A great stock to get set into is pkt.
Have a little read.
Subject: pkt : a 5 cent uranium play
Stock Code: PKT - POCKETMAIL GROUP LIMITED
Posted: 28/03/07 23:28 Hotcopper Radio: PKT on BoardRoom Radio
Posted By: shot Views: 109
Post #: 1665349 (Start of thread) Sentiment: Buy
IP: 124.177.xxx.xxx Voluntary Disclosure: Stock Held
So, you’re standing on the sidelines watching PKT and you just can’t bring yourself to invest in a prospective Uranium company called ‘Pocketmail’? Well, take a closer look.
At this point in time, the Company has not officially ‘changed the nature of its activities’ (see Listing Rule 11.1 on ASX site). I would assume that the shareholders would approve the acquisition of Adavale (Uranium exploration Company) at the General Meeting on April 16. With a drill rig already secured from Tasmania and ready to go, drilling of either Lake Surprise (SA) or Springvale (QLD) could (and probably will) start almost immediately. We already know there is significant surficial Uranium on both projects, but we do not know how much and in what concentrations. If initial drilling results are promising… it is at that point that the Company will probably decide to devote further resources to the project and thus notify the ASX of a significant change in the nature of it’s activities… re-list with a new prospectus and a more appropriate name, etc…
The benefit to the Company (and its shareholders) in doing it this way, rather than shutting down Pocketmail and listing a whole new Uranium exploration company is much less expense, much less paperwork and much less time taken to make the change.
Erongo Energy (ERN) has recently done something very similar with great success. It was previously Louisiana Petroleum (LOU) and since they announced that they were going into Uranium in August last year, their share price has risen from 10 cents to 60 cents. Now I know that going from Technology to Uranium is a little more drastic, but they have ‘bought-in’ the required experience and expertise to take on the new operations. Taking advantage of new opportunities as they arise is a key factor in business success.
If you do some research, more detailed maps of the tenements are available and it looks to me as though they have some very prospective ground. The 3 leases of Lake Surprise are right next door to the Beverley U mine, Mt.Gee (Marathon) resource and also Eromanga Uranium (ERO), which has just recently discovered a new palaeochannel on their land (Marree Project).
They have another 10 leases at Springvale, which also looks promising. From previous announcements:
“Exploration within the project area has been limited to nine stratigraphic holes drilled to test radiometric anomalies in the Springvale area in 1972. The holes intersected the Toolebuc Formation and gamma ray logs were well off the scale. Samples recently taken from the Geoscience Australia library core at intervals showing high gamma counts were found to contain significant uranium.
The prospectivity of the project is confirmed by:
- the presence of significant concentrations of both vanadium and uranium in the Toolebuc Formation and in Tertiary calcrete;
- the large area (600km2) with a strong uranium radiometric signature;
- the strong radiometric anomalies seen in bore holes;
- the presence of either shallow Toolebuc Formation or suitable trap sites close to large areas where the Toolebuc Formation has been eroded; and
- the large amounts of uranium and vanadium that have been eroded and moved through the Hamilton – Georgina River system.
There are three sources of the uranium in the project area. The Toolebuc oil shale, the uranium carried by the waters and sediments of the Georgina and Hamilton rivers which drain the uranium rich Mt Isa block and both the alkaline artesian water and the plutonic waters from the basement of the great artesian basin. Rocks of Mt Isa Block form the basement in the project area are known to be enriched in uranium.”
As it is all surficial Uranium, they will probably use in-situ leaching to extract the yellow cake (if it gets to that stage) - safe, relatively inexpensive and efficient.
There are more shares on issue than we would probably all like to see, but it still appears to be a very tightly held stock… and having plenty of shares on offer certainly hasn’t hindered the movement of Western Metals’ (WMT) share price.
My personal thoughts are that a share price of 10 cents within the next 6 months should be a formality. Should the drilling return good / great results… your guess is as good as mine! Once she finds her new level after this recent gallop, I can’t see too much downside. I am aware of a few very astute / well-credentialed investors stocking up in the 3 and 4 cent range, so that is re-assuring.
When you consider what might be on the horizon for Australian Uranium (have a read of this: http://in.today.reuters.com/News/newsArticle.aspx?type=worldNews&storyID=2007-03-27T151557Z_01_NOOTR_RTRJONC_0_India-292395-1.xml), I wonder if anyone will look back in a few years and say… I had the chance to buy that when it was 5 cents.
I think there’s more to PKT than meets the eye.
GPN
greater pacific gold limited
