Red Kite Fund:
http://www.bloomberg.com/apps/news?pid=20601087&sid=afabKwEmj_cU&refer=worldwide


Gerry

[stolwyk]

Extract of the 1 Nov 2006 post and brought up to date:

1. WOODLAWN UNDERGROUND PROJECT RESOURCE ESTIMATE – SML 20
26 Oct 2006: "Tri Origin Minerals Ltd (“Tri Origin”) is pleased to announce its first JORC(1) compliant Measured, Indicated and Inferred resource estimate for the redevelopment of the Woodlawn Underground Project:

10.1Mt @ 1.8% Cu, 4.0% Pb, 10.2% Zn, 0.55 g/t Au, 85g/t Ag.


INSITU VALUATION OF RESOURCE:
Latest US $/lb: CU: 2.40; Pb: 0.76; Zinc: 1.40; Silver: $13.27/ounce. Omit Gold. Shares: 88.597 mill. Options 2009-2011: 5.845 mill. but substitute 2.9225 mill shares. Fully diluted: 91.52 mill. shares. US$1=AUS$1.2911. Share price: AUS$1.35.


+++++++++++++++++++++++++++++++

Recalculating the Insitu values/tonne (US$): Cu: 95.04; Pb: 66.88; Zn: 314.16; Silver: 36.26 or the total Insitu value/tonne is US$512.34 or $A661.48/tonne (24.7 grams/tonne Gold equiv. - Ounce of gold= US$644.6). That is a very high value per tonne in situ.

There are 10.1 mill tonnes or total value in situ is AUS$6680.97 mill; on a fully diluted basis, that is AUS$73.00/share or per AUS$1 market cap: AUS$54.07, a high number.

There is room for expansion of the resource and the next Jorc update ought to give us that info. The pre-feasibility study planned for Febr 2007 ought to show a very good IRR. (Internal Rate of Return).

Note that these calculations omit the resource of Lewis Ponds.

Subject to audit,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

TOE and TRO

UPDATED CALCULATIONS.

TRO.ASX: Tri Origin Menerals: http://www.trioriginminerals.com.au/

TOE.TSX: Tri Origin Exploration: http://www.triorigin.com/

Share structures on 13 Nov 2006: http://www.triorigin.com/share.htm

TOE holds 49.05 mill common - and performance shares in TRO @ AUS$1.35/share or market cap of these shares is AUS$66.217 mill or CAN$60.7171 mill. ($A=CA$0.9169).

The Canadian TOE has 45.134 mill shares and 4.405 mill options/warrants. Consider these warrants/options as 2.866 mill shares (The amount of warrants needs to be checked, it could be less). Consider a total of 48.0 mill shares.

The CAN60.7171mill invested in TRO is worth CAN$1.26 per share but TOE sells at CAN1.07 cents, a big discount.

In addition, TOE holds 3 CAN (adian) projects: http://www.triorigin.com/project.htm

1. CAN Red Lake Extension: http://www.triorigin.com/rkx.htm
2. CAN Confederation: http://www.triorigin.com/confederation.htm
3. CAN Keewatin: 3 Oct: 2006: http://www.triorigin.com/pdf/061003%20Keewatin%20NR.pdf
Uranium, gold and copper: JV with BHP. Could be valuable.

27 Oct 2006: Pinetree and Associates hold about 10% of TOE:
http://www.cdnx.com//data/lcdb/DOCP/OCT2006/11GZR01%21.DOC

SUMMARY: TOE has been underrated by the market. Its own projects could be worth some 22 cents/share or more and this added to their CAN$1.26/share gives TOE a market value of CAN$1.48/share.

TOE selling for CAN1.07 cents/share is selling 27.7% below its market value.

Both TRO and TOE are selling well below their real value IMHO.

Subject to audit,

Gerry
Holding TRO and TOE.
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[firpohorse]

Gee Gerry, you are going full bore on this stock at the moment. We take it you like it then!!!!!

