LOW EV: Resource exploration company List

[shasta]

For a while now i've been compiling a LOW EV list of some of the resources companies out there, that potentially offer great leverage (thru relatively tight capital structures) as there projects develop from drilling & achieving JORC resources.

I've avoided pure Gold, Uranium & Coal exploration companies & gone for those with exposure to a few metals

Once a company runs past the $20m MCap/EV level they go off the list, im not interested in those who have already run, im tryng to find those who haven't yet, so the list is always being added to/deleted from daily.

In order from lowest EV to highest: (* indicates thread already started), SP's as at market close 22/2/2011

1. SPQ - Superior Resources*

MCap @ $0.078 = $6.0m
Cash @ 31/12 = $2.4m
Listed Investments: $2.4m (ASX: DYL)
EV = $1.2m
Exposure to: Cu,Pb,Zn,Ag,U308,Phos
JORC Resource: No
Listed Options: No

2. LCR - Laconia Resources

MCap @ $0.087 = $5.1m
Cash @ 31/12 = $3.1m
Listed Investments: Nil
EV = $2.0m
Exposure to : Au, Ag, Fe, REE, U308, Base
JORC Resource: No
Listed Options: No

3. GMM - General Mining*

MCap @ $0.14 = $5.7m
Cash @ 31/12 = $2.7m
Listed Investments: Nil
EV = $3.0m
Exposure to: Li, Potash, Mn, Fe
JORC Resource: No
Listed Options: No

4. MOX - Monax Resources*

MCap @ $0.08 = $11.8m
Cash @ 31/12 = $4.6m
Listed Investments: $4.1m (ASX:MEU)
EV = $3.1m
Exposure to: Au, Cu, Fe, Mn, Bax, Base, U308
JORC Resource: No
Listed Options: Yes (Strike price 0.15, expires 30/11/11)

5. GES - Genesis Resources*

MCap @ $0.14 = $7.4m
Cash @ 31/12 = $1.6m
Listed Investments: $0.7m (ASX:WDR)
EV = $5.1m
Exposure to: Ag, Au, Cu, Mn, Fe
JORC Resource: Yes
Listed Options: No

6. FRY - Fitzroy Resources

MCap @ $0.245 = $10.0m
Cash @ 31/12 = $4.9m
Listed Investments: Nil
EV = $5.1m
Exposure to: Cu, Zn, Ag
JORC Resource: Yes
Listed Options: No

7. WCN - White Cliff Nickel

MCap @ $0.16 = $8.7m
Cash @ 31/12 = $1.6m
Listed Investments: Nil
EV = $7.1m
Exposure to: Ni, Cu, Au, Fe, Mn
JORC Resource: No
Listed Options: Yes (Strike price $0.25, expires 30/6/11)

8. AIV - Activex

MCap @ $0.075 = $7.8m
Cash @ 31/12 = $0.6m (NB, expected capital raising soon)
Listed Investments: Nil
EV = $7.2m
Exposure to: Cu, Ag, Co, Potash
JORC Resource: No
Listed Options: No

9. CZN - Corazon Mining*

MCap @ $0.11 = $8.6m
Cash @ 31/12 = $0.8m (NB, SPP already announced)
Listed Investments: Nil
EV = $7.8m
Exposure to: Ni, Cu, Co
JORC Resource: Yes
Listed Options: Yes (Strike price $0.20, expires 30/4/13)

10. MGY - Malagasy Minerals

MCap @ $0.067 = $10.5m
Cash @ 31/12 = $2.5m
Listed Investments: Nil
EV = $8.0m
Exposure to: Ni, Cu, Au, Ag,Va
JORC Resource: No
Listed Options: No

11. CLU - Cloncurry Metals

MCap @ $0.084 = $9.0m
Cash @ 31/12 = $0.7m (currently in TH re capital raising)
Listed Investments: Nil
EV = $8.4m
Exposure to: Au, Ag, Cu, Zn Mo
JORC Resource: No
Listed Options: No

Nb, Some crazy grades of 4.3m @ 3,830 g/t (silver) has got me excited about them! ;)

12. AXE - Archer Exploration

MCap @ $0.22 = $14.2m (entered the low ev list @ 15c)
Cash @ 31/12 = $3.2m
Listed Investments: Nil
EV = $11.0m
Exposure to: Cu, Ag, Mn, Fe, REE, U308
JORC Resource: No
Listed Options: No

Others on the list include RXL (now slightly over my $15m EV limit)

ARV - see thread & posts from JBMurc
SMD - see thread & posts from Steve Fleming
CXO - see thread & posts form Huang Chung

Disc: Nil held in any of these, as i'm out of the market at present :(

[drillfix]

For a while now i've been compiling a LOW EV list of some of the resources companies out there, that potentially offer great leverage (thru relatively tight capital structures) as there projects develop from drilling & achieving JORC resources.

I've avoided pure Gold, Uranium & Coal exploration companies & gone for those with exposure to a few metals



Others on the list include ROX (may now be SXM, not sure why stockness/trading room wont show it?).

ARV - see thread & posts from JBMurc
SMD - see thread & posts from Steve Fleming

Disc: Nil held in any of these, as i'm out of the market at present :(


Shasta, Excellent work as always mate, Thanks again for your efforts.

Re- being out of the market at present, well all I can say is, this is proving to be a wise move until either a bounce is confirmed or the support lines are holding up. A few days to a next week will give us the answer.

[shasta]

Shasta, Excellent work as always mate, Thanks again for your efforts.

Re- being out of the market at present, well all I can say is, this is proving to be a wise move until either a bounce is confirmed or the support lines are holding up. A few days to a next week will give us the answer.

Cheers Drilly

I still spend the same amount of time each day on researching the markets as i always have, & im just looking for opportunities for when i'm back in to it (wont be long now).

I follow a wide range & a good numbers of stocks, so i'll just follow the trends & try to profit off them.

Most metals are doing pretty well with producers enjoying healthy margins, but there are still undervalued companies out there

[percy]

shasta,
Thank you for your research.With the quake my concentration has gone,but when I can engage brain again I look forward to reading up on them.I did buy after you posted SPQ,GES,GMM,MOX and CZNO.Thanks for your update onAYN on another thread.I have not read the DGR announcement yet.Bit of a long day,after waiting for about an hour to get petrol,digging a loo hole,organising some water.Luckily have power.Cannot complain as I feel guilty as so many are so badly affected.

[Huang Chung]

I'd add CXO to that list of yours Shas. EV around $4m, with exposure to Cu and U.

[shasta]

I'd add CXO to that list of yours Shas. EV around $4m, with exposure to Cu and U.

I have it on my list, but wasnt going to steal your thunder HC ;)

I should have acknowledged it along with the others

[shasta]

If its not done so already i'll post the DGR presentation out today, page 6 spells it out

Its in the no brainer category & DGR will ensure i stay up near the top of the ASX comp

Hope all is well with you & your family Percy, its unreal watching it all play out on TV,

[JBmurc]

yes a great work shasta as usual had alook into GES does have a good size silver resource but sadly very low grade

will look into- DGR , MOX I will be looking at buying more HLX , ARV and maybe even CLU I really like their mexico silver asset

Can't believe all you guys have been out of the market I'm more worried about a MAJOR correction later this year that at present times
missed out on some great profits

[buns]

JBmurc;337990 Can't believe all you guys have been out of the market I'm more worried about a MAJOR correction later this year that at present times
missed out on some great profits

That’s purely your own personal opinion. Markets are not efficient; you have no way in knowing when a correction will/could happen. Also people are not always in/out of the market for money making reasons.

This isn’t even worth commenting on.

[JBmurc]

CLU- back trading Placement raised 1.44mill @6c
The proceeds of the placement will be used to fund ongoing exploration at the El Rodeo Project in Mexico, and to commence exploration activity at the three new gold projects being acquired in Turkey, and for general working capital.

Buns- I was talking to Drillfix and shasta two very smart investors that have been picking some great trades of late sorry if you took offence

[buns]

No worries mate. Hey keep the CLU info coming.. Looking to research this one - I've got it on this weekends to do list.

The infomation you and the likes of Shasta provide is very appreicated

[JBmurc]

No worries mate. Hey keep the CLU info coming.. Looking to research this one - I've got it on this weekends to do list.

The infomation you and the likes of Shasta provide is very appreicated

Yes thanks to shasta for bringing it to attention, I have a bid on CLU really like the Mexico project should here annoucements early in march on some drilling results hopefully if a seller is kind enough to meet my low ball bid and the results are even half as good as some of the olders results CLU should get market attention

[Corporate]

Great list Shasta! What's your favourites?

[shasta]

Great list Shasta! What's your favourites?

Thats like asking a mother to pick which kid is her favourite!

Ok, in no particular order

CZN - Has a JORC Nickel resource, long dated options & are drilling to expand the JORC resource by at least double

MOX - Its probably my favourite, Copper & Gold/Iron Ore & Manganese play, & have very large well funded JV partners - totally off the radar

CLU - The insane silver grades in Mexico have got me excited about this (im still very bullish on silver, as if people didnt already know!)

This list is not just any low EV company, i have filtered thru what i consider the better ones, i gave the "exposure to" category, so people could follow whatever metal they prefer.

SPQ is very much greenfield exploration but has plenty of projects across different metals, so an EV just over a $1m for all that, when there are gold exploration companies toting grades around 1 - 2 g/t on much higher market caps, you gotta think its worth a bit more!

GES - has sovereign risk & is another "option to purchase 62% of" but with a large JORC resource if it goes ahead will be a multibagger many time over from these levels

[shasta]

AIV has announced some high HREO/TREO grades on there copper/gold project

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=229674

Also gives reference to ASX:CYU who have discovered REE's on there permit in the surrounding area

[yabster]

fyi if your watching Cloncurry metals it's now called Global Resources Corp (GRM) -

[shasta]

fyi if your watching Cloncurry metals it's now called Global Resources Corp (GRM) -

Quick weekly update of the Low EV list, @ todays closing share price & updated EV's

SPQ @ $0.078, EV = $1.2m
LCR @ $0.083, EV = $1.8m
MOX @ $0.078, EV = $3.2m
GES @ $0.11, EV= $3.6m
CXO @ $0.21, EV = $3.7m (Thanx Huang Chung)
FRY @ $0.225, EV = $4.3m
RSL @ $0.10, EV = $4.5m (New entrant this week, U308 & REE play, linked in with ASX:GBE)
GRM @ $0.062, EV = $6.2m (NB, Name change, formerly ASX:CLU)
MGY @ $0.058, EV = $6.6m
WCN @ $0.16, EV = $7.1m
PEX @ $0.11, EV = $7.4m (New entrant this week, resources cover Au, Ag, Wo, Zn, Pb, Cu, Mo - refer thread)
YRR @ $0.034, EV = $7.4m (Thanx Trackers)
GMM @ $0.255, EV = $7.7m (even after todays 50% rise still a low EV, even though GMM was just 14c on Wednesday!)
AIV @ $0.08, EV = $7.8m (Nb, They will need to raise cash soon, only had $0.6m @ 31/12)
CZN $0.115, EV = $8.4m
AXE @ $0.19, EV = $9.0m
ARV @ $0.052, EV = $12.2m (Thanx JBMurc)
SMD @ $0.17, $12.4m (Thanx Steve Fleming)

Come off the list this week:
RXL

[shasta]

MGY - MALAGASY IDENTIFIES SIX PRIORITY EXPLORATION ZONES AT FOTADREVO VANADIUM PROJECT – MADAGASCAR

For the Vanadium fans out there

http://stocknessmonster.com/news-item?S=MGY&E=ASX&N=532375

Reference is made to there Canadian neighbour with there large JORC V2o5 project (TSX:EGZ)

[shasta]

AXE - Presentation

http://stocknessmonster.com/news-item?S=AXE&E=ASX&N=182189

Magnanese & Graphite are there main projects, but they cover a few metals, & like MOX, AXE is also a bed fellow of OMH (large Manganese producer)

[shasta]

After the ASX breather this week, here's how the Low EV list stacks up: (* indicates a JORC resource)

SPQ @ $0.078, EV = $1.7m
LCR @ $0.083, EV = $1.8m
MOX @ $0.074, EV = $2.9m
FRY @ $0.20, EV = $3.3m*
GES @ $0.12, EV = $4.1m*
RSL @ $0.095, EV = $4.2m*
PEX @ $0.081, EV = $4.8m*
AIV @ $0.064, EV = $6.1m
GMM @ $0.215, EV= $6.1m
GRM @ $0.063, EV = $6.2m
YRR @ $0.03, EV = $6.2m*
MGY @ $0.06, EV $6.9m
WCN @ $0.16, EV = $7.1m
CZN @ $0.105, EV $7.5m*
PDZ @ $0.185, EV $8.3m*
ARV @ $0.049, EV $11.2m
AXE @ $0.225, EV $11.3m
HLX @ $0.105, EV $11.5m*
RXL @ $0.052, EV $13.0m*
SMD @ $0.18, EV $13.3m*

No new entrants onto the list or departures, just a few returning to the list!

[shasta]

AIV - Florence drilling program planned for Exploration Targets

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=230207

Proposed drilling plan

[shasta]

RXL - ROX TO PROCEED WITH MT FISHER GOLD-NICKEL PROJECT ACQUISITION

http://stocknessmonster.com/news-item?S=RXL&E=ASX&N=533691

Highlights of project:

- Numerous high grade gold drill intercepts up to 187 g/t gold

- Significant gold-in-regolith anomalies over several kilometres in length.

- Five kilometre section of an ultramafic belt highly prospective for nickel sulphide

Project looks quite encouraging, for more on the project refer ASX:AQG who sold it to RXL

[shasta]

LCR - Presentation

http://stocknessmonster.com/news-item?S=LCR&E=ASX&N=533708

Currently on the low EV @ just $3m & with a small but JORC resource!

Lennons Find Project contains a JORC Code Inferred Resource of 853,000 tonnes grading g g 7.7%Zn, 1.8%Pb, 0.7%Cu, and 115g/t Ag.

[Huang Chung]

Shasta, going from your recent post of CXO's EV at 21c, the EV must be down around $2m now.

Not bad, when you consider the location of of their Yorke Penninsular project near RXM.

http://www.coreexploration.com.au/

[corporateraider]

Shasta
I think RAD deserves a place on your list

[shasta]

Shasta
I think RAD deserves a place on your list

Cheers, i'm always looking for new companies to add to the list, though im struggling to find new entrants at present, if they are out there i will find them!

RAD is too big for my criteria, only those with a MCap < $20m/EV < $15m qualifies

I also tend not to add new listings to the list, nor pure gold, uranium, coal, or iron ore companies, (if i was interested in coal/iron ore/manganese i'd buy AQA)

So each of those on the list cover a few metals to try & minimise the risks

[JBmurc]

After the ASX breather this week, here's how the Low EV list stacks up: (* indicates a JORC resource)

SPQ @ $0.078, EV = $1.7m
LCR @ $0.083, EV = $1.8m
MOX @ $0.074, EV = $2.9m
FRY @ $0.20, EV = $3.3m*
GES @ $0.12, EV = $4.1m*
RSL @ $0.095, EV = $4.2m*
PEX @ $0.081, EV = $4.8m*
AIV @ $0.064, EV = $6.1m
GMM @ $0.215, EV= $6.1m
GRM @ $0.063, EV = $6.2m
YRR @ $0.03, EV = $6.2m*
MGY @ $0.06, EV $6.9m
WCN @ $0.16, EV = $7.1m
CZN @ $0.105, EV $7.5m*
PDZ @ $0.185, EV $8.3m*
ARV @ $0.049, EV $11.2m
AXE @ $0.225, EV $11.3m
HLX @ $0.105, EV $11.5m*
RXL @ $0.052, EV $13.0m*
SMD @ $0.18, EV $13.3m*

No new entrants onto the list or departures, just a few returning to the list!

Now have interest in four of the above ARV,GRM,MOX,HLX trying to buy more MOX HLX atm ,all very undervalued and getting more so in the volatile micro market

ARV-- bumping along on new low while REO break new highs &strong Gold silver prices
HLX-10c recent analyst report valued over $1 on Iron Ore alone --Iron ore gold etc price all at highs
MOX-low E.V great list of assets
GRM-selling under placement could well be sitting on monster Silver resource

[shasta]

Given the sell off & then subsequence bounce this week the LOW EV List is pretty much static, with a few new entrants ;)

6 more companies are currently being researched & filtered, i will add these in due course should they make the list!

SPQ @ $0.078, EV = $2.0m
MOX @ $0.07, EV = $2.8m
RSL @ $0.078, EV = $3.3m#
CXO @ $0.20, EV = $3.3m
FRY @ $0.20, EV = $3.3m#
LCR @ $0.08, EV = $3.5m#
GES @ $0.12, EV = $4.1m#
PEX @ $0.079, EV = $4.6m#
MEU @ $0.082, EV = $4.6m (New entrant, spun out of MOX, covers U308, Au, Fe, Base Metals)
AIV @ $0.056, EV = $5.3m
GMM @ $0.195, EV = $5.3m
MGY @ $0.052, EV = $5.6m
PDZ @ $0.155, EV = $5.9m#
WCN @ $0.14, EV = $6.0m
GRM @ $0.062, EV = $6.2m
YRR @ $0.031, EV = $6.5m#
CZN @ $0.11, EV = $7.9m#
RCO @ $0.42, EV = $8.5m (New entrant, Owns royalties, & receives Gold* ex OGC, due to pay a 2c dividend twice a year)
AXE @ $0.215, EV = $10.7m
ARV @ $0.049, EV = $11.2m
BAR @ $0.04, EV = $11.3m# (New entrant, covers Au, Ni, Co, Mn, with modest JORC resource)
SMD @ $0.165, EV = $11.9m#
RXL @ $0.049, EV = $12.0m#
HLX @ $0.11, EV = $12.3m#

*As part of the royalty agreement with OGC, RCO receives 1062.50/oz Gold per quarter after w/tax, i have valued it @ $A1400/oz)

# Indicates a JORC resource

I have updated the valuations on all listed investments so the above figures are as of tonights closing share prices

[elZorro]

Hi Shasta, this is a good idea for a thread. OGC went from 1 bill down to 50mill and back again, so even slightly larger EVs can be spectacular. We only need one of these deals in a lifetime.

I spotted Royalco on your list (RCO). I was surprised to find out the other day, that they get a substantial royalty from OGC's Reefton mine. Maybe not such a coincidence that their office address in Melbourne is on the same street as Oceanagold's. RCO are also paying dividends, and have a policy of paying out 60% of net profits. The catch is that Reefton is their main income earner at the moment, out of 11 royalty claims. And the Reefton royalty income will stop in December 2012 (I didn't think OGC were that crazy).

OGC is keen on seeing Didipio through, and have eyes on nearby resources. Maybe they expect RCO to help with finding them. From RCO's site:


PAO YABBE PROJECT


The Pao Yabbe project area is situated in the Southern Sierra Madre Ranges of Northern Luzon and adjoins the Didipio copper gold project of Oceana Gold Limited (reserves of 23.7MT @ 0.65% Cu and 1.8g/t Au).

The regional geology of the area is dominated by a sequence of early Tertiary age volcanics of alkaline composition. This sequence was intruded by suites of intrusives of both calc-alkaline and alkaline compositions in the mid-Tertiary. Base and precious metal mineralisation is associated with these intrusives. Modern mineral exploration commenced in the area in the 1980s and exploration by Oxiana commenced in 1998. Geochemical, geological and geophysical exploration programs have resulted in the delineation of three main prospect areas in the north of the project area, Ambedbed, Manidyo and Digyan, and one in the south, Yabbe.

There is good exploration potential for high-sulphidation style Cu-Au mineralization and deeper porphyry Cu-Au mineralisation within the Pao-Yabbe tenement areas.
A chip sample from the Manidyo vein assayed 49.42g/t Au, 348g/t Ag, 3.94% Cu , 1.7% As.



Not a bad chip sample, but that might be normal on outcrops. Any geologists with some advice?

[JBmurc]

Not a bad chip sample, but that might be normal on outcrops. Any geologists with some advice?

I'm no Geo but thats one nice chip sample high grades in 3 metals (don't know what As is) now if if they could drill an get even half of those grades at a decent width they'll be looking at one high grade resource structure then depending on strike length an size of area drill a very profitable resource

[Huang Chung]

JB...As is arsenic, which I imagine could attract a penalty from the smelters.

Probably a good one to discuss with the company.

