Syndicated Metals Limited (“SMD”) – Mount Isa Copper

[steve fleming]

I really like EKM as a company http://www.sharetrader.co.nz/showthread.php?7153-Eleckra-Mines-Ltd-%28-quot-EKM-quot-%29-749koz-gold-free!!
- apart from its assets, EKM has a relatively young Board (all in their 40s), they are commercial, good communicators, pro-active, and willing to commit to aggressive drilling to add value to the company (even if it means regular cap raisings).

SMD has a very similar background to EKM– they both IPO’d in 2007 having both acquired tenements from the US copper giant ASARCO after it entered bankruptcy in 2006.

They both share two common directors (Chairman Martin Pyle – ex-Hartley’s and who previously was the corporate advisor to both EKM and SMD; and Russell Davis – who was ex-ASARCO and founded both EKM and SMD), and have some common large shareholders.

They both also share an aggressive exploration philosophy and also have a clearly defined strategy (i.e. one major project focus) which they are both progressing successfully.

Anyway, about SMD, it is aggressively drilling large tenements that they control in the Mount Isa region for high grade copper plus gold credits.

SMD is rated the second cheapest Australian copper explorer on an EV/tonne basis (refer page 20 Sept10 Empire Resources presentation http://stocknessmonster.com/news-item?S=ERL&E=ASX&N=504042) with their current JORC resource of 47,000 tonnes copper plus 49% of 112,000 tonnes attributable to its Kalman project JV.

JORC is to be updated based on a further 6 - 9 months of drilling and 3 new discoveries in the upcoming quarter. Grades are on the high side – 1.2% - 2% ish, plus gold credits! Updated JORC will be followed by a scoping study to investigate development options.

With a market cap of about $10m, and EV of $7m it is under the radar – no comments about it on Hot Copper which i like.
Nice tight register with only 71 mil shares on issue, 15% owned by Korea Zinc.

Alex Cowie from Diggers and Drillers states that “If you're going to be invested in a single metal this decade, my advice is to back copper. Specifically - companies that are sitting on long-life, high-quality copper resources”

SMD is cheap, undervalued, good management, defined strategy and IMO offers excellent exposure to a developing Australia copper play.

[steve fleming]

Not exactly an AVB-like increase – but i’ll take a 22% increase in SMD today.

Lots of positive news flow coming up with SMD in the next quarter which should sustain a nice re-rate.

[steve fleming]

(http://hotcopper.com.au/post_single.asp?fid=1&tid=1256042&msgid=7124570)
(http://hotcopper.com.au/post_single.asp?fid=1&tid=1256042&msgid=7127021#) Following on from Minesite's story yesterday on EKM, here is Minesite's thoughts on SMD.

EV of SMD still about $8mil.


September 28, 2010

Syndicated Metals Continues To Hit Good Grades As It Moves Towards A Maiden Resource At Blue Star, And A Resource Update At Barbara.

By Nadia Cavallaro and Alastair Ford / www.minesite.com

Australian-listed Syndicated Metals is closing in on a maiden resource at its 51 per cent owned Blue Star copper-gold deposit, part of the Mount Remarkable project, near Mt Isa in north Queensland. After an extensive drilling programme over the last couple of months, the Perth-based explorer has been able to report a string of good looking results showing good copper and gold intersections.

"We have just released encouraging drill results for the Blue Star prospect in the Mount Remarkable project, where there is very good potential for an open pit copper sulphide resource," company managing director Russell Davis said. The company hopes to have a resource at Blue Star in the first half of 2011.

Extensive drilling has also been completed on the company's flagship Barbara North and Barbara South copper-gold deposits, which also comprise part of the Mount Remarkable project, and for which a resource update is due in the fourth quarter. Syndicated's current copper resource at Barbara North is 47,000 tonnes and 14,000 ounces of gold.

Green Zone, another deposit adjacent to both Barbara North and South is also of interest in this neck of the woods. Davies said that Green Zone needs additional drilling, but he added that already he is seeing good potential for an open pit there. Syndicated will start drilling up to 2,000 metres at copper targets at Mt Margaret and the northern extension at Green Zone next week. "They are good targets," Davis noted.

In August, Syndicated Metals expanded its portfolio in the copper producing region of Mt Isa by acquiring four tenements from copper junior Altona Mining. One of them, Dronfield, is directly along strike from the company's Kalman molybdenum-rhenium-copper-gold deposit. Syndicated bought the tenements for 1.5 million shares, giving Altona Mining a two per cent shareholding in the company. Syndicated has a 49 per cent interest in the Kalman project. Majority owner King Minerals is currently conducting a scoping study at the site.

