Pershimco Resources - 50-dubblare

Får vi lite redovisning snart?

Är inte alla oljebolagaktier undervärderade? ;)

#1

Detta är inte ett oljebolag pappabjörn. Detta är främst om du vill exponera dig mot guld/silver, och vem vill inte göra det framöver? ;)

Edit: Besides, beviset kommer du att få om du har tålamod. Som sagt, jag återkommer!

Mvh liam

Inlägget är redigerat av författaren.

Jag kan ju nämna att de ur ett cash flow-perspektiv så drar de in nästan halva sitt börsvärde i år och nästan hela sitt börsvärde 2008. Sug på den till att börja med, men som sagt, det är BARA början.

5 CAD till nyår?

Mvh liam

Analys av JF, EXTREMT konservativ:

"ÄDELMETALLBOLAG i OROLIG TID
Guld- och silvermarknaden är vanligtvis säkra tillhåll när planeten känns osäker i övrigt. Under 2006 hittade vi några favoriter i sektorn, bl.a. Excellon och Tara Gold, som vi rekommenderade på låga nivåer. Nu har vi hittat vår nästa favorit som vi vill ha med oss i samma ärende, Pershimco Resources.

Pershimco Resources (PRO.V)
Antal aktier (FD): 34milj inkl optioner och warranter
Börskurs: 0,85-88 CAD
Market Cap (FD): 28,9 MCAD
Hemsida: www.pershimco.ca

Pershimco är ett bolag i den minsta ligan, men som vi tror kan bli hyfsat stora inom några år. Dessutom tror vi att de har ett bra recept på hur de ska omvandla sig från liten till stor snabbt och med minimala utspädningar så att aktieägarna blir de som vinner på omvandlingen.
Denna lilla spänstiga ädelmetall-uppstickare har följande projekt i Mexico och Kanada Courville, Guld i Quebec, Canada Cusi = San Miguel & La Bamba (30%) Silver i Mexico (10 oz/ton)
Camila & Melina, Blandmetallprojekt i Mexico

Courville Quebec
I Canada jobbar man mycket snabbt med att borra upp något som vi tror ska bli ett riktigt stort guldprojekt. När de släpper en resource calculation på detta projekt så får det ett reellt värde och marknaden kommer att förstå vad som är på gång - nämligen över en miljon ounce guld i marken som skulle kunna bli mycket mer.

Cusi Chihuahua
Silverprojekten i Mexico innehåller en "Tara Gold-deal" där man åker snålskjuts på sin partners bekostnad och där man drar in cashflow redan i år. Vidare borrprogram leder till en resource calculation som ger investerarna ett riktmärke vad det innehåller. Vi tror att detta blir tillräckligt stort för att de båda bolagen ska tycka att det är värt att få upp produktionen till 1000 tpd nästa år. Just nu produceras ca 300 tpd som beräknas öka till 500 tpd i sommar.

Camila & Melina får vi återkomma om när mer arbete uträttats här, men vi räknar med att man använder sig av liknande taktik ala Cusi på detta projekt.

Borrprogram och framtida finasiering Sammanlagt ska man borra 40-50.000 m i år, vilket vi tror är världsrekord för bolag med PRO:s börsvärde. För att ha råd med den här vilda planen och utan att vi ska hamna i flera jobbiga "pp-rödljus" på vägen så har bolaget tänkt lösa det mesta av finansieringen genom följande:

Man startar test-mining med stor "bulk-sampling" på alla projekten och där man på det sättet tjänar några extra miljoner dollar per år med den metoden. (Varför gör inte alla andra små bolag det?)

Dealen man har på sitt projekt i Cusi, Mexico innebär att deras partner kommer att stå för alla kostnaderna för ett 20.000m borrprogram och där Pershimco sedan får 30% av cashflow.

Slutsats
I korthet skulle vi kunna rekommendera det här som ett "cashflow-case" där bolaget drar in nästan halva sitt börsvärde i år och hela dagens börsvärde nästa år i positivt cashflow från sina projekt. Bolagets litenhet i market cap gör att det kan finnas spänst kvar i aktiekursen trots att den nyligen gjort ett skutt.

JF:s målkurs för året: 1,80 CAD" 

Mvh liam

Bra analys från www.stockhouse.com

"Factors for considering PRO:
1) CEO buying at open market recently
2) Production at Cusi receiving revenue, and Cusi production will increase to 500 tpd, and then to 1000 tpd in 2008
3) Excellent potential at Courville with potentail to become a superpit with multiple millions oz of gold (low cost, large tonnage, long life)and with recent drilling results are good
4) Possibly JV with a major on Courville later this year or next year with engineers from majors on site;
5) Excellent potential at Camila/Melina area with multiple metals and super high values.
6) New acquisition near Camila/Milina with great potential
7) New Frankfurt listing to attract European investors
8) Recommended by Jordan Fund and RI, both with high target prices for PRO
9) Recent financing with high warrant price to indicate confidence of the management
10) Exciting new drilling results from Cusi -- discoverying a large silver system
11) JV with DIB on Cusi with DIB paying the bill
12) Excellent management

PRO has four important groups project

Courville Project

the original flagship project. But its importance is decreasing. Not because it is not a good project, or whatever. It is so only because PRO keeps on getting very exciting projects, some of these projects may have more potential than Courville.

