# PMH - Pacmag Metals



## donjohnson (5 October 2006)

Just released an announcement:

SX ANNOUNCEMENT
INITIAL PACMAG RESOURCE ESTIMATE (JORC COMPLIANT)
FOR ANN MASON COPPER-MOLYBDENUM DEPOSIT
KEY POINTS

• PacMag's initial Ann Mason resource of 810 million tonnes @ 0.40% copper and 0.004% molybdenum (0.30% copper cut off) contains 64% more copper than previous estimate.

• *3.2 million tonnes (7.1 billion pounds) of contained copper metal with an in-ground value of US$25 billion based on current metal prices.*

• Higher grade material contained within the new global inferred resource
include: 
o 221 million tonnes @ 0.51% copper, 0.004% molybdenum (0.55% copper
equivalent)
• Significant upside potential to increase the resource grade with large gaps in the northwest of the deposit along strike from the higher grade copper –
molybdenum zones already identified (containing previous drill intersections of
302 metres @ 0.81% copper and 220 metres @ 0.68% copper).
• Mineralisation is open at depth on most drill sections, providing potential to
further increase resource tonnage.

The Directors of PacMag Metals Ltd ("PacMag") are very pleased to report the company's initial resource estimate for the Ann Mason Copper-Molybdenum-Gold deposit owned 100% by PacMag Metals Limited. The deposit is located in Nevada USA within a well known mining district.

DYOR


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## donjohnson (5 October 2006)

*PMH - Pacmag Metals Ltd: $25 Billion Resource Estimate*

More info...

Higher-grade copper sulphide mineralisation at Ann Mason starts from 97m below surface, extends to a depth of greater than 880m and is continuous over 1600m of strike and 750m of width. 

The new Ann Mason resource of 810 million tonnes at 0.40% copper and  .004% molybdenum (0.3% copper cut-off) contains 64% more copper at equivalent grade than the previous (non-JORC compliant) estimate completed in the 1970s by the Anaconda Copper Corporation. 

The deposit is open at depth on most sections drilled to date indicating that additional tonnes could be easily added by drilling beyond the limit of existing drill holes. New targets have been identified in the northwest of the deposit where previous drilling has intersected high grade copper mineralisation grading up to 10.5% copper.


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## donjohnson (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

Anyone jump on this?

Up 115%.... huge resource, JORC compliant, low market cap...

I got in at 26c, so i'm hoping she runs a little longer!


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## ALFguy (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				donjohnson said:
			
		

> Anyone jump on this?
> 
> Up 115%.... huge resource, JORC compliant, low market cap...
> 
> I got in at 26c, so i'm hoping she runs a little longer!




Gotta be happy with that 

In-ground value of US$25 billion is crazy....


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## donjohnson (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

Too true, thank christ for the internet at work!


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## chris1983 (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

I'm in!

Having a go on this one.

Market cap is only 40 million.

25 billion in the ground.  Worth a go.


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## donjohnson (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

Miningnews.net release:


Pacmag jumps 62% on Ann Mason upgrade


Thursday, 5 October 2006

PACMAG Metals has added 64% more copper to the resource at its Ann Mason copper-molybdenum-gold deposit in Nevada, with the good news flowing on to its share price – which jumped just over 62% in morning trade.

The company's new inferred resource for Ann Mason contains 810 million tonnes at 0.4% copper and 0.004% molybdenum (using a 0.3% copper cut-off) and includes a higher grade zone of 220Mt at 0.51% copper and 0.004% molybdenum (at a 0.43% copper cut-off).

A previous estimate of the deposit was completed in the 1970s by Anaconda Copper.

Pacmag managing director Michael Clifford said the 3.2Mt of contained copper in the deposit had an in-ground value of $US25 billion ($A33.5 billion), based on current metals prices.

"We own 100% of the Ann Mason copper-molybdenum-gold deposit, which is close to rail and power and is in Phelps Dodge's backyard, located in what is considered the most attractive location for mining investment in the world," Clifford said.

"Our Ann Mason deposit means Pacmag has one of the largest undeveloped deposits of its type in the American continent and during the fourth quarter of this year, we will complete our scoping level study, which will provide us with the details we need for mine and processing operations."

The good news continues for Pacmag, with current drilling indicating the deposit is open at depth, and two new large northwestern resource targets have been identified where previous drilling intersected high-grade copper mineralisation of up to 10.5%.