Once the resource is revised, the company will complete a scoping study to determine the best way to develop the Barbara deposits. And although Syndicated hopes to finish the year with around A$2 million in cash, it will need to fund a scoping study through the issue of more equity, Davis noted. It's worth noting at this juncture, though, that Korea Zinc, one of the world's largest zinc producers, owns a 14.9 per cent stake in Syndicated, so the company is no stranger to attracting big names onto its register, and may indeed have a head start when the time comes for it to start sounding out its funding options.

After all, it's a propitious time to be working up copper and gold projects, and not a bad time to be investigating IOCG targets either. And that's even before we get into the company's exposure to other commodities, including rhenium, uranium and potash. For commodities bulls, this definitely looks like one to follow, and as the markets get into their stride for the final trading season of the year, it's perhaps no surprise that Syndicated's shares have started to gain ground. A steady flow of news should help to keep that momentum going.

[trackers]

Really good find here SF, been researching it a lot this week.. Missed a 14.5/15 entry due to lowball offers + having to pull an order that would have got filled because of an ASB stuff-up (grrr!) but took a position today. Looking forward to the JORC upgrade, pending drilling.. And loving the tight register

[steve fleming]

Really good find here SF, been researching it a lot this week.. Missed a 14.5/15 entry due to lowball offers + having to pull an order that would have got filled because of an ASB stuff-up (grrr!) but took a position today. Looking forward to the JORC upgrade, pending drilling.. And loving the tight register

Trackers,

Don't know if you came across this brokers report on SMD:

http://www.syndicatedmetals.com.au/reports/SMDMar10.pdf

But it has some really interesting cash flow modelling of a copper mine at Barbara.

Target SP of 40 cents.

[COLIN]

Bought some yesterday, Steve, after dithering for a while. Thanks for your research efforts.

[Huang Chung]

Steve...in market cap, size and grade, SMD kind of reminds me of Horseshoe Metals (HOR), with a couple of projects near Sandfire's operation in WA.

http://www.horseshoemetals.com.au/fileadmin/user_upload/893469.pdf

[trackers]

Trackers,

Don't know if you came across this brokers report on SMD:

http://www.syndicatedmetals.com.au/reports/SMDMar10.pdf

But it has some really interesting cash flow modelling of a copper mine at Barbara.

Target SP of 40 cents.

Hey Steve,

thanks for that, hadn't read that. Still need to have another look, but the research is clear in that there is a viable mine there on SMD's current resource at $2.25/lb.

Copper price is currently over 50% greater than that, and the viability excludes resource upgrades and nearby satellite discoveries... Both of which SMD has made since the report and will be included in a new JORC resource expected this quarter. All good stuff.

Thanks for the mention of HOR, HC, only recently listed but looks alright at first glance. Anyone here hold it, out of interest?

[Huang Chung]

Trackers, I got in on the float, but have since sold the heads. As part of the deal, I've got a few oppies, which I still hold.

[trackers]

SMD up to 0.22c... 50% greater than what I should have gone in at a week ago, but still up about a third. SF I imagine you're holding a swagger of oppies? Nice.

Highlights from yesterdays announcement:



• New zones of high grade copper-gold mineralisation discovered by soil and rock chip sampling at Syndicated’s Bloodwood IOCG prospect within the Mount Remarkable Project;
• Values of up to 25% Cu and 5.54g/t Au returned in first batch of rock chip samples;
• Bloodwood is located only 20 kilometres northeast of Barbara and lies directly along strike from the other known Leichhardt–Prospector IOCG prospects;
• Further rock chip sampling currently in progress;
• Drilling is currently underway at geochemical and geophysical targets

[steve fleming]

SMD up to 0.22c... 50% greater than what I should have gone in at a week ago, but still up about a third. SF I imagine you're holding a swagger of oppies? Nice.


Unfortunately not holding enough SMDO - they were very hard to come by, and, in hindsight, my bids weren't generous enough. Had to load up on the heads instead.

Hopefully KZLs takeover for CSE will help to maintain some nice investor interest in Nth Qld copper juniors.

[steve fleming]

Hopefully KZLs takeover for CSE will help to maintain some nice investor interest in Nth Qld copper juniors.

