Prairie Downs Metals (PDZ) - Base Metals Minnow

[njat]

Still amazing to think that we are so close to the start of a large and very exciting drilling campaign, and people are selling.....why the frick did they buy in in the first place??

exactly! I couldn't agree more.

[Huang Chung]

At last!

First drill rig now on site and has commenced drilling.

http://www.stocknessmonster.com/news...E=ASX&N=411684

This could be very exciting. I've heavily into this stock, so I've got a lot riding on them reporting some decent intercepts.

Fingers crossed.

[Huang Chung]

As expected, the PDZ share price has rallied on the commencement of drilling the first of their newly discovered copper outcroppings.

Today was most interesting, considering the generally bearish tone to the market, including the resource plays.

PDZ was up 2.5c on excellent volume, after a very nice run the previous couple of days.

So, are punters buying in on the excitment / expectation of drilling...or something else going on?

[foxysfolkfaced23]

yes it has been interesting times for PDZ. everything else is turning to p00 in the last week BUT the last five trading days prior to today have seen gains of:

02 Jul 2008: 12.99%
01 Jul 2008: 13.24%
30 Jun 2008: -2.16%
27 Jun 2008: 0.72%
26 Jun 2008: 9.52%

and on top of these gains another 2.87% to add to the list today on a really negative day all around.

I re-read the two announcements re: copper discoveries and upcoming drilling program and have decided to buy back in. I owned some of these about 12 months ago but this time i'm expecting even bigger things.

If there is any depth at all then PDZ could have a huge copper resource to go along with their already defined 1 billion + dollar zinc resource.

Looking foward to the drilling results......

[Huang Chung]

Hi Foxy

Just goes to prove that there is life outside the energy space if you look in the right places.

[FarmerGeorge]

Yes the drop was on relatively low volume, unfortunately didn't get low enough for me to be a buyer this time around. No complaints from here though, just hope that we find something good in that copper deposit. Also worth remembering that their zinc is still open so an upgrade there is not unlikely.

[Huang Chung]

Yes the drop was on relatively low volume, unfortunately didn't get low enough for me to be a buyer this time around. No complaints from here though, just hope that we find something good in that copper deposit. Also worth remembering that their zinc is still open so an upgrade there is not unlikely.

Remember Mark was saying in one of his presentations that the rule of thumb is depth is about twice the strike length. If that were to hold water in their zinc/lead lodes, you would be looking at a depth of well over a kilometre....They've so far drilled down to 2-250m only. It would be more amazing if they didn't get an upgrade of their zinc/lead lodes.

In the meantime, impatiently awaiting the initial results from their drilling program on the first of their copper prospects.

There is a new Mining Matters report on their website. Here is the link. For some reason, I can get about half way through and it then stops.....

http://www.prairiedownsmetals.com.au...June-2008.html

Can anybody access the second part of the story?

[FarmerGeorge]

HC thanks for posting that, and all the other things you post on here. As a confirmed technidiot I appreciate it! I was able to watch the segment to the end though, not sure why if would have stopped on you mate.

[Huang Chung]

Anything new in the second half FG?

[foxysfolkfaced23]

just watched that report - it was aired on the 28/06/08 - no wonder the share price has had a jump in the past week.

hc - 2nd half just talks about high metal grades and the fact that the strike is close to the surface and that the copper will act as a hedge for low zinc prices - and minimise capital payback - all looks extremely positive from here.

i am expecting the drilling results to be a few weeks away yet but then a steady stream of results will follow - just like they did with their zinc results last year.....