# ECH -  Echelon Resources



## stiger (17 April 2006)

Does any one apart from myself have an interest in echelon. I have been  in for a while. I stumbled across the deal  they have done with caz the other week in an old newspaper. I bought long term originally but may have to rethink my position. Any feedback would be welcomed.


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## stiger (24 April 2006)

Got burnt today but will rise from the ashes.No point whining about it .You play the game you take the pain.It is a  bit like backing the winner inthe melbourne cup and losing on protest.


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## Caliente (25 April 2006)

hey stiger, jesus!    i just looked at the chart. Thats gotta put a few knots in your stomach.

just wondering, what makes you so sure it will rise from the ashes? Looks to me like a pretty permanent spanner in the works until a slow and painful judicial process gets hammered out???

Do they have other big projects minus this one?

Cheers
-Caliente


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## Caliente (25 April 2006)

ps - the company site is BAREBONES!!!


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## stiger (12 May 2006)

Is looking slightly better than cazaly this week . Not bad for Barebones.


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## YOUNG_TRADER (30 March 2007)

ECH have sold off their last remaining good assets IMO,

After spining out their excellent Copper grounds to SVM, they are now selling their Iron Ore assets to IOH for 3m shares, they should have spun them out to into a new IPO would have done much better, 

Share price is up though


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## chris1983 (11 April 2007)

*Echelen Resources.*

*Echelon Total Class Issue:	26,962,878
Market Cap (Undiluted):	15,099,212*

4 million additional shares will be released to raise 1.4 million to a number of Canadian and European investors and the funds raised will be used to fund an accelerated exploration program on the tenements.

This is my latest spec uranium play that I have picked up.  Its prospects are based in Australia with 3 tenements 10 km directly to the south of BHP’s largest calcrete deposit in the world being the yeleerie deposit. (Based in WA)  It also holds tenements to the North of Summit Resources Vahalla deposit(Queensland).

There are two other explorers in the Area being BLZ and ENR but Echelon have something that those two other explorers don’t have which is extremely promising radiometric readings on their epls.  Not only do they have this but they also have tenements to the North of Summit resources Valhalla and Skal uranium projects.  The Queensland tenements are 50% owned by PDN which I like because it brings a strong partner into play if they ever did find a deposit in the area.  The experience Paladin would have in developing any future deposits found is priceless IMO.  Lots of experience within the PDN management team will bring some guidance to ECH.  

A lot may criticise this stock as it is based in WA and we know the stance of the government atm in regards to uranium mining..but the most attractive part of Echelon to me was the highly prospective land holding they have near MT ISA and its close proximity to Summits Valhalla deposit.  Just recently there was also an announcement in regards to some historic drilling results being found.  The promising results are below.

_In 1971 Queensland Mines Ltd carried out a percussion drilling program on the Batman prospect within the Greenstone tenement with the best assay results from the 5 hole program (Table 1) being: 

*• 17.8m @ 0.123% U3O8 - Hole PNB 5 
• 6.97m @ 0.091% U3O8 - Hole PNB 3 
• 2.7m @ 0.048% U3O8 - Hole PNB 2 *

A number of small shafts have also been sunk, however production records are not available. Figures 2 and 3 indicate the radiometric signature over the project areas – Batman, Duke and Lily. In addition to these areas, a major 4.2 kilometre long structure has been identified using existing radiometric data. Follow up surface mapping and sampling of this anomaly will be carried out._

Below I have attached maps showing their EPLS and locations.  One attachment for their Yeleerie EPLs which shows extremely promising radmiometrics and also one for their Queensland tenements.  Remember this is a spec play but I believe it is has what it takes to bring great rewards.  Strong radiometrics..some promising historic drilling and close proximity to two extremely large deposits.  All the best.


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## Rafa (11 April 2007)

a while to go before it fills the gap...



is this company essentially a brand new company, hence previous price action is irrelevant?

what were the reasons for its price plumetting the last time?

is there new management on board?


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## chris1983 (11 April 2007)

Rafa said:


> a while to go before it fills the gap...
> 
> 
> 
> ...




Primarily was an Iron Ore play.  Went up because they had a % in the shovellana dispute.  Also went down due to the dispute.  It has been overlooked as a uranium play


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## mmmmining (11 April 2007)

It is one of the companies claims land holding around Mt Isa.  Well in an excellent geological region. If cannot find enough uranium, they can find copper, zinc, lead, iron ore.....

The only problem is its share price has doubled for the uranium hype, and its land is in QLD. Don't know what is in Beaties' head in next few years. I might put it on my watchlist.

There quite a few of them in and around the region, such as GSE, MRX, URL, which uranium is not the main exploration target.


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## chris1983 (11 April 2007)

mmmmining said:


> It is one of the companies claims land holding around Mt Isa.  Well in an excellent geological region. If cannot find enough uranium, they can find copper, zinc, lead, iron ore.....
> 
> The only problem is its share price has doubled for the uranium hype, and its land is in QLD. Don't know what is in Beaties' head in next few years. I might put it on my watchlist.
> 
> There quite a few of them in and around the region, such as GSE, MRX, URL, which uranium is not the main exploration target.





Can't find enough? hmm..they are only just starting so maybe thats the reason.  Read their recent announcements.  They also sourced some historical drill results.  It is definately very speculative but could bring good rewards.  Hardly any shares on issue.  The reason why I like these guys is their epls south of BHP's yeleerie deposit.  Those epls also look very promising..so you have two land holdings in close proximity to very large deposits.  One with very strong radiometrics.  Queensland is also very favourable towards uranium mining and they have a strong partner with Paladin.


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## Sean K (11 April 2007)

chris1983 said:


> Queensland is also very favourable towards uranium mining.



Beatie has said he will not allow mining if it's up to him. Rudd has said he will leave it to the States. Not in the bag, but hardly paints a great picture for U in QLD in the short term. Carpenter has said the same thing. Only takes a change of leadership of course, but that looks to be some time off. 



			
				Ninemsn said:
			
		

> *Beattie aims to rule out uranium mining*
> Sunday Apr 1 16:35 AEST
> 
> The Queensland government will not allow uranium mining in the state if it has a say on the issue, Premier Peter Beattie says.
> ...




http://news.ninemsn.com.au/article.aspx?id=257969


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## chris1983 (11 April 2007)

kennas said:


> Beatie has said he will not allow mining if it's up to him. Rudd has said he will leave it to the States. Not in the bag, but hardly paints a great picture for U in QLD in the short term. Carpenter has said the same thing. Only takes a change of leadership of course, but that looks to be some time off.
> 
> 
> 
> http://news.ninemsn.com.au/article.aspx?id=257969




hmm true.  This is still my spec play for Australia.  I dont usually go for Australian uranium plays but I decided to have one for longer term prospects.  Out of all the grass root explorers I think this one has potential.  There are others that I like..for example GGY etc etc..but you cant have them all.


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## Sean K (11 April 2007)

chris1983 said:


> hmm true.  This is still my spec play for Australia.  I dont usually go for Australian uranium plays but I decided to have one for longer term prospects.  Out of all the grass root explorers I think this one has potential.



Yes, might be true, but that's not to say the speccies in WA and QLD will not do well if they find a significant resource, as you would probably agree. There's still money to made all over the country at the moment. As I said, leaders will change, Libs may even get in in the coming years, so there's plenty of opportunity out there. Personally, I'm just a little concerned at the immediate ripple effect when Labor do ann their 'official' revised policies after the Nat conference. I suppose we'll find out soon. Who knows, maybe the end result will be that Labor tell the states they are to allow mining??