Interesting to see the IE report yesterday in relation to the CSE/KZL transaction.

Pre KZL bid, CSE was trading at around 7c.

KZL bid 11c.

The IE valued CSE at between 26c and 45c.

That would suggest some major discrepancy between mkt pricing and fundamental valuation of CSE.

I would think that a similar major discrepancy between mkt pricing and valuation would also be the case with SMD.

[sheepy]

Steve thanks for sharing your find, being researching smd this weekend and going to buy in. Have you looked into dml at all being reading a few articles from Dr Alex Cowie. States that George Soros brought 21 million shares in april an 8% stake. Sounds like Botswanas copper resource is huge,

[steve fleming]

Steve thanks for sharing your find, being researching smd this weekend and going to buy in. Have you looked into dml at all being reading a few articles from Dr Alex Cowie. States that George Soros brought 21 million shares in april an 8% stake. Sounds like Botswanas copper resource is huge,

Hi Sheepy. No problem. Re DML, looks like it has a pretty robust project, but a market cap of $400m + is a bit too large for my liking. cheers

[trackers]

http://www.asx.com.au/asxpdf/20101117/pdf/31ty5827pdcddr.pdf

For a market cap of $13mil:

76,000 tonnes of copper
25,000 ounces of gold
430,000 ounces of silver

Only a small percentage of Mt Remarkable project area explored

Green Zone and Blue Star resources to be drilled further to add to the JORC.

Drilling in 2011 at Bloodwood (23.5%CU, 6.1g/tAU rockchips).

And Martin Pyle and co running the show (see EKM).

Market should wake up to this one soon (excluding macro happenings)

[COLIN]

http://www.asx.com.au/asxpdf/20101117/pdf/31ty5827pdcddr.pdf

For a market cap of $13mil:

76,000 tonnes of copper
25,000 ounces of gold
430,000 ounces of silver

Only a small percentage of Mt Remarkable project area explored

Green Zone and Blue Star resources to be drilled further to add to the JORC.

Drilling in 2011 at Bloodwood (23.5%CU, 6.1g/tAU rockchips).

And Martin Pyle and co running the show (see EKM).

Market should wake up to this one soon (excluding macro happenings)

Yes, I'm sure our day will come, Trackers.

[Entrep]

Ann out http://www.asx.com.au/asxpdf/20101118/pdf/31tz23csjgjlx6.pdf

[trackers]

Yes, I'm sure our day will come, Trackers.

LoL I sure hope so... New announcement out, more high grade surface copper/gold found


? New zone of high grade copper-gold mineralisation discovered by rock chip sampling in an area northeast of Syndicated?s recently announced Bloodwood high grade copper-gold discovery;

? Results at Ironbark include values of up to 10.1% copper and 12.2g/t gold;

? Ironbark located 11 kilometres from Bloodwood and only 30 kilometres from Syndicated?s growing Barbara copper-gold project;

? Work continuing to extend the mineralised zones at Ironbark and at Bloodwood;

? Drill testing of Ironbark and Bloodwood scheduled for early 2011.

Check out the new rockchips on page 4, pretty impressive:

http://www.asx.com.au/asxpdf/20101118/pdf/31tz23csjgjlx6.pdf

[geezy]

i m in guys!! :D

[sheepy]

Im in as well, ive had enough with nzx, More potential in resource stocks. SMD is really flying under the radar at the moment.

[trackers]

About time for these guys to pull finger and get the drill bit going at Ironbark and Bloodwood..... Been a pretty quiet couple of months.

Can't believe a couple of months ago I'd thought these guys would out perform ekm/gor, oh dear!!

[geezy]

They have been quiet and just completed their placements for more drilling, anyone knows whats the value of their option expiring in Dec 2011? keen to load up more :)

Thanks!

[yabster]

ex price 20 cents

[STRAT]

About time for these guys to pull finger and get the drill bit going at Ironbark and Bloodwood..... Been a pretty quiet couple of months.

Can't believe a couple of months ago I'd thought these guys would out perform ekm/gor, oh dear!!Lookin a bit weak eh?
There was a nice little bullish divergence just before it run up from 15.5 to 19.0 but looks like it has run out of gas for now.
Clear buy mid September and probably a sell by early November.

Guess itll remain quiet till they dig something up.

[trackers]

Yeah Strat, accompanied (start of Nov onwards) by a total peetering out of any volume - And fair enough too, they need to to a. lots more drilling and b. more promotion of their story.