[shasta]

Hi Shasta, this is a good idea for a thread. OGC went from 1 bill down to 50mill and back again, so even slightly larger EVs can be spectacular. We only need one of these deals in a lifetime.

I spotted Royalco on your list (RCO). I was surprised to find out the other day, that they get a substantial royalty from OGC's Reefton mine. Maybe not such a coincidence that their office address in Melbourne is on the same street as Oceanagold's. RCO are also paying dividends, and have a policy of paying out 60% of net profits. The catch is that Reefton is their main income earner at the moment, out of 11 royalty claims. And the Reefton royalty income will stop in December 2012 (I didn't think OGC were that crazy).

OGC is keen on seeing Didipio through, and have eyes on nearby resources. Maybe they expect RCO to help with finding them. From RCO's site:



Not a bad chip sample, but that might be normal on outcrops. Any geologists with some advice?

RCO have more royalty income streams on the horizon & have $12m cash, the 6 monthly 2c fully franked dividends cost ~$1m each, so theres plenty of wiggle room to pay out a higher divvie, not bad when you consider @ 40c RCO is a 10% yield (or ~9.5% at closing sp 42c)

Until OZL sold there 19% stake recently, approx 70% of the 57m shares on issue were with 3 large shareholders, now the top 2 own 50%

OZL also pay royalties to RCO, so they have some exposure to decent producing companies!

[steve fleming]

Given the sell off & then subsequence bounce this week the LOW EV List is pretty much static, with a few new entrants ;)

6 more companies are currently being researched & filtered, i will add these in due course should they make the list!

SPQ @ $0.078, EV = $2.0m
MOX @ $0.07, EV = $2.8m
RSL @ $0.078, EV = $3.3m#
CXO @ $0.20, EV = $3.3m
FRY @ $0.20, EV = $3.3m#
LCR @ $0.08, EV = $3.5m#
GES @ $0.12, EV = $4.1m#
PEX @ $0.079, EV = $4.6m#
MEU @ $0.082, EV = $4.6m (New entrant, spun out of MOX, covers U308, Au, Fe, Base Metals)
AIV @ $0.056, EV = $5.3m
GMM @ $0.195, EV = $5.3m
MGY @ $0.052, EV = $5.6m
PDZ @ $0.155, EV = $5.9m#
WCN @ $0.14, EV = $6.0m
GRM @ $0.062, EV = $6.2m
YRR @ $0.031, EV = $6.5m#
CZN @ $0.11, EV = $7.9m#
RCO @ $0.42, EV = $8.5m (New entrant, Owns royalties, & receives Gold* ex OGC, due to pay a 2c dividend twice a year)
AXE @ $0.215, EV = $10.7m
ARV @ $0.049, EV = $11.2m
BAR @ $0.04, EV = $11.3m# (New entrant, covers Au, Ni, Co, Mn, with modest JORC resource)
SMD @ $0.165, EV = $11.9m#
RXL @ $0.049, EV = $12.0m#
HLX @ $0.11, EV = $12.3m#

*As part of the royalty agreement with OGC, RCO receives 1062.50/oz Gold per quarter after w/tax, i have valued it @ $A1400/oz)

# Indicates a JORC resource

I have updated the valuations on all listed investments so the above figures are as of tonights closing share prices

This is really excellent thanks Shasta....some pretty valuable IP!

If you are able to / or want to add some more research, it would be interesting for those companies with JORC's, to calculate what the current in ground value of their JORC's based on current metal prices, to get an idea of the potential of the resource....I am thinking HLX may have the most valuable resource of those listed???

[denpal]

IRC has a massive vanadium resource in the NT at Julia Creek, and also has moly.

MC a paltry $15M or so (114,805787 FPO's post cap-raising @ 13c).

V2O5 = 5.308Bt @ 0.4% = 21.232Mt @ say $7/lb = IGV $327.7B
Moly = 5.308Bt @ 312g/t = 1.656Mt @ say $12/lb = IGV $43.8B

Total IGV = $371.5B and there is heaps more of this at-surface soft oxide mineralisation. Surely this is a record low EV/IGV at 0.003%?

Oh, they also have lots of gold at least 300,000 oz and will be campaign mining a supergene deposit of around 30,000 oz this year. They already have the gear.

Vanadium is a strategic mineral as it has new uses in the vanadium storage batteries that can give near instant charge/discharge and very suitable for solar and wind generation. This will be sped up with the fallout from nuclear in the news now.

This stock requires much patience. It's the sort of stock that you buy and put away for a few years in the bottom drawer.

Worth a read. I don't hold yet but it's on my sleeper watchlist. New shares (22M @ 12c) to hit the bourse later this month.

[shasta]

This is really excellent thanks Shasta....some pretty valuable IP!

If you are able to / or want to add some more research, it would be interesting for those companies with JORC's, to calculate what the current in ground value of their JORC's based on current metal prices, to get an idea of the potential of the resource....I am thinking HLX may have the most valuable resource of those listed???

i have started a few threads for JORC companies, FRY, CZN, GES off the top of my head, will get around to starting new threads for the others & yes whilst its valuable IP, im happy to share my research on Sharetrader (hope it doesnt end up on other sites though)

[shasta]

IRC has a massive vanadium resource in the NT at Julia Creek, and also has moly.

MC a paltry $15M or so (114,805787 FPO's post cap-raising @ 13c).

V2O5 = 5.308Bt @ 0.4% = 21.232Mt @ say $7/lb = IGV $327.7B
Moly = 5.308Bt @ 312g/t = 1.656Mt @ say $12/lb = IGV $43.8B

Total IGV = $371.5B and there is heaps more of this at-surface soft oxide mineralisation. Surely this is a record low EV/IGV at 0.003%?

Oh, they also have lots of gold at least 300,000 oz and will be campaign mining a supergene deposit of around 30,000 oz this year. They already have the gear.

Vanadium is a strategic mineral as it has new uses in the vanadium storage batteries that can give near instant charge/discharge and very suitable for solar and wind generation. This will be sped up with the fallout from nuclear in the news now.

This stock requires much patience. It's the sort of stock that you buy and put away for a few years in the bottom drawer.

Worth a read. I don't hold yet but it's on my sleeper watchlist. New shares (22M @ 12c) to hit the bourse later this month.

Denpal

Im not sure you have converted the g/t correctly, sounds too good to be true, i did have IRC on the list but it dropped off, will do some digging on this

If youre right though, you have found the most undervalued stock of all time on the ASX!

[steve fleming]

i have started a few threads for JORC companies, FRY, CZN, GES off the top of my head, will get around to starting new threads for the others & yes whilst its valuable IP, im happy to share my research on Sharetrader (hope it doesnt end up on other sites though)

Shasta, i was thinking just in your list, next to the EV, it would be pretty cool to have the latest IGV calc?

[shasta]

Shasta, i was thinking just in your list, next to the EV, it would be pretty cool to have the latest IGV calc?

I shall do that this weekend while im following the football, & ill add a EV/IGV value & %

[corporateraider]

BAR @ $0.04, EV = $11.3m# (New entrant, covers Au, Ni, Co, Mn, with modest JORC resource)

Shasta
I am not that sure that you would describe what is presumably the worlds fifth largest resource of Co as a modest resource. Having said that I can't find anything good to say about the company -they have failed with everything that they have done in the last two years.

[shasta]

BAR @ $0.04, EV = $11.3m# (New entrant, covers Au, Ni, Co, Mn, with modest JORC resource)

Shasta
I am not that sure that you would describe what is presumably the worlds fifth largest resource of Co as a modest resource. Having said that I can't find anything good to say about the company -they have failed with everything that they have done in the last two years.

My bad :(

I see i had that note on a stock that didnt make the list, not BAR - sorry for any confusion folks, will skim the list against my notes in case

Thanks for bringing this to my attention

[shasta]

Given the sell off & then subsequence bounce this week the LOW EV List is pretty much static, with a few new entrants ;)

6 more companies are currently being researched & filtered, i will add these in due course should they make the list!

SPQ @ $0.078, EV = $2.0m
MOX @ $0.07, EV = $2.8m
RSL @ $0.078, EV = $3.3m#
CXO @ $0.20, EV = $3.3m
FRY @ $0.20, EV = $3.3m# IGV $A771m (Cu, Zn, Ag, Au)
LCR @ $0.08, EV = $3.5m#
GES @ $0.12, EV = $4.1m# IGV $A2.16b (Cu, Au, Ag)
PEX @ $0.079, EV = $4.6m# IGV $A486m (Au)
MEU @ $0.082, EV = $4.6m (New entrant, spun out of MOX, covers U308, Au, Fe, Base Metals)
AIV @ $0.056, EV = $5.3m
GMM @ $0.195, EV = $5.3m
MGY @ $0.052, EV = $5.6m
PDZ @ $0.155, EV = $5.9m#
WCN @ $0.14, EV = $6.0m
GRM @ $0.062, EV = $6.2m
YRR @ $0.031, EV = $6.5m#
CZN @ $0.11, EV = $7.9m# IGV $A467m (Cu, Co, Ni)
RCO @ $0.42, EV = $8.5m (New entrant, Owns royalties, & receives Gold* ex OGC, due to pay a 2c dividend twice a year)
AXE @ $0.215, EV = $10.7m
ARV @ $0.049, EV = $11.2m
BAR @ $0.04, EV = $11.3m# (New entrant, covers Au, Ni, Co, Mn, with JORC resource)
SMD @ $0.165, EV = $11.9m#
RXL @ $0.049, EV = $12.0m#
HLX @ $0.11, EV = $12.3m#

*As part of the royalty agreement with OGC, RCO receives 1062.50/oz Gold per quarter after w/tax, i have valued it @ $A1400/oz)

# Indicates a JORC resource

I have updated the valuations on all listed investments so the above figures are as of tonights closing share prices

Of the 24 companies on the LOW EV list, 12 have a JORC resource, heres the first tranche updated, will update the rest in due course! ;)

[skid]

Shasta For someone who is out of the market ATM ,you are most generous with your reasearch-much appreciated

[JBmurc]

Shasta For someone who is out of the market ATM ,you are most generous with your reasearch-much appreciated

Yes certainly a legend on this site

[JBmurc]

This is really excellent thanks Shasta....some pretty valuable IP!

If you are able to / or want to add some more research, it would be interesting for those companies with JORC's, to calculate what the current in ground value of their JORC's based on current metal prices, to get an idea of the potential of the resource....I am thinking HLX may have the most valuable resource of those listed???

yeah HLX has a near unbelieveable IGV 30% of 840Mt iron ore resource+ 49% 800koz Au 1.2moz Ag + 18,000t copper resource

then they have drills result near surface at their 70% restdown permit--- 24m at 2.6g/t gold from 4m, including 12m @ 4.9g/t gold from 8m; and
- 32m at 2.2g/t gold from 36m, including 8m @ 4.1g/t gold from 56m


IGV====2billion+ ? have to be round their some where..
Now hope monday a shareholder will sell me more at 11c like taking candy from a baby 16.7m market cap LOL

[shasta]

Shasta For someone who is out of the market ATM ,you are most generous with your reasearch-much appreciated

Since i badly reaggravated an old lower back & neck injury (which required brief hospitalisation last week), i might have even more time on my hands now, as i was getting ready to return to work! Cant do anything til i have xrays/mri scans & see an Orthopedic specialist with a view to possible vertebrae fusion surgery.

Am on 5 different pain killers & muscle relaxants to try & help the constant back spasms at the mo, wouldnt be so bad, except im only 34!

I like to keep up to date with all thats going on in the markets, & doing this has kept the mind sharp, when it could easily drift into a bad mental head space!

Plus i wanna have the ducks lined up for when im back ;)

[JBmurc]

Since i badly reaggravated an old lower back & neck injury (which required brief hospitalisation last week), i might have even more time on my hands now, as i was getting ready to return to work! Cant do anything til i have xrays/mri scans & see an Orthopedic specialist with a view to possible vertebrae fusion surgery.

Am on 5 different pain killers & muscle relaxants to try & help the constant back spasms at the mo, wouldnt be so bad, except im only 34!

I like to keep up to date with all thats going on in the markets, & doing this has kept the mind sharp, when it could easily drift into a bad mental head space!

Plus i wanna have the ducks lined up for when im back ;)

No good mate hope it comes good had my far share of injuries from snowboarding,trail riding etc being a share trading certainly keeps the mind active when the body isn't...

[percy]

Shasta,
The ducks look pretty well lined up. Just have to do the same with your neck and lower back.We all enjoy your efforts at keeping the brain fully occupied.!!! but would rather have your good health first.

[Corporate]

shasta, sorry to hear about your situation. I hope it comes right and you're back in action shortly!

[Huang Chung]

Shas, look after yourself buddy.

I've had my own share of back problems in the past, but they pale into insignicance compared to what you're going through.

Hoping you have a speedy and lasting recovery.

[shasta]

Shas, look after yourself buddy.

I've had my own share of back problems in the past, but they pale into insignicance compared to what you're going through.

Hoping you have a speedy and lasting recovery.

Cheers folks, it hasn't responded to any pain relief yet, so this could take a while to settle

Back in 2008 i was off work for over 6 months while i went thru a full 1 on 1 rehabilitation program with ACC on the same injury, this time around my neck is also a mess, so i have a rough idea of what to expect, tbhough this time surgery is an option im considering to fix it once & for all!

But still, i'll keep on with the LOW EV list & calculating the IGV on the JORC resources & shall update in due course

[denpal]

Shasta, here's to you getting better soon and not being in pain anymore! Hey, don't forget to check out IRC; look at the 2010 Annual report to get the JORC'd up vanadium and moly. A warning, you'll need a calculator that can work with a couple of orders of magnitude more than normal!! They have a heap of gold too. Unreal.

[buns]

Unlucky shasta - going by your investment know how, you seem a pretty driven bloke, hopefully this gets you over this asap.

Whatever you do - Do not feel obliged to come on here and update your ST watchlists! But do try and find the time to post your Prem league multi's... Just joshing - All the best.

[shasta]

Shasta, here's to you getting better soon and not being in pain anymore! Hey, don't forget to check out IRC; look at the 2010 Annual report to get the JORC'd up vanadium and moly. A warning, you'll need a calculator that can work with a couple of orders of magnitude more than normal!! They have a heap of gold too. Unreal.

IRC is #14 out of 25 off the list, with an EV of just $6.3m (i havent factored into account yet the rights issue cash/xtra shres) there shares in RWD are worth ~$5m alone!

Just reading my notes they skipped off the list as last quarterly showed < $1m cash (this was a losse criteria i had, but now ive opened it back up)

Buns - its probably been the research i do thats kept me outta the looney bin!

[shasta]

AIV - Company presentation (#11 on the list, EV $5.7m)

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=230381

I shall start new threads for those on the LOW EV list without one, over the next week or so

Highlights: especially for JBMurc ;)

Bonanza grade gold-silver intersections Barambah Project 2m @ 15g/t gold, 1556g/t silver

AIV also has an interesting 100% owned Potash project

[shasta]

MGY - EXPLORATION UPDATE - MADAGASCAR

http://stocknessmonster.com/news-item?S=MGY&E=ASX&N=534791

MGY covers the following metals Ni, Cu, Au, Ag, Va, REE

NO JORC resource as yet, but an interesting company to keep on watch

EV after todays SP increase is $6.7m

[denpal]

IRC has a massive vanadium resource in the NT at Julia Creek, and also has moly.

MC a paltry $15M or so (114,805787 FPO's post cap-raising @ 13c).

V2O5 = 5.308Bt @ 0.4% = 21.232Mt @ say $7/lb = IGV $327.7B
Moly = 5.308Bt @ 312g/t = 1.656Mt @ say $12/lb = IGV $43.8B

Total IGV = $371.5B and there is heaps more of this at-surface soft oxide mineralisation. Surely this is a record low EV/IGV at 0.003%?

Oh, they also have lots of gold at least 300,000 oz and will be campaign mining a supergene deposit of around 30,000 oz this year. They already have the gear.

Vanadium is a strategic mineral as it has new uses in the vanadium storage batteries that can give near instant charge/discharge and very suitable for solar and wind generation. This will be sped up with the fallout from nuclear in the news now.

This stock requires much patience. It's the sort of stock that you buy and put away for a few years in the bottom drawer.

Worth a read. I don't hold yet but it's on my sleeper watchlist. New shares (22M @ 12c) to hit the bourse later this month.

Well here is a website confirming that IRC has indeed 20 million tonnes of JORC'd vanadium: http://www.australian-shares.com/asx-top-12-by-vanadium-resource.html

So, 21,232,000,000t *2,205lbs* $7/lb = $327.7B and that's only for the vanadium, plus there is heaps more resource there not included in the JORC!!! Plus they have moly, and also gold in a different location.

What say you, fellow investors?

[shasta]

Well here is a website confirming that IRC has indeed 20 million tonnes of JORC'd vanadium: http://www.australian-shares.com/asx-top-12-by-vanadium-resource.html

So, 21,232,000,000t *2,205lbs* $7/lb = $327.7B and that's only for the vanadium, plus there is heaps more resource there not included in the JORC!!! Plus they have moly, and also gold in a different location.

What say you, fellow investors?

Im going to have to expand the IGV cell in the spreadsheet for a start, IRC is on the list to be added with a few more this week ;)

Im working on the list

[JBmurc]

AIV - Company presentation (#11 on the list, EV $5.7m)

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=230381

I shall start new threads for those on the LOW EV list without one, over the next week or so

Highlights: especially for JBMurc ;)

Bonanza grade gold-silver intersections Barambah Project 2m @ 15g/t gold, 1556g/t silver

AIV also has an interesting 100% owned Potash project

yeah sounds good at what depth? hoping GRM -- El rodeo drilling will be even better --should be annouced anytime over the next couple weeks need some good widths they are drilling at shallow depths so anything good 4m+ 1000g/t ag will be very economical esp on Mexican labour costs

[shasta]

Update on the LOW EV List, as a close of trade 25/3/11. (* indicates JORC resource)

Bold stocks have existing threads

Am in the process of rehashing the spreadsheet into a template so i can value each JORC resource company & update as required

SPQ @ $0.08, EV = $2.1m
GES @ $0.095, EV = $2.8m* (The JORC resource project is under an "option to acquire 62% of")
MOX @ $0.073, EV = $2.9m (im struggling to work out how MOX isn't on more peoples radar, one of the best LOW EV plays ive seen)
RSL @ $0.078, EV = $3.3m*
CXO @ $0.20, EV = $3.3m
LCR @ $0.09, EV = $4.3m*
FRY @ $0.23, EV = $4.5m*
PEX @ $0.087, EV = $5.3m*
AIV @ $0.057, EV = $5.4m
GRM @ $0.056, EV = $5.4m
WCN @ $0.145, EV = $5.5m
MEU @ $0.093, EV = $6.3m
MGY @ $0.057, EV = $6.4m
PDZ @ $0.165, EV = $6.6m*
YRR @ $0.032, EV = $6.8m*
GMM @ $0.22, EV = $6.9m
IRC @ $0.14, EV = $7.4m*
RCO @ $0.41, EV = $8.0m
CZN @ $0.11, EV = $8.1m*
ARV @ $0.048, EV = 10.9m
BAR @ $0.04, EV = $11.3m*
AXE @ $0.235, EV = $11.8m*
HLX @ $0.11, EV = $12.3m*
RXL @ $0.05, EV = $12.4m*
SMD @ $0.18, EV = $13.3m*

[Corporate]

Thanks shasta, appreciate your work. Do you know much at MEU? I'm looking into MOX and as you have pointed out MOX have a significant holding in MEU.

One thing about MOX is it's very illiquid!

[shasta]

Thanks shasta, appreciate your work. Do you know much at MEU? I'm looking into MOX and as you have pointed out MOX have a significant holding in MEU.

One thing about MOX is it's very illiquid!

Yes, MEU was the uranium spin out from MOX, but MOX/MEU also have a promising Copper/Gold JV at Melton, 1 of MOX's 3 main projects, & MEU has other projects

MOX owns 36m shares in MEU, so i favour MOX to MEU.

What like about MOX is there other two main projects, a Copper/Gold project with a large Chilean Copper company Antofagasta (top 10 in world copper producer) & the Iron Ore/Manganese project with the large ASX listed OMH. (who also have an Iron Ore/Manganese JV project with AXE, another LOW EV stock)

All MOX's projects are on the same trend as Olympic Dam (BHP) & Prominent Hill (OZL) in South Australia, i like these plays when the JV drilling is funded by large partners, theres plenty of gold & copper around the area!

