# MLS - Metals Australia



## SevenFX

MLS is up 25% and has some strong buying volume in this down day.

Good News Out on Zinc find driving it up.
http://www.asx.com.au/asxpdf/20061019/pdf/3z2jnw2dkrkr7.pdf


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## imajica

this one is looking good  at 2.4 cents it is super cheap

further drill results pending with encouraging results so far

definitely worth a gamble


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## imajica

up 8% to 2.6 cents

awesome activities report


Have a read of this outstanding report

Highlights of drill results

1,052,640 tonnes @ 7.64% zinc

an inground value of nearly 1/2 billion 

note: this resource estimate does not include the latest drill results completed in June and September - which will undoubtedly expand the resource

market cap : 17million


DYOR


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## imajica

forgot to mention they have 6.5 million in cash

more than a third of their market cap


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## imajica

2.7 cents now

buyer side is building rapidly

could pop at any moment


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## MiningGuru

This one is about to surge!

So cheap at these prices, with 1/2 a billion dollars of zinc in the ground!

Mining Guru


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## SevenFX

I think it's only fair you guys share your profits   , as I spotted it, but then took my eyes of it....  bugger...

Good Luck...


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## MiningGuru

MLS would be an ideal takeover target for ZFX.

Super cheap too!

The Mining Guru


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## imajica

daytraded this one today for some beer money

will buy back in on Monday and will hold 

those imminent drill results - if they can prove up a JORC compliant resource that is double what they currently have we could see an in ground value of a billion dollars


market cap: 17 million

this one is going up quickly


in the late arvo the price was being manipulated, keeping it down for further accumulation. at any moment this one could pop


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## sleeper88

im considering purchasing this one, but im still tossing up between MLS and AAR  

so far AAR's Koongie Park resource stands at 
Sandiego
Zn zone: 1.3mt @ 0.6% Cu, 1.3% Pb, 9.1% Zn, 16g/t Ag, 0.34g/t Au
Cu Zone: 0.92mt @ 2.9%

Onedin 
Zn zone: 1.14mt @ 0.70% Cu, 1.2% Pb, 7% Zn, 40g/t Ag
Copper zone: 2.22mt @ 1.2% Cu, 1.7% Pb, 2.7% Zn, 38g/t Ag

anyone got any ideas?


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## johnmwu3

From the chart point, AAR just up from 4c to 8c, and MLS is still at the bottom.
Only for Ref.


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## Halba

AAR's mkt cap is more than MLS(you have to pay double the mkt cap)

a no brainer MLS is cheaper


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## imajica

solid buying this morning - market is starting to notice the value in this one

when the further assay results are announced - we will see a nice spike in the share price


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## CanOz

Anyone think these guys could be a takeover target from a bigger company looking to secure more Zinc given the state ot that metals market atm?


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## sleeper88

got some this morning at 2.7c


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## CanOz

The charts looking good, i would like to see it pass through this resistance though...a close too far off the the high would not be too good.


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## MiningGuru

It has really started moving today.

But it still has along way to go!!

The grades just get better. Is has 1 billion tonnes at over 12% zinc.

Also has U and ground next to Oxiana.

 Fantastic.

Should get to 10c + very soon.


The Mining Guru


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## sleeper88

MiningGuru said:
			
		

> It has really started moving today.
> 
> But it still has along way to go!!
> 
> The grades just get better. Is has 1 billion tonnes at over 12% zinc.
> 
> Also has U and ground next to Oxiana.
> 
> Fantastic.
> 
> Should get to 10c + very soon.
> 
> 
> The Mining Guru




ummm..i honestly hope ur right..coz i'll be a millionaire if they had *1 BILLION tonnes at over 12% zinc  *    ..i fink u meant 1mt @12%


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## CanOz

sleeper88 said:
			
		

> ummm..i honestly hope ur right..coz i'll be a millionaire if they had *1 BILLION tonnes at over 12% zinc  *    ..i fink u meant 1mt @12%




Thanks Sleeper88...I wanted to ask that but thought i must have missed something!


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## MiningGuru

There is over 1 million JORC resource, but much more that hasn't been quantified to that level yet.

There will be a massive resource increase with this one!


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## CanOz

Really? Any idea when we can expect another ann?


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## MiningGuru

Latest drilling data is being interep'ed at the moment.

As soon as that is done there will be a further annoucement


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## MiningGuru

Held up well today.

Taking a breather before the next move upwards!


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## imajica

good volume and solid buying today

looks like a lot of accumulation has been going on the past few days

gearing up for the next rise - all the signs are pointing to a push into the high 3's next week - looking good


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## sleeper88

imajica said:
			
		

> good volume and solid buying today
> 
> looks like a lot of accumulation has been going on the past few days
> 
> gearing up for the next rise - all the signs are pointing to a push into the high 3's next week - looking good




i agree..moving up slowly, with buyers building up, now where's the next set of drilling results?


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## two40

I like the look of this one so I went in today.




			
				imajica said:
			
		

> up 8% to 2.6 cents
> 
> awesome activities report
> 
> 
> Have a read of this outstanding report
> 
> Highlights of drill results
> 
> 1,052,640 tonnes @ 7.64% zinc
> 
> an inground value of nearly 1/2 billion
> 
> note: this resource estimate does not include the latest drill results completed in June and September - which will undoubtedly expand the resource
> 
> market cap : 17million
> 
> 
> DYOR




Can I ask how you came to 1/2 a billion $? I'm a newb so I've probably got this wrong but:

1,052,640 t
7.64% yield
-------
80,422 zinc yield
-------
4,300 zinc price p/t in US$
-------
345,813,293 value in US$
-------
0.77 ex rate AU$/US$
-------
262,818,103 value in AU$


Looks like a quarter of a billion to me. I'm probalby wrong because I honestly know crap all. Having said that could you please show me how to calculate it properly?


240


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## deftfear

You have converted the amount into AUD incorrectly, $1 USD = $1.30 AUD, it comes to around $450m if it is calculated this way.


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## two40

Too true. Thanks.

1,052,640 t
7.64% yield
-------
80,422 zinc yield
-------
4,300 zinc price p/t in US$
-------
345,813,293 value in US$
-------
1.33 ex rate AU$/US$
-------
459,931,680 value in AU$


240


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## two40

can i ask a simple question please...

when a report says "2.4m @ 12.75% Zinc from 163.52 meters" what does it mean exactly?

cheers
240


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## sleeper88

two40 said:
			
		

> can i ask a simple question please...
> 
> when a report says "2.4m @ 12.75% Zinc from 163.52 meters" what does it mean exactly?
> 
> cheers
> 240




ok two40..im no mining expert, but im pretty sure it means: from a depth of 163.52 from the surfance, there is a 2.4m (presumably from depth of 163.52m to 165.92m) mineralisation with a grading of 12.75% Zn
for those mining gurus correct me if im wrong


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## sleeper88

up approx 9% so far today


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## imajica

price remained solid at close - 3.4c

closing higher is a bullish indicator for the rest of the week


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## johnmwu3

With  solid buying volume, hope tommorow  stay up on 3.4c, and  building up price next.


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## two40

let's see if it breaks its year high by the end of the week.


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## johnmwu3

Break through 3.4 on solid buying, and  more than 3mil. buying on  3.5 c.
MlS will fly.


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## sleeper88

johnmwu3 said:
			
		

> Break through 3.4 on solid buying, and  more than 3mil. buying on  3.5 c.
> MlS will fly.




yep, strong afternoon buying, and pushing 3.7c, it's ready for take off   good performance today considering the all ords is down 31.9


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## CanOz

johnmwu3 said:
			
		

> Break through 3.4 on solid buying, and  more than 3mil. buying on  3.5 c.
> MlS will fly.




I'm very happy to see this moving on no ann in this market! Agree that there seems to be good support for 3.5 for the time being.


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## imajica

solid bullish close with some strong afternoon buying (nice big 1/2 - 1 million share orders) - could there be an announcement soon?

it is a strong indicator for further price appreciation tomorrow - will we see 4 cents tomorrow? I believe we might


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## sleeper88

strong buying today, up to 3.5c


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## two40

just waiting for an ann


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## two40

ann a few min ago, get em while they're hot.


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## Jus

this baby is taking off. year high 0.042 isn't far away. worth a watch..


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## sleeper88

up 10.5% to 4.2c


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## giss

anyone think there is going to be more upside to mls soon?


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## Halba

technical breather? i think next leg closer to its next drilling

but theres no denying the baby is undervalued...4 cents cmon...for a zinc mine!


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## nizar

giss said:
			
		

> anyone think there is going to be more upside to mls soon?




Yes closed at 5-year highs. Looking at the volume yesterday, this is gonna run.


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## Sean K

nizar said:
			
		

> Yes closed at 5-year highs. Looking at the volume yesterday, this is gonna run.



I agree. This is looking very good. I think I might have to get on this baby. Haven't looked at what it does yet. Make washing machines?


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## Sean K

I'm in.

Will probably tank now.


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## nizar

kennas said:
			
		

> I'm in.
> 
> Will probably tank now.




LOL Please dont say that im in this as of yesterday.


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## sleeper88

been holding this for a while, my patience is paying off now   all we need now is more drilling and an updated resource estimate


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## two40

made a tidy profit on this accidentally. my boss was chatting away at yesterdays open when it broke 4c and my sell order was filled  

have fun with this one, lots of buyers atm.


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## Caliente

great AGM. the sound of Oxiana and Jabiru, my two babies being mentioned in the same room ^_^ is sweet sweet music to my ears!

Bring on Manindi!     
welcome on board kennas


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## nizar

Kennas and others,

What do you guys make of this one now?

Was making higher highs and higher lows up until thursday. Thursday i was expecting a breakout but doesnt matter, it still made a higher high and higher low than thursday. So trend was intact. But friday was disappointing.

4.2c or above is where its gotta close if its gonna break out. Seems to be support at 3.6-3.7c. So consolidation between 3.7-4.2 for a while? Or a breakout still imminent? Maybe i was a tad early entering into this one.

Thoughts?


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## CanOz

I got in and out of this a couple of times over the last month, and i sold my last pos. on Tuesday, missing the other big rise on Thursday as i thought that it would struggle to get through the previous days high. With the week closing just off the highs for the last 5 years i would look for this to consolidate before making new highs pushing through the triple top resistance. Again, all depends on POZ. This does however, make for a nice low risk setup too, with a stop just below .04, say .036 or .037.

Cheers,


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## CanOz

Heres the triple top on the five year chart, keep in mid this was another company back then too, or at least another name.


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## nizar

Thanks for that Can.


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## Sean K

CanOz said:
			
		

> Heres the triple top on the five year chart, keep in mid this was another company back then too, or at least another name.



The lows and highs are getting higher since 03. Long term up, but pretty volatile though. Is overbought.......I'm going to give it a bit of room to move. Like the prospects.


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## sleeper88

encouraging results for its zinc project, up to 4.7c


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## Sean K

I'm out - taking the money and running to the pub!


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## SevenFX

kennas said:
			
		

> I'm out - taking the money and running to the pub!




Hang in there K, you could pay for your supper to...


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## sleeper88

SevenFX said:
			
		

> Hang in there K, you could pay for your supper to...




im still holding, got in @ 2.7c, this could pay off big time


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## CanOz

This little company could provide for some interesting action over the next few months, especially if there is some consolidation in the Zincers. Once they have thier resource proven, why would the likes of CBH, ZFX and KZL not look at them? They have 0 debt, what could the resource be worth?

Any mining gurus like to offer an opinion on the fundementals of such action. I guess i'm looking like a might hold this one for a longer term and i'm interesting in the possibilities.

Cheers,


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## SevenFX

sleeper88 said:
			
		

> im still holding, got in @ 2.7c, this could pay off big time




Notice you were one of the first few that got onto this when I first posted, well done Sleeper.

Since then quite few been in "n" out....but not many holders...


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## SevenFX

Buyers keep Accumulating, and Sellers staying much the same,,,,

Looks like a strong Close...


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## white monkey

Got in myself at 3.0c so am very VERY happy with how this little one has been performing of late.  Would be interested to hear from any other holders out there how they a planning to play this one over the next few days?
cheers


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## sleeper88

well, im getting very very tempted to sell and lock in my profits, but im going with my gut feeling, ie to hold for the longer term. But as always if you're trading this, just follow the rules you set out


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## Caliente

hey sleeper88, similar story really. Going to hold out for a bit longer. This one's got real potential. 

I honestly think that a company with a relatively small market cap and such high quality grades of Zinc as MLS is going to get swallowed by one of the bigger players sometime in the near future.


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## white monkey

yep, me too! i think i have exactly that mindset at the moment as well!


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## nizar

CanOz said:
			
		

> This little company could provide for some interesting action over the next few months, especially if there is some consolidation in the Zincers. Once they have thier resource proven, why would the likes of CBH, ZFX and KZL not look at them? They have 0 debt, what could the resource be worth?
> 
> Any mining gurus like to offer an opinion on the fundementals of such action. I guess i'm looking like a might hold this one for a longer term and i'm interesting in the possibilities.
> 
> Cheers,




Can, good to see you jumped in this one.
I will hold for a few days to see how it pans out.
From my experience, theres no reason to sell now as the volume momentum is there, and it has broken into new highs.

Does any1 remember what happened when DYL broke 20c on volume and when AUZ broke 4c on volume and what happened when AIM broke 17c on volume ?

Could be a multiple R trade this one.

Any close above 4.2c is bullish.


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## SevenFX

nizar said:
			
		

> From my experience, theres no reason to sell now as the volume momentum is there, and it has broken into new highs.
> 
> Does any1 remember what happened when DYL broke 20c on volume and when AUZ broke 4c on volume and what happened when AIM broke 17c on volume ?
> 
> Could be a multiple R trade this one.
> 
> Any close above 4.2c is bullish.




Well put Nizar, tend to agree, as is lookin very good IMO.


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## giss

in at .041 on breakout comments. Looks like a winner. Going to hold for a while a least!


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## Sean K

I actually accidentally sold this. I put a sell order out there last week and forgot about it.    When I saw the ann this am I would have cancelled the order to let it run further. Missed out on a few beers!


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## sleeper88

well well well..closed at 5.4c with a volume of approx 100m

i've been flicking through the company's website and came across some information on its Namibian Uranium prospects. From historical exploration data, an non-jorc estimate of 1930t of U @ 0.034% was derived for the Engo Valley deposits. 

So this small beauty has 2 of the hottest commodities Zn & U


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## SevenFX

Morning All MLS Holders,

Looks like this *Little* rocket is gonna start the day heading *UP*, so lets hope it will stay...


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## Sean K

SevenFX said:
			
		

> Morning All MLS Holders,
> 
> Looks like this *Little* rocket is gonna start the day heading *UP*, so lets hope it will stay...



Yes, looks promising atm doesn't it. Great pick.


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## sleeper88

good morning all, indeed it looks very impressive, should be another good day


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## SevenFX

kennas said:
			
		

> Great pick.




This is prob where GDN, PMH, CDU all started off, and look at them now...

This is takin a good bounce this morn, but IMO sure it will recover b4 end of day....traders just lockin in profits...after big day yesterday...


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## nizar

sleeper88 said:
			
		

> good morning all, indeed it looks very impressive, should be another good day




Im out.


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## SevenFX

nizar said:
			
		

> Im out.




What did you get out at Nizar, and are you back in...????  

EDIT: Are you trading this stock or were you planning on holding it.


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## nizar

SevenFX said:
			
		

> What did you get out at Nizar, and are you back in...????
> 
> EDIT: Are you trading this stock or were you planning on holding it.





This needs to close at or above 5.4 to maintain the uptrend. In my opinion.


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## SevenFX

nizar said:
			
		

> This needs to close at or above 5.4 to maintain the uptrend. In my opinion.




Agreed, but think selloff this morning were just profit takers, rather than a change in trend.

EOD will reveal all.... my neck & $$$ is on the line now.... :dance:


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## tech/a

SevenFX said:
			
		

> Agreed, but think selloff this morning were just profit takers, rather than a change in trend.
> 
> EOD will reveal all.... my neck & $$$ is on the line now.... :dance:




Tend to agree. The chart tells the tale currently.

This is a 5 min chart.


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## Snakey

im in as deep as i can get
this ones a winner i recon price now 5.2


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## Snakey

could be slow moving for next couple of days as profit takers cash up from ann,  after that ????? 
plenty of volume


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## Raging Bull

I am making the typical beginners mistakes. bought in on the 22 at .041 sold again on the 24 at .041..     

Bought in again yesterday at .052  

Now I'm gonna hold for a while as long as it stays around my buy in price...


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## nizar

Raging Bull said:
			
		

> I am making the typical beginners mistakes. bought in on the 22 at .041 sold again on the 24 at .041..
> 
> Bought in again yesterday at .052
> 
> Now I'm gonna hold for a while as long as it stays around my buy in price...





Hey dont worry about it mate.
Happens to all of us at some stage.
I did something really stupid with WMT last week. But who cares, i will NEVER make the same mistake again.


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## dj_420

hey nizar, i was tempted with WMT, but i have learnt my lesson not to chase like with CDU. almost did it but resisted.

we all learn from lessons anyway.


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## Raging Bull

nizar said:
			
		

> Hey dont worry about it mate.
> Happens to all of us at some stage.
> I did something really stupid with WMT last week. But who cares, i will NEVER make the same mistake again.




thanks nizar.. my stop loss just fired at .05 I am out and that's cool with me. Didn't loose too much.. I bought in late with WMT last week too but still made $600 on it.. guess I was hoping for a repeat here... lesson learned, GET IN EARLY!!!


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## Snakey

mls down for a few days and then up again above recent highs
(My guess) give this stock two weeks


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## SevenFX

nizar said:
			
		

> Hey dont worry about it mate.
> i will NEVER make the same mistake again.




I'm Guilty,

And have made the same mistake twice...as find the market is always just slightly different eventhough some trades seem the same...????

Gee I wish I could be as disiplined as you...


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## SevenFX

Snakey said:
			
		

> mls down for a few days and then up again above recent highs
> (My guess) give this stock two weeks




Hi Snakey,

Today is a harsh day for MLS to *Run*, as XJO heavily down some 70pts and XSO also down some 50pts...

Bugger


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## Snakey

SevenFX said:
			
		

> Hi Snakey,
> 
> Today is a harsh day for MLS to *Run*, as XJO heavily down some 70pts and XSO also down some 50pts...
> 
> Bugger




hi tekmann
other stocks ran today MSC  for example spewin i sold those this morning to trade these now i will have to wait for profits i will hold my MLS for two weeks. look at all those buyers, buying at very good prices
one rule i have is wait three days after good ann and then buy
broke that rule and paying for it now
stupid rules


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## two40

nizar said:
			
		

> Hey dont worry about it mate.
> Happens to all of us at some stage.
> I did something really stupid with WMT last week. But who cares, i will NEVER make the same mistake again.




lost a stack on that one a couple of weeks ago.

bought mls at 3.2 and sold accidentally while my boss was talking to me at 4. this was last wed i think. 

to top it all off i bought eve on the same day and sold it on Fri just as market was closing. wish i'd kept that sucker


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## SevenFX

OK, so EOD with a close of .05c would be now safe to say the trend has changed, even if for a short time.

Will still watch over next couple of days lookin for another entry to 2add., as IMO it's got a lot more to go.

Cheers ALL....see you at work 2morrow.


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## nizar

SevenFX said:
			
		

> Will still watch over next couple of days lookin for another entry to 2add., as IMO *it's got a lot more to go.*




Agree.


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## sleeper88

look at this baby go..up to 6c now  

its going up every time i click refresh


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## Sean K

Geesh, I am SO happy I accidentally sold this at 4.6...


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## white monkey

6.4!!


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## imajica

i originally bought 5k worth at 2.2cents - stupidly traded them three times for a few hundred profit each time - missed out on 10k - not happy jan


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## nizar

Snakey said:
			
		

> Get ya hot cakes while they last




Back on at 5.5c this morning.

I didnt like yesterdays dump, not only a sell-off but the volume almost as high as the spike.

Today looks very nice.

This stock is a winner.


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## tech/a

Having fun??


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## white monkey

that is an amazing start to the day.  up 30%, near record volume and all in one hour on no news! Bought in at 3c and was planning a long term hold on these, but dumping half is getting more and more tempting at these prices.


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## nizar

white monkey said:
			
		

> that is an amazing start to the day.  up 30%, near record volume and all in one hour on no news! Bought in at 3c and was planning a long term hold on these, but dumping half is getting more and more tempting at these prices.




No news?
Remember it was those (very) high grade zinc drilling results that fueled this run.
When it was released on Monday there was (only) 5mil volume at 1pm. Price about 4.2 up 1 tick. Then 1:08pm news announced. The next 1 hour about 50mil went through.


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## tech/a

This is a 1 min chart as you can see buying is outstripping selling.

While this maintains in consolidation areas the stock will run.
Be wary of stocks which rise over 30% in a day or 50%+ in a few days they wont rise in definately.
Currently looks strong. but could change.

Note the critical support zone in the second/tick chart.


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## white monkey

was meaning no news today. thought it would have taken something this morning to make it run that hard in one hour.  Agree, monday's ann was a bigg'un


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## KIWIKARLOS

with the quantity and concentrations of the deposits and the big potential of there zinc projects what does everyone think the stock can potentially rise to? perhapes 10 -20c  :


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## powerkoala

big buyers are in.. with support level 6.6c
and resistance 6.7c..
if this break... 
wow... 10c maybe in few hours


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## nizar

KIWIKARLOS said:
			
		

> with the quantity and concentrations of the deposits and the big potential of there zinc projects what does everyone think the stock can potentially rise to? perhapes 10 -20c  :




I think it will stop at 10c, sometime later this week. Or 10.5c.
Like AUZ and WMT. Those 0.5c increments usually act as a barrier.

Its traders pushing this up. They probably got no clue about their zinc projects. All they know is that MLS is the code and that its going up with high volumes. But thats enough.


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## sleeper88

powerkoala said:
			
		

> big buyers are in.. with support level 6.6c
> and resistance 6.7c..
> if this break...
> wow... 10c maybe in few hours




could also end the day with  +500m in volume


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## tech/a

Nizar.

You are correct i'm watching large day trades dumping 2-5 million lots which were bought in ithe initial buy up.

Currently the smaller market is absorbing them.

If and when they go or they decide that there are more legs in this and re buy then it has the potential to run.
Currently .066-.068 is the critical level.


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## U38

Total class issue =669608765,Ground value $450m. How high the sp go to? :


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## noobs

Nizar, A quick question in regards to your trading methodology on MLS -

1. For this sort of volatile stock do you use a trailing stop adjusting frequently to the change in SP?

2. Do you set a profit target eg out at 10c or do you use your trailing stop too let your profits run and than get stopped out accordingly?

3. What triggers do you look for too exit eg. Market depth, intuition, i min chart etc?

Any help would be much appreciated.


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## powerkoala

this huge volume is happening in 1 hour and 48 minutes
it's really crazy today....
i should hold when i bought at 2.5c  
sold to early at 4.1c...
now... whoosh... can't imagine anymore


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## tech/a

out at .064


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## noobs

Tech/A

Could you possibly povide some hints as to what triggered your exit?


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## nizar

tech/a said:
			
		

> Nizar.
> 
> You are correct i'm watching large day trades dumping 2-5 million lots which were bought in ithe initial buy up.
> 
> Currently the smaller market is absorbing them.
> 
> If and when they go or they decide that there are more legs in this and re buy then it has the potential to run.
> Currently .066-.068 is the critical level.




There was strong buyers in the depth at 6.5, 6.6 and 6.7.
One seller dumps his truck and took them all out.
Sellers winning for last few minutes.
The arvo will be interesting.


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## nizar

noobs said:
			
		

> Nizar, A quick question in regards to your trading methodology on MLS -
> 
> 1. For this sort of volatile stock do you use a trailing stop adjusting frequently to the change in SP?
> 
> 2. Do you set a profit target eg out at 10c or do you use your trailing stop too let your profits run and than get stopped out accordingly?
> 
> 3. What triggers do you look for too exit eg. Market depth, intuition, i min chart etc?
> 
> Any help would be much appreciated.




1. No. I try to take a longer term view. ie. a few days. I dont want to be stopped out if overall the trend is still up.

2. I exit when i think the trend has changed. Exits are still more discretionary for me compared to entries, which are clear cut.

3. Market depth i dont think is all that useful. Most of the big buys/sells come from off-screen.

My trading is very much a working progress. Let me stress the VERY MUCH part.

Tech/a is the expert. And id also be happy to hear his views.


----------



## IGO4IT

nizar said:
			
		

> 1. No. I try to take a longer term view. ie. a few days. I dont want to be stopped out if overall the trend is still up.
> 
> 2. I exit when i think the trend has changed. Exits are still more discretionary for me compared to entries, which are clear cut.
> 
> 3. Market depth i dont think is all that useful. Most of the big buys/sells come from off-screen.
> 
> My trading is very much a working progress. Let me stress the VERY MUCH part.
> 
> Tech/a is the expert. And id also be happy to hear his views.




Adding your post Nizar, we have to always admit that when any share is to be pumped to dumped (even in a fake way), that we still have to follow, I've gone out few minutes ago @ 6.6c as I realised that the big order on buy, these are even walls to sell on higher or to prove a point that resistance is around that level....in both cases & even that I know for sure that is a "man made" resistance not natural dynamics but still had to act on end result that market will be weaker once that big wall from 6.6-6.8 will be destroyed.

