Horseshoe Metals (HOR) - another Sandfire?

[Huang Chung]

A Sandfire nearology play that has just announced some pretty handy drilling results.

http://stocknessmonster.com/news-item?S=HOR&E=ASX&N=526095

Heads up 193.2% today (sob....I picked up HOR in the float, but sold soon after)

June 2012 Oppies up...wait for it....555.7% today (I've still got my 25,000 free oppies from the float at least).

Fully expecting this one to come off a bit next week, but definitely worth watching.

[soulman]

The same management as PIR HC.

These mining manager are racking it in.

I consider Matthew Wood as one of the best in the biz. He's got AVB, VOR, LRC, HUN. Any others?

[Huang Chung]

The same management as PIR HC.

These mining manager are racking it in.

I consider Matthew Wood as one of the best in the biz. He's got AVB, VOR, LRC, HUN. Any others?

Yep. Quite often, it's not really individual companies, but more like families of companies....and sometimes the families can be related.

Quite Tasmanian really.....

[Entrep]

The same management as PIR HC.

These mining manager are racking it in.

I consider Matthew Wood as one of the best in the biz. He's got AVB, VOR, LRC, HUN. Any others?

Chairman of CRJ I believe

[drillfix]

Yep, yikes indeed. How come nobody called this prior to the Friday' explosion? :P

[Thumpa]

There was no indication on the charts leading up to this news. No volume lift or any real triggers.
Must be running a tight ship, and Directors look the goods.

Been holding HORO for some time , and almost got rid of them last week when a few bids at 6.1 , 6.2 started appearing , but checked December announcements and saw drilling results to come and held off thankfully.
A lot of infrastructure in place along with existing mine. Just needed to drill a little deeper.
Brought in as a SFR nearology punt and will hold to see where this goes , especially with more drilling in March.
Probably be waiting a long time to see another 1 day gain like Friday. May go further on Monday, maybe another gap up?
Could be a fundamental play rather than the usual P&D , but fully expect usual trader shenanigans along the way.

Not many shares on issue, so a lot of pass the parcel taking place. Very strong close.

[whatsup]

So so day up tp .82 in early trade but lookinh like a .70 finish , not too bad on a lack luster day , all eyes on the DOW tonight.

[Huang Chung]

Very nice first pass drill results from Horseshoe's second copper project at Kumarina.

http://investor.horseshoemetals.com.au/IRM/Company/ShowPage.aspx/PDFs/981-72648814/HorseshoeMetal****sHighGradeCopperatKumarina


Market cap down to $14m.

[drillfix]

Those sure are good grades there HC and also a very nice move in the sp also.

A little cautious for taking an entry but missed the boat on open, though certain will watch with interest.

ps: check out those Options as well sitting up on a mild 113% gain. yeow'sa :)

[Huang Chung]

Still a very undemanding market cap, given they already have a JORC resource at Horseshoe Lights, and now some excellent results coming through at Kumarina. The old timers at Kumarina were pulling up copper at over 30 percent in places.

[drillfix]

The old timers at Kumarina were pulling up copper at over 30 percent in places.

Sheebers, all this would need is for the price of copper to head upward to previous highs and this then would be trading at its 52 week high of 82.5c again.

Looking at 52 week H/L Fibonacci trace this could even do a strong close expected at either 40c or 48c potentially.

Also, a yesterday close and today's high FIB it shows 50% = 33c , 61.8% = 34.5c , 76.4% = 37c

ps: but then in these markets where profit taking is king, who knows :P

[drillfix]

Ahh well, wrong I was today with exact targets along with all the jargon today.

So much for Fibonacci and his Rabbits...LOL

[soulman]

I had nightmares in HOR previously and also selling out at massive losses.

The way the action is today (at 24 mil shares traded), it was downward movement in the last 4 hrs.

BTW HC, what is HOR JORC in copper? Thanks.

[Huang Chung]

I had nightmares in HOR previously and also selling out at massive losses.

The way the action is today (at 24 mil shares traded), it was downward movement in the last 4 hrs.

BTW HC, what is HOR JORC in copper? Thanks.


8.4mt @1.1%Cu and .14g/t Au, giving 91,400 tonnes of copper and 36,400 oz gold.

http://stocknessmonster.com/news-item?S=HOR&E=ASX&N=561454

Looks like they will be endeavouring to increase that resource next year.

http://stocknessmonster.com/news-item?S=HOR&E=ASX&N=560888

Kumarina (today's announcement) is a seperate project, but not too far to the north west.

[soulman]

Thanks HC. Luckily I stayed out of action yesterday, seeing the dip and selling pressure before the closed. It has continued today.

You hold these HC? I recently have bad experience with another similar small time copper explorer in KDR.

[Huang Chung]

Yep, I'm holding. A very interesting week for HOR....nearly back to where we started. Frankly, I'm shocked by the extent of the pullback.

