Macpherson's Reward (MRP)

SilverSanchez

SilverSanchez

Active Member
(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
 
Bullion Baron said:
Met up with one of the Hot Copper users at last years Gold Symposium and he knew the chairman of this company Ashok, so introduced me and Ashok told us about this company. If I recall correctly their main project is only a couple of kilometres from one of SLR's flagship projects (can't remember which) and prior to MRP taking over it's current project it was privately owned (so not as heavily explored as some projects have been when they've gone from public company to public company). From what I can gather Ashok was fairly involved with SLRs early days/startup (and also owns a big stake in SLR) and the MRP MD Morrie was also heavily involved with SLRs Daisy Milano project.

Some very experienced management who have deep pockets and they've got a big stake themselves in this company which is always a good sign.

On my watch list :)
Click to expand...
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.
 
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.
 
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
 
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?
 
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.
 
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%
 
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