Thinking of entering on weakness again early 6c & if I'm a perfectionist then I would defenitely wait for the sharp 6c.

current price 6.3c & volume traded 198m, don't know how far can volume go in 1 day but defenitely not far more here, I would say below 300m defenitely to allow space for further test to highs in coming days.

cheers,


----------



## noobs

Thanks heaps for the reply Nizar I have been closely following your threads on this and shares.com.au and although you consider your trading to be a work in progress I have learnt alot from your comments and I'm sure I am not the only one to be appreciative of your posts. 

I too would be interseted to hear tech/a's opinion as he/she appears to be a battle hardened veteran when it comes to Technical analysis and trading in general.


----------



## SevenFX

Good to see everyone making plenty of money. 

As Kennas says, make sure you've got your seat when the music stops.

Where are you K. not here I'm assuming...but Tech your take always welcome.

Tks
SevenFX


----------



## tech/a

*nizar.*

In answer to your question.


----------



## nizar

IGO4IT said:
			
		

> Adding your post Nizar, we have to always admit that when any share is to be pumped to dumped (even in a fake way), that we still have to follow, I've gone out few minutes ago @ 6.6c as I realised that the big order on buy, these are even walls to sell on higher or to prove a point that resistance is around that level....in both cases & even that I know for sure that is a "man made" resistance not natural dynamics but still had to act on end result that market will be weaker once that big wall from 6.6-6.8 will be destroyed.
> 
> Thinking of entering on weakness again early 6c & if I'm a perfectionist then I would defenitely wait for the sharp 6c.
> 
> current price 6.3c & volume traded 198m, don't know how far can volume go in 1 day but defenitely not far more here, I would say below 300m defenitely to allow space for further test to highs in coming days.
> 
> cheers,




IGO,

Agree.
I think about 300m volume today.
Any close above 5.5 is bullish. That still means higher highs and higher lows. Upwards trend will be intact.

But above 6 would be nice.


----------



## Sean K

SevenFX said:
			
		

> Good to see everyone making plenty of money.
> As Kennas says, make sure you've got your seat when the music stops.
> 
> Where are you K. not here I'm assuming...but Tech your take always welcome.
> 
> Tks
> SevenFX



I've had to step out unfortunately. I mean had a meeting.

I didn't get back in. Thought I missed the boat.....Well, I caught it just at the right time, but jumped too early..


----------



## nizar

tech/a said:
			
		

> *nizar.*
> 
> In answer to your question.




Tech/a

Thanks for your response.

WHile its obvious why you would be in again if price goes above 6.8c. But if it drops significantly, why would you re-enter?

Is it because the longer term (daily) chart is still upwards trend overall and it could still rally in the coming days.

In my opinion, This needs another 100m volume if its gonna make new highs today. May happen. May not.


----------



## tech/a

*But if it drops significantly,*

significantly being the optimum word here.

That doesnt necessarily mean today.
Its in pause mode now and may range around for a while.
I'd be suprised to see significant gains from here today.(above .067)


----------



## nizar

tech/a said:
			
		

> *But if it drops significantly,*
> 
> significantly being the optimum word here.
> 
> That doesnt necessarily mean today.
> Its in pause mode now and may range around for a while.
> I'd be suprised to see significant gains from here today.(above .067)




I agree. Probably wont make new highs today.

But you just never know. WMT i left the house on friday at 1pm. Price was 6.6c. Hit 7.3c and then went down to 7.1c. Ranged around for a while between 6.6 and 6.8. But yeh when i left last sale was 6.6. I came back home at 2:30pm. Price was 8.4. Had lunch. 3:00 it already hit 10.

I realise WMT in that sense is probably more the exception than the norm for these sorts of moves.


----------



## Snakey

I have a rule... never sell on a lunch time low (1pm)
Most trades i hold for days
when the trend turns ...I sell
I still hold for now.... to see what the arvo will bring.
touch and go

30 per cent is healthy for one day


----------



## toc_bat

Hi guys,

Im a newbie. 

So far after an excellent first gain on CAZ, (my first day of trading was when it rocketed from 40c to 84c in about 1-2hrs on 1st August - maybe such a full on introduction was a BIT misleading, i thought id be doin that sort of thing on a regular basis) this got me thinking how easy this game is and what super gains can be had. Well ive lost my initial gain and some more as well, by running all excited and blind and entering on highs only to see them drop. I feel like a seagul attracted by frenzied squawking and commotion at the north end of the beach, only to arrive just to see the flock disperse and no chips in sight.

If I was to do with this stock what ive done a few others lately id buy it now, no hang on , NOW NOW NOW YES YES NOOOOOOOOOWWWW!!!!!

So ive read this thread very methodically, twiceish now, and the couple of weeks worth of announcements and it looks like from all the above comments that now is a risky time to buy. As it may teeter here for a couple of days or fall off. Although it is still potentially worth a possible 10c? no?

Tech/a - you mention significant drop, is that 20% or 30%?

What if it closes very strongly today, would you guys get in just before the close? or wait till tomorrow mornings open?

thanks all

ps ironically i added this to my watchlist on the 6/11 when it was around 3.3c, but steadily ignored it since until just a few too late days ago, ay karamba


----------



## CanOz

I agree that when the price drops over a period of low volume, it shows an unwillingness to sell. Such is the case today over lunchtime. This happens quite frequently and i'm not selling until i see the afternoon session play out, provided that selling volume doesn't enter the picture before that.

Cheers,


----------



## Caliente

Morning/afternoon gentlemen. Looks like MLS is weathering the lunchtime "storm" with bravado. I'm in the hold until the next significant announcement boat however, but am watching the sp intently.

Best of luck to all holders, including myself ^_^


----------



## nizar

toc_bat said:
			
		

> now is a risky time to buy. As it may teeter here for a couple of days or fall off. Although it is still potentially worth a possible 10c? no?




From all indications on the chart, nothing according to my (amateur at best) interpretations says that this run is over. Monday was a break of 5 years of resistance at 4.2c. Thats very significant.

I cant see why it wont run to 10c.

*But for now*, we need high volume, maybe 50-100million, if we were to make new highs today.

Even if we dont make new highs and it closes where it is now, that will look very nice on the charts, and thats a close in the top half of the days trading range, and i think it will gap up 2mrw but only if the volume is there (and it should be due to end of day traders) to overcome the sellers lined up at 6.7 and 6.8 (there will be more of these if we do close at 6.3-6.5).



			
				toc_bat said:
			
		

> What if it closes very strongly today, would you guys get in just before the close? or wait till tomorrow mornings open?




Well im already in this. But as tech/a indicated, and i agree; if it hits above 6.8c and makes new highs for the day, there wont be a reason to not re-enter.
But if the above happens, likely a gap up then a sell off.

Remember the above are my opinions only and im just an AMATEUR.


----------



## CanOz

toc_bat said:
			
		

> Hi guys,
> 
> Im a newbie.
> 
> So far after an excellent first gain on CAZ, (my first day of trading was when it rocketed from 40c to 84c in about 1-2hrs on 1st August - maybe such a full on introduction was a BIT misleading, i thought id be doin that sort of thing on a regular basis) this got me thinking how easy this game is and what super gains can be had. Well ive lost my initial gain and some more as well, by running all excited and blind and entering on highs only to see them drop. I feel like a seagul attracted by frenzied squawking and commotion at the north end of the beach, only to arrive just to see the flock disperse and no chips in sight.
> 
> If I was to do with this stock what ive done a few others lately id buy it now, no hang on , NOW NOW NOW YES YES NOOOOOOOOOWWWW!!!!!
> 
> So ive read this thread very methodically, twiceish now, and the couple of weeks worth of announcements and it looks like from all the above comments that now is a risky time to buy. As it may teeter here for a couple of days or fall off. Although it is still potentially worth a possible 10c? no?
> 
> Tech/a - you mention significant drop, is that 20% or 30%?
> 
> What if it closes very strongly today, would you guys get in just before the close? or wait till tomorrow mornings open?
> 
> thanks all
> 
> ps ironically i added this to my watchlist on the 6/11 when it was around 3.3c, but steadily ignored it since until just a few too late days ago, ay karamba




You need to be entering your trades before all of this happens, based on a signal of some sort. I did the same as you when i first started. Now i enter because the chart looks right to enter, and then i place a stop at support, then i look for a reasonable exit. Then i stick with the plan.

Anyway, good luck.

Cheers,


----------



## SevenFX

That 6.3c supppppport is really being hammered, and suspect (neck out) it will not hold.

6.3 (27.1m) -6.4c (28.2m) is where most of the trades have been placed.


----------



## nizar

SevenFX said:
			
		

> 6.3 (27.1m) -6.4c (28.2m) is where most of the trades have been placed.




SevenFX,

What software do you have to tell you the volume at each price?


----------



## Caliente

SevenFX said:
			
		

> That 6.3c supppppport is really being hammered, and suspect (neck out) it will not hold.
> 
> 6.3 (27.1m) -6.4c (28.2m) is where most of the trades have been placed.




excellent info Tekk! You're right, 0.63 just got broken!


----------



## IGO4IT

nizar said:
			
		

> From all indications on the chart, nothing according to my (amateur at best) interpretations says that this run is over. Monday was a break of 5 years of resistance at 4.2c. Thats very significant.




In most cases, if a new high is reached then a re-test is imminent, so even if it falls back to early 6c or even high 5c then it will be a chance imo to re-enter.

with a volume like today, we can easily say that its a matter of time before it hits 7.5c....if not to stay but at least to trial it.

That's my  , for me, its all about watching the right moment to jump back in.

cheers,


----------



## ezyTrader

Snakey,



> I have a rule... never sell on a lunch time low (1pm)




Do you buy on lunch time low?


----------



## Snakey

still to close to lunch for me

.062 lunch time low


----------



## Snakey

ezyTrader said:
			
		

> Snakey,
> 
> 
> 
> Do you buy on lunch time low?





yes often
if i like a share enough and it is the first day of the run... yes


----------



## SevenFX

Whilst MLS has had a significant grade find, and the traders have definetly dropped in, the market has recovered all that it lost yesterday (some 60pts) which has undoublty had a green affect on this little baby...and my screen for that matter.


----------



## CanOz

Heres a screen shot of that lunchtime volume.


----------



## nizar

SevenFX said:
			
		

> Whilst MLS has had a significant grade find, and the traders have definetly dropped in, the market has recovered all that it lost yesterday (some 60pts) which has undoublty had a green affect on this little baby...and my screen for that matter.




If yesterday wasnt such a significant downday in the market in general, this wouldve run. Even if DOW only fell by 50pts because oil&gold were still up and metals down only significantly, our markets wouldve held up and this wouldve ran.

Bit of a pity but thats how it goes.

Same thing happened to AUZ a few weeks, Big volume rise one day, looked bullish, then the next day the index XJO fell by 100pts, and it was game over. At least for the time being.


----------



## nizar

CanOz said:
			
		

> Heres a screen shot of that lunchtime volume.




Can, are you watching FML?
Could be a goer.


----------



## CanOz

Somebody just returned from lunch.


----------



## CanOz

nizar said:
			
		

> Can, are you watching FML?
> Could be a goer.



Yes Nizar, i have been but i was too late, no funds left. Its also got a nasty gap, i don't like those. Might be a buy later though.

Cheers,


----------



## SevenFX

CanOz said:
			
		

> Somebody just returned from lunch.




Not just somebody, *MR* Somebody...to all of us.

EDIT He/She/They just bought out 5-10m within few mins, but MLS is no BHP are they.


----------



## SevenFX

OK so here we are at the top end of the channel (so quickly) and 29.8m sold at 6.7c and 12.8m sold at 6.8c

EDIT: few tests of 6.8c now, so maybe...


----------



## CanOz

Sellers around but not in volume...'someone' seems happy to pick them up at .066.


----------



## toc_bat

thanks for your replies all, 

yes i think i need to take a step back and reevaluate my methods, basically i think im way too inexperienced to be chasing prices and charts now, i think i need to rely more on research, whether that means reading lot of ann or just traweling through forums like these and seeing what people are excited about then researching it, 

Nizar, a Q regarding the below:



> I cant see why it wont run to 10c.
> 
> But for now, we need high volume, maybe 50-100million, if we were to make new highs today.




Its already got 230 million odd for the day so far, do you mean 50-100mil more?



> Even if we dont make new highs and it closes where it is now, that will look very nice on the charts, and thats a close in the top half of the days trading range, and i think it will gap up 2mrw but only if the volume is there (and it should be due to end of day traders) to overcome the sellers lined up at 6.7 and 6.8 (there will be more of these if we do close at 6.3-6.5).




let me see if i interpret what u have said correctly, if there towards the end of the day there is enough volume , 50-100mil more to take out the 6,7-6,8 sellers and close on a high, then it would be a reasonably good assumption to buy before close? As when you say "and i think it will gap up 2mrw but only if the volume is there" you mean gap up if there is more vol this arvo?

ok thanks guys,


----------



## CanOz

Its seems no small players are selling much, 'someone' is going to have to pay more. Very interesting price action here. Price increasing on lowish volume.


----------



## nizar

toc_bat said:
			
		

> thanks for your replies all,
> 
> yes i think i need to take a step back and reevaluate my methods, basically i think im way too inexperienced to be chasing prices and charts now, i think i need to rely more on research, whether that means reading lot of ann or just traweling through forums like these and seeing what people are excited about then researching it,
> 
> Nizar, a Q regarding the below:
> 
> 
> 
> Its already got 230 million odd for the day so far, do you mean 50-100mil more?
> 
> 
> 
> let me see if i interpret what u have said correctly, if there towards the end of the day there is enough volume , 50-100mil more to take out the 6,7-6,8 sellers and close on a high, then it would be a reasonably good assumption to buy before close?




Correct. According to my (very limited) experience. Remember when i said that it was about 200mil volume.

Even if it closes at the top part of its trading range for the day, so, above 6cents. There's a 70-80% chance of it gapping up tomorrow.

(forget about what i was saying about more volume, i was repeating myself unnecessarily).

Good luck.

Just for your info: my trading method is based on a break into all time highs or above previous resistance ie. 1 year highs, 3 year highs. The more historical the resistance and the increasing number of times it has tested this resistance in the past, the more significant the breakout.

So INL and PEN were looking prime from a few days ago. I couldve taken the position early like i did with MLS. With stop below the support. ie. PEN 4.2, INL 16 or 17. Or i could wait for the breakout to avoid a trade which doesnt go anywhere (ranges within its consolidation).

Price is king but volume is also important (i like to call it Queen). A break with volume would make for a low(er)-risk entry.


----------



## Snakey

IMO This share is on track for another increase tomorrow.
I'll hold at least till then.


----------



## toc_bat

thanks nizar, 

i must say without an online commuinity like you guys this would be an extremely boring undertaking, esp whilst loosing money.

yes price is king, volume is queen, and i feel like their fool at the moment

edit : most of you guys have the advantage of holding form a while back, but would you go in today, before close, at the current 6,7-6,8 mark? i had my finger on the mouse buon at 6,3 during the lunch slowdown, hindsight is a cool thing


----------



## CanOz

You think so Snakey? I've got to make a decision in the next 30 minutes, our server is going down for the last hour of trading believe it or not  , i feel like its good some good support at these prices now, market sentiment remaining in tact.

 

Cheers,


----------



## Snakey

share cycles:
(imo)
first comes ann 
then comes hyp over ann and price goes up
then comes profit taking from the hyped up price and the price falls(Many people sell on good ann)
then comes bargain hunters to buy cheap shares
then comes price increase from demand for good value buying
then comes more profit taking and price falls to far
then comes bargin hunters and the price goes up to far
then comes profit taking and the price settles where stays for the time being

TIME OF EACH CYCLE IS INDIVIDUAL TO EACH SHARE
9 times out of ten shares will trade in this fashion
(IMO)


----------



## Snakey

CanOz said:
			
		

> You think so Snakey? I've got to make a decision in the next 30 minutes, our server is going down for the last hour of trading believe it or not  , i feel like its good some good support at these prices now, market sentiment remaining in tact.
> 
> 
> 
> Cheers,




Looks good.
First day of run, but risky trade.


----------



## CanOz

This has got to be some pro money, a parcel of 1203 shares were sold @ .066 to flush out more sellers at .067!


----------



## toc_bat

snake

why do you refer to this day as First day of run? 

how come you dont consider monday as the first, it rose 28%, or from 5,4 to 4,2c?

thanks


----------



## SevenFX

toc_bat said:
			
		

> take a step back and reevaluate my methods, basically i think im way too inexperienced to be chasing prices and charts now, i think i need to rely more on research, whether that means reading lot of ann or just traweling through forums




Sorry did'n't get back earlier Toc_Bat , 

But 2 much happening...Anyway ,

I've cut a couple of things you said, and wanted to refer to them.

If your not reading charts and price action, your then reading reports, anns, etc which is whats commonly knows as a fundermentilist..(for me this is more time consuming, and time is more precious than money)

Chartists, read historical data which human emotions, geopotitical events & perhaps calander anns are all factored into the charts.. (only new here 2, so forgive me if I'm wrong)

If you can try to find a balance of both, and perhaps paper trade for while more, before fingers get 2 badly burn't.




			
				toc_bat said:
			
		

> I feel like their fool at the moment
> 
> edit : but would you go in today, before close, at the current 6,7-6,8 mark?
> hindsight is a cool thing




We all start somewhere, usually inexperienced, and gain experience if we don't throw it in, or don't put to much on the table (expensive way to gain experience)


Also while you get advice from people here, bare in mind your money is most important to you, and not us, hence you should draw your conclusions from facts you have formed and not from forum chatter, that may be right or wrong..

Just my take on it...hope it helps.
Cheers
SevenFX


----------



## Snakey

Last chance to get on @.068


----------



## sleeper88

hit 7c now...


----------



## Bullion

Looks to be heating up again


----------



## SevenFX

Snakey said:
			
		

> Last chance to get on @.068




Is that b4 it crashes down to earth Snake 
	

	
	
		
		

		
			





, or rockets up to Pluto....
	

	
	
		
		

		
		
	


	




???

EDIT This is UP 40%, and rarely can most shares go further in one day.....

There are lots of newcommers here, so sure they'are easily influenced...


----------



## powerkoala

darn it, 
just enter 0.064 and out at 0.067
and in 2sec it went to 7c ????? 
#@@^@#@#@%#$@


----------



## tech/a

waiting at .069  

Its suprised me.


----------



## SevenFX

tech/a said:
			
		

> waiting at .069
> 
> Its suprised me.




So what your take on it now Tech.

EDIT: Massive 43m at 6.7c, which may prove to be strong support, if there's such a thing today : 

Cheers All. duty calls elsewhere...


----------



## powerkoala

this is too much for today....
almost 300m volume by the end of today....
what a nice turn over....
well... i will stay away for awhile... 
good luck for holders


----------



## mildew79

i was on borrowed money and had to bail yesterday @ 0.051  

good luck all you holders, no longer meets my trading rules. maybe after next consolidation break  

if you got in lower than 0.052 why would you sell on 300m volume at this stage??


----------



## noobs

I am a noobie (hence the name) but 300million+ volume would be a good reason not to sell as it is still in a clear uptrend and may gap up tomorrow - Refer Nizar's previous post. Any close above .065 is good news and in my opinion tends to suggest the momentum is still heading northwards. Watch those sellers coming in b4 close.


----------



## tech/a

This is a 1 min chart


----------



## Snakey

SevenFX said:
			
		

> Is that b4 it crashes down to earth Snake
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> , or rockets up to Pluto....
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> ???
> 
> EDIT This is UP 40%, and rarely can most shares go further in one day.....
> 
> There are lots of newcommers here, so sure they'are easily influenced...




sorry tekmann
i was getting a little excited
you are right

still think they're good buying
and on track for increase tommorrow


risky trade now though
i bought at average 5.4 @ 1.25m
so you can see why i am so excited


----------



## SevenFX

Snakey said:
			
		

> sorry tekmann
> i was getting a little excited
> you are right




Pls don't apologise and definitely not to me....

I just trying to keep excitement balanced for newcomers, as I remember what it was like when I first dived into the deep end TRADING (mistake)

EDIT: Def have to go now, duty calls elsewhere...bye all


----------



## toc_bat

well it looks like a very positive close is about to happen.

quite likely it will continue tomorrow, but since i havent traded this yet and given my latest experiences i am reluctant to buy in now, it there maybe a lot of profit taking 2moro.

so i guess if the run continue tomorrow one can always get it on it then, i wouldnt have any probs holding if i bought in at open today, or maybe even 6.3c at lunch.

thanx for the advice guys.


----------



## CanOz

I'm out .067, as soon as .068 wouldn't hold.

Good luck to those remaining.

Cheers,


----------



## noobs

Likewise snakey this seems to be following a very similar path to WMT!


----------



## nizar

CanOz said:
			
		

> I'm out .067, as soon as .068 wouldn't hold.
> 
> Good luck to those remaining.
> 
> Cheers,




Im out as well.
Good luck 2 all.

This one still has some legs i feel. But can always enter again.


----------



## tech/a

Sold at close, finish not strong enough for me.


----------



## toc_bat

well i kinda accidentally bought em at those 4.10pm trades. i was mucking around with an order and then decide to cancel it only to be told i cant, cant cos the orders been filled, so i got some at 6.6c

hope u r right snakey and noobs.

edit : at least now i know what those 4.10pm trades are about, goodness me i really am a newbie fool.


----------



## powerkoala

i wonder will there be a yellow card or red card regarding today's volume ?
jeez a massive 309 mil... that 4 times volume yesterday or day before....
going to be excited tomorrow...


----------



## Snakey

i am holding until this finishes


----------



## tech/a

Snakey said:
			
		

> i am holding until this finishes




Interested in how you will classify---finished?


----------



## Royce

tech/a said:
			
		

> Sold at close, finish not strong enough for me.




Up 32% and closed close to its high of 7 cents, but finish not strong enough for you ?

You must be very hard to please.

Royce


----------



## Snakey

tech/a said:
			
		

> Interested in how you will classify---finished?




sellers out weigh bidders
profit takers race in
price crashes below day high by more than 18%
i dont normally get the top but i get maximum achievable profit  (i believe)
gdn 1.155
aim .30
cdu 8.20
wmt .09
i think that will be enough indicators for me


----------



## CanOz

Snakey said:
			
		

> sellers out weigh bidders
> profit takers race in
> price crashes below day high by more than 18%
> i dont normally get the top but i get maximum achievable profit  (i believe)
> gdn 1.155
> aim .30
> cdu 8.20
> wmt .09
> i think that will be enough indicators for me




Snakey, do you use the volume on an intraday chart to help you with those decisions?


----------



## Snakey

CanOz said:
			
		

> Snakey, do you use the volume on an intraday chart to help you with those decisions?




yes volume, price and also supply and demand in market depth.
what happens when price dives?? do bargain hunters rush in or run away
if they rush in, i hold, if they run away ill take who evers left


----------



## tech/a

Royce said:
			
		

> Up 32% and closed close to its high of 7 cents, but finish not strong enough for you ?
> 
> You must be very hard to please.
> 
> Royce





*Very much so.*



> sellers out weigh bidders
> profit takers race in
> price crashes below day high by more than 18%
> i dont normally get the top but i get maximum achievable profit (i believe)
> gdn 1.155
> aim .30
> cdu 8.20
> wmt .09
> i think that will be enough indicators for me




Interesting where do you calculate the 18% from IE high is 7c 18% off high is 5.7c Thats giving back over 1/2 the current 2 day breakout move?

This is a classic setup for a very quick selloff reversal after open tommorow.

I expect it will test the high very early then sell off dramatically.
Or sell off immediately causing an inside day.
Happens regularly with stocks that have risen over 30% in a day and (in this case or) risen over 50% in a couple of days.
Dont forget this is not being fundamentally driven only fuelled by emotion.

Goodluck all those still in.


----------



## CanOz

tech/a said:
			
		

> *Very much so.*
> 
> 
> 
> Interesting where do you calculate the 18% from IE high is 7c 18% off high is 5.7c Thats giving back over 1/2 the current 2 day breakout move?
> 
> This is a classic setup for a very quick selloff reversal after open tommorow.
> 
> I expect it will test the high very early then sell off dramatically.
> Or sell off immediately causing an inside day.
> Happens regularly with stocks that have risen over 30% in a day and (in this case or) risen over 50% in a couple of days.
> Dont forget this is not being fundamentally driven only fuelled by emotion.
> 
> Goodluck all those still in.




Tech, you were obviously watching very closely today...care to comment on the price action? It seemed to me that there were more buyers off screen (as is normally the case), but picking off slabs of stock at certain levels.....then marking down the stock as if to make sure they got all the sellers before moving onto another price. This really interests me, as it makes sense that someone buying for a client would want to or have instructions to accumulate at a certain range.

Any comments on this?


