Fox Resources Ltd--FXR

[stolwyk]

FOX RESOURCES LTD---FXR:
http://www.foxresources.com.au/

BigChart: http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=au%3Afxr&time=&freq=

Shares: 36.1 mill. Listed FXRO options 21.8 mill. to pay 20 cents on 31/1/2006. Some 6 mill. unlisted Options.

April 12, 2002: Issue of 13 mill shares @ 20 cents.
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=214222&P=A

Listing on April 26, 2002.

April 19, 2004: Investor Presentation (18 pages):
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=259552

April 30, 2004: Third Quarter Cashflow Report: Cash outflow: Minus $1.4 mill. Cash: $3.2 mill.:
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=260710

July 12, 2004: Article
http://www.hotcopper.com.au/post_thread.asp?fid=1&tid=115584#319056


PROJECTS.

1. RADIO HILL --NICKEL
July 24, 2002: Acquires Radio Hill Nickel Mine (2 parts)
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=220008

Sept. 23, 2002: Completion of Radio Hill acquisition/mine to re-open
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=223496

April 23, 2003: High Grade Results Confirm Massive Sulphide Zone-Radio Hill
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=236306

May 21, 2003: Mining Study Underway at Radio Hill
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=237832

Nov. 19, 2003: Latest High Grade Drill Results At Radio Hill A Zone
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=250068

Dec. 17, 2003: Latest Drilling Results - Radio Hill---C-Zone ext.
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=252311

Dec 17, 2004: Fox Confident to Become a Nickel Producer in 2004
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=252326

Jan. 22, 2004: Media Release: Roche to Immediately Start Work at Radio Hill
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=253885

March 10, 2004: In Ground-Breaking Partnership with Jinchuan
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=257131

March 29, 2004: Snowden Independent Audit Confirm Ore Reserves at Radio Hill
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=258398

April 19, 2004: Investor Presentation (18 pages):
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=259552

April 27, 2004: Radio Hill Mine Shows Excellent Returns
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=260098

May 14, 2004: Henry Walker Eltin Appointed Mine Contractor at Radio Hill
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=261563

May 31, 2004: Strikes $10m finance deal to develop Radio Hill
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=262441

July 12, 2004: Article
http://www.hotcopper.com.au/post_thread.asp?fid=1&tid=115584#319056

July 17, 2004: Australia's Newest Nickel Producer
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=264707


2. WHUNDO & YANNERY--COPPER
May 22, 2002: Purchase of Whundo & Yannery Copper Deposits
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=216640


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

[stolwyk]

Guided Profit Projections, 2004/05 year.

This excludes any reference to gold and copper resources.

1. DATA--NICKEL ONLY.
All calculations in $A

Shares: 36.1 mill. Listed FXRO options 21.8 mill. to pay 20 cents on 31/1/2006. Some 6 mill. unlisted Options to pay 40 cents on 31/12/09

Two calculations: Undiluted=36.1 mill shares. Diluted: 57.9 mill ( It is only 18 months to 31/1/2006). Ignore the 2009 options in this exercise.

Revenue: $A50 mill
Royalty: 1%
Cash cost $8 mill
Processing + shipping: $4 mill
Rehabilitation: $0.2 mill
Capital works, maintenance (Plant): $1.0 mill
Cap works mine: $0.6 mill
Depreciation Plant, machinery: $1.8 mill
Other depreciation: $0.02 mill
Exploration/drilling/valuation: $3.8 mill.
$10 mill finance deal; interest: $0.6 mill.
Other interest: $0.15 mill
Admin: $0.8 mill
tax losses: Subtract $0.84 mill from tax owing.
Tax: 28%
____________________________

2. NPAT.
Profit before tax: $28.53. NPAT: $21.38. Undiluted E/S: 59.2 cents. E/S Diluted: 36.9 cents.

Current share price: 75 cents. PE (undiluted): 1.3. PE (diluted): 2.0

Please note that ideally, FXR needs to find more nickel. They have at this stage some 2 years production.

If they pay off the $10 mill. loan early, then they would save some interest.

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

[stolwyk]

More Nickel/copper/gold/cobalt:
http://stocknessmonster.com/news-item?S=FXR&E=ASX&N=220008&P=B

Extract:
24 July, 2002:

FOX RESOURCES LIMITED 2002-07-24 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
FOX RESERVES/RESOURCES AND FUTURE OPERATIONS

* The Whundo deposit includes stockpiles of 31,000 tonnes @ 4% copper and a resource of 2 million tonnes @ 2% copper, 1.3% zinc and 11 g/t silver. There is potential for further discoveries of massive base
metal sulphide mineralisation extending over 12 kilornetres of strike.

* Radio Hill disseminated nickel/copper sulphide reserves of 784,032 tonnes at 0.76% Nickel, 1.04% Copper, 0.05% Cobalt and 0.6 grams per
tonne palladium.

* The Mt Sholl disseminated nickel/copper sulphide resources of 2,069,000 tonnes at 0.81% Nickel, 0.87% Copper, 0.033% Cobalt and 0.62 grams per tonne palladium.

These deposits contain in-situ resources in excess of 22,000 tonnes of contained nickel, 66,000 tonnes of copper, 1100 tonnes of cobalt and 1,750kg of palladium.

The Mt Sholl tenement block also hosts a number of gold-bearing systems including the Four Ounce Show and Radley's where previous exploration outlined a preliminary resource in excess of 36,000 ounces to a depth of 50 metres. The majority of this mineralisation
is open in all directions.

An additional promising gold prospect is East Well where previous drilling intercepted 2m @ 5.5 grams/tonnes gold. Assays of up to 50 grams/tonnes gold were obtained from rock chip sampling over a strike
length of 800 metres.

The Fox tenure also hosts several other important mineralised layered intrusive complexes including the platinum-rich horizons at Munni Munni and nickel copper at Maitland and North Whundo.

Fox also acquired an extensive database that includes regional high-resolution magnetic and electromagnetic surveys, which were flown over the entire Titan project area in late 2000.

