South Boulder Mines (STB): da next big MAK?

[tommy]

Okay boyz, time for another high-risk microcap mining spec play.

As you know, I am currently trading mining companies focusing on the booming ag sector.

South Boulder Mines (STB) shot up recently due to its potash project review announcement and today attracted more interest with its announcement on phosphate project.

ASX Code: STB
Share Price: 23 cents
Market Cap: $11M
Shares on issue: 44.12M
Cash at Bank: $1.1M
ASX/TSX listed shares: +$2.0M
Top 20 shareholders – 57%

website: www.southbouldermines.com.au

Keep an eye on STB, it might skyrocket or drop like a lead balloon in the weeks ahead but the recent announcements have put STB on the radar of many ag resource speculators that are eager to exploit the hype that drove MAK all the way up! DYOR:-)

Chart:
http://asx.netquote.com.au/charts.asp?code=stb&x=0&y=0


http://sa.iguana2.com/cache/a762d8486162ce748fb7c65bc81849fd/ASX-STB-397938.pdf

CARDABIA PHOSPHATE PROJECT


South Boulder Mines is pleased to announce that it has completed a preliminary review of its 100% owned “Cardabia Phosphate Project”.

This review has highlighted that significant phosphate mineralisation has been outlined at the Cardabia Project by previous exploration in the late 1980’s. A review of available data has outlined excellent results by previous explorers with grades of up to 49% P2O5, as well
as numerous grades within the 25% - 30% P2O5 range from +5mm samples fraction obtained from drilling.

The project comprises a single exploration licence E08/1850 covering approximately 593km² of prospective phosphate bearing stratigraphy within the northern Carnarvon Basin.
The Cardabia Phosphate Project (see diagram attached below) is located in the northern
Carnarvon Basin in Western Australia, approximately 200km north, north east from
Carnarvon.

The Project area contains extensive phosphate nodules hosted within Late Cretaceous
contact zones between the Gearle Siltstone - Toolonga Calcilutite and Toolonga Calcilutite -
korojon Calcarenite.

Wide spaced aircore drilling (approximately 7km x 3km) by CRA Exploration Pty Ltd during
1989-90 demonstrated that phosphate mineralisation was widespread throughout the licence.
The spoils from drilling were screened to the +5mm size fraction and then assayed.
The mineralisation intersected by CRA Exploration Pty Ltd was from wide spaced drilling
traverses across the White Peaks Syncline. Numerous encouraging results were returned and
South Boulder’s immediate exploration target will be to locate depressions along the White
Peaks Syncline which is considered favourable for the economic accumulations of phosphate
nodules.

__________________
http://sa.iguana2.com/cache/7c34f1d7e11d0a0de8a10e24e7545373/ASX-STB-397244.pdf

Update on Potash Project at Lake Disappointment East

South Boulder Mines is pleased to announce that it has commenced a review of the potash potential at its 100% owned Lake Disappointment East Project.

The project comprises a single exploration licence application (E45/3122a) covering approximately 572km² over the same lacustrine system which contains Reward Minerals Ltd’s JORC compliant potash resource of 8,635Mt @ 3.17kg/t for 27.37Mt K2SO4. The licence is immediately east of and adjacent to Reward’s Project area.

The prospectivity of this area has been enhanced by recent significant strengthening in fertiliser commodity prices and South Boulder intends to expedite the grant of this licence with a view to commencing on-ground work as quickly as possible.

The Lake Disappointment East Project (see diagram attached below) is located in the
Gibson Desert in Western Australia, approximately 400km from Newman. Low rainfall and high precipitation have resulted in evaporate salt deposits in the area. The Project area contains two key target lacustrine systems covering in excess of 80km² of prospective drainage.
Potash prices are expected to reach record highs in 2008 driven by increasing populations placing demand on food supplies, as well as new demand from the biofuels industry.