----------



## Snakey

tech/a said:
			
		

> *Very much so.*
> 
> 
> 
> Interesting where do you calculate the 18% from IE high is 7c 18% off high is 5.7c Thats giving back over 1/2 the current 2 day breakout move?
> 
> This is a classic setup for a very quick selloff reversal after open tommorow.
> 
> I expect it will test the high very early then sell off dramatically.
> Or sell off immediately causing an inside day.
> Happens regularly with stocks that have risen over 30% in a day and (in this case or) risen over 50% in a couple of days.
> Dont forget this is not being fundamentally driven only fuelled by emotion.
> 
> Goodluck all those still in.




you sold today at close 
if they go to 10 cents where they belong IMO you have missed nearly 40%
these shares take time
example cdu took over one month to "finish"
mls is no cdu, I know
gdn took nearly a week to reach 1.255

everybody trades their own way and you must do what works for you
i am a day trader and these stocks are my bread and butter
tomorrow may be poor but until the price falls too far, i stay


----------



## tech/a

*Snakey*



			
				Snakey said:
			
		

> you sold today at close
> if they go to 10 cents where they belong IMO you have missed nearly 40%
> these shares take time
> example cdu took over one month to "finish"
> mls is no cdu, I know
> gdn took nearly a week to reach 1.255
> 
> everybody trades their own way and you must do what works for you
> i am a day trader and these stocks are my bread and butter
> tomorrow may be poor but until the price falls too far, i stay




I sold for the second time at close today. I was trading only a small 200,000 parcel with a view of adding more at .71 if hit---never got hit never looked like it.
First parcel was substantially more.But thats all to do with my position sizing and risk management not part of this discussion.

*IF* A small word which has no place in trading.
We all trade differently, I have no problem with your idea for exit, just interested in how you calculate it. 

*CanOz*

I did notice sellers action more than the buyers as I sold my first parcel before the 2nd rush of buyers and then went out to some appointments..What I did see were parcels of 2-5 million being sold in one go. They seemed at market as they would take out a couple of levels often taking a few minutes to recover at one point a depth of 11 million went in one sale--recorded as many smaller parcels at the same time slot.
As you well know there are a myriad of buying stratagies this seemed buy X amount at X level and sell the lot at market if it hit Y level.
Seems a few had a second go,some still there.


----------



## nizar

tech,

I saw that as well.
Alot of off-screen sellers.
At one point around 1130ish, when we hit 6.8 the first time, there were buyers in the depth 11million at 6.7. 5million at 6.6 and 4million at 6.5. I refreshed and all gone. A big player dumped his truck and took out every1.

Towards the close, sellers were clearly winning.
The flurry was to get out, not in.

Tomorrow i suspect a gap up then a sell-off.
BUT what may happen is that it will bottom out around lunch time and then perhaps an arvo rally. If the close looks to be convincing ill be looking at getting back in this one. 

10c can still happen but probably not 2mrw.

Just my opinion.


----------



## SevenFX

Snakey said:
			
		

> risky trade now though
> i bought at average 5.4 @ 1.25m
> so you can see why i am so excited




Wow $67,500 on a spekky, that a lot of exposure there Snakey.

Do you have the same riding on other shares at the same time...???

Who's your Bank Manager and what does one have to do to get bank rolled to that tune...???  $
	

	
	
		
		

		
			





$
	

	
	
		
		

		
		
	


	




$
	

	
	
		
		

		
		
	


	




 per share.


----------



## Kauri

tech/a said:
			
		

> *Snakey*
> 
> 
> 
> I sold for the second time at close today. I was trading only a small 200,000 parcel with a view of adding more at .71 if hit---never got hit never looked like it.
> First parcel was substantially more.But thats all to do with my position sizing and risk management not part of this discussion.






			
				Snakey said:
			
		

> _risky trade now though
> i bought at average 5.4 @ 1.25m
> so you can see why i am so excited  _




    I'll see yours and raise you one..


----------



## tech/a

Nah I fold.


----------



## toc_bat

well i certainly HOPE mls does well today, or at least opens well, as Etrade is DOWN AGAIN, its only 7am but they have a habbit of not being online till at least 10,30am when they are down,

maaan they have been down way too often in the past 3 months i have been using them, 

as the opening looms could some nice people post on how it is looking at starting off?


----------



## dutchie

g'day Toc-bat

8.08am EDST  VOL 39m - 26m --- IAP 0.066

Cheers


----------



## toc_bat

dutchie, due to my newbie state i find your post a bit cryptic. 

btw etrade is online now, phew, 

but i am still interested to learn the lingo, can you elaborate,

hang on let me try to work it out,

39m is market dpth total buy volume, like wise for 26m for the sell and IAP is the price it ought to open at? right rong?

Etrade just shows me the market depth, so i see the order at 7c but it doesnt tell me the open price according to the asx ´s formula. asx doesnt list it on their site either. anywhere on the net i could see this u reckon?

thanks


----------



## clowboy

Toc bat,

Etrade should show you EOP but given that it is the same as yesterday's close it should be the same with no change


----------



## clowboy

Well I stand corrected, just checked my etrade account and no indication of EOP.  LAME


----------



## Raging Bull

EPO is 0.067 according to Prospecta..


----------



## SevenFX

toc_bat said:
			
		

> Etrade just shows me the market depth, so i see the order at 7c but it doesnt tell me the open price according to the asx ´s formula. asx doesnt list it on their site either. anywhere on the net i could see this u reckon?
> thanks




TB,

Are you using their "power eTrade" package or just their website and refreshing the price...????


----------



## dutchie

9:45 AM  VOL  41M -  27M    IAP 0.067


----------



## dutchie

TOC-BAT

Correct


----------



## toc_bat

not power etrade, just standard etrade, i should i know, this week alone ive made enough trades, to pay for the 70$ a month odd they want for it,

so what are your thoughts guys will this be sold off today? my inexperienced gut says it will take a quick dive then bounce back to around similar levels,

off for a quick ciggie to clam the nerves, uuaaaahhhaaaa

ps would aprecite if someone posts IAP or EOP just a few minutes prior to open,

cyas


----------



## Snakey

Kauri said:
			
		

> I'll see yours and raise you one..




then ill flip you for it


----------



## dutchie

toc-bat

Comsec (Protrader) is good for depth, iap (=eop), etc.
Do one options trade a month and its free.

MLS still iap of 0.067 (looks like it will hover there to start with) (0.065 to 0.067) - just my guess at present.


----------



## CanOz

toc_bat said:
			
		

> not power etrade, just standard etrade, i should i know, this week alone ive made enough trades, to pay for the 70$ a month odd they want for it,
> 
> so what are your thoughts guys will this be sold off today? my inexperienced gut says it will take a quick dive then bounce back to around similar levels,
> 
> off for a quick ciggie to clam the nerves, uuaaaahhhaaaa
> 
> ps would aprecite if someone posts IAP or EOP just a few minutes prior to open,
> 
> cyas




With 6 minutes to open:


----------



## Snakey

SevenFX said:
			
		

> Wow $67,500 on a spekky, that a lot of exposure there Snakey.
> 
> Do you have the same riding on other shares at the same time...???
> 
> Who's your Bank Manager and what does one have to do to get bank rolled to that tune...???  $
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> $
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> $
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> per share.




i only normally have 40k on one at one time but i was sure about this one
profits go straight to bank
draw on profits for losses
biggest loss caz 30k held share for 4 days 
biggest gain gdn 55k


----------



## dutchie

9.59 no chaNGE - more sellers at .067 than buyers


----------



## Snakey

using my money for these trades not banks


----------



## dutchie

toc-dat 

you still want updates?

Looking good at the moment up .006 to 0.072. 

should bring a smile to your face.


----------



## SevenFX

I think he's got it workin again...Dutchie


----------



## nizar

Back in this one at 7.0.
Saw it hit 7.1, bounce off 6.9 and back up again.

COuld see some weakness on low volume over lunchtime bring it back to the opening price. 

But then i would expect a strong rally and close. Bullish for 2mrw.

Overall trend still up.


----------



## SevenFX

nizar said:
			
		

> Back in this one at 7.0.
> Saw it hit 7.1, bounce off 6.9 and back up again.
> 
> COuld see some weakness on low volume over lunchtime bring it back to the opening price.
> 
> But then i would expect a strong rally and close. Bullish for 2mrw.
> 
> Overall trend still up.




So will you hold below your 7c buy in price, and if drop below that, at what price will you exit...????


----------



## Snakey

nizar said:
			
		

> Back in this one at 7.0.
> Saw it hit 7.1, bounce off 6.9 and back up again.
> 
> COuld see some weakness on low volume over lunchtime bring it back to the opening price.
> 
> But then i would expect a strong rally and close. Bullish for 2mrw.
> 
> Overall trend still up.



welcome back nizar


----------



## toc_bat

yeh got it workin and my newbie gut saw it go to 7,3 then back to 7 so i sold at 7,1 not its at 7,3, but i made sumtin

edit : more time now, actually i placed an at market order at 7,3 bloody etrade kindly rejects it, no at markets accepted on stock with sp below 50c so in the rush to refresh and reoredr i sold at 7,1

are other trading platforms so restrictive too, no at market below 50c cmooon


----------



## SevenFX

I think if Tech/A were here (are you Tech) he would post a chart with critical range being between 7.1c & 7.3c, outside that be action required...???? (I think)


----------



## Snakey

SevenFX said:
			
		

> I think if Tech/A were here (are you Tech) he would post a chart with critical range being between 7.1c & 7.3c, outside that be action required...???? (I think)




tech/a sold and bagged this share i would be hiding too


----------



## nizar

SevenFX said:
			
		

> So will you hold below your 7c buy in price, and if drop below that, at what price will you exit...????




Stop at 6.6c
If this is hit, the price may collapse. It would be a new low for the day. Not negative (equal with yesterdays close), but for me its enough to signal exit.

Strong buying at 7.1-7.3.

Just my opinion of course.


----------



## SevenFX

Snakey said:
			
		

> tech/a sold and bagged this share i would be hiding too




No Snakey, you got him wrong,

He is one of the most switched on traders here (that I've had experienced, so far, which I'm sure there's many others here), that is also very active in helping US.

SOME people on other threads are emotional in their trades (not good), and don't like what his calls, but I personally think his calls are SPOT ON and would even share my profits 
	

	
	
		
		

		
		
	


	




 to learn what he could teach.... (invest back into yourself, rather than into another trade).

I don't know the guy, but I really like his psychology and if you take all the emotion out of these trades, you will get his mindset...

EDIT: I've never seen him.


----------



## Snakey

SevenFX said:
			
		

> No Snakey, you got him wrong,
> 
> He is one of the most switched on traders here (that I've had experienced, so far, which I'm sure there's many others here), that is also very active in helping US.
> 
> SOME people on other threads are emotional in their trades (not good), and don't like what his calls, but I personally think his calls are SPOT ON and would even share my profits
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> to learn what he could teach.... (invest back into yourself, rather than into another trade).
> 
> I don't know the guy, but I really like his psychology and if you take all the emotion out of these trades, you will get his mindset...
> 
> EDIT: I've never seen him.




yes i value his input highly
just having a joke


----------



## Bullion

Looks a bit weak now... early lunch time?


----------



## SevenFX

nizar said:
			
		

> Stop at 6.6c.




I'm supprrised you would loose on this SLOW trade today, when there's profits to be locked in...

I like the saying "NEVER turn a *PROFIT* Into *LOSS*"


----------



## SevenFX

Bullion said:
			
		

> Looks a bit weak now... early lunch time?




Looks a lot weak, for this moment in Time, and yes early Lunch


----------



## nizar

SevenFX said:
			
		

> I'm supprrised you would loose on this SLOW trade today, when there's profits to be locked in...
> 
> I like the saying "NEVER turn a *PROFIT* Into *LOSS*"




Gotta give the stock a bit of room to move if you want those multiple R-winners, over the next few days.

Also, think about the reason for placing a stop.
It should be placed somewhere, where, if hit, tells you a change a trend, and thus the reason you bought the stock is no longer there.
I wouldnt want to be stopped out, when the trend is still up, and the stock can still appreciate.


----------



## SevenFX

nizar said:
			
		

> Gotta give the stock a bit of room to move




I agree that stock has to move with profit you make, BUT, when it moves below you buy and it's moving further into your losses...it's can't feel good...



			
				nizar said:
			
		

> if hit, tells you a change a trend, and thus the reason you bought the stock is no longer there.
> 
> I wouldnt want to be stopped out, when the trend is still up, .




I assuming your trading on a intraday trade, as you've bought and sold a number of times, so yesterdays, and the day b4 trend is not applicable, to the intradays trend, which is difinetely trending down.


----------



## tech/a

Sorry busy this morning on the other 3 I'm trading.
PEN
BLR now sold
AEX
LEG

MLS is doing as expected. Up early then Crappo.

Hi and thanks to the Fan club!!

The risk was to great for me to hold over night and in hindsite would have been slightly profitable.
Snakey at $1,250 a tick grab what you can. Anyway you have your style I mine.
Still interested in this 18% pullback---strange number?

Is that off the days range? so if range at anyone time is say 10 ticks thats a 2 tick pullback?

*Just cant get my head around how you implement it?*

Always interested in new ideas---thats how you improve---if you find one worth adopting.

Here is a 1 min chart


----------



## nizar

SevenFX said:
			
		

> I agree that stock has to move with profit you make, BUT, when it moves below you buy and it's moving further into your losses...it's can't feel good...
> 
> 
> 
> I assuming your trading on a intraday trade, as you've bought and sold a number of times, so yesterdays, and the day b4 trend is not applicable, to the intradays trend, which is difinetely trending down.




SevenFX, you are more pro than me.
Im just a beginner.
ANd No - i dont only trade intraday, i also trade longer timeframes.
With this mornings trade, i was happy for it to close at 7.0 (my buy price), that would still be bullish if you take a longer (ie. daily) view.

I recognise that some moves, especially if you want those multiple R-winners, more than 1 day may be (and often is) required.

When i first bought MLS on Wednesday last week (i still have contract notes) it was 4.1, immediately it went to 3.8. I was happy with that loss because overall i knew if it broke 4.1 it would be significant.

Im happy to hold for a few days.

My trading is still a working progress.

Good luck and thanks for the advice.


----------



## nizar

Tech yes PEN is a beauty i got some yesterday.
Check out FML - thats also a winner.

Alot of breakouts these last few days.


----------



## Snakey

days high and today .074
18 was a number i pulled out of my head
if this stock traded below .063 i think that would be enough to trigger my sell button .still with tidy profit. but its like tekman says you need to give this stock room to move. i hold on intraday because it is very hard to predict intraday movement. for it is easier to predict daily movement and general market attitude to a stock through supply and demand.


----------



## Snakey

12 to 18% down from day high denotes complete lack of confidence in the current stock price and then i would sell on the first recovering bounce back.


----------



## tech/a

Snakey said:
			
		

> days high and today .074
> 18 was a number i pulled out of my head
> if this stock traded below .063 i think that would be enough to trigger my sell button .still with tidy profit. but its like tekman says you need to give this stock room to move. i hold on intraday because it is very hard to predict intraday movement. for it is easier to predict daily movement and general market attitude to a stock through supply and demand.




Dont disagree with that!!

Most short term traders I come across are *to trigger happy on the sell button*.
If I geta runner then I'll do as you do give it room.
However I will dive in and out prospects if the DONT run reasonably well on the day of entry or if consolidation stops progress for to long.

Dont mind your one stock strategy,and beating the bank.

All success to those who trade.


----------



## SevenFX

nizar said:
			
		

> SevenFX, you are more pro than me. Im just a beginner.
> 
> My trading is still a working progress.
> 
> Good luck and thanks for the advice.




Me being more pro that you.. *NOT*, I'm sure you've been around for a few years now, and have posted a lot of interesting threads...you even got the lunchtime  lows right...

I've only been trading since mar06, and feel like I've just started as there so, so much do learn... and lovin it.

I ask the q's of you, to learn how others think, while in their trades, guess as we all do... which hopefully helps me....if I can learn more.


----------



## Snakey

tech/a said:
			
		

> Dont disagree with that!!
> 
> Most short term traders I come across are *to trigger happy on the sell button*.
> If I geta runner then I'll do as you do give it room.
> However I will dive in and out prospects if the DONT run reasonably well on the day of entry or if consolidation stops progress for to long.
> 
> Dont mind your one stock strategy,and beating the bank.
> 
> All success to those who trade.




very hard to keep track of muiltple stocks in one day
tried that ...got confused and lost money


----------



## tech/a

3 at a time max.

Have live here and only trade when things are bullish like now.
Fortunate enough to run the company with great staff who are looked after.
Started long term investing and still run 3 long term portfolios.
However the returns trading shorter term SERIOUSLY I in the end could not ignore so here I am.

Anyway enough of that on with work!!


----------



## toc_bat

im sure i remeber yesterdays vol to be around 300million, but etrades interactive chart is telling me 30million, can anyone confirm either number?

just checked asx charts, yep 300mill, bloody etrade!


----------



## nizar

I think at 2:30-3:00pm, this will begin to take a direction, ie. either up or down.

I dont think it will close at these levels. Either will close at 7.0c+ or below 6.6c (sell-off). The final hour almost always makes a difference.

Quite a bit of sellers (obviously) at 7.1-7.4 those that bought this morning and want their money back.

We will need quite a bit of volume to overcome that.


----------



## SevenFX

This is lookin very shakky to me, and would have to exit if I were still in.


----------



## Snakey

out at .066
too many sellers


----------



## nizar

Snakey said:
			
		

> out at .066
> too many sellers




Same.


----------



## tech/a

Snakey said:
			
		

> out at .066
> to many sellers




Wise.---Went pretty well as planned technically.---See i didnt run away just didnt get emotional!!


----------



## SevenFX

Snakey said:
			
		

> out at .066
> to many sellers




I'm suprised Snakey, as thought your average buy was much lower, hence only losing little potential profit, not capital.

This will still run IMO, just not every day...

EDIT: 


			
				tech/a said:
			
		

> See i didnt run away just didnt get emotional!!




The Tech man is watchin over you, and your posts... Snakey 
	

	
	
		
		

		
			











EDIT:
This is where MLS sellers are playing "Follow the Leader or Snakes N Ladders" and following the buyers back to the start...


----------



## Snakey

SevenFX said:
			
		

> I'm suprised Snakey, as thought your average buy was much lower, hence only losing little potential profit, not capital.
> 
> This will still run IMO, just not every day...
> 
> 
> 
> The Tech man is watchin over you, and your posts... Snakey



158 bidders verses 217 sellers
hold large parcels that can be hard to unload without buyers
locked in profits


----------



## SevenFX

Snakey said:
			
		

> 158 bidders verses 217 sellers
> hold large parcel that can be hard to unload with out buyers
> locked in profits




True,

Interesting what you use to get total buyers sellers no's..

What are you using, market cast I know gives totals.

Mind you while easy to glance at depth, can be very misleading and/or manipulated...


----------



## Snakey

SevenFX said:
			
		

> True,
> 
> Interesting what you use to get total buyers sellers no's..
> 
> What are you using, market cast I know gives totals.
> 
> Mind you while easy to glance at depth, can be very misleading and/or manipulated...




I use the very annoying Weblink.


----------



## SevenFX

Snakey said:
			
		

> I use the very annoying Weblink.




Which plan are you on, and why do/dont you like them.


----------



## Snakey

SevenFX said:
			
		

> Which plan are you on, and why do/dont you like them.



i am on the most expensive one
cant work with crap tools
weblink has had alot of technical problems of late


----------



## SevenFX

Snakey said:
			
		

> i am on the most expensive one
> cant work with crap tools
> weblink has had alot of technical problems of late




WOW they've gotta be kidding us, 148.50 p/m they're not metastock or marketcast...to be charging those sorta prices....

Seems like most brokers (etrade, commsec, westpac, and now you mention weblink) have had some serious problems of late, but I reckon better beeing on the cheaper broker plans and have problems, than the expensive ones and have problems...
	

	
	
		
		

		
		
	


	




  (as long as your happy that counts 2)


----------



## Snakey

SevenFX said:
			
		

> The Tech man is watchin over you, and your posts... Snakey




the tech man was right 
he is the master
i, like you, started trading in march this year
the veterans like tech/a are very valuable to this site

yes this may run again tommorrow
my rules prevent me from double dipping
so i wont get sucked into buying when this takes off again (extremely risky)
now i will wait three to five days for some rebound cash. if this falls tommorrow its finished
imo its finished now


----------



## Snakey

SevenFX said:
			
		

> WOW they've gotta be kidding us, 148.50 p/m they're not metastock or marketcast...to be charging those sorta prices....
> 
> Seems like most brokers (etrade, commsec, westpac, and now you mention weblink) have had some serious problems of late, but I reckon better beeing on the cheaper broker plans and have problems, than the expensive ones and have problems...
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> (as long as your happy that counts 2)





yes looking at a change
any you can recommend?


----------



## Joe Blow

Snakey said:
			
		

> yes looking at a change
> any you can recommend?




Guys can we please confine this thread to discussion of MLS?

Please start another thread for this discussion or take it to PM's.

Thanks!


----------



## arcla1

Hi all.

Any opinions on today's activity for MLS?


----------



## nizar

arcla1 said:
			
		

> Hi all.
> 
> Any opinions on today's activity for MLS?




We will need big volume if we are going to get past 7.1-7.4c.
Like maybe 50-100million.

Otherwise a low volume day not a bad thing and to close around current levels. At or above the open would be nice.


----------



## arcla1

So it might still have life left in it today/tomorrow?


----------



## nizar

arcla1 said:
			
		

> So it might still have life left in it today/tomorrow?




No idea.
Your guess is as good as mine.


----------



## tech/a

Looks like a good case of Snaffoood.


----------



## moses

Hey Tech,

you seem negative; why is 61c today not a buying opportunity before continued growth through 70c plus?

ta


----------



## krisbarry

Annoucement on the 27th  of Nov. mentioned MLS is to start a drilling program as of Dec/Jan.

Going by the constant resource upgrades and massive share price rise over the past 2 months, I reckon there is more to come.

Zinc...need I say anymore!


----------



## tech/a

moses said:
			
		

> Hey Tech,
> 
> you seem negative; why is 61c today not a buying opportunity before continued growth through 70c plus?
> 
> ta





Guess you now know why. See post #226


----------



## Dave31

Hi All,

interesting to see a big purchase early up on MLS @ 0.062, Jumped the queue.
educated buy or foolish guess...


----------



## MiningGuru

Breakout on MLS this morning. It has pushed through to .065, up .08 today


----------



## MiningGuru

Heavy volume today as well, 30 mill so far


----------



## Snakey

bought some rebound mls yesterday .058
sold already as my confidence it low in further gains after today


----------



## MiningGuru

I think that if it can hold around .064, .065 today it will push on further into the .07s and .08s in the next few days.


----------



## Dave31

So far has been a good surprise.
There was an initial 1,500,000 purchase straight up at 0.062c
Volume has greatly increased today, but still has a long way to go to match last week.
Havent seen any ann to make this current rush. Is this running on rumour/speculation? the fundamentals are there!


----------



## Dave31

MiningGuru said:
			
		

> I think that if it can hold around .064, .065 today it will push on further into the .07s and .08s in the next few days.




held .064/.065 today for a finish of 0.065, would be nice of the last part of your statement comes true


----------



## MiningGuru

Held up to close at .65

On reasonable volume this is a good sign. It indicates that in the next few days that the share will push past it's previous recent high  into to the .07s and .08s

Very Bullish!


----------



## MiningGuru

Very strong this morning.

Now up to 6.7c

Very good sign for a push through into the 7s and 8s very soon.

Will be 10c before long!


----------



## sleeper88

mls on the move again?!?


----------



## MiningGuru

Massive buying!

Now moved on to 7c

7c sellers disappearing fast.

This is about to really break out!

I predict that it will push on to 10- 12c + very soon


----------



## nizar

MiningGuru said:
			
		

> Massive buying!
> 
> Now moved on to 7c
> 
> 7c sellers disappearing fast.
> 
> This is about to really break out!
> 
> I predict that it will push on to 10- 12c + very soon




Needs to break 7.4c (previous high) for me to consider.


----------



## Dave31

Surprised me this morning. 
sold a small package this morning to take a quick profit
in @ 5.7c
out @ 6.8c

Will buy in again if it drops to 6.4c, however bring on the breakout!


----------



## CanOz

POZ staying strong, this may settle into a nice little uptrend, i'm back in again and i think i'll hold for a while this time.

Cheers,


----------



## MiningGuru

Now attempting to break through the 7c resistance level.


----------



## Raging Bull

MiningGuru said:
			
		

> Now attempting to break through the 7c resistance level.




How do you get that? It's been sitting on .067 to .068 since 11.10 am with relatively low volume..

[edit] outch.. my pro-trader got stuck offline... now I am uptodate....


----------



## MiningGuru

Rumours on another message board of an announcement concerning U coming very soon.


----------



## CanOz

MiningGuru said:
			
		

> Rumours on another message board of an announcement concerning U coming very soon.




Really? Great, Zinc and Uranium, perfect timing!


----------



## sleeper88

maybe they're going to comence field work on their Namibian Uranium prospects (pure guess)


----------



## MiningGuru

Very strong buying this morning.

Now up to 7.2c On vol of 10 mil

Great demand for this. Will soon push through the all time high of 7.4c

Then it will be bluesky!


----------



## nizar

MiningGuru said:
			
		

> Very strong buying this morning.
> 
> Now up to 7.2c On vol of 10 mil
> 
> Great demand for this. Will soon push through the all time high of 7.4c
> 
> Then it will be bluesky!





Yeah im liking this one again, looking strong this morning.
I just took a position at 0.072.


----------



## MiningGuru

Now hit the all time of 7.4c

Will now attempt to breakout into Bluesky territory!

I predict it quickly shoot up to 8c + when it breaks out


----------



## Dave31

MiningGuru said:
			
		

> Now hit the all time of 7.4c
> 
> Will now attempt to breakout into Bluesky territory!
> 
> I predict it quickly shoot up to 8c + when it breaks out




Lets hope so... But if it shoots quickly it may retrace again for another consolidation around 7c before it makes the run to 10c ?

could be a merry christmas on this one


----------



## Bullion

Mining guru... do you have a crystal ball or something?