The survey was designed to accurately map the limitsof these layered intrusions and determine new prospective areas and has identified a number of new exploration targets.

The Radio Hill site also provides Fox with offices and other base facilities that provide a regional exploration base to allow Fox to readily evaluate its resource and exploration land holding in the West Pilbara".

[clearasmud]

Had a good day today.cleaned out 76 and finished at 75c.
Could be about to run hard.

[stolwyk]

A mr Streeter is accumulating shares. He has got over 14% now. It is quite possible that he wants a Director seat and may go to 20%. Not too many people selling just yet.

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

[clearasmud]

Fm miningnews.net

hursday, July 22, 2004
IN Fox Resources, the Radio Hill nickel project near Karratha in Western Australia has its third owner in the last 15 years. Fox believes it could be the most profitable owner of the three.

When Fox cashes its first cheque in August, it will cap a remarkable performance over the past 12 months. In that time it has gone from being one of the 300-plus explorers on the Australian resources scene to one of a just a handful of nickel producers. What's more remarkable though is that it's looking at free cash flow over the next 12 months of at least $20 million from a mine that cost a mere $1 million to buy and a modest $6-7 million to explore and develop.

All of which begs the question, how so? Plenty of hard work, it goes without saying.

No one buys an idle project, explores, carries out a feasibility, develops, begins mining and starts cashing cheques in a timeframe as short as 12 months without management putting in the hard yards.

However Fox managing director Brett Matich is the first to admit the company's had a bit of luck with the nickel price. He points out the previous owner Titan Resources had to contend with an average price of $8000 per tonne over the four years it ran the operation. Fox on the other hand is looking at a price of at least double that. Indeed at its peak earlier this year, nickel was trading at nearly three times that.

The significantly better price makes a big difference to both the economic and exploration parameters.

However, no matter the price, Fox was still required to find the nickel to mine. Nickel mineralisation previously seen as uneconomic was quickly identified, with the use of geophysics proving a big exploration success.

That every hole drilled at the Radio Hill mine by Fox has hit mineralisation is a seductive statistic in itself, but the fact that two of every three of those holes hit economic mineralisation is even more compelling.

Matich is a big fan of geophysics and says the tool has improved immensely in the last few years. He points out Fox is using consultants Newexco, a well credentialed name in the geophysics business, who's biggest success to date has been with Western Areas in the Forrestania region with the discovery of the high-grade Flying Fox deposit.

Radio Hill nickel has been found in five separate zones – A, B, C, D and the "New Zone". Fox is currently expecting to mine 350,000t grading at 2.0% nickel and 1.5% copper recovering around 5000t of nickel and 5000t of copper in the first two years.

The location of the nickel is also telling – very close to already established infrastructure. Such has been Fox's discipline in getting Radio Hill back into production pronto (and at minimum capital cost), that every hole planned by the company's geologists in 2003 and early 2004 had to first be approved by a mining engineer (operations director Don Harper) to confirm any discovery could be converted into reserves.

Fox will carry out approximately 10,000m of underground diamond drilling and surface RC drilling in 2004 targeting new geophysical anomalies and ore delineation using downhole EM. Targets include the Fredon zone, which was defined by EM in 2003 and remains open, and a new, undrilled EM target that's a mere 14m from the decline. The company will also carry out a detailed airborne magnetic survey to identify geological structures within the Radio Hill orebody and regional targets.

Matich has no doubt the company will add to its reserves and mine life – he's got the record to justify that confidence – and he also believes there's plenty more nickel, copper and gold to be found in the Karratha region. "We've only scratched the surface in both cases," he says.

Regionally the company holds around 1500 square kilometres, with the ground already having five nickel prospects containing identified resources. These include the Radio Hill Feeder Zone and Trial Pit (38,000t at 1.6% nickel); Radio Hill disseminated (1.4 million tonnes grading 0.6% nickel); Sholl B2 (2Mt at 0.8% nickel); Sho

[primo]

Anyone have any info on fox and possible rumors of the news comming out. thanks

[tricha]

Hi investors.

Help required, bought 10,000 FOX at 36c for a play.

Sounds like it has all the goods relating to a great Nickel resource with the mining structure in place[:p]

Theres no major shareholder so they are ripe for a takeover, they are not aligned to supplying their nickel to WMC,

Someone with Nickel skills, like MCR, IGO, JBM to get the place going.

So what am I missing, [?][?][?] OK MANAGEMENT APPEAR QUESTIONABLE[?]

Views on this on would be really appreciated.!

From the [B)][}:)]

[Packersoldkidney]

quote:Originally posted by tricha

Hi investors.

Help required, bought 10,000 FOX at 36c for a play.

Sounds like it has all the goods relating to a great Nickel resource with the mining structure in place[:p]

Theres no major shareholder so they are ripe for a takeover, they are not aligned to supplying their nickel to WMC,

Someone with Nickel skills, like MCR, IGO, JBM to get the place going.

So what am I missing, [?][?][?] OK MANAGEMENT APPEAR QUESTIONABLE[?]

Views on this on would be really appreciated.!

From the [B)][}:)]



Tricha: there was a good article on Fox in the Bulletin a week or so back. The article was by the resident 'share-tipster' The Speculator; he outlined his reasons for selling Fox. It might be worth your while to track the article down for a read; you could probably get it at a public library.

Good luck with it.

[cdchi1]

Hi tricha,

I would look elsewhere...they are hopeless at mining nickel...and now the've all of a sudden switched focus to iron ore (and a pretty cr@p iron ore project at that).

If you want iron ore access at a cheap price, got for POL. Worth checking out Davidrob's comments on POL in the Polaris thread on this site.

If nickel, stick with IGO, or maybe JBM...i noticed you mentioned you bought MCR...even though State one came out with a buy...i do not like MCR at all...their quarterlies seem to be misleading as in their 'operating surplus' they do not account for development costs (which probably explains why they only have around 10 mill cash in the bank left). I wil buy MCR if they can put together 2-3 quarters of solid results, but at the moment it seems to be alternating good and bad.