Im sure Hotcopper will be all over it when the drilling results come in, better to find these BEFORE HC goes gaga ;)

[JBmurc]

Yes, MEU was the uranium spin out from MOX, but MOX/MEU also have a promising Copper/Gold JV at Melton, 1 of MOX's 3 main projects, & MEU has other projects

MOX owns 36m shares in MEU, so i favour MOX to MEU.

What like about MOX is there other two main projects, a Copper/Gold project with a large Chilean Copper company Antofagasta (top 10 in world copper producer) & the Iron Ore/Manganese project with the large ASX listed OMH. (who also have an Iron Ore/Manganese JV project with AXE, another LOW EV stock)

All MOX's projects are on the same trend as Olympic Dam (BHP) & Prominent Hill (OZL) in South Australia, i like these plays when the JV drilling is funded by large partners, theres plenty of gold & copper around the area!

Im sure Hotcopper will be all over it when the drilling results come in, better to find these BEFORE HC goes gaga ;)

yeah to right sold my small position for a quick buck no-one wanted to sell me a decent position-- did get my mate on board before hand while their was still some selling pressure I got the tail end of the mid 6's sell-off

[Corporate]

Yes, MEU was the uranium spin out from MOX, but MOX/MEU also have a promising Copper/Gold JV at Melton, 1 of MOX's 3 main projects, & MEU has other projects

MOX owns 36m shares in MEU, so i favour MOX to MEU.

What like about MOX is there other two main projects, a Copper/Gold project with a large Chilean Copper company Antofagasta (top 10 in world copper producer) & the Iron Ore/Manganese project with the large ASX listed OMH. (who also have an Iron Ore/Manganese JV project with AXE, another LOW EV stock)

All MOX's projects are on the same trend as Olympic Dam (BHP) & Prominent Hill (OZL) in South Australia, i like these plays when the JV drilling is funded by large partners, theres plenty of gold & copper around the area!

Im sure Hotcopper will be all over it when the drilling results come in, better to find these BEFORE HC goes gaga ;)

Thanks for your reply shasta, great as usual. I got some of my order filled today at 6.9c :-)

Accumulating while everyone else is asleep...perfect!

[JBmurc]

Thanks for your reply shasta, great as usual. I got some of my order filled today at 6.9c :-)

Accumulating while everyone else is asleep...perfect!

Don't think so picked up a small lot for myself at 6.9c day before keen to get a few more once some funds become available

[Corporate]

Don't think so picked up a small lot for myself at 6.9c day before keen to get a few more once some funds become available

Not sure what part of my post you are replying to JB. But nonetheless, MOX is cheap! Hopefully fill the rest of my order this week.

[JBmurc]

Not sure what part of my post you are replying to JB. But nonetheless, MOX is cheap! Hopefully fill the rest of my order this week.

Accumulating while everyone else is asleep...perfect ..

[Corporate]

Accumulating while everyone else is asleep...perfect ..

Haha, well I think it's just you and me then! Glad I'm in good company.

[JBmurc]

Haha, well I think it's just you and me then! Glad I'm in good company.

yeah I think it's a no brainer at these levels if the like of punt hill is any good this micro cap will explode downside is limited with a great mix of assets with free carry on a few a major bonus

[Corporate]

yeah I think it's a no brainer at these levels if the like of punt hill is any good this micro cap will explode downside is limited with a great mix of assets with free carry on a few a major bonus

My thoughts aswell. I love the free carry by two majors.

Just picked up another 66,000 shares first thing this morning.

[shasta]

My thoughts aswell. I love the free carry by two majors.

Just picked up another 66,000 shares first thing this morning.

LCR - Laconia commences drilling at the Kookynie Gold Project

http://stocknessmonster.com/news-item?S=LCR&E=ASX&N=535630

LCR is currently #4 on the LOW EV list @ just $2.6m (with a JORC resource & $3.1m cash)

Not sure why it dropped from 9c to 7c on the back of this ann...

About Laconia Resources

Laconia Resources is a Perth-based advanced gold and base metals exploration company. The Company
has a portfolio of advanced gold and base metals projects near Kalgoorlie and in the Murchison and Pilbara
regions in Western Australia, across 35 granted tenements covering an approximate 955km2.

Laconia has a significant base metal ground position in the Pilbara including the Lennons Find Project.

Lennons Find is an advanced base metal exploration project, which has a JORC Code Inferred Resource
of 853,000 tonnes grading 7.7% Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag.

The Company is focused on targeted exploration of its project areas, and further definition and expansion of its Resource base at its advanced projects.

[shasta]

Low EV Resource List - Update:

# Indicates a JORC resource

I am in the process of calculating the IGV on the companies with JORC projects & will add this in due course, for those who may want additional info on a particular stock that hasn't already got its own thread (i will get around to starting them for each LOW EV stock, in due course), i monitor the following details.

1. Share price of the stock when i first came across it, so i can monitor whats gone up/down
2. The closing share price daily as per the last trade
3. # of shares on issue, only YRR, ARV & BAR have just over 300m, & 14 of the 25 stocks have less than 100m shares on issue
4. Market Cap, Cash as per last quarter (i update weekly for any capital raisings, issue of shares etc), & EV
5. Listed Investments, i update these weekly, or daily if theres a significant movement
6. IGV, IGV% - still a work in progress, am thinking of adding in a "valuation" into the EV, based on 1% of a JORC IGV
7. What metals the company has direct/indirect exposure to
8. Which companies have a JORC resource
9. Special situations, bonus issues, capital returns, IPO entitlements etc
10. What companies currently have listed options

[shasta]

LOW EV list - Update:

SPQ @ $0.08, EV = $2.1m - Cu,Pb,Zn,Ag,U308,Phos
CXO @ $0.175, EV = $2.3m - Cu, U308
MOX @ $0.071, EV = $2.6m - Au, Cu, Fe, Mn, Bax, Base, U308
LCR @ $0.07, EV = $2.6m - Au, Ag, Fe, REE, U308, Base
GES @ $0.095, EV = $2.8m - Ag, Au, Cu, Mn, Fe#
RSL @ $0.075, EV = $3.1m - U308, REE#
IRC @ $0.16, EV = $4.1m - Au, Va, Mo, Potash
FRY @ $0.23, EV = $4.5m - Cu, Zn, Ag, Au#
AIV @ $0.056, EV = $5.3m - Cu, Ag, Co, Potash# (NB, Will need to raise cash this quarter)
GRM @ $0.056, EV = $5.4m - Au, Ag, Cu, Zn Mo
PEX @ $0.089, EV = $5.5m - Au, Ag, Wo, Zn, Pb, Cu, Mo#
WCN @ $0.145, EV = $5.5m - Ni, Cu, Au, Fe, Mn
MEU @ $0.093, EV = $6.3m - U308, Au, Fe, Base
YRR @ $0.032, EV = $6.8m - Va, Fe, Ti#
GMM @ $0.22, Ev = $6.9m - Li, Potash, Mn, Fe
MGY @ $0.062, EV = $7.2m - Ni, Cu, Au, Ag,Va, REE
CZN @ $0.105, EV = $7.6m - Ni, Cu, Co#
RCO @ $0.405, EV = $7.7m - Royalties, Gold + Divs*, on a 9.88% yield, fully franked
PDZ @ $0.185, EV = $8.3m - Zn, Pb, Ag, Fe,#
ORM @ $0.18, EV = $9.9m - REE, Au, U308 (New Entrant, & ASX:MLM has a 10%+ stake, hence my interest)
HLX @ $0.105, EV = $11.5m - Fe, Au, Cu, U308#
ARV @ $0.05, EV = $11.5m - Au, Ag, REE, U308
BAR @ $0.043, EV = $12.2m - Au, Ni, Co, Mn#
AXE @ $0.245, EV = $12.6m - Cu, Ag, Mn, Fe, REE, U308#
SMD @ $0.19, EV = $14.2m - Cu, Au, REE, Mo, Ag, Base#

Removed off the list this week, RXL

EV list cut off point is $15m

[shasta]

MEU - Junction Dam uranium project

http://stocknessmonster.com/news-item?S=MEU&E=ASX&N=182535

MEU set to increase its interest in the project currently at 74.5%, as Teck will not be contributing to the phase 3 drilling program.

MEU had $7.7m cash as at 31 Dec, so has the funds to complete the drilling program

[shasta]

RSL - Uranium JV with ASX:THX

http://stocknessmonster.com/news-item?S=RSL&E=ASX&N=535987

Resource Star’s Chairman, Andrew Bell, commented:

“This is a very exciting, early stage project that could quickly evolve into a discovery. In addition
there’s further regional potential for this often high grade style of mineralisation beyond the known
prospects. We are delighted to be working with Thundelarra who have an excellent track record in
targeting new uranium fields. ”

[shasta]

WCN - Drilling Identifies Massive Sulphides at Jungle Pool

http://stocknessmonster.com/news-item?S=WCN&E=ASX&N=536122

This is what all the fuss was over, the heat coming out of WCN now though, ended yesterday @ 18c, spiked today hitting 27c & bizzarely down to 18c again!

WCN @ 18c, has an EV of $7.7m (also have $3.5m cash, & they also have JV partners funding some projects)

[drillfix]

Yeah Shasta, gotta watch some of these companies or should I say, the investors in them because today was a classic sell the news play.

Were to from here? Most likely wait for the dust to settle, pick a few up on any weakness and then talk wait for those to talk up the next drilling results.

I think stocks like this and CZN are burning me out (not that I held any WCN) but as for the holding and waiting part is what I am not good at. I dont have the resources to spread myself over too many stocks that sit idle for too long.

May need to go back to just trading liquid blue chips whereby it dont matter much about when you enter as there is mostly a nice part of the day to both enter and exit, and then no holding over night in case markets fall, turn, twist, whatever.

ahh well, Thats my whine for the day :P

[shasta]

Yeah Shasta, gotta watch some of these companies or should I say, the investors in them because today was a classic sell the news play.

Were to from here? Most likely wait for the dust to settle, pick a few up on any weakness and then talk wait for those to talk up the next drilling results.

I think stocks like this and CZN are burning me out (not that I held any WCN) but as for the holding and waiting part is what I am not good at. I dont have the resources to spread myself over too many stocks that sit idle for too long.

May need to go back to just trading liquid blue chips whereby it dont matter much about when you enter as there is mostly a nice part of the day to both enter and exit, and then no holding over night in case markets fall, turn, twist, whatever.

ahh well, Thats my whine for the day :P

Vey strange though that it would start so strong, up 50% as the intra day high, & yet unable to hold ANY gains?

I've had WCN on the list for a while @ 14.5c, so yesterdays increase (+3.5c to 18c) was the 1st significant movement in a long time, but i guess in the overal scheme of things the volume is < 2m

Weird though

[shasta]

ORM - KILLI KILLI DRILLING PROGRAM FAST-TRACKED

http://stocknessmonster.com/news-item?S=ORM&E=ASX&N=230879

Key points:

- FIELD WORK TO START AS EARLY AS MAY, WITH DRILLING TO COMMENCE BY JUNE 2011

- WITH MORE THAN 600 SQ Km2 IN THE TANAMI, ORION HAS ENHANCED ITS HEAVY RARE EARTH ELEMENTS (HREE) & GOLD PROJECT

The cost of the first phase of the 2011 field work and drilling program is approximately $500,000 and will include high resolution magnetic and radiometric airborne surveys.

Orion now boasts a substantial holding in a desirable and highly prospective location for significant HREE/gold occurrences. We remain focussed on our exploration strategy and project building initiatives in the Killi Killi region.

ORM has an EV ~$10m, & with $4.4m cash have more than sufficent funds to cover the drilling program (ORM 100% owned)

[shasta]

A new entrant to the LOW EV List this week is PMQ - Planet Metals

M Cap @ $0.086 = $5.1m

Cash @ 31/12 = $0.9m (low burn rate on admin costs)

EV = $4.2m

MLM owns 76% of PMQ, but the value here is in there recent transaction to sell there 85% interest in the Wolfram Camp Tungsten Project
(Note: this project has already been put up for sale & fallen thru previously, so there is some risk attached to this stock)

Key terms relating to the purchase include:

Non-refundable deposit of $200,000 paid by Deutsche Rohstoff at the time of signing the Agreement.
Deutsche Rohstoff has until 9 May 2011 to carry out its due diligence.

If Deutsche Rohstoff decides to complete the transaction, an amount of $3,300,000 cash is required to be paid on 10 May 2011.
The balance purchase price, being $3,500,000, will be issued in 180,500 Deutsche Rohstoff AG shares on 1 September 2011.

Deutsche Rohstoff has an option to pay the balance purchase price in cash if it notifies Planet of this intention before 31 July 2011.

The deal is structured to also provide Planet with some downside protection by means of a supplementary cash payment if Deutsche Rohstoff’s share price as at 1 September 2011 is more than 20% lower than the agreed equivalent share price on the date of signing the Share Sale Agreement.

Deutsche Rohstoff AG is a diversified German resources company with a focus on gold and hi-tech metals such as rare earths, tin and tungsten. It is listed on the Frankfurt Stock Exchange and has a market capitalisation of approximately A$85M equivalent, based on a share price of €14.30 as at 4 April 2011. The 52 week high/low for the shares is €6.40/€19.13.

Operations include a producing gold mine near Georgetown (north-west Queensland) and various exploration assets in Canada and Germany. Deutsche Rohstoff has an intricate understanding of the Australian resources sector with a team of experts and consultants based in Brisbane and North Queensland. Additional details regarding Deutsche Rohstoff's operations can be obtained from their website at www.rohstoff.de/index-en.shtml.

For further details of there remaining projects:
http://stocknessmonster.com/news-item?S=PMQ&E=ASX&N=228521

[shasta]

AIV - Trading Halt

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=231012

Yup the capital raising i've been flagging, could be worth a look, if options attached etc

[shasta]

Fridays update of the LOW EV List:

(Nb, As & when the quarterly cashflows are announced, i will adjust the cash balances accordingly)

# indicates a JORC resource

SPQ @ $0.055, EV = $0.2m
CXO @ $0.17, EV = $2.1m
IRC @ $0.14, EV = $2.8m#
MOX @ $0.074, EV = $3.0m
LCR @ $0.075, EV = $3.0m#
GES @ $0.11, EV= $3.6m#
RSL @ $0.83, EV = $3.6m#
PMQ @ $0.086, EV = $4.2m (New entrant & selling a Tungsten project for $3.5m cash & $3.5m in shares, potential negative EV!)
FRY @ $0.24, EV = $4.9m#
AIV @ $0.055, EV = $5.1m# - Currently in a TH for capital raising
YRR @ $0.03, EV = $6.2m#
MEU @ $0.093, EV = $6.3m
PEX @ $0.099, EV = $6.4m#
GMM @ $0.21, EV = $6.5m
MGY @ 0.059, EV = $6.7m
CZN @ $0.11, EV = $8.1m#
RCO @ $0.42, EV = $8.5m (9.52% FF yield, & valuing there 1,062.5/oz Au @ $A1400/oz)
WCN @ $0.18, EV = $8.6m
GRM @ $0.081, EV = $8.7m
PDZ @ $0.19, EV = $8.9m#
ARV @ $0.048, EV = $10.9m
ORM @ $0.20, EV = $11.5m
BAR @ $0.044, EV = $12.6m#
AXE @ $0.245, EV = $12.6m#
HLX @ $0.115, EV = $14.0m#
SMD @ $0.195, EV = $14.7m#

Still working on the IGV calculations, & will update the "Breakout Thread" for those LOW EV companies who look oversold, or ready to run...

[trackers]

Watching AIV cap raising closely... Thanks for the update on the rest Shasta, SPQ is looking pretty cheap (if you can get any for that!) and am also watching SMD thinking about increasing holdings

[shasta]

AIV - Rights/Options details

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=231083

3:8 non renouncable rights, @ 5c with a option attached to every 2 shares subscribed for, with a 12 month expiry from date granted @ 8c

What do you reckon Trackers?

[trackers]

AIV - Rights/Options details

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=231083

3:8 non renouncable rights, @ 5c with a option attached to every 2 shares subscribed for, with a 12 month expiry from date granted @ 8c

What do you reckon Trackers?

Hey Shasta, I quite like the combined placement/rights issue... Think they've done well, the price is reasonable etc and attached oppies are always good...

The only things that I'm a bit hesitant are: 1. No record date given (so new buyers could get screwed down the track like I did recently with RFE, albeit thats unlikely) and b. Oppies exercisable within 12 months at 8c (50% premium) - Love the confidence but thats fairly ambitious

[shasta]

Hey Shasta, I quite like the combined placement/rights issue... Think they've done well, the price is reasonable etc and attached oppies are always good...

The only things that I'm a bit hesitant are: 1. No record date given (so new buyers could get screwed down the track like I did recently with RFE, albeit thats unlikely) and b. Oppies exercisable within 12 months at 8c (50% premium) - Love the confidence but thats fairly ambitious

Given its low EV, & exposure to some decent projects, i thought the options looked quite good.

Issuing at 5c when the SP has traded 5.5 - 6c isnt too bad & shareholders got the same deal as the sophisticated investors

[mark100]

XCD - just re-listed today after share consolidation, capital raising and change of activity.

At 23c market cap is $20.7m, cash in bank of $11.3m for an EV of $9.5m.

They have a 55Mt Indicated JORC Resource of thermal coal in South Africa with production targeted for 2013. Also have an option to acquire another coal project

[shasta]

XCD - just re-listed today after share consolidation, capital raising and change of activity.

At 23c market cap is $20.7m, cash in bank of $11.3m for an EV of $9.5m.

They have a 55Mt Indicated JORC Resource of thermal coal in South Africa with production targeted for 2013. Also have an option to acquire another coal project

Cheers for this, i know i stated i wasnt after coal companies for the LOW EV list, but i am looking at cheap coal plays & XCD did go on my "to follow up" list yesterday, also looking at TCM, have you looked at them previously? (Another thermal & PCI coal play)

[shasta]

RXL - MARQUA PHOSPHATE TENEMENTS GRANTED

http://stocknessmonster.com/news-item?S=RXL&E=ASX&N=537265

Time to add them back onto the low EV list, they do have some interesting projects

[mark100]

Cheers for this, i know i stated i wasnt after coal companies for the LOW EV list, but i am looking at cheap coal plays & XCD did go on my "to follow up" list yesterday, also looking at TCM, have you looked at them previously? (Another thermal & PCI coal play)

Sorry I didn't realise you weren't looking for coal on this list. I think I started a thread on TCM at some stage, I have traded them a fair bit over the past year but got a bit put off by their slow progress. The news flow does seem to be picking up for them now. I thought the 'nearology' to NEC could have helped during the takeover but not so

[shasta]

Sorry I didn't realise you weren't looking for coal on this list. I think I started a thread on TCM at some stage, I have traded them a fair bit over the past year but got a bit put off by their slow progress. The news flow does seem to be picking up for them now. I thought the 'nearology' to NEC could have helped during the takeover but not so

Actually TCM lead me to HRS another negative EV company, who own a good chunk of TCM, among other listed companies. XCD is on my list to review

[duncanjones]

Shasta have a look into PXG.

Very cheap gold explorer with a JORC and i think a stockpile of untreated ore??

Any way you could do a quick calculation on the EV if you get some spare time??

PXGO - 20c strike
PXGOA - 25c strike

[drillfix]

Shasta have a look into PXG.

Very cheap gold explorer with a JORC and i think a stockpile of untreated ore??



Nice Duncan, very few issued shares too.

Was going to grab a small parcel but ended up getting a small parcel of MKO instead, which also only has approx 35M issued FPO and few escrowed options only.

Would be good for a person like Shasta to compare both of these stocks though MKO and PXG to see what his dynamic abilities display :)

I feel both stocks are nice, and wish I had enough to hedge my bets across the board, but thats always the ongoing problem :P

[shasta]

Nice Duncan, very few issued shares too.

Was going to grab a small parcel but ended up getting a small parcel of MKO instead, which also only has approx 35M issued FPO and few escrowed options only.

Would be good for a person like Shasta to compare both of these stocks though MKO and PXG to see what his dynamic abilities display :)

I feel both stocks are nice, and wish I had enough to hedge my bets across the board, but thats always the ongoing problem :P

I shall do just that Drilly/Duncan, but as far as pure gold plays go, i dont add them into the Low EV list unless they have other projects in other metals.

I prefer Gold producers with the PoG being so strong, i especially like GDO, unless they are near term (< 12 months) of production, there are too many competing explorers, & many will miss the boat for large gains whilst trying to shore up a 1m/oz resoure for 10 year 100k/oz projects

[shasta]

Shasta have a look into PXG.

