very brief nutshell comparison DOM (Challenger Mine Sth Aus)SP...

very brief nutshell comparison DOM (Challenger Mine Sth Aus)

SP 0.40 then Oct to Dec 2005 went to $1.00
Jan 2006 $1.50 then retraced to $1.00
May 2006 back to $1.50 to $1.00
Oct 2006 1.00 to 1.50
Jan 07 1.50 to 2.50

At the time production was increasing towards 130koz pa and min life extended to 7+yrs

Sep 07 super spike run to Nov high 6.50 odd

Currently around $2.50

Catalysts was Wongan Hills New copper / Gold find (Cu 1.9% Au 2.4g/t)

Low shares on issue currently 103.3mil

Last quarterly 20500oz cost 692/oz rev $1207/oz, 4.9 g/t

Expectations now 120koz pa


CRK Since listing on the ASX in January 2005, Carrick has increased its JORC resource base to in excess of
4 million ounces, including the 2.9 million ounce Parrot Feathers deposit at the Lindsays project.

To my way of thinking there must be some doubt on the following;
1.Resource to reserve conversion.
2.Could be viewed high cost.
3.Market wants more evidence before believing the story.

Either way the market cap is $63mil, and resource is 4mil/oz+, i think one research paper is saying reserves to be 1.2mil oz. So that would give the magic 10+yr mine life with the upside potential of further conversions to reserve status.

Best bet in town imo.

JP Morgan may be ready to jettison the stock, but i think they are suppressing the price to a point where they find suitors to make a take over bid.

Now the family has 38% so the bid would need to be high to unlock that holding, i would suspect minimum 2 to 2.5 times current price. JP Morgan can then exit at a much higher level than current.

Whether $0.90 to $1.10 would be acceptable is irrelevant.

It would be enough for me to take the money and run now than wait for the fullness of time to achieve say $1.50