The best description of the Courville project is from the Resource Investor article.

"At the company?s Courville project in Quebec, a development program including a first phase of 5,000 meters of drilling, a 43-101, bulk-sampling and additional drilling will look to expand the present known anomaly stretching 1 km long, 200 m deep, and 200 m wide. It is believed that mineralization averaging 1-1.5 g/t potentially exists along 3-4 kms. If this is confirmed, drilling to test mineralization at depth will be the next step.

At a specific gravity of 2.7 and based on a 30% recoverability factor typical in the Abitibi area, 1 million to 1.5 million ounces of gold are suggested in the present area of mineralization alone.
We think that if drilling confirms what the company?s geological team believe, (and several technical staff on loan to the company from Agnico-Eagle [TSX:AEM] (who is sniffing around) rumblings of comparisons to an Osisko [TSXv:OSK] type super-pit could start to echo in the junior market."

The only problem is that the recovery rate, according to various sources including last year?s sampling project. The recovery rate should be over 90%. In other words, Courville should have much more gold than reported in the Resource Investor report!

While Resource Investor is ultra conservative on the recovery rate, they are optimistic on the target area as the numbers reported have not been proven yet. It seems that the target area is an educated guess, while not proven, should prove to be reasonably close to reality. PRO will need about least 18 months to prove whether these numbers.

However, so far so good, and even the management seems to agree with assessment as hinted in their recent new release.

If the numbers of Resource Investor is true, Courville should host minimal of 3 M oz of gold to 9 M oz of gold, open pit, low cost, and long life. This is commonly referred to as "superpit". And a superpit has significant value. Due to its low cost of production, large tonnage, and long life nature, each oz of gold in ground should be valued at least $100 per oz.

This year?s drilling should easily prove Courville have 1 to 3 M oz of gold, and that will translated into $100 M to $300 M US market cap for PRO. As PRO has only about 35 m shares outstanding, this should translate into $3 to $8 per share.

It is likely that PRO will JV with a major, and thus the gold value will be diluted. But at the same time, PRO will not need much money to develop if JV.

Those who doubt the value of Courville, should read the news release at
http://www.stockhouse.ca/news/news.asp?newsid=5039350&tick=PRO

The following paragraph from the news release shows that the management is confident that Osiko?s type project can be found at Courville, and OSK has a market cap of $600+ M

"Assay results to date continue to confirm the geological model outlined in December 2006 - that extensive lower grade gold corridors contain higher grade but narrower gold zones (refer to news press release dated January 18, 2007). Utilising this type of geological model it is not essential to find higher grade narrow gold veins, particularly if the mineralization is near surface. It is more important to deliver constant grades over substantial thicknesses for potential open pit-type mineral resource scenarios. This is consistent with other active gold projects in the Abitibi Greenstone belt. As an example Osisko's (TSX VENTURE: OSK) Canadian Malartic project that grades between 1.14 and 1.20 g/t gold over hundreds of meters."
If Courville has the same value as OSK, PRO should be around $15 to $20 if it can keep the current share structure. It is an excellent wait for 2007-2008 drilling project to be completed. Even if PRO dilute 15 M shares to 50 M shares, PRO should be $12 for Courville alone if it has the same market cap as OSK.

Cusi project

This is a JV with DIIB with PRO having 30% of value eventually. Recently, a large silver system has been identified with excellent drilling results. The 5/2/2007 news release brought a lot of attention on the Cusi project:

http://www.stockhouse.ca/news/news.asp?newsid=5486228&tick=PRO

The following paragraph shows how exciting the Cusi project is, and significant implication of the Cusi project to PRO:

Mr. Jean Lafleur, Director and Technical Advisor, states "(...) Having now observed the mineralized system underground at San Miguel and La Bamba, there is a clear indication of a significant silver system that could contain a large tonnage potential using combined narrow higher grade veins and wider lower grade haloes. Dia Bras and Pershimco are actively moving forward with the exploration program at La Bamba and San Miguel with over 10,000 m of drilling planned to delineate higher quality mineral resources in 2007, to a depth of nearly 500 m below the topographic surface".

One highlight of drilling results is

"3,780 g/t silver intersected in surface drilling at La Bamba Pit".

That is fantastic result! Near surface, exceptionally high grade, suitable for open pit.

Las Minitas Project

Currently, Las Minitas has about 1.5 M oz of gold equivalent with 43-101 immediately. As Las Minitas has 100+ m oz of silver, or about 2 M oz of Au in equivalent. PRO owns 75%, and it means, PRO now owns 1.5 M oz of gold.