Cheers

Cdchi1

[davidrob]

Hio cdch1 ......

did you see the Dave Hazzlehurst...in The Bullie... comments re. Foxy and The Radio Hill thingo...this last week ???

....and their unfortunate diversion into the Low Grade Iron Ore...Hazzlehurst was not impressed; and marked them (FOX) down big time unfortunately...

By the way talking Grades...must admit I did indeed like that 69% number...(and am not talking dirty cdch1... [:o)][:o)].....I mean 69 % FE...Iron Ore Content...and the low impurity factor also with the Polaris Iron Ore...just released this week !!(POL)


By the way, check out the Depth on POL now......and next week..watch carefully.... everyone here at the the PUB is totally unreliably informed ...... that there will be some more Good Up Grades swinging out way vis a vis POLARIS (POL) :):)

But that is only what Chris the Cockatoo was cackling on about; to Gav The Galah ....after Chris was robbed of his Salted Cashews......oh well./// ....we will just have to wait and see....;);) :)

Have a great weekend everyone,

Kind regards,

Robo :)

[tricha]

Well Folks

Thanks for the information, Took your advice on this one, sold them yesterday for a small profit.

Bought some more MCR with the proceeds, while still cheap.

[B)][}:)]

[tricha]

Well been keeping my eye on this one, got back on board:).

New management ( Ex JBM and WSA director bought a heap recently, now on the board):):)

Company reorganised, down to 3 million debt, hegded nickel expires Oct, producing.:)

Finding everything sometimes in the one hole, nickel, silver, copper, zinc, gold.:):)

Also a take over opportunity, only 80 million shares and no major player.:):)

We shall see!

Regards [B)][}:)]

[tricha]

Any comments from anyone on the flying fox, all comments appreciated
[?][?][?]

regards[B)][}:)]

[stolwyk]

Hi Tricha,

Haven't followed them for a long time but did hear adverse comments.


Gerry

[tricha]

Weird, read the report from Fox and you will be blown away, huge, this articule only tells part of the story - Whundo Copper Project Progresses Well - rich supergene copper ore

Regards [B)][}:)]

West Whundo


Fox Resources Limited has announced further encouraging progress at its Whundo Copper Project. High grade assays have been returned for drill holes WHRC047 to WHRC059 at West Whundo.

Whundo is located within granted mining lease ML47/7 and is owned 100% by Fox. The deposit is near surface and can be readily exploited through open pit mining. The oxide overburden is expected to be free digging, considerably reducing mining costs.

Don Harper, Managing Director of Fox said: “This is a very encouraging result for Fox as it demonstrates the potential for the project to deliver early significant returns for shareholders.”

Fox’s drilling to date has discovered a rich supergene copper zone at West Whundo. This shallow zone is comprised predominantly of chalcocite, a secondary copper sulphide mineral. Historical drilling under reported true assays while Fox’s first phase Reverse Circulation (RC) drill program was too widely spaced to define the zone.

Fox now believe that the rich supergene copper ore could be more extensive than previously thought. The company is seeking a rig to complete the resource drill program and further test the main supergene target. Their aim is to complete a JORC compliant resource estimation by November 2005.

- 14 Sep 2005

[Dazza]

FOX DELIVERS A$7M UNHEDGED MAIDEN WEST WHUNDO COPPER SHIPMENT

Fox Resources Limited (“Fox”) (ASX code: FXR) is pleased to announce that the maiden shipment of copper metal in concentrate departed the Port of Dampier in Western Australia for Lianyungang China earlier this week.
The maiden shipment carried 728 tonnes of unhedged copper metal in concentrate valued at A$7 million (gross of smelter charges).

The copper metal in concentrate was mined from Fox’s newly commenced West Whundo low cost, high grade open pit. Mill production remains on track to ramp up to an average of 45 tonnes of copper metal per day. Total production from West Whundo has been contracted to China’s Jinchuan Group Ltd, China’s largest nickel producer.
Due to contracted freight space arrangements 184 tonnes of copper metal in concentrate remained at the Port of Dampier. The next shipment, scheduled for early September, will total an estimated 1,100 tonnes of copper metal in concentrate valued at A$11m, at current metal prices.

The Company reaffirms its production target for the September 2006 quarter of 3,348 tonnes of copper metal in concentrate.
Fox Resources’ Managing Director Don Harper said the shipment represented a significant milestone for the Company.
“So far we have delivered this project on time, on budget and both the resource model and recoveries are performing better than expected,” Mr Harper said.
“Yet while it is a great result, it is really a foundation that allows us to focus on bigger goals which include extending mine life at West Whundo as well as developing our exciting regional Pilbara exploration targets.”

As previously announced, the re-optimised pit design at the West Whundo mine indicates the project has a current recoverable metal value of $150 million over a 12 month period. Reverse Circulation drilling is underway around the mine targeting an additional two-year open pit mine life, with results to be released as they become available.
Production from the West Whundo mine also continues to perform better than anticipated with an 11 per cent increase in the ore tonnes mined compared to resource model and a 13 per cent increase in copper grades compared to the resource model.

Fox Resources anticipates providing a more detailed break down of production for August 2006 from West Whundo next month.
- ENDS -

[Dazza]

no one else on this?

i got options..

massive increase today, broke thru $1, and then the 1.10 mark

going to pre - june/july correction levels now.

ie uncharted territory.

so u asking why has it shot up?

WELL UNHEDGED, producing Fe and Ni i tink.

have off take agreement with china, the same company as with AGM

shipped iron ore out already, also focuses on Ni production.

Short term trade news:
reputed to show a break down of the base metal production - supposedly to release an announcement in august.

2nd thing that is hot at the moment , helicoptor rides :D scouting out new potential discoveries.

3rd thing - most speculative, is take of take over :D

Id say trade the fpos, oppies overpriced and not liquid enough.

