NAV-NAVIGATOR RESOURCES

[shasta]

Been thinking about this a bit today... god management have stuffed up here.. BUT

Pretty cheap - ~30mil market cap with 20mil cap raising fully under-written + value of resources in situ + plant.

That being said, forward revenues are pretty crap (7-8mil for 2011/2012)?? + I can't imagine there'll be much exploration / resource upgrading going on. Interesting.

A few IPO's & project spin offs have been withdrawn of late, making it harder for spec/exploration companies to raise funds.

Wonder what the likes of CFE will do, they have plenty of cash & proved with the CUO transaction, they can asset strip & profit from distressed companies.

Now is the time to mop up the distressed projects for a relatively small outlay & hold them until value can be unlocked.

Thinking of adding CFE back into the mix for my 5 stocks, they have leant money to a few explorers via convertible notes

I know theres no link between CFE & NAV, but this is a classic case where a Tony Sage syle operator would swoop in ;)

[trackers]

Hey Shasta yeah she's a tough market, as you say IPO's and spin-offs are being delayed due to poor market conditions and reduced risk appetite.. .And this Greek drama has led to worries that credit will dry up - Good chance to get in on companies with good cash balances and/or are cashflow positive or self-funding!

I've got a few that fit the bill, like AZZ who are self-funding, YTC who have $25mil for exploration, PXG who have near-term cashflow plans to be self-funded... I've also got a few who dont :/

I agree that big players like CFE will be rubbing their hands with glee at the thought of picking up plant / highly prospective resources from juniors that can't generate funding or market interest

[trackers]

Another trading halt? What are these guys up to.... ""update on bank facilities and previously announced equity raising"

Don't hold, but interested in their assets (especially under new management lol)

[Corporate]

It doesn't sounds good does it. Management have put the company into an awful spiral. There is no way Paterson's will underwrite the placement when the share price is sub 6c. It looks like the bank might be asking for repayment and there will be more dilution for shareholders.

[upside_umop]

Glad I dumped the options at over 6 cents on these. Far out.

Have held onto some heads as I thought they were leveraged to gold...looks like this could be the second time these assets make a company fall over. Not profitable at this price of gold??? Never will be.

[JBmurc]

Glad I dumped the options at over 6 cents on these. Far out.

Have held onto some heads as I thought they were leveraged to gold...looks like this could be the second time these assets make a company fall over. Not profitable at this price of gold??? Never will be.

yeah I'm so glad to have sold out at 18.5c even got free KRE shares will keep away from NAV till it sorts it's self out if SBM were ever think about buying
NAV/ lenora couldn,t have a better opportunity

As a holder of ARV holds permit just north with 1moz potential ,NAV gold plant would be a steal to many Exploration companies or the like of the CFE if NAV does go down the tube..with AUD gold at record highs etc

[Entrep]

Down to 4c now....!

[JBmurc]

Down to 4c now....!

make that 3.7c another AXM in the making ? mgmt heads should be on the chopping block for the way they have run NAV over the last couple months they really couldn't have done worse 18c to 3.7
they should have sold KRE assets outright months ago would have raised the funds to cover the rmb debt problem which was only set off because of the pull back of the market value of NAV below a set value agreed on the debt

[soulman]

Yep, looks like another AXM. Very similar raising from AXM maybe 20 months ago. 4 cents rights and free oppies ex at 6 cents.

For those buying during those 2 days, bad luck. I had an order in at 5.5 cents but never got there. Geez, what a lucky break. Still hold some and like you JB, sold most at 18.5. That free KRE shares seems like a well timed bait for NAV. Those exe are having a good time still getting paid and running the coy to the ground. Sounds like the good old crroks day. De ja vu. You still got the KRE JB?

I feel the hurt for those near 16 mil shares that went through last week.

[drillfix]

Agree Soulman. AXM replay in some ways.

Just when you think the market is not very merciful or that tax writes offs where in play, these guys just seem to keep getting worst and worst.

