Korab Resources - KOR

[Moonshine]

Lots of good acreage,... currently drilling at their Batchelor/Rum Jungle tenements in the NT.

"At U-515 the largest anomaly exceeded the background radiation level of the
prospect by between 5 times and 21 times. The anomaly is trending north to
north-east and has approximate dimensions of 240 m by 100 m and is open
to the west. It is located approximately 1.5 km east of the historical Rum
Jungle Creek South uranium mine."

If they can find 1/4 of what CMR has got... then there is massive upside to this co.

The website is fantastic and will give you all the info you need:

http://www.korabresources.com.au/

Cheers,

Moonshine

[OneUp]

New World Alloys (NWA) has 40% free carried in Batchelor.

Plus a profitable and rapidly expanding smelting operation.

[thereslifeafter87]

Up 50% today on announcement of an acquisition.

[Ponda]

Anyone following or interested in this little puppy

[STRAT]

Anyone following or interested in this little puppy

Looks like a bot has been buying today

[Ponda]

Looks like a bot has been buying today

Hi STRAT, he has been hanging around for a few days. From the looks he keeps selling down and I am unsure of what the implications for that are. I really don't understand. Maybe you could help?
When there was a 'buy' @ 16 and a sell @ 16.5 he would sell into 16 for about $215 worth at a time every 5 minutes.

Someone would then step up and buy the 16.5 out so then his order went and started selling into the 16.5 and then I missed the multi sells at 17 cents.

I just can't work out if he is trying to keep the price down as anyone who would want to buy KOR knows that they don't have to go to say 17 because he is more than happy to sell you his at 16.5.

I don't know!!

[Ponda]

I have borrowed this post from HC (Valuefirst)


There's a report from Resource Capital Research on the KOR website dated late September. They're talking about 33c per share from Geolsec & Bobrikovo alone (ie ignores Melrose & Bobrikovo).


"Investment Comment:
KOR has plans for four new mines, one spin-off in progress (UAU) and another planned for 2010 (LUG).

At US$850/oz Au and using DFS parameters, NPV of Bobrikovo oxide operation is A$6m (5% discount rate), with upside from developing the sulphide; GeolSec, at 30ktpa, margin A$350/t, for 5 years (and 5% disc), has NPV A$20.6m – a combined A$26.6m or A$0.33/share for these operations.

With several advanced projects, exploration properties in WA (gold, iron ore, uranium), and a market cap of A$16m, KOR appears under-rated. UAU and LUG spin-outs could help unlock some of this latent value. "

Full report at:
http://www.korab.com.au/analysts.html

P.S Current share price 16.5 cents

[Ponda]

KOR made an announcement yesterday in respect of turning further business arms into individual companies and as such there will be an IPO.

1)KOR holders will receive between 1 and 1.5 free share for each share held in the Bobrikovo Gold and Silver project.

2) KOR holders will also recieve 1 free share for each KOR share in the Melrose Gold project.

The above is subject to shareholders agreement.

KOR recently split of their Australia Uranium business and all KOR holders recieved about 1.33 shares for each share held. We are currently waiting for the UAU company to list.

The splitting of the UAU business did not have any detrimental affect on the share price.

Here is the link for yesterdays announcement.

http://www.asx.com.au/asxpdf/2010012...tdcbgrj38b.pdf

[shasta]

KOR made an announcement yesterday in respect of turning further business arms into individual companies and as such there will be an IPO.

1)KOR holders will receive between 1 and 1.5 free share for each share held in the Bobrikovo Gold and Silver project.

2) KOR holders will also recieve 1 free share for each KOR share in the Melrose Gold project.

The above is subject to shareholders agreement.

KOR recently split of their Australia Uranium business and all KOR holders recieved about 1.33 shares for each share held. We are currently waiting for the UAU company to list.

The splitting of the UAU business did not have any detrimental affect on the share price.

Here is the link for yesterdays announcement.

http://www.asx.com.au/asxpdf/2010012...tdcbgrj38b.pdf

Yeah i picked up on this yesterday, & the share price increase shows the market likes the 2 in specie distributions!

Always nice when a company creates value for shareholders!

[Ponda]

Buying KOR, in my mind, is a no brainer.

There are currently two flagged IPO's this year that KOR will be de-merging from the Company.

IF they are both listed at 20 cents in the IPO, that equates to 40 cents worth of free shares and yet the share price is currently 23.5 cents. It reached a high on Wednesday of 34 cents.

I posted on the 7/11/09 that the share price was 16.5, so there is a 42% rise in a couple of months.

I have attached a broker/dealer presentation that was released yesterday.

http://www.asx.com.au/asxpdf/2010012...k9pdd3md9t.pdf

SHASTA: Yes, it is nice to see them looking after their shareholders. I also like the fact that they don't keep us in the dark. There is a continuing supply of information to the market to keep us up to date. I'm a little perplexed as to why they has been no update in respect of the UAU listing.

DISC. I hold KOR, I like KOR (but then again I am a sucker for Goldies) Would be real nice to see someone else join me.