Goodluck,

Regards,
Dazza

P.S. this is a LT hold for me

[Dazza]

Info:

112 mill FPOs
24 mill FXROA @ 75cents @ 30/06/07
ALL PRODUCTION UNHEDGED

top 10 holds - 35%
Jungle Creek gold mines - hold 16% - here is where the take over talk is


$60 mill in bank
Debt free
Divis coming soon
5 year mine life - Cu Ni Fe
Off take agreement with China's largest Ni producer - ie the same company that AGM has signed with.


so with a MC of about 150 mill, cash of 60 mill..

no hedging, no debt.

also potential to increase new resources at its other mines...


as u can see.. alot of growth potential...

i just have fpos, but im thinking of buying some heads for the good old divis :D

[Dazza]

options : 59 cents waaaaaaaaaaaahooot

nearly 2 bagger for me :D

but...... 59 cents prices fpos at 134.... fpos currently trading at 1.19.....

all i can think of is...

take over

with them buying out the options.

cause if they accumulate too much FPOs, ie over 20% they will have to issue a take over statement....


therefore take out the options first....


this is very interesting trading going on here people!

since Jungle Creek gold mines - hold 16%
they prob got 19.9% these few days

and now they have moved onto taking out the options...

thats my conspiriacy theory anyhow....

otherwise, why else would the options go ballistic today!!

[Dazza]

Options for leverage. FPO tightly held and any attempt to pick up 200,000 would blow depth to pieces. Also june 07 options. I'll pay my 75c then and go for the ride.


a reply from HC regarding my query why the oppies, zoomed up

[Dazza]

ok fellas , can someone help me work out a estimated yearly profit?

here is what i got very brief and newb:

Radio Hill
i have 2000t of Ni @ 9% per month
= 180t of Ni per month
= 2160t of Ni per year, lets just be conservative and use 2000t of Ni

2000Ni x say just say $25000 a tonne = 50 mill

also at radio hill is 1000t of Cu @ 25% per month
= 250t of Cu per month
= 3000t of Cu per year

3000t of Cu per year using $8000 a tonne = 24 mill

50 + 24 = 74 mill a year, now im not to sure what costs are involved. say they get 50% of profit = 37 mill

Whundo Copper
30 million PROFIT after 5 months they said.

so 30 mill + 37 mill = 67 mill profit. lets just use 60 mill to be more conservative.

they have 112 mill + 25 mill options = around 140 mill total dilution
therefore 60 / 140 = 43 cents per share earnings.
Lets use a PE of say 5 - ZFX - has PE of 5 due to low mine years
so 43cents x 5 = $2.15 per share!!!
lets use PE of say 4
43 cents x 4 = $1.72 per share!!!


so...... another words, further justifies the fact that i aint selling any of mine, ANY OF MINE, until it has reached at least 1.70!
once its there, i will reassess the situation, mite sell 1/3 @ $2.
but i am looking forard to xmas via FXR :D
mmm i mite actually top up my FXR holdings :D

Regards,
Daz/Dazzahc/Dazza

[Dazza]

ok seems its just me in this company oh wellz no problem.

righto topped up on some more fpos today.

Further to my posts, they are going to start producing Zn and Ni next year.

so thats a plus.

more zinc grade samplings came out today

[Dazza]

further to my 05 / 09 calculations
here is another calculation, based on copper alone.

according to their table, West whundo is only expected to produce till end of year?

then 1st ahlf 2007, nickela nd zinc production kicks in.

they are saying 120 mill EBITA

120 mill i use a NPV 10% discount, gives me 110 mill

i say profit profit, they get say 60% of it is profit

so thats say just say 60 million.

they have got about 140 million fully diluted shares.

so thats 60/140 = 43cps

give it a PE of 4 =172 cents..

[Dazza]

http://www.foxresources.com.au/documents/239.pdf

SHALLOW HIGH GRADE DRILL SUCCESS EXTENDS AYSHIA
ZINC DEPOSIT
Fox Resources Limited (“Fox”) (ASX code: FXR) is pleased to announce exploration success from its new
Ayshia Zinc Deposit. Diamond drill hole AYRCD089 has intersected 9.1m @ 6.2% zinc, 1.4% copper from
152m down hole depth confirming mineralisation is open and extends to the north west.
Ayshia is an exciting new zinc deposit located just 12 kilometres from the Company’s Radio Hill treatment plant
in the Pilbara, Western Australia. It is a key deposit in Fox’s emerging new Whundo Volcanic Massive Sulphide
(VMS) Copper-Zinc Project area.
Commercialisation of the deposit, which is now on track to reach the initial target resource figure of 40,000
tonnes of zinc metal (as announced 8 August 2006), would add valuable high grade feedstock to the newly
upgraded Radio Hill treatment plant which has the ability to process zinc. The plant is currently processing high
grade copper from Fox’s nearby West Whundo mine.
Significant drill intercepts from the latest drilling results include (Figures 1&2):
• 9.1m @ 6.2% zinc, 1.04% copper and 5g/t silver 152m down hole depth, AYRCD089
including 6.1m @ 7.9% zinc and 1.4% copper and 8 g/t silver
• 12.1m @ 5% zinc and 20 g/t silver 66.1m down hole depth, AYDD074
including 3.6m @ 10.5% zinc and 44 g/t silver
• 9.8m @ 4.6% zinc and 20 g/t silver 27.3m down hole depth, AYDD075
including 2.6m @ 12.3% zinc and 44 g/t silver
• 8m @ 3% zinc 166 down hole depth, AYRCD087
including 3.6m @ 5% zinc
Further assaying of previously reported metallurgical diamond drill hole AYDD076, has increased the
intersection from 34.9 to 36.6m @ 14.2% zinc and 45 g/t silver from 46.7m down hole depth, with an estimated
true width of 11m. This result confirms the excellent zinc grade and continuity of the Ayshia zinc deposit.
Fox Resources Managing Director said the results were an important breakthrough for Fox’s exploration efforts
which are aiming to bring Ayshia into production as soon as possible in order to capture high zinc (Figure 3)
prices.
“These results really start to tell us that Ayshia now has the potential to achieve the initial target of 40,000
tonnes of zinc metal,” Mr Harper said.
“With the current high price of zinc forecast to continue into 2007 and LME zinc stockpiles plummeting to its
lowest level since 1991, Fox is in great shape to capitalise on this environment through the new Ayshia zinc
discovery,” he said.