Very cheap gold explorer with a JORC and i think a stockpile of untreated ore??

Any way you could do a quick calculation on the EV if you get some spare time??

PXGO - 20c strike
PXGOA - 25c strike

Using my super duper quick scan, heres the run down...

MCap @ 20c = ~$15.8m (78m shares on issue, 25m held in escrow, 53m tradeable)

Cash est $4m (last qtr was $5.1m & forecast outgoings were approx $1.1m)

EV = $11.8m* (applying a 1% JORC IGV valuation, it becomes $11.8m - $14.1m = Negative $2.3m, or 0.8% for EV/IGV, anything less than 1% is good value)

What i have just started doing is applying a 1% valuation of the IGV of JORC resources

977k/oz Gold x $A1,450/oz = $1.4b x 1% = $14.1m

Theres some value in this, nice find

[shasta]

Nice Duncan, very few issued shares too.

Was going to grab a small parcel but ended up getting a small parcel of MKO instead, which also only has approx 35M issued FPO and few escrowed options only.

Would be good for a person like Shasta to compare both of these stocks though MKO and PXG to see what his dynamic abilities display :)

I feel both stocks are nice, and wish I had enough to hedge my bets across the board, but thats always the ongoing problem :P

Run down on MKO

MCap @ $0.23 = $13.8m (60m shares on issue, 27m held in escrow, 33m tradeable)

Cash est $3.4m (Per last Qtr $4.3m - 0.9m forecast outgoings)

EV = $10.4m

No JORC resource, makes any valuation of projects too subjective, but active drilling will generate newsflow, id be looking for better grades though as there results are very average as most are < 2g/t Au.

Comparing the two (PXG v MKO), unless ive missed something in MKO, PXG looks much better value due to its JORC resource (not high grade either mind you)

[JBmurc]

My biggest holding on the list is HLX for good reason -Yalleen Iron ore discovery -HLX holds a 30% interest has a IGV of 6 billion
HLX is currently being valued at 15mill now this is only their major asset they also Gold,copper discovers in J.V and masses of prime exploration grounds(which on their own could well command a decent cap)

[Entrep]

Watching HLX very closely here too - only problem is the volume and SP are not doing anything. They also have a completely unco-operative (adverserial?) and controlling JV partner for the Yalleen Iron project.

[shasta]

My biggest holding on the list is HLX for good reason -Yalleen Iron ore discovery -HLX holds a 30% interest has a IGV of 6 billion
HLX is currently being valued at 15mill now this is only their major asset they also Gold,copper discovers in J.V and masses of prime exploration grounds(which on their own could well command a decent cap)

@ 10c HLX's EV = $11m, i completely missed out there 4m share in GCY (only worth $0.8m but still), will update the list this weekend

[drillfix]

Run down on MKO

MCap @ $0.23 = $13.8m (60m shares on issue, 27m held in escrow, 33m tradeable)

Cash est $3.4m (Per last Qtr $4.3m - 0.9m forecast outgoings)

EV = $10.4m

No JORC resource, makes any valuation of projects too subjective, but active drilling will generate newsflow, id be looking for better grades though as there results are very average as most are < 2g/t Au.

Comparing the two (PXG v MKO), unless ive missed something in MKO, PXG looks much better value due to its JORC resource (not high grade either mind you)


Hmmm, typical me, backing the wrong horse as usual... :P

It is said that news expected so a JORC within a couple of weeks should change everything with regards to a comparison but then I guess that will also depend on the grades themselves, or let the drill bit do the talking so to speak.

As always, thanks again Shasta, your a champ.

[shasta]

Hmmm, typical me, backing the wrong horse as usual... :P

It is said that news expected so a JORC within a couple of weeks should change everything with regards to a comparison but then I guess that will also depend on the grades themselves, or let the drill bit do the talking so to speak.

As always, thanks again Shasta, your a champ.

When they announce the JORC resource, i'll take another look a it, im just not interested in gold explorers personally, thats not to say they arent any good, good drill results will keep pushing the SP north, its just not what i'm looking at, but i have an extensive gold watchlist of mainly producers, so im watching ;)

[JBmurc]

Watching HLX very closely here too - only problem is the volume and SP are not doing anything. They also have a completely unco-operative (adverserial?) and controlling JV partner for the Yalleen Iron project.

yeah isn't the most busy J.V going round --but Helix has the right on the JV Decision to Mine to sell their interest to API at fair market value ---RB milestone gives HLX a $1+ value on Yalleen alone some 170mill value so their interest must be worth a quite a few mutiables of current SP in cash then they also have the Tunkillia Gold project 47% they will sell on decision to mine
HLX could well have 60c+ in cash backing one day

[shasta]

yeah isn't the most busy J.V going round --but Helix has the right on the JV Decision to Mine to sell their interest to API at fair market value ---RB milestone gives HLX a $1+ value on Yalleen alone some 170mill value so their interest must be worth a quite a few mutiables of current SP in cash then they also have the Tunkillia Gold project 47% they will sell on decision to mine
HLX could well have 60c+ in cash backing one day

I also like HLX's copper assets, they alone support its current market cap, am updating the EV list

[Aotea]

Am holding HLX and hope to pick up a few more first thing Monday at 7.1. They are ready to boost..

[percy]

Am holding HLX and hope to pick up a few more first thing Monday at 7.1. They are ready to boost..

I note there are buyers for over 300,000 ahead of you at 9.5cents or more.
Buy 175,000 at 10.5 on sell side 11.5 24,696

[JBmurc]

I also like HLX's copper assets, they alone support its current market cap, am updating the EV list

Yes the Joshua Copper Project in chile could be huge then you also have Olary Magnetite Project(major discovery potential)

It really doesn't make sense HLX has just far to many assets to marketcap but I'm sure that will change with a truckload of drilling underway now with more to come mid year we should have a steady amount of drilling results to come.

Don't know about 7.1c Aotea HLX has very good support at these levels for good reason I'm happy to buy at these levels hoping to take my holding to 400k soon

[shasta]

Yes the Joshua Copper Project in chile could be huge then you also have Olary Magnetite Project(major discovery potential)

It really doesn't make sense HLX has just far to many assets to marketcap but I'm sure that will change with a truckload of drilling underway now with more to come mid year we should have a steady amount of drilling results to come.

Don't know about 7.1c Aotea HLX has very good support at these levels for good reason I'm happy to buy at these levels hoping to take my holding to 400k soon

Just finalising the LOW EV list at the moment, but HLX, MOX & IRC are real head scratchers, all so massively undervalued

[percy]

shasta,
Have you mentioned IRC before ?

[shasta]

Low EV List Update:

I will adjust the true cash position as & when the quarterlies are announced, stocks with a # have JORC resources

SPQ @ 5.5c = EV $0.1m - projects cover - Cu,Pb,Zn,Ag,U308,Phos
IRC @ 13.5c = EV $2.1m - projects cover - Au, Va, Mo, Potash#
MOX @ 7.0c = EV $2.5m - projects cover - Au, Cu, Fe, Mn, Bax, Base, U308
LCR @ 7.0c = EV $2.6m -projects cover - Au, Ag, Fe, REE, U308, Base#
CXO @ 19c = EV $ 2.9m - projects cover - Cu, U308
RSL @ 8.2c = EV $3.5m - projects cover - U308, REE#
PDZ @ 17c = EV $4.5m - projects cover - Zn, Pb, Ag, Fe,#
PMQ @ 9.5c = EV $4.8m - projects cover - Cu, Au (NB, selling a Tungsten project for $3.5m cash & $3.5m in shares)
GES @ 14c = EV $5.1m - projects cover - Ag, Au, Cu, Mn, Fe#
AIV @ 5.5c, = EV $5.1m - projects cover - Cu, Ag, Co, Potash# (New shares ex rights not added yet, nor cash raised)
GMM @ 18.5c = EV $5.3m - projects cover - Li, Potash, Mn, Fe
FRY @ 25.5c = EV $5.6m - projects cover - Cu, Zn, Ag, Au#
CZN @ 8.6c = EV $5.7m - projects cover - Ni, Cu, Co#
MEU @ 9.1c = EV $6.0m - projects cover - U308, Au, Fe, Base
PEX @ 10c = EV $6.5m - projects cover -Au, Ag, Wo, Zn, Pb, Cu, Mo#
MGY @ 6.0c = EV $6.9m - projects cover - Ni, Cu, Au, Ag,Va, REE
WCN @ 16c = EV $7.3m - projects cover - Ni, Cu, Au, Fe, Mn
RCO @ 40.5c = EV $7.7m - projects cover - Royalties, Gold + Divs @ 9.88% yield
YRR @ 3.5c = EV $7.8m - projects cover - Va, Fe, Ti#
GRM @ 7.5c = EV $7.9m - projects cover - Au, Ag, Cu, Zn Mo
AXE @ 21c = EV $10.3m - projects cover - Cu, Ag, Mn, Fe, REE, U308#
HLX @ 10c = EV $10.7m - projects cover - Fe, Au, Cu, U308#
BAR @ 4.1c = EV $11.6m - projects cover - Au, Ni, Co, Mn#
ARV @ 5.3c = EV $12.5m - projects cover - Au, Ag, REE, U308
RXL @ 5.2c = EV $12.7m - projects cover - Zn,Pb, Ni, Au, Phos#
ORM @ 22c = EV $13.1m - projects cover - REE, Au, U308
SMD @ 20c = EV $15.1m - projects cover - Cu, Au, REE, Mo, Ag, Base#

Still working on the IGV's

I also have updated the 4 negative EV stocks, MFC, MLM, DGR & HRS

[shasta]

shasta,
Have you mentioned IRC before ?

Cant remember either Buns or Denpal put me onto it, & there 6.35m shares in RWD are interesting, not to mention the deal involving KGL (worth $3m to IRC)

Massive JORC Vanadium resource, MGY & YRR off the list also have Vanadium projects (for a good run down on Va, read the RDR thread)

[percy]

Cant remember either Buns or Denpal put me onto it, & there 6.35m shares in RWD are interesting, not to mention the deal involving KGL (worth $3m to IRC)

Massive JORC Vanadium resource, MGY & YRR off the list also have Vanadium projects (for a good run down on Va, read the RDR thread)

Thanks for that, and the EV update.

[denpal]

I've now pulled the pin and jumped into IRC, bottom drawer, EV $2.7M today is just mispricing "par excellence"; I very much like the concept of vanadium batteries now that nuclear is a dirty word once again. Vanadium batteries mean that solar and wind can be viable 24/7 power sources, check it out, will take a few years but the writing is on the wall, the trend potential is there and we have 20Mt of vanadium (which is a huge, huge amount) plus much moly, plus gold. Yes, and EV $2.7M!

[denpal]

Thanks to duncanjones who mentioned PXG! Couldn't believe what I was reading once I looked into it. So I got some of the 20c options just in case they do get the 1.4-1.5Moz Au JORC'd by end-2011. They already have 977koz @ 1.7g/t for an EV of around $10M which is underpriced by a factor of 3 or so.

[duncanjones]

No worries denpal, i am loaded up on the PXGO's as well, definitely worth the 5 or so cents that they are going for at the moment. Very undervalued gold company, especially with the POG steadily increasing!

[shasta]

No worries denpal, i am loaded up on the PXGO's as well, definitely worth the 5 or so cents that they are going for at the moment. Very undervalued gold company, especially with the POG steadily increasing!

Great stuff for posting about PXG on this thread, it does get read & im happy to run the numbers on any stock for the benefit of Sharetrader members

[duncanjones]

Shasta, you say you are staying out of the market at the moment?? Why is that? Worried about a correction??

Interested in hearing your thoughts, is there any set point you are going to jump back in??

[shasta]

Shasta, you say you are staying out of the market at the moment?? Why is that? Worried about a correction??

Interested in hearing your thoughts, is there any set point you are going to jump back in??

No, my personal situation, havent been working for a while & ive reinjured my lower back & probably need surgery

[Aotea]

Over the last couple of weeks, thanks to the solid research efforts of you all, have taken some solid holdings in MOX, HLX, IRC and PXGOA (2014 expiry!!!)...cheers and always appreciated.

[shasta]

Whilst updating the LOW EV List, i decided to narrow down the numbers to those with JORC resources, or near term JORC/compelling story.

I will also update the NEGATIVE EV stocks on there individual threads (MLM, DGR, MFC, HRS)

Will post update later tonight ;)

[shasta]

LOW EV List - Update (# indicates a JORC Resource, ? indicates separate thread already started )

SPQ @ $0.055 x MCap $0.6m? - remains on the list due to its vast exploration projects across many different metals
LCR @ $0.068 x MCap $2.8m#
MOX @ $0.065 x MCap $3.1m? - remains on the list, due to all of its main projects being fully JV funded, + actively drilling
AIV @ $0.052 x MCap $3.3m#
IRC @ $0.15 x MCap $3.9m#
GRM @ 0.045 x MCap $5.0m - remains on the list due to some massive silver grades, & precious metal projects in South America
GMM @ $0.185 x MCap $5.3m? - remains on the list for its exposure to Lithium/Potash, enough cash to complete drilling program
FRY @ $0.24 x MCap $5.6m#?
GES @ $0.15 x MCap $5.8m#?
CZN @ $0.085 x MCap $6.1m#?
PDZ @ $0.16 x MCap $7.5m#?
WCN @ $0.15 x MCap $7.7m - remains on the list due to its focus on Nickel, promising Copper/Gold project & well funded
AXE @ $0.175 x MCap $8.4m#
RCO @ $0.425 x MCap $8.4m? (Physical gold was sold during the qtr, nil held + div yield 4c/42.5c = 9.41 %)
PEX @ $0.13 x MCap $9.5m#?
HLX @ $0.10 x MCap $10.6m#?

[trackers]

Hi shasta,

Love your work, thanks for this. I'm holding MOX and WCN presently, mainly for the strong newsflow expected this quarter. Have held GES, GMM and SPQ but moved on :D

Might have a look at RCO, and check out AIV again.

[drillfix]

Been watching that GRM get totally smashed to pieces to new lows.

CZN also falling off the perch with lack of buys, could do with a personality upgrade on the management side.

Maybe a bounce today from many stocks? Guess we will soon find out.

[percy]

[QUOTE=trackers;344385]Hi shasta,

Love your work, thanks for this. I'm holding MOX and WCN presently, mainly for the strong newsflow expected this quarter. Have held GES, GMM and SPQ but moved on :D

I still in them all.Very well positoned for the upturn?

[Entrep]

GMM looks promising, hasn't been doing very well of late though!! Holding MOX

[shasta]

This week's LOW EV Update (# indicates a JORC resource, all cash figures confirmed by recent quarterlies, & all listed investments updated)

I've culled a few more stocks, really trying to find the very best leveraged plays, mainly cos i'm updating the 4 Negative EV stocks daily & digging into them further.

SPQ @ $0.06 = EV $1.1m
LCR @ $0.06 = EV $2.1m#
IRC @ $0.15 = EV $2.3m#
AIV @ $0.052 = EV $3.3m#
MOX @ $0.066 = EV $3.3m
GMM @ $0.17 = EV $4.5m
GES @ $0.13 = EV $4.7m#
FRY @ $0.24 = EV $5.6m#
CZN @ $0.085 = EV $6.1m#
WCN @ $0.135 = EV $6.7m
RCO @ $0.40 = EV $7.1m (Dividend Yield 10% FF @ 40c)
PEX @ $0.115 = EV $8.1m#
PDZ @ $0.155 = EV $8.8m#
AXE @ $0.20 = EV $10.0m#
HLX @ $0.095 = Ev $10.0m#

Will update the Negative EV stocks on there individal threads

[Waiuta]

I enjoy your posts Shasta and would appreciate how you arrive at an EV for a company. I assume EV = enterprise value and the example given on Investopedia says its
a measure of a company's value, often used as an alternative to straightforward market capitalization. Enterprise value is calculated as market cap plus debt, minority interest and preferred shares, minus total cash and cash equivalents.
I would have thought it was market cap less debt plus cash and cash equivalents.

[shasta]

I enjoy your posts Shasta and would appreciate how you arrive at an EV for a company. I assume EV = enterprise value and the example given on Investopedia says its
a measure of a company's value, often used as an alternative to straightforward market capitalization. Enterprise value is calculated as market cap plus debt, minority interest and preferred shares, minus total cash and cash equivalents.
I would have thought it was market cap less debt plus cash and cash equivalents.

Yes, EV = Enterprise Value

I use the actual number of fully issued shares as per Trading Room & confirm this with the quarterly cashflow (no allowance for options til they are exercised)

So Market Cap less Cash as confirmed by most recent quarterly, less listed investments*, simple calc.

* For listed investments on other exchanges, i use the FX rate as per Findata after the market closes that day.

I update the spreadsheet daily in case of any significant movements, & i adjust for any capital raisings, share buybacks, etc as per any announcement. I also scan for new prospective LOW EV stocks daily (90% dont even make it past just looking at the latest quarterly!)

None of the companies have any debt, that is one of my criteria a stock must pass to make the list, others include, < 200m shares on issue, not a recent listing, im not looking for pure Gold, Uranium or Coal companies, but stocks that cover a few metals, & esp those with a JORC resource (i have made exceptions for SPQ, MOX, WCN, GMM & RCO as i feel these have compelling fundamentals that there share price does not accurately reflect).

I'm looking for stocks that have cash for active drilling campaigns, or JV funding by larger companies, supportive cornerstone shareholders help too, so i want newsflow as i expect the stocks on the list to double its share price within 3 - 12 months

The trick is finding them before the market does,or some media/stockbrokers tip sheet & certainly before Hotcopper goes gaga with it

I only look at those with a Market Cap < $15m, & preferably EV < $10m, once a stock runs past $20m it goes off the list, i dont chase stocks

In addition to the LOW EV stocks, i also follow & update the 4 Negative EV stocks, in MFC, HRS, MLM & DGR - all have there own threads

I should also add, liquidity is a problem with these stocks, & whilst i take care & time to find the correct figures, dont entirely rely on them to be 100% accurate.

These stocks are what i consider "undervalued" others may differ & its no guarantee they will go off , im happy to share my thoughts & research :)

[FarmerGeorge]

Hi Waiuta - EV is PLUS debt MINUS cash but I understand where you're coming from. If you haven't seen it before it can look weird to add debt on to equity.
The concept of EV comes from what sort of resources you'd require to purchase the entire company: You'd need 1) to buy all the shares outstanding (at market value) PLUS 2) Refinance all the debt outstanding (ie pay off the Bank or whoever else lent the company money) MINUS 3) the Cash is subtracted because if you own the company you can use the cash that's already sitting in the company to help you pay for it. Sames goes for investment holdings which the company has in other companies. You also ADD minority interest and the pref shares because you'd have to pay those out as well.
Hope this helps.



I enjoy your posts Shasta and would appreciate how you arrive at an EV for a company. I assume EV = enterprise value and the example given on Investopedia says its
a measure of a company's value, often used as an alternative to straightforward market capitalization. Enterprise value is calculated as market cap plus debt, minority interest and preferred shares, minus total cash and cash equivalents.
I would have thought it was market cap less debt plus cash and cash equivalents.

[Waiuta]

Thank you Shasta and FarmerGeorge for you help. I am also trying to find some software to give me a better TA position than the DirectBroking and Stocknessmonster sites.
I predominantly hold fixed interest instruments but also hold positions in CUE, NGE & SBL and although positive I have watched positions rise then fall when I should be exiting and rebuying.

[Aotea]

Solid results by MOX today....definately something to watch.
Disc: holding

[Aotea]

ECM starting to show some life today too. Some big parcels changing hands...Aquisition of the lithium project must be coming close to completion.
Disc: holding

[JBmurc]

hey shasta did you ever get a chance to do an IGV on HLX has been very unloved on the back of no real news opts to be converted before end of the month should add a couple more million dollars to the kitty, should also have many exploration updates over this qtr

[shasta]

hey shasta did you ever get a chance to do an IGV on HLX has been very unloved on the back of no real news opts to be converted before end of the month should add a couple more million dollars to the kitty, should also have many exploration updates over this qtr

The Gold & Copper assets are easy to value, but im not really up to speed with Iron Ore, just wondering what company i can look at to get a better feel, FMG?

[corporateraider]

The Gold & Copper assets are easy to value, but im not really up to speed with Iron Ore, just wondering what company i can look at to get a better feel, FMG?