In addition infrastructure advancements by Reward in the area would significantly
enhance the project economics of any discovery. Potash is a generic term for potassium salts with its primary use as an ingredient in agricultural fertilisers. There is no known substitute for potassium as a plant nutrient. World consumption is currently in excess of 50M tonnes per annum and demand is expected to outstrip supply over the next 5-10 years.
Upon grant of the licence South Boulder intends to commence exploration efforts to
determine the potential for the project to contain an economic potash resource.

[pago]

Okay boyz, time for another high-risk microcap mining spec play.

As you know, I am currently trading mining companies focusing on the booming ag sector.

South Boulder Mines (STB) shot up recently due to its potash project review announcement and today attracted more interest with its announcement on phosphate project.

ASX Code: STB
Share Price: 23 cents
Market Cap: $11M
Shares on issue: 44.12M
Cash at Bank: $1.1M
ASX/TSX listed shares: +$2.0M
Top 20 shareholders – 57%
good
website: www.southbouldermines.com.au

Keep an eye on STB, it might skyrocket or drop like a lead balloon in the weeks ahead but the recent announcements have put STB on the radar of many ag resource speculators that are eager to exploit the hype that drove MAK all the way up! DYOR:-)

Chart:
http://asx.netquote.com.au/charts.asp?code=stb&x=0&y=0


http://sa.iguana2.com/cache/a762d8486162ce748fb7c65bc81849fd/ASX-STB-397938.pdf

CARDABIA PHOSPHATE PROJECT


South Boulder Mines is pleased to announce that it has completed a preliminary review of its 100% owned “Cardabia Phosphate Project”.

This review has highlighted that significant phosphate mineralisation has been outlined at the Cardabia Project by previous exploration in the late 1980’s. A review of available data has outlined excellent results by previous explorers with grades of up to 49% P2O5, as well
as numerous grades within the 25% - 30% P2O5 range from +5mm samples fraction obtained from drilling.

The project comprises a single exploration licence E08/1850 covering approximately 593km² of prospective phosphate bearing stratigraphy within the northern Carnarvon Basin.
The Cardabia Phosphate Project (see diagram attached below) is located in the northern
Carnarvon Basin in Western Australia, approximately 200km north, north east from
Carnarvon.

The Project area contains extensive phosphate nodules hosted within Late Cretaceous
contact zones between the Gearle Siltstone - Toolonga Calcilutite and Toolonga Calcilutite -
korojon Calcarenite.

Wide spaced aircore drilling (approximately 7km x 3km) by CRA Exploration Pty Ltd during
1989-90 demonstrated that phosphate mineralisation was widespread throughout the licence.
The spoils from drilling were screened to the +5mm size fraction and then assayed.
The mineralisation intersected by CRA Exploration Pty Ltd was from wide spaced drilling
traverses across the White Peaks Syncline. Numerous encouraging results were returned and
South Boulder’s immediate exploration target will be to locate depressions along the White
Peaks Syncline which is considered favourable for the economic accumulations of phosphate
nodules.

__________________
http://sa.iguana2.com/cache/7c34f1d7e11d0a0de8a10e24e7545373/ASX-STB-397244.pdf

Update on Potash Project at Lake Disappointment East

South Boulder Mines is pleased to announce that it has commenced a review of the potash potential at its 100% owned Lake Disappointment East Project.

The project comprises a single exploration licence application (E45/3122a) covering approximately 572km² over the same lacustrine system which contains Reward Minerals Ltd’s JORC compliant potash resource of 8,635Mt @ 3.17kg/t for 27.37Mt K2SO4. The licence is immediately east of and adjacent to Reward’s Project area.

The prospectivity of this area has been enhanced by recent significant strengthening in fertiliser commodity prices and South Boulder intends to expedite the grant of this licence with a view to commencing on-ground work as quickly as possible.

The Lake Disappointment East Project (see diagram attached below) is located in the
Gibson Desert in Western Australia, approximately 400km from Newman. Low rainfall and high precipitation have resulted in evaporate salt deposits in the area. The Project area contains two key target lacustrine systems covering in excess of 80km² of prospective drainage.
Potash prices are expected to reach record highs in 2008 driven by increasing populations placing demand on food supplies, as well as new demand from the biofuels industry.