Hopefully anybody holding these would have taken a tax write off of some kind to ease any pain.

[drillfix]

Another thing which I also agree with something I read on the PLV thread on HC.

With some of the recent falls in other companies (PLV as another example of the many) retail investors will be leaving the market in the droves as many will be licking their wounds with complete loss of faith in smaller junior companies as well some of the bigger sad tales out there as well.

Sure, no doubt people will forget and come back in, but the more that seem to get hot oiled and feather whacked, the more that will tell tales to yield warnings to others.

This stock Navigator is being another duck feather oil treatment for many unfortunately.

[JBmurc]

[QUOTE=soulman;349580]Yep, looks like another AXM. Very similar raising from AXM maybe 20 months ago. 4 cents rights and free oppies ex at 6 cents.

For those buying during those 2 days, bad luck. I had an order in at 5.5 cents but never got there. Geez, what a lucky break. Still hold some and like you JB, sold most at 18.5. That free KRE shares seems like a well timed bait for NAV. Those exe are having a good time still getting paid and running the coy to the ground. Sounds like the good old crroks day. De ja vu. You still got the KRE JB?

yeah still holding my KRE actually brought a few yesterday at 14c-14.5 now I see them at 13.5c they have 17mill+ in cash at the bank current market value -13mill a rare earth Jorc that puts them on the list of few Rare earth plays they do only hold 25% at this stage..which will increase to 55%

About Kimberley Rare Earths
Kimberley Rare Earths Limited listed on the Australian Securities Exchange on 18 May 2011, having raised $18.2m under an oversubscribed Initial Public Offering.
KRE was incorporated by Navigator Resources Limited, to be a specialist rare earths company and following listing, now holds a 25% interest in the Cummins Range Project. KRE has the right to earn up to 80% by funding exploration and development through to delivery of a bankable feasibility study. KRE’s first target is to spend $10m within four years to increase its interest to 55%.
The Cummins Range project comprises 1 granted exploration license (80/2232) in the East Kimberley with an area of 48.5km2 and within which is contained an independently estimated Inferred JORC compliant resource. The resource contains 4.17 Mt at an average grade of 1.72% TREO (total rare earth oxide) for 71,700 tonnes TREO, 11.0% P2O5 and 187 ppm U3O8 (using a 1% TREO cut off). The Cummins Range project is one of only a few Australian rare earths projects with a Resource reported under the JORC Code.

[soulman]

Got to say that warnings signs abouts NAV......just weren't there. TA suggest the fall to the low 10's but this raising must be so suspicious, it can only take a few sacking up the order to restore investors confidence.

The take-up in the upcoming rights doens't look good at the minute with NAV shares sinking by the day.

[JBmurc]

Got to say that warnings signs abouts NAV......just weren't there. TA suggest the fall to the low 10's but this raising must be so suspicious, it can only take a few sacking up the order to restore investors confidence.

The take-up in the upcoming rights doens't look good at the minute with NAV shares sinking by the day.

the way things are going I don't think there will be a NAV soon

[JBmurc]

From the KRE prospectus(As I now hold KRE I'm sure many wondering what happens if NAV crashes)

ENCUMBRANCES ON TITLE
RMB Resources Limited currently holds a fixed and floating charge over the Tenement. Transfer of a 25% interest in the Tenement and KRE’s earn-in rights under the Joint Venture Agreement are conditional upon RMB Resources Limited providing its consent and releasing its charge over KRE’s interest in the Tenement.
RMB Resources Limited will retain the charge over Navigator’s interest in the Tenement (45% once KRE’s minimum funding obligations have been met). There is a risk that, in the event Navigator defaults on the terms of its funding arrangements with RMB, RMB may enforce its charge. As a result, the Company may have to proceed with the Joint Venture with a partner other than Navigator, and whose business priorities may differ to those of Navigator.