Shasta
Have a look on the IOH web site and at the brokers reports there. These will give you an idea on how non producers are valued.
As a rough rule of thumb it is 80c /million tonnes for haemitite.

Hope this helps.

Disc: I hold AGO, IOH, FMS, RAD and MEP as iron ore plays.

[shasta]

Shasta
Have a look on the IOH web site and at the brokers reports there. These will give you an idea on how non producers are valued.
As a rough rule of thumb it is 80c /million tonnes for haemitite.

Hope this helps.

Disc: I hold AGO, IOH, FMS, RAD and MEP as iron ore plays.

Thanks, that gives me something to go on.

Was also thinking AQA given they are JV partners?

[shasta]

WCN - Chinese State Owned Enterprise invests in Kyrgyz Copper-Gold Project JV Partner

http://stocknessmonster.com/news-item?S=WCN&E=ASX&N=541652

I should start a thread for WCN, but after yesterdays 4c rise, this ann is why.

Not just some promising Nickel projects, WCN covers a few projects, mainly JV funded/farm ins, even after yesterdays rise EV still < $10m, & whilst no JORC resource, there projects have enough potential to remain on the LOW EV list.

[shasta]

AXE - Manganese assay results from recent drilling on EL 3711

http://stocknessmonster.com/news-item?S=AXE&E=ASX&N=183096

Handy JV partner to have in OMH (OMH also has Manganese/Iron Ore project with MOX)

AXE in also 10% owned by HRS (one of the Negative EV stocks)

EV < $10m & have $2.9m cash

[shasta]

LOW EV List - Weekly Update (Stocks with # have JORC resources)

SPQ @ $0.047, EV = $0.1m
LCR @ $0.055, EV = $1.7m#
MOX @ $0.06, EV = $2.6m
IRC @ $0.145, EV = $2.7m#
AIV @ $0.048, EV = $2.8m#
GMM @ $0.18, EV = $5.0m
CZN @ $0.075, EV = $5.0m#
FRY @ $0.23, EV = $5.2m#
GES @ $0.155, EV = $6.0m#
PDZ @ $0.15, EV = $6.5m#
PEX @ $0.11, EV = $7.7m#
RCO @ $0.415, EV = $7.9m (Div yield @ 41.5c = ~9.64%)
AXE @ $0.185, EV = $9.0m#
WCN @ $0.175, EV = $9.4m
HLX @ $0.10, EV = $10.7m#

Will update the Negative EV stocks, on individual threads

[shasta]

AIV - EXPLORATION UPDATE – CLONCURRY DISTRICT

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=232010

Interesting map showing IVA (MCap $A1.2b) next door to the AIV/CAP joint venture permits

AIV @ 4.9c has an EV ~$3m with $3m cash, & has main projects in Cu, Co, Ag & Potash

IRC also provides an indirect exposure to AIV with there 4.65m shares, albeit a small one

[shasta]

RXL -Investor Presentation

http://stocknessmonster.com/news-item?S=RXL&E=ASX&N=542260

Interesting Zn, Pb project & Teck Resources are funding the drilling campaign, all other Aussie large Zn projects are owned by majors

Has an interesting phosphate project too, i culled it off the list as it was on the LOW EV cutoff, but one to watch for the zinc bulls

[shasta]

LCR - Lennons Find and Yandicoogina Base Metal Projects Update

http://stocknessmonster.com/news-item?S=LCR&E=ASX&N=542368

Highlights:

 Significant near surface silver values at Lennons Find greatly enhance the project’s potential
 At current commodity prices, equates to a Zinc Equivalent grade of 16% at Lennons Find
 High grade rock chip sampling at Yandicoogina Project confirms its prospectivity for precious and base metals
 Highest values include rock chip assaying 148g/t gold from old gold workings
 Anomalous gold and base metal geochemistry defined overlying the Duffer Formation, host to the Lennons Find Base Metal deposit

About the Lennons Find Base Metal Project
The project contains a JORC Code Inferred Resource of 853,000 tonnes grading 7.7% Zn, 1.8% Pb, 0.7% Cu and 115g/t Ag, at the Hammerhead sulphide zone, and hosts five volcanic hosted massive sulphide (VHMS) style base metals prospects.1

LCR @ $0.05 has an EV of just $1.3m, with $2.8m cash

[shasta]

LOW EV List - Weekly Update (Stocks with # have a JORC resource, new entrants main projects are in bold)

SPQ @ $0.055, EV = $0.7m
LCR @ $0.05, EV = $1.3m#
AIV @ $0.047, EV = $2.7m#
PDM @ $0.026, EV = $2.7m# (New entrant - has projects covering, Au, Cu, Wo, REE, Base metals)
MOX @ $0.067, EV = $3.5m
IRC @ $0.155, EV = $3.9m#
CZN @ $0.065, EV = $4.0m#
HEM @ $0.255, EV = $4.4m# (New entrant - has projects covering, Fe, U308, REE, Base metals)
FRY @ $0.225, EV = $5.0m#
GMM @ $0.19, EV = $5.5m
GES @ $0.155, EV = $6.1m#
PDZ @ $0.17, EV = $6.8m#
WCN @ $0.15, EV = $7.7m
PEX @ $0.11, EV = $7.7m#
RCO @ $0.43, EV = $8.7m - Div yield @ 43c = 9.3% FF
AXE @ $0.21, EV = $10.6m#
HLX $0.095, EV = $10.6m#

[shasta]

LOW EV List - @ 27/5/11 (Stocks with # have a JORC resource, main projects/investments lived , bold stocks are new entrants)

SPQ @ 5.5c, EV = $0.7m - 7m DYL shares, projects cover Base, Ag, U308, Phos - all greenfield exploration projects
LCR @ 4.3c, EV = $0.7m # - projects cover Au, Ag, Fe, REE, U308, Base
AIV @ 4.5c, EV = $2.4m # - projects cover Cu, Ag, Co, Potash
PDM @ 2.5c, EV = $2.5m # - projects cover Au, Cu, Wo, Base, REE
MOX @ 5.9c, EV = $2.6m - 36m MEU shares, projects cover Au, Cu, Fe, Mn, Bax, Base, U308
IRC @ 14c, EV = $3.2m # - 6.35m RWD shares, projects cover Au, Va, Mo, Potash
GES @ 12c, EV = $4.2m # - projects cove Ag, Au, Cu, Mn, Fe
GMM @ 17c, EV = $4.5m - projects cover Li, Potash, Mn, Fe
FRY @ 22.5c, EV = $5.0m # - project cover Base, Ag, Au
HEM @ 26.5c, EV = $5.5m # - 40m AAJ shares, projects cover Fe, U308, Base, REE
AKA @ 12.5c, EV = $5.8m # - projects cover Gypsum#, Kaolin#, Fe, Au, Coal, Mineral Sands & Salt
PEX @ 10c, EV = $6.8m # - projects cover Au, Ag, Wo, Mo, Base
WCN @ 14c, EV = $7.0m - projects cover Ni, Cu, Au, Fe, Mn
PDZ @ 18.5c, EV = $7.0m # - 5m PIR & 5m PIROA shares, projects cover Zn, Pb, Ag, Fe
RCO @ 41c, EV = $7.6m - Royalties, Gold, + exploration projects - Dividend yield @ 41c = 9.76% FF
AXE @ 18c, EV = $8.7m # - Projects cover Cu, Ag, Mn, Fe, REE, U308
HLX @ 9.3c, EV = $10.3m # - projects cover Cu, Ag, Mn, Fe, REE, U308
CZN @ 16c, EV = $13.7m # - projects cover Ni, Cu, Co

[shasta]

LOW EV List - @ 3/6/11 (Stocks with # have a JORC resource, & bold stocks are new entrants)

SPQ @ 5.5c, EV = $0.8m
PDM @ 2.3c, EV = $2.2m (# Tungsten project)
LCR @ 6.8c, EV = $2.8m (# Zn, Pb, Cu, Ag project)
MOX @ 6.4c, EV = $3.4m
HEM @ 24.5c, EV = $3.7m (# Iron Ore project)
GES @ 12c, EV = $4.2m (# Cu, Au, Ag project)
IRC @ 15c, EV = $4.3m (# Au, Va, Mo projects)
AIV @ 4.6c, EV = $4.6m (# Potash project)
GMM @ 17.5c, EV = $4.8m
FRY @ 22.5c, EV = $5.0m (# Cu, Zn, Ag, Au project)
AKA @ 12.5c, EV = $5.8m (# Gypsum, & Kaolin projects)
WCN @ 13.5, EV = $6.7m
PEX @ 9.9c, EV = $6.7m (# Gold project)
PDZ @ 20c, EV = $8.0m (# Base Metal Project)
AXE @ 17.5c, EV = $8.4m (# Magnesite Project)
RCO @ 42.5c, EV = $8.4m (Receives royalties incl Gold ex OGC, dividend yield = 9.41%)
NAE @ 13c, EV = $9.0m (New entrant - projects cover Coal, Fe, Base Metals)
HLX @ 9c, EV = $9.8m (# Iron Ore, Gold & Copper projects)
CZN @20c, EV = $17.8m (# Ni, Cu, Co project) - NB after CZNs' ~200% run the last 2 weeks, it will come off the list next week

[shasta]

LOW EV List - @ 10/6/11 (Stocks with # have a JORC resource, & bold stocks are new entrants)

I've rehashed the list so that only stocks with an EV < $10m qualify, i am especially interested in stocks with JORC resources & large/supportive shareholders or JV partners, & less than 200m shares on issue, I have also reviewed the list & culled some stocks off.

SPQ @ 4.7c, EV = $0.2m - variety of greenfield projects across many different metals
PDM @ 2.3c, EV = $2.2m# - JORC Tungsten project, but mostly about Cu & Au
HEM @ 22c, EV = $2.4m# - JORC Iron Ore project
IRC @ 14c, EV = $2.7m# - JORC Gold & Vanadium projects
MOX @ 6.2c, EV = $3.4m - Promising Copper/Gold & Manganese/Iron Ore JV's
AIV @ 4.7c, EV = $4.8m# - JORC Potash project
PEX @ 8.9c, EV = $5.9m# - JORC Gold projects (341k/oz)
NAE @ 10c, EV = $6.2m - Acquired a couple of interesting Coking & Thermal Coal projects in Colombia
PDZ @ 18c, EV = $6.5m# - JORC Base Metals Zn-Pb-Ag
AKA @ 14c, EV = $7.3m# - JORC Gypsum & Kaolin projects
RCO @ 40.5c, EV = $7.3m - Receives royalties & gold, Div yield is 9.88% FF (@ 40.5c)
AXE @ 17c, EV = $8.1m# - JORC Magnesite resource, + Graphite
ELT @ 23c, EV = $8.6m - High grade Gold/Silver projects in Argentina, over $10m cash
HLX @ 8.8c, EV = $9.5m# - JORC Iron Ore, Gold & Copper projects

[Rodin]

Check out Nemex Resources (NXR).

Market cap of $7.1m, with about $6m in cash.

Looks like it may have stumbled onto a decent sized DSO iron ore deposit in at its Guinea project (potentially 100m tonnes @ 60% Fe+). Also has 2 projects in WA prospective for DSO grade ore.

[denpal]

Hey shasta well spotted with ELT, it's on my watchlist just waiting for the right time to hoover up some shares!!!!!!!!! I first spotted them at 35c a few months back, luckily I didn't buy them then........PXG that someone mentioned here a while back is also PM sector, still very good value but EV is probably above your cutoff now.

[trackers]

Check out Nemex Resources (NXR).

Market cap of $7.1m, with about $6m in cash.

Looks like it may have stumbled onto a decent sized DSO iron ore deposit in at its Guinea project (potentially 100m tonnes @ 60% Fe+). Also has 2 projects in WA prospective for DSO grade ore.

A bit of sovereign risk but still, looks interesting - cheers..

[shasta]

Check out Nemex Resources (NXR).

Market cap of $7.1m, with about $6m in cash.

Looks like it may have stumbled onto a decent sized DSO iron ore deposit in at its Guinea project (potentially 100m tonnes @ 60% Fe+). Also has 2 projects in WA prospective for DSO grade ore.

Thanks for the heads up on NXR, but doesn't seem as advanced as HEM with its Iron Ore projects

Two LOW EV stocks with anns today:

PDM - RC Drilling commences at Frogmore copper project

http://stocknessmonster.com/news-item?S=PDM&E=ASX&N=637523

RXL - EXPLORATION UPDATE (On 3 main projects, Gold/Nickel, Zinc/Lead/Silver & Phosphate)

http://stocknessmonster.com/news-item?S=RXL&E=ASX&N=545259

[evilroyrule]

hey shasta,

not sure if anp made your list, but i am in at 1cent. thanks also for your replies re Ni, i am still doing background. will let you knw in anything interesting pops up

[Corporate]

shasta, what about adding OXX to the list. Or is this just miners?

[Entrep]

Check out ARM - pretty sure it has more cash than MC

[shasta]

hey shasta,

not sure if anp made your list, but i am in at 1cent. thanks also for your replies re Ni, i am still doing background. will let you knw in anything interesting pops up

I'll have a look into it & let you know, im not just adding in any LOW EV stock, i'm filtering to find the ones with the most potential

cheers ERR

[shasta]

shasta, what about adding OXX to the list. Or is this just miners?

I havent added in any O&G companies, but i'm always looking for options in that sector, will have a dig into them

Maybe if i have the time i'll start an O&G spreadsheet ;)

Thanx Corporate

[shasta]

Check out ARM - pretty sure it has more cash than MC

Will put it thru the usual LOW EV criteria & let you know

Cheers

[shasta]

HEM - Mines & Money Presentation - Bejing

http://stocknessmonster.com/news-item?S=HEM&E=ASX&N=545430

Small JORC Iron Ore resource, but has a few Iron Ore projects & outlines the timeline to production in 2013

Busy drilling activity during 2011 should help provide constant newsflow, & there are other non Iron Ore projects.

Well funded with $10m, EV just $2.4m @ 22c as HEM also owns 40m shares in AAJ (61% of AAJ)

HEM looks a decent bet for some good share price growth in 2011, given its low EV

[Corporate]

I havent added in any O&G companies, but i'm always looking for options in that sector, will have a dig into them

Maybe if i have the time i'll start an O&G spreadsheet ;)

Thanx Corporate

I've got a spreadsheet on OXX. I'm not sure if we can add attachments (other than charts) to this forum?

[drillfix]

I've got a spreadsheet on OXX. I'm not sure if we can add attachments (other than charts) to this forum?


We sure can there Corp.

When you click Reply, choose the GO ADVANCED option and you will see a choice to add images, URL, or a paper clip attachement icon above the others which you can upload a file of a certain size.

Hope that helps mate :)

[Corporate]

We sure can there Corp.

When you click Reply, choose the GO ADVANCED option and you will see a choice to add images, URL, or a paper clip attachement icon above the others which you can upload a file of a certain size.

Hope that helps mate :)

Thanks Drill - the spreadsheet is on my personal computer so I'll try and put it up next time I'm on.

Cheers

[shasta]

Thanks Drill - the spreadsheet is on my personal computer so I'll try and put it up next time I'm on.

Cheers

I'd be keen to see that, Corporate

In addition to updating the low & negative ev companies, i'm trying to find 4 stocks as part of a fundamental based portfolio for the next 2 years

1 - Covering Bulk commodities, Coal, Iron Ore & Manganese (already identified this stock, AQA)
2 & 3 - Base metals/Precious Metals (have 4 companies in mind, but only 2 will be selected)
4 - An O&G stock (default option is OEL that i know very well, but ill look into others)
5. A stock from the low ev list to trade solely using TA, or else a "special situation" type play (need some short term "fun" in the portfolio)

Dont feel the need to diversify beyond 5 stocks

[shasta]

Hey Shasta,

For number 5

I highly recommend reading the "entire" E book Entrep linked, it is very good, just ignore focusing to heavily on the marketing of the software and the so called market manipulation parts and focus most on the education within which explains how price and volume movement can give very strong indications of upcoming movements via Supply and demand before it happens.

http://vsa.pipbuilders.com/mtmv3.pdf

I recommend everyone here on share trader read it, while its linked.

AA

Appreciate that thanks, i've been learning a bit about Candlesticks, from what Drillfix posted a while back.

Always keen to learn more about charting, i dont intend actively trading, but will use a separate a/c to differentiate investments from trading

[JBmurc]

i'd be keen to see that, corporate

in addition to updating the low & negative ev companies, i'm trying to find 4 stocks as part of a fundamental based portfolio for the next 2 years

1 - covering bulk commodities, coal, iron ore & manganese (already identified this stock, aqa)
2 & 3 - base metals/precious metals (have 4 companies in mind, but only 2 will be selected)
4 - an o&g stock (default option is oel that i know very well, but ill look into others)
5. A stock from the low ev list to trade solely using ta, or else a "special situation" type play (need some short term "fun" in the portfolio)

dont feel the need to diversify beyond 5 stocks

2/3-hlx,cfe
4-ssn

[trackers]

^ Looks like Shasta's AQA own ~5% of HLX too :)

In the middle of reading that price/volume pdf AA, quite interesting thanks

[duncanjones]

What are your thoughts on KRE??

Also SMD is a great buy at current levels!

[Corporate]

sorry shasta, I'll have to put some details up on OXX over the weekend. Flat out with work at the moment. Why do you like AQA - always interested to read your thoughts.

Cheers
C

[shasta]

What are your thoughts on KRE??

Also SMD is a great buy at current levels!

If KRE is the Rare Earth spin out of NAV, JBMurc is ya man to answer that, afraid i havent come across it, or looked into it.

[shasta]

sorry shasta, I'll have to put some details up on OXX over the weekend. Flat out with work at the moment. Why do you like AQA - always interested to read your thoughts.

Cheers
C

Cheers for the OXX summary, look forward to that

AQA covers the bulk commodities of Coal, Iron Ore & Manganese - Has Coal in production already, & some large projects in the pipeline.

At around $A3b MCap, it's not a small spec, but i'm not looking for spec's, but mid cap producers as mid/long term (min 2 years) "investments".

I've identified the 4 stocks i'm looking to invest into, & for me updating the negative/low ev stocks was no more than a side interest, to find & monitor ~15 undervalued resource spec's with a few metals, that have the potential to double in a short space of time (ie CZN went from 6.5c to > 20c within a week).

Due to my lower back injury, i've had plenty of time on my hands, & am happy to update the spreadsheets to keep up with the spec end of the market, & post my findings "exclusively" to ShareTrader :) (I do not post on any other forum!)

I'll be in a position to re-enter the market soon, & simply won't have the time to monitor the sheer number of stocks i do on a daily basis.

The 5th stock was always going to be a pure TA play off the LOW EV list, to add some risk/reward into the mix.

I will continue to update the Low/Negative EV threads, during the weekends, im just not spending as much time looking for new additions anymore.

Will suss out any stocks mentioned on this thread by others though ;)

[gazprom1]

Thanks for the good work Shasta...one of the best threads on ST. The biggest problem I have with the Low EV list is that most if not all of them will need capital in the future to develop their projects. If that capital is required in the short term then it could be difficult. For me it is time to be a little more conservative and buy companies that have funded projects and/ or are producing free cashflow....no need for them to go to the market for capital. However, I would like to be in several of the Low EV companies when the market sentiment changes!!!

Gazprom

[shasta]

Thanks for the good work Shasta...one of the best threads on ST. The biggest problem I have with the Low EV list is that most if not all of them will need capital in the future to develop their projects. If that capital is required in the short term then it could be difficult. For me it is time to be a little more conservative and buy companies that have funded projects and/ or are producing free cashflow....no need for them to go to the market for capital. However, I would like to be in several of the Low EV companies when the market sentiment changes!!!

Gazprom

Thanx Gaz

These stocks have been filtered as i try to find the ones with cash/listed investments or those with JV partners funding the projects.

I also look for stocks with tight capital structures, so if anyone does like the stock, they can potentially receive options when capital is required.

Will update the list tonight/over weekend, but HEM, ELT & RCO all have > $10m cash, & PDM at $1.2m has the least cash.

[JBmurc]

If KRE is the Rare Earth spin out of NAV, JBMurc is ya man to answer that, afraid i havent come across it, or looked into it.

KRE is near to cash banking so wouldn't think it would get much cheaper not many pure Rare Earth plays in the market which looks to be tight supply wise till 2013-14
biggest problem is the fact that it's basicly NAV mgmt running KRE which isn't good..as they are doing their best to shaft NAV shareholders at this stage

-KRE would be good once they own cummin range outright an cut their ties to NAV mgmt ....

