PIO - Pioneer Resources

The market was hoping for thick spodumene and it just didn't happen in this first round of results. I didn't agree with the trading halt (perhaps directors being overly cautious) and the market sold off accordingly.

Some interesting hits, but no spod. They still have like 80% of the lab results to come back which is good, but early indications is saying stick to their Canada spod projects, Acra for gold and their nickel. Drilling to start very shortly in Canada which is good - confirmed thick spod pegmatites to poke.

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PIO headed into oblivion?
I backed a complete turkey here.

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Gobble... Gobble... Your not the only one!
If mavis lake doesn't produce good, no, great results I think its going to be painful. Being a half glass type of bloke I'm hanging on to find out what happens.
If it all works out in Canada and Newcrest make acra happen = Happy days!!!
Disclaimer... I don't know much about much :(
 
As long as my entire portfolio is up then I can feel better about this loser and look the other way.
I might get my money back eventually...
 
Some interesting posts on HC by John Downs, a cesium expert:

http://hotcopper.com.au/threads/ann...oject-nst-pio-ax.2979167/page-3#post-20389250

Shaneos - Yes, I am John Downs and , as you can see from my profile on LinkedIn, etc, I developed cesium formate brine for the oilfield market while I was with Shell in the early-90's. I am a cesium formate expert/consultant/broker and my website is : www.formatebrine.com. As I am semi-retired my son Carl Downs runs Formate Brine Ltd on a day to day basis. Formate Brine Ltd is not to be confused with Cabot Specialty Fluids who have a website at : www.formatebrines.com.
Cesium formate brine is a spectacular oil/gas well drilling and completion fluid but its adoption by the oil industry has been hampered somewhat by its limited availability. If there are commercial quantities of good-quality pollucite ore in the Dome then Pioneer will have no problem finding buyers for this rare but valuable mineral. Let us hope that this is a TANCO-sized deposit of cesium ore.
I will be watching developments at Pioneer Dome with great interest. For an insight into the value of a single cesium mine read the financial reports of Cabot Corporation for the past 16 years. In the meantime, if anybody out there wants more info on cesium and its use by the oil industry I'll be happy to help.
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If there are commercial quantities of good quality pollucite ore in the Dome then I am fairly certain that one or another of the big cesium users will want to access it. Remember that drilling a single deep gas well can require something like 600 metric tonnes of cesium formate brine containing up to 80% cesium formate, and losses can be 20% per well . The volumes required for drilling deepwater wells are even larger. The current supplies of cesium for drilling applications are limited and there is a significant demand for new high-grade pollucite resources to replace losses. For anyone wanting to know more about the importance of cesium (formate) to the oil industry just download the publications available on the home page of my website at www.formatebrine.com. The website also has links to the 30 + papers I have written on the subject of cesium formate brine over the past 25 years.
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Cesium and cesium formate has been my life since 1991, and I am probably the world's leading expert on the use of cesium formate by the oil industry. There have been no new discoveries of high-grade pollucite for half a century , and we urgently new sources to keep up with demand. I am hoping that the stampede for lithium in Australia will uncover more seams of pollucite over the coming years. Keep exploring those pegmatites !
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What a day from PIO on the back of quite a positive announcement. Maybe this is where things turn around for PIO.... we can only hope.
 
Dabloodymess said:
What a day from PIO on the back of quite a positive announcement. Maybe this is where things turn around for PIO.... we can only hope.
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You beat me to it..!!!
If they get spod strikes in the rest of the drilling, it's happy days :)
If not, the SP is going to get hammered, and I would have done me dough... again :0
 
Yeah it was a very nice day with big volume (30.31m). I would like to see it hold around this price for a while and build support.
 
Glad I doubled up on these when they went down to 1.7 , I am now even at today's price of 2.6 ......... onwards and upwards !! hopefully
 
olifrated said:
Glad I doubled up on these when they went down to 1.7 , I am now even at today's price of 2.6 ......... onwards and upwards !! hopefully
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I thought about it at 1.7c but was already heavily oversubscribed so decided not to add more weight. The usual story :rolleyes:
 
Yeah, I averaged down at that price as well. I'm in large @ 0.028. It's a bit of a risk digging a deeper hole when things aren't looking rosy but I believe there's a lot of upside in PIO.
 
Anyone taking up the PIO share options closing on Oct 9th?
0.014/share, last close was 0.015, up to $15k worth.

Of course the more people that take it up, the more the shares get diluted, so it's borderline at 0.014/share.
 
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