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BTR 21.0¢

wakey wakey mr market

  1. wilto

    1,589 posts.

    Only 108000 shares traded so far today, wouldn't get too excited yet.

  2. chemsol

    214 posts.

    Hopefully it will go up soon

  3. mowibble

    9,993 posts.

    seems to be a bot buying.

    i wonder what is better value for glencore right now, to inject their extra share of the capital, or to just own BTR outright while it is sub $50m

  4. stja

    2,652 posts.

    They have 22m in cash. So they can buy the lot by offering 50c a share. Will only cost them circa 75 mil

  5. buyitlow

    563 posts.

    It's idiotic to think that Glencore would be able to purchase BTR at 50c a share. Approx. 85% of it's current holders are not actively trading and are long termers waiting for the development of Mumbwa. None of the serious long term investors are interested in Perkoa. Perkoa is only ever the de-risking element of the investment, hence why diluting ownership in Perkoa, rather than CR through share issue is the optimal decision.

    Institutional investment has been made in the company at over $1.00 and that was seen as exceptional value at the time, so far as I am aware, the company fundamentals haven't changed and we're in a recovering market.

    It's worth noting that also, of the circa. 85% long term holders I mentioned above, many of them are in at an average over $1.00, including Norsound who I believe is in at over $2!!

    BTR is going nowhere, you won't buy the long term holders shares for $1.00, let alone 50 cents. My own price target on BTR is $2.00, subject the a positive PFS. If the PFS proves an even more profitable Kitumba mine, then a revised price target could be in excess of $5.00. You shouldn't forget that the original resource estimates of contained copper at Kitumba was circa. $16billion (USD).

  6. Dragone64

    1,525 posts.

    Good post. You hit the nail on the head!

    Maybe the one or other remembers the old Florys days in 2006. At a SP of roughly A$ 3.50 (market cap was then roughly A$ 500m) a lot of people were talking of a possible price target of A$ 10-15 (I have to admit that at that time the zinc price was substantially higher end in regard to Mumbwa most people - also BHP - were of the opinion that Mumbwa would host a 2nd Olympic Dam) and therefore of a possible market cap of 1.5 to 2.5bn A$. Some people was even of the opinion that this is a 5 to 10bn A$ company.....

    Well...a lot has changed since then:

    a) Perkoa is not longer a hole in the dirt (as it was at that time!) but is a producing zinc mine

    b) Kitumba is not longer a "one-hit-drilling-wonder" with average grade but instead - at least for the time being - an interesting copper deposit with above average copper grades

    c) 5 Km from Kitumba we have Kakozhi (already with some interesting drilling results) as 2nd important target for a possible 2nd copper deposit

    d) Alreday Flory was of the firm opinion that Perkoa is not a stand alone zinc deposit (by the way probably open at depht)...therefore a good chance that just around the corner an additional deposit could extend substantially the life time of Perkoa

    e) I do not know if all in this forum is familiar with the story of Mumbwa. To make it short: different companies (e.g. BHP) started already in the 1970ties to drill this area because they were of the opinion that somewhere there it should be possible to find a "giant deposit" similar to Olympic Dam. By the way: Even geologist do not fully understand the Mumbwa anomaly or even the Kitumba deposit in all details. So therefore there are only to options: All were completely wrong or....the deposit has not been found yet...

    However...even with all the progress that has been made the market cap is at modest A$ 40m. Compared with the "old days" today you can buy Perkoa and Kitumba for "peanuts".

    The crux of the matter is the fact that the development of such a company needs time, good management...and luck.

    Perkoa is almost up and running (I have waited for 6 years to see the zinc concentrate...). Kitumba is in the starting blocks - at least for the moment - maybe in 3 weeks we know that Kitumba is a "no go" or maybe a surprisingly interesting and se.xy "on go"....if this is the case I will wait - if necessary - another 6 years the get the full value of the company.

    To last hints from my side:

    1. In 2009 the SP was at 6 cents. At that time really nobody (except some hard-core long term holders) were of the opinion that the SP might recover to 30 or 40 or 50 cents....not to mention the > 1.50 of last year. In 3 years (2009-2012) the story has been rewritten almost completely. The same might happen in the next 3 years.

    2. I am still convinced that Mumbwa offers more the just Kitumba....the game might change over night with just one drilling result.

    PS: I am back from holiday....and I am thrilled to see the PFS and next drilling results as soon as possible.

  7. mowibble

    9,993 posts.

    "i wonder what's going on behind the scenes?"

    well that answers that question:)

    resistance possible around 36c on this, but after that things should really start to run over the coming weeks

  8. mowibble

    9,993 posts.

    whoops, what am i saying.

    we've already broken out of one channel, next resistance is probably 39c

    note after the comment about stochastics where they were at

  9. lastlaugh

    308 posts.

    I reckon .35 is a block.

  10. mowibble

    9,993 posts.

    every 15 minutes until 4pm today will be a block. daytraders will be driving this now.

    the big question is where will it settle. it should end on a high, it is undervalued by so much that even a 100% gain still leaves it underpriced.

    somebody looks to have taken a gamble on 40c, they may be on the money.

    but i'm pretty sure that, as suggested by the chart leading into this event, a big reversal has been shaping up and there should be a few weeks of price appreciation to follow

  11. jin12345

    1,353 posts.

    Proactive investor Top Story

    http://www.proactiveinvestors.com.au/companies/news/46518/blackthorn-resource-hits-world-class-243m-at-5-copper-at-kitumba-46518.html

  12. dazzaa

    5,232 posts.

    check the 160 daily chart on this..lol..will have long legs on this one hopefully...insto's buy tomorrow i hope..

  13. stja

    2,652 posts.

    nice work mowibble...youve been a good promoter of the stock...good to see it come through.

    I sold the other day on the 8 mill funding announcement at 24. thought it would fall back to 20 or so, but bit the bullet and took them back at 23...how lucky was that!!

  14. mowibble

    9,993 posts.

    no worries stja.

    looks set to close on record volume today. good for longs imo.

  15. yesitsme

    528 posts.

    so pissed of missed open to busy playing with the thai girl but did get on in the high 20s so all good.50c here i come

  16. FLYING.... Instos getting on this?????

  17. Treass

    624 posts.

    up over 100 per cent so glad i stuck with this company

  18. thecableguy

    6,709 posts.

  19. Treass

    624 posts.

    good luck with whatever you do cg i'm staying until mining then the real valuation will kick in.

  20. yesitsme

    528 posts.

    mmm whats happened here

  21. what just happened???

  22. thecableguy

    6,709 posts.

  23. lastlaugh

    308 posts.

    I am out half my stake. 167% too tempting. Simply beyond my wildest dream. Easiest money ever made.

  24. mowibble

    9,993 posts.

    well done guys.

    this actually exceeded my mid term targets, so i had to pretty much cash out too.

    really happy with how that one panned out. the market is pretty keen on base metal plays right now, just gotta find the right runt, and sit on it until everyone else goes "wait, how come that's so cheap?"

  25. >Russ<

    4,313 posts.

    Hey mow
    Hehehe Hey

  26. Kalenn

    4,774 posts.

    Agree, have a large stake in another good copper play with sound fundamentals. The grades look great..the rest I don't know about.

    GLTA holders

  27. mowibble

    9,993 posts.

    see russ, i aint crazy:)

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