[shasta]

PEX - STRONG IP ANOMALIES AT RUBY SILVER

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=545569

Commenting on the results Peel Managing Director Rob Tyson said: “These positive IP results will aid in our planning for upcoming drilling. The strength, length, and of the chargeable anomalies are greater than initial expectations and we now look forward to drill testing accordingly.”

Looking forward to seeing these results, very high grade silver has been mined in the past

[shasta]

HEM - HEMISPHERE RESOURCES CORPORATE STRATEGY

http://stocknessmonster.com/news-item?S=HEM&E=ASX&N=545571

With a small, but particularly high-grade and low-contaminant iron-ore Indicated Resource at Yandicoogina South, and against the backdrop of continuing strong demand both regionally and in Chinese and Asian markets for high-grade product, we have mapped a clear path to target first production at Yandicoogina South from 2013.

A good read on how they intend to monetise this small JORC project, alot to like with HEM

[drillfix]

Thanks for the good work Shasta...one of the best threads on ST. The biggest problem I have with the Low EV list is that most if not all of them will need capital in the future to develop their projects. If that capital is required in the short term then it could be difficult. For me it is time to be a little more conservative and buy companies that have funded projects and/ or are producing free cashflow....no need for them to go to the market for capital. However, I would like to be in several of the Low EV companies when the market sentiment changes!!!

Gazprom

Excellent post there Gaz, and yes excellent work from Shasta too for maintaining such thread.

Would be great to be able to have some filtration system so we can then add some type of Risk Ruler with and without cash next to a current Market Sentiment ruler to gauge a logical Probability Score % if such thing exists.

At present the way things are going, to me its like playing hit and run to the best of our abilities without getting your hand or arm taken off in the process.

[shasta]

Excellent post there Gaz, and yes excellent work from Shasta too for maintaining such thread.

Would be great to be able to have some filtration system so we can then add some type of Risk Ruler with and without cash next to a current Market Sentiment ruler to gauge a logical Probability Score % if such thing exists.

At present the way things are going, to me its like playing hit and run to the best of our abilities without getting your hand or arm taken off in the process.

I'll add in the cash on hand as well as EV (cash as per 31 march quarterly, or lastest known figure) - but of course cash will have been used for admin/exploration costs during the qtr so u need to factor that in. I don't add in capital raisings into the cash figure until the # of shares are actually issued (so there's no net difference to the EV).

Drilly, i'm quite happy with the existing 15 LOW EV stocks that i currently monitor & wont be adding in any more as i feel theres enough variety in there to cover the resource sector, so i will add in IGV calc's on JORC resources & monitor each one a little closer & try to rank them on say an EV/IGV basis.

It's all a bit subjective, but now i'll focus on those 15 stocks alot closer, rather than continue to scan for more.

I'll see what i come up with & can add in other criteria as i go. (I had thought about "adding" a valuation of 1% of IGV on a JORC resource in an attempt to value JORC projects, so when subtracted from the EV would effectively value the non JORC projects, or else show a negative EV).

I'll have a play this weekend over a standard template & see where it leads ;)

[JBmurc]

Excellent post there Gaz, and yes excellent work from Shasta too for maintaining such thread.

Would be great to be able to have some filtration system so we can then add some type of Risk Ruler with and without cash next to a current Market Sentiment ruler to gauge a logical Probability Score % if such thing exists.

At present the way things are going, to me its like playing hit and run to the best of our abilities without getting your hand or arm taken off in the process.

yes I agree I know HLX has between 5mill-5.5mill now after the opts extra funding

[Waiuta]

I'd be interested in your thoughts on SBL, Shasta. Production at last but SP declining! Have held for some time and can't fathom it out with informative reporting.
http://www.stocknessmonster.com/news-item?S=SBL&E=ASX&N=545417

[shasta]

I'd be interested in your thoughts on SBL, Shasta. Production at last but SP declining! Have held for some time and can't fathom it out with informative reporting.
http://www.stocknessmonster.com/news-item?S=SBL&E=ASX&N=545417

OK, the bad news first! :(

1. 2.3b shares on issue! (Needs to be tidied up maybe a 1:10 consolidation)
2. The presentation highlights past production at 11.8 g/t, yet the average grade of there JORC resource is just under 2 g/t!
3. No substantial shareholder with a 10% + blocking stake, open to take over?
4. From my quick scan, they seem a little vague about Gold production targets?
5. Mgmt dont seem to have much money personally invested, $ or % wise.
6. About a 1/3 of the capital raising went on placement fees & working capital, seems like they are mining shareholders pockets!


The not so bad stuff ;)

1. MCap @ ~$45m isnt too demanding
2. Recent RC drilling program has tapped into a higher grade area, needs more drilling to confirm this, but encouraging.
3. First pour mentioned for April, & announced June given its within the same quarter, they have achieve what there last presentation said
4. $8.7m cash - as per last quarter, meant to cover 1st 3 months of production

Cant vouch for any of the Mgmt/Board - perhaps my question should be to you, what do you LIKE about SBL?

I could rattle off a host of decent Gold producers

[Corporate]

Alright, finally some time to sit down and write a few notes on OXX. Then I lost the entire post because my computer wanted to do a window update! Talk about frustrating, so here we go again

First things first - EV

Tinker: OXX & OXXCA
Share price: 26c
Fully paid OXX: 151,204,399
Partially paid* OXXCA: 75,201,909
Total shares on issue: 226,406,308
Fully diluted market capitalisation: $58,865,640

Cash, investments, uncalled capital & receivables#

Cash $24,000,000
Investments $14,000,000 (CUE & MOG)
Receivables $7,000,000 (Santos farmin)
Uncalled capital 31/12/11 $7,520,191
Uncalled capital 31/12/12 $7,520,191
Total $60,040,382

EV: negative $1,174,741

Now what do you get for you negative EV of $1m...

Dampier Sub-Basis WA 323 & WA 330
This permit has proven hydrocarbons and is subject to a farm in with Santos who are taking 75% and leaving OXX with 25%. This is in return for reimbursed back costs of $7m, a free carry on additional 3D seismic and one well.

The Winchester prospect is large with scope to be liquids rich and is on the same tread as the recent Zola discovery (also by Santos). Drilling is expect in 2012.

Check out the most recent presentation. The permits is in elephant country!

Taranaki Basin - PEP 51906
OXX recently picked up this large permit which runs between Maui, Tui and Maari. Not suprisingly this was quickly farmed out to OMV. OMV have reimbursed NZ$1m, are funding 3D and 2D seismic over certain prospects and must commit to a well by November 2012. OMV are funding all costs of the permit and OXX's 100% share will reduce to 35% if OMV drill a well.

What a partner to snag in OMV. They have 69% of Maari, 10% of Maui, and 26% of Pohokura, all situated in the taranaki basin. They are huge operators and have infrastructure to tie in any discoveries quickly.

It is also interesting to note that in CUE's most recent presentation (5% of Maari) that they have identified a prospect called Maari South. I wouldn't be surprised if the OMV lead joint venture drill a few more wells in 2012/13 including Maari South, may be a few more production wells in Manaia and while they are at it one for OXX.

Blackbird & Hornet - WA 329 (OXX 100%)

These prospects really blind-sided me in the most recent presentation. Although it should be noted that OXX have lodged an application for renewal which is not yet granted.

However, these are very exciting prospects as they sit right on trend of some very nice discoveries (Zola). OXX state that the farmout process is attracting substantial interest and is well advanced.

They are talking multi TCF for each prospect, with associated condensate.

I'd like to see Santos build in the relationship they already have with OXX and farm in to this permit, but we will see.

Cornea WA 342 (OXX 18.75%)

There have been a few well drilled which have encounter oil and OXX are talking a contingent resource of more than 60mboe. It isn't a straightforward discovery.

OXX are currently discussing a way to develop the field and I would expect they will farm down their share for free carry on further drilling.

More to come later...Shell, CUE, Boneparte Gulf & OXX vs OXXCA.


*partially paid shares - 5c paid, 10c due on 31 December 2011 & 10c due on 31 December 2012.

#liquid assets taken from the most recent presentation dated 9 June 2011

[shasta]

Thanx for that Corporate certainly looks promising, but all O&G companies talk up there prospects & chances of success!

The OMV & STO tie in certainly adds some credibility to there permits, especially to drill in elephant country.

Any drilling due 2nd half 2011?

I'm still looking at OEL as my stock to cover the O&G sector, as it's in production (net ~1,300 bopd @ Galoc) & BHP are onboard for a deep water permit in Phillipines

Will add OXX to the O&G watchlist though :)

[shasta]

Low EV - Update for the week ending 17/6/11 (stocks with # have a JORC resource)

SPQ @ 4.5c, EV = $0.3m (Cash 31/3/11 = $2.3m, + 7m DYL shares)
HEM @ 21.5c, EV = $1.6m# (Cash @ 31/3/11 = $10.3m, + 40m AAJ shares)
MOX @ 5.5c, EV = $2.4m (Cash 31/3/11 = $3.8m, + 36m MEU shares)
PDM @ 2.8c, EV = $3.0m# (Cash 31/3/11 = $1.2m)
IRC @ 14c, EV = $3.4m# (Cash 31/3/11 = $4.1m, 6.35m RWD, KGLT/O*, 4.65m AIV shares)
NAE @ 7.9c, EV = $4.2m (Cash 31/3/11 = $3.4m)
AIV @ 4.5c, EV = $4.4m# (Cash 31/3/11 = $3.0m)
PEX @ 8.7c, EV = $5.7m# (Cash 31/3/11 = $2.0m)
AKA @ 13c, EV = $6.3m# (Cash 31/3/11 = $6.8m)
ELT @ 21c, EV = $6.5m (Cash 31/3/11 = $10.8m)
RCO @ 40.5c, EV = $7.3m (Cash 31/3/11 = $14.0m**, Div yield @ 40.5c = 9.88% FF)
RXL @ 3.4c, EV = $7.4m# (Cash 31/3/11 = $4.5m)
PDZ @ 19c, EV = $8.1m# (Cash 31/3/11 = $2.1m, + 5m PIR & 5m PIROA shares)
HLX @ 8c, EV = $9.5m# (Cash 31/3/11 = $5.7m***, + 4m GCY shares)
AXE @ 18c, EV = $8.7m# (Cash 31/3/11 = $2.9m)

Key:
* - KGL T/O of unlisted Jinka Minerals = $2.94m, proceeds not added to cash yet (but subtracted from EV)
** - Cash balance increased as Gold ex OGC was sold during Qtr, nil Gold held @ 31/3/11
*** - Edited for additonal shares & capital raised, thanks JBMurc ;)

Will start developing a standard template for these 15 stocks, & add in more data re IGV's, EV/IGV calc's etc

[JBmurc]

here's HLX ann. opts converted raising $2,224,103.34

http://www.helix.net.au/aurora/assets/user_content/File/110608App3b.pdf

[shasta]

here's HLX ann. opts converted raising $2,224,103.34

http://www.helix.net.au/aurora/assets/user_content/File/110608App3b.pdf

Cheers for that i have made the adjustments :)

[Corporate]

Thanx for that Corporate certainly looks promising, but all O&G companies talk up there prospects & chances of success!

The OMV & STO tie in certainly adds some credibility to there permits, especially to drill in elephant country.

Any drilling due 2nd half 2011?

I'm still looking at OEL as my stock to cover the O&G sector, as it's in production (net ~1,300 bopd @ Galoc) & BHP are onboard for a deep water permit in Phillipines

Will add OXX to the O&G watchlist though :)

No worries shasta. There is not likely to be any drilling this year but that doesn't phase me. It's a 2 year hold minimum.

2012 is going to be huge for OXX with CUE also drilling Caterina and Mataraki.

[Waiuta]

Thank you for your response Shasta, I was starting to think shareholders were being sucked and was unaware of some basic fundamentals. Thanks again

[shasta]

Thank you for your response Shasta, I was starting to think shareholders were being sucked and was unaware of some basic fundamentals. Thanks again

No worries the two gold stocks i like have already/are to be taken over, have held LGL before & i like GDO but they look like being taken over at 55c.

Have a look a MUX, not in production but a big gold/copper resource, that was spun out of KZL, else OGC/RSG as a mid tier gold producers

[JBmurc]

I'd be keen to see that, Corporate

In addition to updating the low & negative ev companies, i'm trying to find 4 stocks as part of a fundamental based portfolio for the next 2 years

1 - Covering Bulk commodities, Coal, Iron Ore & Manganese (already identified this stock, AQA)
2 & 3 - Base metals/Precious Metals (have 4 companies in mind, but only 2 will be selected)
4 - An O&G stock (default option is OEL that i know very well, but ill look into others)
5. A stock from the low ev list to trade solely using TA, or else a "special situation" type play (need some short term "fun" in the portfolio)

Dont feel the need to diversify beyond 5 stocks


Been thinking about your post here Shasta that and the massive sell-off of the jnr ASX market an many of my shares has made me start to think about what companies I really would like to be part of longer term now some I already hold others I think have just fell to stupid values...Now like yourself I'm after strong well funded fundamental strong in the right sectors to make very high R.O.I
IMHO I think these 6 companies/resource sectors will suit me best..(currently I hold 8)

sectors/focus company...... interests est cash------marktcap

1#-Bulk commondites----CFE..Iron ore,copper,base metals,gold -- 150m 228m
2#-Energy play-----------ACB......U308 15m 40.5m
3#-Oil&GAS producer----SSN........USA shale oil gas 65m 224m
4#-Explorer metals-------HLX........Iron ore,gold,copper 5.7m 13.6m
5#-SILVER play----------CCU........Silver,lead 45m? 123.6m
6#-Gold producer-------TRY,OGC,NAV ?? (don't know yet )

[shasta]

Been thinking about your post here Shasta that and the massive sell-off of the jnr ASX market an many of my shares has made me start to think about what companies I really would like to be part of longer term now some I already hold others I think have just fell to stupid values...Now like yourself I'm after strong well funded fundamental strong in the right sectors to make very high R.O.I
IMHO I think these 6 companies/resource sectors will suit me best..(currently I hold 8)

sectors/focus company...... interests est cash------marktcap

1#-Bulk commondites----CFE..Iron ore,copper,base metals,gold -- 150m 228m
2#-Energy play-----------ACB......U308 15m 40.5m
3#-Oil&GAS producer----SSN........USA shale oil gas 65m 224m
4#-Explorer metals-------HLX........Iron ore,gold,copper 5.7m 13.6m
5#-SILVER play----------CCU........Silver,lead 45m? 123.6m
6#-Gold producer-------TRY,OGC,NAV ?? (don't know yet )

The spec end of the market will struggle to attract capital if there is another global crisis, the number of spin offs hitting the market shows this, as companies try to attract new capital while they can. Actual quality & large listings are fairly quiet.

Companies i'm looking at are:

Bulk Commodities - AQA (Covers coal, iron ore, manganese)
O&G - OEL - (in production with Galoc & BHP now onboard, strong foothold in Phillipines)
Base/Precious Metals - KZL & PAN (primarily Zinc & Nickel respectively - but both have other base/precious metals, esp KZL's interest in MUX)

Had it not been for the Japan nuclear problem i would definitely have gone with ACB for the #5 Uranium/Non hydorcarbon energy slot.

But i'll use slot # 5 to trade stocks on the LOW EV List - so many look cheap in the market, but not many vastly undervalued "quality" specs left.

Off the list - MOX/RXL & HLX probably standout to me.

I cant understand why MOX is getting sold off other than general market sentiment, certainly no fundamental reason for it!
RXL has a large Zinc/Lead project that Teck are putting $15m into, Zinc looks important to me over the next 2 years as supply drys up
HLX - When the Iron ore project gets sorted this should fly, MCap easily justified by its Gold or Copper assets

[shasta]

Quick Update - HEM

Due AAJ's share price today moving from 8 to 11c, HEM's 40m shares are worth $4.4m (the increase was on tiny volume, so it may not hold the gains)

HEM @ $0.215 has an MCap of 15.1m
- Cash @ 31/3/11 of $10.3
- 40m AAJ shares worth $4.4m

EV is just $0.4m - for all those Iron Ore projects, including a JORC resource (albeit a small high grade one)

There are some base metal, uranium & rare earth projects/interests, plus gold projects indirectly via ASX:AAJ*

* HEM's 40m shares in AAJ, whilst worth just $4.4m represents 61% of the shares on issue, so HEM have control of AAJ

[duncanjones]

Have a look into KDR, very low cap and released some high grade, shallow copper results yesterday which at a market cap of $11m-$14m are outstanding in my opinion. 15 drill holes to be released in the next two weeks.

[shasta]

Have a look into KDR, very low cap and released some high grade, shallow copper results yesterday which at a market cap of $11m-$14m are outstanding in my opinion. 15 drill holes to be released in the next two weeks.

Cheers Duncan, will have a look tonight ;)

[shasta]

Quick Update - HEM

Due AAJ's share price today moving from 8 to 11c, HEM's 40m shares are worth $4.4m (the increase was on tiny volume, so it may not hold the gains)

HEM @ $0.215 has an MCap of 15.1m
- Cash @ 31/3/11 of $10.3
- 40m AAJ shares worth $4.4m

EV is just $0.4m - for all those Iron Ore projects, including a JORC resource (albeit a small high grade one)

There are some base metal, uranium & rare earth projects/interests, plus gold projects indirectly via ASX:AAJ*

* HEM's 40m shares in AAJ, whilst worth just $4.4m represents 61% of the shares on issue, so HEM have control of AAJ

HEM is now showing up with a negative EV, after todays drop to 20c!

The actual cash position will be lower, when the quarterly shows how much was spent, but the market isnt attributing ANY value to HEM's Iron Ore projects!

[shasta]

Update on some LOW EV stocks announcements

ELT - GEOPHYSICS DELINEATES NEW TARGETS AT MANANTIALES

http://stocknessmonster.com/news-item?S=ELT&E=ASX&N=232787

AXE - Several Coarse Flake Graphite Occurrences Recorded on Wildhorse Plains

http://stocknessmonster.com/news-item?S=AXE&E=ASX&N=183446

[shasta]

Have a look into KDR, very low cap and released some high grade, shallow copper results yesterday which at a market cap of $11m-$14m are outstanding in my opinion. 15 drill holes to be released in the next two weeks.

KDR has roughly 42.5m shares so @ 44c MCap = ~$18.7m & had cash of $3.5m @ 31/3

EV is ~$15.2m.

I've reduced the cap to EV < $10m for the list, but some great copper grades, gold & some REE's to boot.

I have enough Copper/Gold & REE companies on the list, but certainly looks a decent explorer if they strike more high grade copper.

Will keep an eye on KDR though, cheers for bringing this to my attention

[trackers]

Have a look into KDR, very low cap and released some high grade, shallow copper results yesterday which at a market cap of $11m-$14m are outstanding in my opinion. 15 drill holes to be released in the next two weeks.

Another nice find DJ, cheers.. I've been following YTC's Nymagee closely, which could be CSA-like, so this is close to home for me. If KDR find any big zones of Zn-Pb-Ag I'll be buying this in a big way.....

CSA is characterised by surface leached of copper, followed by massive low grade copper halo surrounding narrow steep plunging zones of very high grade copper (with silver/gold credits)... Also pocket zones of high grade Zn-Pb-Ag.

If this is CSA-like, their current 100metres of base metal hits could extend as far as 2,000 metres......

Looks like I'm going to have to free up some funds lol....

[trackers]

Good call, again, duncan... I was keen to get some KDRO's today at 21c but ASB didn't have it loaded as a tradeable stock.... By the time I'd sorted them out I had to pay 22.5c. Sigh. Worth it though.

Now just need PXG to sort its act out

[denpal]

Here's an interesting one: VKA.

69.2M FPO's @ 16c = MC $11M - cash @ 30/6/11 $5M = EV $5.4M

For that you get 500,000 oz gold JORC'd as inferred @ 1.2g/t which is OK on Ghana.

Target 1M oz this year, drilling now.

Under the radar. Directors are pretty seasoned with lots of experience, eg John Gardner was a director and GM of Minproc and established their operations in Ghana where they became the leading mining engineers, responsible for 60 gold processing plants. He's also been a director of Mincor since its inception in 1995.

I bought some today at 15.5c, rather than even more PXGO's although I still have an order in for the latter in case anyone wants out!