The Feasibility Study at Ayshia currently envisages a high grade open pit zinc mine. Regulatory approvals are on
schedule to be completed by early 2007.
Further diamond drilling is planned to test the down dip extensions of the Ayshia deposit to the north west.
Down hole Electromagnetic (EM) geophysics will test hole AYRCD087 (Figure 2) to improve the location and
delineation of the Ayshia Conductor announced on 1 June 2006. Geophysical crews are currently on site and
should complete the EM survey by the end of September.

[tricha]

You are on a winner here Dazza![:p][:p]

She's going to be a ripper of a company, excellent management now, excellent exploration upside.

Unfortunately I sold a while a go, but alas you can not have everything.[V]

[Dazza]

tricha it aint still late here mate.

well maybe...

phew glad i topped up yesturday.
hope its good news fingers crossed.

TRADING HALT

pending exploratin news with relation to pilbara region... till monday.

hope its all good!

stupid WA though... hate alan carpenter ><

[tricha]

To have a trading halt like this it must be awesome [8D] Dazza.

Some of the drill cores must have had pure copper showing, thats all I can think off. Waiting for some assay results.

Another CDU in the making and I'm too late, my hey, I'm not complaining, still hold 110000 Mincor bought at average 63 cents and a few good cheques along the way, you can't win them all.

cheers and best of luck

[Dazza]

+12 cents
or roughly 10% on 2 mill turnover
good volume

they have discovered 5 new base metal targets all very close to exsisting infrastructure.

FOX DISCOVERS FIVE NEW BASE METAL TARGETS
Fox Resources Limited (“Fox”) (ASX: FXR) today announced the discovery of five new
electromagnetic (EM) conductor targets in the Whundo Base Metals complex. This is
an exciting development and based on preliminary interpretation of the data, the company
considers that several of these targets have excellent potential for massive sulphides.
Four of the new prospects (Figure 1) SUNCHASER, CONQUEST, BERTRAM and CARVER
are located west of the operating West Whundo high grade copper mine which itself is
located only 12 kilometres south of Fox’s Radio Hill Milling operation. A fifth target, ZODIAC
(Figure 5), is located 5 kilometres east of the Company’s Radio Hill nickel mine and milling
operation.
Initial targets were generated by a helicopter borne EM survey. Confirmation through ground
EM geophysics has been used on the larger SUNCHASER, CONQUEST and BERTRAM
targets (Figures 2, 3 & 4).
A brief description of the EM targets is as follows:
1. SUNCHASER
Located 5km west of West Whundo copper mine (Figure 2), consists of two separate EM
conductors which preliminary interpretation indicates may be consistent with the presence of
massive sulphides. The conductors are approximately 75m below surface and each has an
estimated strike length greater than 100m. Gossans (oxidised sulphides) have been
identified on the surface in the immediate area of the conductors.
2. CONQUEST
Located 4km west of West Whundo copper mine (Figure 3) consists of two EM conductors
and through preliminary interpretation may be consistent with the presence of massive
sulphides. The conductors are approximately 80m below surface and the larger of the two
conductors has an estimated strike length of 100m and is open to the east and south. There
is a copper-zinc-lead occurrence on the surface in the immediate area of the conductors.
3. BERTRAM
Located 3km south west of West Whundo copper mine (Figure 4) consists of four
conductors, and preliminary interpretation may be consistent with the presence of massive
sulphides. The conductors range from approximately 30 to 175m below surface and the
largest conductor has strike length of up to 150m. Copper minerals have also been
identified in surface gossans located at this target.

A historical diamond drillhole WSP-10 drilled in the late 1960’s at the Bertram prospect
intersected 1.8m @ 3.4% Cu from 22m down hole and 3.6m @ 0.65% Cu from 33m
down hole. A small shaft was also sunk in the Bertram area on malachite copper ore.
4. CARVER
Located 4km north west of West Whundo copper mine (Figure 1) consists of one conductor.
The conductor is approximately 50m below surface and has a strike length of an estimated
100m.
5. ZODIAC
Located 5km west of Radio Hill mill (Figure 5) consists of four EM conductors. Each of these
conductors are approximately 100m in strike length. Ground EM is currently underway, with
results expected soon.
Future work proposed for the new EM conductors include follow-up diamond drilling starting
at Zodiac near Radio Hill with the remaining targets tested following the completion of the
tenement approval process which is underway.
DISCUSSION
Fox has previously reported significant copper and zinc drill hole intersections from several
other EM targets in the Whundo area. For example AYSHIA – drillhole AYRC022 intersected
18m @ 8.8% zinc, SHELBY – drillhole SHDD016 intersected 5.8m @ 2.4% copper and
AUSTIN – drillhole AUD001 intersected 2m @ 1.8% copper.
Managing Director Don Harper said the discoveries were significant to the Company
because they could lead to the discovery of further Volcanogenic Massive Sulphide (VMS)
ore bodies, These VMS deposits are similar to the high grade West Whundo copper mine
and the high grade Ayshia zinc deposit where drilling is ongoing.
“Fox has a 100% success rate in testing EM targets in this strongly mineralised area