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## nizar (11 April 2007)

kennas said:


> Yes, might be true, but that's not to say the speccies in WA and QLD will not do well if they find a significant resource, as you would probably agree. There's still money to made all over the country at the moment. As I said, leaders will change, Libs may even get in in the coming years, so there's plenty of opportunity out there. Personally, I'm just a little concerned at the immediate ripple effect when Labor do ann their 'official' revised policies after the Nat conference. I suppose we'll find out soon. Who knows, maybe the end result will be that Labor tell the states they are to allow mining??




Kennas.
If Labour will federal election later this year (a good chance), they can impose uranium mining and State governments have to implement this in their policies.

And Keven Rudd supports U mining, so i suspect its later on in the year that we will see the potential for a significant re-rating of those uranium stocks especially in WA and QLD.


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## Sean K (11 April 2007)

nizar said:


> Kennas.
> If Labour will federal election later this year (a good chance), they can impose uranium mining and State governments have to implement this in their policies.
> 
> And Keven Rudd supports U mining, so i suspect its later on in the year that we will see the potential for a significant re-rating of those uranium stocks especially in WA and QLD.



Yes, they can, but Rudd has stated he will leave it up to the States. I'll have to find that somewhere else for you. Doesn't mean he will get his own way at the conference of course, as I said above, but he's a golden child at the moment, and if the Nat Committee cross him it won't be good party solidarity.


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## mmmmining (11 April 2007)

kennas said:


> Yes, might be true, but that's not to say the speccies in WA and QLD will not do well if they find a significant resource, as you would probably agree. There's still money to made all over the country at the moment. As I said, leaders will change, Libs may even get in in the coming years, so there's plenty of opportunity out there. Personally, I'm just a little concerned at the immediate ripple effect when Labor do ann their 'official' revised policies after the Nat conference. I suppose we'll find out soon. Who knows, maybe the end result will be that Labor tell the states they are to allow mining??




Betting on horses in WA and QLD adding the political flavor. But the battle ground has shifted significantly from how much you can find to how soon and how much you can produce. I don't want to take huge unnecessary risk where you can find good explorers and developers anywhere else in the world.  

Of course, The potential near term producers has been hyped recently, you might think the greenfield explorers look cheap.

If I invest in a greenfield uranium player, it must be discounted deeply. If you look around, you might find some companies carry zero value for uranium asset. For example, EDN, SMC, or DGR..


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## Sean K (11 April 2007)

Sorry this thread has gone off ECH slightly. 

Just to confirm the reports that Rudd will leave the mining decision to the States:



			
				news.com.au said:
			
		

> *U-turn on uranium policy*
> Steven Wardill and Melanie Christiansen
> April 02, 2007 12:00am
> 
> ...




http://www.news.com.au/couriermail/story/0,23739,21486213-3102,00.html


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## chris1983 (11 April 2007)

I thought they were still cheap.  Market cap is only 17 million and in their last report that had 3 million cash at bank.  If you think all greenfields explorers cant bring you rewards..well hey its best to stick to the ones that have flown up allready.  I like to think there is always opportunity to find another one.  I think Echelon will do well.  Its like picking a needle out of  haystack with these explorers..but some of these explorers are going to fly.  Hopefully for me its Echelon.  I read into these..assessed the potential and I think they are a good play.


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## nizar (11 April 2007)

Thanks for sharing your research Chris.

Though i havent looked into ECH (besides skimming over what you have posted) but from my experiences also, i think you cant go wrong with low market cap explorers in the uranium sector. eg. EVE at 10c last year ($10million market cap), SAU at 17c early last year ($8million market cap).


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## nizar (11 April 2007)

Thanks Kennas for the article.


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## chris1983 (11 April 2007)

nizar said:


> Thanks for sharing your research Chris.
> 
> Though i havent looked into ECH (besides skimming over what you have posted) but from my experiences also, i think you cant go wrong with low market cap explorers in the uranium sector. eg. EVE at 10c last year ($10million market cap), SAU at 17c early last year ($8million market cap).





No worries.

I just liked the fact they had strong radiometrics/cash at bank/some historic drillholes/small amount of shares on issue/close proximity to two large deposits..one deposit being the largest calcrete deposit in the world.  To me that lit up in my head as being a cocktail for some nice SP gains.

All they need is some rock chip samples or some drilling results with decent grades and they will be through the roof.  The historic results have allready proven to me that this will happen.  This uranium bug is going to stay for some time so you still have time to pick some quality grassroot explorers with some grounds showing excellent potential.  Thats just my opinion.


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## Rafa (11 April 2007)

Sounds like the ASF members have been buying up ECH...

haha

Wonders never cease to amaze


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## Reefer (11 April 2007)

Think it was more likely the HC punters - it erupted soon after Chris's posting there.


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## chris1983 (11 April 2007)

Reefer said:


> Think it was more likely the HC punters - it erupted soon after Chris's posting there.




lol.  I'm just showing people the light.  This one has been running for awhile though..with no posts from me.  The buyer and seller depth is looking nice.


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## Rafa (11 April 2007)

Chris, hope you've posted on ERN on that forum...
Also, can you let us know before your about to post there, so i can do a quick day trade


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## chris1983 (11 April 2007)

Rafa said:


> Chris, hope you've posted on ERN on that forum...
> Also, can you let us know before your about to post there, so i can do a quick day trade




LOL.  I dont post to make a daytrade 

This stock looks very promising.  Dont worry Ive posted about ERN and BMN on that forum and others many a time.  In the earlier days I was doing free advertising for those companies lol


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## Halba (12 April 2007)

Halba is interested in this now. Yes the worry is QLD policy


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## Halba (13 April 2007)

Very very interesting company:

My thoughts:

4.5km airborne anomaly -  looks very promising, and with further airborne radiometrics it will be refined up and made clearer what they have.

So close to SMM tenements as well. Already got some good historical drills. Land very prospective. 

Yeeliree south - very prospective tenements there next to BHP's mega deposit. 

Overall not bad for a $19m company.

As a result I have taken a position. I don't expect news flow until mid to late next Month on their Yeeliree tenements.

This looks similar to Erongo(ERN) but it is in Australian properties near established deposits and big names.


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## chris1983 (13 April 2007)

Consolidating atm after quite a surge in SP.  Hopefully it holds around these levels and even can push slightly higher and hold in the 70's.

This is really more of a long term investment for me.  I'm just trying to find a couple of greenfield explorers that I think have massive potential.  Not expecting gains thick and fast but if they come i'll take them.  It certainly has the potential to bring those gains in quick time with its current prospects.


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## chris1983 (16 April 2007)

This is definately one to watch now that the paladin/summit takeover will go ahead.  ECH has some excellent tenements just to the North of summits grounds.  PDN allready have a 50% interest in these Mt Isa tenements that ECH also own.  Then ECH have highly prospective grounds under BHP's yeleerie deposit.  Keep a very close eye on ECH.


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## chris1983 (18 April 2007)

Good support creeping in for this one.  I'm looking for a close above 70 today.


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## ta2693 (18 April 2007)

Chris1983, what magic do you have? After your post,the seller are all backward. What is going on?