In addition infrastructure advancements by Reward in the area would significantly
enhance the project economics of any discovery. Potash is a generic term for potassium salts with its primary use as an ingredient in agricultural fertilisers. There is no known substitute for potassium as a plant nutrient. World consumption is currently in excess of 50M tonnes per annum and demand is expected to outstrip supply over the next 5-10 years.
Upon grant of the licence South Boulder intends to commence exploration efforts to
determine the potential for the project to contain an economic potash resource.

good report tommy,are there any listed options,cheers pago,

[tommy]

good report tommy,are there any listed options,cheers pago,

Hi pago, no listed options that I am aware of... which is a shame, looking at how much MAKO and GDAOA have bounced in line with the spike in the heads.

Anyway, cash is low at STB so to do any exploration, they are gonna have to raise capital so bear that in mind. That said, it's only an 11 million market cap company, so downside may be limited compared to the crazy hype surrounding fertilizer sector at the moment.

[pago]

Hi pago, no listed options that I am aware of... which is a shame, looking at how much MAKO and GDAOA have bounced in line with the spike in the heads.

Anyway, cash is low at STB so to do any exploration, they are gonna have to raise capital so bear that in mind. That said, it's only an 11 million market cap company, so downside may be limited compared to the crazy hype surrounding fertilizer sector at the moment.

hi tommy,i will have a closer look,the spec market is not dead,ie brm up 165% today on iron ore prospects,need to be carefull in this market,if stb need cash thats an issue.thanks for the look,cheers pago

[tommy]

Today's price movement showed that a lot of profit taking took place among traders who bought STB a few days ago.

http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=AU%3Astb&draw.x=45&draw.y=14

This is still the very early days but at least the trading volumes are good.

[STRAT]

Thanks for the heads up Tommy and sorry for my late reply on NSL

[shasta]

Thanks for the heads up Tommy and sorry for my late reply on NSL

Strat - didnt i PM you re STB 3 days ago :D

[STRAT]

Strat - didnt i PM you re STB 3 days ago :D
Oh yeah :eek:

So its the same STB then? lol :D

What can I say :o:o:o

[shasta]

Oh yeah :eek:

So its the same STB then? lol :D

What can I say :o:o:o

Im going to ignore the short term phosphate hype...

Whats the global demand v supply?

It's another bubble ready to burst IMO.

Potash, now speak to me :D

[tommy]

Thanks for the heads up Tommy and sorry for my late reply on NSL

No worries dude :-)

BTW " STRAT other IDs shasta & Serpie" = Does that mean STRAT is SHASTA is SERPIE?! Same person????? I am confused"

[shasta]

No worries dude :-)

BTW " STRAT other IDs shasta & Serpie" = Does that mean STRAT is SHASTA is SERPIE?! Same person????? I am confused"

No thats just "Strats" humour.

Serpie & i are different people, i meet him at an early Wellington ST meeting.

Strat = Auckland
Serpie = Christchurch
Shasta = Wellington

Hope that clears it up

[tommy]

Thanks for the clarification Shasta,

I was wondering whether the three amigos represented some kind of nutter with a triplicated personality:-P

Are you holding/trading STB? Or not interested in the potash/phosphate hype?

[shasta]

Thanks for the clarification Shasta,

I was wondering whether the three amigos represented some kind of nutter with a triplicated personality:-P

Are you holding/trading STB? Or not interested in the potash/phosphate hype?

As i posted earlier i looked up STB a few days back on the back of the IPL/MAK rises....

It's taken off, im just not sure of the fundamentals on a stock that appears driven by spec traders...

I like Potash, hence i'm holding ADY (RLL post split).

The 3 amigo's are actually Shrewd, Serpie & Oiler & i've meet all 3.

[STRAT]

No worries dude :-)

BTW " STRAT other IDs shasta & Serpie" = Does that mean STRAT is SHASTA is SERPIE?! Same person????? I am confused"I had forgotten about that Tommy. It was a joke relating to posts on some thread a while ago. I cant even remember which one now. I have removed it :o

[esprit]

Tommy are you holding STB?