[Corporate]

7 for 2 at 2c. I hope not many got caught up in this disaster

[soulman]

Unfortunately I did Corporate. Actually thought the dog was never coming on. Although I sold most at 18.5. Still hurt.

Offload KRE at 17 cents this week. Anyone else in this disaster. JB, how you holding up?

[Corporate]

sorry to hear that soulman. I lost 100% of my investment in WCUO a few years ago -$10k gone. Horrible feeling.

[soulman]

Yep, sorry to hear that too Corporate. I did a lot of big disaster during the GFC so I am sort of immune to disasters.

Did the lot with MFS ($18K ouch!!), sold AFG and BNB just before they collapsed (I guess that's a minor win). Luckily did not go broke (almost!) to play the game again during the recovery and did well in the last 24 months. I am proud of the fact I am back above where I started, with obviously more knowledge, wisdom and lessons from the GFC. Very humbling experience.

NAV is a horrible dent and again bad managers are to blame just like MFS, AFG and BNB.

Just read that you sold NAV just before the collapsed JB? Lucky escape.

[gazprom1]

Unfortunately I did Corporate. Actually thought the dog was never coming on. Although I sold most at 18.5. Still hurt.

Offload KRE at 17 cents this week. Anyone else in this disaster. JB, how you holding up?

Hey Soulman,

Yeah, i took the bull by the horns after the trading holt was lifted and have lost 50% of what I invested. Not the end of the world and worth the investment at the time...obviously it has not panned out....=)

IMO the market has been worth investing in as stocks have been attractively valued and every now and then you get caught with the likes of an NAV. I will take up my rights as per the issue and hope to end up all square after a period of time. I just wish I had more money to invest in certain stocks....

Phaedrus posted that I am due to meet a train crash with my stocks....I guess NAV is train crash of sorts but the train is still on the tracks and tracking higher!!

Gazprom

[Corporate]

I just wish I had more money to invest in certain stocks....

Gazprom

Gaz, I'll take the bait...what are you looking into at the moment?

Sorry to hear you got caught up in the mess.

[JBmurc]

Unfortunately I did Corporate. Actually thought the dog was never coming on. Although I sold most at 18.5. Still hurt.

Offload KRE at 17 cents this week. Anyone else in this disaster. JB, how you holding up?

same us yourself Soulman sold at 18.5c only a very short time before the crash to 12.5c then to trading halt so many would haven't had much of a chance to get out I mainly sold more so as I thought at the time NAV costs look to be heading upwards with higher grade ore some months off so decided in the short term the funds would be better off in AMU,MOX,HLX etc at the time I still thought that NAV would at worst head to the low teens if that not 2.6c etc with massive dilution....
A mate is still holding quite a few in a long term portfolio not too happy much the way I am round GRM (never invest on chip samples)
been buying up KRE of late think its good buying at these levels

[soulman]

You got away there JB. Lucky. I sold roughly 2/3 at 18.5 a few days after NAV goes ex from the KRE distribution.

The 1/3 holding is big enough to smash me but I guess I am lucky to sell at 18.5. Also, got something out of KRE.

Gaz, you got a raw deal of buying at the time of crisis. I assume you bought either June 20/21.

[gazprom1]

Gaz, I'll take the bait...what are you looking into at the moment?

Sorry to hear you got caught up in the mess.

Hi Corporate,

IMO if you are in the market trading there is always potential to hit an NAV. What transpired was a disgrace and mgment should be held accountable. It is the nature of investing though and I believe that all is not lost but I am not holding my breath!!!

As you are probably aware, I have been accumulating AZZ for a long time and it is steady but not spectacular. Fraccing wells at the moment so should be a lot of news going forward. I am with Bermuda in that I believe the enviros are overblowing the environmental effects of fraccing.

Bought CCU for the first time just over a week ago....I have some reservations re whether or not they can deliver their first pour on time. Any slippage would see the SP head lower. Fully funded, quick payback and appears to have managed its overheads.