----------



## sleeper88

Bullion said:
			
		

> Mining guru... do you have a crystal ball or something?




i think its only a matter of time before it breaks 7.4 and moves to 8+ Fundamentally, MLS looks good, im holding for the long term, so far christmas has come early


----------



## tech/a

Like this.
Bought at .072
Below is a few charts the last showing a build up in volume today.


----------



## vert

thanks tech/a needed a bit confidence boost as i bought 0.073, after "lunch" should see some action again and a test of 0.074


----------



## krisbarry

Might be better to hold at these levels instead of trading,  appears that a few traders are getting in at high levels and are now sitting on losses, or have had to sell at a loss.

Trading can be very risky considering the breakout level was touched today but was not breached.


----------



## MiningGuru

Has again closed at a 5 year high.

May not have breached recent inter-day trading highs, but for the last couple of days has finished at closing highs.

Surely a good sign for next week?


----------



## krisbarry

Metals Australia (MLS) 

*Potential for significant zinc resource extensions 
Speculative Buy * 

$0.07 

MLS is focused on its Manindi zinc project that is located in the East Murchison District of WA, 20 kilometres south east of Youanmi. The project was previously known as Freddie Well and was initially discovered and explored by CRA Exploration in the late 1970s and early 1980s. The project comprises a series of volcanogenic massive sulphide zinc deposits. The geological environment shows similarities to those of other base metal sulphide deposits in the Yilgarn Craton such as the Golden Grove deposits located to the south west of Manindi, at Yalgoo, and the Teutonic Bore and Jaguar deposits in the Eastern Goldfields. 

The current global resource is 1.05 million tonnes averaging 7.64% zinc and containing 80,200 tonnes of zinc. There is strong potential for significant additions to the resource tonnage through further drilling and MLS aims to commence a diamond drilling program in January 2007. This follows on from a program of 17 reverse circulation drill holes and downhole electromagnetics that was conducted in June and September 2005. Results from this program included 18 metres averaging 14.96% zinc from 43 metres downhole. These results have not been included in the current resource estimate. The program was also successful in delineating conductors surrounding and adjacent to the existing resources as well as a significant target lying in an offset position to the main lode. 

The current resource is contained within a three kilometre strike length and within four prospects. These are the Kultarr prospect which has been tested to a depth of 200 metres and the Kowari, Mulgara and Warabi prospects that have only been tested to a vertical depth of 100 metres. In comparison to drilling at Golden grove and Jaguar, the drill testing of the Manindi deposits is very shallow and at an early stage of resource definition. 

A soil sampling program at 100 by 25 metre spacing, with infill sampling at 50 by 25 metre spacing has extended the geochemical signatures of the Mulgara and Warabi resource areas, and defined new target areas to the south at Bandicoot and east at Quoll. 

MLS is currently reviewing processing options which include crushing and grinding followed by the flotation of a concentrate, crushing followed by heap leaching and electrowinning to produce zinc metal or the sale of ore to a third party for processing. 

Previous work by BioHeap Ltd has shown that zinc recoveries of 97.1% can be achieved through the heap leaching of ore using bacterial technology. The results of further testwork carried out by AMMTEC, including ion exchange testwork, were sent to both Outokumpu and Ecotec for conceptual design and costing for ion exchange systems. Data from these companies is currently being evaluated by AMMTEC, who have also forwarded data to manufacturers of commercial electrowinning plants for conceptual design and costing for an onsite electrowinning plant. 

Alternatively a conventional flotation circuit producing a zinc concentrate is also under consideration. This may prove to be the chosen option as it is likely to have a shorter lead time into production.

source: 

http://www.intersuisse.com.au/notes/mnfriday.html


----------



## CanOz

Thanks STC!

Cheers,


----------



## krisbarry

Seems as though this one is hitting the radars of a few financial advisors. First Intersuisse, now the latest recommendation comming from Cube Financial Group. .......Its official, the big boys are in town. 

Source: Cube financials Group
http://www.cubefinancial.com.au/admin/document_view.cfm?RecommendID=1073


----------



## hypnotic

Stop_the_clock said:
			
		

> Seems as though this one is hitting the radars of a few financial advisors. First Intersuisse, now the latest recommendation comming from Cube Financial Group. .......Its official, the big boys are in town.
> 
> Source: Cube financials Group
> http://www.cubefinancial.com.au/admin/document_view.cfm?RecommendID=1073




Thanks for the information will definitely be looking at it closely   

Hypnotic


----------



## Sean K

Cube are saying one trading tactic would be to buy on close above $0.07, which would confirm a break up from the pennant. My target from then would be $0.10. Looks like it's going to push though to me. Might have to get on it again.


----------



## Sean K

Looks like there'll be lots of early volume. Interesting.


----------



## Sean K

kennas said:
			
		

> My target from then would be $0.10. Looks like it's going to push though to me. Might have to get on it again.



Perhaps $0.10 will be reached before 10.10am


----------



## MiningGuru

Has broken past 7.4c and now selling at 7.7c

Strong volume.

Will push through to 10c soon!


----------



## Absolutely

I am not expecting it to go up any higher now. It has reached it's peak.

Reason is - I just bought some !!!!!!!!!!!


----------



## MiningGuru

Has now broken through to 8c!

Where will it finish today?? I think it will push strongly into the 8s


----------



## tech/a

Yes bought a second lot this morning selling out of EVE to do so.


----------



## arcla1

tech/a said:
			
		

> Yes bought a second lot this morning selling out of EVE to do so.




Yeah I just sold my EVE. Now have an order at 7.8c for MLS. 

Bring it on!


----------



## krisbarry

wouldn't it be easier to just hold...appears the traders keep paying and higher prices week after week.  Its in a upward trend and speculation will continue for at least another couple of months.

Just buy and hold I say, too risky to trade and miss the boat


----------



## Raging Bull

Absolutely said:
			
		

> I am not expecting it to go up any higher now. It has reached it's peak.
> 
> Reason is - I just bought some !!!!!!!!!!!




LOL.. I know what you mean. Happened to me a couple of times the last weeks... but not this time, got in nice and early at .069..


----------



## ezyTrader

Raging Bull said:
			
		

> LOL.. I know what you mean. Happened to me a couple of times the last weeks... but not this time, got in nice and early at .069..




hehe, beat you to it RB - 0.068.


----------



## sleeper88

ezyTrader said:
			
		

> hehe, beat you to it RB - 0.068.




beat ya both.. 0.027 

cheers..happy trading


----------



## Raging Bull

ezyTrader said:
			
		

> hehe, beat you to it RB - 0.068.






			
				sleeper88 said:
			
		

> beat ya both.. 0.027
> 
> cheers..happy trading




Damn!!.. it's.. it's the exit that matters


----------



## MiningGuru

Looking at a strong finish. It has moved to 8.3c, the highest trades of the day in the last few minutes!!!


----------



## MiningGuru

Finished on the high of the day of 8.4c

A very bullish sign!

Indications are that this share will again surge forward strongly tomorrow.

Will push through to 12c+ very soon IMO


----------



## CanOz

MiningGuru said:
			
		

> Finished on the high of the day of 8.4c
> 
> A very bullish sign!
> 
> Indications are that this share will again surge forward strongly tomorrow.
> 
> Will push through to 12c+ very soon IMO




what is the significance of .12? You just pull this outta the air or is it based on some estimate of resource???


----------



## MiningGuru

CanOz said:
			
		

> what is the significance of .12? You just pull this outta the air or is it based on some estimate of resource???




In my opinion, after assesing the charts and the strong volume for this share, and the fundamnetal value of the resource, and that I believe there will be a siginificant upgrade in the zinc resource, I think it push on to at least 12c fairly soon.

I think that the share should really be values in the low 20s


----------



## Sean K

MiningGuru said:
			
		

> In my opinion, after assesing the charts and the strong volume for this share, and the fundamnetal value of the resource, and that I believe there will be a siginificant upgrade in the zinc resource, I think it push on to at least 12c fairly soon.
> 
> I think that the share should really be values in the low 20s



Sounds like a very scientifically developed pluck to me Guru. Hope it hits those numbers for you!


----------



## tech/a

Well my measured move analysis puts it at a potential high of 11c.
Using 2 start points. Havent got time to run through the how's.
Moving son out of home. (His mothers not mine!)

When?? Have no idea.


----------



## hypnotic

Arghhhh,

didn't get a chance to get on the computer today, should have set a buy order last night..  

20% up on no announcement.. What's happening?? 

Hypnotic


----------



## krisbarry

tech/a said:
			
		

> Well my measured move analysis puts it at a potential high of 11c.
> Using 2 start points. Havent got time to run through the how's.
> Moving son out of home. (His mothers not mine!)
> 
> When?? Have no idea.




Ahhh so you are normal after all...I thought you came from the perfect family.  Husband and wife living under the same roof...and a couple of smart kids going through uni, a dog, cat and a white picket fence etc.

Now we find out the son is moving out and yourself and your wife are living under different roofs...

There is a little dysfuntion in every household...something I can now relate to.

All the best with the moving and I like MLS very much indeed


----------



## CanOz

hypnotic said:
			
		

> Arghhhh,
> 
> didn't get a chance to get on the computer today, should have set a buy order last night..
> 
> 20% up on no announcement.. What's happening??
> 
> Hypnotic




I think its just getting a bit of press now, and a spec buy rating.

Cheers,


----------



## Sean K

9.17 this am


			
				kennas said:
			
		

> Cube are saying one trading tactic would be to buy on close above $0.07, which would confirm a break up from the pennant. My target from then would be $0.10. Looks like it's going to push though to me. Might have to get on it again.







			
				tech/a said:
			
		

> Well my measured move analysis puts it at a potential high of 11c.
> 
> Using 2 start points. Havent got time to run through the how's.
> Moving son out of home. (His mothers not mine!)
> 
> When?? Have no idea.



Measured Move Analysis? Interesting.

My little pole with a flag theory gets about 10 as the target. I don't think you can do time, unless you're a Gann believer.


----------



## clowboy

Blah,

Put in a buy order for 7.3cps at 7.30 this morning, opened at 7.4 closed at 8.4, blah


----------



## ezyTrader

> My little pole with a flag theory gets about 10 as the target. I don't think you can do time, unless you're a Gann believer.




How do you draw your flag, kennas?


----------



## nizar

MLS looking very nice today.
I wasnt at the home today, was at work, but had a mate updating me throughout the day, keeping me upto date with the price movements.

This one, as with WMT and AUZ, will have some trouble at the 10c resistance.

Volume today while it was good, it wasnt substantial for this stock. I think 2mrw we may gap up slightly or even start square and a strong run to close the day just below 10 on massive volumes. Think 200m+. 

Then wednesday a gap up and early morning run maybe touch to 10.5 or 11c, then collapse to below 10c. BUT an announcement could change all that.

EXT once it broke 10 for the first time, not long after it was 15c+.

Could go either way of course, but for now it looks like going up.

Still early days with this one...


----------



## Dave31

Speeding ticket issued. Good company reply however!


----------



## Sean K

ezyTrader said:
			
		

> How do you draw your flag, kennas?



See post 292, ET.


----------



## Wilson!

What do we all think today team?
Looks like a strong open, got a feeling it will continue to run today, espafter the speeding ticket, strangely, as the response was brilliant

Thoughts?


----------



## Dave31

When I got into work there was a 400,000 bid @ .09
Just checked it now, almost 3mil bid @ 0.09, 470,000 bid @ 0.091

Looks like theres going to be alot of early volume.


----------



## Snakey

morning all
on board at a very late .084
medium parcel looks ok for today
better late than too late


----------



## Wilson!

Huge open coming...


----------



## Absolutely

tradeable today do you think ? Looks like early hype to me and a chance to get out early and in again later when it settles down........?

Or is it too risky.............?


----------



## nizar

Snakey said:
			
		

> morning all
> on board at a very late .084
> medium parcel looks ok for today
> better late than too late




Not sure whether to dump at the open or wait for an arvo run.
I think ill look to volume for the answer.
Looks to be opening at 9c.

Tech you reckon it will stop at 10c round number natural resistance. I might try your trick!


----------



## Wilson!

Looking pretty good here folks.
In 9c out 9.4c
Looking for a good re-entry now


----------



## Bullion

Should have held on for a bit longer to see how it panned out, but thought it was going to fall and then I could pick some up cheaper today. Oh well... in at 8.1 and out at 9.1


----------



## Wilson!

Don't worry, thats good bullion

What's next? 
I nearly entered again at 9.1

Will watch and wait.


----------



## Snakey

nizar said:
			
		

> Not sure whether to dump at the open or wait for an arvo run.
> I think ill look to volume for the answer.
> Looks to be opening at 9c.
> 
> Tech you reckon it will stop at 10c round number natural resistance. I might try your trick!




agreed 10c
currently alot of profit taking


----------



## Wilson!

snakey, looks like 9.1 was a step off back up again
what do you reckon

should have re entered at 9.1 when I had the chance.


----------



## Snakey

Wilson! said:
			
		

> snakey, looks like 9.1 was a step off back up again
> what do you reckon
> 
> should have re entered at 9.1 when I had the chance.



agreed people giving away shares at these prices
i hold


----------



## nizar

Snakey said:
			
		

> agreed people giving away shares at these prices
> i hold




Im still holding.

My prediction:
Strong open. Dull low volume mid day period, then arvo run to make new highs and to close a touch under 10c....  

But only because i can watch it and monitor it all day. If i was busy i wouldve been out at 9.2 or 9.3.


----------



## Snakey

buyers seem to think good value at .09


----------



## Snakey

nizar said:
			
		

> Im still holding.
> 
> My prediction:
> Strong open. Dull low volume mid day period, then arvo run to make new highs and to close a touch under 10c....
> 
> But only because i can watch it and monitor it all day. If i was busy i wouldve been out at 9.2 or 9.3.




agreed
possible lunch time low around .09
end of day .095 +
peaking tommorrow morning .010 - .011


----------



## clowboy

Hope you guys are right,

I bought in at 9.3cps (which may well turn out to be a mistake, frustraded that my order did not fill yesterday).

Im either the fool that bought at the top or the balzy guy who bought in just in time to make a few $$


----------



## imajica

cant believe I daytraded this one from 2.4c to 2.7c  had 5k in it - should have left it in - would be worth almost 20k now - dammit


----------



## nizar

Yep 2mrw will probably be the bext exit about 2mins after the open, agree wholly.

Thats when the masses start buying   

An astute buyer decided to clean up the 0.091 sellers. Hes a smart one, getting set before the arvo run...  

Now all the sheep are following lining up at 0.091.


----------



## Snakey

imajica said:
			
		

> cant believe I daytraded this one from 2.4c to 2.7c  had 5k in it - should have left it in - would be worth almost 20k now - dammit



bought 1.25 million shares @ .054

sold @ .066  
back in with much smaller parcel


----------



## toc_bat

nizar said:
			
		

> Yep 2mrw will probably be the bext exit about 2mins after the open, agree wholly.
> 
> Thats when the masses start buying




if thats when the masses start buying, why exit?


----------



## nizar

toc_bat said:
			
		

> if thats when the masses start buying, why exit?




Because the masses rarely get it right.


----------



## Snakey

toc_bat said:
			
		

> if thats when the masses start buying, why exit?



 good prices given for shares also stock flogged out tommorrow
 get up and run you stupid share:horse:


----------



## Bullion

Just fell over...


----------



## borat

has just dropped as far as .087, anyone topping up? has finger poised over .093 but net connection froze... damit... coulda sold at .092 but riding it out with a stop @ .085...


----------



## CanOz

I hope it fill that gap it created today, hold people, this should only get better.


----------



## nizar

Out at 0.088.
Didnt like it making a new low for the day.

R/R=4 a good trade for me.

Happy to watch for now.

Can, i was hoping the gap would NOT be filled today.


----------



## Snakey

what do ya recon nizar
looks quite thick down the seller side of the board


----------



## nizar

Snakey said:
			
		

> what do ya recon nizar
> looks quite thick down the seller side of the board




Yeh like i said im out at 0.088 as soon as a new low was made for the day.
Dont like it how it keeps making new lows.


----------



## Dave31

Coming down to yesterdays close. Might be time to top up.


----------



## toc_bat

nizar said:
			
		

> Because the masses rarely get it right.




but dont large gains in demand come with the masses? thus increasing sp?

so what do youse all reckon, still an arvo run up? ive been away for a few days and missed it all, missed jms bouncing too, ar..


----------



## nizar

Dave31 said:
			
		

> Might be time to top up




Why?


----------



## nizar

toc_bat said:
			
		

> but dont large gains in demand come with the masses? thus increasing sp?




No.

The masses meaning average people. Average people trade small size parcels. Professionals and instos trade much larger sizes. The latter 2 groups maybe make up 10-20% of the market, but in dollar terms control maybe 95%+.

The guy at coles doesnt stack up well to, say, Goldman Sachs trading desk, for example.

The big instos and professionals will shy away from the sell-side at the open, ensuring a gap up, then they dump their holding.

Just my opinion.


----------



## Dave31

nizar said:
			
		

> Why?




Why not. 

buy low, sell high
close the gap and use yesterdays close as support to bounce off.


----------



## Snakey

lunch time low .086 ??????
gap filled ?????

i hold for arvo now
63 sellers waiting at .099 - .11
im one of them


----------



## YOUNG_TRADER

Niz, 

Whatever happened to these guys Nambian Uranium Licence?
Did they get it, is it still pending or did they give it up,

If they ann that now this thing will go nuts


Nice pick guys


----------



## borat

excuse my ignorance but what is the 'ann' that you all refer too? Thanks. B.


----------



## nizar

Snakey said:
			
		

> lunch time low .086 ??????
> gap filled ?????
> 
> i hold for arvo now
> 63 sellers waiting at .099 - .11
> im one of them




Im back in at 0.089.
Arvo run is still on the cards. JMS also looking strong.

YT - im not too sure what happened with the namibian uranium license. But i know those things can take ages to be approved, remember EXT? Took 1 yr plus for those guys. But yeh any sort of news, either that or more zinc drilling assays, and no more under 10c for this one.

This one is my baby, and yes - it has outperformed JMS!!! So there!!!  :


----------



## Absolutely

Nizar,

You're out at .088 this morning and back in at .089 this afternoon. Is this sensible trading ?


----------



## nizar

Absolutely said:
			
		

> Nizar,
> 
> You're out at .088 this morning and back in at .089 this afternoon. Is this sensible trading ?





Nope.
But im happy to pay the cost of INSURANCE.


----------



## Absolutely

Well where are you going to exit this time Nizar ? It's weakening again I think.


----------



## Snakey

out @ .087
not happy with current proceedings


----------



## Snakey

Absolutely said:
			
		

> Well where are you going to exit this time Nizar ? It's weakening again I think.



when are you going to exit?... Mr Absolutely Perfect????


----------



## Absolutely

Hey I'm not perfect either. I've been looking for the late run up today too but I don't think it's going to happen.

Don't know if or when to exit.

Should have got out this morning and then bought back in about now as suggested in one of my earlier posts.


----------



## Dave31

Why not hold for the run up to 10c?

I've topped up at .087


----------



## KIWIKARLOS

This stock has been flogged for a while now perhaps it needs a break before the next round. I felt i missed the bus so i jumped onto PEN instead.


----------



## Snakey

Dave31 said:
			
		

> Why not hold for the run up to 10c?
> 
> I've topped up at .087




good luck with my shares dave
im sure they will come good in time


----------



## Dave31

Snakey said:
			
		

> good luck with my shares dave
> im sure they will come good in time




Lets hope so


----------



## trader

I'm out for now, not sure if this is going higher, back into EVE.


----------



## tech/a

Sold half my position.

Happy with this non movement of the stock at this point.
Taking care of Risk first.


----------



## nizar

This stock gapped up too much today i think. From 8.4 to 9 is a bit much.

I remember last time this stock really ran, it gapped up only 2 ticks, from 5.0 close previous day, until 5.2. It then ran to 6.5c all within the first half hour, then down to 6.2, then back up to hit 6.8 and hovered  for most of the day at 0.066-0.067. Then arvo run took it to new highs 7.0. Then it closed at 6.7c.


----------



## Wilson!

Interesting day for MLS
Was in meetings all day, made my .4c profit in the first 8 mins, then couldnt trade all day - lucky it seems, as I would have turned a loss

Hmmmm.
Let's see what tmrw brings...

I am really interested to see if JMS will run a bit again
Had an order to buy on open this morning, but pulled it. Would have taken a $1800 profit - oh well

Them's the breaks


----------



## tech/a

Remainder out at open.


----------



## Sean K

tech/a said:
			
		

> Remainder out at open.



Good work calling your trades Tech. I hope the punters out there are making their own calls....  As they should of course.


----------



## nizar

tech/a said:
			
		

> Remainder out at open.




Same i was stopped out.


----------



## tech/a

My postings are not to be taken as advice but perhaps as an insight as to the way I think in the hope that others may see something they can take away with them.

Some further musings from a 1 min chart on MLS


----------



## Snakey

in @ .085 ...large parcel


----------



## krisbarry

Snakey said:
			
		

> in @ .085 ...large parcel




Where is your T/A, charts and fundamentals...please read Joe's comments about your style of posts.

Its must come with reasoning!


----------



## toc_bat

busteeed !!


----------



## Snakey

Stop_the_clock said:
			
		

> Where is your T/A, charts and fundamentals...please read Joe's comments about your style of posts.
> 
> Its must come with reasoning!



very strong support for price above .080
i believe consolidation to be short lived  
90 day chart continues up hill trend
more patience needed for this stock
will wait for completion of minor retrace then top up for continuation up to 10c +
suspect retrace will complete with in 24 hours


----------



## tech/a

Definate trap equating support to market depth.

Here is a technical view.

*1 hr chart*


----------



## krisbarry

Snakey said:
			
		

> in @ .085 ...large parcel




If you had waited you can now pick up a large parcel @ 8.1, 8.2, 8.3, and 8.4


----------



## Snakey

Stop_the_clock said:
			
		

> If you had waitied you can now pick up a large parcel @ 8.1, 8.2, 8.3, and 8.4




unfortunately crystal ball broken...(fell on the floor and smashed)
and i am impatient
you can buy your parcel @ .094 when next high broken
do you have any T/A on this stock???????


----------



## CanOz

I gotta say, i've tightened up my stop a little bit on this, but theres no reason for me to assume yet, that it will reverse. Quite the contrary, i think it might be settling into a nice little uptrend. Its retraced from the last big candle in a typical manner and then closed off the low today, on low volume. Shows a lack of sellers to me.

Cheers,


----------



## tech/a

> Shows a lack of sellers to me.




Ahh the eye of the beholder,CanOz ever noticed how holders look and find positive slants on stock they hold and those who have missed it or dont hold find the negatives.

*Subjectivity*

Hopefully this is as it is,as of today tommorow will tell more.

This I believe is justification for Nizars statement.--Mind you Snakey will have plenty of opportunity to top up with some more at "Bargain" prices.
How many is a "Big Parcel" Snakey?? Have you unlimited funds?


----------



## darian

Tech, 
Sorry Im still new to this, can you please explain why the drop in volume is a lack of buyers and not selling decreasing? How do you tell the difference when a stock is declining and volume reducing?

Ta.


----------



## Boggo

Tech may give a better example darian, my way of explaining it is this -
If I wanted  to buy 100000 and you  wanted to sell 100000, you sell your 100000 but I decide to hold off and not buy yet, then the volume has decreased and the price has dropped.
Other buyers may now be reluctant to enter so its mainly the sellers that are majority of the volume.

My   worth

Boggo


----------



## CanOz

tech/a said:
			
		

> Ahh the eye of the beholder,CanOz ever noticed how holders look and find positive slants on stock they hold and those who have missed it or dont hold find the negatives.
> 
> *Subjectivity*
> 
> Hopefully this is as it is,as of today tommorow will tell more.
> 
> This I believe is justification for Nizars statement.--Mind you Snakey will have plenty of opportunity to top up with some more at "Bargain" prices.
> How many is a "Big Parcel" Snakey?? Have you unlimited funds?




Sorry Tech, i can't see our chart (as per normal) but i agree that there could also be a lack of demand too, based on the low volume. Can you narrate your chart for me if you have tiime, so i can get your take on it.

Cheers,


----------



## tech/a

*CanOz*

Empty your mail box!

Darian.
Price generally drops through lack of interested new buyers at the price offered.If the price was percieved as good value then buyers would snap it up.
Low volume and a drop in price indicates than sellers had to sell at a lower price to attract buyers.
This will continue until price is percieved as great value by buyers who will then be forced to pay a higher price by sellers who no doubt will hold on to their stock until they get a higher price this will continue whilst there is demand.
Lack of demand means the only way to increase it is to drop the price.

EG.

I have 10 merc's current retail is say 250K each.
How many will you have at 250K?
None--bugger I want to get rid of them.
How about 220K---Ah Snakey bought a couple.
Still I want to get rid of them.
200K---Ah Snakey bought another couple.
See snakey wants to get rid of the mercs at greater than his average price and I want to get rid of them at the best possible price because I bought them at $160K each---but he doesnt know that.
Get the idea .


----------



## darian

Thanks guys, what you've said makes perfect sense but what if tomorrow is a down day and the volume exceeds today's volume? Does this also mean that sellers cant wait to get rid of their stocks? 
How would you tell when buyers have re emerged when the price is falling? Increasing volume and price rising, hammers? inverted hammers? 
Thanks.