[shasta]

Low EV - Update for the week ending 24/6/11 (stocks with # have a JORC resource)

SPQ @ 5.2c, MCap $4.0m, Cash $2.3m, Listed Investments (DYL) $1.0m, EV = $0.7m
HEM @ 21.5c, MCap $15.1m, Cash $10.3m, Listed Investments (AAJ) $3.6m, EV = $1.2m#
MOX @ 5.0c, MCap $7.4m, Cash $3.8m, Listed Investments (MEU) $2.0m, EV = $1.6m
PDM @ 2.5c, MCap $3.7m, Cash $1.2m, Listed Investments - Nil, EV = $2.5m#
IRC @ 14c, MCap $16.1m, Cash $4.1m, Listed Investments (RWD, KGL, AIV) $8.8m, EV = $3.2m#
AIV @ 4.0c, MCap $6.6m, Cash $3.0m, Listed Investements - Nil, EV = $3.6m#
PEX @ 8.7c, MCap $7.6m, Cash $1.9m, Listed Investments - Nil, EV = $5.6m#
AKA @ 13c, MCap $13.1m, Cash $6.8m, Listed Investments - Nil, EV = $6.3m#
RCO @ 39c, MCap $20.6m, Cash $14.0m, LI- Nil, Gold held - Nil, EV = $6.6m (Div yield = 10.26% FF @ 39c)
AXE @ 15c, MCap $9.7m, Cash $2.9m, Listed Investments - Nil, EV = $6.8m#
RXL @ 3.3c, MCap $11.6m, Cash $4.5m, Listed Investments - Nil, EV = $7.1m#
PDZ @ 17.5c, MCap $13.3m, Cash $2.1m, Listed Investments (PIR/OA) $4.1m, EV $7.1m#
ELT @ 23c, MCap $18.9m, Cash $10.8m, Listed Investments -Nil, EV = $8.1m
HLX @ 7.9c, MCap $16.1m, Cash $5.7m, Listed Investments (GCY) $0.9m, EV = $9.5m#

[shasta]

ELT - Investor Presentation

http://stocknessmonster.com/news-item?S=ELT&E=ASX&N=232948

Interesting Base & Precious metal exploration company with projects in Australia & Argentina/Chile (reminds me of TRY & HLX's South America projects)

Some high gold & silver grades in Argentina prompted my interest, & EV < $10m, & very well funded, with a busy 2011 drilling program

[trackers]

Good call, again, duncan... I was keen to get some KDRO's today at 21c but ASB didn't have it loaded as a tradeable stock.... By the time I'd sorted them out I had to pay 22.5c. Sigh. Worth it though.

Now just need PXG to sort its act out

Up to 29.5c - Whats your next pick duncan? Strong strike rate to date :D

I've booked a wee bit of profit today to hedge against average or delayed drilling results (which I think is probably unlikely but best to be safe)

[duncanjones]

CBZ - even though its up to 64c. Biotech but word on the 'street' is you would be wise to buy on Monday. I will be topping up my holding. Cant really say too much more but it should be over $1 in a few weeks.

[shasta]

Low EV - Update for the week ending 1/7/11 (stocks with # have a JORC resource)

SPQ @ 5.0c, MCap $3.8m, Cash = $2.3m, LI = $1.1m, EV = $0.4m
IRC @ 13c, MCap $14.9m, Cash = $4.1m, LI = $9.0m, EV = $1.8m#
PDM @ 2.3c, MCap $3.4m, Cash = $1.2m, LI = Nil, EV = $2.2m#
MOX @ 5.5c, MCap $8.1m, Cash = $3.8m, LI = $2.1m, EV = $2.3m
HEM @ 25.5c, MCap $17.9m, Cash = $10.3m, LI = $4.0m, EV = $3.6m#
AIV @ 5.0c, MCap $8.3m, Cash $3.0m, LI = Nil, EV = $5.3m#
AKA @ 12c, MCap $12.1m, Cash = $6.8m, LI = Nil, EV = $5.3m#
RCO @ 37.5c, MCap $19.8m, Cash = $14.0m, LI = Nil, EV = $5.8m (Div Yield = 10.67% FF!)
PEX @ 9.1c, MCap $8.0m, Cash = $2.0m, LI = Nil, EV = $6.0m#
RXL @ 3.1c, MCap $10.9m, Cash = $4.5m, LI = Nil, EV = $6.4m#
PDZ @ 17.5c, MCap $13.3m, Cash = $2.1m, LI = $4.4m, EV = $6.8m#
ELT @ 22.5c, MCap $18.5m, Cash = $10.8m, LI = Nil, EV = $7.7m
AXE @ 17.5c, MCap $11.3m, Cash = $2.9m, LI = Nil, EV = $8.4m#
HLX @ 7.7c, MCap $15.7m, Cash = $5.7m, LI = $1.0m, EV = $9.0m#

NB, Actual cash balances will be adjusted when announced in the quarterlies

[Corporate]

Low EV - Update for the week ending 1/7/11 (stocks with # have a JORC resource)

SPQ @ 5.0c, MCap $3.8m, Cash = $2.3m, LI = $1.1m, EV = $0.4m
IRC @ 13c, MCap $14.9m, Cash = $4.1m, LI = $9.0m, EV = $1.8m#
PDM @ 2.3c, MCap $3.4m, Cash = $1.2m, LI = Nil, EV = $2.2m#
MOX @ 5.5c, MCap $8.1m, Cash = $3.8m, LI = $2.1m, EV = $2.3m
HEM @ 25.5c, MCap $17.9m, Cash = $10.3m, LI = $4.0m, EV = $3.6m#
AIV @ 5.0c, MCap $8.3m, Cash $3.0m, LI = Nil, EV = $5.3m#
AKA @ 12c, MCap $12.1m, Cash = $6.8m, LI = Nil, EV = $5.3m#
RCO @ 37.5c, MCap $19.8m, Cash = $14.0m, LI = Nil, EV = $5.8m (Div Yield = 10.67% FF!)
PEX @ 9.1c, MCap $8.0m, Cash = $2.0m, LI = Nil, EV = $6.0m#
RXL @ 3.1c, MCap $10.9m, Cash = $4.5m, LI = Nil, EV = $6.4m#
PDZ @ 17.5c, MCap $13.3m, Cash = $2.1m, LI = $4.4m, EV = $6.8m#
ELT @ 22.5c, MCap $18.5m, Cash = $10.8m, LI = Nil, EV = $7.7m
AXE @ 17.5c, MCap $11.3m, Cash = $2.9m, LI = Nil, EV = $8.4m#
HLX @ 7.7c, MCap $15.7m, Cash = $5.7m, LI = $1.0m, EV = $9.0m#

NB, Actual cash balances will be adjusted when announced in the quarterlies


Much appreciated shasta, MOX and IRC the picks IMO.

How far off are you from dipping your toe back into the market?

[shasta]

Much appreciated shasta, MOX and IRC the picks IMO.

How far off are you from dipping your toe back into the market?

Depends on how long it takes to get back sorted!

Already got the ducks lined up for the longer term holds, but always searching for more short term fun!

MOX, IRC, HEM, & RXL all have great individual fundamentals that the market has ignored IMO

[Corporate]

Depends on how long it takes to get back sorted!

Already got the ducks lined up for the longer term holds, but always searching for more short term fun!

MOX, IRC, HEM, & RXL all have great individual fundamentals that the market has ignored IMO

Well I hope you aren't too far off! What have you got locked in for your long term portfolio at the moment?

[trackers]

What about MDS?

Market cap: ~$10mil

JORC gold: 426,200 oz (356k at Fortitude, remainder at Gallant and Sunrise)

Pilbara JORC Iron: 11.5Mt @ 53% Fe


Terry Streeter has bought a couple times in last month and now holds ~20%.

As at 31Mar cash on hand was $1.2mil which isn't a lot, but burn rate last quarter was only about 250k

[JBmurc]

Depends on how long it takes to get back sorted!

Already got the ducks lined up for the longer term holds, but always searching for more short term fun!

MOX, IRC, HEM, & RXL all have great individual fundamentals that the market has ignored IMO


yeah hope that back comes right sooner than later shasta as it's been great buying of late
some of my best buys of late june (last week) PSA @17.5c KRE @ 14c-14.5c HLX @ 7.4c

[shasta]

What about MDS?

Market cap: ~$10mil

JORC gold: 426,200 oz (356k at Fortitude, remainder at Gallant and Sunrise)

Pilbara JORC Iron: 11.5Mt @ 53% Fe


Terry Streeter has bought a couple times in last month and now holds ~20%.

As at 31Mar cash on hand was $1.2mil which isn't a lot, but burn rate last quarter was only about 250k

Trackers

For now im not looking for any additional LOW EV stocks, i feel i have covered all the bases - thats not to say there isnt better companies out there!

For example, if you were looking for a Gold/Iron Ore play, HLX covers that, as does MOX & TRF to a lesser extent

[denpal]

What about MDS?

Market cap: ~$10mil

JORC gold: 426,200 oz (356k at Fortitude, remainder at Gallant and Sunrise)

Pilbara JORC Iron: 11.5Mt @ 53% Fe


Terry Streeter has bought a couple times in last month and now holds ~20%.

As at 31Mar cash on hand was $1.2mil which isn't a lot, but burn rate last quarter was only about 250k

trackers, i had a quick look, but compared to PXG. I'll stick with PXG! The reason is that I reckon PXG has a quicker growth trajectory, 2.2M oz gold target within 18-24 months.

[duncanjones]

GMM (17.5c) & TPL (2.1c) should have a good few weeks, both in Mongolia (booming - see CEO) in hot sectors with low market caps. GMM potash results due. I haven't bought yet but will look into them today.

[evilroyrule]

quite excited about my little anp. todays ann. continues a trend of positive news flow. need to see a break over 1.2c me thinks to signal an end to this churn/downtrend.:mellow:

[evilroyrule]

boing! 10 char

[shasta]

GMM (17.5c) & TPL (2.1c) should have a good few weeks, both in Mongolia (booming - see CEO) in hot sectors with low market caps. GMM potash results due. I haven't bought yet but will look into them today.

Ive started a GMM thread already, if you have any updates for them.

[duncanjones]

Ive started a GMM thread already, if you have any updates for them.

Thanks Shasta just put up the info I found out today re: results. My post above should have read manganese results due not potash sorry. Ended up buying a small parcel today in GMM.

[shasta]

PDM -New high-grade copper drill intersections at Frogmore

http://stocknessmonster.com/news-item?S=PDM&E=ASX&N=640029

PDM jumped up from 2.3c to 3.2c after ann, EV still only $3.6m

[trackers]

Good call, again, duncan... I was keen to get some KDRO's today at 21c but ASB didn't have it loaded as a tradeable stock.... By the time I'd sorted them out I had to pay 22.5c. Sigh. Worth it though.

Now just need PXG to sort its act out

I'm pretty happy with the second set of results released for KDR/O last night - Impressive amount of cobar-style copper found to date for a maiden drill programme of an $11mil market cap company (2014 in the money oppies)

http://www.stocknessmonster.com/news-item?S=KDR&E=ASX&N=357538

[shasta]

Low EV - Update for the week ending 8/7/11 (stocks with # have a JORC resource, * indicates 30/6 updated cash figure)

SPQ @ 5c, MCap $3.8m, Cash $2.3m, Listed Investments $1.3m, EV = $0.2m
MOX @ 5.3c, MCap $7.8m, Cash $3.8m, Listed Investments $2.5m, EV = $1.5m
IRC @ 14c, MCap $16.1m, Cash $4.1m, Listed Investments $9.7m, EV = $2.3m#
PDM @ 3.1c, MCap $4.6m, Cash $1.2m, Listed Investments - Nil, EV = $3.4m#
HEM @ 25.5c, MCap $17.9, Cash $9m, Listed Investments $4m, EV = $4.9m#
AIV @ 5c, MCap $8.3m, Cash $3m, Listed Investments - Nil, EV = $5.3m#
PEX @ 9.5c, MCap $8.3m, Cash $1.9m, Listed Investments - Nil, EV = $6.4m#
ELT @ 21c, MCap $17.3m, Cash $10.8m, Listed Investments- Nil, EV = $6.5m
RCO @ 40c, MCap $21.1m,Cash $14m, Listed Investments - Nil, EV = $7.1m (Div yield 10% FF @ 40c)
RXL @ 3.4c, MCap $11.9m, Cash $4.5m, Listed Investments - Nil, EV = $7.4m#
HLX @ 7.6c, MCap $15.5m, Cash $5.7m, Listed Investments $1m, EV = $8.8m#
PDZ @ 21c, MCap $15.9m, Cash $2.1m, Listed Investments $4.6m, EV = $9.2m#

After review AXE & AKA have been deleted off the list

NB, No quarterlies announced yet, so all cash figures are "provisional"

[JBmurc]

Another one worth alook I come across yesterday -GSC-www.globalgeo.com.au
might well buy a wee few next week 5c marketcap 6.4mill -2.1mill in cash ,low admin 120k qtr
Silver,gold,copper explorer in peru,USA,mexico ----best drill results to date---massive 164m 410g/t Silver-peru ----- 18m 4.7g/t gold-USA
more drilling to come in the 2nd half ,directors been buying of late

[shasta]

Another one worth alook I come across yesterday -GSC-www.globalgeo.com.au
might well buy a wee few next week 5c marketcap 6.4mill -2.1mill in cash ,low admin 120k qtr
Silver,gold,copper explorer in peru,USA,mexico ----best drill results to date---massive 164m 410g/t Silver-peru ----- 18m 4.7g/t gold-USA
more drilling to come in the 2nd half ,directors been buying of late

I'll have a look, but already got PEX & ELT for high grade silver/gold, & GRM (now off the list) plus im not looking to add more stocks to the list, im cutting down on the sheer number of stocks i follow.

Will start a thread for MLX over the weekend, its a mid cap > $300m, but has a massive Nickel/Cobalt resource, on top of there Tin production.

Half the market cap is in cash & listed investments

[duncanjones]

I'll have a look, but already got PEX & ELT for high grade silver/gold, & GRM (now off the list) plus im not looking to add more stocks to the list, im cutting down on the sheer number of stocks i follow.

Will start a thread for MLX over the weekend, its a mid cap > $300m, but has a massive Nickel/Cobalt resource, on top of there Tin production.

Half the market cap is in cash & listed investments

Still good to put them on the thread for others to follow though, this thread is so handy I have it bookmarked!

[shasta]

Still good to put them on the thread for others to follow though, this thread is so handy I have it bookmarked!

Absolutely, this thread is for any promising low EV stock to alert Sharetraders' members, i shall continue to update my list during the weekends.

I had some criteria for stocks to make the list, as i always intended to find 10 - 20 stocks & fine tune it down to just a few to focus on, but i wanted a range of stocks to cover all of the metals, & not just one single metal explorers.

I update the Negative EV stocks on there own threads (MFC, TRF, MLM, DGR, HRS) , & if any stock "takes off" from the low EV list, it will get its own thread.

[shasta]

Low EV - Update for the week ending 15/7/11 (stocks with # have a JORC resource, * indicates 30/6 updated cash figure)

SPQ @ 5c, Cash = $2.3m, LI = $1.2m, EV = $0.3m
MOX @ 5.1c, Cash = $3.8m, LI = $2.6m, EV = $1.1m
IRC @ 14.5c, Cash = $4.1m, LI = $9.8m, EV = $2.7m#
PDM @ 3.1c, Cash = $1.2m, EV = $3.4m#
AIV @ 4.2c, Cash = $3.0m, EV = $3.9m#
HEM @ 25c, Cash = $9.0m, LI = $4.0m, EV = $4.6m#
PEX @ 9.5c, Cash = $2.0m, EV = $4.6m#
RXL @ 3.3c, Cash = $4.5m, EV = $7.1m#
PDZ @ 18c, Cash = $2.1m, LI = $4.3m, EV = $7.2m#
RCO @ 41c, Cash = $14.0m, EV = $7.6m (Dividend Yield = 9.76% FF)
ELT @ 22.5c, Cash = $10.8m, EV = $7.7m
HLX @ 7.3c, Cash = $5.7m, LI = $1.0m, EV = $8.1m#

NB, Cash position excludes quarterley costs, will adjust these as announced to the market

[shasta]

OK, so who on Sharetrader is "backing the jockey?"

This is the first time i can recall that all stocks on the LOW EV list have traded on the same day!

Liquidity for some of those stocks is almost nil, so to get a decent parcel takes time, SPQ for example, yet jumped from 5c to 6.5c today

[drillfix]

OK, so who on Sharetrader is "backing the jockey?"


Hi Shasta,

Say mate, who exactly is the jockey?

[shasta]

Hi Shasta,

Say mate, who exactly is the jockey?

Not sure what pony im on, but i update the thread late last night, & today every LOW EV stock trades, cannot recall that happening since i started the thread!

[shasta]

PDM -New high-grade copper drill intersections at Frogmore

http://stocknessmonster.com/news-item?S=PDM&E=ASX&N=640029

PDM jumped up from 2.3c to 3.2c after ann, EV still only $3.6m

PDM - More copper - silver hits at Frogmore

http://stocknessmonster.com/news-item?S=PDM&E=ASX&N=641540

· Results indicate a southerly plunge to the copper with mineralisation open at depth and possibly increasing in grade with depth· Plans are taking shape for an upcoming diamond drill program at Frogmore

PDM @ 2.6c has an EV < $3m

[shasta]

Low EV - Update for the week ending 22/7/11 (stocks with # have a JORC resource, * indicates 30/6 updated cash figure)

SPQ @ 6.5c, EV = $1.5m
IRC @ 14c, EV = $1.7m#
MOX @ 5.8c, EV = $2.7m
PDM @ 2.6c, EV = $2.7m#
HEM @ 24c, EV = $3.9m#
AIV @ 4.6c, EV = $4.6m#
RCO @ 38c, EV = $6.0m (Dividend yield 10.53% FF @ 38c)
PEX @ 10c, EV = $6.8m#
PDZ @ 18c, EV = $7.5m#*
RXL @ 3.5c, EV = $8.1m#
ELT @ 23c, EV = $8.1m
HLX @ 7.7c, EV = $8.9m#

Only PDZ has announced updated cashflow figures @ 30 June being $2.0m

[duncanjones]

MLM - Metallica Minerals Limited
"A Queensland multi-commodity resource development company, with direct major interests in nickel-cobalt, scandium, zircon-rutile and limestone, plus strategic investments in coal, bauxite, tungsten, copper, gold and rare earth elements."

Its not often you can buy shares for cheaper than what it is worth (current assets) but you are lucky and have that chance right now. MLM is currently has a current asset value (cash and listed companies only) with a 51.25% premium to its current share price. One of the companies holdings alone in MTE is worth more than its entire market cap. MLM also have their own projects on the way so you get these for absolutely no valuation in the current share price.

Shares On Issue: 128,777,710
Options Outstanding: 6,000,000
Market Cap At 48c: $64,693,300
Top 20 Own: 55.19%

Listed Shares:
80,000,000 MTE @ 93.5c = $74,800,000
26,867,621 CBX @ 25c = $6,716,905
22,069,619 PMQ @ 9.3c = $2,052,475
11,866,658 ORM @ 19c = $2,254,665
Total Listed Shares = $85,824,045

Cash In Bank (19/07/2011): $7,700,000

Current Assets = $93,524,045
Number Of Shares = 128,777,710
Assets Per Share = 72.6c (51.25% higher than current price)

Other Projects/Assets:
* Nornico "Tri-Metal" Project - Nickel, Cobalt & Scandium
* Lucky Break (50% JV) - Nickel
* Weipa Zircon-Rutile HMS Project - Zircon & Rutile
* Limestone Projects - 7 high quality projects.

Links:
* Investor Presentation (Noosa Mining Conference) (http://www.asx.com.au/asxpdf/20110714/pdf/41zry82j6881y4.pdf)
* Quarterly Detailing Projects (http://www.asx.com.au/asxpdf/20110429/pdf/41ybjzlnt6r9nv.pdf)
* 20th July Investments Update (http://www.asx.com.au/asxpdf/20110720/pdf/41zvxb604lyj8y.pdf)
* Top 20 Report (last page) (http://www.asx.com.au/asxpdf/20110718/pdf/41ztndvr9wdnms.pdf)

[shasta]

MLM - Metallica Minerals Limited
"A Queensland multi-commodity resource development company, with direct major interests in nickel-cobalt, scandium, zircon-rutile and limestone, plus strategic investments in coal, bauxite, tungsten, copper, gold and rare earth elements."

