Hi all , just a few thoughts on some small cap junior miners which i think are significantly undervalued and why
SRI MC of +-32 million, small compared to it's neighbours in Doolgunna region .Tuesday is the day Affluent , it's proposed JV partner for Thaduna and Ilgarari has to pay up and commit to 30 million expenditure for the JV ...this is a massive amount for a junior with MC 32M .Currently drilling at both Panorama and Tennant Creek also .Good drill results from either of these should give a significant lift to current Sp . I expect that Monday will see last minute waiverers get set for Tuesday's JV announcement .Also I don't see any recognition in the current SP for the massive Woodline leases . Remember if Sandfires recent hits are fault controlled then SRI holds an huge position along the Jenkins fault
ALY Of all the Doolgunna mob close to Sandfire ,i feel that ALY has the best chance of replicating SFR's success . Also it already has a JORC on the Hermes area and a MOU with Barrick Gold for processing Hermes ore .I think they will be the first of the Doolgunna mob to actually start mining. Further assay results pending from drilling on fault lines on the Hermes prospect . Drilling to start in the next few months on their lease adjacent to SFR as well as their Murchison leases .Don't forget the recent announcement by SFR of VTEM results showing the mineralization extending from SFR leases into ALY three rivers area .
JRL In yesterdays AGM the chairman pointed out that JRL's current SP is trading at a large discount to their realizable value in cash and shares .Furthermore he made a commitment to return a significant "dividend" in some form from the upcoming sale of a portion of their shares in EME to a chinese investor which already has FIRB approval .Also JRL holds 16.3% of ALY and about 4.5% of GTE
GBZ GBZ has seen some movement up this week after releasing SAM survey which indicates large areas of mineralization across their leases . I think we should remember that their land area is significantly larger than their near neighbours QMN and CDU . if they can replicate even a portion of CDU's drill results then IMO their is significant blue sky in front of them .They are preparing to drill and are well cashed up to drill the hell out of their leases
EXS EXS is a well cashed up neighbour of GBZ with some big boys on their top 20 holders list .After looking at GBZ's SAM results I believe that the mineralization extends from the area around T3 and T4 in a south easterly direction into EXS . Coincidentally there are also a myriad of faults across GBZ which also extend into EXS . Their White dam project will begin production first quarter 2010 and provide a regular source of cash as well .Interestingly their SP didn't move up this week like GBZ and posters on EXS thread seemed blissfully unaware of what was happening next door
TRM well positioned junior in Tennant Creek area currently drilling their Westminister prospect .Regular buying by directors and tightly held .A good punt i feel
TUC good leases adjacent to THX and also in Tennant creek area .Currently drilling at both Daly river project and also in Tennant Creek . Good assay results from either would see the SP move sharply upward