[trackers]

Quarterly out. Current Market cap @ 0.17c = 15.5mil. Cash = $4.5mil, EV therefore 11mil.

Quarterly says that they expect further JORC resource upgrade at Barbara this year.. and reiterate the potential for an open-pit mine.

Drilling this quarter will be the decider for me, but the following picture gives me much hope that 11mil EV will soon be a joke of the past:

3180

[geezy]

I m still liking their story with lots of drilling coming on stream (Rare Earth and Iron Ore prospects too) but wouldnt discount another institutional placement/capital raising.

[shasta]

I m still liking their story with lots of drilling coming on stream (Rare Earth and Iron Ore prospects too) but wouldnt discount another institutional placement/capital raising.

Just updating my low EV spreadsheet & see SMDs' Market Cap @ $0.16 = $14.7M, - cash of $3.2m leaves an EV of just $11.5m, so the EV hasnt moved much since Trackers post in November

There are some bloody good resource minnows out there ridiculously cheap on an EV basis, some with a JORC resource &/or options!!!

[geezy]

i think his post was in January , shasta not November as you mentioned :)

[shasta]

i think his post was in January , shasta not November as you mentioned :)

You are quite right, got mixed up referring to another post from Trackers in Nov... :(

Either way, SMD has a decent copper resource for such a low EV

[trackers]

You are quite right, got mixed up referring to another post from Trackers in Nov... :(

Either way, SMD has a decent copper resource for such a low EV

Yeah, especially if mgmt can connect the dots between them all... Another case of crappy promotion though (and relying on drillbit to tell the story).

With copper hitting records you have to wonder......

[STRAT]

Just updating my low EV spreadsheet & see SMDs' Market Cap @ $0.16 = $14.7M, - cash of $3.2m leaves an EV of just $11.5m, so the EV hasnt moved much since Trackers post in November

There are some bloody good resource minnows out there ridiculously cheap on an EV basis, some with a JORC resource &/or options!!!HI Shasta. I took a good look at this one but went with GOR at the time. It was a buy then but gave a sell signal soon after. Still got an eye on it. If Id bought and held till now Id be a little better than break even. Waiting for another buy signal.

[shasta]

HI Shasta. I took a good look at this one but went with GOR at the time. It was a buy then but gave a sell signal soon after. Still got an eye on it. If Id bought and held till now Id be a little better than break even. Waiting for another buy signal.

SMD - New presentation out

http://stocknessmonster.com/news-item?S=SMD&E=ASX&N=529779

Ignore the incorrect EV figures on page 4

Mcap @ $0.16 = $14.6m

Cash @ 31/12 = $3.2m

EV = ~$11.4m

All looks promising when you consider the bullish outlook on Copper with a price >$US5/lb predicted

[steve fleming]

Updated Research Report

http://www.proactiveinvestors.com.au/genera/genera/files/researches/proactive_investors__syndicated_metals__research_r eport_4d6c685786392.pdf


"Taking a line through Syndicated’s current copper equivalent resource base equates to an Enterprise Valuation / Resource tonne copper equivalent of a miserly $63.60/resource tonne versus a sector average of over $350/tonne copper.

On this measure, Syndicated is clearly undervalued in a copper sector that has re-rated valuations of nearly all copper explorers and producers.
However, based on our research, we believe Syndicated’s copper equivalent resource base will increase potentially up to 125,000 – 150,000 contained copper equivalent tonnes in 2011. This would turbo charge the undervaluation, underpinning development of Barbara and a higher valuation for the company.

Based on the forgoing, we could see a Syndicated Metals valuation and share price greater than $0.50 within six months and greater than $0.75 within 12 months based on the growing resource and undervaluation. Throw in resolution on Kalman South Project and the undervaluation of Syndicated becomes even greater."

current price = 18c

[trackers]

With JORC update out of the way, cap raising completed, and drilling to recommence, SMD was bound to start moving eventually and hopefully will continue to do so.

The latest presentation reiterates that barbara is economic in its current state, with a possible development scenario of central processing facilities at barbara being fed by the numerous prospective satellite deposits.

[COLIN]

Yes, I'm sure our day will come, Trackers.

Maybe it is here!

STRAT
Even looks better than your favourite, GOR, at the moment!

[trackers]

Looking good Colin, and a month into current drilling programme too... Though volume is low-ish. Strong copper price overnight has probably helped too.