[stolwyk]

Presentation by Managing Director

Nice colour.

http://sa.iguana2.com/cache/c5992d7ccb18f5474bd724a79c5711ea/ASX-TRO-443699.pdf

[stolwyk]

MPS REPORT:

http://www.mpsecurities.com.au/pubs/pdf/2007/TROReportFeb07.pdf

[stolwyk]

AUDIO:

http://www.acnnewswire.net/press/en/35641/TRI-ORIGIN-MINERALS-LTD.html

Prefeasibility Study in March.

[stolwyk]

http://www.miningnewspremium.net//storyview.asp?storyid=95747§ionsource=s0

[stolwyk]

Manipulation?

BaseMetals.com

Zinc prices fell to their lowest for just over a month on the LME on Wednesday, due to warehouse inventories rising to their highest since late-October last year, and further stock increases are expected.

Warehouse stocks leapt 5,050 tonnes, or five percent, to 106,800 tonnes, to their highest since October 31 last year. Today's increase reflected an unusual shipment into Dubai, but further stock rises are expected in general, as off-warrant stockpiles are registered.

However, the stock build-up is somewhat illusory, as much of the recently-warranted metal is 'window-dressing' and not easily available.

"It has been put there for show only," an LME floor trader said.

Since the start of this month, LME zinc stocks have risen 13,275 tonnes, or 14.2 percent. A long-running inventory downtrend bottomed out in December 2006, when stocks fell to 84,825 tonnes, the lowest since 1991.

Traders said the warranting over the last week is part of a 15,000 increase. This is metal which has been off-warrant for some time.

"However, it is highly unlikely that this material will show up in the clearing as it almost certainly forms part of a 'term financing swap'," another trader said.

An international merchant is said to be 'parking' metal in some regions which are less easy to remove metal from -- Singapore and Johor, as well as Dubai. This shows up in reported stocks and depresses prices on the LME. Prices fell three percent on Wednesday to $3,120 a tonne, down $100 from Tuesday.

The inventory operation may also be designed to influence ongoing annual TC/RC (treatment charges/refining costs) negotiations between producers and smelters.

No benchmark has been set as yet, but a level of $300 a tonne is being favoured

[salsanova]

As copper is now making a come back, i would like to know where to find a list of asx copper miners, so as to research for up and going ahead companies to invest in ,any help apreciated

[OldRider]

Some ideas here maybe
http://www.australianminesatlas.gov.au/info/aimr/copper.jsp

[salsanova]

thanks outrider this will do for a start

[stolwyk]

WOODLAWN UNDERGROUND PROJECT TO PROCEED TO FEASIBILITY

http://sa.iguana2.com/cache/50a464dc0ab6086fe1c28e5e7ed914c1/ASX-TRO-451214.pdf

Media release:
Prefeasibility completion puts Woodlawn zinc project evaluation on track
http://sa.iguana2.com/cache/8c50881dbab8301279fce2a2c5ac2ef1/ASX-TRO-451227.pdf

[stolwyk]

Feasibility Study & Exploration Drilling

http://sa.iguana2.com/cache/6a2f25c7e87bba1faa643a980c262da4/ASX-TRO-452099.pdf

[stolwyk]

PRESENTATION:

http://sa.iguana2.com/cache/c42206f8b14df849dc2612eab122a9a9/ASX-TRO-452116.pdf

[stolwyk]

RE: WOODLAWN EL6493 SULPHIDE MINERALISATION DISCOVERY

Extract:
"The Directors of Tri Origin Minerals Ltd (“TRO”) are pleased to announce that the first drill hole of a two hole programme (~600 m) has intersected a significant width of pyrite rich sulphide mineralisation.
The mineralisation is a new discovery approximately 5 km northwest of the Woodlawn deposit. It is within a belt of prospective Silurian rocks controlled by TRO
and extending for approximately 60 km. This hole intersected mineralisation located within a targeted coincident electromagnetic and geochemical anomaly. .