----------



## CanOz

darian said:
			
		

> How would you tell when buyers have re emerged when the price is falling? Increasing volume and price rising, hammers? inverted hammers?
> Thanks.




yes to all.


----------



## toc_bat

CanOz said:
			
		

> Sorry Tech, i can't see our chart (as per normal) but i agree that there could also be a lack of demand too, based on the low volume. Can you narrate your chart for me if you have tiime, so i can get your take on it.
> 
> Cheers,





CC - sorta off topic here, but not really, but i had similar rendering problems with other boards, hassled the admins for help, of course they cant as it is doubtless at my or your end, eventually decided it must be due to some idiosyncrasy particular to my system so downloaded another browser, mozilla firefox, that fixed it, was using IE6


----------



## tech/a

darian said:
			
		

> Thanks guys, what you've said makes perfect sense but what if tomorrow is a down day and the volume exceeds today's volume? Does this also mean that sellers cant wait to get rid of their stocks?
> How would you tell when buyers have re emerged when the price is falling? Increasing volume and price rising, hammers? inverted hammers?
> Thanks.




Yes volume sell offs are of course common on a turn from a high,particularly the small caps as the scalpers fall over themselves to get out at as higher price as possible.

As for reversals the problem is ---is a one day reversal sustainable.
Price will eventually reach a point where sellers dry up,now provided buyers havent left the arena (In which case there will be no support and the stock will turn into a downtrend) buying will resume.The next problem is that as price rises those who were wanting to get out but un willing to take a loss sit and wait for price to return. This is how corrective moves form.
Its common to see price head for the latest high and be sold down once again. Often falling past the low of the first corrective move. IE 3 OR 5 waves
in a correction.

Look for Long tails as exhaustive sell offs then buy backs.
Gaps down indicate blow off at the END of a corrective move.
Gaps up indicate new enthusiasm at the BEGINING of a move.
Look for 3 wave corrections being the most common.There are no waves evident in this move.


----------



## sydneysider

Held a very substantial position in oppies early in the year. After discussions with management got out (and missed 400% move). At $60 million valuation for one million tonnes of zinc ore might be a little steep. PDZ has two million tonnes of zinc ore on one kilometer strike on 10 kilometer mineralized zone with $16 million valuation. That is about one fourth the valuation for two times more of zinc ore IF the other nine kilometers is like the first then we might jump the moon. MLS only has about 4 kms of strike (admittedly some very high grades) and a "premium valuation" and about 700 million shares with very little held by insiders. 

PDZ has about 60% of shares and oppies with major holders and insiders. The Managing Director is the largest shareholder. MLS has almost no interest from the major insiders. Will be very interesting to see what happens when MLS  "rolls over".


----------



## Snakey

tech/a said:
			
		

> Ahh the eye of the beholder,CanOz ever noticed how holders look and find positive slants on stock they hold and those who have missed it or dont hold find the negatives.
> 
> *Subjectivity*
> 
> Hopefully this is as it is,as of today tommorow will tell more.
> 
> This I believe is justification for Nizars statement.--Mind you Snakey will have plenty of opportunity to top up with some more at "Bargain" prices.
> How many is a "Big Parcel" Snakey?? Have you unlimited funds?




hi tech/a
by the way those mercs i bought of you... i held them for two weeks and sold them for 300k each... so we both made a tidy profit  

yes tech i did make an early re-enty to mls...let me give you an update of my trading of this company and rough prices..
first bought @ avg 5.4/ 1.25 m sold @ 6.6
bought again 5.8 @ 500k sold 6.5
went off trading others for a while and came back late
bought again 8.4 sold at a sad 8.7 
bought again 8.35 average /1.5 m
hard to buy large parcels at rock bottom prices
why buy yesterday.....to stay one step ahead of everyone else
time will tell if i made the right decision 
i post my movements so other can see what i am doing
it is a very large parcel for me and my budget... it does not matter the number of shares.


----------



## tech/a

Snakey.

Good to see diversification in veiws.

Just because you and I trade differently doesnt make either right OR wrong.

Purely preference. You'll have a win while I may have a loss and vica versa.
At the end of the week/month/year its the total of the tape thats important.


----------



## nizar

Snakey said:
			
		

> hi tech/a
> by the way those mercs i bought of you... i held them for two weeks and sold them for 300k each... so we both made a tidy profit
> 
> yes tech i did make an early re-enty to mls...let me give you an update of my trading of this company and rough prices..
> first bought @ avg 5.4/ 1.25 m sold @ 6.6
> bought again 5.8 @ 500k sold 6.5
> went off trading others for a while and came back late
> bought again 8.4 sold at a sad 8.7
> bought again 8.35 average /1.5 m
> hard to buy large parcels at rock bottom prices
> why buy yesterday.....to stay one step ahead of everyone else
> time will tell if i made the right decision
> i post my movements so other can see what i am doing
> it is a very large parcel for me and my budget... it does not matter the number of shares.




Snake just an observation.
Notice how your other profitable trades didnt require you to be one step ahead of everyone else.


----------



## Snakey

tech
in your chart you have the...likely retractment zone 
wouldnt this be a break in the trend?

i have it at .078


----------



## Snakey

nizar said:
			
		

> Snake just an observation.
> Notice how your other profitable trades didnt require you to be one step ahead of everyone else.



yeah you are right nizar
maybe to early
time will tell


----------



## nizar

This one looks the goods. Still has a bit of work to do but looks promising in early morning trade.


----------



## Wilson!

I'm in


----------



## darian

thanks tech, very informative as usual. 
cheers.


----------



## tech/a

Snakey said:
			
		

> tech
> in your chart you have the...likely retractment zone
> wouldnt this be a break in the trend?
> 
> i have it at .078





Depends on where you draw the trend line from.

There are longer term and intermediatary trends on the chart.


----------



## Wilson!

Hey tech

How do you see it performing on the chart today?
Looks pretty strong if it can breach 8.7 then 8.9



Cheers...
Wilson!


----------



## Snakey

Wilson! said:
			
		

> Hey tech
> 
> How do you see it performing on the chart today?
> Looks pretty strong if it can breach 8.7 then 8.9
> 
> 
> 
> Cheers...
> Wilson!



its like tech says....one day turn around is hard to sustain
would not expect break out this week but any trading under .082 i would buy more if i could ....if it reaches .078 buyers will hammer in to it at this price i believe. this ones a keeper for me at least untill i see 10c.

tech...here is an ideal sample of a snakey medium term hold...
buy xxx @ 2.5 sell 5.0
3 days later 
buy xxx @ 3.0 sell 6.0
2 days later
buy xxx @ 5.0 sell 10.0

this is the same as a hold from 2.5 to 13.0 
effectively its a hold plus benifits and decreased risk
your 5.0 buy cost you 0.0...if they go to 4.0 your still in front.
what do ya recon?


----------



## tech/a

Snakey said:
			
		

> its like tech says....one day turn around is hard to sustain
> would not expect break out this week but any trading under .082 i would buy more if i could ....if it reaches .078 buyers will hammer in to it at this price i believe. this ones a keeper for me at least untill i see 10c.
> 
> tech...here is an ideal sample of a snakey medium term hold...
> buy xxx @ 2.5 sell 5.0
> 3 days later
> buy xxx @ 3.0 sell 6.0
> 2 days later
> buy xxx @ 5.0 sell 10.0
> 
> this is the same as a hold from 2.5 to 13.0
> effectively its a hold plus benifits and decreased risk
> your 5.0 buy cost you 0.0...if they go to 4.0 your still in front.
> what do ya recon?




fine if you can find price action that coinsides with that type of trend formation.


----------



## Snakey

tech/a said:
			
		

> fine if you can find price action that coinsides with that type of trend formation.



mls aim gdn dyl
its very hard to stay one step ahead of the price action because the market always  moves the goal posts and there only one thing that you can be sure of... and thats.. you can never be sure of anything.


----------



## Wilson!

Looking good, got it right today - happy with that
Support building at 8.9

Would be good to see 9c chomped, which could let the gates open


----------



## Snakey

are these hitting your radar yet tech?


----------



## MiningGuru

9c chomped now

It has moved to 9.1c

Fantastic signs for a push to 10c!


----------



## tech/a

yeh watching and good to see your having a run.

Its just not a setup I would trade, for those reasons shown in the chart.

*My analysis will be wrong if there is sustained trading above 9.5c*


----------



## Snakey

tech/a said:
			
		

> yeh watching and good to see your having a run.
> 
> Its just not a setup I would trade, for those reasons shown in the chart.
> 
> *My analysis will be wrong if there is sustained trading above 9.5c*




my prediction would be wrong if it breaks high today


----------



## nizar

tech/a said:
			
		

> *My analysis will be wrong if there is sustained trading above 9.5c*




If that happens i will most likely jump in with both feet


----------



## Snakey

out at .09
no thats not me on the board at .09


----------



## nizar

Snakey said:
			
		

> out at .09




Quick profits a good profit.
Well done.


----------



## tech/a

Snakey I'm impressed.

Day traders now selling out---- how buyers hold the selloff will tell a lot about future action. This will go on for the next 45 mins or so.


----------



## Snakey

tech/a said:
			
		

> Snakey I'm impressed.
> 
> Day traders now selling out---- how buyers hold the selloff will tell a lot about future action. This will go on for the next 45 mins or so.




thank you
i just hope it not one of those trades you regret 10 mins later


----------



## Snakey

looks like correct decision at the moment


----------



## tech/a

Snakey.

A closed trade to me is just that.
All done.

For me right or wrong once its over then thats it for that trade.
Next trade is the next trade---not a left over of the previous trade!!


----------



## Snakey

tech/a said:
			
		

> Snakey.
> 
> A closed trade to me is just that.
> All done.
> 
> For me right or wrong once its over then thats it for that trade.
> Next trade is the next trade---not a left over of the previous trade!!




yes you are right
will now work on the "one day turn around is not sustainable" factor
and wait for this to come true 

my other ones are going alright too thats rmi


----------



## Snakey

nearly signaled buy for me
whats your conclusion tech?


----------



## Bullion

Strong close... I am back in at 9.2c hopefully tomorrow brings the buyers back


----------



## MiningGuru

Very strong close

Pushed up to 9.4c, above its highest for the day on the ending auction.

Very bullish signs for tomorrow!

Strong volume too.


----------



## Snakey

well ill be
did not expect that 
back in at close with just 500k


----------



## Dave31

Was in meetings all day, came back and noticed a high of 9.2c and current of 9.0c was getting a bit nervous about missing the high. 

The close looks promising for tomorrow. Might have to keep a close eye on it around open!


----------



## Absolutely

I kind of think there is coming news out there driving this. Really took off at the end there. I was continuously pulling my sell orders all day at the last second. Glad I stayed in.


----------



## tech/a

Interesting.

Its set itself for a double top of .094.
You'll note from the chart the volume has been less on this move than in other impulse moves. (breakouts).
Best of luck Snakey you should change your handle to "Maverick"----- I have a trust called Maverick!


----------



## ezyTrader

tech/a, it's interesting cos my interpretation is today's move is a bullish white candle, esp with 14% gain.
Well, tomorrow's action will tell-- double top, or a breakthru from the 9s to the teens. And then of course, 10 cents will always be the price barrier to contend with. 
Welcome other opinions.


----------



## Snakey

tech/a said:
			
		

> Interesting.
> 
> Its set itself for a double top of .094.
> You'll note from the chart the volume has been less on this move than in other impulse moves. (breakouts).
> Best of luck Snakey you should change your handle to "Maverick"----- I have a trust called Maverick!




thanks for that
kicking my self at that last trade (out at 0.9)
has any one got a gun???
still learning so cant be to hard on myself.
good luck to all holders


----------



## tech/a

Thought you had another 500,000?



> well ill be
> did not expect that
> back in at close with just 500k
> Today 03:17 PM




Anyway If it does blast out at open the trend will be far stronger than anticipated and this will be a continuation of the current trend.
With a possible top of around .098c or 12c.Based on Measured move analysis (ie 100% of the last moves length or 1.618% (fib Numbers)).

However I'm still not convinced that this wont form a double top.
Thats why I'm not in.Even if it did blast on I probably wont trade it as it needs some consolidation to sustain a move.(My opinion).

Some great profit there snakey,but gutsy trading by my standards.
But they are mine not yours.


----------



## Snakey

tech/a said:
			
		

> Thought you had another 500,000?
> 
> Anyway If it does blast out at open the trend will be far stronger than anticipated and this will be a continuation of the current trend.
> With a possible top of around .098c or 12c.Based on Measured move analysis (ie 100% of the last moves length or 1.618% (fib Numbers)).
> 
> However I'm still not convinced that this wont form a double top.
> Thats why I'm not in.Even if it did blast on I probably wont trade it as it needs some consolidation to sustain a move.(My opinion).
> 
> Some great profit there snakey,but gutsy trading by my standards.
> But they are mine not yours.




488k actually....closing order not filled
850k order at .094 
bidded .094 at close to prevent paying too much (would not bid 10) if it closed at 10 i'd be in trouble
also swapped 500k mls to 500k rmi today which was a mistake.. i think


we had some good consolidation at around 6c Tech
which indicates to me 12 will be the temp high
any further jorc findings would shoot it up further


----------



## Caliente

can anyone say yeehaw? Still waiting for that next announcement as per previous posting.  

-Caliente
(chilling back with an icy cold one at Qantas Club, Melbourne ^_^)


----------



## Wilson!

I went in 8.7 out 8.9 
then she dropped back to 8.5 

Then in at 9.1, half an before going to a meeting - how stupid is that?
Didn't sell when she paused at 9.2c
Went back to 8.9, sold there as I had to leave, then saw it closed at 9.4c   

Wuould have been around $800 profit for the day - small but would've been happy with that


----------



## Royce

Wilson! said:
			
		

> I went in 8.7 out 8.9
> then she dropped back to 8.5
> 
> Then in at 9.1, half an before going to a meeting - how stupid is that?
> Didn't sell when she paused at 9.2c
> Went back to 8.9, sold there as I had to leave, then saw it closed at 9.4c
> 
> Would have been around $800 profit for the day - small but would've been happy with that




Classic case of over trading...stick it in the drawer for a few months, you will do much better. Mls is ar the start of an uptrend, hang on to it for a few month and you will do very well.

Thats what  did when i bought CBH at 7 cent and sold for 80 cents  
Idl for 6 cents ...price is currently 29 cents 

Royce


----------



## nizar

Snakey said:
			
		

> 488k actually....closing order not filled
> 850k order at .094
> bidded .094 at close to prevent paying too much (would not bid 10) if it closed at 10 i'd be in trouble
> also swapped 500k mls to 500k rmi today which was a mistake.. i think
> 
> 
> we had some good consolidation at around 6c Tech
> which indicates to me 12 will be the temp high
> any further jorc findings would shoot it up further




Snakey
This was NEVER going to close at 10c today. Not enough volume momentum. And the sellers are already waiting.

And iv seen companies release JORC resource estimate announcements and the share price do nothing.

That said i think the close is bullish for tomorrow.

But only if it doesnt gap up 2 far. If it gaps up 2 say 10c, then 10.5 maybe the top. But if we open at 9.4-9.6. Then we could be set.

My opinion only.


----------



## Dutchy3

I've had a look at this chart ... if I was long I'd just be hanging on for dear life ... looks like a ripper!


----------



## Royce

Dutchy3 said:
			
		

> I've had a look at this chart ... if I was long I'd just be hanging on for dear life ... looks like a ripper!




Chart is looking magnificent..MLS has 20 plus cents written all over it.

Royce


----------



## nizar

Wilson! said:
			
		

> I went in 8.7 out 8.9
> then she dropped back to 8.5
> 
> Then in at 9.1, half an before going to a meeting - how stupid is that?
> Didn't sell when she paused at 9.2c
> Went back to 8.9, sold there as I had to leave, then saw it closed at 9.4c
> 
> Wuould have been around $800 profit for the day - small but would've been happy with that




This sounds like overtrading. I used to do the same thing not too long ago.

Youve got to have some sort of plan.
Why did you buy at 9.1c?
What signals were there?
(no criticism - none at all, im an amateur - just trying to get you thinking)

I was waiting for a break of 9.4 (the previous high) to re-enter. Never happened.

The volume today i notice people making a big deal about the rush towards the end, including a mate that gave me a call sounding very excited. It was no big deal. I told him that. We have seen this stock do 300m in one day. If the buyers were that desperate they would have chased the stock. I didnt see this. It was the Brokers who closed it up 2 ticks.

But if this has enough volume momentum to get past 10-11c. It could run very quickly.


----------



## constable

nizar said:
			
		

> This sounds like overtrading. I used to do the same thing not too long ago.
> 
> Youve got to have some sort of plan.
> Why did you buy at 9.1c?
> What signals were there?
> (no criticism - none at all, im an amateur - just trying to get you thinking)
> 
> I was waiting for a break of 9.4 (the previous high) to re-enter. Never happened.
> 
> The volume today i notice people making a big deal about the rush towards the end, including a mate that gave me a call sounding very excited. It was no big deal. I told him that. We have seen this stock do 300m in one day. If the buyers were that desperate they would have chased the stock. I didnt see this. It was the Brokers who closed it up 2 ticks.
> 
> But if this has enough volume momentum to get past 10-11c. It could run very quickly.



Nizar, i agree 100% you have got to give the stock a chance to run esp. if its trending upwards anyway! Dont be to quick to lock in your profits and look at the facts of the day !


----------



## Wilson!

Guys, yes I have a plan, today I bought at 9.1 as I saw it break above 9c and saw that as a major resistance.
I expected it to go up without any trouble, not with a gap

I had a 3.30 presentation to give, in the city, and had to close my position before I left

I am often trading on t+1 so can't hold overnight, or till close...

Had no choice. 

But, that second trade was my first loss in 11 trades 
Not bragging, just saying I'd love to stick around, longer trades, but can't just yet, but hey, this seems to be working ok for now


----------



## constable

Wilson! said:
			
		

> Guys, yes I have a plan, today I bought at 9.1 as I saw it break above 9c and saw that as a major resistance.
> I expected it to go up without any trouble, not with a gap
> 
> I had a 3.30 presentation to give, in the city, and had to close my position before I left
> 
> I am often trading on t+1 so can't hold overnight, or till close...
> 
> Had no choice.
> 
> But, that second trade was my first loss in 11 trades
> Not bragging, just saying I'd love to stick around, longer trades, but can't just yet, but hey, this seems to be working ok for now



There is nothing wrong with trading between ticks, i know i did it about 4 times today on the one stock. Great idea if you havent got the money to sit on them!


----------



## Wilson!

exactly

It's only annoying when you look back, and see your first entry say at 36c, then two weeks later, the sp closes one day at 73c 
(GDN - first bought in at 36c or so)

Ie holding would have been better, and more profitable than trading it - doesn't always end up like that though.

A few weeks ago, I made 6 small tick trades in about 3hrs
Each was about a 5 or 6 min hold, overall, for between 0.5 - 2c profit.

Made $1400 profit - stressful at times, but can be very profitable.


----------



## tech/a

With such a high close overnight on the DJIA,today will be bullish and MLS will break to new highs (my style).

Will be out of the office till lunch so will have to trade this by remote!
Hope you all make a squillion.


----------



## krisbarry

MLS looking very strong in pre-open...all base metal prices up overnight.

I have traded MLS a few times over the past 2 weeks and made a few grand profit.


----------



## Dave31

wow... good chance these can get pulled...

but 1,000,000 unit bid @ $0.10 ... please let that stay there!


----------



## nizar

Dave31 said:
			
		

> wow... good chance these can get pulled...
> 
> but 1,000,000 unit bid @ $0.10 ... please let that stay there!




I like what im seeing with this one.
Indicative at 9.7. Very bullish.

That mil bid is probably Snakey aiming to get another "tiny" parcel.


----------



## Wilson!

Doh

Wish I could have held my 9.1c entry overnight


----------



## Dave31

good to see the bids building.
Would be nice to see this run up a bit, but like I've read you guys mention about the 'round number resistance'... 10c could be a hard point to pass... 

Oh and I dont get that low sell offer at 8.9c, what makes someone do that??


----------



## krisbarry

Plenty of money has been flowing through both MLS and RMI of late and I reckon we will see resistance on MLS as it gets closer to the 10 cent mark. At that time RMI will most probably get a good run.  Thousands of traders on both stocks, and both have had massive volume of late and speeding tickets


----------



## Snakey

nizar said:
			
		

> I like what im seeing with this one.
> Indicative at 9.7. Very bullish.
> 
> That mil bid is probably Snakey aiming to get another "tiny" parcel.



no im the one below it for top up of 400k


----------



## nizar

Can someone please confirm if this is how opening auctions work.

Say indicative is 9.8c.

If you want to be as in front of the queue as you can, ie. buyer, you would have to bid slightly above this price ie. 9.9c

And if you want to be as in front of the queue as you can, ie. seller, you would have to bid slightly below this price ie. 9.7c

Is that how it works?

And if it opens at 9.8c (as indicated). All the bids from 9.9 to 10.5c all get filled at that price i presume.


----------



## Snakey

nizar said:
			
		

> Can someone please confirm if this is how opening auctions work.
> 
> Say indicative is 9.8c.
> 
> If you want to be as in front of the queue as you can, ie. buyer, you would have to bid slightly above this price ie. 9.9c
> 
> And if you want to be as in front of the queue as you can, ie. seller, you would have to bid slightly below this price ie. 9.7c
> 
> Is that how it works?
> 
> And if it opens at 9.8c (as indicated). All the bids from 9.9 to 10.5c all get filled at that price i presume.




no .....front of queue 53000 at 11


----------



## nizar

so if i bid 12c now ill get filled first, most likely at 9.8c?


----------



## Snakey

nizar said:
			
		

> so if i bid 12c now ill get filled first, most likely at 9.8c?



correct


----------



## Dave31

How'd you go Nizar?

I've been interested to learn how the open auction works!


----------



## Wilson!

I'm in at 9.7
Was worried when went down to 9.6, but looks like it could bounce back


----------



## Bullion

Very strong now... I got a bit worried and was out at 9.8   

Hitting a wall at 10c at the moment though...


----------



## nizar

Dave31 said:
			
		

> How'd you go Nizar?
> 
> I've been interested to learn how the open auction works!




Weak open.
We need 100m+ in the first half hour to break through 10-11c. 20mil of sellers there now. Probably another 20mil off-screen ready to dump.

I had to help my aunt and uncle load their baggage into the car. Walked back into the office at 10:15. Expected 50mil+ and 10.5/11, but no go.

Still early morning though i guess.


----------



## Snakey

nizar said:
			
		

> Weak open.
> We need 100m+ in the first half hour to break through 10-11c. 20mil of sellers there now. Probably another 20mil off-screen ready to dump.
> 
> I had to help my aunt and uncle load their baggage into the car. Walked back into the office at 10:15. Expected 50mil+ and 10.5/11, but no go.
> 
> Still early morning though i guess.




needs time to unfold
strong support  above 9.5


----------



## nizar

Snakey said:
			
		

> needs time to unfold
> strong support  above 9.5




Now 9.7/9.8.
Too many sellers.
Support with this stock means nothing. ON Tuesday 5million bidders at 9c got wiped out in a flash.


----------



## Snakey

nizar said:
			
		

> Now 9.7/9.8.
> Too many sellers.
> Support with this stock means nothing. ON Tuesday 5million bidders at 9c got wiped out in a flash.



just a observation
things always look good before they look bad
sellers building strength now
whos going to buy at 10 when there is 11 mil at 10.5?


----------



## Bullion

nizar said:
			
		

> Now 9.7/9.8.
> Too many sellers.
> Support with this stock means nothing. ON Tuesday 5million bidders at 9c got wiped out in a flash.




Just like then... 9.8 down to 9.6 were just smashed in a matter of seconds...


----------



## dubiousinfo

nizar said:
			
		

> Can someone please confirm if this is how opening auctions work.
> 
> Say indicative is 9.8c.
> 
> If you want to be as in front of the queue as you can, ie. buyer, you would have to bid slightly above this price ie. 9.9c
> 
> And if you want to be as in front of the queue as you can, ie. seller, you would have to bid slightly below this price ie. 9.7c
> 
> Is that how it works?
> 
> And if it opens at 9.8c (as indicated). All the bids from 9.9 to 10.5c all get filled at that price i presume.




What happens before the market opens at 10am and the same process is followed during the closing auction (4:00-4:15pm) and before ANY pre-open auction.....ie...usually about 10 mins before a stock resumes after a trading halt for any reason.

The stock market goes into pre-open from 7am during which time anybody can put in whatever bids/offers they like (auction). During pre-open SEATS (Stock Exchange Automated Trading System) then goes thru a 4 stage algorithm to compute the IAP (Indicative Auction Price) based on the mkt depth whenever it changes. The IAP represents what the opening price would be at that particular time based on the current market depth if the stock opened for trading there and then. 

At 10am stocks begin trading in alphabetical order. The market is fully open by about 10:08am. When the stock opens for trading, all orders with bids above the IAP and all orders with offers below the IAP are executed at the IAP. The IAP when the stock actually opens becomes the quoted opening price. During pre-open people put in bids above the IAP and offers below the IAP to ensure their orders are executed on opening.