A break of 22c would be a very good thing

[steve fleming]

I swapped my SMD heads for SMDO options earlier in the year, therefore leveraging my exposure to SMD by a factor of 5.

Now that the options are in the money, am looking forward to that strategy paying off!

[STRAT]

Maybe it is here!

STRAT
Even looks better than your favourite, GOR, at the moment!Dunno about that Colin . My 14c GOR shares are lookin pretty damn good today :D

[COLIN]

Dunno about that Colin . My 14c GOR shares are lookin pretty damn good today :D

Have to agree, chum.

Now, reassure me that you are not in league with that bloke who compiled that Diggers and Dozers list of the Three Golden Girls - GOR, AZH & EVG. There's nothing like getting one's hands on a copy before it is released to the great unwashed! Boy, that publication obviously has great influence - they became 3 of the brightest stars in the firmament, today. (Thanks OTL for that link, for a free peak, but I want an advance copy before it comes off the press!)

[STRAT]

Have to agree, chum.

Now, reassure me that you are not in league with that bloke who compiled that Diggers and Dozers list )Not me mate.
Theres no one less connected than I. Thats why I use charts lol.

[STRAT]

Thats why I use charts .Speaking of which. Lookin alright eh? Might even qualify for a heads up on the other thread.

Lookin a bit sluggish today though.

[COLIN]

Its not too late to join the parade, Strat!

[trackers]

Been watching this with bemusement Colin, something's brewing for sure. Nice steady movement on good volume (with drill results ~pending)

[Huang Chung]

Its not too late to join the parade, Strat!

I agree Colin.

Bought in yesterday at 21.5c....better late than never I guess.

My broker had a client mention SMD to him as a possible good story, and when he had a look, he liked what he saw. He then gave me a call about them, and I remembered Steve had started a thread on SMD. To cut a long story short, did a bit of drive-by research and also liked what I saw. Was a shareholder by close of trade.

Thanks Steve for bringing this one to our attention.

[duncanjones]

Looks good to me, have bought in during the last week, low liquidity but once some further good grades are announced this should definitely run. Encourage everyone to have a look into this undervalued copper explorer if you have the chance!


Here is a conservative report:
http://www.syndicatedmetals.com.au/reports/SyndicatedMetals-Intersuisse-2011March30.pdf

[steve fleming]

Intersuisse did a site visit end of May and have updated their Report:

http://www.syndicatedmetals.com.au/reports/SMD_11May25.pdf

Some interesting comments:
- Expect SMD to have 450kt of Cu eq by September
- SMD control almost the same sized land holding in Mt Isa as IVA - which has a market cap of $1.3b
- The Kalman South acq. has increased SMDs value and potential

Also interesting to note CDUs announcement last week regarding their proposed rail infrastructure development at Cloncurry.
"With a number of new copper/lead/zinc/molybdenum/gold/ phosphate mines expected to be commencing production over the next 1 to 3 years, and increased superphosphate and sulphuric acid transport, all within the Cloncurry region of Queensland, transporting of these mineral products are not catered for at present. ....This required forward thinking by CuDeco and the anticipated requirement for this facility was the reason CuDeco entered into an MOU for this 900-hectare rail network centre."

This would be excellent for SMD.

[Huang Chung]

Still holding SMD Steve.

I'm also holding Chinalco Yunnan Copper (CYU), which by my reckoning, holds adjoining tenements to SMD between Mt Isa and Cloncurry. CYU have also had some drilling success, and I'm wondering if there would be some benefits in jointly constructing a central mill for both companies. (CYU have also managed to farm into a couple of Rio's copper tenements in Chile, which could be very exciting).

[Huang Chung]

Presentation released yesterday:

http://www.stocknessmonster.com/news-item?S=SMD&E=ASX&N=544436

[trackers]

BRR interview was good, SMD is pretty stoked about getting control of Kalman and will be interesting to see things progress there.

Kalman resource:

Inferred Mineral Resource containing 30,000 tonnes of molybdenum, 2.3 million ounces of rhenium, 195,000 tonnes of copper and 295,000 ounces of gold, based on 74 drill holes for a total of 33,318 metres.

Looks like there'll be a couple resource upgrades in the next few months also by the sounds of things.

Also looking forward to more results from Bluestar: 4m @ 9% Cu, 1g/t Au and 9m @ 6% Cu and 0.7g/t Au is a pretty good start... And we're waiting on results from Green Zone too, going by the early May ann.