Better intersections from the new targets include 20m at 1.11% copper, 302m at 0.81% copper, 0.08 gram per tonne gold and 1gpt silver, and 220m at 0.68% copper and 1gpt silver.

In addition, Pacmag is assessing new regional targets in the Ann Mason area, which the company said "will have synergy with any potential future operation" in the region.

The Ann Mason project consists of a total of 80 unpatented mining claims covering a deposit discovered in the 1970s by Anaconda.

Shares in Pacmag are settling down from today's high of 30c and are currently at 27c at midday trading today. The stock began the day trading at 18.5c.


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## ALFguy (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				chris1983 said:
			
		

> I'm in!
> 
> Having a go on this one.
> 
> ...




I'm liking it....still hesitating...

What did you get in at Chris?


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## maverick11 (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

hahah crap! saw this this morning at 48% and thought nahhh it can't get much better than that!  Now nearly 140% crap!


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## chris1983 (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

Picked them up in the 40's. I'm out a little bit atm.  I didnt pick many up though.  Sold Shannon.  I like Shannon (SHA) but its the only stock I was willing to sell and made a quick profit on it.

Should be interesting to see how this one progresses.  Thats a lot of Copper in the ground.  Also interesting to see what happens when the news hits the papers.


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## maverick11 (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

i think a lot of people will dump before close today so good buying then....if it's gonna continue the run tomorrow?


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## chris1983 (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

I think they have the potential to double from what they are atm quite easily.  

Its all in the minds of people.  They couldnt get them at a cheaper price earlier in the day.  So now they arent willing to buy them.......untill tomorrow.  Probably had their run for the day.  25 billion in the ground with such a low market cap..in a prime location attracted me.


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## donjohnson (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

I agree, IMO it'll close around 40-45c.

Who knows where she'll go tomorrow - depends on media attention etc.


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## ALFguy (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				donjohnson said:
			
		

> I agree, IMO it'll close around 40-45c.
> 
> Who knows where she'll go tomorrow - depends on media attention etc.




It's started. From The Australian!

*PacMag shares soar on project news
October 05, 2006
SHARES in explorer PacMag Metals Ltd soared today after it outlined $US25 billion($33.58 billion) resource estimate at its Ann Mason project in Nevada, US.

PacMag said the project has a resource of 810 million tonnes grading 0.4 per cent copper and 0.004 per cent molybdenum, which was a 64 per cent increase on the previous estimate.

Shares in the company shot up 24.5 cents, or 132.4 per cent, to 43 cents by 1325 AEST.

The copper metal in the resources has an in-ground value of $US25 billion based on current metal prices, PacMag said, and there was still room to further increase the resource. *


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## maverick11 (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

do you think ASX will put a halt on tomorrow?


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## ALFguy (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				maverick11 said:
			
		

> do you think ASX will put a halt on tomorrow?




Why would they?
Just come out of a trading halt following the release of this news.
SP is simply reflecting their worth now.


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## SevenFX (5 October 2006)

*Re: PMH - Where's this Going 123% Close*

Any thoughts Guys where this will go tommorow...????? as it's has had a huge day, or is it only a small day.


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## tarnor (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*

I got in at 27 today for a quick trade.. grade isn't that high .. how much will it cost to get it out?..  Looked to me like a lot of stock was being fed out at 45c and i bailed.. didnt want to risk holding it overnight because of the possibly that some negative press might spoil the party...so far press has been positive...  im guessing it migth take a spike into the 45- 50 range tommorow and close somewhere back near the 40 mark.. migth be wise to be a little careful..  would be good to get a geos opinion

gl! if i was still holding id be selling 5 - 10 minutes after open into a spike or bailing in the opening if it was going to open down :/

who knows lol


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## nizar (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				ALFguy said:
			
		

> Why would they?
> Just come out of a trading halt following the release of this news.
> SP is simply reflecting their worth now.




LOL their sp is far from reflecting their worth
Their resource is worth 25billion and their market cap at todays close is <50mil


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## pussycat2005 (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				tarnor said:
			
		

> I got in at 27 today for a quick trade.. grade isn't that high .. how much will it cost to get it out?..  Looked to me like a lot of stock was being fed out at 45c and i bailed.. didnt want to risk holding it overnight because of the possibly that some negative press might spoil the party...so far press has been positive...  im guessing it migth take a spike into the 45- 50 range tommorow and close somewhere back near the 40 mark.. migth be wise to be a little careful..  would be good to get a geos opinion
> 
> gl! if i was still holding id be selling 5 - 10 minutes after open into a spike or bailing in the opening if it was going to open down :/
> 
> who knows lol



press has been awesome

Spectacular rise dominates day 

Paul Garvey
Thursday, 5 October 2006

SOMETIMES it's hard for a mining minnow to get noticed on the equities market, particularly when resource stocks are enjoying a day as positive as this one. But for one such junior, which has received very little attention in its recent history, October 5 was the day it arrived in the spotlight.