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## chris1983 (18 April 2007)

No Magic..just fundamental analysis.  This one has been missed as an extremely promising spec play.  Now that summit has been taken over..who has the tenements to the North of summit..echelon does..who also has a % in those tenements...Paladin does..what happened recently...they sourced some extremely promising historic drillholes 

They are in close proximity to two large deposits..with very promising radiometrics.  I saw the low market cap/small amount of shares on issue/enough cash to fund their drilling campaign for some time and thought its a good buy.  Good luck to holders.


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## Halba (18 April 2007)

This is a breakout and an all time high close. (learning some T/A from kennas lol). Low mkt cap will allow continual progression. Airborne surveys due to commence in WA yeeliree this week.


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## chris1983 (18 April 2007)

Halba said:


> This is a breakout and an all time high close. (learning some T/A from kennas lol). Low mkt cap will allow continual progression. Airborne surveys due to commence in WA yeeliree this week.




Looking good.  Closed at 76 and hasnt seen these price levels for quite some time.  The depth below is also looking great.  Only 4 sellers for a total of 35 k shares.  They are all the sellers that were left at the end of the day.  With a total class issue of *26,962,878 shares* how many investors will be willing to sell?

 0.760   1,500   1  
 0.770   10,000   1  
 0.850   23,000   1  
 0.950   1,500   1  

I also would suspect the rise to be in relation to the radiometric survey.  Below is the announcement in regards to the survey being carried out.

*ECHELON TO CARRY OUT AIRBORNE RADIOMETRIC SURVEY OF YEELIRRIE SOUTH URANIUM TENEMENTS*

_Echelon Resources Limited (“Echelon” or “Company”) is pleased to announce it has entered into a contract to carry out an airborne radiometric survey over its uranium tenements located 10km south of BHP Billiton’s Yeelirrie uranium deposit ( Figure 1).

The proposed program is designed to significantly increase the radiometric data that is currently available over the tenement areas. Following a review of the region, the Company believes that the high radiometric response is indicative of significant uranium anomalies and the area covered by the tenements has potential to be part of a feeder system to BHP Billiton’s Yeelirrie uranium deposit. Field mapping in February 2007 indicated that a number of potential targets exist.

The Company has three tenements E36/566, E36/567 and E36/568 covering approximately 430 Km². The tenements have a distinct radiometric signature that compares favourable with known uranium deposits in the vicinity.  The airborne survey is scheduled to commence in early April 2007. A total of 7,750 line kilometres will be flown at a line spacing of 100 metres. *The survey is expected to be completed by late April with the results being interpreted by May.* It is expected that mapping and drill targets will be identified for follow up later in the year.

The commencement of this program follows the previously announced increase in focus on the Company’s extensive exploration portfolio located in Western Australia and Queensland, which is considered prospective for uranium and gold/copper mineralisation._


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## chris1983 (19 April 2007)

Echelon is moving nicely continuing its upwards run.  Just touched 80.

I must add they have have 3.5 million shares in IOH which is worth about 2.5 million and then they also will have 4 million cash at bank


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## Gangis (19 April 2007)

Have I missed the boat on ECH? Has any bought at the current SP? Any predictions on where this run will end?


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## chris1983 (19 April 2007)

Gangis said:


> Have I missed the boat on ECH? Has any bought at the current SP? Any predictions on where this run will end?




These spec plays are never a sure thing.  If you dont like risking anthing..best to stay away.  Personally..when I saw BHPS radiometrics..and then saw Echelons..I thought to myself..these guys have a shot at something big.  ENR and BLZ are also in the area so its pick between the three really.  Nothing against those two other companies but I thought ECH was the best bet with tenements also straddling the Valhalla and Skal uranium prospects and strong radiometrics south of the yeelirrie deposit.

_"BHPB's Yeelirrie uranium deposit, located approximately 60kms south west of Wiluna, is the world's largest calcrete associated uranium deposit with a published resource of 52,500 tonnes of U 3O 8."_

52,500 tonnes and it would increase if they continued to drill out the Yeelirrie desposit.  Now..assess the radiometrics on Echelons licenses.  Their radiometrics are also quite strong.  Looking forward to when exploration starts and the results from the Airborne Radiometric Survey.


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## nizar (19 April 2007)

chris1983 said:


> Echelon is moving nicely continuing its upwards run.  Just touched 80.
> 
> I must add they have have 3.5 million shares in IOH which is worth about 2.5 million and then they also will have 4 million cash at bank




IOH....
Hmmm those memories, i remember back in the early days i picked some up for about $2.85... 
Of course chopped it not long after, but watta dog!


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## Gangis (19 April 2007)

I prefer to take a risk with stocks and i like to be in early. I have read through the various announcements and research available, i am just wandering what peoples expectations are. Where do people believe this SP will reasonabley head to? .80? .90? 1.50? 2.00?


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## chris1983 (19 April 2007)

Gangis said:


> I prefer to take a risk with stocks and i like to be in early. I have read through the various announcements and research available, i am just wandering what peoples expectations are. Where do people believe this SP will reasonabley head to? .80? .90? 1.50? 2.00?




haha Nizar..

Gangis..so hard to predict the SP.

They have 3.5 million IOH Shares..worth close to 2.5 million.

They will have 4 million cash at bank as an estimate after the funds from the placement to sophisticated investors come through.

_The Company will also make a placement of 4.0 million shares at $0.35 each to raise $1.4 million to a number of Canadian and European investors. Funds raised from the placement will be used to fund an accelerated exploration programme on the tenements including a detailed aerial radiometric survey within the next three months to further delineate drill targets, as well as a surface sampling campaign._

In total 30,962,878 shares at 78 cents is a market cap of just over 24 million.  4 million of that is cash and 2.5 million in shares for IOH.

So what value do you put on their tenements?  They are still cheap IMO.  If they find anything on their licenses which looks likely..I feel confident they will run.  This is why I bought into them.  All the best in your decisions.


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## Gangis (19 April 2007)

Thanks for the info Chris, definetly worth a go. I'll see what i can pick up in the morning.

Is there any particular reason why they went to international investors?


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## chris1983 (19 April 2007)

Gangis said:


> Thanks for the info Chris, definetly worth a go. I'll see what i can pick up in the morning.
> 
> Is there any particular reason why they went to international investors?




Not sure...maybe it was faster for them to raise it that way?

Its also important to note they only started to focus on uranium exploration during late November 2006.

"21 Nov 2006 11:31 ECH Acquisition of Uranium Tenements in Yeelirrie Area" 

It hasn't been too long since they started to focus on uranium.  Maybe this is why it's still not a well known uranium explorer.


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## nizar (19 April 2007)

chris1983 said:


> It hasn't been too long since they started to focus on uranium.  Maybe this is why it's still not a well known uranium explorer.




Like Blaze, lol


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## chris1983 (19 April 2007)

nizar said:


> Like Blaze, lol




haha go the Blaze 

Let me pursuade you to back this one instead of BLZ.  I would of actually got onto BLZ if they had some promising radiometrics.  They could still have something though.  Heres a good image of the Yeelirrie Deposit taken from ENR's website.  It shows how concentrated the deposit is on their long strip of radiometrics.  Really high grade too.


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## chris1983 (20 April 2007)

Sold down after the close for a price of 75.  

Someone decided to flog off 25,000 shares at 75 after trading all day in the low to mid 80's.