[trackers]

took small profits a couple days ago to buy into KDR - Noticed on Thurs there was 250k dropped on-market, then Friday news released with some fairly poor drilling results buried in.

Still rate these guys prospects going forward, might look at re-entry when Kalman is further down the track

[geezy]

disapointing drilling results, where to from here?

DISC : hold SMD

[Huang Chung]

Yeah, likewise, took a pre 30 June haircut on SMD.

Still holding Chinalco Yunnan Copper (CYU), who are looking in the same area.

[steve fleming]

disapointing drilling results, where to from here?

DISC : hold SMD

Catching up on a few announcements as i have been away and put my shares on ignore; but assume you are referring to the 24 June announcement?

Blue Star and Green zone results look fine. The poor results were testing the zone between Barbara North and South - It was always going to be a real long shot that North and south would actually merger to one super zone– but yeah disappointing nonetheless.

However, as Interssuise say about SMD - “SMD presents a rare opportunity to get in early - at a low price - in what should grow into a major development”

I will definitely be adding to my SMD/ SMDO holdings very shortly now that I am back.

[trackers]

I think SMD is undervalued and has lots of potential, but those results definitely aren't great - The only decent intersections in the 24June announcement were at Blue Star and those were the 11May results restated...

[STRAT]

I will definitely be adding to my SMD/ SMDO holdings very shortly now that I am back.Times gettin a bit short on SMDO. Steve. Thats a vote of confidence on your part.

[steve fleming]

Hi Strat,

I picked up some more SMDO this morning, but yeah, it is very much on the risky side.

There is a fair bit of news flow over the next 6 months, including resource upgrades and mining lease application and mine planning work... this should drive a re-rate....remember the company will be doing all it can to get these options over the line....SMD have got some friendly brokers on board, so hopefully this should not be an issue.... Some mining people i know are very keen on SMD; and all the analysts reports are pretty positive.....The price of copper I think is probably the biggest risk here, together with any pre-December capital raise.

So six months to go.... My target is a 30c+ price by December ($30m market cap) in which case my SMDO’s will have paid off very handsomely for me......I believe at this stage the risk/reward ratio is OK.....but I have also accepted that there is also a pretty good chance I may have to take a 100% write-off of all my SMDOs....which while not ideal, I’ll just have to accept and take the capital loss as a cost of the strategy not going to plan.

[Entrep]

$900K placement announced at 8.5c

[steve fleming]

$900K placement announced at 8.5c

Yeah, I've written off my SMDO, I'll take the tax loss.

A good lesson in that it is definitely a lot more riskier holding options in a declining maket.

However, although in this case the SMD Directors certainly haven't helped.

[Entrep]

A good lesson in that it is definitely a lot more riskier holding options in a declining maket.

Absolutely, my NDLO and CAJO may be about to demonstrate that to me!

[STRAT]

Hi fellas. Anyone still holding these?

Steve and Shasta. May I have your current thoughts?

Chart shows a clear bottom. Just needs a catalyst or a decent kick in the guts to get it moving.

[Entrep]

Looks like it needs to get above 9c tO confirm? Had these guys on my watch list for ages

[STRAT]

Looks like it needs to get above 9c tO confirm? Had these guys on my watch list for ages
Hi Entrep.

Needs more than that. Needs to catch market interest.

[steve fleming]

Hi fellas. Anyone still holding these?

Steve and Shasta. May I have your current thoughts?

Chart shows a clear bottom. Just needs a catalyst or a decent kick in the guts to get it moving.

Hi Strat, sorry I lost interest in SMD after what happened to the options last year!

It should have excellent resource potential, but I am still not happy with what management did - ie do a generous capital raising to their mates at 8c, 2 months before the options were due to expire, which completely killed any hope of getting them in the money.

[Entrep]

I've picked up a few of these over recent weeks. New Ann today and they are just about to commence drilling at their Barabara JV copper-gold project. Should be good news flow into Xmas.

[Entrep]

New report out http://www.syndicatedmetals.com.au/reports/BeerCoResearchReport160114.pdf

Damned if I know what the recent high and low spread trading means

Should be producing this year

[macduffy]

New report out http://www.syndicatedmetals.com.au/reports/BeerCoResearchReport160114.pdf

Damned if I know what the recent high and low spread trading means

Should be producing this year

The spike in the SP appears to coincide with publication of the Beer and Co research report - which I note was commissioned and paid for by SMD.