At 4:00pm normal trading stops but again anybody can continue to put in whatever bids/offers they like until 4:15pm, just like in the morning preopen, but the orders aren't executed until 4:15pm. During the 15 mins closing auction SEATS again computes the IAP as above each time the market depth changes. At 4:15pm, for each stock all orders with bids above the IAP and all orders with offers below the IAP are executed at the IAP. In this case the IAP will be the quoted closing price.

I hope this makes sense and helps


----------



## Snakey

its over for me now 
will watch for 3 day retrace 
thank you for the ton of cash mls


----------



## MiningGuru

Looks like it is now receovering after the re-trace to 8.4c

Up to 8.6c this morning


----------



## Snakey

MiningGuru said:
			
		

> Looks like it is now receovering after the re-trace to 8.4c
> 
> Up to 8.6c this morning



yes I believe so too and i am back in for christmas special / re-trace
on @ avg .0855 / 1m
i will hold them till after crissy
as i dont expect to much action till after the holiday break 
very bad day on market over all


----------



## Absolutely

Well for mine, I agree that the retrace is virtually complete.

Back in at 8.3c this morning.


----------



## skint

Absolutely said:
			
		

> Well for mine, I agree that the retrace is virtually complete.
> 
> Back in at 8.3c this morning.



Been hammered for another 9.7%. Manipulation or a common garden variety retrace? Be interested what the techy's thoughts on this one are. Pity no-one rings a bell to signify the bottom.


----------



## nautilus

Hi guys, I'm newbie to this website but have been watching some good post by the veterans.

MLS seems to have dropped about 25% since topping 10c mark on 15 Dec. Would be surprised if there's a small rebound but I think it should consolidate first.

Would love to buy this stock but I'm waiting for the retrace to complete. Any thoughts on this?


----------



## mmmmining

I thought MLS has some uranium assets. After a bit of research, found still not settled yet. It has been over a year now. Don't know what is going on. The deal  looks so good on paper. But a bit of fishy. Also, the company looks like preoccupied by the zinc project. It might be a big mistake without closing the uranium deal quickly.


----------



## Royce

Mls up 16% today...consolidation phase over, start of the next uptrend.

Next resistence 10 cents.

Royce


----------



## krisbarry

Good run on this one today, more expected as drilling gets underway shortly.


----------



## SevenFX

I just had a lazy few bucks and decided to prop up mls with 3.4m at 8.9   NOT.

This should get things moving ????? but I may make it dissapear later, hence never getting filled...   :  

Heavy Insto minupulation going on here...


----------



## Royce

SevenFX said:
			
		

> I just had a lazy few bucks and decided to prop up mls with 3.4m at 8.9   NOT.
> 
> This should get things moving ????? but I may make it dissapear later, hence never getting filled...   :
> 
> Heavy Insto minupulation going on here...




The 3.4m bid moved up a few notches to 9.2 cents and got filled.

Makes me feel comfortable  hanging on to minor holdings

Royce


----------



## SevenFX

Royce said:
			
		

> The 3.4m bid moved up a few notches to 9.2 cents and got filled.
> 
> Makes me feel comfortable  hanging on to minor holdings
> 
> Royce




Yes Royce

It did see it filled, to my supprise, as that one COS was $296,000.

What I was supprised about is if that is smart money, why was it chasing the price up till it got filled, and why was the order not broken up into smaller parcels... maybe not instos

That's a huge single parcel to fill as well...????

All new to me, so be interested to hear other experienced views....

SevenFX


----------



## camaybay

Looking at E Trade intra day chart, 3.5m at end of trading.088,other chart indicators MACD reducing below zero,OBV building.Day looks like consolidation below 0.09.Any ann in new year will release MLS sp into space.IMHO (Read the speeding ticket explanation)

_________________________________________________________________
All info can be inteperted, all ways, always. DYOR


----------



## fma007

This seems to be going down forever more..    anyone have an opinion on it? anyone know when any news is due?.. thanks


----------



## ASX.CODE

Zinc and most metals are down ...so.. whats happening should be normal.. however an announcement could work wonders...!


----------



## kransky

are we seing good support at 7.2c charties?


----------



## SevenFX

kransky said:
			
		

> are we seing good support at 7.2c charties?




Hi Kransky,

I see only intraday support at .72 but not much else...so don't put the house on it..IMO

SevenFX


----------



## vert

i'm no chartie but here is one with a fib retracement, looks like it could bounce of the 50% retracement which also lines up with the highs in nov/dec before breaking up to new highs which would be support ?


----------



## kransky

thanks guys


----------



## fma007

Yes.. very nice to see. Still, the stock dropped over 30% over the last couple of weeks. Still got a bit of recovery to do. A quite volatile stock.


----------



## MiningGuru

Finished on a high for the day of 8.5c.

Breakout! and a good sign for movement in the next few days!

Up 12%


----------



## hitmanlam

Yes.  Eyeing this one on my watchlist.  Really needs to break 10c with volume for it to really really run.

Very Very strong resistance at 9.5c to 10c.  I think it got knocked back twice around the 9.5c mark a couple of months ago.  If it can passes the resistance (alot of sellers here), sell depth should thin out pass the 10c mark.

I will be there when it happens......... 

Until then, be weary of this stock.


----------



## MiningGuru

Making a bit of a run today.

Pushed up to the 8.4c mark

Interesting to see what happens this afternoon.


----------



## SevenFX

MiningGuru said:
			
		

> Making a bit of a run today.
> 
> Pushed up to the 8.4c mark
> 
> Interesting to see what happens this afternoon.




Certainly is some activity here MG....but not sure enough to take it back to recent highs...

SevenFX


----------



## MiningGuru

SevenFX said:
			
		

> Certainly is some activity here MG....but not sure enough to take it back to recent highs...
> 
> SevenFX




Now pushed higher to 8.7c on strong turnover. If it finishes on its highs will have a good chance of breaking 10c tomoroow or next couple of days.


----------



## Royce

No news from MLS for a couple of months...AGM on 2nd March.

Any ideas when the next resource upgrade will be announced.


Royce


----------



## Serpie

Royce,

2nd Quarter Activities Report and Cashflow Report due out before the end of January, so hopefully there's something positive in there.

Serpie


----------



## Royce

Thanks serpie..hopefully shares can break through that elusive 10 cent barrier on some decent announcements.

Royce


----------



## giss

AGM on 2nd March.

Last time WMT went for a run MLS soon followed. 

I'm not sure what has set off WMT besides day traders - no announcements

Might be time to review MLS before AGM


----------



## windwalker

Will wait till AGM then decide whether to stay for the ride or bail :grenade:


----------



## MiningGuru

The buyers have returned!

Up .4c today.

The 7c resistance level has held strongly and it is now bouncing up again.

Could be time to top up


----------



## MiningGuru

Message in another forum

I'm told that U deal is done and it just has to be presented to the market Ann late this week or early next week?????????????? SO I am told

Drilling to start in three days Weekend
And the best thing is THE U can be mined straight away we do;nt have to wait for 5 or 10 years like we do in Australia


----------



## MiningGuru

Breaking Out!

Up 10% today to 7.7c so far!

Announcement coming very soon about the U.


----------



## Dave31

Well it did run from 7.2c to 7.7c in the last 30mins. Could this be a sign of the next run up, maybe test 10c again?


----------



## Dave31

Just went through 8c.

Has been trading between 7.2 and 7.7c for the last week.


----------



## Speedbird675

Dave31 said:
			
		

> Just went through 8c.
> 
> Has been trading between 7.2 and 7.7c for the last week.




Correct .. and comparatively pretty low volumes, but today 23 million odd shares traded ... mass buying before an expected announcement due shortly ??


----------



## Speedbird675

Any updates or news on further drilling program which was due to commence end of feb, apparently awaiting clearances by the WA govt??

Losing patience with this one


----------



## Dave31

MLS in pre-open with ann re: Drilling programme


----------



## Gundini

Dipped my toe in today @ .07, seems to be a bit of support at these levels.


----------



## nizar

Gundini said:
			
		

> Dipped my toe in today @ .07, seems to be a bit of support at these levels.




Yeh it does seem like that.


----------



## Gundini

She finished off a bit plain today Nizar, not as solid as I would have hoped. Anyone else still holding and positive?


----------



## Halba

Hi, I sold this at 7.4. Interesting the punishment. Mkt cap is low.


----------



## Gundini

MiningGuru said:
			
		

> Message in another forum
> 
> I'm told that U deal is done and it just has to be presented to the market Ann late this week or early next week?????????????? SO I am told
> 
> Drilling to start in three days Weekend
> And the best thing is THE U can be mined straight away we do;nt have to wait for 5 or 10 years like we do in Australia




Haven't heard any more about that U deal MiningGuru, any news?


----------



## Gundini

Gundini said:
			
		

> Haven't heard any more about that U deal MiningGuru, any news?




I guess not, but not a bad run today for MLS after a morning low of .06, up 10% so far, picking up yesterdays loss's.


----------



## Gundini

Good news!

2 granted project areas in Namibia.

Known Uranium occurrences.

Hasn't been explored for 20 years and yet to be tested with modern methods.

Sounds promising!


----------



## fma007

That explains the sudden spike i had on my screen! Great for me considering i doubled my holding yesterday coz i thought it was cheap


----------



## Gundini

MLS were to pay for the 2 project with a parcel of Fully Paid Shares and cash, but there was a misrepresentation by the vendor (Namibian title holders), so in the wash up, MLS gets these tenements for free, and get to retain 100% interest.

This was in consideration for Metals agreeing not to pursue the vendors and their advisors for damages!

Gotta be happy with that...


----------



## deftfear

Could it mean that the original owners didn't think that the land was worth much? I initially thought it was good getting the tennaments for nothing, then on a second thought that's what came to mind.


----------



## Gundini

deftfear said:
			
		

> Could it mean that the original owners didn't think that the land was worth much? I initially thought it was good getting the tennaments for nothing, then on a second thought that's what came to mind.





I agree... The original main tennement was not located as stated by the vendors. It was in fact outside the boundary. MLS applied for the 3rd tennement to cover the main uranium occurence but was denied. 

The final results of Metals due diligence concluded that both tenements are in known uranium provinces and are located sufficiently close to known uranium occurences to have high prospectivity for uranium mineralisation. 

So, basically they are next door to the main occurence, but MLS belives the projects have the potential to host near surface uranium deposits.


----------



## Jus

bottom line is zinc price will continue to go up until demand slows down. right now China is on fire (last week's crash was just a correction), even if China stops growing we still have India in line. their U is a bonus to the sp. i'm holding for long term and do suggest a buy anywhere less than 0.09.


----------



## Speedbird675

Completely agree ... I got in at 9.5c  and topped up at 7c few days ago .... and still holding (not that I have any other option) .. long term this stock looks good. March and beyond watch the zinc price rocket.


----------



## Jus

Speedbird675 said:
			
		

> Completely agree ... I got in at 9.5c  and topped up at 7c few days ago .... and still holding (not that I have any other option) .. long term this stock looks good. March and beyond watch the zinc price rocket.




I bought a few times in october last year, sold half in mid december to protect my capital and currently on free ride. Reason i did not sell all because i believe MLS hasn't really show their true colors, and because of global metals output shortage. Also, I do hope a takeover offer from the big boys.

anyways, good luck to all holders.


----------



## MiningGuru

This one has started to move strongly today, up .5c today to 7.1c

A announcement about drilling in their Zinc deposit is due soon. There is a good chance of a large resorce upgrade. 

Maybe insidersw buying before the announcement?


----------



## Gundini

Nice move today against the market trend. Maybe ann coming soon. 

EDIT: Sorry MiningGuru, beat me to it, hope something good comes out of this....


----------



## Agentm

i hope the trend continues.. will enjoy any gains this one can offer..


----------



## Jus

It's been quite some time since we last seen MLS traded over 15.6 mil in volume and strong close too. Up 9%. Good stuff!


----------



## Jus

Written by Robin Bromby, March '07, the Mining Week

*Tabs on uranium*
KEEPING track of the uranium hopeful stocks is almost becoming a full-time job. These are some of the announcements that came out last week: 

* Metals Australia (MLS) has picked up two projects in Namibia. The Mile 72 licence is north of the Langer Heinrich uranium mine while Engo Valley is in the Skeleton Coast Park in the extreme northwestern part of Namibia.


----------



## Ken

Any of you guys still holding MLS?

What key dates are you waiting for?

Is more capital raising expected?

Does the company have too many shares on issue?


----------



## sleeper88

Patience is the key to this one.

1. high grade zinc deposit with resource upgrades coming 
2. 30% free carry in nickel prospects 
3. Nambian uranium prospects 
4. plenty of cash, approx 4-5 million from memory


----------



## Agentm

still holding,   

3 different types of announcements to come, one will be a series of updates on the reserves the company has in zinc, another is re the nickel project, and then there is an uranium announcement to come. which order??  no one knows.. but its on the verge of happening..

plenty of shares out there, you will find there is no problem in getting them,, expect 100 - 300mill trading days when the announcements begin to roll..

good luck to all holders


----------



## Ken

http://www.xemplar.ca/corporate.php

Check this video out.

It has some photage of namibia erongo valley uranium sites which I guess are where MLS are also looking.

Xemplar has trippled in price since listing.


----------



## Gundini

Ken said:


> http://www.xemplar.ca/corporate.php
> 
> Check this video out.
> 
> It has some photage of namibia erongo valley uranium sites which I guess are where MLS are also looking.
> 
> Xemplar has trippled in price since listing.




A few people must have seen the video...

MLS off for a little run (again) today.

Seen this before, so hope they can keep it up... Or ann something good...


----------



## Agentm

its due to arh announcement..

there is plenty of upside still to go..   good luck to all holders..


----------



## Gundini

Agentm said:


> its due to arh announcement..
> 
> there is plenty of upside still to go..   good luck to all holders..




Don't mean to be ignorant Agentm, but can't see any MLS in ARH ann, and MLS not listed in top 20 shareholders that I can see.

Do MLS have an interest in ARH ?


----------



## Agentm

*Metals Australia obtains 30% free carried interest over the Sherlock Bay Extended *


[FONT=arial, helvetica, sans-serif]29 January 2007[/FONT]
[FONT=arial, helvetica, sans-serif]Metals Australia Ltd is pleased to announce that it has concluded an agreement with Fox Resources Ltd and Australasian Resources Ltd to acquire a 30% 'free-carried' interest in the Sherlock Bay Nickel Extended Project[/FONT]


http://files.aussiehome.com/493/MLS Sherlock Bay Project 3.07.pdf

its not a shareholder,, ARH lists soon, and they announced they are going to focus on the nickel.. hence the sp gain..


----------



## Gundini

Agentm said:


> its not a shareholder,, ARH lists soon, and they announced they are going to focus on the nickel.. hence the sp gain..




Thanks Agentm, didn't look back that far... Interesting Cheers


----------



## Agentm

In all seriousness I think anyone who is a MLS investor should seriously look at what ARH just released on the asx today, the sherlock bay project has about 9 anomolies they are going to explore, on the lease that has 30% free carry to mls holders... 

It's worth a read..


----------



## Jus

Not bad ending the day +0.009 Next week should be interesting, anticipation towards quarterly ann. and resource upgrade.


----------



## Royce

Agentm said:


> in all seriousness i think anyone who is a MLS investor should seriously look at what ARH just released on the asx today, the sherlock bay project has about 9 anomolies they are going to explore, on the lease that has 30% free carry to mls holders...
> 
> its worth a read..




Very impressive report....Can't see MLS staying under 10 cents for too much longer.

Royce


----------



## ongchuan

MLS didnt perform much this few days...just sideway....when is the news coming out? Is it really soon? Worth holding for one more week??


----------



## MiningGuru

It seems to me that someone must be accumulating. There have been some big buys in the last 30 minutes.

This has got a lot further to go!


----------



## Agentm

it certainly does this a lot lately, i wonder how well it will run with announcements in the coming weeks?


----------



## MiningGuru

8c has now been chomped. Bit through 2 million shares at this level.

Looks as though its going to be a breakout and a strong finish today!


----------



## MiningGuru

Now up to 8.2c. Someone really wants these!


----------



## explod

Have been watching these since last year when I noticed Owen Heggarty (CEO of Oxr) buy a parcel on market.  I think he is on the MLS Board too and in my view a very good operator.   With metals taking off, emerging stocks such as these with a smell of uranium are worth a punt. 

I have shares in this, am not qualified to give financial advice and any resemblance to fact may be coincidental.


----------



## ongchuan

Last minute done at the $0.082. Good job for today! I guess tomorrow will be an interesting day. Probably they are going to release their third quarter activities report later today or tomorrow. The third quarter financial report is out but the activities report still not yet. I think something good is cooking...hehehe


----------



## Agentm

i heard the 3rd quarter report is now next week at least.

the upgrades will be startling, and if they decide to release what they have on the U, then hold on tight... 

ARH may also announce sherlock, and when they do the 30% free carry MLS has starts to come into the share, currently 00. in the sp for U and sherlock.

todays volumes are indications of what may be the norm in the next few weeks, and i look forward to seeing what an announcement will do to the sp.

good luck to all holders..


----------



## hitmanlam

Support at 6.4c.  Major resistance at 10c.  Would definitely buy if it hits 10.5c ish.  A long way to go yet though.  Needs a couple of white candles to keep the momentum building. MACD is crossing pass 0 and volume is building.  Expect it to go for abit of a run past 10c cause its a U player.  That's IF it gets there though.


----------



## rub92me

Well, I don't see major resistance at 10 cents. I see some resistance at 9 cents (tested twice) and some resistance at 10 cents (tested once). Would be nice if it can break past 9 cents today for starters..


----------



## CanOz

rub92me said:


> Well, I don't see major resistance at 10 cents. I see some resistance at 9 cents (tested twice) and some resistance at 10 cents (tested once). Would be nice if it can break past 9 cents today for starters..




All time highs are always major resistance, look at the volume too, imagine how many weaker hands are there, waiting to sell and break even.

Cheers,


----------



## ongchuan

Yahooo...significant cooper has been identified!!! Let's wait to see it fly today!


----------



## nizar

CanOz said:


> All time highs are always major resistance, look at the volume too, imagine how many weaker hands are there, waiting to sell and break even.
> 
> Cheers,




Agree with Can.
Every spec always has trouble getting past 10c because its at that point the ticks go to 0.5c increments, a big jump from 0.01c increments.

PEN, WMT, BLR, MLS, AUZ just about any spec i can think of that started from 2-5c had trouble at 10c.

MLS is no different.

I would expect it to test it a few times before breaking. And it may even go to 10.5-11 but then go back down again. Like PEN recently.

What iv seen is that it needs to break it confortable, ie. go to maybe 12.5-13.5, and then pull back to 10-10.5 before its off again. We saw this with WMT, BLR, and APG.


----------



## rub92me

CanOz said:


> All time highs are always major resistance, look at the volume too, imagine how many weaker hands are there, waiting to sell and break even.
> 
> Cheers,



I see your point, but wouldn't that depend on how many shares were actually traded at or above 10 cents during that day. Maybe out of that volume less than 10% traded in that range (some anxious punters expecting it to break)?


----------



## ongchuan

SIGNIFICANT COPPER MINERALISATION AT THE
MANINDI ZINC PROJECT.
HIGHLIGHTS
·  Drilling has intersected a significant zone of near surface copper-zinc
mineralisation associated with the Mulgara (Zone B) gossan.
·  Drill hole MND 003 at Mulgara (Zone B) was sampled with a result of:
4.9m @ 3.95% Copper, 1.89% Zinc & 23 gpt Silver from 5.7 metres.
·  Significant additional sulphide mineralisation has been recognised in both the
footwall and hanging wall positions of the existing resources, and at depth.
Metals Australia Ltd (‘Metals’) is pleased to announce that prior to the commencement of its
current drilling programme at Manindi, a comprehensive review of the historical drilling and
geological modeling was undertaken. This review resulted in the sampling of a number of drill
holes, with significant results.


----------



## Ken

Massive insider trading I reckon on this one....

Massive volume price rise then announcement is it anymore clear cut?


----------



## ongchuan

What's wrong with this MLS? Good announcement but the SP is going in reverse gear.....


----------



## Techbuy

ongchuan said:


> What's wrong with this MLS? Good announcement but the SP is going in reverse gear.....




Resource sector is weak overall with only a few bucking the weakness.
Like NIA up 8.5cents on the day so far (has topped out at 73c before dropping back to 70c)

MLS is now $0.004 down on the day, guess the news was not enough to get over the general weakness.


----------



## Ken

I think the news was factored into its latest run. No doubt there will be more to come and the potential is there.

The fundamentals of the company dont come into the way everyone plays the market, if you were a betting person you'd have chips on the table at this stage I would say....


----------



## Ken

Are we looking at production from MLS in the short term?

How far off are they?  How is the risk/reward factor with them?  Has anyone calculated the potential to the their share price?

Has a very similar feel about them to EXT, a lot of volume traded.

I like their prospects.

Who are the substantial holders?  and how many shares on issue?


----------



## rub92me

rub92me said:


> Well, I don't see major resistance at 10 cents. I see some resistance at 9 cents (tested twice) and some resistance at 10 cents (tested once). Would be nice if it can break past 9 cents today for starters..



Looks like the market has decided that the real resistance was at 8 cents. Go figure. So much for my technical skills :


----------



## Sean K

rub92me said:


> Looks like the market has decided that the real resistance was at 8 cents. Go figure. So much for my technical skills :



Yes, resistance around 8 ish. It's rarely exact. Now has some established 8.3 ish. There will be some at 9 and 10 as you say.

The chart looks pretty bullish to me still. If the Stochastics was going up through 50 then I'd be happier. I normally wait for all these things to align for a chart trade. 

It's up for argument where the 'breakout' is on this. Could be both green circles, but making a higher high will confirm it to me. That'll be at the blue circle perhaps. Although, perhaps the higher green circle is a higher high? That's where it breaks the downtrend line as well. 

So, perhaps it's broken out already.


----------



## MiningGuru

Announcement Out!

Additional Zinc at Manindi


----------



## Agentm

The first phase of drilling at Mulgara (Zone B) and Kowari (Zone D Sth) has now also been completed, with assays pending. Metals Australia *looks forward to announcing the results of the drilling at Mulgara (Zone B)*, when they have been received and evaluated.


nice!!​


----------



## newo

Announcement out re. 30% free carry at Sherlock from ARH. ARH report is an interesting read. Also see Agentm post 18th April.


----------



## Agentm

> *PROGRESS OF EXPLORATION ON THE SHERLOCK BAY
> EXTENDED PROJECT AREA.
> HIGHLIGHTS*
> 
> • Sherlock Bay Extended is composed of granted E 47/1227 and applications ELA 47/1769-1770, which cover an area of more than 470 km² and surround the main Sherlock Bay nickel project area.
> 
> • Soil sampling has been completed over a number of anomalies on EL 47/1227, with results currently being evaluated.
> 
> The Sherlock Bay Extended project is composed of a granted Exploration Licence (E 47/1227) and two Exploration Licence Applications (ELA 47/1769 and ELA 47/1770) which cover an area of more than 470 km² and surround the main Sherlock Bay nickel project area. The project is a joint venture between the Australasian Resources Ltd (70% interest) and Metals Australia Ltd (30% interest). Australasian Resources are the managers of the project, with Metals Australia being ’free-carried’ through to the completion of a bankable feasibility study and the decision to commence commercial mining.
> 
> Australasian Resources Ltd, as the project managers, were recently advised that Mining Act objections lodged by Ngarluma Aboriginal Corporation over E47/1769 and E47/1770 were withdrawn in April 2007. This allows the tenements to be advertised under the Native Title Act, which entails a further 4 month notice period. Australasian Resources Ltd is therefore expecting that these tenements will be granted during the second half of 2007.
> An initial programme of soil sampling on tenement E47/1227 was completed in January 2007 in order to test a number of anomalies identified by Metals Australia Ltd and other previous explorers. A total of seven geophysical targets occur within the Sherlock Bay Extended Project area and require testing. Assay results from the soil sampling programme are currently being analysed by Australasian Resources which will assist with the planning of future exploration work on the tenement.
> 
> Yours faithfully,
> Norman Grafton
> Company Secretary
> Metals Australia Ltd





the land title objections are now withdrawn.
i am looking forward to the results of the tests done in january..


----------



## resourceboom

What do people think of the quarterly report, it doesn't seem overly interesting to me, still more news to come shortly??


----------



## zaskar

Apologies I'm at work and can't post a chart.... mls seems to me a bit cheap.  in the last 3 months, 6 of the 7 big volume days have all been positive, and the recent decline in price is on very little volume.


----------



## ongchuan

It never break the 9 cent resistance. Too bad. Good future but the SP is so XXXXXX.....is it heavily undervalued company or is something wrong with it?


----------



## ongchuan

What are we waiting for now? The SP starts to move upwards again today. Looks strong on the buyer side. But there are 5M queuing up around 0.082. Any chance of breaking this resistance and move forwards to 10 cent region?


----------



## rub92me

ongchuan said:


> What are we waiting for now? The SP starts to move upwards again today. Looks strong on the buyer side. But there are 5M queuing up around 0.082. Any chance of breaking this resistance and move forwards to 10 cent region?



I'm waiting for a couple of days of upward sp movement with increasing volume. I can tell you by the end of the week whether this has happened, my crystal ball is a bit cloudy  Recent announcements have done little positive for this, so wouldn't bet on the next one making any difference either, unless it is spectacular and unexpected.


----------



## ongchuan

What happened to the MLS? Recent announcements were positive but the SP seems to be stagnant around 7-7.5 cents. And there are heaps of seller queueing up around 8 cents region. What's wrong with them? Anyone??