[Dazza]

another announcement :D

FOX DRILL CAMPAIGN AT WEST WHUNDO
CONTINUES TO EXPAND BASE METAL DEPOSIT
Fox Resources Limited (“Fox”) (ASX: FXR) is pleased to announce exploration
success from its West Whundo Copper-Zinc (West Whundo) deposit.
Significantly, reverse circulation (RC) drill hole WHRC212 has intersected 13m @ 5.7%
copper and 23 g/t silver from 103m down hole depth, including 7m @ 8.7% copper
and 37 g/t silver. This hole confirms mineralisation is open and extends to the north
west (Figures 1 and 2).
The West Whundo deposit is located just 12 kilometres from the Company’s Radio Hill
treatment plant in the Pilbara, Western Australia. It is a key deposit in Fox’s emerging
Whundo Volcanic Massive Sulphide (VMS) Copper-Zinc Project area.
The focus of Fox’s resource expansion drilling program at West Whundo is to increase
the project’s current resource estimates by identifying new open pit mineralisation. An
estimated 20,000 drill metres has been completed at the West Whundo and Whundo
deposits to date. Mining of shallow high grade copper is well underway at the West
Whundo open pit mine.
The recent drilling also intersected additional shallow copper supergene
mineralisation between the old Whundo deposit and the West Whundo deposit.
Assays will be released as they become available.
Fox Resources’ Managing Director, Mr Don Harper, said the results were very
encouraging for the Company’s resource expansion efforts which are aimed at
increasing the West Whundo Copper-Zinc resource and increasing longevity of mining
operations.
“The commitment of such an aggressive drill campaign to increase mine life is fast
becoming a reality for us,” Mr Harper said.
“We anticipate the resource evaluation to be completed by November 2006, and with the
unexpected additional supergene mineralisation being discovered between the current
mining at West Whundo and the old Whundo pit, there is potential for further high grade
copper production,” he said.
Significant new drill intercepts from today’s resource drilling results include (Figures 1
and 2):
• 13m @ 5.7% copper and 23g/t silver from 103m down hole depth,
WHRC212 including 7m @ 8.7% copper and 37 g/t silver

5m @ 4.0% copper and 3.5% zinc from 60.3m down hole depth,
WHRCD201
• 10.7m @ 3.1% copper and 13g/t silver from 66m down hole depth,
WHRCD194
• 5m @ 8.6% zinc and 1.6% copper from 76m down hole depth,
WHRCD201
• 4.6m @ 8.2% zinc and 1% copper from 46.4m down hole depth,
WHRCD183 including 1.6m @ 15.4% zinc
The Company is currently collating assay data, as it becomes available, to complete the
resource evaluation. A preliminary resource is expected to be completed in November
2006.
Today’s results takes Fox one step closer to achieving its near-term growth strategies of
building longevity and exploiting other exploration opportunities.
- ENDS -

[Dazza]

from mine box - http://www.minebox.com/story.asp?articleId=8362

Fox drilling expands base metal deposit

Fox Resources drilling operations


Fox Resources has had further exploration success at its West Whundo Copper-Zinc deposit.

One significant reverse circulation drill hole, WHRC212, has intersected 13m @ 5.7% copper and 23 g/t silver from 103m down hole depth, including 7m @ 8.7% copper and 37 g/t silver, confirming that mineralisation is open and extends to the north west.

The West Whundo deposit is located 12km from Fox’s Radio Hill treatment plant in the Pilbara region of Western Australia and is a key deposit in the company’s emerging Whundo Volcanic Massive Sulphide copper-zinc project area.

Fox is focusing its expansion drilling program at West Whundo to identify new open pit mineralisation, thereby increasing the project's current resource estimates.

An estimated 20,000 drill metres have been completed at the West Whundo and Whundo deposits to date and mining of shallow, high-grade copper is well underway at the West Whundo open pit mine.

Fox Resources' Managing Director, Mr Don Harper said the results were very encouraging for the company's resource expansion efforts, which are aimed at increasing the West Whundo copper-zinc resource and increasing the longevity of mining operations.

“The commitment of such an aggressive drill campaign to increase mine life is fast becoming a reality for us,” Mr Harper said.

“We anticipate the resource evaluation to be completed by November 2006 and an unexpected additional supergene mineralisation, discovered between the current mining at West Whundo and the old Whundo pit, there is potential for further high grade copper production,” he said.

Fox is currently collating assay data, as it becomes available, to complete the resource evaluation. A preliminary resource is expected to be completed in November 2006.

- 04 Oct 2006

[Dazza]

“We anticipate the resource evaluation to be completed by November 2006, and with the
unexpected additional supergene mineralisation being discovered between the current
mining at West Whundo and the old Whundo pit, there is potential for further high grade
copper production,” he said.


I CANT WAIT FOR NOVEMBER MAN :D

BOOM BOOM BOOM :D

[Dazza]

Announcement out:
PLANT ACQUISITION TO GENERATE NEW ZINC REVENUE
STREAM

Fox Resources Limited (“Fox”) (ASX: FXR) today announced that is has acquired the
Elizabeth Hill Processing Plant and the associated Silver Tailings Project, both are
located just 5.5km west of the Ayshia Zinc deposit (Figure 1).
Fox Resources’ Managing Director, Mr Don Harper, said the acquisition of a second
treatment facility would allow Fox to introduce another commodity into its current
revenue stream being generated by the Company’s high grade open pit copper mine at
West Whundo.
“This plant represents more flexibility for Fox – we can now process a combination of
ores in conjunction with our Radio Hill processing plant located 16km to the north,” said
Mr Harper.
Until this year, Fox was primarily a nickel producer. But today, the Company has
become a diversified base metals explorer and producer with a state-of-the-art
processing plant and ability to process copper, zinc and nickel.
Fox is now an emerging base metals player in Australia and plans to pursue its wider
exploration strategy targeting Volcanic Massive Sulphide mineralisation in the largely
unexplored areas close to its Radio Hill operations. The Company already has a life-ofmine
offtake agreement with Jinchuan Group, China’s largest producer of nickel, and is
rapidly expanding its portfolio of commodities to drive further shareholder value.
It has been a rapid evolution for Fox. In 2004, the Company was engaged primarily in
nickel concentrate production and an aggressive exploration program targeting nickel
sulphide systems at Ruth Well and Sholl. At that time, it could only process nickel at
Radio Hill with copper as a by product.
Fox has since transformed from a primary nickel miner to become a diversified base
metal producer through organic growth from exploration and now by the strategic
acquisition of a second processing plant.
The consideration for the plant and associated infrastructure will be met by a total
payment of $500,000, subject to certain conditions being met by MKS Capital. The
purchase included the following:
• 30 cubic meter Flotation Circuit
• Jaw Crusher
• Crushing circuit
• 20 man fully functional camp with full messing facilities
• A target estimate of 500,000 ounces of silver remains in the tails dam

Mr Harper went on to add that the plant is in good working order, with only limited
refurbishment required.
“We have copper at West Whundo, zinc at Ayshia, nickel at Radio Hill, Sholl, Ruth Well
and with the five new EM targets discovered at the Whundo base metal complex, we
now have the ability to maximise shareholder value through the addition of a second
revenue stream at a time of high commodity prices, in particular zinc and nickel.”

