PEX - Peel Exploration Limited

[shasta]

A new entrant to the low EV list, mostly due to its recent announcement with some historical high grade silver

Anyway, the fundie stuff:

Shares on issue: 87.7m @ $0.09 = $7.9m

Cash @ 31/12 = $2.3m

EV = $5.6m

Top 20 owns ~70%

Board is stacked with bean counters, cant say i know any of them
http://www.peelex.com.au/Directors.aspx

About Peel Exploration Limited

 The Company’s four 100%-owned projects cover approximately 500 km2 of highly prospective tenure in NSW and WA.
 These projects comprise Apollo Hill, May Day, Attunga, and Yerranderie.

 The Apollo Hill gold project is a major, protruding, shear-hosted, gold mineralised system that remains open down dip and along strike.

 Attunga Tungsten Deposit – a high grade tungsten deposit located near excellent infrastructure

 May Day gold-lead-zinc VMS deposit on granted mining lease near Cobar offers exciting exploration potential

Yerranderie - EL7356 - located about 25 km west of Picton, New South Wales, contains the historic Yerranderie silver field. Investigations indicate that substantial amounts of silver-lead-gold mineralisation remain present in surface waste and tailings dumps at Yerranderie.

Apollo Hill:

 Apollo Hill maiden resource estimate completed:
 11.1 Mt at 1.0 g/t Au for 341,000 oz gold at 0.5 g/t cutoff.
 Maximum depth of resource estimate is 150m below surface.

NB, Updated JORC due in April

December Quarterly Report:
http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=527016

Drilling underwy at May Day project:
http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=530751

New silver high grade project:
http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=531639

1968 drill intercept of 5.08m at 6,700 g/t Ag from 90.5m at Ruby mine; never followed up

Investor Presentation:
http://www.peelex.com.au/Upload/Announcements/PEX_IP_301110.pdf

The new high grade silver project is probably worth the EV itself, so the JORC 341k/oz Gold is basically free!

PEX covers a few metals, Au, Ag, Wo, Zn, Pb, Cu, Mo, looks cheap to me

Disc: Nil

[drillfix]

Another Excellent post Shasta!

You always put in 100% effort in displaying your data and presenting it really well, as always.

Cheers again.

dis:
Holding a small parcel

ps:
Was gonna post a chart, but there is not much to post on this stock it seems, it needs to break out past 9.1c to head higher though.

[shasta]

Another Excellent post Shasta!

You always put in 100% effort in displaying your data and presenting it really well, as always.

Cheers again.

dis:
Holding a small parcel

ps:
Was gonna post a chart, but there is not much to post on this stock it seems, it needs to break out past 9.1c to head higher though.

Thanx Drilly

You have to wonder what ever happened to the Geo who never followed up grades of 6,700 g/t Au!

Probably now working at McDonalds :D

I try to find these kind of companies, before the chart turns & whilst unloved & in need of nurturing, & before the likes of TH & his followers get into a lather

[drillfix]

Thanx Drilly

You have to wonder what ever happened to the Geo who never followed up grades of 6,700 g/t Au!

Probably now working at McDonalds :D

I try to find these kind of companies, before the chart turns & whilst unloved & in need of nurturing, & before the likes of TH & his followers get into a lather


LOL, working at Mcdonalds, but then hey, a jobs a job right? :P

And yes, you do a fine job at that, and I even get my suspicions that he probably gets them from you. Hows that or envy.

TH, we here at ST know your out there reading this. Now give Shasta his credit and stop hogging the spotlight with your army email list.

[JBmurc]

looking good today so little sell depth very hard to build to big a position at this time should have brought a few is morning but instead brought more SSNO for a short term trade

[drillfix]

JB, did you see those ALGO images I posted to you in the silver thread?

They would be perfect for you, so you just set your Algo loose with instructions that suit and then save it as your JB BOT :P

[trackers]

Thanx Drilly

You have to wonder what ever happened to the Geo who never followed up grades of 6,700 g/t Au!

Probably now working at McDonalds :D

I try to find these kind of companies, before the chart turns & whilst unloved & in need of nurturing, & before the likes of TH & his followers get into a lather


Haha, I know the opposite - a qualified Geologist who ran a Mc D's restaurant for a long time (many years)... Never quite worked that one out... suffice to say shes regained her senses and is now in Aus working as geo...