Bought PAN on the basis of steady revenues and dividends. Has been unfairly hammered during this period and is a solid stock. Needs additional reserves but they seem to be working towards that. Have costs under control, contracts in place and generating free cash flow.

Sold STX at weeks end....has recovered from 15 to 20 cents for the week. Is heading the right direction but we have seen this before. Strategy is sound but realisation of that is a ways off.

Looking hard at MAD. Need to do more research...want to look at the decline rate in their wells to see how sustainable their growth part is. Wells are cheapish to develop but still requires a fair amount of cash. Would not like to get caught up in a cap raising.

Finally Corporate, if you are still reading =), BPT is a worth a look. It has been all over the shop but has interesting projects on the go and is diversified. I like shale and they give good exposure and are not reliant on it. Rate it over ADE.

Happy days ahead. Jobs numbers were poor overnight in the states...markets down but not a bloodbath as could have occured...earnings season starts in the states next week and PPI/CPI figures out Thurs/ Fri.

Gaz

[Corporate]

Thanks Gaz, I'm also very keen on MAD and took a small position earlier in the week. I'm planning on going back through the drilling reports to model the decline rate on their wells since listing, I just haven't had time yet. I like the model.

I'm also holding MEO, WPG, OXXCA, CFE, and MOX. Listed in order of preference :-)

[gazprom1]

Thanks Gaz, I'm also very keen on MAD and took a small position earlier in the week. I'm planning on going back through the drilling reports to model the decline rate on their wells since listing, I just haven't had time yet. I like the model.

I'm also holding MEO, WPG, OXXCA, CFE, and MOX. Listed in order of preference :-)

Thanks Corporate....like your list. I been looking at MOX for ages but has been disappointing. Take a look at AZZ as their model is similar to MAD. They are bringing wells on stream and have a large acreage in Southern Star, Big Star and Northern Star. The next 2 months will tell them a lot in terms of production potential of their acres. Seems to be very well run and focussed company. User friendly for investors as well. SP has increased during the latest turmoils of the markets.

I am in the process of restructuring my affairs and hope to have 90% of my time freed up by 31 March. Going to commit more capital to the market and spend more time on research. The beauty of the sharemarket is that you can do it from anywhere in the world and can structure your portfolio according to how much time you want to dedicate to it. Have dreams of employing someone the following year - FA/TA person. I have always found it beneficial to have different peoples opinions on an investment.

Enjoy the weekend.

Gaz

[JBmurc]

yeah actually been buying more into MOX of late their first half hasn't been at all exiciting ,but when you do some study on what should well come about in the 2nd half an into 2012 5c looks mightly cheap..3.8mill in cash Marketcap=7.4mill ==two very pospective J.V projects funded by large caps another 50:50 project
+ 1000m RC drilling on a high grade Queensland gold project underway anyday+Bauxite (Cape York).....think we'll see the holders disappointment turn to joy later on this year

[gazprom1]

I thought that break even would take a long time to come but NAV has bounced - 25% on the back of some small gains in previous days. A lot of people would have made some good money by buying through the curve from 7 down to 2.2. If I take up my 7 for 2 @ 2 cents my average price is 2.8889. Current SP 3 cents. Price may drfit lower when new shares are issued but not a train wreck.

Gazprom

[drillfix]

Hi Gaz,

Yeah, am sick to death that I bought earlier at 2.3c and dumped at the end of day last week. Stupid me, especially when the technicals were saying just hold the fricking thing.

Ahh well, what is done is done.

[soulman]

Looks like traders playing with NAV? Bad luck Drill.

Gaz, you got the right issue document yet?

[drillfix]

Yeah soulman, and here I am talking about traders remorse after previously saying how I shouldn't LOL

Yikes, must keep it together :)

[gazprom1]

Looks like traders playing with NAV? Bad luck Drill.

Gaz, you got the right issue document yet?

No I haven't SM. I am away but having parents checking my mail. I will let you know when I do. Have you had yours??

