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Looks like PEM will open at 49c that's 12% up from yesterdays close with buyers eating up 10 levels of sellers........looks like we may crack 50c today
cheers
cheers
PEM - Perilya Limited
- Thread starter brerwallabi
- Start date
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- pem perilya limited
tech/a
No Ordinary Duck
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Excellent been pyramiding into these for a couple of days.
Time to get out now everyone wants them!
Time to get out now everyone wants them!
tech/a
No Ordinary Duck
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That was enjoyable.
One to keep on the watchlist.
Small miners have been good lately.
I'm filling up space with idle rubbish.
One to keep on the watchlist.
Small miners have been good lately.
I'm filling up space with idle rubbish.
Hello PEM followers, looks like PEM is primed for another break up as its formed an ascending triangle on low volume. Would be interested to hear what others think of this?
I wont upload the chart again so view chart here https://www.aussiestockforums.com/forums/attachment.php?attachmentid=30674&d=1243758894 posted on potential breakouts thread.
I wont upload the chart again so view chart here https://www.aussiestockforums.com/forums/attachment.php?attachmentid=30674&d=1243758894 posted on potential breakouts thread.
Statement today after the close made by Perilya:
"QUARTERLY ACTIVITIES REPORT FOR THE THREE MONTHS ENDED 30 JUNE 2009
The three months ended 30 June 2009 represented a consolidation of the new operating plan at Broken Hill, which has resulted in a vastly improved performance over the corresponding period last financial year. This improved performance under the new operating plan coupled with the post end of quarter termination of Perilya's silver sale arrangements has helped build a platform for Perilya to now pursue new growth opportunities."
"QUARTERLY ACTIVITIES REPORT FOR THE THREE MONTHS ENDED 30 JUNE 2009
The three months ended 30 June 2009 represented a consolidation of the new operating plan at Broken Hill, which has resulted in a vastly improved performance over the corresponding period last financial year. This improved performance under the new operating plan coupled with the post end of quarter termination of Perilya's silver sale arrangements has helped build a platform for Perilya to now pursue new growth opportunities."
Given I have been so critical of Perilya before, it looks like CEO Paul Arndt has really turned the company’s fortunes around. Cash costs have fallen from >$1 to <$0.40 over the past 12 months. Margins are quite healthy and there seems to be plenty of upside with the Mount Oxide copper/cobalt project turning into a fairly decent deposit with more drilling to come. Very impressed with the turn around, I thought this was pretty much dead and buried a year back. Maybe they should takeover CBH’s Broken Hill assets and do the same. Would be a very profitable venture if they could do the same and increase the scale. Also given that cash costs were $0.38/lb of zinc even though there was a 9 day power outage is even more impressive.
Negatives seem to be the dilution that occurred when the Chinese bought a 50% stake and the heavy reliance on lead (i.e. both price and production rates) as by product credits and its effect on cash costs. Direct costs are still very high. So any correction in the price of lead will likely have a considerable effect on cash costs. May be one to keep an eye on for directing some spec money if base metals continue to improve.
Negatives seem to be the dilution that occurred when the Chinese bought a 50% stake and the heavy reliance on lead (i.e. both price and production rates) as by product credits and its effect on cash costs. Direct costs are still very high. So any correction in the price of lead will likely have a considerable effect on cash costs. May be one to keep an eye on for directing some spec money if base metals continue to improve.
"Last night Broken Hill City Council Held an extraordinary meeting Re: Heavy vehicle bypass around Broken Hill this is great news to PEM as it opens up a trucking route for the Potosi/Silver peak , The North Mine & the Flying Doctor open cut mines to deliver ore to the mill at the southern operations."
Quote from Hotcopper.
Quote from Hotcopper.
TRADING HALT - ACQUISITION
http://www.canadianbusiness.com/markets/headline_news/article.jsp?content=b4760676
TORONTO - GlobeStar Mining Corp. (TSX:GMI) said Wednesday it has signed a deal to be bought by Perilya Ltd. in a deal that values the company at $221 million.
Perilya, an Australian company, has offered $1.65 per common share in cash.
GlobeStar shares closed up two cents at $1.27 on the Toronto Stock Exchange.
The deal requires approval by at least two-thirds of GlobeStar shareholders.
Perilya is the operator of the Broken Hill zinc, lead, silver mine in New South Wales, Australia, and the Beltana zinc mine in South Australia.