----------



## rub92me

No use fretting about it. I assume you bought in at price x, with an expectation that it would break through based on positive news. That didn't happen. If it hits your stop, or you see a better opportunity elsewhere, get out. Otherwise, you patiently wait. I got in at 7.3 cents. It hasn't hit my stop. I'll give it another month. If it's still ranging on further positive news I might get out and try my luck elsewhere (unless I get stopped out before that).


----------



## ongchuan

Haha...I got in at much lower than urs...hehehe....I guess I will wait and hold it for long term.Target for at least 15 cents. Good luck@


----------



## kransky

Gotta wait for the drilling results... I think there is some good potential at the mandini Zn deposit...


----------



## sleeper88

Ann out..very impressive results, MLS in pre-open now, can't wait until they release a new resource estimate. Judging by indications so far, the resource is shallow and high grade, the resource could well be doubled.

I compared the charts of AAR, AUZ and MLS, they all look very similar, I wonder when MLS will test the 10c barrier again? Possible a upgraded resource estimate or positive results from U or Ni.


----------



## ongchuan

Yeah! Good news is out and I cant wait to see it fly like BLR! IT has been sleeping and hibernating for a few weeks and now is the showtime!!!


----------



## ongchuan

Does anyone know why MLS has so many seller queuing up to sell??? Volume is high  but the price just stay between 7 to 7.5 cents. What's wrong with this?


----------



## surfingman

SIGNIFICANT URANIUM MINERALISATION AT THE MILE 72 PROJECT,
ERONGO PROVINCE, NAMIBIA.

Sampling of the calcretes at Mile 72 has generated results of up to 2819 ppm
(0.282%) U3O8.


----------



## Agentm

i was nearly going to buy in yesterday and jump out again on the high today, but decided to stay on with my current position..

news is pretty good, and i hear the news coming up in the next few weeks at MLS are equally going to have some great upside..


----------



## Ken

Did anyone see the sell order @8.2 cents for $92,000?

Thats a fair offloading...

I think its a day traders delight picking off the average punter.


----------



## zaskar

Ken said:


> Did anyone see the sell order @8.2 cents for $92,000?
> 
> Thats a fair offloading...
> 
> I think its a day traders delight picking off the average punter.




Saw that one.  Actually there's been a few large orders - 2 large buy orders over 200k at 8.3 and 8.5.  4 sell orders over 100k in the low 80s and 2 more buy orders over 100k in the low 80s.  Using stockness and tradingroom intraday data.

cheers


----------



## sleeper88

Up she goes, seems like the market is pricing in MLS' uranium tenaments in africa now, now all we need is an announcement on the the nickel projects with ARH, and should get over 10c barrier.


----------



## MiningGuru

Trading strongly! Up to 9c

I think that this will break the 10c barrier in this surge.

Then it is blue sky!

The U announcement is fantastic, and with the Zn drilling this share is worth way in excess of its present share price!


----------



## Caliente

As I'm sure most of you are aware, I love yellowcake, and I love Namibia even more. 

imo best place in the world to mine uranium when all factors are considered. (side note: australia will overtake Nam once the politics dies down here.)

Just got in this morning based on the strength of this announcement on Mile 72 at Erongo (100% MLS owned) - my second time in MLS, lets hope it is as profitable as the last


----------



## sleeper88

MiningGuru said:


> Trading strongly! Up to 9c
> 
> I think that this will break the 10c barrier in this surge.
> 
> Then it is blue sky!
> 
> The U announcement is fantastic, and with the Zn drilling this share is worth way in excess of its present share price!




Lets hope this time there's enough momentum to push it past 10c. I made a heap entering at 2.7c and offloading 8c..bought back at 9.1c, and have been holding till now..lets hope my patience pays off.


----------



## Caliente

Hi sleeper same story here, I bought MLS a long time ago at about 4 cents and hopped off at 8.6 cents. 

The high grade upgrade on Manindi + U is making this one look attractive again.


----------



## sleeper88

Closed 9.5c, massive volume, largest in 6 months, should really test 10c barrier tomorrow, the charts great, this is uranium fever..impressive rockchip samples sent this baby up 28% but impressive drill results at the Manindi deposit does absolutely nothing, but then again im not complaining..just based on fundamentals, MLS has it all, zinc, nickel, uranium..

Its high grade Manindi zinc deposit could be generate significant CF to fund a massive exploration program in Nambia (which were absolutely free). Its greater sherlock bay nickel JV with ARH gives it 30% free carry without spending a single cent..What they need is to rapidly define and upgrade its zinc resources, put it in production..and use the projects free cash flows to hunt down U in Nambia..


----------



## Agentm

it fills you in on how when you mention uranium, the sp goes bluesky.. all uranuim stocks are in the same boat, there is one huge bubble...

nice to see the mls share rocket, i chose to stay on the sideline for this one.. kinda think i should have joined in afterall..

good luck to all holders!!!


----------



## kransky

Been holding mls for ages.. happy to see it finally moving somewhere.. I mean up.. should look good as they keep drilling mandini...


----------



## Caliente

lol at Mandini! 

Hopefully the great Mandini doesnt do a disappearing act on us 


(obtuse Houdini Reference)


----------



## sleeper88

..running hot it is, witt the market down approx 1%..mls held up well in early trading and now it's pushing up against 10c, if it was a up day today..then i can bet my bottom dollar that mls would be past 10c by now.


----------



## Caliente

given the state of the market today - MLS performance has been nothing short of stunning with heavy volume.

Obviously the magic 0.10 aka the 52 week high is the barrier here. 

But I'm predicting that a late afternoon surge will take us there or just past it.

Best of luck to all holders/.
- Cali aka MLS two timer.


----------



## Caliente

about 5 minutes after my post, 10 cents has been reached!

Now things will start to get really interesting... although it would be right to expect a pregnant pause at this stage.


----------



## hitmanlam

hmmm.  Who's willing to take the plunged @ 10.5c.  Volume will stall for now......  I'm not holding.


----------



## hitmanlam

Someone took some profit @ 10c.  Big chunk of shares sold.  Trying to create resistance @ 10c maybe?


----------



## Caliente

hey hitmanlam! so I take it you chose AUZ then?

Good luck with your hold - but my theory at this novice stage of my trading remains that volume is king.

PS - i agree with you that things will stall as we move to 0.5 increments, has happened with every stock I've seen passing through this barrier. But the good ones DO make it, and on a positive note, someone has purchased at 10.5 so we'll see...


----------



## sleeper88

It needs to hold at 10c, then we're in business..impressive day..lets hope the afternoon doesn't disappoint


----------



## hitmanlam

Lol.  Actually got it a minute ago @ 10c.  A decent size parcel too!  Thought id be the last chance to get in before it goes up in increments of 0.5c.  Didn't want to chase it @ 10.5c.  Rule number 1, never chase!  Hopefully support will form @ 10c.  2 reasons i bought

1)  Technically looking good
2)  Involved in the u sector.

Lets see where this one goes.


----------



## Caliente

awesome - great to have you on board.

Looks like you were the last one to get in at 10!

Although the sell side looks ominous, for a volume hitter like MLS it really can disappear in a blink.

btw - what trading plan are you going to use for this one? I might try the double/free carry for the first time if things go well.


----------



## hitmanlam

And look whats happening right now.  Looks like resistance is now becoming support. Buyers queing up @ 10c.  Ppl will have to forced to buy at 10.5c now if they want to get the stock.   Wasn't surprised really after seeing stocks like WMT & AUZ.


----------



## Gundini

Very impressive, locked in with support @ 10 cents... 

Has been a long wait but worthwhile, and on a down day...


----------



## borat

Got in on MLS 6mths ago and have been patiently waiting and it's been well worth it for the last few days  I could feel it coming...
Looking at the chart history I can see a resistance point between 15-16c going back as far as 2000... Would you think being so far back that this has any relevance???


----------



## hitmanlam

Caliente said:


> awesome - great to have you on board.
> 
> Looks like you were the last one to get in at 10!
> 
> Although the sell side looks ominous, for a volume hitter like MLS it really can disappear in a blink.
> 
> btw - what trading plan are you going to use for this one? I might try the double/free carry for the first time if things go well.




Like you, i would probably hold until at least high teens ish. Main thing is probably look for indicators suggesting overbought and sell half my parcel.  Might accumulate more if its oversold.  Don't have a price target cause it limits the profit i can make.  I like to just let my profits run these days.  (Sold WMT @ 22.5c & look at where it is right now.)  But yea, looking for overbought or oversold indicators & taking profits/accumulating at various points.

btw Cal. AUZ is a quality stock.  What tipped me over to MLS was that it was involved in the U sector.


----------



## zt3000

How significant are the Uranium results they released. I know they only released 8 drill holes, so obviously they have more work to do. 

When compaing to Paladin's mine, correct me if i'm wrong, feasibility had a cut off at 0.03% or 300 ppm for mining uranium oxide.

Most of the results MLS handed out were over 300ppm, and one was as high as 2819ppm ....

Does this mean MLS could potentially be onto a significant resource?


----------



## Gundini

Not much depth on the Buy side this morning. If the 5 Mil parcel gets taken out there is bugger all proping it up!


----------



## Wysiwyg

Gundini said:


> Not much depth on the Buy side this morning. If the 5 Mil parcel gets taken out there is bugger all proping it up!





The sellers created a huge resistance after the first rally. Price could only hold or retreat, so effectively the resistance was effective.


----------



## Povesa

I've sold my parcel today on open. Too many sellers. Will watch it closely and probably get back in when it takes off as WMT did


----------



## Caliente

yup - its taking a beating. But when you've got a;

- proven high grade zinc project

- promising U projects in Namibia that is showing good grades

- 30% free carry into a proven 100000t Nickel Project (Sherlock Bay) see 

http://files.aussiehome.com/493/MLS Sherlock Bay Project 3.07.pdf

>>>I didn't know much about the nickel, so just running some quick calcs;

At an EV of 1% for the nickel x .30 (for MLS's carry), you still have a value of 

0.01x0.03x100000x53100(current nickel LME cash buy) = $16m.

I consider 1% EV to be reasonable for in-ground metals.
>>>

I believe a significant appreciation is still on the cards for MLS.


----------



## hitmanlam

Price should hold around the high 9's to 10c.  Will need another announcment to break though resistance of 12c.  Dissapointing really.  Will continue to hold though.


----------



## ongchuan

I think the previous surge is due to overreaction by the market and I think the SP will go back to 7 cents and hold it until the next announcement. Previously, all the announcement doesnt seem to have long effect on the SP. Within days, the SP will retrace back to its initial support which is about 7 cents. Therefore, I think a good entry will be around 7 cents.


----------



## zaskar

ongchuan said:


> I think the previous surge is due to overreaction by the market and I think the SP will go back to 7 cents and hold it until the next announcement. Previously, all the announcement doesnt seem to have long effect on the SP. Within days, the SP will retrace back to its initial support which is about 7 cents. Therefore, I think a good entry will be around 7 cents.




I'm not so sure ongchuan - while you wouldn't pick it from the buy depth, there seems to be a bit of support at 10 cents (or perhaps sellers aren't willing to come down).  Historically the SP has dropped very rapidly after and annoucement, but it seems to be holding up relatively well this time


----------



## Caliente

hi ongchuan - if MLS goes to 7 I'll eat my hat - thats because I wont have money for food!!! (only j/ks)

On a serious note I doubt MLS will collapse to 7. Each to their own.

Tell you what, gentlemans bet - you go for MLS to hit 7 and I'll go for MLS to hit 18. We'll see who wins. 

You should buy some put options so you can profit from your prediction =)
Oh, and if I win - you wont have to pay me a dime, lol!

Cheers
-Cali/.


----------



## hitmanlam

I'd very much doubt it will fall back to 7c.  Not after the announcement about the U prospects.  I think it will more likely consolidate at 10c.  We can see alot of short term support around this price.  Hopefully price holding at 10c with low volume would hopefully lead to a good week next week.


----------



## zt3000

1000000 t of 7% Zn JORC compliant 
= 70000t of Zn

Current Spot price of Zn = $3731 US / t
Aprox = $3059 AUS / t

Total Reserve Value = $214 159 400
# Shares Issued Aprox 650 million

Share Price should be $0.32

MLS is currently 10c.

DYOR!!!!


----------



## hangseng

zt3000 said:


> 1000000 t of 7% Zn JORC compliant
> = 70000t of Zn
> 
> Current Spot price of Zn = $3731 US / t
> Aprox = $3059 AUS / t
> 
> Total Reserve Value = $214 159 400
> # Shares Issued Aprox 650 million
> 
> Share Price should be $0.32
> 
> MLS is currently 10c.
> 
> DYOR!!!!




The share price can't be valued on the in ground value. That would Make AAR valued at $4.00 with an almost US$2b Jorc compliant resource at Koongie Park, which is obviously incorrect. 10-20% of that value is a better (but still inaccurate) back of the envelope method of calculation.


----------



## deftfear

zt3000 said:


> 1000000 t of 7% Zn JORC compliant
> = 70000t of Zn
> 
> Current Spot price of Zn = $3731 US / t
> Aprox = $3059 AUS / t
> 
> Total Reserve Value = $214 159 400
> # Shares Issued Aprox 650 million
> 
> Share Price should be $0.32
> 
> MLS is currently 10c.
> 
> DYOR!!!!




Also $3731 is closer to about $4,500 AUD  so that gives closer to a $350,000,000 inground resource. That values the shares at 49cents, at the current price the market cap is 20% of the inground value at mandini. This doesnt take into account the nickel and uranium projects though.


----------



## HOT STOCKS

Hot of the presses, so to speak! 
After speaking with Metals Australia’s (MLS) Exploration Manager, Timothy Putt today, I feel more confident that Metals Australia will perform very well overall. In regard to the Phase 1 drilling at the Manindi Zinc Project so far, Tim described the results as “real mind blowing and shallow at depth”. Tim said, “Further lab results from the Phase 1 drilling program will be announced within a week or two.”
When asked if the grades from the drilling were expected to be high Tim said the grades were expected to be “pleasant, nice, high-grades.” When I asked when Phase 2 would begin Tim said, “Between drilling and the lab tests there is a four week turn around.”

Metals Australia (MLS) website:
http://www.metalsaustralia.com.au/

8th May 2007
High-grade zinc mineralisation at the Mulgara prospect, Manindi zinc project:
http://files.aussiehome.com/493/MLS%20Announce%2008.05.07.pdf

Tim said, _“The real wild card is Namibia”_ with the drill reporting. He said he has an experienced uranium exploration team set up in Namibia and he will be hearing from them next week in regard to further ground radiometric exploration and drill reporting. Announcements will made “updating the market as work progresses on the Mile 72 & Engo Valley project areas”.

10th May 2007 
Significant uranium mineralisation at the mile 72 project, Erongo Province, Namibia:
http://files.aussiehome.com/493/ASX%20Announcement%2020070510.pdf

Tim said, “Metals Australia has a 30% interest in the Sherlock Bay Nickel Project with Australasian Resources Limited (ARH) with 70% interest and they are very good operators and the relationship is very good. It is a good deal with good potential for both Metals Australia and Australasian Resources. That’s where the Chinese connection is for Metals Australia, it’s with Australasian Resources.”

18th May 2007
Australasian Resources Limited (ARH) Market Update:
Sherlock Bay Nickel Project:
http://clients.weblink.com.au/clients/metalsaustralia/article.asp?asx=MLS&view=6362244

Australasian Resources Limited (ARH) website: 
http://www.sbnc.com.au/

Forward speculation: 
Prior to any possible significant announcements, I believe the share price could possibly consolidate slightly this week on low volume before rising up to and passing the previous high of $0.120 that was reached on Monday 14th May 2007. 
When considering the large volume of shares traded recently and the long 5 month positive triangular consolidation period between December 2006 and May 2007 leading up to the recent share price increasing from $0.074 to $0.120 between the 7th and 14th May 2007, it would not be hard to imagine the share price rising to the all time high of $0.170 in a relatively short time and continuing onwards and upwards, especially in light of all the positive announcements and the increasing share price and volumes traded.

The chart of Metals Australia (MLS) seems to me to be trailing a very similar path to that of Australian Mines (AUZ) that today, Monday 21st May 2007 skyrocketed from $0.135 to $0.180 after the announcement of a significant drilling report and possibly because of a number of other recent positive announcements. In regard to Metals Australia (MLS), in my humble opinion, perhaps the uranium “wild card” of Namibia and any near future announcements may hold the key to the square and compass. 

I thanked Tim for his time and that I appreciate his time very much. Tim said, “If you have any other questions, don’t hesitate to call.” I said okay, thank you. I thanked Tim again and we hung up. 

Kind regards, HOT STOCKS.


----------



## Caliente

hi - just had a read there. Thank you for going to the effort of outlining your discussion with the director. 

Just a quick aside - what was your *impression *of the director?

I find that directors are highly *unlikely *to speak *negatively *on their stock - so it comes down to reading tones. 

Did his positivism like irrational confidence, quite confidence, optimism, hope?

And also - what was your impression of his technical knowledge/expertise?

Cheers
-Cali/.


----------



## HOT STOCKS

Caliente,
Thank you for your question. It is my understanding that Timothy Putt is the exploration manager for Metals Australia (MLS) and I am not sure that makes him a director. I have spoken with Tim before, possibly in March 2007 when the share price was around $0.065 just before the recent share price increase up to $0.12 on the 14th May 2007. On both occasions my impression in talking with Tim on the phone is that I found him to be very pleasant and professional in every way. Tim has a great knowledge of all the different aspects of the mining business, including technical knowledge and expertise. He has many important contacts within the mining industry that is the result of years of experience. Tim was able to effortlessly answer any of the relevant questions I had in regard to Metals Australia (MLS) and he did so calmly and in a professional manner. I would describe Tim as an intelligent and confident leader within a team situation. Importantly, I have spoken with Tim twice now and on both occasions he has been very generous with his time and knowledge.
Lastly, Tim did recommend investing with a long-term view.

I hope that you find this information useful.

Kind regards, HOT STOCKS.


----------



## Ruprect

Good work Hot Stocks.

Just my opinion here, but the oppies in MLS look incredibly undervalued in comparison to the share. Option code - MLSOA

Expiry September 2009, exercise price of only 5cents. Last price, 5 cents. SP is 9.8 cents. That puts the oppies at only a .002 premium to the sp.

For a 2.5 year expiry, and an ex price of 5 cents, i would expect that the oppies should trade at a premium to the sp, of somewhere between 1-1.5c.

But, with these things, the market does eventually correct itself, as it did with RML and BYR.


----------



## wallave

Nice post Hot Stocks. 

Thanks for taking the time to post your thoughts of your conversation.  I think MLS may be one to put in the bottom draw for 6-9 months and then look and see it 2-3 times the price at the moment. (heres hoping anyway).


----------



## MiningGuru

Announcement!

High Grade Zinc!

23 May 2007
The Manager - Companies
Australian Securities Exchange Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000

HIGH-GRADE ZINC MINERALISATION AT THE KULTARR PROSPECT,
MANINDI ZINC PROJECT.

HIGHLIGHTS

·  Significant results at Kultarr (Zone D Nth) include:
MND 032 18.15 m @ 10.72% Zinc from 122.0 metres.
Including 3.00 m @ 27.57% Zinc from 122.5 metres.
And 2.00 m @ 16.30% Zinc from 133.1 metres.
·  Kultarr shows significant zinc mineralisation over substantial widths within the ore
body.
·  Infill and extensional drilling at Kultarr continues to intersect significant economic
mineralisation.

Metals Australia Ltd (‘Metals’) is pleased to announce that the results from the first diamond drill
hole at the Kultarr prospect have been received. The diamond drilling programme at Kultarr (Zone
D Nth) is designed to infill on the existing drilling pattern, as well as the testing the extensions of
the ore body.

Kultarr is the largest of the four resource areas at Manindi, currently with a JORC compliant
resource of:
603,130 tonnes @ 7.66% Zinc*

*It should be noted that the above resource figure was calculated in 2000 and does not include the extensions to the
mineralisation delineated through drilling undertaken in 2006-2007.

Drill hole MND 032 was designed to intersect the ore body at depth in order to provide drill core to
assist in the ongoing programme of metallurgical test work being undertaken by Metals Australia
Ltd. This drill hole successfully intersected significant economic zinc mineralisation over a
substantial width, with results including:
MND 032 18.15 m @ 10.72% Zinc from 122.0 metres.
Including 3.00 m @ 27.57% Zinc from 122.5 metres.
And 2.00 m @ 16.30% Zinc from 133.1 metres.

Drilling continues at Kultarr, with geological logging indicating that a number of drill holes, both
along strike and at depth, have intersected sulphide mineralisation over significant. The assays
for these drill holes are pending and will be made available as soon as they are received and
evaluated by the company.

Metals Australia looks forward to announcing further results of the drilling at Kultarr (Zone D), as
they become available.

Yours faithfully,
Norman Grafton
Company Secretary
Metals Australia Ltd
Competent Person Declaration
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on
information compiled by Timothy Putt of Exploration and Mining Information Systems, who is a member of The
Australasian Institute of Geoscientists. Mr. Putt has sufficient experience that is relevant to the style of mineralisation and
type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined
in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”.
Timothy Putt consents to the inclusion in the report of the matters based on his information in the form and context in
which it appears.
For further information please contact:
David Zukerman, Director or Tim Putt, Exploration Manager Phone (08) 9481 7833
Or consult our website:


----------



## HOT STOCKS

Ruprect,

Thank you for your comments. I do appreciate quality feedback. 
I find your opinion very interesting that the “oppies in MLS look incredibly undervalued in comparison to the share.”
At this point my knowledge of options trading is very limited and I don’t completely understand the full implications of your opinion. I had a brief look at the charts of MLSOA and RMLOA.
At first glance apart from the appearance of slightly more volatility the MLSOA chart seems to be closely following the pattern of the share price movements. 
I agree with your opinion that “the market does eventually correct itself, as it did with RML and BYR” as I believe that opinion strongly relates to the natural repetitive patterns that occur throughout the share market. See Elliot Wave Theory. 

Kind regards,
HOT STOCKS.


----------



## HOT STOCKS

Wallave,
Thank you for your comments. I agree with your opinion that “MLS may be one to put in the bottom draw for 6-9 months and then look and see it 2-3 times the price at the moment. My opinion in the short-term is that there is another wave approaching within the short-term. I base my opinion on the recent consolidation of the Elliot Wave Theory pattern and on the Timothy Putt’s “mind blowing” Manindi high-grades at “shallow-depth” that was “coming along” so far and possibly further similar result to be announced “in the next week or two” from the lab. Plus the “wild card is Namibia” where Timothy Putt will be “hearing from the team next week.”
My opinion is that between $0.095 and $0.100 represents a good entry price window. Timothy Putt was of the opinion that $0.098 was a “good price” to buy the MLS shares at the moment as of …

Hang on…an announcement just came through entitled, “high-grade mineralisation at the Kultarr Prospect, Manindi zinc project!” This is great news that has appeared with perfect timing and the share price jumped up immediately which is a very good sign! My opinion is that this is the start of the next Elliot Wave, right now as I am typing. 

Metals Australia (MLS) price and volume last traded: 
Wednesday 23rd 2007 at 12:25:11 PM
Price: $0.1050
Price up: 10.5263%
Volume: 34,628,451
Number of trades: 408 
Low price: $0.0950
High price: $0.1150

“Drilling continues at Kultarr, with geological logging indicating that a number of drill holes, both along strike and at depth, have intersected sulphide mineralisation over significant. The assays for these drill holes are pending and will be made available as soon as they are received and evaluated by the company.”

“Metals Australia looks forward to announcing further results of the drilling at Kultarr (Zone D), as they become available.” 

Metals Australia MLS announcement
23rd May 2007 11.04am
http://www.asx.com.au/asxpdf/20070523/pdf/312ldrnlzlcjh7.pdf

My opinion is that more significant announcements will follow, possibly within the next two weeks and the share price will increase, especially after the recent consolidation. My opinion is that the share price could easily jump up 30% or more one or more if one or more significant announcements are made by Metals Australia in the next two weeks, especially any announcements in regard any further high-grade uranium results at Mile 72 in Namibia. 

Kind regards,
HOT STOCKS.


----------



## Ruprect

HOT STOCKS said:


> Ruprect,
> 
> Thank you for your comments. I do appreciate quality feedback.
> I find your opinion very interesting that the “oppies in MLS look incredibly undervalued in comparison to the share.”
> At this point my knowledge of options trading is very limited and I don’t completely understand the full implications of your opinion. I had a brief look at the charts of MLSOA and RMLOA.
> At first glance apart from the appearance of slightly more volatility the MLSOA chart seems to be closely following the pattern of the share price movements.
> I agree with your opinion that “the market does eventually correct itself, as it did with RML and BYR” as I believe that opinion strongly relates to the natural repetitive patterns that occur throughout the share market. See Elliot Wave Theory.
> 
> Kind regards,
> HOT STOCKS.




Sure, as im sure you know, in simple terms options give you the opportunity to buy a particular share at a designated price. Because they arent techincally a share, and you still have to pay money to aquire the share,  they arent going to be worth as much as the share itself. 

In MLS case, the share closed today at 10.5c, the options closed at 5.5 cents. The price to excercise the option, ie to buy the share is 5 cents. 5.5cent option cost + 5 cent ex price = 10.5cents. 