[Dazza]

Zinc production coming soon fellas :D

paid by for cash cash cash baby :D

not SPP , not bank loans, but cool hard cash :D

watch this space people

My valuation stands at $1.77 to $1.92

until they get Zinc production online, i will update with new target price.

[whiteheron]

A very good announcement today

As I have been inclined to do, I purchased FXR when it was around 40c and sold at what I thought was a healthy profit and it it was, but look what has happened since !!!

With things the way they are (with both the mining sector and FXR) I am going to re assess the situation with a view to buying back in

I have found from experience that just because a share price rises signifantly does not necessarily mean that it has reached its potential or that the share price is about to top out

Your thoughts will be most welcome

[Nimble]

Whiteheron,

What a great chart. Unfortunately never made it from my watchlist to my portfolio. Curious as to what criteria or search did you use to find FXR at 40 cents?

[Dazza]

well well well

so just me to enjoy the party ?

oh well

ill keep the profits to my slef :D

valuation of target price has been reached.

Reassessment:

due to new zinc revenue starting in feb, with mining in dec.

the target is a hold at the moment.

until more finances and numbers come out, i will do a new valuation target.

[whiteheron]

Nimble

Apologies for the delay in getting back to you --- have been very busy looking after grandchildren

On checking back have found that I actually first purchased FXR at 50.5c in April 06, selling within a week at 57c
I purchased another parcel in July 06 at 97c, selling within 2 weeks at $1.015

I do a great deal of research, commencing from wherever I can get promising looking information and cant remember exactly how I got on to FXR
I read a lot of articles which I mainly get off the internet, review ASX Announcements, and look into anything that looks interesting
Pretty much start with anything that I can get hold of

[Nimble]

Whiteheron,

Thanks for the comments, not quite the holly grail system I was looking for but good on you, seems to be working for you. Imagine if you had held some of these purchases a little longer!!!

[miner]

Nimble when I did shares I used to find heaps looking at the top ten gainers"and" losers for each day,quick look at the chart of each(very basic chart) then a few ann's,you would be surprised at how many I used to find this way.

Anyway thought might help.

Cheers
Miner

[warrico]

Another good drilling result announced FXR is looking like a winner.

Cheers

[Hawke]

Might get back onto the FOX and some dips- really turned itself around!

H.

[shane_m]

mate trading halt guessing positive drill results..

[Dazza]

talk around HC

is mainly drill results

possible t/o talks but thats a bit left field

i still hold and havent sold :D

[Toddy]

Positive drill results.

I'm in today for a small medium term play.

[Dazza]

welcome to the club toddy :D

[pago]

hi dazza,im having a look at fxr,the sp dropped from$1.97 to 80/90c,now $1.04.as a holder do you know why?loss of confidence in management?share placement at $1.20s?just looking,cheers pago.

[Dazza]

1. grades wasnt as great as they had hoped, that was in december, hense they didnt make as much profit.

2. placement came out of left field, and since then tricom supposedly has been playing with our SP.

not to mention they are also the umm what do u call it, 'underwriter' of the options, ie any not exercised then they take all of it , ie for only 75cents!

so i am peeved off with that.

also we do not know who tricom is buying for. some say the chinese?

at the moment they are making around 2 mill free cash flow.

they have 2 ball mills running.

producing copper and nickel, i tink zinc soon or maybe as well

and recent announcement that htey have found some iron possibly

alot of targets alot of VMS, alot of stuff

IMO them exploring = great
producing.... seems to be having some teething problems.

good time to buy would be around now.

DYOR off course. im still holding mine.

another dislike of the company is that mining financials only done twice a year i tink, instead of in the quarterly no idea why they chose that.

quartely just says how much value is shipped out etc etc.

alot of us are awaiting the top 20 list, see who has raided the company via the oppies etc.

[pago]

hi dazza,thanks,got the drift,im looking,seems management are foxy,maybe theres 50% upside in fxr from this low .let you know what i think,cheers pago.

[Dazza]

yes one would think there is a good 50% upside from this company

i mean the tentaments they hold are amazing!

management mmmmm well i can say that they are producing , got a few items for cheap ie 2nd ball mill with tailings etc.

However just peeved that they said 'we will be sufficient and dun need no more raising to get the nickel plant under way'

then they raised some cash at 1.20

bloody tricom

some speculate a t/o perhaps.

anyhow low MC, for the stuff they have.

[zac]

Sydney - Tuesday - July 10: (RWE Australian Business News) -
Fox Resources' (ASX: FXR) Radio Hill operations in the Pilbara of WA
exceeded forecast production in June. he mill produced 3,910 wet metric tonnes of concentrate for a delivery of 165t of nickel metal, 22% above forecast and record copper metal production of 336t, 77% above forecast. The mill has achieved its target throughput of 45 tonnes per hour. Combined nickel and copper concentrate production for June 2007 has significantly exceeded the production forecast announced on 28 May 2007 of 135t of nickel and 189t of copper metal.
June was the first month of full production at Radio Hill after
commissioning the second ball mill in May 2007. A bulk concentrate
shipment of 117t of nickel and 211t of copper metal departed the Port of Dampier last week.

[Dazza]

Iron ore found, and in talks with the chinese supposedly.

up 11cents as i type or 10%

pago i hope u had the opportunity to buy at 90cents - 100 cents

[pago]

hi daz,i got in before the production upgrade but not a large stake as i wasnt certain the downtrend was over.its over now.the production upgrade and iron ore possibility have turned sentiment.there may be upward resistance/selling given the previous share price drop.some holders will want out.equally if we get another good ann fxr could really break upside.do you have an exit target or hold blue sky?cheers pago.

