Just bought into this stock, anybody else a shareholder?

SKR : AIM : 0.34 | 56.0M | Buy, 1.10 ↑

Sunkar proves sceptics wrong -- BUY, raising target price 110p

Damien Hackett, 44.20.7050.6641


Event
Sunkar Resources' announcement today indicates that it has cleared its first major hurdle on the way to commercial production of
Di-ammonium phosphate (DAP) of internationally acceptable quality from its low-grade phosphate deposit at Chilisai in north-western Kazakhstan.

Impact
The ability to produce commercial ammonium phosphate from a low-grade primary source such as Chilisai at ~10% P2O5, even after local beneficiation to 17% P2O5, understandably presented some concern to investors. There is only one commercial plant in the world currently converting phosphate rock of grade less than 20% P2O5 into phosphoric acid and that is in Jordan. It now appears there might be another, this time in Kazakhstan.

Clearing this major hurdle enables us to reduce our project completion risk from 90% to 50%, which in turn lifts our net asset value for Sunkar to 1.14/share. On this basis, we are raising our target price from 0.25/share to 1.10/share.

Action
We continue to recommend buying Sunkar.

Next Catalyst
The company is due to appoint various contractors for the feasibility study before the year-end. We would suggest the start of the feasibility study is likely to be the next major stimulus to Sunkar's share price beyond our target of 1.10/share.

cyril

and who might damian hackett be that he knows the word of God?

Easy peasy,just google? to get Senior analyst, metals and mining for Canaccord.
cyril

at least it's not just some dozo off advfn or similar

Well,it certainly is a fair enough question!.

Rumour,a poster from another board who appears(?)genuine has stated that a bid is in the pipeline at many times thr present SP? This i state is a "RUMOUR" from a BB so should be treated as such. Having saud that it's a good investment imo,bearing in mind the quality of large holders who paid 120p at lauch?
Take care as i repeat it's just a rumour and could be pump and dump,only time will tell?
cyril

oh i do so hate these arseholes who post thus!
cyril - you know as well as we all do that such postings are 99.9% total and utter CRAP!

Off out now,but i'll just add that it has excited many and the SP is now pushing 40P?
cyril

i don't think "it" has at all, but more likely underlying fundamentals

How many years before SKR start producing?

SKR recommended as a buy at 32p in todays' SHARES mag

By Bryce Elder and Neil Hume

Published: September 30 2009 08:57


Sunkar Resources, the Kazakh fertiliser company, added 11.6 per cent to 38p as the rumour mill went into overdrive following the resignation of David Argyle, non-executive director. Mr Argyle is the chief executive of a Canadian potash company.

http://www.ft.com/cms/s/0/afe8a9f6-ad89-11de-bb8a-00144feabdc0.html

Halifax, 2011/12 if they get to that stage,it will take a lot of dilution to pay for the
plant costs.
cyril

One might be forgiven for rhinking that the resignation of an exec. was bad news.

not if he feels he has a conflict of interest

Be that as it may , the share is on the move again at 41.75,up 3.25 currently.If things carry on like this, it will soon beat autonomy as the best share I ever bought
And, there is heavy buying this a.m.

CP glad ro hear of your success,clearly the rumour has had a marked effect. What i also believe it has brought a much higher awareness,so coupled with a company that is well below its placibg of 120p and supported by some pretty impressive names PI's are happy to come on board.
At what point it faulers i've no idea,but falter it will and profit takers will close
their [psitions. We now need news to build on this latest surge in interest and should come shortly in the form of a reserve update?
aimho
cyril

As i wrote a spade of selling has started.
cyril

I believe that it is simply because the MM's are seriously short of stock so any news whatsoever pushes it higher.

you believe, lol.....

here's some real news........David Argyle is director of Agriculture of Forbes & Manhattan who are in a very acquisitive mode at the moment

i heard you aint a dealer but long term investor these days, dealer