Stock ASX
Code Close
($) Change
(cents) Change
(%) Vol
(M) VWAP
($) 
Centennial Coal CEY 3.68 28.00 8.24 1.94 3.62 
Fortescue Metals Grp FMG 9.40 62.00 7.06 0.97 9.27 
Iluka Resources ILU 7.52 34.00 4.74 1.24 7.43 
Bolnisi Gold NL BSG 2.48 9.00 3.77 0.90 2.42 
Jubilee Mines NL JBM 10.44 33.00 3.26 0.41 10.32 
Alumina Limited AWC 6.16 18.00 3.01 6.83 6.10 
RIO Tinto Limited RIO 69.33 132.00 1.94 1.90 68.89 
Kagara Zinc Limited KZL 5.36 10.00 1.90 0.33 5.28 
Oxiana Limited OXR 2.86 5.00 1.78 5.10 2.85 
BHP Billiton Limited BHP 25.15 39.00 1.58 24.14 24.97 
Aquarius Platinum. AQP 21.76 31.00 1.45 0.09 21.59 
Paladin Resources PDN 4.90 6.00 1.24 1.34 4.88 
Bendigo Mining Ltd BDG 1.31 1.00 0.77 2.85 1.31 
Lihir Gold Limited LHG 2.78 2.00 0.72 15.86 2.77 
Newcrest Mining NCM 21.40 14.00 0.66 2.24 21.32 
Equinox Minerals Ltd EQN 1.77 1.00 0.57 0.16 1.75 
Straits Resources SRL 4.08 1.00 0.25 0.13 4.07 
Excel Coal Limited EXL 9.47 2.00 0.21 1.00 9.47 
New Hope Corporation NHC 1.42 0.00 0.00 0.16 1.42 
Energy Resources ERA 12.22 0.00 0.00 0.63 12.16 
LionOre Mining Intl. LIM 8.18 -2.00 -0.24 0.00 8.18 
Zinifex Limited ZFX 11.84 -13.00 -1.09 7.02 11.83 
Compass Resources NL CMR 4.64 -6.00 -1.28 0.13 4.65 
Minara Resources MRE 3.95 -10.00 -2.47 2.67 3.92 




So light has interest been in West Perth-based PacMag – formerly known as Pacific Magnesium – that just 2 million of its 101 million shares on issue had been traded over the past month while its share price bounced between 18c and 21c.

Yet today, as the company unveiled a 64% increase in the contained copper resource at its Ann Mason project in Nevada, taking the contained in situ copper content of the deposit to 3.2 million tones (worth a cool $US25 billion at today's copper prices), PacMag shares fairly exploded.

After opening at 18.5c, PacMag went on a phenomenal run all the way up to an intraday high of 47c – representing a total gain of 154% – before settling back down to finish the day at 41c for a gain of "only" 124.3%.

Over the course of the day, some 18.7 million PacMag shares traded hands; to put that in context, before today just 21 million PacMag shares had been traded in total over the past six months.

Whether PacMag's screaming arrival in the market's line of sight is just a blip or the start of something bigger remains to be seen, but either way there'll be plenty of traders making toasts to PacMag when they put their feet up this evening.

PacMag's performance was a dramatic highlight to a day in which mining stocks put aside a bad night for commodity markets to post a generally positive run that saw much of yesterday's pain erased.


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## Beethoven (5 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				nizar said:
			
		

> LOL their sp is far from reflecting their worth
> Their resource is worth 25billion and their market cap at todays close is <50mil




lol i agree.  I think buying it atm is actually a safe buy.


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## SevenFX (6 October 2006)

*Re: PMH - Pacmag Metals Ltd*



			
				tarnor said:
			
		

> im guessing it migth take a spike into the 45- 50 range tommorow and close somewhere back near the 40 mark.. migth be wise to be a little careful..  would be good to get a geos opinion
> 
> gl! if i was still holding id be selling 5 - 10 minutes after open into a spike or bailing in the opening if it was going to open down :/
> 
> who knows lol




I'm tending to agree with you in the short term Tanor, and it should have abit more retracing 2 do, but IMO who knows where it will be driven up like few others (cdu) that have enjoyed the top...???

