Prairie Downs Metals (PDZ) - Base Metals Minnow

[FarmerGeorge]

Good on you for 'buying in gloom' HC. While I'm obviosuly still keen on PDZ may I suggest you take a few profits? In the interests of disclosure, while I'm still heavily invested in PDZ I took some out today on this recent surge.

[Huang Chung]

Hi FG

Yeah, I considered taking a quick profit on some or all of the 99,000 shares I picked up last week at 20/20.5c, but haven't acted upon it so far.

I'll probably hold all of them, even though I suspect the current run is likely over. My focus with PDZ from the very beginning has been with a long term outlook, and nothing has really changed that view.

The company has been quiet of late, but we know they've been doing more low risk drilling to firm up and expand the zinc/lead resource, so I might as well hold and wait for the company to announce some results.

I've got a lovely round number of shares now....so I'm pretty keen to keep that number intact.

[FarmerGeorge]

Fair enough HC, if it's worth holding, it's worth holding plenty!

[foxysfolkfaced23]

i suppose our former director is off loading his shares now that his resignation is announced............19c at the moment.

[FarmerGeorge]

Wasn't aware a Director had resigned Foxy, care to elaborate?

[soulman]

Hi FG

Yeah, I considered taking a quick profit on some or all of the 99,000 shares I picked up last week at 20/20.5c, but haven't acted upon it so far.

I'll probably hold all of them, even though I suspect the current run is likely over. My focus with PDZ from the very beginning has been with a long term outlook, and nothing has really changed that view.

The company has been quiet of late, but we know they've been doing more low risk drilling to firm up and expand the zinc/lead resource, so I might as well hold and wait for the company to announce some results.

I've got a lovely round number of shares now....so I'm pretty keen to keep that number intact.

Hindsight HC said that disposing half your stake in the 30's might be a prudent way to go and hence, here is your chance to pick them up now.

A sorry seller for 5000 shares at the close (valued at $1k) pushed the shares down more than 10%. Sometimes, you just don't get their motive or rational decision.

[Huang Chung]

Hindsight HC said that disposing half your stake in the 30's might be a prudent way to go and hence, here is your chance to pick them up now.

A sorry seller for 5000 shares at the close (valued at $1k) pushed the shares down more than 10%. Sometimes, you just don't get their motive or rational decision.

Yeah, ol' Harry Hindsight is a very smart fellow. I didn't end up selling, so have watched those paper profits evaporate. But, I did sell my NMS holding and picked up another 100,000 PDZ shares between 25c and 22c yesterday and today.

We're basically back to the project being valued by the market at around $9-$10 million. Unsustainable in my view.

[tricha]

Yeah, ol' Harry Hindsight is a very smart fellow. I didn't end up selling, so have watched those paper profits evaporate. But, I did sell my NMS holding and picked up another 100,000 PDZ shares between 25c and 22c yesterday and today.

We're basically back to the project being valued by the market at around $9-$10 million. Unsustainable in my view.

Hmm, u must have to much money

[Huang Chung]

Yeah, if only!

T, PDZ can bounce hard, as we saw less than a forthight ago. While PPP sat motionless around 20c, PDZ went from 18.5c to 35c in a matter of a 2 or 3 days. OK, I didn't cash in my chips, but the opportunity certainly was there.

A relatively small outlay currently buys you a substantial chunk of the company.

- 5km of copper outcropping that is being valued at zip by the market.....5 diamond drill holes into these zones all mineralised (assays pending).

- 1.6m/t of high grade zinc/lead/silver.....2.5m/t will give them 5 years of high grade production (assays pending). Very good chance of achieving this. Mineralisation is at shallow depth, and is in the form of several 'stacked' lenses, which should result in a low extraction cost.

- roughly $6m in the bank (my estimate).

- $16m market cap.

Big risks for sure around financing and metal prices, but I do believe that, if you take a long term view, we'll work through these problems and there will be better days ahead. But, as I've said before, not one for the feint hearted......

[tricha]

Hmm so PPP could take out PDZ for a lousy 16 million.

I'd be very disappointed if they did Huang, the supercycle is over, brought about by a black swan, "peak oil 2005"

Coal piling up at Chinese harbors on weak demand
(www.chinamining.org)
Updated: 2008-09-28 08:43
Counter: 237

China is seeing more and more coal pile up at major transport harbors due to a weakening demand for the fossil fuel.

An official with the Qinhuangdao harbor bureau said Friday, on condition of anonymity, that Qinhuangdao harbor in northern China recorded a coal pileup of 8.44 million tons as of Sept. 16. That is at least 3 million tons more than regular levels. He added, every day for the past two weeks, the surplus of coal has increased by 100,000 tons.

Qinhuangdao harbor is the largest coal transport site in China.

Its coal storage acts as a barometer of the coal market across thecountry.

The official said the harbor was only able to accommodate a coal pileup of 10 million tons.

A surplus of coal at major consumption are as is also increasing.

The Guangzhou harbor in southern China had about 2.2 million excesstons of coal as of Sept. 17. That's compared to a storage of 1.7million tons at the beginning of June.

According to Guangzhou Port Group, trading volume has decreasedsince July, with a monthly turnover of only 3 million tons. In May and June the group was turning over 4-million-tons.

Coal is also piling up for major coal consumers.

According to Xie Juchen, head of the fuel section of China Electricity Council, coal pileup was 19.62 million tons in July.

That's enough to meet a 10-day demand. At the beginning of September, the figure went up to 29.3 million tons, or enough for 15 days, Xie said.

Official data showed nationwide coal supplies in August were at 70.76 million tons. However, coal consumption was at 62.25 million tons, leaving 8.51 million tons to pile up.

Industry observers credited the mounting pileup to less demand.

For one, electricity enterprises used less coal during the Beijing Olympics and Paralympics because production was restricted, said Xie.

In the long term, however, global economic slowdown received the majority of the blame for the country's excess coal.

According to Wang Ling, a coal analyst with the United Metal Web,the slide of the economy squeezed demand for electricity, that from thermal power enterprises in particular.

Besides, Wang said, a relatively cool climate reduced demand for power this summer. He added, abundant rainfalls also ensured easier access to electricity generated by hydro power plants.

According to data provided by the National Bureau of Statistics, China generated 2.323 trillion kw of electricity in the first eight months of this year, a growth of 10.9 percent on the same period of last year.