Geological inspection indicates the mineralisation is of skarn-replacement style and hosted in limestone. The location of this hole and the geological setting is outlined in the 12 April release.
Disseminated to locally massive pyrite +/-sphalerite, galena and chalcopyrite mineralisation was intersected from 208-215.8 m (7.8 m down hole thickness). No information is available at this stage on the orientation of the mineralisation".

http://sa.iguana2.com/cache/0f207f51d4345774103849cfc56d2725/ASX-TRO-452829.pdf


TRO is now in TRADING HALT

[stolwyk]

Share Placement: Media release

http://sa.iguana2.com/cache/ea9cff7ae0e25bbf78e798972ccdca1c/ASX-TRO-453672.pdf

[stolwyk]

SPP to come:

http://sa.iguana2.com/cache/67dd5e8c6c4d6aa133385152a0f6f317/ASX-TRO-453645.pdf

[stolwyk]

Quarterly reports

http://sa.iguana2.com/cache/199612973c227ac5d39dcd31bfe6d970/ASX-TRO-454767.pdf

[stolwyk]

Letter to shareholders

http://sa.iguana2.com/cache/88efe34d3f3a19f80349ac8a617a565c/ASX-TRO-456015.pdf

[stolwyk]

Video Interview Transcript

http://sa.iguana2.com/cache/be8d722cf0cf97d15c969992dcfeecd0/ASX-TRO-456457.pdf

[denpal]

Huge day for TRO today, on no news so it must have hit someone's tip sheet.

Up 12% today to $1.50 on volume of 1.25 mill to make its highest close since the end of January. Volume similar to when it tripled last Oct/Nov on the big ann.

In the last week it has gone $1.15>$1.50.

It'll be interesting seeing what parent company TOE.V does tonight on TSX.V.

:)

[OldRider]

I wonder how many didn't take part in the SPP as the market price of the shares was lower than the offer? I don't recall seeing an announcement giving the takeup rate for the SPP. Since the offer closed the price has started to head upwards.

[denpal]

quote:Originally posted by OldRider

I wonder how many didn't take part in the SPP as the market price of the shares was lower than the offer? I don't recall seeing an announcement giving the takeup rate for the SPP. Since the offer closed the price has started to head upwards.


There was an ann - the takeup was very small, only a few hundred thou raised. Not surprising given that the sp drifted below this.

[stolwyk]

3 July 2007: Presentation:

http://sa.iguana2.com/cache/9cb88fbf4383bf0d6af15b8b60a883d3/ASX-TRO-462652.pdf

[stolwyk]

Newsletter:

http://sa.iguana2.com/cache/a6d67c07b2a90bf39a9eb4934e612c23/ASX-TRO-464557.pdf

Audio:
http://sa.iguana2.com/cache/539a9fd8be3dbef1a5cd15b5a67594fd/ASX-TRO-464559.pdf

[stolwyk]

Quarterly activities and cash report:

Spent $0.85 mill. Cash $8.5 mill

[tricha]

Well Gerry u r on a winner here;)

I've watched TRI ORIGIN MINERALS LTD for quite a while now after u brought it to our attention.

For nearly a year now it has marked time.
As long as the super cycle remains intact.The next step up should happen fairly soon.

They have got one hell of a great deposit

10,100,000 tons of defined ore grading

1.8% Cu
4.0% Pb
10.2% Zn
.55g/t Au
85 g\t Ag

Very few shares on issue, 30km from Goulburn makes staffing relatively cheap.

This correction has bought some good buying opportunities, I wanted to get them at a bargin price, but had to settle for $1.26 a pretty reasonable price considering the upside potential.

Cheers

P.S some mining companies would be happy with the Cu content alone;)

[stolwyk]

Thanks Tricha,

Yes, the copper and lead did'nt escape me.