Las Minitas has the potential for hosting 11 M oz of gold in equivalent in historical resource. That will add another significant resources and potential to PRO. This is like another Courville, except now we have 1.5 M oz of Au in 43-101.

If we just assign $20 for each oz of Au to 43-101 1.5 M oz of gold, this will add $30M value to PRO, or about $.88 to the stock price (currently at $.86). And that is low. So, we should expect PRO trading at $1.80 very soon. However, the potential for Las Minitas is so grear that, this deal should add $3 on top of the existing PRO share price soon.

This is a very big, and growing target - and the higher-grade portions are easily targeted for bulk-sampling to pay for development.
From Raven Gold website at

http://www.ravengold.com/projects/lsmintas.php

"Historical information regarding Las Minitas indicates three mineralized zones of interest that contain a total potential of 22 million tons of ore grading 20 oz/t silver and 0.08 oz/t gold. Metallurgical testing indicates that recoveries of 90% for both silver and gold may be achievable by cyanidation alone."

22M tons x 20 oz/ton silver = 440 M oz of silver = 8.8 M oz of Au equivalent potential, and out of 8.8 M, 2 M oz of Au proven already.
Also, note that 20 oz per ton, each ton is about US $280, that is high grade.

Raven lost the project due to its inactivity, and now PRO takes over the Las Minitas project. Furthermore, PRO not only takes over the original Las Minitas project, it also takes over the surrounding area, a very large area, too. Thus, the potential for the new enlarged Las Minitas is even better.

Las Minitas project should add $2 to $3 value to PRO immediately. PRO will pay $10M dollars over the next few years (including payment to TRGD and drilling), and 750K shares to TRGD as payment. The total payment is 10 M + PRO shares. As PRO is expected to grow significantly, TRGD get the best deal from PRO shares. (If PRO is $10 next year, TRGD gain $7.5M. With the kind of growth PRO is receiving, there is a good possibility PRO will be $5 to $10 next year)

Camila/Melina and 7 other Concessions

Not many people follow Camila and Melina, but they actually are significant projects with lots of potential. In fact, they might have more value than some other PRO projects in the future as observed by geologists (note that this is comparing with Courville and Cusi, two very outstanding projects). In other words, these projects have exceptional value, just few people know much about them. As they have not been developed, no data can be reported to support the speculation.

Recently, PRO has also acquired several news projects near Camila and Melina, see the new release on 3/28/2007.

http://www.stockhouse.ca/news/news.asp?newsid=5017869&tick=PRO

For example, the Vicky concession:
- Vicky Concession - historic sampling in the shaft outlined 1% to 7% Copper; whereas 50 to 100 tonne bulk samples gave up to 19.6 g/t Gold, 424 g/t Silver, 26% Copper and 1.2% Zinc;

These results are simply fantastic! 26% copper is about 572 lb of copper per ton, and that is more than US $1,000 per ton for copper alone (assume only $2 per lb).

Other important factors:

A) PRO has a extremely aggressive drilling program for 2007. Probably the most aggressive drilling program among juniors. The PRO people are competent, and they are able to maintain those drilling program even though other juniors having great difficulties in finding drilling teams for their projects.

B) PRO knows how to operate in Mexico, and few companies can do so. Recently Raven gave up Las Minitas as a result, and PRO was able to pick up this wonderful property.

In summary, PRO should go to $2 to $3 very soon due to the above excellent news concerning excellent properties, aggressive drilling programs, excellent drilling results from Cusi and Courville, and immediate revenue from Cusi. So, PRO should be 2-3 bagger very soon.

The long term target (3 to 4 years?) is $30 or more, or about 30 bagger from the current price.

Risks:

There are always risks with mining companies. Some include

1) metal price;
2) Too many excellent properties. Other companies suffer from lack of good properties, but PRO may have too many good properties that they may not be able to develop these at the same time. (Thus, it is possible that PRO will JV with a major on Courville and focus on Las Minitas and Camila/Melina instead, but this is completely wild guess at this time).
3) Dilution. As PRO acquire new properties, they will need money, thus dilutation is coming. But the current share structure is so tight, even it dilute to 50 M, the share structure is still excellent and tight." 

Mvh liam

Inlägget är redigerat av författaren.

Tralalala, någon som vill bli rik? Köp IDAG, nästa vecka KAN det vara för sent ;)

Trallaalala.

Snart så, snaart!

*myser* 

Mvh liam

4.44, vi närmar oss 100%, reservuppdatering idag eller nästa vecka? Den som lever får se.

Mvh liam

till #8 hehe, fel sträng, menade STP ;-) 

Mvh liam

Här Silicon! 

Detta orsakade kursras på ca 45% igår och idag

 http://biz.yahoo.com/ccn/071212/200712120431047001.html?.v=1

Mvh Björn