The value in them lies in the fact that you can purchase a whole lot more of them than the share for the same outlay. In this case a $1000 outlay would get you 9523 shares, but 18181 options. And, as you stated, the option will theoreticaly follow the movement in the share price. If MLS moves up 1 cent, then so should the options. Doesnt always follow exactly, but its always close. Therefore your return for your investment is going to be much greater with 18181 than 9523.

The reason MLSOA are undervalued IMO is because options should, by their very nature trade with a premium attatched. That is, because they are cheaper to buy, and the rewards can be greater, they are more sought after. Those with long times to expiry should have more of a premium included, with the premium decreasing over time.

Exchange traded options list with a premium attached, company traded options such as MLS are often different, given at placements etc at a discounted price. It can take the market a while to adjust, but adjust it usually does.

The value in MLSOA is that as of today, they are trading WITHOUT a premium, and over time that premium will be included. Just my opinion of course!


----------



## zt3000

If there wasn't so many shares on issue there would be a greater price movement to the announcements being made. Its finding it hard work breaking 11.5c .....


----------



## Wysiwyg

zt3000 said:


> If there wasn't so many shares on issue there would be a greater price movement to the announcements being made. Its finding it hard work breaking 11.5c .....





We`ll have to get them `ol wittlin` sticks out and start a wittlin`. 

Not me though. Sold when the flashing lights,roadblocks and stop signs were put up.lol.


----------



## zt3000

Good Little Article - near the bottom is MLS relevant!

http://www.mineweb.net/mineweb/view/mineweb/en/page66?oid=21357&sn=Detail

"Three Australian zinc hopefuls get high grade drill hits
Three Western Australian junior companies this week reported high grade zinc drill intersections to give hope for a boost in this vast mining state’s limited zinc production.

Author: Ross Louthean 
Posted:  Thursday , 24 May 2007 "


----------



## Craze0123

wow, already traded 20m+ (11:03am), no announcement yet though. It's gonna be a good day for MLS....It's been coming


----------



## rub92me

Yep, it's looking like a day traders' frenzy today. I hope the volume keeps up with a nice close around this level. As pointed out before: awful lot of shares floating around so plenty of churn before this will get past 12 cents. Oh well, up already so time's on our side..


----------



## rub92me

Looks like daytraders went for a long lunch and never came back  Reasonable close though, so not all bad. Another 40 million shares churned above 10 cents, which will help provide some resistance around that level.


----------



## Craze0123

A single buyer with 2m shares at 10.5 really late...something must be going down soon ;D, hopefully tomorrow is the day.


----------



## Craze0123

wow, I have absolutely no idea what is going on with this stock. I have been watching some of the other similar ones and none are doing anything like this....totally confused ;D.


----------



## zt3000

Craze0123 said:


> wow, I have absolutely no idea what is going on with this stock. I have been watching some of the other similar ones and none are doing anything like this....totally confused ;D.




Mee too 

This stock just needs to grow some balls so to speak and just run ..... eagerly awaiting next uranium announcement. SP went ballistic after last one


----------



## Craze0123

new announcement just went up,

Extensive Radiometric Anomaly at Engo Valley Namibia 

EXTENSIVE RADIOMETRIC ANOMALY AT THE ENGO VALLEY
URANIUM PROJECT, KAOKELAND, NAMIBIA.
HIGHLIGHTS
·  Work has commenced on the Engo Valley, Metals Australia’s second uranium
project in Namibia.
·  Airborne radiometric traverses of the Engo Valley palaeochannel have defined
significant anomalism associated with Karoo sediments.
·  A 14 square kilometre radiometric anomaly, with a strike length of over 7
kilometres, has been identified at Engo Valley.
·  This extensive radiometric anomaly warrants further exploration.
Metals Australia Ltd (‘Metals’) is pleased to announce that a review and interpretation of the exploration
data for its second uranium project in Namibia, Engo Valley (100% MLS), has highlighted a significant
radiometric anomaly within the Engo Valley palaeochannel. The source of this data was a radiometric
survey flown by General Mining & Finance Corporation Ltd (‘Gencor’) in the 1970’s.
The Engo Valley project, which has had little or no exploration in the last 30 years, shows strong potential


----------



## Lachlan6

(MLS) looks fine from a technical perspective. Just consolidating now around a crucial level of support around $0.095. This should provide a nice level of support and a platform for a challenge of breaking into new highs. Interestingly, this level also coincides with an important fibonacci level from the March lows to May high. Volume is not big at the moment due to this consolidation, but if new highs are hit, I have a feeling this will run much higher.


----------



## MiningGuru

Wow! Announcement just out.

11km of Uranium in Namibia. Fantastic news!

Once this gets digested this share, IMO will churn through all the sellers and reach new highs very soon. I think it will blast through resisatance levels and get uo to 15c+ very soon.

The U and the Zn deposits are very encouraging.


----------



## Wysiwyg

MiningGuru said:


> Wow! Announcement just out.
> 
> 11km of Uranium in Namibia. Fantastic news!
> 
> Once this gets digested this share, IMO will churn through all the sellers and reach new highs very soon. I think it will blast through resisatance levels and get uo to 15c+ very soon.
> 
> The U and the Zn deposits are very encouraging.




Not in , love watching the standoffs between the hardcore sellers and the bulls.Funny how each stock has it`s own personality.Sell for less I reckon , lol.


----------



## sleeper88

Wysiwyg said:


> Not in , love watching the standoffs between the hardcore sellers and the bulls.Funny how each stock has it`s own personality.Sell for less I reckon , lol.




Its a good annoucement, but to really get a move on, they need to start drilling its U prospects, which could still be a long time away. Its funny how impressive zinc results have no effect on this stock, and U count readings send this one back to 10c. I think we're looking at a substantial upgrade in the resource of the minidi zinc project, and early cashflow from this project will really get the U exploration program going. Those sellers from 10.5 to 12c are blocking my road to riches!!


----------



## Royce

MLS has had 3 good announcements in the last month and the share price has remained stagnant... a lot of volume required to break the wall of sellers 
lined up at 10.5 and 11 cents.

Its going to have to be a huge announcement.

Royce


----------



## chris1983

I'm onboard.  This stock has a lot of reasons which told me to buy it.  They will be working on an upgraded resource.  See below.

_"Metals Australia Ltd (‘Metals’) is pleased to announce that a comprehensive diamond drilling programme at Manindi is now complete. The diamond drilling programme was designed to test the extensions of the existing resources and allow an upgraded resource to be calculated."_

That is a section from the last announcement "Manindi Zinc Project Continues to Exceed Expectations"

Now from the BBY broker report on the 25th of January 2007.

_Recent drilling of EM targets has been very successful which is forecast to lead to an upgrade in the resource base which currently sits at 1.05Mt @ 7.64% Zn. Resources lie within 4 zones of mineralisation to a maximum depth of only 200 metres. Considerable scope exists to find additional resources along strike and depth as confirmed by downhole EM studies which indicate the presence of further mineralisation at depth._

Now from the latest announcement in regards to their Zinc project

_"*RESOURCE MODELLING*
The current Manindi Zinc deposits represent a substantial zinc resource, with excellent potential for increases in both tonnage and grade. The previous owners of the project last calculated the resource in 2000. Metals Australia has since completed in excess of 7500 metres of RC and Diamond drilling, which has yet to be included in the resource calculations. The drilling undertaken by Metals has increased the physical size of the resources, both along strike and at depth. The recent drilling has frequently intersected high-grade zinc mineralisation in each of the deposits, which have additionally shown ore grade copper and gold mineralisation."_

How big will this resource be?  It has been extended along the strike and at depth.  The past resource also didn't include copper and gold mineralisation.  The resource upgrade will be big IMO.  If you go through past announcements they have had significant hits when expanding this resource.  Now that the drilling campaign is over..it is time for me to take an entry with a longer term view.  I have held MLS previously but traded them for profits.

A good comparison is JML and their Jaguar deposit.  See Jaguar deposit resource below.

*Reserve 1.6mt @ 3.1% Cu,  11.7% Zn,  0.72% Pb,  120g/t Ag*

Now The Jaguar deposit is an underground mine. This will be a lot more expensive to operate that the operation that would take place at MLS's Manindi project.  Their project will be open cut and will have cheaper operating costs.  Jabiru now has a market cap of 620 million.  Yes they are closer to bringing on a mine but MLS is leading down the same track..it is just at an earlier stage.  MLS is looking to be a very attractive buy atm.

When you throw in their uranium prospects in Namibia...where they have recently defined 11km of uuranium mineralisation at its Mile 72 project in Namibia they are a good spec play to me with a market cap of just under 60 million.  See breakdown of shares on issue below.

*MLS: 669,608,765 
MLSOA: 106,150,000*

Fully diluted market cap is just over 69 million and to the end of march in their last cashflow report they had just under 6 million at bank.


----------



## ands

She certainly jumped on Thursday, anyone know when the next drilling results are coming out? I can't believe it is stuck at 9 cents, that zinc project is looking better all the time and the early Uranium results from Africa look very promising. Patience will be the key.


----------



## powerkoala

does anyone follow this?
5 minutes before closing, this sp jump from 8.9c to 9.4c.... 
big buyers seems to know something...
close high now at 9.7c....
must be something happenning tomorrow...
any thought?


----------



## Horace

Double digit % gains on 25M volumes last week and again today on 10M volumes, someone is buying, good to see potential progress with MLS


----------



## Caliente

hhaha, before you guys get too excited don't forget the great wall of MLS - as you well know it will take buying of epic proportions to break through it.

- I hold.


----------



## idaho

This appeared to be a planned lightning raid from about 3:50 pm.  It required less volume than most previous spikes to make these gains. The selling has been steady since about june 6 in spite of some good announcements. A lot of stale holders have exited.They are due for ann. regarding zinc assays. Last assay results announced included some gold intersections. Historical drill cores had apparently not been assayed for gold. They are also expected to update the market re their two uranium prospects in Namimbia "any time". I think part of the "great wall of MLS" has tumbled down during recent sell-off. It's rubble is now forming part of the foundation that will  allow in-coming buyers to overcome the resistance and move the share price to new heights. I took a small profit on one third of holding on way down. Held rest through sell-off (which i partly credit to general sell-off of U stocks). My opinion is the office cleaner bought today. Glad I'm holding.


----------



## Wysiwyg

If an announcement/report/update or the like comes out tomorrow (wednesday)it will prove that some people are privvy to  information before the general public.Lets see.


----------



## Horace

I think that is a given, no announcement today volumes still almost 14M, annnouncement soon???


----------



## ands

Are people simply speculating or are there some people who know more then everyone else? After the strong drilling results last month and more due in the near future, there might be some from both sides.


----------



## rub92me

Big volume for this stock means more than 80 million shares traded a day. That hasn't happened for a while. Everyone that is following this stock knows that there are announcements coming (aren't there always?). The Uranium stuff is too early to be meaningful, the rest is wait and see. So I'll wait. As long as it is not going down and not hitting my stop.


----------



## gilbertw

rub92me said:


> Big volume for this stock means more than 80 million shares traded a day. That hasn't happened for a while. Everyone that is following this stock knows that there are announcements coming (aren't there always?). The Uranium stuff is too early to be meaningful, the rest is wait and see. So I'll wait. As long as it is not going down and not hitting my stop.




I don't see 80 million traded in the last 5 days for MLS... could you elaborate on this please?
cheers


----------



## sam76

chris1983 said:


> I'm onboard.  This stock has a lot of reasons which told me to buy it.  They will be working on an upgraded resource.  See below.
> 
> _"Metals Australia Ltd (‘Metals’) is pleased to announce that a comprehensive diamond drilling programme at Manindi is now complete. The diamond drilling programme was designed to test the extensions of the existing resources and allow an upgraded resource to be calculated."_
> 
> That is a section from the last announcement "Manindi Zinc Project Continues to Exceed Expectations"
> 
> Now from the BBY broker report on the 25th of January 2007.
> 
> _Recent drilling of EM targets has been very successful which is forecast to lead to an upgrade in the resource base which currently sits at 1.05Mt @ 7.64% Zn. Resources lie within 4 zones of mineralisation to a maximum depth of only 200 metres. Considerable scope exists to find additional resources along strike and depth as confirmed by downhole EM studies which indicate the presence of further mineralisation at depth._
> 
> Now from the latest announcement in regards to their Zinc project
> 
> _"*RESOURCE MODELLING*
> The current Manindi Zinc deposits represent a substantial zinc resource, with excellent potential for increases in both tonnage and grade. The previous owners of the project last calculated the resource in 2000. Metals Australia has since completed in excess of 7500 metres of RC and Diamond drilling, which has yet to be included in the resource calculations. The drilling undertaken by Metals has increased the physical size of the resources, both along strike and at depth. The recent drilling has frequently intersected high-grade zinc mineralisation in each of the deposits, which have additionally shown ore grade copper and gold mineralisation."_
> 
> How big will this resource be?  It has been extended along the strike and at depth.  The past resource also didn't include copper and gold mineralisation.  The resource upgrade will be big IMO.  If you go through past announcements they have had significant hits when expanding this resource.  Now that the drilling campaign is over..it is time for me to take an entry with a longer term view.  I have held MLS previously but traded them for profits.
> 
> A good comparison is JML and their Jaguar deposit.  See Jaguar deposit resource below.
> 
> *Reserve 1.6mt @ 3.1% Cu,  11.7% Zn,  0.72% Pb,  120g/t Ag*
> 
> Now The Jaguar deposit is an underground mine. This will be a lot more expensive to operate that the operation that would take place at MLS's Manindi project.  Their project will be open cut and will have cheaper operating costs.  Jabiru now has a market cap of 620 million.  Yes they are closer to bringing on a mine but MLS is leading down the same track..it is just at an earlier stage.  MLS is looking to be a very attractive buy atm.
> 
> When you throw in their uranium prospects in Namibia...where they have recently defined 11km of uuranium mineralisation at its Mile 72 project in Namibia they are a good spec play to me with a market cap of just under 60 million.  See breakdown of shares on issue below.
> 
> *MLS: 669,608,765
> MLSOA: 106,150,000*
> 
> Fully diluted market cap is just over 69 million and to the end of march in their last cashflow report they had just under 6 million at bank.




We've been waiiting for what seems an eternity for this long awaited JORC upgrade.

Meanwhile the share price has tanked to the somewhat shaky support level of 6cents.

Is anyone else on this?

I jumped on last week as the upside seems to be huge, especially with some of those zinc grades.


----------



## Gecko1

I bought into MLS last October at 2.5 cents and am placing this stock in the bottom draw for the next few years....i'm just thinking of what Paladin Resources was a few years ago, and i like the MLS story and am not missing out this time...


----------



## MiningGuru

Share price has spiked a bit today, up .8c to 7c, and moved up a bit Friday. 

Volume high today so far at around 8 million shares

What is going on?

Do insiders know something or is this just a recovery from the recent correction?


----------



## wipz

Good movement today, however I am really in the dark on this one.. Its great to recover some of my losses but would love to know what is going on.  If anyone has any information please share


----------



## greenfs

You will see from the above chart that all is looking good with MACD and DMI indicators. It may be just that this share is recovering after the August correction with buyers outnumbering sellers.


----------



## MiningGuru

Announcement Out

Metals Australia Ltd (‘MLS’) is pleased to announce the following results from the Mile 72 uranium project:

·  Geochemical sampling through the KUDU and IMPALA prospects continues to return high-grade uranium assays from the gypcrete and bedrock sampling, with the majority of the assays being ‘ore-grade’.

·  Sampling at the KUDU prospect generated a number of high-grade assays of up to
0.315% U3O8.

·  Alaskites sampled in the southern project are mineralised and indicate a larger primary mineralised system at depth.

Fantastic results. This share should start moving now!


----------



## powerkoala

does anyone still following this?
nice run on the news today.
trying to break 9.5c resistance.
now at 9.1c.
great uranium samples though.
will it break previous high ?
good luck all holders


----------



## Gecko1

Massive grades;closed 9.1c - nice - who said the PDN story could not happpen again. If management steers this one correctly, long-term holders should be very well rewarded.

Cheers to long-term holders


----------



## adobee

Strong increase today and a fair volume.. I was alerted to this as a potenial buy yesterday.. Now I am not sure if I should jump on with big things ahead or wait for a lower price again..


----------



## vert

this is not advice but i think if you can get on under 0.10 you would be fairly lucky, there is a possibility with what i believe are cappers holding this up @ 0.105 and 0.11, if they disappear then its going to run.

good luck


----------



## jonojpsg

These really are unbelievable results!!! 

I can't recall seeing a result from other uranium hopefuls or producers at 23000ppm!!??  

Can anyone else following U back that up??


----------



## Agentm

plenty of action still to come on this share imho..


been in and out of it a little.. just remember to look closely at SBR.. tightly held share (I know my exit wont be for some time to come there) 

enjoy the rewards if you have held this one for a while..


----------



## adobee

Activity Report Out - 

HIGHLIGHTS
MILE 72 NAMIBIA
·  The first phase of geochemical and geophysical surveying has now been
completed at Mile 72.
·  Trial pit sampling at the Kudu prospect at Mile 72 has resulted a number of
outstanding assays including:
M72 KDUP 001 5, 329 ppm (0.53%) Uranium Oxide
M72 KDUP 002 23,113 ppm (2.31%) Uranium Oxide
M72 KDUP 004 9,639 ppm (0.96%) Uranium Oxide
·  Trenching has now commenced at Mile 72, testing the Kudu and Impala prospect
areas.
MANINDI ZINC PROJECT
·  Geological modelling of the Zone A and B ore bodies shows a ‘multi-lode’
envelope with strong potential for additional resource tonnage in parallel positions
to the main lode.
·  The second phase of diamond drilling at Zone A delineates significant near surface
zinc mineralisation including:
MND 049 16.90 m @ 11.82% Zinc, 0.61% Copper and 9.69 gpt Silver
from 24.00 metres.
·  Modelling has identified the poorly explored Bandicoot prospect, to the south of
Zone A, as a priority drill target


----------



## adobee

20 million shares so far today and a strong increase.. I have been hearing suggestions that now is the time to get on MLS as there are big things coming..  Maybe other people have heard the same..


----------



## ands

This one has sure gone quiet, not the usual recovery up to the 7c mark after a fall in the market despite a 30% increase in the Manindi Zinc Project (now at 81,500 tonnes of zinc, 1,354,129 @ 6.03% Zinc). I guess patience is the key with this one!


----------



## white monkey

MLS up a lazy 130% at the moment on the back of a massive announcement!                                      this is turning out to be a very good day!


----------



## ands

Yep, huge volume, nice price rise. Looks like buyers who might have been hesitant about the new Mile 72 Uranium Project are seeing potential in it from some nice results, early days yet, hopefully more to come.


----------



## redback

This stock has nearly lost all it's gains now, needs proper management not part timers, as the market has clearly discounted this lot who just can't get anything going, fancy taking 6 years to announce a piddly uneconomic jorc., these people are only there for easy wages, shift them out.


----------



## jancha

Anyone following this company? Would like to kow why the sudden jump in volume without ay ann. Any thoughts on it?


----------



## Horace

They had some leases that were being contested in Namibia for U, not sure if someone knows something that hasn't been released to the market, should be close to some sort of resolution or some announcment soon.


----------



## ems

What are peoples views on this one at the moment? With the outcome of the tenement court case in Nambia coming soon..could this be on the up?


----------



## Horace

I would like to think that an outcome favourable to MLS would see some adjustment up on the SP, a lot of time wasted here and not much to read about with MLS, needs good news soon!!


----------



## travwj

MLS up 1c today or about 25%. Volume was up as well. No news has been released so it is hard to understand why such a price rise. But there will be no complaints here. See how it opens on Monday i think the next resistance will be at 5c and hoping to get support a 4c... see how this turns out.

Trav


----------



## travwj

Whats going on with this stock...closed at 0.025 today. if anyone could have a reason for it having such a quick slide down from the highs of 0.044 a couple of weeks a go to where it is now please inform me. Still waiting to here what happened what has happened with the court procedings.

Any help or news much appreciated.

Trav


----------



## buzz05

Trading halt pending an announcement next week.

No doubt there will be some news regarding the leases in Namibia, hopefully some good news as this has been dragging on for a while now.


----------



## ands

*Ann out not good for holders:*

-------------------------------------------------------------------------

The Namibian High Court has now handed down its judgment in relation to the claim by the vendor for the return of Metals Australia’s Exploration Prospecting Licences 3306 and 3308.

Judgment has been issued in favour of the vendor of the tenements.

The Board of Metals has a number of concerns with the judgment, and has sought and received further legal advice that there are strong grounds for an appeal of the judgment.

Accordingly, an appeal has now been lodged in the Namibian Supreme Court against the judgment. An appeal automatically suspends the operation of the judgment pending the outcome of the appeal, and, as such, the Minister of Mines and Energy is thereby prohibited from transferring the tenements back to the vendor pending the outcome of the appeal.

Metals will keep the market informed as the appeal proceeds.

-------------------------------------------------------------------------

How do you spend years drilling a tenement, only to lose it when the owner of the land wants it back? Is the legal system over there corrupt? Could the owner be a friend of the judge? Or has Metals Australia just not taken the correct process to ensure this problem wouldn't arise? Other companies exploring over there will have to start looking over this shoulder for this problem. If this guy can get away with it, I'm sure others can. This might be setting a precedent for the future. Out of trading halt tomorrow, SP will suffer...


----------



## Datsun Disguise

oh boy - country risk eventuated.....  The only hope here is that the appeals court judge doesn't belong to the same gentlemens club that the High Court judge  does - but given that this is the high court that is hardly likely!! Best outcome would be the decision is overturned, good outcome is the conditions of the sale are renegotiated, worst is MLS gets shut out completely.... gulp.

Criminal that this can happen and in the long run it only hurts the entire country, not that these well connected fat cats give a flying fat rats left testicle about the rest of the country, they all stand to profit richly and so that is enough.


----------



## qeegbill

Datsun Disguise said:


> oh boy - country risk eventuated.....  The only hope here is that the appeals court judge doesn't belong to the same gentlemens club that the High Court judge  does - but given that this is the high court that is hardly likely!! Best outcome would be the decision is overturned, good outcome is the conditions of the sale are renegotiated, worst is MLS gets shut out completely.... gulp.
> 
> Criminal that this can happen and in the long run it only hurts the entire country, not that these well connected fat cats give a flying fat rats left testicle about the rest of the country, they all stand to profit richly and so that is enough.




Looks like the case has now been won by MLS.  The Supreme Court upheld the appeal.  The former owner of the EPL's Amukutuwa 's solicitor Kasuto has since lodged a "Notice of Irregularity" in which it seems he attempted to bring to the attention of the Chief Justice that the court process was flawed.  Metals Australia's Advocate described the notice as a "nullility" i.e. meaningless.   My understanding is that the Supreme Court ruling is final.  (see "The Namibian" 10.11.2010,etc).  Perhaps all doubts will be resolved this week.

I am a MLS holder


----------



## qeegbill

There isn't any interest in MLS on this forum.  They deserve another look.  They have begun exploring on their Mile 72 tennement for uranium.  Trenching revealled high grade secondary mineralisation (calcrete) and high grade primary mineralisation (alaskites).  The latter was up to 12 m at over 1000 ppm.  The Radon XTM cup technique measures a daughter product of uranium decay.  The readings can only be generated by the radioactive decay of uranium.  The announcement 29.11.2011 included the following summary of RadonXTM results:
"Table 1 – Comparison of RadonXTM radon cup survey results at Mile 72 and Husab (RÃ¶ssing South)
Mile 72                        Husab (formerly RÃ¶ssing South)
Survey parameters
No. samples
1,114                           ~470
Cup spacing
100 m                           50 - 100 m
Line spacing
300 m                           250 m
Survey area
31.5 km²                      ~9 km²
Results
Maximum value
42,935 RnV                   5,735 RnV
Minimum value
18.1 RnV                       314 RnV
Median value
2,362 RnV                     1,600 RnV

RnV = Radon Value, which represents counts of 222Rn recorded during the course of the survey.

Comparison of the Mile 72 RadonXTM survey results to those from Husab (Table 1) shows that the anomalies at Mile 72 are larger and more intense than those at Husab."

The RadonXTM results are indicative of mineralisation down to 100m.

ANY THOUGHTS?

I am a mls shareholder


----------



## frugal.rock

qeegbill said:


> There isn't any interest in MLS on this forum. They deserve another look.




A real popping festering canker yesterday based off a lithium/rubidium announcement then straight into a trading halt this morning for a cap raise.






Not sure if it's worth a further look, 2.5 cents in 2009. 
Time will tell.  Haven't looked at FA side.


----------



## frugal.rock

Misfiled this one... It's now in the 2nd lithium watchlist as the first one is fool...
 Can someone please shoot me? 😩


----------



## greggles

MLS still going great guns today, but has pulled back a little bit after making a run at 20c. It has clearly been re-rated this month, but does anyone have any idea as to what fair value might be? Is the market getting ahead of itself, or could it still be undervalued at current prices?


----------



## greggles

I was right that MLS was getting ahead of itself early last month. The share price ended up collapsing back to 8c in the following two weeks. Disappointing for shareholders.

But some good news today.







68m at 3.09% zinc including 24m at 6.47% zinc isn't anything to sneeze at. Some silver in there too. Looks like there is more zinc at the Kultarr Zince Prospect. Outstanding results overall.

Lithium results can't be far away. Think MLS will back heading back towards 20c soon.


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## frugal.rock

I slapped a bit at this today...





Why?
Because I got a signal.


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