Its not often you can buy shares for cheaper than what it is worth (current assets) but you are lucky and have that chance right now. MLM is currently has a current asset value (cash and listed companies only) with a 51.25% premium to its current share price. One of the companies holdings alone in MTE is worth more than its entire market cap. MLM also have their own projects on the way so you get these for absolutely no valuation in the current share price.

Shares On Issue: 128,777,710
Options Outstanding: 6,000,000
Market Cap At 48c: $64,693,300
Top 20 Own: 55.19%

Listed Shares:
80,000,000 MTE @ 93.5c = $74,800,000
26,867,621 CBX @ 25c = $6,716,905
22,069,619 PMQ @ 9.3c = $2,052,475
11,866,658 ORM @ 19c = $2,254,665
Total Listed Shares = $85,824,045

Cash In Bank (19/07/2011): $7,700,000

Current Assets = $93,524,045
Number Of Shares = 128,777,710
Assets Per Share = 72.6c (51.25% higher than current price)

Other Projects/Assets:
* Nornico "Tri-Metal" Project - Nickel, Cobalt & Scandium
* Lucky Break (50% JV) - Nickel
* Weipa Zircon-Rutile HMS Project - Zircon & Rutile
* Limestone Projects - 7 high quality projects.

Links:
* Investor Presentation (Noosa Mining Conference) (http://www.asx.com.au/asxpdf/20110714/pdf/41zry82j6881y4.pdf)
* Quarterly Detailing Projects (http://www.asx.com.au/asxpdf/20110429/pdf/41ybjzlnt6r9nv.pdf)
* 20th July Investments Update (http://www.asx.com.au/asxpdf/20110720/pdf/41zvxb604lyj8y.pdf)
* Top 20 Report (last page) (http://www.asx.com.au/asxpdf/20110718/pdf/41ztndvr9wdnms.pdf)

Other "negative" EV stocks you may wish to follow are: DGR, HRS, MFC, TRF - refer individual threads

[duncanjones]

Other "negative" EV stocks you may wish to follow are: DGR, HRS, MFC, TRF - refer individual threads

Awesome thanks, will look into them. In your experience what usually happens with these stocks, do they get closer together in valuation to price??

Interested in MLM purely as a way to get into MTE which is getting alot of interest.

[trackers]

That's an awesomely well laid out post about MLM dunjan, cheers

[JBmurc]

yeah your've got to love the numbers with MLM liked the presentation shows how much growth has yet to be priced into the SP

[shasta]

yeah your've got to love the numbers with MLM liked the presentation shows how much growth has yet to be priced into the SP

MLM have mentioned the $4.5b IGV of the Scandium alone on the Nornico project many times before, & ive posted the links!

Duncan, stocks like these tend to be seen as just "Listed Investment Companies" & a discount to NTA of around 20% seems "normal" given the large holdings in small cap stocks where liquidity is an issue, the market will rarely factor into the share price the non listed projects due to funding risks, market conditions, metal prices etc

MLM has a few projects in its own right, & i suspect Nornico will be spun out to become self funding in due course (same model as DGR).

Have a look back at the SRL thread, & see how long it took Mgmt/Market to realise & unlock the value to narrow the NTA discount

Another stock i have been meaning to start a thread for is MLX, Its not a LOW EV stock, but has approx 1/2 Mcap in cash & shares (mostly IGO), it has a huge Nickel/Cobalt project in addition to there TIN assets which are already in production.

I see there growth from the Nickel project, it's not without risk especially the large costs involved, but a massive cash cow if there forecasts come true!

[shasta]

Low EV - Update for the week ending 5/8/11 (stocks with # have a JORC resource, cash figures as per 30/6, unless otherwise stated)

Overall due to relatively light liquidity the Low EV stocks have held up reasonably well, those hammered severely are hightlight in bold.

With the global uncertainty & possible issues with companies raising capital, there will be some bargin opportunities within the resource specs, thru discounted SPP/CR's, & attached options, for that reason i have stated the cash figures

HEM @ 20.5c, MCap $14.4m, Cash = $10.0m, LI $3.6m, EV = $0.8m#
PDM @ 1.9c, MCap $2.8m, Cash = $0.9m, EV = $1.9m# (NB, Capital raising likely this quarter)
SPQ @ 7.1c, MCap $5.5m, Cash = $2.1m, LI $1.1m, EV = $2.3m
AIV @ 3.0c, MCap $5.0m, Cash = $2.5m, EV = $2.5m# (Very cheap Potash play)
MOX @ 6.0c, MCap $8.9m, Cash = $3.7m, LI $2.2m, EV = $3.0m
IRC @ 13c, MCap $14.9m, Cash = $5.4m, LI $6.3m, EV = $3.2m#
PDZ @ 13c, MCap $9.9m, Cash = $2.0m, LI $3.3m, EV = $4.6m#
ELT @ 18c, MCap $14.8m, Cash = $9.3m, EV = $5.5m (Nb, the recent anns for high grade gold & silver results)
RCO @ 41c, MCap $21.6, Cash = $15.2m, EV = $6.4m (Dividend yield @ 4c/41c = 9.76% FF)
RXL @ 3.2c, MCap $11.5m, Cash = $4.4m, EV = $7.1m# (Some decent projects incl Zinc)
PEX @ 10c, MCap $8.8m, Cash = $1.5m, EV = $7.3m# (JORC 340k Au, + high grade Ag)
HLX @ 6.8c, MCap $13.9m, Cash = $4.2m, LI $1.0m, EV = $8.7m#

[shasta]

Low EV - Update for the week ending 5/8/11 (stocks with # have a JORC resource, cash figures as per 30/6, unless otherwise stated)

Overall due to relatively light liquidity the Low EV stocks have held up reasonably well, those hammered severely are hightlight in bold.

With the global uncertainty & possible issues with companies raising capital, there will be some bargin opportunities within the resource specs, thru discounted SPP/CR's, & attached options, for that reason i have stated the cash figures

HEM @ 20.5c, MCap $14.4m, Cash = $10.0m, LI $3.6m, EV = $0.8m# (24c)
PDM @ 1.9c, MCap $2.8m, Cash = $0.9m, EV = $1.9m# (2.3c)
SPQ @ 7.1c, MCap $5.5m, Cash = $2.1m, LI $1.1m, EV = $2.3m (7.1c)
AIV @ 3.0c, MCap $5.0m, Cash = $2.5m, EV = $2.5m# (3.5c)
MOX @ 6.0c, MCap $8.9m, Cash = $3.7m, LI $2.2m, EV = $3.0m (5.8c)
IRC @ 13c, MCap $14.9m, Cash = $5.4m, LI $6.3m, EV = $3.2m# (11.5c)
PDZ @ 13c, MCap $9.9m, Cash = $2.0m, LI $3.3m, EV = $4.6m# (16c)
ELT @ 18c, MCap $14.8m, Cash = $9.3m, EV = $5.5m (22c)
RCO @ 41c, MCap $21.6, Cash = $15.2m, EV = $6.4m (41.5c)
RXL @ 3.2c, MCap $11.5m, Cash = $4.4m, EV = $7.1m# (3.4c)
PEX @ 10c, MCap $8.8m, Cash = $1.5m, EV = $7.3m# (9.5c)
HLX @ 6.8c, MCap $13.9m, Cash = $4.2m, LI $1.0m, EV = $8.7m# (6.6c)

Have highlighted the closing share prices as of today in bold, overall held up pretty good & a few even ahead!

HEM, PDM & AIV have done well since i mentioned them as way undervalued ;)

[drillfix]

Have highlighted the closing share prices as of today in bold, overall held up pretty good & a few even ahead!

HEM, PDM & AIV have done well since i mentioned them as way undervalued ;)

Cheers Shasta, always going that extra mile for the benefit of the ST community.

As one day when reading back over posts, people will see the price added to reflect the post and think, sheebers I could have bought some of those stocks dirt cheap...lol

As usual, great work mate ~!

[shasta]

Low EV - Update for the week ending 19/8/11 (stocks with # have a JORC resource, cash figures as per 30/6, unless otherwise stated)

IRC @ 12.5c, MCap = $14.4m, Cash = $5.4m, LI = $7.1m (RWD & AIV), EV = $1.8m#
MOX @ 5.3c, MCap = $7.8m, Cash = $3.7m, LI = $1.9m (MEU), EV = $2.2m
SPQ @ 7.0c, MCap = $5.4m, Cash = $2.1m, LI = $1.0m (DYL), EV = $2.3m
PDM @ 2.3c, MCap = $3.4m, Cash = $0.9m, LI = Nil, EV = $2.5m#
HEM @ 23c, MCap = $16.2m, Cash = $10.0m, LI = $3.6m (AAJ), EV = $2.5m#
AIV @ 3.3c, MCap = $5.5m, Cash = $2.5m, LI = Nil, EV = $3.0m#
PDZ @ 14c, MCap = $10.6m, Cash = $2.0m, LI = 3.7m (PIR/PIROA), EV = $4.9m#
ELT @ 19c, MCap = $15.7m, Cash = $9.3m, LI = Nil, EV = $6.4m
PEX @ 9.5c, MCap = $8.3m, Cash = $1.5m, L = Nil, EV = $6.8m#
RCO @ 43c, MCap = $22.7m, Cash = $15.2m, LI = Nil, Gold = Nil^, EV = $7.5m (Div Yield 9.3%)
HLX @ 6.9c, MCap = $14.1m, Cash = $4.2m, LI = $1.2m (GCY), EV = $8.7m#
RXL @ 3.8c, MCap = $13.7m, Cash = $4.4m, LI = Nil, EV = $9.3m#

^ - RCO receives Gold ex OGC a part of a royalty agreement, during the Qtr this was sold & is included in cash position

[shasta]

I see after tonights LOW EV update that IRC now has dropped into NEGATIVE EV territory

IRC has some small gold projects, a very large vandium project (with moly) & exposure to Potash via there 6.35m RWD & 4.65m AIV shares

IRC @ 10c = MCap $11.5m, Cash = $5.4m, Listed Investments = RWD & AIV $6.4m, leaving EV of ($0.3m)

[shasta]

Low EV - Update for the week ending 26/8/11 (stocks with # have a JORC resource, cash figures as per 30/6, unless otherwise stated)

IRC @ 10c, MCap = $11.5m, Cash = $5.4m, LI = $6.8m, EV = ($0.7m#)
HEM @ 20c, MCap = $14.1m, Cash = $10.0m, LI = $4.0m, EV = $0.1m#
MOX @ 5.1c, MCap = $7.6m, Cash = $3.7m, LI = $1.8m, EV = $2.1m
AIV @ 2.9c, MCap = $4.8m, Cash = $2.5m, LI = NIL, EV = $2.3m#
SPQ @ 7.1c, MCap = $5.5m, Cash = $2.1m, LI = $1.0m, EV = $2.4m
PDM @ 2.3c, MCap = $3.4m, Cash = $0.9m^, LI = Nil, EV = $2.5m#
ELT @ 19c, MCap = $15.7m, Cash = $9.3m, LI = NIL, EV = $6.4m
RXL @ 3.1c, MCap = $11.1m, Cash = $4.4m, LI = NIL, EV = $6.7m#
PDZ @ 17c, MCap = $12.9m, Cash = $2.0m, LI = $3.8m, EV = $7.1m#
RCO @ 42.5c, MCap = $22.4m, Cash = $15.2m, LI = Nil, Gold = Nil^^, EV = $7.2m (Dividend yield FF = 9.41%)
PEX @ 10.5c, MCap = $9.2m, Cash = $1.5m^, LI = NIL, EV = $7.7m#
HLX @ 7.1c, MCap = $14.5, Cash = $4.2m, LI = $1.1m, EV = $9.2m#

^ Capital raising required in the short term
^^ RCO receives gold ex OGC as per of a royalty agreement

[drillfix]

Evening Shasta,
I can sure see that you have been a busy man last night / early this AM, or by the looks of things, you have been up most of the night doing a stack of number crunching on many stocks.

Just want to say much appreciated mate, and keep up the good work.

Cheers~!

[denpal]

I see after tonights LOW EV update that IRC now has dropped into NEGATIVE EV territory

IRC has some small gold projects, a very large vandium project (with moly) & exposure to Potash via there 6.35m RWD & 4.65m AIV shares

IRC @ 10c = MCap $11.5m, Cash = $5.4m, Listed Investments = RWD & AIV $6.4m, leaving EV of ($0.3m)

Also, Major shareholder Mike Ruane (often called just MR on the forums) is still buying shares all the time, see all of the director interest notices this year right up to the present, the last for another 300,000 or so shares at 12c or so. He holds about a third of the company now.

[shasta]

Evening Shasta,
I can sure see that you have been a busy man last night / early this AM, or by the looks of things, you have been up most of the night doing a stack of number crunching on many stocks.

Just want to say much appreciated mate, and keep up the good work.

Cheers~!

Thanx, happy to share the updates as always! ;)

Im a night person, & tend to sleep during the day these days (back still no better)

I only have to update a few cells here & there & its done, most of the time is checking all the finer details of recent anns for changes in shares issued etc

I'm not looking at new stocks for the list at the mo, which saves plenty of time - so i'm getting more familiar with the 25 or so stocks i follow closely.

MFC, TRF, MLM, HRS & DGR are all Negative EV plays (see individual threads) + i follow at least 1 stock for every metal & across different sectors

[shasta]

Low EV - Update for the week ending 2/9/11 (stocks with # have a JORC resource, * indicates 30/6 cash figure, unless otherwise stated)

MFC @ 7.5c, MCap $5.5m, Cash $4.5m, LI $5.8m (BSM), EV = ($4.8m)#^
HEM @ 20c, MCap $14.1m, Cash $10.0m, LI $3.8m (AAJ), EV = $0.3m#
IRC @ 12c, MCap $13.8m, Cash $5.4m, LI $ 6.7m (RWD/AIV), EV = $1.7m#
TRF @ 33.5c, Map $28.3m, Cash $3.2m, LI $23.3m (IFE/ROL), EV = $1.8m#^
SPQ @ 6.8c, MCap $5.2m, Cash $2.1m, LI $1.0m (DYL), EV = $2.1m
PDM @ 2.3c, MCap $3.4m, Cash $0.9m, LI = Nil, EV = $2.5m#
MOX @ 5.6c, MCap $8.3m, Cash $3.7m, LI $1.9m (MEU), EV = $2.7m
AIV @ 3.5c, MCap $5.8m, Cash $2.5m, LI = Nil, EV = $3.3m#
ELT @ 19c, MCap $15.7m, Cash $9.3m, LI = Nil, EV = $6.4m
PDZ @16.5c, MCap $12.5m, Cash $1.9m, LI $4.0m (PIR), EV = $6.6m#
RCO @ 42c, MCap $22.1m, Cash $15.2m, LI = Nil, Gold = Nil~, EV = $6.9m (Dividend yield = 9.52% FF)
RXL @ 3.5c, MCap $12.6m, Cash $4.4m, LI = Nil, EV = $8.2m#
HLX @ 7.3c, MCap $14.9m, Cash $4.2m, LI = $1.1m (GCY), EV = $9.6m#
PEX @ 15.5c, MCap $13.6m, Cash $1.5m, LI = Nil, EV = $12.1m#

^ = MFC & TRF now included in Low EV list & not individually anymore
~ = RCO receives 1062.50/oz net per 1/4 ex OGC royalty agreement, all gold sold within quarter
Bold cash figures are for those companies likely to raise capital over the next quarter or two.

[shasta]

AIV - SIGNIFICANT GOLD/SILVER INTERSECTION – BARAMBAH PROJECT

http://stocknessmonster.com/news-item?S=AIV&E=ASX&N=234937

Most significant intersection to date on the Barambah Vein returned 4.98g/t gold and 118g/t silver over a 17.15 metre interval

 High gold values in rock samples identified from second parallel vein system

AIV has a JV agreement with NGF to earn up to 75%

AIV jumped from 3.5c to 4.5c today

[shasta]

Low EV - Update for the week ending 2/9/11 (stocks with # have a JORC resource, * indicates 30/6 cash figure, unless otherwise stated)

MFC @ 7.5c, MCap $5.5m, Cash $4.5m, LI $5.8m (BSM), EV = ($4.8m)#^ 7.5c
HEM @ 20c, MCap $14.1m, Cash $10.0m, LI $3.8m (AAJ), EV = $0.3m# 15c
IRC @ 12c, MCap $13.8m, Cash $5.4m, LI $ 6.7m (RWD/AIV), EV = $1.7m# 10c
TRF @ 33.5c, Map $28.3m, Cash $3.2m, LI $23.3m (IFE/ROL), EV = $1.8m#^ 26c
SPQ @ 6.8c, MCap $5.2m, Cash $2.1m, LI $1.0m (DYL), EV = $2.1m 6.8c
PDM @ 2.3c, MCap $3.4m, Cash $0.9m, LI = Nil, EV = $2.5m# 2c
MOX @ 5.6c, MCap $8.3m, Cash $3.7m, LI $1.9m (MEU), EV = $2.7m 5.1c
AIV @ 3.5c, MCap $5.8m, Cash $2.5m, LI = Nil, EV = $3.3m# 3.1c
ELT @ 19c, MCap $15.7m, Cash $9.3m, LI = Nil, EV = $6.4m 16c
PDZ @16.5c, MCap $12.5m, Cash $1.9m, LI $4.0m (PIR), EV = $6.6m# 12c
RCO @ 42c, MCap $22.1m, Cash $15.2m, LI = Nil, Gold = Nil~, EV = $6.9m (Dividend yield = 9.52% FF) 45c
RXL @ 3.5c, MCap $12.6m, Cash $4.4m, LI = Nil, EV = $8.2m# 3c
HLX @ 7.3c, MCap $14.9m, Cash $4.2m, LI = $1.1m (GCY), EV = $9.6m# 6.9c
PEX @ 15.5c, MCap $13.6m, Cash $1.5m, LI = Nil, EV = $12.1m# 12c

^ = MFC & TRF now included in Low EV list & not individually anymore
~ = RCO receives 1062.50/oz net per 1/4 ex OGC royalty agreement, all gold sold within quarter
Bold cash figures are for those companies likely to raise capital over the next quarter or two.

I havent been updating this thread as i have somehow managed to lose the spreadsheet!

Bold figures are the share prices as per Fridays close.

HEM, MOX, RCO, & RXL are still of interest to me, to refresh peoples memory

HEM - Iron ore advanced explorer, small high grade JORC resource
MOX - Copper/Gold, Manganese/Iron ore, Bauxite explorer with two large JV partners funding drilling
RCO - Receives royalties/gold & pays dividends 2 x 2c per year
RXL - Zinc/Lead, Phosphate, Gold & Nickel explorer, large JV partner (Teck) funding the Zinc project

[Corporate]

shasta, are you still following LCR? I haven't been but will dig into some research this weekend.

[shasta]

shasta, are you still following LCR? I haven't been but will dig into some research this weekend.

No i havent been, i lost the spreadsheet i had, but it was always intended to find say 15 low EV stocks max to cover the resource sector & filter them thru to the best ones.

The 4 mentioned in my previous post i still follow, especially MOX

[drillfix]

No i havent been, i lost the spreadsheet i had, but it was always intended to find say 15 low EV stocks max to cover the resource sector & filter them thru to the best ones.

The 4 mentioned in my previous post i still follow, especially MOX

Sorry to hear that you lost your file there Shasta.

Have you tried searching your whole hard drive via search using a *.xls or *.xlsx or whatever the file is called?

Sometimes I lose backups of backups and have numerous external and internal drives that for some reason, I decide to put something somewhere, yet meanwhile back at then ranch I continue on the with whatever I am doing only to forget when needed the files in question so I understand how you feel.

Hope all is going well for you mate and your posts and efforts are greatly apprecaited.

Cheers~!

[shasta]

Sorry to hear that you lost your file there Shasta.

Have you tried searching your whole hard drive via search using a *.xls or *.xlsx or whatever the file is called?

Sometimes I lose backups of backups and have numerous external and internal drives that for some reason, I decide to put something somewhere, yet meanwhile back at then ranch I continue on the with whatever I am doing only to forget when needed the files in question so I understand how you feel.

Hope all is going well for you mate and your posts and efforts are greatly apprecaited.

Cheers~!

Well well well, lookie what i have found this morning, i shall update the LOW EV spreadsheet & post accordingly ;)

[drillfix]

Well well well, lookie what i have found this morning, i shall update the LOW EV spreadsheet & post accordingly ;)

Excellent news Shasta :)

I am sure many here will be looking forward to checking that out once do your magic~!