DF - sorry that you exited....would have been an amazing trade if you exited now. Still, look forward not back. I wee bit of money to be made around the place...

Gaz

[drillfix]

Your not wrong Gaz, some days I feel like two people, being some days, super confident and everything happens easy and correct, other days whereby I seem to wake and had a cup of Fear or Paranoia or something, but ahh well, anything profit is always good but I guess its so true that after doing this a few hundred times, you eventually will stand strong on your Trader feet, which for me, at times is clumsy but I am getting there.

As posted in another thread, a little concerned with the US situation and the US futures totally in the red so expect a couple of tough days potentially a head me thinks.

[drillfix]

Hey Gaz,

What are these things NAVRA? they are up 300% by the looks of things.

commsec show them to be NAVIGATOR RESOURCES RTS02AUGD but what exactly are they and do you have any?

I think the NAVRA is the rights issue or something, but why is it trading I wonder?

[JBmurc]

NAV's been very lucky to have the Gold price go so well of late so many long term holders (I know of one)selling at 3c wouldn't be gutted to see traders talking up NAV when they've lost much some 90% on the back of poor management decisions (that still keep their top wages)...
But thats the marketplace Day traders ,spec buyers,unhappy holders see NAV having a future ,personal I would touch on principal dislike of backing bad managerment.
Will be good for KRE to have NAV stay afloat which now looks likely for awhile longer

[soulman]

No I haven't SM. I am away but having parents checking my mail. I will let you know when I do. Have you had yours??

DF - sorry that you exited....would have been an amazing trade if you exited now. Still, look forward not back. I wee bit of money to be made around the place...

Gaz

Got them yesterday Gaz. I also don't trust management anymore as JB pointed out but obviously the rights have value and have the potential for a quick scalp. This might ease the pain a little. I have sold the original holdings, the KRE distribution and will ultimately exit NAV altogether. It has been a tragic investment.

[soulman]

NAV up a whopping 54% today, after going 20% yesterday. That's to get the rights issue (which closed today) to be fully subscribed. Too bad I didn't apply for extras. Anyone else apply for extras?

[soulman]

The allotment is in on Thurs and I sold for 2.7. I will look to offload the option soon which traded as high as 1 cents and closed at 0.08.

Like I say before, in hindsight, wish I apply for extras, which was offered in the rights issue. Still, NAV in the long run cost me dearly in losses. The applying for extras shares might have offset those losses but oh well.....

Another big win for Pattersons and their clients that apply for the massive shortfall of $12 mil dollars worth at 2 cents and free options to boot.

[gazprom1]

NAV up 32% - does anybody have any idea why?

Thanks
Gazprom

[drillfix]

NAV up 32% - does anybody have any idea why?

Thanks
Gazprom

Hi Gaz,

Sheebers, just notice that too. Have been distracted with a few other things today so missed out on quite a few opportunities.

Maybe more profits? dunno, perhaps the Hot Copper brigade is trading it up.

[soulman]

Looks like RIP. If they can get this right issue going from retail investor, they might just be the best investment banker in the world.

[soulman]

This could be it. If ASIC can't agree on the cap raising booklet, NAV might be entering a VA with their creditors.

The first gold company to collapsed and there will be more to follow with the likes of KMC and AXM following soon IMO.

[JBmurc]

This could be it. If ASIC can't agree on the cap raising booklet, NAV might be entering a VA with their creditors.

The first gold company to collapsed and there will be more to follow with the likes of KMC and AXM following soon IMO.

not sure about KMC with the Kwok and Lee now own about 50 per cent of the company ....Lee(36%) has a history of turning round operation's and has deep pockets .....KMC would have gone under if it wasn't for them .they wouldn't have bothered unless they see a profit ,Lee also has a major holding in PXG talk of a merge of the two was round
...NAV was always on a knife edge with much higher costs to sales ...Mgmt filling their pockets etc...AYN could well be the next IMHO