A bit silly if you ask me..especially after having a VWAP of 83.5 for the day.  He must of been happy with grabbing his profit.  There will be news for this one soon though..the airborne radiometric survey will be finished by the end of this month so keep a close eye out for any increased volume and movement.


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## chris1983 (23 April 2007)

Moving up strongly atm.  Currently up 10 cents (+13.3%)


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## Sean K (23 April 2007)

Good pick Chris!


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## Halba (23 April 2007)

Crazy increase today in a very *weak and volatile uranium market*.


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## nizar (23 April 2007)

Halba said:


> Crazy increase today in a very *weak and volatile uranium market*.




ERN as well.
My portfolio actually is up today.


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## Halba (23 April 2007)

Mine is up today, but BMN has dragged it well down in past 2 weeks. Why oh why did I top up BMN . Sometimes these decisions can stuff you up for weeks. Deep Yellow(DYL) up 15%.

Disclosure my portfolio weighted as follows:

35% BMN

15% MTN

15% ERN

Rest other uraniums, Nickel, zinc, industrials, banks.


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## chris1983 (23 April 2007)

kennas said:


> Good pick Chris!




Thanks.  Still watching carefully though.  Look how fast it has run.  The thing on its side though is the very low market cap.  When do you take profits?  Hard decision.  They will have news out around mid May.  You know me though..if I like something I wont sell.  Not yet anyway.


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## Sean K (23 April 2007)

chris1983 said:


> When do you take profits?



Any profit's a good profit!  I always like it when I'm free carried......


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## chris1983 (23 April 2007)

kennas said:


> Any profit's a good profit!  I always like it when I'm free carried......





Im all for free carried.  This is also the method at which I trade.  I like to try and make a good 150-200% gains though before I sell to free carry the rest..im a little bit greedy


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## monaliza (23 April 2007)

Can anyone explain to me why they sell 4,000,000 share at 35 cents


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## UraniumLover (23 April 2007)

kennas said:


> Good pick Chris!




I didn't think this would do this well due to location, was I wrong.
Have to hand it to you Chris, you know how to pick them.


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## JWBH01 (23 April 2007)

chris1983 said:


> Im all for free carried.  This is also the method at which I trade.  I like to try and make a good 150-200% gains though before I sell to free carry the rest..im a little bit greedy




Chris, not sure if I should have posted here, but at what point do you decide to free carry?  When you've doubled up?  I know each share would be different but do you have a guide line?  I like this method But I feel I am a bit greedy.


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## Sean K (23 April 2007)

JWBH01 said:


> Chris, not sure if I should have posted here, but at what point do you decide to free carry?



My understanding of being 'free carried' is that the shares you are left holding are 'free'. eg, the shares have doubled, and then you sell half.


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## chris1983 (23 April 2007)

kennas said:


> My understanding of being 'free carried' is that the shares you are left holding are 'free'. eg, the shares have doubled, and then you sell half.




JWBHO1...kennas explains it well.  I sold half my BMN and free carried the the other half..I have also done the same with Arrow Energy.  I only had to sell 1/4 of my Arrow energy to free carry 3/4 because the price went very close to 4 fold on the price that I got in.  They arent exactly all free carried but pretty close to it.  I'll continue to do the same with Erongo and Echelon.  I'll let them run more than 100% though.  ERN is allready close to 100% in profit.  I find it the safest way for me to ensure I lock profits in..no matter how much I like the stock.  Nothing is a sure thing but if you can sell enough shares in a stock you hold to free carry a decent holding you have the best of both worlds.  You can continue to see the rewards of a company you have faith in and you can also look for the next one to target.  Thats just my trading plan and I try to stick to it..even though I dont stick to it all the time


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## nizar (23 April 2007)

chris1983 said:


> JWBHO1...kennas explains it well.  I sold half my BMN and free carried the the other half..I have also done the same with Arrow Energy.  I only had to sell 1/4 of my Arrow energy to free carry 3/4 because the price went very close to 4 fold on the price that I got in.  They arent exactly all free carried but pretty close to it.  I'll continue to do the same with Erongo and Echelon.  I'll let them run more than 100% though.  ERN is allready close to 100% in profit. * I find it the safest way for me to ensure I lock profits in..no matter how much I like the stock*.  Nothing is a sure thing but if you can sell enough shares in a stock you hold to free carry a decent holding you have the best of both worlds.  You can continue to see the rewards of a company you have faith in and you can also look for the next one to target.  Thats just my trading plan and I try to stick to it..even though I dont stick to it all the time




Chris, i may be mistaken, but i thought free carried means that you sell enough to get your capital back, and then you let your profit run.
So you dont exactly lock in any profits??
Eg. AOE you buy at 100,000 shares at 50c. It goes to $2. You sell 25,000 to get your $50k back, and you keep your holding of 75,000 and let it ride.

So your not exactly locking in profits?
AOE could go to zero (hypothetically) and you will lose all your profit.

Do you keep a trailing stop loss in place?

I mean, BMNs a great company, but say it started falling, theres no company announcement, so according to you the fundamentals havent changed, but stay it started plummeting, to $3, then straight through it, to $2.80, then $2.50...
When would you just get out and protect some profits?
After all, you could always jump back on when the uptrend resumes? Yeh?

Would you face the situation differently if the correction/crash was only in BMN as opposed to a general market correction?

Do you think about these worst case scenarios?
I always do.

Im just keen to know what you would do. Coz its exits thats determine your profitability, not entries.

Of course, you dont have to answer these questions, they are just there to get you thinking.....


----------



## JWBH01 (23 April 2007)

Chris, Kennas, Nizar,

Thanks for your information.  Here is my scenario.  I have more than doubled my money with ERNO, but I want to hold on for another 6 months for 2 reasons.
1. I get to 12 months and get discount on CGT
2. Hopefully the SP has aprreciated more by then and I will have to seel less shares to get my capital back, giving me more to free carry.  Greedy or not?

Anyway I will read your notes tomorrow.  Got to get up early for work.  Sorry this wasn't really about ECH.  I should have bought in earlier.
Hesitation has cost me a bit lately.


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## chris1983 (23 April 2007)

nizar said:


> Chris, i may be mistaken, but i thought free carried means that you sell enough to get your capital back, and then you let your profit run.
> So you dont exactly lock in any profits??
> Eg. AOE you buy at 100,000 shares at 50c. It goes to $2. You sell 25,000 to get your $50k back, and you keep your holding of 75,000 and let it ride.
> 
> ...





Ahh yeah your right..I worded it wrong.  Sell enough to get your capital back is what I do.  I dont keep any trailing stops.  I also usually try to hold over 12 months to pay less Tax.  I always stick to the fundamentals and my own research.  I think all my stocks are going to be great .  I wont even sell BMN if they dropped $1.  If they dropped $1 off really bad news I would then assess the news and make my decision.  It depends on the facts presented to me.

If any of my stocks start to go useless though I sell out.  The ones I would consider selling are the "highly speculative" ones such as CFEO/HDGO/ECH.  Those three im still not sure on..but after weighing up all the positives I think they will all bring good gains.  Companies like BMN/AOE/AGM are ones that are locked in to hold because I feel very positive on them and what they will achieve.  When I think the profit is large enough I will probably bail but I have big numbers in my head for all three of those stocks.  From the free carried Arrow I bought ECH and HDG.  A larger holding in ECH.  These are my new "highly speculative" plays.  Atm I'm still not sure on ECH but I really don't think any bad news is going to come out.  Its going to be all positive IMO.  It will be interesting. ERN is another one of my stocks I'm looking to sell once Ive held 12 months.  I shouldnt have to sell too many to get my capital back and I can look for some more cheapies.  Hopefully that gives you an idea of how I think.  I think I wrote too much


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## chris1983 (24 April 2007)

Its not slowing down.......