[tommy]

As i posted earlier i looked up STB a few days back on the back of the IPL/MAK rises....

It's taken off, im just not sure of the fundamentals on a stock that appears driven by spec traders...

I like Potash, hence i'm holding ADY (RLL post split).

The 3 amigo's are actually Shrewd, Serpie & Oiler & i've meet all 3.

I agree with you that these specs have very little if any fundamentals :-P
But if you look at the market of late, iron ore and fertilizer sectors seem to be the only ones resisting the downtrend, and there are enough bored traders ready to make a punt when they see a bit of volume and momentum rising in a spec stock.

STRAT:
No worries mate, it's healthy to have a sense of humor in a miserable market hehehe


esprit:
I hold a small portion but as I said, this is high risk due to low cash levels so don't bet your house on it!!

[STRAT]

Bought some of these this avo at 23 & 24c as the traders seemed to be getting out for the long weekend.

The next BIG MAK you reckon Tommy?
I will settle for a couple of Cheese Burgers.

Hope you are right :D

[tommy]

Good luck mate, I don't hold any shares over da weekend because I am a chicken :-P

STB only have $1m in cash now, funding might be required soon.

If you are interested in potash/phosphate fertilizer industry, I am sure you are aware of IPL, MAK and RWD but also keep an eye on MNM, BON, MLX as well. In this volatile market, booming fertilizer sector is where I am putting my money :-)

[STRAT]

Good luck mate, I don't hold any shares over da weekend because I am a chicken :-P

STB only have $1m in cash now, funding might be required soon.

If you are interested in potash/phosphate fertilizer industry, I am sure you are aware of IPL, MAK and RWD but also keep an eye on MNM, BON, MLX as well. In this volatile market, booming fertilizer sector is where I am putting my money :-)Thanks for that Tommy,
BON is one I havent looked over

[crisstoff]

Another couple to have a look at are

CII - a phosphate producer. I suggest working out what the new figures may be from Phosphate Resources - IMO plenty of upside.

KRB - a specie, but have tenenaments surrounding IPL's Phosphate Hill near MT Isa.

SMD - has some historic drill results grading 25-27% P2O5. Also an interesting Rhenium and Molybdenum Prospect.

I also hold MAK and RWD.

[STRAT]

Another couple to have a look at are

CII - a phosphate producer. I suggest working out what the new figures may be from Phosphate Resources - IMO plenty of upside.

KRB - a specie, but have tenenaments surrounding IPL's Phosphate Hill near MT Isa.

SMD - has some historic drill results grading 25-27% P2O5. Also an interesting Rhenium and Molybdenum Prospect.

I also hold MAK and RWD.Hi Crisstoff,
Are you having a play in all of those or just the last two

[tommy]

Thanx for the list of other companies crisstoff, I wasn't aware of those three... worth researching indeed!

[crisstoff]

As well as MAK and RWD I hold CII and KRB. I may buy SMD, but I am still trying to research a bit further.

CII. Cash - $5M. Mkt Cap $39M

CII has a 38.76% interest in Phosphate Resources which produces 700,000tpa of Phosphate. Using my figures the share price is very cheap on this alone - but please DYOR. They are trying to get more areas to mine, but have been turned down, they will be appealing. Even so they still have 5-7 years left. They have some interests in China, but it is early days there.

KRB. Cash - $5M. Mkt Cap $14.5M

KRB IPO'd November 2007, so its early days, however they hold ground in the Mt Isa area and some of it has potential. With regard to Phosphate, they really only looked at it with the recent rising prices.Their tenements are near Phosphate Hill and some past results are encouraging - very much a speccie though. Dr Leon Pretorius holds 3.4M shares - 6.4%, he was onto MAK early and I think RWD, but Im not sure.

http://www.kruciblemetals.com.au/userfiles/file/exploratupdateasx-mar08inclfigures.pdf

SMD. Cash $6M. Mkt Cap $13M

IPO in December 2007. Is free carried in a RE and Mo Project, which has potential. Also has some dirt in Mt Isa, which has returned some good copper grades in the past. The Phosphate Prospect is in W.A. and has had some drilling done in the 60's returning 25-27%.

http://www.syndicatedmetals.com.au/reports/asx080319.pdf


Regarding STB to be honest I havent got around to looking at them yet, but will be today, so will give my views.