Gerry

[Huang Chung]

Stolwyk, Tricha

TRO is confusing the hell out of me.

On one hand, this stock appears to be incredibly cheap, in view of the likely resource they have. On the other hand, the company's market cap suggests that it's possibly a bit too big to have gone completely unnoticed for so long.

If memory serves me right, Woodlawn now has a rubbish dump at the bottom of the old open cut, and that they will have to access the ore from a new portal away from the open cut. They are also prohibited from mining too close to the dump. I also recall reading that the old u/g workings are flooded or partially flooded (??).

Stolwyk, Trisha, what is your take on the seemingly cheap price.....just another quality stock being continuously overlooked, or a well known story discounted for possible technical risks, or something else completely.

Your views would be appreciated.

[stolwyk]

Please keep reading, H.

It is all there including

http://sa.iguana2.com/cache/9cb88fbf4383bf0d6af15b8b60a883d3/ASX-TRO-462652.pdf

[Huang Chung]

Yes Gerry, it does read well. At face value, amazingly cheap compared to Jabiru, me thinks.

I wonder if the fact that they are looking to rework an old mine is weighing on sentiment?

If course, it could just be being discounted by the market because production is sometime off.

[tricha]

Huang Chung - "If course, it could just be being discounted by the market because production is sometime off"

U R onto it Huang Chung production a while off.

Is the supercycle intact for the next 10 years.

If the answer is yes, its a winner. Exploration upside is huge.:)

If it's a no I guess I'm down the drain :eek:

As simple as that.

[tricha]

I hazard a guess Huang Chung you would have done a comparision between Tri Origin Minerals Ltd & Prairie Downs Metals Limited :confused:

Whats the verdict ?

[Huang Chung]

Tricha...both PDZ and TRO look really good. Both will get into production around the same time. TRO has a much greater resource, but a higher market cap as well. PDZ seem to be on a roll at the moment with their exploration program, and a revised resource statement is due by the end of this month. Not sure at this stage of the capital costs for TRO, but PDZ's are around $55m, which is not too bad.

Both companies look to have excellent projects, and should gradually be rerated by the market as production nears and risks decrease. JML is now around a half billion dollar company with a resource that is dwarfted by TRO's, and, by month's end, probably exceeded by PDZ as well. TRO is also outside of W.A. which is probably a good thing. Market cap for TRO is around a quarter of JML's, and PDZ's is half that again.

Bottom line for me - If I was looking to buy another mining stock, TRO would probably be it.

[tricha]

Huang Chung - "If course, it could just be being discounted by the market because production is sometime off"

U R onto it Huang Chung production a while off.

Is the supercycle intact for the next 10 years.

If the answer is yes, its a winner. Exploration upside is huge.:)

If it's a no I guess I'm down the drain :eek:

As simple as that.

A Blast from the past, we are both down the drain.

TROTRI ORIGIN MINERALS LTD FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/TRO/1y/line/30/0/ Line Type LineCandlestickOHLCPercent Period 1 Month2 Months3 Months6 Months1 Year2 Years5 Years10 Years
Moving Average 1 5 day10 day30 day60 day90 day120 dayNone
Moving Average 2 10 day30 day60 day90 day120 day180 dayNone

[Huang Chung]

A Blast from the past, we are both down the drain.

TROTRI ORIGIN MINERALS LTD FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/TRO/1y/line/30/0/ Line Type LineCandlestickOHLCPercent Period 1 Month2 Months3 Months6 Months1 Year2 Years5 Years10 Years
Moving Average 1 5 day10 day30 day60 day90 day120 dayNone
Moving Average 2 10 day30 day60 day90 day120 day180 dayNone

TRO was one of Gerry's favs.

Never did buy in, as PDZ was enough amuzement for me in the base metals space.

Tricha...the lunatic soup must be still leaking from my brain.....I threw in a bid for another 50,000 PDZ this arvo, but didn't get hit :eek::eek::eek::eek:.