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## chris1983 (24 April 2007)

Not many sellers left.  Large volume.  Increasing signs for positive news? Definately hope so.


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## chris1983 (24 April 2007)

ECH got a share price query after the close.

Their explained reasons behind the rise

1)  Close to summit resources grounds in Queensland.
2)  Improvement in uranium price and market sentiment
3)  Recent placement to North American and European investors.

Come on ECH..we all know its in regards to the recent airborne radiometric survey at your Yellerrie south tenements.  Thats what I put my money on.


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## chris1983 (26 April 2007)

ECH is still trading strongly after the price query.  Thats a good sign.  No loss of confidence from investors.  Its one of my few stocks performing well today and is turning over some good volume.


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## Halba (26 April 2007)

Healthy retrace only down a few ticks. Market may pause till next upleg based on air surveys.


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## chris1983 (26 April 2007)

Halba said:


> Healthy retrace only down a few ticks. Market may pause till next upleg based on air surveys.




Yeah heading down a little bit now.  Not to worry.  Few panickers worried about losing their profits


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## Halba (26 April 2007)

Sell off on wa stocks may be the cause?

NEL down 70c.

Reasons: market getting nervous re: WA political uncertainty, and possibly QLD uncertainties. ECH being an explorer won't be affected so much.


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## chris1983 (26 April 2007)

Halba said:


> Sell off on wa stocks may be the cause?
> 
> NEL down 70c.
> 
> Reasons: market getting nervous re: WA political uncertainty, and possibly QLD uncertainties. ECH being an explorer won't be affected so much.




Maybe?  Everyone seems to think Summit is such a good thing..so ECH should ride off speculation with their tenements to the North of Summit.  I'm holding for now..some consolidation for awhile is actually a good thing but I don't know how long this consolidation will last.  I think ECH will have another run as they are due for results soon from their Airborne radiometric survey for their yeelirrie south tenements.


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## chris1983 (26 April 2007)

Closed at 91.  Poor close.  Ask is at 98 which sounds about right.

VWAP was at 101.8 so the close is a long way off.

Still expecting good things for ECH in the next 2-3 weeks.


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## chris1983 (27 April 2007)

Third Quarter Activities & Cashflow Reports was out today.

Very positive..A little something that we didn't know from the report is below.

*EPM12208 (South East Isa (2)) and EPMA15908 (South East Isa (3)) are located approximately 25km south east of Mt Isa and 10km south of Andersons. A review of publicly available data indicates that the tenement has a number of anomalous “channel” like radiometric responses. 

During the quarter Echelon planned and scheduled a radiometric and magnetic survey over the tenement and associated application area. The addition of the magnetic data will help aid in the delineation of potential gold/copper targets within the tenement. The survey is currently scheduled to be conducted during May 2007 and consist of a total of 6,430 line kilometres flown at 100m
spacing.*

Then we just recently had the Airborne radiometrics being completed over the yeelirrie south tenements.  See below

*The preparations for an airborne radiometric and magnetic survey over the tenements were completed. The proposed program was designed to significantly increase the radiometric data that is currently available over the tenement areas. Following a review of the region, the Company believes that the high radiometric response is indicative of significant uranium anomalies and the area covered by the tenements has potential to be part of a feeder system to BHP Billiton’s Yeelirrie uranium deposit.

A total of 7,750 line kilometres will be flown at a line spacing of 100 metres. The survey is expected to be completed by late April with the results being interpreted during the May/June. It is expected that mapping and drill targets will be identified for follow up in the second half of the year.*

So there is quite a bit happening over the next 3 months.  Looking forward to some updates.


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## chris1983 (30 April 2007)

Holding very well.  Highest closing price this share has seen of late and it is being supported very well.  I don't mind if she consolidates at these levels but I think we could be seeing a higher SP in the coming weeks.  There are some announcements drawing near.


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## chris1983 (1 May 2007)

Very good announcement for Echelon.

*FORMER SUMMIT RESOURCES EXECUTIVE DIRECTOR APPOINTED MANAGING DIRECTOR OF ECHELON*

_The Directors of Echelon Resources Limited (‘Echelon’ or ‘Company’) are pleased to announce the appointment of Mr David Berrie as Managing Director of the Company. Mr Berrie has over 19 years experience in the resources sector and currently holds the position of Director – Corporate for Summit Resources Limited (‘Summit’). He has been closely involved with the development of the Valhalla and Skal Uranium Projects, located directly south of Echelon’s Greenstone tenement, as well as Summit’s various corporate activities.

Prior to joining Summit, Mr Berrie spent over 18 years with WMC, and subsequently BHP Billiton following its takeover of the company in 2005. During this time Mr Berrie had corporate, legal and commercial roles within their exploration, mining and project development groups. Mr Berrie holds Bachelor of Laws and Bachelor of Jurisprudence degrees from UWA.

Mr Berrie’s primary role will be to grow the Company and advance exploration of the Company’s Queensland uranium tenements. In particular, he will focus on deriving value from these tenements using the regional uranium experience he has gained during his time with Summit._


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## Sean K (1 May 2007)

chris1983 said:


> Very good announcement for Echelon.
> 
> *FORMER SUMMIT RESOURCES EXECUTIVE DIRECTOR APPOINTED MANAGING DIRECTOR OF ECHELON*
> 
> ...



Looks to be a good appointment. Perhaps that link with SMM might be of value to get the Mt Isa Project up and running, through a future JV.


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## chris1983 (1 May 2007)

kennas said:


> Looks to be a good appointment. Perhaps that link with SMM might be of value to get the Mt Isa Project up and running, through a future JV.




Yeah there are all connections in there because PDN own 50% interest in ECH's QLD tenements.  As you all know summit is being taken over by Paladin so I'm happy to be holding ECH at this point in time.


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## chris1983 (2 May 2007)

Threatening its previous high of 1.125..currently at 1.11 with the ask at 1.15.

This stock has news pending also in regards to the recent yillerie south airborne radiometric survey.  Hopefully this will be released in the next couple of weeks.  They also Just had the former summit exec director come on board.  Two projects in good locations next to very large deposits.  Looking good so far.


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## chris1983 (2 May 2007)

Powering off low volume.  Hitting 1.25 which I think is an alltime high.  Hardly any shares for sale.  This looks great.  It will be interesting to see if any profit takers come in when the airborne radiometrics are released.


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## Sean K (2 May 2007)

What an extraodinary run. Are you still holding all Chris or taken some profits. Just 3 sellers at 130, 148, and 150. Amazing. No one wants to sell. Only see this once in a while.


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## chris1983 (2 May 2007)

kennas said:


> What an extraodinary run. Are you still holding all Chris or taken some profits. Just 3 sellers at 130, 148, and 150. Amazing. No one wants to sell. Only see this once in a while.




Still holding.  Not long to go after I sell enough to free carry a decent holding though.  So hopefully they keep rolling on for a little bit more and get a bit of a push with the up-coming announcement to the airborne radiometrics.


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## Go Nuke (2 May 2007)

I reckon it'll get another speeding ticket!
20% increase today.