But not sure if what Bathoven would be a good idea, to buy in now, esp when market opens....

Any other Thoughts

Thanks
SevenFX


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## chris1983 (6 October 2006)

I'll stick with what I said yesterday.  The press would get hold of it and more investors will buy in today. 34 billion Australian dollars is a lot of money.  Thats double what they estimated CDU's Rockland Copper find which was 17 Billion.  The question in regards to how much it costs to dig it out..........well people will assess that later.

I know the grades of CDU are better etc etc..but people will just hear the in-ground value..and its quite a lot.

It will be interesting to see what happens.  Ill be watching.


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## nizar (6 October 2006)

chris1983 said:
			
		

> I'll stick with what I said yesterday.  The press would get hold of it and more investors will buy in today. 34 billion Australian dollars is a lot of money.  Thats double what they estimated CDU's Rockland Copper find which was 17 Billion.  The question in regards to how much it costs to dig it out..........well people will assess that later.
> 
> I know the grades of CDU are better etc etc..but people will just hear the in-ground value..and its quite a lot.
> 
> It will be interesting to see what happens.  Ill be watching.




it will probably gap open with massive volumes due to the press with the bullishness of some of the articles going around "us$25b in ground value, potential to increase resource, etc"

but because 2mrw is a weekend, i reckon it will weaken towards the close as traders dont want their money in this over the weeknd


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## chris1983 (6 October 2006)

"Around the Traps ... with THE FERRET 
08:27, Friday, 6 October 2006
        Sydney - Friday - October 6: (RWE Australian Business News) -
        ****************************

No wonder they went for the doctor in PACMAG METALS (PMH) 
yesterday.  The company announced its Ann Mason deposit in Nevada contained 64 per cent more copper than previously estimated.

The shares soared 28.5c to 47c before closing at 41.5c (and, 
fair dinkum, you gotta feel for the poor saps who sold down from 21c to 
18.5c ahead of the trading halt on Monday).   Managing director Michael Clifford spelt it out in terms we can all dig.

The 3.2 million tonnes (7.1 billion pounds) of contained copper 
metal in the deposit had an in-ground value of $US25 billion (more than 
$33 billion in Pacific pesos), based on buoyant current metal prices, he 
said.

In the ground is a long way from copper cathodes but it still 
means something when you compare it with PacMag's market capitalisation 
of $42 million.

"Our Ann Mason deposit (810 mt at 0.4 per cent copper, 0.004 per 
cent molybdenum) means PacMag has one of the largest undeveloped 
deposits of its type in the American continent and during the fourth 
quarter of this year we will complete our scoping level study which will 
provide us with the details we need for mine and processing operations," 
Mr Clifford said.

And in case you still didn't get it ... "Given this new up-grade 
we can now compare favourably in size and grade to some of the biggest 
copper mining operations in the world, including Teck Cominco's Highland 
Valley Canadian mine, Quadra's Robinson mine in Nevada and Phelps Dodge 
Cobre-Chino and Morenci mines and no doubt what we are doing will 
attract international attention."


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## chris1983 (6 October 2006)

nizar said:
			
		

> it will probably gap open with massive volumes due to the press with the bullishness of some of the articles going around "us$25b in ground value, potential to increase resource, etc"
> 
> but because 2mrw is a weekend, i reckon it will weaken towards the close as traders dont want their money in this over the weeknd




Who knows Nizar.  Might keep going.  Will probably be in the papers over the weekend too.  Most people are rating the find quite highly.  The company's market cap doesnt do the deposit justice just yet.


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## Alfredbra (6 October 2006)

look at the buy orders!


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## SevenFX (6 October 2006)

nizar said:
			
		

> it will probably gap open with massive volumes due to the press with the bullishness of some of the articles going around "us$25b in ground value, potential to increase resource, etc"
> 
> but because 2mrw is a weekend, i reckon it will weaken towards the close as traders dont want their money in this over the weeknd




Your on the money Nizar, it's currently up by 8.3%/35pts up.....

Cheers
Thanks


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## Alfredbra (6 October 2006)

PMH in trading halt?