China's third largest zinc producer, Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd, holds a 52 per cent stake in the company.
GlobeStar owns the Cerro de Maimon mine in the Dominican Republic.
http://www.canadianbusiness.com/markets/headline_news/article.jsp?content=b4760676
TORONTO - GlobeStar Mining Corp. (TSX:GMI) said Wednesday it has signed a deal to be bought by Perilya Ltd. in a deal that values the company at $221 million.
Perilya, an Australian company, has offered $1.65 per common share in cash.
GlobeStar shares closed up two cents at $1.27 on the Toronto Stock Exchange.
The deal requires approval by at least two-thirds of GlobeStar shareholders.
Perilya is the operator of the Broken Hill zinc, lead, silver mine in New South Wales, Australia, and the Beltana zinc mine in South Australia.
China's third largest zinc producer, Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd, holds a 52 per cent stake in the company.
GlobeStar owns the Cerro de Maimon mine in the Dominican Republic.
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That is very interesting, Zinc and Silver at home now Copper and Gold overseas.
if they can work the rest of globestars plot then things could be even more interesting.
Cerro de Maimón, a copper/gold deposit in the Dominican Republic, is GlobeStar’s primary operation. Cerro de Maimón hosts approximately 6 million tonnes of open-pit copper/gold reserves, as reported in a National Instrument 43-101 compliant technical report dated August 2007 by independent consultants. The Cerro de Maimón property, and surrounding 3,391 hectare exploitation concession, was acquired from Falconbridge Dominicana (Falcondo) in April 2002. Falcondo retained a 2% NSR of which GlobeStar purchased 50% in 2008. The company owns 100% of the deposit, subject to the remaining 1% NSR retained by Falcondo. The Dominican Secretary of State of Environment and Natural Resources granted the Environmental License to GlobeStar to mine the Cerro de Maimón mineral deposit in 2004.
There is potential for expanding the reserve base of the operation from satellite deposits in GlobeStar's 100% owned Maimón Concession surrounding the Cerro de Maimón deposit. The Maimón Concession covers approximately 85% of the Maimón massive sulphide belt
if they can work the rest of globestars plot then things could be even more interesting.
Cerro de Maimón, a copper/gold deposit in the Dominican Republic, is GlobeStar’s primary operation. Cerro de Maimón hosts approximately 6 million tonnes of open-pit copper/gold reserves, as reported in a National Instrument 43-101 compliant technical report dated August 2007 by independent consultants. The Cerro de Maimón property, and surrounding 3,391 hectare exploitation concession, was acquired from Falconbridge Dominicana (Falcondo) in April 2002. Falcondo retained a 2% NSR of which GlobeStar purchased 50% in 2008. The company owns 100% of the deposit, subject to the remaining 1% NSR retained by Falcondo. The Dominican Secretary of State of Environment and Natural Resources granted the Environmental License to GlobeStar to mine the Cerro de Maimón mineral deposit in 2004.
There is potential for expanding the reserve base of the operation from satellite deposits in GlobeStar's 100% owned Maimón Concession surrounding the Cerro de Maimón deposit. The Maimón Concession covers approximately 85% of the Maimón massive sulphide belt
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G Gekko
Formerly known as 'Murdoch'
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PEM hasn't been posted about a lot lately. At 15c a share I think it's a steal. They are still making a strong profit despite a downgrade on last year and if past performance is anything to judge seem well positioned to rise in the future. I consider them fundamentally undervalued by a negative market on commodity exposed companies.
On these notes, I placed an order for 6,250 shares with a limit of 16c. I don't paying a little bit more than the closing price because I view getting in on this stock a good opportunity.
On these notes, I placed an order for 6,250 shares with a limit of 16c. I don't paying a little bit more than the closing price because I view getting in on this stock a good opportunity.
They certainly have their problems but it would be premature to write them off, IMO. It may be some time before lead, zinc, silver prices rebound to better levels but meanwhile the lower AUD is working in PEM's favour. I'm keeping it on my watchlist.
UMike
Klutzing in Thai
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TO for PEM?????
Zhongjin Lingnan Proposal to acquire Perilya at $0.35/share
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01440798
Currently trading 31.5c, 3.5c discount to the TO price. Doubts about it's success?
Zhongjin Lingnan Proposal to acquire Perilya at $0.35/share
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01440798
Currently trading 31.5c, 3.5c discount to the TO price. Doubts about it's success?