This would have been a better short term buy rather than BMN atm


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## chris1983 (2 May 2007)

Go Nuke said:


> I reckon it'll get another speeding ticket!
> 20% increase today.
> 
> This would have been a better short term buy rather than BMN atm




GoNuke based off Bannermans news etc I would of advised them over ECH.  ECH were one of my new spec plays that have been a great performer.  Its pretty amazing really.  Shows what shares can do when the are tightly held and have prospects close to some large deposits.  I always new ECH had what it takes to bring great rewards.  Strong Radiometrics/close proximity to large deposits/historic drill holes/small amount of shares on issue.  Im glad I went in quite heavy.  I dont usually put too much money into spec stocks but I have a decent holding in these.  Be patient with BMN.  Remember when they ran from 2.50 to 3.90.  This happened over such a short period.  Investors will see the true potential eventually.


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## chris1983 (3 May 2007)

Good consolidation and support for Echelon.  Buyers coming in when the price fell.  Would be good to see the SP hold around this level untill their next announcement is released.  Still not many shares for sale and pushed down on low volume so I think they could pull back into the 1.20's quite easily.  Especially when news is close.

_"The Yeelirrie South tenements located in Western Australia have the potential to host significant uranium mineralisation. During the quarter an airborne radiometrics survey was designed and contracts have been signed. The proposed program is designed to cover a total of 7,750 line kilometers and will be flown at a line spacing of 100 metres. The survey is expected to be completed by early May with the results being interpreted over May/June."_


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## chris1983 (10 May 2007)

Update for Echelon.  Probably should of posted this yesterday.  Its more experience onto the board for Echelon.  This is shaping to be a strong player in uranium exploration.  Just my opinion.  They have an experienced board and they are ready to show results.  Remember the airborne radiometrics for yelleerie south will be the first price sensitive announcement released later this month or early June and I'm betting it will be very positive.  Very happy with how the SP has held firm.  Hoping it continues this way untill we do receive the news and then it will be ready to run further.

*APPOINTMENT OF MR MATTHEW YATES AS DIRECTOR*

_The Directors of Echelon Resources Limited (‘Echelon’ or ‘Company’) are pleased to announce that Mr Matthew Yates has agreed to join the Company as a non-executive Director. Mr Yates will consult to the Company on technical matters, advising the Board in relation to its existing uranium tenements in Queensland and Western Australia.

Mr Yates is a geologist with 20 years industry experience, covering most facets of exploration from generative work to project development.
Mr Yates is currently the Managing Director of OmegaCorp Limited and has been instrumental in developing OmegaCorp’s uranium tenements in Zambia through a successful exploration phase and a recently completed scoping study. OmegaCorp’s project now contains a JORC compliant inferred resource of 13.7 million pounds of U3O8 and the company has recently been the subject of a Takeover Offer from both Denison Mines Corp and Central African Mining & Exploration Company plc. Mr Yates’ efforts have been directly attributable to the significant increase in the market capitalisation of OmegaCorp since it listed on the ASX.

Mr Yates has worked in Australia and southern, east and west Africa, Central Asia and the Gulf Region. He has managed exploration teams at the Nimary and Buhemba gold projects in Western Australia and Tanzania respectively. Mr Yates has an applied technical background and has held senior positions for over fifteen years, including Exploration Manager for Tanganyika Gold Limited.

In addition, Mr Yates was previously a Director of Echelon from May 2002 to August 2005 during which time Mr Yates was responsible for the management of the Company’s Queensland tenements._


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## chris1983 (11 May 2007)

Another good announcement for Echelon.  Looks like the ex Directors of Summit Resources and Omegacorp are taking charge for Echelon.  Really progressing both WA and QLD projects nicely.


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## chris1983 (15 May 2007)

Echelon continues to hold its ground...even after running so hard so fast.  There has been no major pullback in SP.  Looking really good with some large buyers in there to support the price.  Significant news is also on the Horizon.  If they get strong airborne radiometrics directly beneath the largest calcrete uranium deposit in the world I am expecting some fireworks..even if it is located in WA.  They also have their QLD tenements and airborne radiometric and magnetic surveys are scheduled to start running some time this month.  There will be lots of news pending in the next couple of months.

_"The Yeelirrie South tenements located in Western Australia have the potential to host significant uranium mineralisation. During the quarter an airborne radiometrics survey was designed and contracts have been signed. The proposed program is designed to cover a total of 7,750 line kilometers and will be flown at a line spacing of 100 metres. The survey is expected to be completed by early May with the results being interpreted over May/June. It is expected that mapping and drill targets will be identified for follow in the second half of the year."_


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## chris1983 (15 May 2007)

I'm expecting this to run further tomorrow.  Hit record highs today of 1.38.5.  Depth looks strong and some large buyers were coming in.


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## chris1983 (16 May 2007)

Am I the only one riding this?  Still moving niceley.  Touched 1.40.  There was a large seller at that price and most of it has been taken out.  Once we get through that level its looking extremely strong to run well over 1.50.


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## chris1983 (17 May 2007)

I think someone is accumulating these.  there has been a 50,000 buyer for the past few days.  Once he gets taken out he returns with a fresh bid.  Hitting all time highs this morning.  Still running at 1.45.  Getting closer to my initial price target of 1.60.  I may have to hold the way they are looking.  I think there is further to run.


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## chris1983 (18 May 2007)

Announcement out.

*Additional Historical Data Discovered for Uranium Project*

Continuing to run..just touched 1.50.  This was news I didn't expect..so there is plenty of news to come.  I think there will be plenty of news to keep this one running hot.


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## chris1983 (18 May 2007)

*ADDITIONAL HISTORICAL DRILLHOLE DATA DISCOVERED FOR ECHELON’S
“VALHALLA NORTH” URANIUM PROJECT*

_Echelon Resources Limited (“Echelon” or “Company”) is pleased to announce that it has discovered additional historical drillhole data relating to its “Valhalla North Project” (formerly known as “Greenstone”) located directly north of the Valhalla and Skal Uranium Projects operated by Summit Resources (Figure 1).

In 1974 Agip Australia Pty Ltd carried out a core drilling program on the Duke Batman prospect within the Company’s Valhalla North Project with the best results from the program (Table 1) being:

• 4.0m @ 0.308% U3O8 - Hole DBNX 02
• 3.0m @ 0.139% U3O8 - Hole DuD 1
• 7.0m @ 0.061% U3O8 - Hole DNB 03

These drill results provide additional confirmation of the prospectivity of the Company’s Valhalla North Project, following on from the previously announced high grade results from drilling undertaken by Queensland Mines Ltd in 1971 (refer ASX release dated 4 April 2007). The percussion drilling program carried out by Queensland Mines Ltd on the Duke Batman prospect included the following assay results from a 5 hole program (Table 2):

• 17.8m @ 0.123% U3O8 - Hole PNB 05
• 6.97m @ 0.091% U3O8 - Hole PNB 03
• 2.7m @ 0.048% U3O8 - Hole PNB 02

The Valhalla North Project is located 45 kilometres to the north of the Valhalla and Skal Uranium Projects operated by Summit Resources. Summit has recently reported a 57 million pound JORC compliant uranium resource for the Valhalla Project. In addition, Summit have reported encouraging uranium intersections at their Watta and Warwai prospects which are located 20 kilometres southeast of the Valhalla North Project. Both the Valhalla and Skal Uranium Projects were previously drilled by Queensland Mines Ltd in the
late 1960’s and Agip Australia Pty Ltd in the early 1970’s._


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## bigt (18 May 2007)

This mob just continue to amaze me...what a run and well spotted Chris. I must admit I was a little unsure of ECH when you first indicated they were your "chosen" Aussie U explorer.