Anyhoo, this one looks good (though it has risen 50% in the last couple days!!). I like small caps that come with a side platter of JORC

[drillfix]

Haha, I know the opposite - a qualified Geologist who ran a Mc D's restaurant for a long time (many years)... Never quite worked that one out... suffice to say shes regained her senses and is now in Aus working as geo...

Anyhoo, this one looks good (though it has risen 50% in the last couple days!!). I like small caps that come with a side platter of JORC


Trackers, maybe he knows the key ingredient or secret of the Mikey D's famous Burger that never dissolves or vanishes.

Perhaps Peak are exploring for the exact minerals that enables these burgers to Dissolve LOL.

A new mining breakthrough 1st brought to you by PEX :P

[JBmurc]

JB, did you see those ALGO images I posted to you in the silver thread?

They would be perfect for you, so you just set your Algo loose with instructions that suit and then save it as your JB BOT :P

yeah will look into more I always hate when those bots are working a share but if they work ....

[drillfix]

yeah will look into more I always hate when those bots are working a share but if they work ....

The idea of the bots is not to like nor dislike (although I understand they are or can seem that way).

The idea is why dig the whole with the shovel when you can ask the robot to do it for you.

Meaning, when your only objective is to finish digging a hole to a set target, you just get your programmed BOT to do the waiting, worrying and tedious chore for you.

I too am old school and like the phone order and obtain, to then a more just click and buy and sell, but now I will be doing some further studying regarding using more advanced orders to do alot of my work for me, as I am missing out on too much most of the time, and always have an excuse for this which eventually, will come to and end as there will be no more excuses for missing or NOT achieving certain objectives, but it sure does take some effort in placing myself in the curve to get there to make it that way.

Anyway, hope it makes sense and you can see the logic in it (as you seem to buy much large than I so this may suit your entry and exit tatics)

[JBmurc]

The idea of the bots is not to like nor dislike (although I understand they are or can seem that way).

The idea is why dig the whole with the shovel when you can ask the robot to do it for you.

Meaning, when your only objective is to finish digging a hole to a set target, you just get your programmed BOT to do the waiting, worrying and tedious chore for you.

I too am old school and like the phone order and obtain, to then a more just click and buy and sell, but now I will be doing some further studying regarding using more advanced orders to do alot of my work for me, as I am missing out on too much most of the time, and always have an excuse for this which eventually, will come to and end as there will be no more excuses for missing or NOT achieving certain objectives, but it sure does take some effort in placing myself in the curve to get there to make it that way.

Anyway, hope it makes sense and you can see the logic in it (as you seem to buy much large than I so this may suit your entry and exit tatics)

yeah let us know how it goes

[denpal]

Thanks for the heads-up. PEX appeared on my watchlist just this morning as someone mentioned it in passing on another site. Yes, anything silver has legs ATM. I'm only in SVL on the ASX for silver exposure but a couple of microcaps would be good too. I do have my main silver stock on the TSX, First Majestic which is performing brilliantly.

Note XGD daily chart we are sitting right at the downtrend line (beneath it) and should hopefully blast up through it come Monday. The HUI and SIL have already blasted through their downtrend lines.

[drillfix]

Looks like silver is about to crack $36 bucks (currently $35.95) will it continue or will it take a new $40 psychological target?

Although one could also say it looks a bit toppy, but then one could keep saying that for weeks, months, perhaps even years?

Quick 6 month chart courtesy of Kitco

http://www.imageurlhost.com/images/69eo46vnysvble99hf9.gif

[drillfix]

Timber!

Made an exit out at 10.5c for what little parcel I had due to the hourly looking like it was going to turn which it has.

I believe the stock will end up trading between 8c to 9.5c approximately until either silver makes new highs or the fundamentals or news from the company prevail.

[shasta]

PEX - IP UNDERWAY AT RUBY SILVER; DRILLING UNDERWAY AT APOLLO HILL; ASSAYS AWAITED FOR 4-MILE

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=538213

Update on there Silver/Gold projects, the historical high grades interest in, especially in light of the strong Silver price

BRR Interview
http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=538446

Disc: Nil

[soulman]

Timber!

Made an exit out at 10.5c for what little parcel I had due to the hourly looking like it was going to turn which it has.

I believe the stock will end up trading between 8c to 9.5c approximately until either silver makes new highs or the fundamentals or news from the company prevail.

