what to look for near term...

Should see back-to-back announcements soon in my opinion...

Including native title agreements, commencement of uranium exploration in NT, results of ground radiaometrics in WA, completion of due dilligence on new acquisitions (iron and coal), placement (perhaps the introduction of an institution to the register?), etc, etc...

I have added an old post a month ago...

It gives a pretty good summary of the news we can expect...interestingly, we have not seen any news on the issues mentioned, no doubt a result of the distraction of the recent suspension?

Since that post, there has only been 6 trading days (including today) due to the suspension...in spite of this, we have seen the consolidation of a 10c price rise.

We are only scratching the surface of the value here in my opinion.

Anyway...here is the post...

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Subject looks to have been given the nod...
Stock Code SRK - STRIKE RESOURCES LIMITED
Posted 05/06/06 18:49
Posted by trade4profit
IP 147.69.xxx.xxx
Post #1095428 - 149 reads
Start of thread

Still time to get in cheaply in my opinion...

Most of the buyers in recent sessions have not only shown extreme patience, but they have also shown exceptional timing.

This suggests mostly professional activity.

Given the relatively tight volumes for a stock that has risen so far in such a short period, one must assume that certain parties are trying to squeeze every last share out of this thing before letting it run.

This is not typical of a pump and dump scenario as some have suggested.

Further, I feel the market is yet to fully absorb the magnitude of the recent Peruvian acquisition...itself, a massive company making project, with reported resources of over 1.2b tonnes of direct shipping grade iron ore (62-66%)

That's half (perhaps more) of an FMG hiding within the existing SRK company structure!

It is quite clear to me that Shanker Madan came to SRK with this project in his back pocket...I suggest all he needed was an appropriate vehicle to get it to market, which he obviously feels SRK is.

Given his previous time with RIO, one is inclined to understand the frustration of having your hands otherwise tied in the Pilbara...it is however due to this very reason that I suspect Peru might actually be something he has been waiting to bring to life for some time?

I feel this is the main game...and the rest is just a vehicle to get it to market.

Perhaps more on this another day.

Anyway, next is the uranium near Bigryli and adjacent to and on strike with EME's ground...again, another possible company maker, but of course, we don't know for sure yet. Native title should be sorted some time this month and given EME's recent success, any activity here should see a decent level of interest from the market.

They are also currently conducting ground radiometrics on their WA ground, so I would not be surprised to see an announcement regarding results near-term?

While I’m on WA…they also have a well situated ground near the Paulsens Gold Mine in the west Pilbara, with a 2,500m long ridge containing a hematite conglomerate outcrop, with widths of up to 6m exposed at surface, grading up to 65% Fe….with field work and target definition currently underway, I would not be surprised to see news regarding this shortly?

Personally I feel SRK may eventually become a uranium focussed entity, with their iron and coal interests spun off, either collectively or individually, leaving SRK to concentrate on the balance of their assets, which of course would be uranium...but not before they are close to initial production and/or cash flow on the iron/coal fronts.

This puts early 2007 as a possible spin-off target date, which is when initial incomes from trial mining of the iron ore and/or coal production is expected to commence.

Ultimately however, the timing of any coal/iron spin-offs may well be determined by the outcome of the immanent exploration program on their NT ground, with a June start possibly on the cards.

Did I mention coal yet? lol…which brings us to the Kalimantan coal equation. Yet another company maker, with a ready-made market and a premium product; a medium calorific, low ash, low sulphur thermal coal, with a market ready resource, plenty of upside and short/mid tern income potential. Drilling currently underway to both confirm and extend existing resource outlines, so yet another area from which news may emanate near-term. It must be noted this is still subject to due diligence, with the last of the drilling results due end June and final decision on the acquisition in by 15 July.

Finally...sections of the media, select brokers and a fairly well disciplined group of shareholders seem to be giving this one the thumbs up...usually all the signs of a serious player in the making.

So..all in all, it seems they have put together a pretty good package of projects…and at tonight’s close, you get all this for just $28.6m with $2m of that cash…($45m and $7.5m cash fully diluted)

Cheers!