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## donjohnson (6 October 2006)

I'm still holding aswell - bit of fun yesterday!

Hopefully today sees her crack 70c, then i'm sure the daytraders will sell off in the arvo and we'll see a close around 40-50c.

Then again, with all the press its getting we could see the rocket continue!

Cheers to all holders...


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## tarnor (6 October 2006)

Yeah press coverage has been great. huge opening coming by the look of it.  I know what i would be doing if i held.. Be careful if your new to these sort of frenzies!  45c is an important line to watch imho have fun :/


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## donjohnson (6 October 2006)

Buy side:

Quantity 	No. 	Price
 23,000 	2 	80
 22,000Volume Ahead: 23,000 	2 	70
 20,000Volume Ahead: 45,000 	1 	69
 5,000Volume Ahead: 65,000 	1 	61
 50,885Volume Ahead: 70,000 	2 	60
 6,737Volume Ahead: 120,885 	2 	59
 20,000Volume Ahead: 127,622 	1 	58
 5,000Volume Ahead: 147,622 	1 	53
 10,000Volume Ahead: 152,622 	1 	52
 20,700Volume Ahead: 162,622 	4 	51
 151,700Volume Ahead: 183,322 	6 	50
 55,000Volume Ahead: 335,022 	2 	49
 13,500Volume Ahead: 390,022 	3 	48
 10,000Volume Ahead: 403,522 	1 	47.5
 55,500Volume Ahead: 413,522 	3 	47


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## Alfredbra (6 October 2006)

you guys, is this in a trading halt. Etrade says status: trading halt


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## JoshyJ (6 October 2006)

i dont know, i got etrade too, but thought it was just a etrade error.


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## donjohnson (6 October 2006)

Not in a halt on my account with direct broking...


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## Realist (6 October 2006)

I bought 10,000 - it seems fundamentally quite excellent!

CDU eat my shorts...


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## tarnor (6 October 2006)

not really fair to compare it to cdu the grade is heaps lower...


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## chris1983 (6 October 2006)

Realist said:
			
		

> I bought 10,000 - it seems fundamentally quite excellent!
> 
> CDU eat my shorts...




Well all I have done is compare the 33 billion to CDU's 17 billion.

Not comparing grades..cost to dig out..but the press seems to like what they have.  Hasnt been a negative comment made as of yet.

They have higher grade targets to drill yet and expect the resource to be expanded.  People are wary though.  If some scared investors see the price drop a little bit because of profit takers..panic sellers will come in.


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## Realist (6 October 2006)

It is hovering around the 50c mark.

The market cap is still so low - less than 1/5th of CDU.


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## SevenFX (6 October 2006)

donjohnson said:
			
		

> I'm still holding aswell - bit of fun yesterday!
> 
> Hopefully today sees her crack 70c, then i'm sure the daytraders will sell off in the arvo and we'll see a close around 40-50c.
> 
> ...




I gotta thank you again for puttin us onto this,,,,,,you the man....  

However, I sould out at 50c (should have let go at 54) but, I'm all for taking profits and buying back in again....   

Where do I send the Coldies, and where do I send It.  

Smiles everywhere...


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## Beethoven (6 October 2006)

Realist said:
			
		

> It is hovering around the 50c mark.
> 
> The market cap is still so low - less than 1/5th of CDU.




lol this stock is getting driven down by profit takers.  How much did you buy this for realist?


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## Realist (6 October 2006)

I'm holding this one for a while.

Traders will get scared and stopped out..  I'll hold..


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## Realist (6 October 2006)

41c


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## Realist (6 October 2006)

I'm thinking of buying more at 47c today, it seems the low... 

Or is that crazy talk?


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## chris1983 (6 October 2006)

Realist said:
			
		

> I'm holding this one for a while.
> 
> Traders will get scared and stopped out..  I'll hold..




Well IMO its going to keep going.  Dont forget they expect to expand this 33 billion dollar resource.  They have higher grade targets to drill yet.  People have jumped out and are taking profit..but I think it will finish higher.  Im only a newbie trader so what would I know though 

They should get good media exposure over the weekend too.


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## Realist (6 October 2006)

There's no question unless there's something sinister I do not know, that this is still tremendously undervalued.

I mean I hold CQT which has $700M in inground assets and it's market cap is $65M.

PMH seems a way better buy than CQT by about 20 fold..  

am I missing something?


