Macpherson's Reward (MRP)

Discussion in 'Stocks & Derivatives' started by SilverSanchez, Apr 17, 2012.

  1. SilverSanchez

    SilverSanchez Active Member

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    (Web Site) http://www.macphersonsreward.com/

    (brr event today) http://www.brrmedia.com/event/95967/morrie-goodz-managing-director

    215mil Shares on Issue

    Market Cap is about $74Mil

    8.5Mil ounces of Ag resource (inferred) in an old open pit mine, with mill/processing plant (Nimbus Silver Project, WA)

    $25mil cash
    $0 debt

    My slack loose valuation is max 0.70c per share value with this Ag resource only
    Very loose, not taking into account mining cash costs, polymetal credits, value of other assets, future dilution etc etc

    currently trading at 35c but may come back to 0.29 or 0.30

    Small spec near term producer - i believe risk is less than potential reward

    Just offer it up for you guys to do your own research and crunch your own numbers
     
  2. Au-mageddon

    Au-mageddon Active Member

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    Thanks SS .. its always great to see your thoughts on mining stocks
     
  3. SilverSanchez

    SilverSanchez Active Member

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    ooops maybe they wont get back :)
     
  4. SilverSanchez

    SilverSanchez Active Member

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    Nice drill intercept....

    This deposit keeps looking better and better
     
  5. SilverSanchez

    SilverSanchez Active Member

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    Ashok makes up most of 37% management owned shares
    Silver Superpit will be economical, only question is how much and how long (and the dilution question)
    They can fund development (or at least fiscally manage development) by mining ore contained in massive sulfides in existing (under expansion) 400ktpa silver processing plant.

    Ive been topping up @38c, bringing ave buy-in to 33c (would have liked to have kept it under 30c but the game has changed for the better IMO due to recent drilling)

    I bought ARD thinking it was the second place getter for silver plays on the ASX, but I think this stock will be and could challenge CCU for the top spot in the Australian Silver space.
    Its not there yet though still 12m ounces defined - but recent drilling will result eventually into an upgraded resource estimate.
     
  6. SilverSanchez

    SilverSanchez Active Member

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  7. SilverSanchez

    SilverSanchez Active Member

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  8. J-Money

    J-Money New Member

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    Any idea what the big drop was about today? Seems to be a lot of people selling.
     
  9. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    It's back on the rise today.
     
  10. VRS

    VRS Well-Known Member Silver Stacker

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    Wow - up 11%+ today off the back of the Nimbus zone super-high grade results yesterday - that's serious mineralisation at 54g/tonne for Au, 898g/tonne Ag - I grabbed some last week on the dip at 37c, currently sitting at 44c. Nice call SS.
     
  11. Spode

    Spode Member

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    It's down a little but will have to see if it gets below 40c. I might buy then.
     
  12. J-Money

    J-Money New Member

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    Kicking myself for not buying back on the 18th!
     
  13. SilverSanchez

    SilverSanchez Active Member

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    I topped up @0.135, i still think this deposit (or these deposits) are worth it, and they keep getting better. The market has forgotten about it.
    Mcpherson will be in production within 18months with good grade zones of silver from the bottom of the existing pit.

    Recent disclosures to the market (most recent first)
    Boorara Intersection Exceeds 3 Ounces per tonne Gold (PDF)

    Boorara Drilling Update up to 13g/t Gold in Stockwork

    Gold-silver-zinc zones confirmed within 500m of DiscoveryPit (PDF)

    MacPhersons to Acquire Additional Tenements at Nimbus-Boorar (PDF)

    Boorara Gold Mineralisation Extended Over 2km

    Boorara Gold Zones and Nimbus Development Plan at RIU Sydney

    Boorara Drilling Delivers Stockwork Gold
     
  14. Greenman

    Greenman Member Silver Stacker

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    Thanks SS. Got this one on my watchlist.
     
  15. Greenman

    Greenman Member Silver Stacker

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    MRP 0.130 0.135 0.135 -0.005 -3.57 0.135 0.135 0.135 63,800

    What the!!!

    Did no one want it today?
     
  16. SilverSanchez

    SilverSanchez Active Member

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    No of course not - liquidity issue on the buy side, only 100,000 (effectively buyable) too much money and you move the price too high.
    But..
    Why buy this stock today when slr a producer was in the 50s, or evn was in the 50s

    Dont worry, Jim Dines says watch for the stragglers - when the juniors move mrp will move to. Just a bit of patience.
     
  17. SilverSanchez

    SilverSanchez Active Member

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    I still ike this stock even though didnt move during the last few days.
     
  18. SilverSanchez

    SilverSanchez Active Member

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    These guys are undervalued trading under book value.

    I think the share price is going to 17c, I own a good chunk of shares and bought a good portion of what was sold on Friday so im in (disclosure)

    I think its a good buy short term at least, but dyor and own risk of course

    http://www.mrpresources.com.au/

    this is the new website

    1c of share price is just the cash ($3.4m as of last report) and future cash from sale via instalments of $5m

    Top 40 shareholders own 72%
     
  19. SilverDJ

    SilverDJ Well-Known Member

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    So what's the catch?
     
  20. SilverSanchez

    SilverSanchez Active Member

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    They are Just misunderstood I think
     

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