[STRAT]

STB up 20% in the last hour anyone else see this sudden flurry of activity and more to the point anyone know why?

[STRAT]

Having missed MAK and RWD I bought some STB last month in the hope this would in fact be the next Big MAK. So far lookin good. GCR also looking good for a trade.

[STRAT]

Good luck mate, I don't hold any shares over da weekend because I am a chicken :-P

:-)Hi Tommy,
why is that? I often buy on a Friday afternoon as the day traders are leaving the building. Never have quite grasped the significance of the weekend sell down. What is it, two extra days for the world to end or something? :confused:

[tommy]

Hi Tommy,
why is that? I often buy on a Friday afternoon as the day traders are leaving the building. Never have quite grasped the significance of the weekend sell down. What is it, two extra days for the world to end or something? :confused:

Only recently I have started doing this since the subprime fallout... just prefer to have cash over the weekend (peace of mind) so I can completely reevaluate my position on a weekly basis.

Anyway, STB might not be a BIG MAK yet but might turn into a cheeseburger soon, today's rise is backed by increasing volume. Any rumors????

[jeremy b]

Brought some of these last week for 29c.Good to see it up today.They seem to be exploring the same area as rwd.Looks like they have a few annoucements coming up.Article in the australian today didn't do them any harm either.

[STRAT]

might turn into a cheeseburger soon, today's rise is backed by increasing volume. Any rumors????I will be glad to settle for a couple of cheeze burgers :D
The only rumour I know of was the snipit in an article in the Australian as mentioned above by Jeremy.

[STRAT]

Im going to ignore the short term phosphate hype...

:DAnd hype it is . No doubt. Shasta/anyone know where I can get regular updates on spot prices etc?
Would like to be first out, best dressed when the balloon pops:D

[STRAT]

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00839572

Now thats what I call a timely announcement :D:D:D :rolleyes::cool:

[tommy]

Yup, the cheese burger is growing :-)

http://www.news.com.au/dailytelegraph/story/0,22049,23651806-5014099,00.html


Incitec prospers on food demand
Article from: The Daily Telegraph

By Andrew Carswell

May 06, 2008 12:00am

THE global food shortage, which is leading to food riots in many parts of the world, continues to provide prosperous times for Incitec Pivot.

The fertiliser giant yesterday heralded a half-year profit of $169.8 million, a mammoth 197 per cent increase on the previous corresponding period last year.

The soaring price of fertiliser, driven by the quest to improve crop yields, continues to be the primary factor.

The price of diammonium phosphate (DAP) - a key ingredient in fertiliser produced from Incitec Pivot's Queensland deposits - has jumped to $US1220 a tonne, up 140 per cent over the last six months, and up 380 per cent since January 2007.

It is this factor above all else that analysts believe will push Incitec Pivot shares above $200, the first Australian company to reach such rarified air since the 1970s nickel boom that sent Poseidon to over $270.

Yesterday's result, which oddly failed to move the company's share price upwards, was slightly higher than the consensus analysts' forecast of $167.9 million.

The company now expects higher annual earnings than previously forecast after delivering its full-year cost savings in the first six months.

"The current forecast between $700m and $730m looks very conservative," Incitec chief financial officer James Fazzino said. "Our internal forecast at the moment is $850m."

IPL also announced an interim dividend of $2.04, up 245 per cent.

ABN-Amro Morgans analyst Belinda Moore told The Daily Telegraph the good times at IPL should continue, with DAP prices likely to increase in the short term.

"The prices won't be going backwards anytime soon and some even suggest they will be going higher," she said. "We would expect in the next 12 months to see Incitec Pivot shares over $200 a share."