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## donjohnson (6 October 2006)

SevenFX said:
			
		

> I gotta thank you again for puttin us onto this,,,,,,you the man....
> 
> However, I sould out at 50c (should have let go at 54) but, I'm all for taking profits and buying back in again....
> 
> ...





Nice, wonder how they'd survive a trip to New Zealand?

Instead of a cold one i'd love to know when bl**dy CQT is going to release an announcement.

Heres the thing about my PMH shares though - i'm issuer sponsored, so I don't have the damned SRN yet and can't sell without it!

Should really have put in that CHESS application months ago!


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## RichKid (6 October 2006)

Realist said:
			
		

> I'm thinking of buying more at 47c today, it seems the low...
> 
> Or is that crazy talk?




<insert Jaws theme music>....beware the Shark Bar, Mr Realist, but then you are not a trader so it can't hurt you if you don't believe- right?!?.....https://www.aussiestockforums.com/forums/showthread.php?p=77844#post77844


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## SevenFX (6 October 2006)

tarnor said:
			
		

> Be careful if your new to these sort of frenzies!  45c is an important line to watch imho have fun :/




Tarnor,

It seems to be trending down, and from what little I know, indicators (RSI) may not help if I'm buying long...

Buyers and sellers are neck n neck.

Could you also pls put a chart of the 45c support line pls.


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## Realist (6 October 2006)

50c now, damn should have bought more at 47c this morning.


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## tarnor (6 October 2006)

its filled yesterdays gap to 47 which would have attracted some buyers and currently holding it up maybe?  i still feel low 40s is a good 
chance for close today..   but the markets always right


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## Realist (6 October 2006)

RichKid said:
			
		

> <insert Jaws theme music>....beware the Shark Bar, Mr Realist, but then you are not a trader so it can't hurt you if you don't believe- right?!?.....https://www.aussiestockforums.com/forums/showthread.php?p=77844#post77844





Haha, T/A (astrology) rubbish.

I'm buying this cause it has the potential for $33,000,000,000 worth of resources and it's market cap is a measley $50M.

There is a goddam good fundamental reason the share price has rocketed, the cheaper you get in the better!  Any charts are irrelevant!


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## Realist (6 October 2006)

tarnor said:
			
		

> its filled yesterdays gap to 47 which would have attracted some buyers and currently holding it up maybe?  i still feel low 40s is a good
> chance for close today..   but the markets always right




Well maybe you are right, but I see no danger in holding this over the weekend.

And if it dropped to 40c I'm buying more that is for sure!!

I see no reason not to hold this one for a while!


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## Realist (6 October 2006)

The interesting thing about PMH is it was 40c in May before the ASX correction.

People thought it was worth 40c with basically no resource, now it has $33 Billion in inferred resources people are hesitant to buy at 50c. Hahaha.


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## Realist (6 October 2006)

donjohnson said:
			
		

> Nice, wonder how they'd survive a trip to New Zealand?
> 
> Instead of a cold one i'd love to know when bl**dy CQT is going to release an announcement.
> 
> ...




Maybe you'll be thanking your lucky stars you could not sell?  If you're onto a winner, hold it!

CQT - hmm I'm waiting on that one as well!


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## donjohnson (6 October 2006)

Yea, thats true - I am holding and watching carefully.

Its been a fun ride.


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## SevenFX (6 October 2006)

donjohnson said:
			
		

> Yea, thats true - I am holding and watching carefully.
> 
> Its been a fun ride.




Can't you sell over phone with broker, without srn no....?????


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## tarnor (6 October 2006)

the 45c comment wasn't based on a chart it looked to my amatuer eye that a lot of stock was being fed out onto the 45c line yesterday.. If a large holder had marked that as a sell point and were dumping into the spike today they migth be happy to offload large portions back to the lower point of 45c.. 45c is about yesterdays high and the high held on the retrace today showing good support..   I just play these by feel looking for Spike/fall, stall and  reversal.. probably will spend a bit of time between 47 - 50  if it had a surge and broke todays high of 58 that would attract traders again.. but i dont think the buying is strong enough.. many would have entered on open  and looking to get thier money back so probably strong resistance in low 50s now..

Sure they migth have a lot in the ground but still to many unknowns. nothing wrong with trading hype tho. but if you dont have the expertise to know you should be careful when the music stops.. yet to see any really detailed analysis from someone with experience..  holding pretty well atm


----------



## donjohnson (6 October 2006)

SevenFX said:
			
		

> Can't you sell over phone with broker, without srn no....?????