[Dazza]

mmmm no i do not have an exit strategy

at the moment im heavily in the red

i think i need SP to be 156cps or soemthing to be even

so until it gets there ill have a look

plus also depends on developments etc

eg t/o , jv;s etc

[Dazza]

also i am awaiting its half yearly report :D

[pago]

hi daz,just a few random thougths,fxr is on uptrend,the$1.20 placement will create resistence even now,my target is $1.20,really $1.50.i dont invest unless i can see 50% over6/12 months.good luck cheers pago

[Dazza]

well pago fxr up 9 cents or 7% to 1.22 at the moment

word has it iron seems to be big very big.

im just peeved off now that i only exercised 1/3 of my oppies isntead of 100% oh well.

Looking on the charts
the OBV started rising on the 21st june

on the 1st and 2nd of july the price action bolted along with 10% increases per day.

on the 2nd it seemed that the LT downtrend for the last 8 months was broken.

It is clearly in a uptrend now.

buy on weakness id say

resistance at 1.40 and 1.80

tricom picked up prob 2.2 million options that lapsed ie at 75cents each, so clearly they will have made a few million or so

bah!

disgusted at tricom!

[pago]

hi daz,fxr looking good,closed at $121.5,i need to see it move convincingly above the 1.20 level.if it does it will run.its early days to assess the iron ore prospect,i havent seen anything but speculation.enlighten us if you know better.im holding,good luck,cheers pago.

[Dazza]

neither

im not really in it for the iron ore

be good if they can get a jv, and say retain 30-40% or soemthing, and dun have to spend a cent until BFS or soemthing or even PFS

they need to concentrate on their copper/nickel/zinc, get 2 good quarters of production under them

they have a heap of VMS deposits to explore still

[pago]

hi daz,fxr ann hardly a company maker.more important fxr closed at $1.27,it needs to break above $1.20 convincingly which has been hard work over the last few weeks.fxr is worth a hold,if they ann a strong iron ore prospect,imo it will run.cheers pago

[whiteheron]

Yes, the market seemed to get quite worked up about the FXR Trading Halt but in my opinion it could have been made in the normal course without the halt
This is what would have happened with the vast majority of companies

I get the impression that FXR was looking for exposure by adopting the course that they took

[Dazza]

no need for TH for that kind of ann. IMO too

either way the SP is up so i cant complain can i :D

a break past 1.20 is good, since that was the last placement price

iron ore going to take ages, cant drill till november i tink

the result is quite importnat ie todays one, just need the grades now

not much capital to turn it into a mine u c

im awaiting the half yearly, gotta see how profitable the mining has been

there is no question on their exploring

but their mining abilities...... was soured in december..

[zac]

Jinchuan (also in AGM) is taking an 11% stake at 95c. p/s. A vote of confidence to pay a 33% premium to present sp of 63.5c. Securing forward supplies of Nickel I guess.

[SCHUMACHER]

ZAC....Jincheun are very smart company with solid management. They have a knack of sniffing out opportunities and show confidence when they purchase....its fair to say they know their own back yard better than alot of us.......They are Chinas largest supplier of NI concentrate........this placement at 95c shows strength in forward earnigns for FOX......almost kind of a Mark to Market mentality , like hedging future prices....haha

Happy as I spotted the move today and got in at 60c......cheers Schumacher

[COLIN]

Happy as I spotted the move today and got in at 60c......cheers Schumacher

Kindly advise your s.t. mates also, in future!!!!!!!!!!!!!!!

[drillfix]

Hi Folks,

Looks like there hasn't been a post on this thread for a while, so I guess I may as well spice it up before the mould starts appearing on the thread name...LOL.

SP action now up to 0.80 cents and from a charting perspective, now looks like back on an upward trend.

No news over the last few days of gains however, I would have thought we would hear something soon to justify the move, or perhaps something to do with the Chinese options conversion up the road perhaps???

No doubt the drilling at Mt. Oscar will be a long awaited event, but one would also think we would be getting set to hear some results of other exploration and drilling.

Lets hope this upward momentum keeps going~!

[absolut-advance]

Nice Clean Break

AA

[drillfix]

Nice Clean Break

AA


AA
And yet another Nice and Clean break, excellent :cool:

some great news must be on the way, surely :D

[drillfix]

AA
And yet another Nice and Clean break, excellent :cool:
some great news must be on the way, surely :D


Sheeez, here I am replying to my own posts.

Anybody out there?????

No Fox holders on the whole of STnz ???

Can somebody please dash over to HC and tell the loyal Fox holders that Drillfix says Gday and that I only discuss my Fox - FXR babble over here.

Up to $1.05

Looks like the chinese will be happy with this move as well as Streeter also adding to the pot.

Iron ore drilling in June but something happening here folks, perhaps some results any day/week????

Anyways, so any readers knows Ive been holding fox for years and its been a long ride. Many say should have sold at $1.90+ last time up, but then we didnt polish our crystal ball.

Looks like the turn around has been done and will continue on IMO~! :rolleyes:

[Huang Chung]

Sheeez, here I am replying to my own posts.

Anybody out there?????

No Fox holders on the whole of STnz ???



Unless Fox go looking for oil, coal seam gas or do a uranium deal with some ex Warsaw Pact country, you'll be talking to yourself at the moment Drillfix. :D

[drillfix]

Hi Huang,

LOL, yup, correct you are.

I would have thought that at least some folk would have a spread across a couple of sectors with their investments.

I also see you too have been chatting to yourself on PDZ :eek: lol :D


Ahhh well, as long as we all do well somewhere, sometime, in this market evironment~!

thanks again for your reply :)

[drillfix]

Hey there all you invisible Fox Fans, how are ya? :)

Looks like if this company doesnt announce something soon in the short term it is back down the ladder we go.

For all you T/A heads out there, looks like Head and Shoulders forming so hence the potential downward ride on the ladder.

Ahhhh well, typical, market giveth, market taketh, you know how it is~!