In a research paper, Citigroup analysts said: "So long as food price inflation remains a concern, fertiliser producers should continue to enjoy unprecedented pricing power in a supply constrained market."

Analysts believe investors are waking up to the value that lies in IPL's tiny rivals, the majority of whom are yet to dig an ounce of phosphate or potash out of the ground.

"There are a few small mining companies that are on the pathway. Minemakers is a company whose name is being thrown around lately," Ms Moore said.

Other companies on the radar include potash company Reward Minerals, South Boulder Mining, Mantle Mining and Joe Gutnick's Canada-listed Legend International.

[tommy]

STB down 15% today, ouch...

Market didn't like today's announcment:

http://www.stocknessmonster.com/news-item?S=STB&E=ASX&N=406548

"Clarification of Announcement on 6 May 2008

On 6 May 2008, South Boulder Mines Ltd (ASX: STB) announced the signing of an Access Agreement with the Traditional Land Owners (the Martu People) of the area in which the Lake Disappointment East Potash Project is located.

The announcement stated that the Lake Disappointment East Potash Project consists of a single exploration licence application. It further stated that the signing of the Access Agreement “removes any impediments to the grant of the Project”.

By way of clarification, South Boulder confirms that the signing of the Access Agreement allows the exploration license application to proceed with the DoIR and paves the way to grant of the license. When the exploration licence is granted, South Boulder will need to undertake site specific archaeological and Aboriginal heritage surveys in areas of proposed exploration activity on the exploration licence in consultation with the Martu People before work can commence. If additional exploration activity is planned this will also require heritage clearance from the Traditional Owners. Furthermore if the exploration project develops towards a possible mining scenario, then additional agreements will need to be negotiated between South Boulder and the Traditional Owners in respect of those plans."

_______________
WTF, I thought this would be obvious to investors of STB?? Didn't we know all this stuff already? Yet the market is acting very negatively... mmm, not happy jan.

[tommy]

STB ready to rock n roll after Fridays announcement?!

_________________


SPROTT ASSETT MANAGEMENT TAKES $2 MILLION PLACEMENT IN SOUTH BOULDER MINES LTD

South Boulder Mines (ASX Code: STB) is pleased to announce the details of a capital raising which will raise AUD $2 million via a placement of 6.4 million shares at an issue price of 31 cents. The funds raised will be used to advance the company’s move into the exploration for potash and phosphorous “fertilizer” minerals and advancement of the Duketon Project.
The placement consists of two tranches, “Tranche 1” of 4.3 million shares with a 1 for 2 free attached 2 year option with an exercise price of 50 cents raising approximately AUD $1.3 million immediately. The second tranche “Tranche 2” will require shareholder approval and will consist of 2.1 million shares with a 1 for 2 free attached 2 year option with an exercise price of 50 cents raising approximately AUD $0.7 million.

South Boulder Mines welcomes the support of Sprott Asset Management (“Sprott”) in participating in the issue.

Integral Wealth Limited (Toronto) acted as Lead Manager to the Placement.