With those drill results, they will have a decent resource...and not a drill in sight! Could keep going and going.


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## chris1983 (18 May 2007)

Good image shows you how prospective just one of their tenements are.  Once they source the historical drill holles and drill some of their own they should be able to get  JORC together pretty quickly.


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## Go Nuke (22 May 2007)

wow this stock just keeps going and going! 

Now they are going to list on the TSX as well...just weeks after BMN ann the same thing.
As completely unpredictable as the stock market is, i reckon the Canadians will leap onto this.ECH having their tennaments so close to SMM and with an international company like Areva trying to tap into their Uranium directly, this might suggest to some people that it could happen to ECH in the future.

Could ECH be another SMM?
Even with the Uranium sector cooling off, ECH defys the other U players and keeps rising.
For a short term play...I wish i had of bought some ECH 

GN


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## chris1983 (22 May 2007)

Thanks guys..Im in sydney atm so I cant post much.  But it definately looks good for ECH.  I'm holding off on my profit taking just for now.  Radiometric results should be out soon.  All the best to holders.


----------



## chris1983 (23 May 2007)

Im wondering when this one will take a breather but the buyers keep coming.  It has been an amazing and excellent run.


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## chris1983 (28 May 2007)

Well this one finally had a down day on friday.  It needed it.  I would like to see it consolidate for some time around 1.60.  It is holding very well.  Some how I dont think this run will be halted though.  I took some profits on Thursday and am now free carrying 10,000 Echelon.  Holding long on these to see what happens.  All the best to holders.


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## chris1983 (29 May 2007)

Trading halt.  Maybe results from yeelirrie radiometric surveys?  Would that require a trading halt? hmm.  I'm expecting some good news to come out from this.  Good luck to holders.


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## ta2693 (29 May 2007)

Chris1983, I have to say well done. You picked it out when it only in 60c to 70c range, right now it is 160. Amazing. What a pity, I am not with you on this one.


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## chris1983 (29 May 2007)

ta2693 said:


> Chris1983, I have to say well done. You picked it out when it only in 60c to 70c range, right now it is 160. Amazing. What a pity, I am not with you on this one.




Thanks mate.  There will always be others.  I just made my next purchase.  Another spec play.  Will post on it later.  Your on Arrow energy right?  No complaints from that one this morning.


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## chris1983 (31 May 2007)

Announcement out.  Another raising but at an excellent price.  It hasnt been above 1.50 for very long at all.  IMO Ech should run further off this announcement.

*SHARE PLACEMENT TO RAISE $18 MILLION*

_The Directors of Echelon Resources Limited (“Echelon” or “Company”) are pleased to advise that the Company intends to, subject to shareholder approval, make a sophisticated investor placement of 12 million shares at $1.50 each to European and North American clients of Haywood Securities.  The issue will raise $18 million before expenses.

As previously announced, Haywood Securities has been engaged to act as the Company’s exclusive lead agent for an intended listing on the Toronto Stock Exchange (“TSX”) later this year. The placement is anticipated to facilitate interest in the Company ahead of its TSX listing.  Proceeds from the issue will enable the Company to expand and accelerate the exploration
programs on its existing projects in Queensland and Western Australia, as well as to pursue new business development opportunities and provide general working capital._


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## chris1983 (31 May 2007)

Im surprised in the lack of action after this news. This news is very significant. Its not a little placement.  We only just recently broke 1.50 off little volume.  Anyway it should be an interesting couple of months ahead. Airborne radiometric survey results from Yeelirrie and then followed by the results from the QLD radiometrics will be released. I think this will give the SP a nudge well above the placement price of 1.50.


----------



## chris1983 (1 June 2007)

Good announcement.  New substantial holder from JPMorgan.  They have acquired 5.51%

*JPMorgan Chase & Co. and its affiliates*

Good show of confidence.


----------



## Sean K (1 June 2007)

Where do you reckon support is for this Chris? I suppose you haven't looked at the chart because you're a fundamental investor, but do you see any drama with the shape of this chart?


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## chris1983 (1 June 2007)

kennas said:


> Where do you reckon support is for this Chris? I suppose you haven't looked at the chart because you're a fundamental investor, but do you see any drama with the shape of this chart?




Kennas from what you have posted with the chart I see drama..especially when you look at it from a chartist view.  If they are raising funds at 1.50 though and they get the raising completed then everything is fine.  We know the results for the airborne radiometrics survey is drawing near for their yeelirrie tenements.  This will help support the SP IMHO or even push the price higher.  I expect the results to be good.

I did take some of my holdings off the table though and the rest is now free carried...like I said no matter how much I like a stock you have to stick to your trading plan.  I think the price will push higher which is why I havn't completely sold out.  At 1.50 they will have a market cap of around 65 million but 22 million of this will be in cash due to the placement.  Not bad IMO.  Very strong management onboard and projects in close proximity to two very large deposits..historical drill results are now also available for some of their QLD tenements.  The historical data also contains some very high grade readings and I believe they will find more historical data showing promising results.

ECH also hold 3.5 million shares in IOH which is worth 1.8 million.  With a TSX listing on the cards and JPMorgan recently buying into the company overseas support for ECH is looking very good.

Dont forget Paladin will be watching ECH very closely.  PDN have a 50% holding in a number of ECH's QLD tenements so a takeover could be very possible in the future.  Not right now..but the possibility will be there.  All in all ECH have the make up of a great spec IMO.


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## chris1983 (1 June 2007)

Below are the prices paid by JPMorgan.  They have paid an average price of around 1.64.  This is where all the constant buying was coming from.  I'm guessing part of the 18 million being raised will be taken up by these guys.


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## chris1983 (8 June 2007)

Echelon is just hanging around atm.  Moving back up to that 1.50 target.  The price they have made their placement at.

_"The Directors of Echelon Resources Limited (“Echelon” or “Company”) are pleased to advise that the Company intends to, subject to shareholder approval, make a sophisticated investor placement of 12 million shares at $1.50 each to European and North American clients of Haywood Securities. The issue will raise $18 million before expenses."_

18 million in cash..plus they still have like 5 in the bank?  Thats a lot of cash for a company with a market cap of just under 50 million.  I think there will be a re-rating if they do manage to raise this much money to Canadian investors.


----------



## ta2693 (8 June 2007)

I am wondering Is the investo really that good at making money? I know they make a lot of money every year. but where is their  big money from ,trading department or M&A department or IPO endorsing business?

As far as I know, DB investment department is a failure and DB is going to sell their investment department in Australia.  I am not sure others' performance.
A lot of shares I noticed when Investo show up, the price begin to goes down.  i.e. Investos are losing money at least in short term. e.g. ERN MLX ARR, and ECH. 
When LB Eu show their position in ERN, Ern falls down from 110 to 90
When Mac bank show their position in ARR, ARR falls down from 380 to 340
when JP morgan show their position in MLX, MLX falls down from 44 to 33

So I conclude a new investo major shareholder casts shadows on the share's future, at least in short term (3 month)


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## chris1983 (8 June 2007)

ta2693 said:


> I am wondering Is the investo really that good at making money? I know they make a lot of money every year. but where is their  big money from ,trading department or M&A department or IPO endorsing business?
> 
> As far as I know, DB investment department is a failure and DB is going to sell their investment department in Australia.  I am not sure others' performance.
> A lot of shares I noticed when Investo show up, the price begin to goes down.  i.e. Investos are losing money at least in short term. e.g. ERN MLX ARR, and ECH.
> ...