Good call Drill re: the trading range. I manage to pick a few at 8.1 (bought first lot at 10 cents). Some might call it averaging down but I see it as.....oh well......averaging down. It works and unfortunately I sold too early at 10.5 and 12.5.

Thanks for the heads up Shasta.

[drillfix]

Hi soulman,
Good Stuff on your entry there.

After the previous fall, I missed the boat on the 7.5 - 7.9c shares that were available a while back.

Ahh well, may get another chance again though as I feel Hi Ho Silver may take a bit of a breather for a week or two as it appears to have topped out.

I find support is at around $41 dollars and should it break through that then I would be careful about which silver stocks you choose to top up on (IMO)

All the best with that.

[shasta]

PEX - 4-MILE SILVER-LEAD-ZINC DISCOVERY; HIGH GRADE SILVER-GOLD IN ROCK CHIPS AT RUBY SILVER

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=540774

PEX up 2c to close at 11.5c

[shasta]

PEX - Investor Presentation

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=541681

Apollo Hill project overview on page 16 outlines te potential news flow for the remainder of the year.

Not just high silver grades, they have a JORC 341,000/oz Gold resource which they are drilling to increase.

With an EV ~$8m (includes $2m cash, with low overheads)

[shasta]

PEX - APOLLO HILL RETURNS POSITIVE GOLD RESULTS

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=546807

PEX already has a JORC 341,000/oz Gold resource

@ 9c, EV = $5.9m (Cash per last Qtr ~$2m)

[shasta]

PEX - STRONG OFF-HOLE ANOMALY AT 4-MILE

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=547009

Certainly busy times at PEX!

[shasta]

Since this ann came out Thursday, last two days have seen PEX jump from 9/9.5c on 14c on increased volume

http://www.asx.com.au/asxpdf/20110826/pdf/420nbdh1v0km5v.pdf

PEX has a JORC Gold project + other projects including Base Metals, Silver, Tungsten & Molybdenum

[JBmurc]

Yeah PEX been on my watchlist for awhile, looked to take a position recently but such low volume no real selling didn't end up waiting round, ended up moving onto KMC

[shasta]

Yeah PEX been on my watchlist for awhile, looked to take a position recently but such low volume no real selling didn't end up waiting round, ended up moving onto KMC

PEX - Presentation

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=555620

Page 2 re Apollo Hill Gold project provides the short term newsflow

•PEX difference
–Very low admin costs of ~$110k per quarter
–Small, efficient technical/operations team
–High exploration success rate
–Maximising every dollar –$7,000 ute, $70,000 XRF analyser

NB, PEX had ~$1.5m cash at 30/6, so with minimal admin costs the money when spent is progressing the projects!

PEX closed at 15.5c

[drillfix]

Peel are looking good there Shasta.

Some good valid points you mention about the low cost operation. Missed the boat on the last run up and a little hesitant to buy in at present.

Have this on my watchlist anyway so could very well be in for another trade at some stage, just not at present.

[shasta]

PEX - 48% JUMP IN APOLLO HILL GOLD RESOURCE TO 505,000oz

http://stocknessmonster.com/news-item?S=PEX&E=ASX&N=556524

Not exactly high grade, but they do have some decent silver grades in other projects

PEX @ 15c has an EV of $11.7m

[soulman]

Buyers demand seems to drop quite a bit before the days end.

Another coy with 500,000 JORC ounces of gold Montezuma (MZM) have been largely ignored by the market, with EV similar to PEX.

Will look to re-enter PEX on weaknesses.

[soulman]

Too bad PEX is not offering any incentive such as free oppies in this latest 1 for 4 capital raising at 12 cents. PEX is another company that has many upside potential and good inventory. I re-entered PEX at 12 cents, and hence, dissapointed that the cap raising does not come with free oppies. Good to see large buyers sitting at 12 cents though.

[soulman]

Hope to get my shortfall application filled. Over 5 mil shares not subscribed so fingers cross.

[soulman]

PEX getting a moved on but sellers have reign in. Still good value.

[soulman]

Wow, what a sic game. Up 179% on massive sulphide find. I sold and re-bought and re-bought more after closed, thinking just about another Sirius SIR happening here, head is still spinning. For some reason I had a sell order in the line up that got taken out first thing this morning.

SIR going from 5.7 cents to $1.25 in less than a month. This PEX might be on the same recipe.