________________

will continue his involvement with the Company in the position of Executive Director.
Additionally, Mr Terry Grammer has been appointed Chairman of the board replacing Mr Brian Rear who is resigning from the board to concentrate fully on his role as Managing Director of CopperCo Limited.
Finally, Mr Dennis Wilkins resigns as Non-Executive Director and remains Company Secretary
David “Lorry” Hughes – Managing Director
Mr Lorry Hughes BSc. MAusIMM, is a Geologist with 15 years industry experience and was South Boulder Mines’ Exploration Manager since March 2008.
Mr Hughes has held management positions on exploration and operational mining projects for Energy Metals Ltd, CSA Australia and Energy Resources Australia. His industry experience was gained from various gold mines and exploration prospects in the NE goldfields of Western Australia while working for Plutonic/Homestake, Aberfoyle and Mt Grace. Mr Hughes has also experience in Malaysia and Indonesia working at the Penjom gold mine in Malaysia and on gold and base metals exploration projects for Pt Inco in Indonesia.
Mr Hughes has previously been responsible for mining and exploration/development operations management including, geological resource interpretation/estimation, project generation, mine planning, near mine resource development and environmental management.
Terry Grammer – Executive Chairman
Mr Terry Grammer is a geologist with a history of exploration success over his 35 year career. He is credited with the discovery of the Cosmos Nickel mine W.A. for which he received the joint prospector of the year award in 2000. Mr Grammer was a founding
South Boulder Mines Ltd
ASX Announcement
Board Re – Structure
South Boulder Mines Ltd. ABN 56 097 904 302
133 - 135 Edward Street, Perth, WA 6000
PO Box 8355, Perth Business Centre, WA 6849
Phone: (08) 9227 1144 Fax: (08) 9328 8302
member of Western Areas NL which is focused on developing the Forrestania Nickel Project in W.A.
Currently Mr Grammer is a non-executive director of Hannans Reward Limited and a founding director of Montezuma Mining Company Limited.
South Boulder thanks Mr Rear for his efforts in the formative years of South Boulder where he was instrumental in the Company’s IPO process and listing on ASX.
South Boulder looks forward to the rapid advancement of its exploration portfolio and to bringing shareholders news and updates on progress as they occur.
Dennis Wilkins
Company Secretary

[tommy]

New Georgina Basin Phosphate Project

South Boulder Mines (ASX: STB) is pleased to announce that it has further strengthened its position in the fertiliser sector by applying for seven additional exploration licenses that form the Central Georgina Phosphate Project in the Northern Territory Australia.
The exploration licenses, EL26760 – EL26766, are located in the central Georgina Basin and comprise a total of 5,761 km2.

The tenements will target areas with similar geological characteristics to known phosphate deposits and occurrences within the Georgina Basin.
Tenements EL26763, EL26764, and EL2676 are in close proximity to historic phosphate occurrences at Alexandria, Alroy, and Buchanan Dam (Figure 1).

Numerous holes have been drilled in the area including 88 holes at the Alexandria Prospect. Drilled intercepts include 6.1m @ 15.6% P2O5 from 49m and 3.8m @ 13% P2O5 from 53m.
South Boulder intends to immediately commence detailed historical data compilation and evaluation of regional geophysical and geochemical datasets to identify targets that warrant further exploration.

The Central Georgina Basin Project is located in the central east Northern Territory approximately 1,000 kms south east of the Port of Darwin.

The phosphate deposits in the Central Georgina Basin are hosted in Lower to Middle Cambrian marine carbonate and clastic sediments including mudstones, claystones and limestones. The deposits are formed by chemical and biological precipitation.

The largest deposits in the area include the Wonarah Deposit (1,955Mt @ 14.4% P2O5, MAK JORC Resource) and a historic resource at Highland Plains (Phosphate Australia Pty Ltd).
Companies that have previously explored in the region for phosphorites between 1968 and 1977 include IMC Development Corporation, Australian Geophysical Pty Ltd, Pickands Mather & Co, Minoil Services Pty Ltd and ICI Australia Limited. Rio Tinto Limited explored the Wonarah deposit in 2001.

[COLIN]

No postings for over two years, notwithstanding the substantial and continuing gains. Seems surprising. I thought you would still be "plugged in" Strat!. Seems to be arousing a fair bit of interest today, following the above-market share placement. Lots of shallow potash. Am hesitant to climb in now, though.

[drillfix]

Yeah Colin, its funny that. The star casually walks up the street totally not noticed.

And with only 74M shares on issue. Would anybody have any targets in mind? At present, it looks a bit toppy, so I would expect an eventual ease back to the sp at least, but who knows hey.

Rewind back and I recall to myself, this stock was always the stock I was going to buy yet never ended up getting any.

[STRAT]

I thought you would still be "plugged in" Strat!. .I must confess to completely forgetting about this one Colin :blush:

It fell off my watch list early in 09

[asc4]

Man, I have had this on my watchlist since around the 90c mark, which was like a month ago! Hit $3 today. I always hesitate to hit that buy button on winners (very good at it on losers).