Good question, i'll call them and find out


----------



## Realist (6 October 2006)

I notice on the 1 decade chart of PMH it hit $8 back in 1997!

Haha. makes this recent rise a drop in the ocean..


----------



## Realist (6 October 2006)

I bought some more at 46.5c.

I think I am going crazy!   :bloated:


----------



## johnmwu3 (6 October 2006)

PMH got crazy reserve and deserves crazy buying , so got crazy soaring.


----------



## Realist (6 October 2006)

True, maybe it is time to go crazy!


----------



## ALFguy (6 October 2006)

When the crazyness settles, this should be a good long term hold - with reserves like that!

Wasn't expecting it to drop to 45.5 c though


----------



## Realist (6 October 2006)

44c now, my gamble has blown up in my face!


----------



## StockyBailx (6 October 2006)

Does anyone know Pacmag metals _PMH can also be known as pacific Magnesium Corp (PMH). _Or is it just me. Because my Star Trader registers PMH as just that, whilse every thing and everyone else knows it as Pacmag. Does anyone know this is possible? All the vital signs are exactly the same.


----------



## nizar (6 October 2006)

Realist said:
			
		

> 44c now, my gamble has blown up in my face!




yeh same here   

maybe after it closes the gap at 41.5c then up again?

weekend press would help for monday?


----------



## ALFguy (6 October 2006)

When the panic selling stops and it's at or near yesterdays close, I would expect it to trend up again.......no?


----------



## Sean K (6 October 2006)

ALFguy said:
			
		

> When the panic selling stops and it's at or near yesterdays close, I would expect it to trend up again.......no?




I agree Alf. The resource seems pretty good to me!


----------



## Realist (6 October 2006)

It is panic selling, traders stops coming into play.

You are right that once this stops the trend should be up.

I wont beat myself up too much about not getting the lows... yet.


----------



## SevenFX (6 October 2006)

Realist said:
			
		

> 44c now, my gamble has blown up in my face!




Don't forget you've till T1 to sell b4 you pay...so there's plenty of time unless it sinks further...

I picked this up on the site...
"If your gonna PANIC, PANIC EARLY.   

I am spealing from experience...


----------



## dj_420 (6 October 2006)

yeah my gamble blew up to

in at 50 cents out AT 47
thought im not gonna lose to much money on a gamble

 

i bet now it opens on mon 60 cents plus


----------



## ALFguy (6 October 2006)

Alot of head banging going on here   

Fear factor creeping in for traders who thought it was going to have another good run today.

44c bottom? I thought 47c originally.

Still holding....all good fun  

(Give it the weekend for everyone to digest the resources they have and we'll be skywards again in no time)


----------



## chris1983 (6 October 2006)

You guys have to realise that a lot of people got burnt with CDU.  A lot of weary investors.  It will go up.


----------



## johnmwu3 (6 October 2006)

chris1983 said:
			
		

> You guys have to realise that a lot of people got burnt with CDU.  A lot of weary investors.  It will go up.



You mean it will burn again ?
Just let the fire break out ?
Let ASX extinguish the fire !


----------



## tech/a (6 October 2006)

This thread should be archived for traders to read what *NOT TO DO.*

Those that are messing around with this now are far to late.

This is a very common occurence in extreme moves in small caps.

https://www.aussiestockforums.com/forums/showpost.php?p=11955&postcount=15

This is highly likely to trade sideways for sometime after settling down.
Dont expect to see above 54c in a hurry.


----------



## chris1983 (6 October 2006)

tech/a said:
			
		

> This thread should be archived for traders to read what *NOT TO DO.*
> 
> Those that are messing around with this now are far to late.
> 
> ...




Hi TechA,

Can you explain to me why this one would go sideways.  I swear I must be missing some information.  See below.  Now I just dont get why the SP isnt flying when CDU's discovery was 17 billion and PMH's is 33 billion and it will be revised later.  Looking as if the resource will increase.

Okay I also know that CDU have much better grades but the grades that PMH has arent too bad.  They also have a higher grade section.  

"221 million tonnes @ 0.51% copper, 0.004% molybdenum (0.55% copper
equivalent"

People must think its not going to be economically feasible??  That must be the only thing that is holding them back.  But they say there are similar mines such as

"Teck Cominco's Highland  Valley Canadian mine, Quadra's Robinson mine in Nevada and Phelps Dodge Cobre-Chino and Morenci mines."