[Huang Chung]

Once again, we have a falling share price following another lovely set of drill results. Looks like the traders have exited as there is no expected news flow on the immediate future. If you're counter cyclical, it's probably not too far off a good time to enter, before the interest builds in the run up to the next drilling program. Be aware that there will have to be some sort of capital raising in the not too distant future.

The two lots of drill results so far for HOR's Kumarina Project are:

7 December 2011
http://stocknessmonster.com/news-item?S=HOR&E=ASX&N=570516

25 January 2012
http://stocknessmonster.com/news-item?S=HOR&E=ASX&N=575071

Must remember that Kumarina is their secondard project. Horseshoe Lights is their main project, with a JORC copper resource already over 90,000 tonnes.

Market Cap is just $15m, which hardly seems to do justice in terms of their results and prospects.

[bermuda]

Once again, we have a falling share price following another lovely set of drill results. Looks like the traders have exited as there is no expected news flow on the immediate future. If you're counter cyclical, it's probably not too far off a good time to enter, before the interest builds in the run up to the next drilling program. Be aware that there will have to be some sort of capital raising in the not too distant future.

The two lots of drill results so far for HOR's Kumarina Project are:

7 December 2011
http://stocknessmonster.com/news-item?S=HOR&E=ASX&N=570516

25 January 2012
http://stocknessmonster.com/news-item?S=HOR&E=ASX&N=575071

Must remember that Kumarina is their secondard project. Horseshoe Lights is their main project, with a JORC copper resource already over 90,000 tonnes.

Market Cap is just $15m, which hardly seems to do justice in terms of their results and prospects.

HC,
Thanks for the warning. Not that I buy mining co's. Might be worth a look after the CR.

[Huang Chung]

Hi Super B

Yeah, I was surprised to see you post here, being an O&G guy. I occasionally see what you guys are saying on stocks like BRU and NSE, but rarely go into O&G stocks myself. I should have held onto those Maverick shares though :(.

[drillfix]

I should have held onto those Maverick shares though :(.

Doh MAD, don't remind me HC, so should have many, me included...lol

[bermuda]

Hi Super B

Yeah, I was surprised to see you post here, being an O&G guy. I occasionally see what you guys are saying on stocks like BRU and NSE, but rarely go into O&G stocks myself. I should have held onto those Maverick shares though :(.

HOR could be interesting but I know little of metal and gold stocks. Just don't understand gold but for some reasons gold stocks have lagged a way behind. It is as if the market does'nt believe the price of gold has risen dramactically. HOR could benefit from this and they seem to have a bit of copper too. I see they are only 75km from Sandfire and I have met a few people who got seriously rich out of that one. I will keep a watch out for these mining stocks. And HOR in particular. Why didn't they find all these juicy adjacent areas years before?

[bermuda]

Doh MAD, don't remind me HC, so should have many, me included...lol

Drilly,
A bit off topic but the reason I don't trade is for tax reasons plus it is too hard work. Far better to read the story and then press a long term button. I pressed the MAD button a year ago and topped up about a month ago to a nice even number. Sooner or later a good story will get recognised. I am in this MAD for the long haul. Still way undervalued longterm.

HC,
I have been reading a bit more about HOR. How come this gold potential wasn't recognised before? Sounds too good to be true. A price dip today after that news?

[Huang Chung]

HOR could be interesting but I know little of metal and gold stocks. Just don't understand gold but for some reasons gold stocks have lagged a way behind. It is as if the market does'nt believe the price of gold has risen dramactically. HOR could benefit from this and they seem to have a bit of copper too. I see they are only 75km from Sandfire and I have met a few people who got seriously rich out of that one. I will keep a watch out for these mining stocks. And HOR in particular. Why didn't they find all these juicy adjacent areas years before?

Super B

Horseshoe is far more a copper play than a gold play. Both Horseshoe Lights and Kumarina are historic copper / gold mining areas. The Horseshoe Lights mine was a respectable open pit operation. Kumarina had minor historic underground workings, that provided some very good grade ore, but the exploration was very small scale, and done without the aid of modern exploration techniques. If you have enough of an interest, pull up the Horseshoe Prospectus where the history of the tenements are detailed (you'll find it on stocknessmonster, as well as other places no doubt)

Another one in the same area that I've got a small interest in is Ventnor (VRX). They put out some terrific assays in the last week, but the market just yawned.http://stocknessmonster.com/news-item?S=VRX&E=ASX&N=574900

[soulman]

A nice movement today as a result of a successful cornerstone investor. Investec has massive success with their investment in NST and TEX as per HOR latest presentation. Investec might have invested in NST for 3 to 5 cents and at $1 today, that's a lot of bagger. Just read a Jul 2010 presentation of NST when NST were 5 to 6 cents and just acquired the very successful Paulsen gold mine (could be one of the best asset after FMG iron ore mines), Investec controls 40% of NST shares. Rags to riches kind of stuff and would have made a lot of Investec founders very, very wealthy. What dreams are made of.

Bought a few on Monday (after Fri volume spike) at the day's low price of 26.5 and some more today at 31.5.