Very interesting comments.  I must say that it is very hard to accumulate large holdings in ECH though.  They accumulate big around those levels such as JPMorgan in at around 1.65 average and they are probably expecting them to run well past $2.  Of course they dont buy them expecting them to go down.  Should be interesting to see how they perform over the next 12 months..along with Erongo etc.  Those investments they made may turn out to be very sound investments.


----------



## ta2693 (8 June 2007)

I understand investos in ech may expect it to $2. 
My question is should we stand on their side? I think following the steps investos is not a good strategy.


----------



## chris1983 (9 June 2007)

ta2693 said:


> I understand investos in ech may expect it to $2.
> My question is should we stand on their side? I think following the steps investos is not a good strategy.




I dont follow their steps which is why I was in at the 60 cents level.  Its just a good sign to me them buying at those levels more than $1 above the price I paid.  Plus if the raising at 1.50 goes through that is also almost a dollar above my entry point.  Good signs for me.  Of course anyone entering now has more level of risk but IMO this one will run further.  Read back through the thread as to why I think this is a good uranium play in Australia.  Market cap is still quite cheap.  If the raising at 1.50 gets completed they will have 20+ million in cash and there are a few announcements to follow such as the Airborne radiometric results from both their yeelirrie and QLD tenements.  Both tenements are straddling some of the largest deposits in Australia and one of those deposits is the largest Calcrete deposit in the world.  Lots of speculation but dont play the specs if you dont want any risk involved.  Still plenty of upside left IMO.


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## Sean K (15 June 2007)

_Should_ be a bit of support around $1.10 ish I suppose. The indicators on this chart are as bearish as you can get. It'll find a point where it's fair value I assume. Those instos buying in at $1.50 must be happy. But what would they know?


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## chris1983 (15 June 2007)

Im free carried on this so its all good.  I said I wasn't going to sell untill i got the results from the Airbornes.  Plenty of news to come with Airborne radiometric results in some of the most prospective areas for uranium in Australia.  Straddling yeelirrie and summits deposits.  Panickers started jumping in.  Its traded 160k shares.  Not worried about the action just yet.


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## Sean K (15 June 2007)

chris1983 said:


> Im free carried on this so its all good.



Just because you're free carried doesn't make it all good IMO. Is it your money, or not? Obviously it's not because you're happy to watch it disappear before your eyes.  Good luck Chris.


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## chris1983 (15 June 2007)

kennas said:


> Just because you're free carried doesn't make it all good IMO. Is it your money, or not? Obviously it's not because you're happy to watch it disappear before your eyes.  Good luck Chris.




I watch my fund grow daily Kennas.  AIMO/CFEO/PNA Have all fired in the past month.  Sometimes some stocks you hold have downturns.  ECH are nearly back up to where they started.  The difference between you and I is I dont panic and stick to the fundies.  I could easily sell and pay 4 grand in Tax.  There is money dissapearing before my eyes.


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## chris1983 (26 June 2007)

Huge news for Echelon.  They completed the placement at 1.50.  Get ready for a bounce in a big way now.  This was big getting this placement completed.  They now have 20+ million at bank.


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## chris1983 (26 June 2007)

*SHARE PLACEMENT SUBSCRIPTION AGREEMENTS RECEIVED*

_The Directors of Echelon Resources Limited (“Echelon” or “Company”) are pleased to advise that the Company has now received all of the subscription agreements in relation to the previously announced placement of 12 million shares at $1.50 each.

The placement will raise A$18 million before expenses. The shares will be issued to European and North American clients of Haywood Securities and London based institutions.

The placement is subject to shareholder approval at a general meeting to be held on 20 July_


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## ta2693 (26 June 2007)

PPL in NA and Eu are paying $1.5 for ECH, whereas Aussie can get it $1.25 on market. I seems to me very unfair to them.

Why they do not come and buy on ASX rather than accept the offer?


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## chris1983 (26 June 2007)

ta2693 said:


> PPL in NA and Eu are paying $1.5 for ECH, whereas Aussie can get it $1.25 on market. I seems to me very unfair to them.
> 
> Why they do not come and buy on ASX rather than accept the offer?




It is easier for them to buy at 1.50 from Haywood Securities.  There aren't many shares on issue in ECH.  If overseas investors purchased 12 million shares at market prices I think they would have to push the SP well above $2.  Its all good news anyway.  My bets is the airborne radiometrics will be released in the coming weeks and they will be very positive.


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## Yeti (26 June 2007)

ta2693 said:


> PPL in NA and Eu are paying $1.5 for ECH, whereas Aussie can get it $1.25 on market. I seems to me very unfair to them.
> 
> Why they do not come and buy on ASX rather than accept the offer?




Thanks for asking that question, and thanks for answering it Chris. It had been puzzling me too. This has been a nice little earner for me. Looking forward to the next announcement.


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## chris1983 (26 June 2007)

Yeti said:


> Thanks for asking that question, and thanks for answering it Chris. It had been puzzling me too. This has been a nice little earner for me. Looking forward to the next announcement.




No worries guys.  Echelon are still very cheap with excellent prospects.  They have around 22 million cash on hand now.

*Shares on issue will be 45,562878*

*Fully diluted Market cap is 57.5 million*

Thats not bad considering they have around 22 million in cash.  They also own 3.5 million IOH shares valued at 2.3 million.

Two very prospective projects with their Yeelirrie tenements and QLD tenements.  Some of their QLD tenements allready have high grading uranium hits.  Its a very good price atm IMO.


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## Sean K (9 August 2007)

Golly, what's going on with ECH? 

Sitting on support at $1.20 at the moment. Hope it holds for longs.

Market depth at 9.45:


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## Go Nuke (9 August 2007)

Yeah i keep checking ECH too Kennas.

I actually quickly clicked on this page of ECH then clicked the next one before seeing SOMEONE (YOU) had actually left a post here

Its been pretty dead hasn't it.
I reckon people are just holding tight until some ann are made about what they find up there.
That buy order of 50k has been sitting there along time.

I'm sure that this stock will takeoff once they do release some more info on their dirt.


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## Sean K (14 August 2007)

This has completely gone off the boil, along with the rest of the U sector I suppose, which could have been anticipated. Come off even more than I would have thought! Ouch.

This is off 50%, ERN off about 55%, BMN off 40+%, MTN off 40%, AGS off 60+% 

Many investors much be questioning their positions I imagine. Time to take a tax loss and buy back in? Hold out for long term potential. Or move on?

In the past with quality stocks that have corrected significantly, I have taken the opportunity to fix in some tax losses (if I've made some decent gains - and remember tax losses can be carried forward) and bought back in. Just one angle of attack. Each to their own...

Any other tactics out there?


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## pingkie_o (27 November 2007)

To get a cheap exposure to uranium...how about JRL (Jindalee Resources)? they have 40% stake in EME worth $1.60...currently trading at $1.30.
that is a huge discount to the NTA not to mention other tenements, cash and shares holdings
I am tipping PDN will swallow EME. they have the fire power and the synergy in the Birqli tenement.


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