Lyxr $ Frn Discussion Threads

[mattybuoy] 30/9/2010 17:30

Here's another fraccing play which may be of interest:





I'm always a sucker for cheeky ticker symbols ... :-)

The play here is the "Alberta Basin Bakken", which despite the name is actually mostly in Montana. This area is already seeing some production from the likes of Rosetta Resources (NASDAQ:ROSE) who as a result have a market cap in excess of $1bn, whereas the yet to produce PIE is worth less than $100m.

[jonno1] 30/9/2010 06:55

Well done Matty, been watching hoping to get in lower

[mattybuoy] 29/9/2010 23:00

Canadian broker Wellington West initiate coverage of Tag, with a $3.80 price target, which was nearly breached today ...



N.B. I just copied the link from Stockhouse, guv.

[mattybuoy] 29/9/2010 18:17

Good news from Tag Oil in the Taranaki basin:

The Sidewinder-1 well was drilled to a total depth of 1,601m, and encountered 14 meters of net (22m gross) oil-bearing sandstones in the Mt. Messenger Formation. Electric logs indicate excellent reservoir qualities, with average porosities of 22.5% and oil saturations of 60%.

[langland] 25/9/2010 19:44

I am pleased to see Mountain Lake also getting recognition now for their antimony prospect. They also did a deal on Friday to buy the Glover Island gold prospect in Newfoundland which has a non compliant resource of 280k ounces. They effectively paid $7 per ounce for this. It is worth looking at the Stockhouse thread on this for more informed comment. The. mkt. cap is still only about 30mn cad so has multi bagger potential.

[mattybuoy] 25/9/2010 18:12

Antimony

From Stockhouse ...

Apparently James Dines (he who originally called the REE boom a few years ago) is now going on about antimony, which is another metal in a very similar boat. The only problem is, apparently there are no stocks available to play this metal.

Well, that's not quite right. It's true there are no pure plays available but there are a couple of gold-antimony companies around.

Firstly, we have MOA.V Mountain Lake (already mentioned on the thread) who are exploring for gold in eastern Canada with some very good results at the free carried Valentine Lake prospect. However, just a couple of weeks ago we had this:



This prospect is on trend with North America's only producing antimony mine at Beaver Brook, which is owned by the Chinese. You'd have to say that for a metal which currently prices somewhere between copper and nickel, 50% is not too shabby a grade at all.

Secondly, we have MND.T Mandalay Resources, which bought Cambrian Mining's Costerfield gold/antimony mine in Australia after the merger with Western Coal made it "non-core". This is only a small mine, but it's already producing, and the company says that there is significant exploration upside in the vicinity. The company is mostly a gold/silver play though, with a new mine just starting up in Chile.

Disclaimer: I now have some of both of these since they look like goodies even if you totally strip the antimony out the equation. It could be a nice kicker though.

[laserdisc] 23/9/2010 21:09

news must be due soon they said 2weeks on 8/9/2010
it may take up to 2 weeks or more before initial production numbers are known
anything better than 100bpd would be good

[mattybuoy] 22/9/2010 22:56

Forgot to mention ...

Continental Nickel is keeping up with the boring old nickel discovery routine.



The drilling continues to outline a wide, south plunging and west dipping zone of largely disseminated nickel-copper sulphide mineralization which is open in all directions. The initial drill results to date suggest grades similar to existing large tonnage, low grade deposits such as the Mount Keith nickel deposit in Australia. Mount Keith is operated by BHP Billiton and is the world's largest open pit nickel sulphide mine.

It amazes me how neither CNI itself nor the parent IMX Resources (IXR.AX) ever react to these world-class intersections. I must learn patience ... :-)

[mattybuoy] 22/9/2010 20:22

This is an interesting (detailed) read if you want to see what's involved in developing a serious mine up in the Arctic, like Darnley Bay might become.



It's about iron ore on Baffin Island, and incidentally the company involved has just received a takeover offer of over $300m.

[mattybuoy] 22/9/2010 15:04

Yes me too.

The fact that they have gotten themselves a Pinksheets quote in the US leads me to believe that a newsletter tip might be in the pipeline. You can imagine what that sort of volume could do with the silly amount of shares available.

[cagey76] 22/9/2010 12:22

Matty, I had a very small punt on CAY earlier this week, this is good news.

[mattybuoy] 21/9/2010 22:14

Well it couldn't last. Cache Exploration is increasing its share count, from 11m odd to 13m assuming full take up of this offering:



However, note the slight premium to market price, and it's still not exactly a huge number.

This also means that they WILL be drilling this year. If you didn't already know, money raised by selling "flow-through" shares HAS to be spent on exploration, it can't just be absorbed into general expenses.

The flow-through tax break for exploration spending is one reason the Canadian market is so successful. Just don't ask me to explain it ;-)

[mattybuoy] 20/9/2010 20:53

Meanwhile, over in yak land, this is why Meritus popped on Friday.



In fact all the first three holes hit gold mineralisation, which is perhaps not that surprising when you consider they are basically twinning the holes Troy did previously. However, that was reported to the ASX years ago, so the Canadians don't care about that ;-)

That said, reading the whole report this is a pretty obvious stonker, and it's still only valued at around $15m fully diluted. I wasn't sure if the Mongolia factor might dampen things down, but seemingly not. Now I just have to wonder why I didn't actually buy any of the sucker :-)

[mattybuoy] 20/9/2010 20:47

Yes I like the look of Valentine Lake, alongside the "strategic" merits of the PGMs. I will be keeping both stocks post the transaction.

[langland] 19/9/2010 10:37

Interesting that Marathon PGM and its deal with Stillwater was picked up here the other day. This is probably just one of many deals likely to occur in the future with the price of gold going up. Marathon are spinning off their gold interests into new company. The main interest is its 50% JV with Mountain LAke (MOA). The latter looks seriously undervalued and has other interests beside its 50/50 with MAR on Valentine Lake. Good informative thread on Stockhouse. Discclosure....I own a lot of MOA shares.

[mattybuoy] 18/9/2010 22:38

If the REE mania persists this one has the potential to pop big time.



There are only 11m shares out (insiders have about 30%), and they should be undertaking the first ever drilling program on their Welsford property in New Brunswick quite soon. Surface samples to date have been very promising, with evidence of substantial HREEs.

The market cap is around $3m ...

[mattybuoy] 18/9/2010 20:23

LOL. Clever isn't it?

[andy] 18/9/2010 19:41

Nice logo!

[mattybuoy] 18/9/2010 17:52

While I'm here ...

Minesite seem to think this one might be worth a punt. Hunting for copper porphyry in Mexico, with drilling underway.

[mattybuoy] 18/9/2010 17:47

They don't have vans in North America. Everything is a truck, even milk floats.

[redredblack] 18/9/2010 17:42

I like the logo too, but van oil, seriously?

:)

[mattybuoy] 18/9/2010 12:55

I like the logo.



It's a Kenya and Rwanda play with a wee bit of production in Alberta to keep the wolves from the door.

[cagey76] 18/9/2010 11:47

Another thread mentions Vanoil Energy being tipped by a tipsheet

[mattybuoy] 18/9/2010 00:07

Here's another chart:



The company felt the need to comment:



Another great name there BTW - "Richard Schnoor".

Basically, there's gold in them thar hills ...