Hi all,I went to a Proactive Investors event last night....

Hi all,

I went to a Proactive Investors event last night. Sometimes some stocks jump a bit the next day after such events. Of course, the jump could be because of good salesmanship or because people think the company is good value. Anyway, here are my thoughts, fwiw:

NVG: Drilling for gold in Nevada. Lots of high-grade large-deposit nearology. Cashed up till end of next year. Plenty of drilling in next 3 months so expect good news flow. Tiny m/c of $9m. I liked this one the most because of the low m/c and potential high grades and near-term news flow.

IVR: Silver in South Australia. Good grades open in a few directions. $23m m/c at 13.5c. Doing a CR now. Talbot holds 14% and might be selling. Drilling for rest of FY. Aiming for resource June 2012. I reckon CR and Talbot selling might put a dampener on the s/p.

AZX: Share price fell over because of hostile takeover attempt, and this was solved this week. Reckons the fund managers are happy with news. Lots of fiddly stuff happening with the merger, but all done in February. 1-1.5 moz gold reserve expected. Low grade but consistent. Reckons they might produce 150,000 per year. EV $30. Total m/c of the two companies is $100m. 38% institutional holders and more to come. 9.5% held by management. Good infrastructure. BFS end of next year. Cash: $20m, mostly in the merger partner. Will do CR before Christmas. I think the presenter used to be with Ross Mining, and they were great for me in the 90s.

SPM: Has titanium/vanadium. Wants to focus on high grade Titanium production. Huge deposit. Claims that there will be big news over next 6 months. Was selling hard e.g. might get $5,500 per tonne sales at $700 cost. Hundreds of years of mining possible. $7m cash lasting till mid next year. Feasibility next year. Finish drilling by Christmas. $25m m/c. Regular news over the next 3-6 months. I think some punters bought the story.

IRD: This is one for all you day traders who want to change our ways and become long-long-long-long-term investors. Iron in South Australia. Has prefeasibility study. $120m m/c. Huge capex of $2.6b+. Aiming for 30 year mine life. 6-8 years payback. Production target: 2015. Hurdles: port and financing. Will double deposit. So if you are prepared to wait till 2022 for your first dividend cheque, then this is the one for you! Astonishingly, many people liked this one as a solid long-term investment.

Overall, I reckon NVG and SPM might have excited a blue sky type of punter. IRD might appeal to long-term investors. I reckon AZX looked like the solidest medium-term stock.