"Our Ann Mason deposit (810 mt at 0.4 per cent copper, 0.004 per 
cent molybdenum) means PacMag has one of the largest undeveloped 
deposits of its type in the American continent and during the fourth 
quarter of this year we will complete our scoping level study which will 
provide us with the details we need for mine and processing operations," 
Mr Clifford said.

And in case you still didn't get it ... "Given this new up-grade 
we can now compare favourably in size and grade to some of the biggest 
copper mining operations in the world, including Teck Cominco's Highland 
Valley Canadian mine, Quadra's Robinson mine in Nevada and Phelps Dodge 
Cobre-Chino and Morenci mines and no doubt what we are doing will 
attract international attention."


----------



## dj_420 (6 October 2006)

yeah ive been looking into it

and apparantly the deposit is below surface. i think what will hold this one back is making sure that it is feasible. i mean other resources are on the surface which is easy. i believe thats why CDU was a flyer.

correct me if im wrong


----------



## SevenFX (6 October 2006)

chris1983 said:
			
		

> You guys have to realise that a lot of people got burnt with CDU.  A lot of weary investors.  It will go up.




Chris,

I think you hit it on the head above, and tis not the the find investors are factoring in, it's the selloff sentiment that more buyers are weary.

Even the sellers are mounting up IMO.....hey but I'm just a new kid on the street...????

2 much supply (sellers), no demand (buyers).... in the short term, but I sure it will be a good portfolio stock (IMO) at the right price....

Please free to tell me otherwise....


----------



## ALFguy (6 October 2006)

tech/a said:
			
		

> This thread should be archived for traders to read what *NOT TO DO.*
> 
> Those that are messing around with this now are far to late.
> 
> ...




Even with the 'unhealthy' run it had this morning, it's still trading 8% above yesterdays close.


----------



## tech/a (6 October 2006)

chris 1983

Ever heard buy the rumour sell the fact.

Its simply a discovery nothing has been implemented there are no profits at this time and may not be for sometime---Government regs--infrastructure---a long long way to go in BOTH cases meaning CDU as well.

Simply the market doesnt agree with you all.

It will move sideways for 2 reasons.
(1) There are many caught buying at the top and the really silly ones adding on the way down.Everytime price rallies it will be sold into.
(2) The second group will be those who bought well and held through the downturn looking for it to reclaim highs---after a fair period of time patience will run out for these traders and they will dump into any rally.

When you clear all these out then the stock could slowley rise.
Id say 6-12 mths before *sustainable * new highs.


----------



## chris1983 (6 October 2006)

tech/a said:
			
		

> chris 1983
> 
> Ever heard buy the rumour sell the fact.
> 
> ...




Hmm fair enough.  Practically half the shares have traded hands though in the mid 40's. Then 52% of the shares are held by the top 20 share holders..is that right? I didnt buy up the top top.  I was in yesterday.  The price doesnt concern me untill it drops into the mid to low 30's.  If they start free falling lots of people will be looking at losses.  Could happen...I dont think it will though. 

I just want to make an assessment to whether they are worth keeping.  IMO they are so i'll hold and see how things progress.


----------



## johnmwu3 (6 October 2006)

This weekend someone may comment PMH should be priced $25 according to the ground value of its reserve, how do you think about it?
How do you think about CDU ? from 50c to $10 in one month ?
So next week people will crowded in to  buy at 80c PHM.
How is AGS from 30c to $1 ?


----------



## nizar (6 October 2006)

tech/a,

doesnt a price breakout on massive volumes trigger a buy?
and then for those unsure the gap up on volume on the next trading day confirm it?

i reckon if it closes on 45 or 45.5 or anything above yesterdays close its still bullish and has a good chance of going up (compared to something trending down, for example, id rather buy a stock thats going up then one trading down which is "undervalued"), i mean the rise wasnt to do with "hype" or "speculation", it was based on something fundamental.

and doesnt buy the rumour sell the fact means that the sp and volume goes up BEFORE the announcement. The announcement came out, and thats what triggered the run. The day before the announcement was an ordinary one.

the fact that it went from 58-44c flushed out alot of traders. When/If this gaps up on monday they will buy again... IMO...


----------



## nizar (6 October 2006)

johnmwu3 said:
			
		

> This weekend someone may comment PMH should be priced $25 according to the ground value of its reserve, how do you think about it?
> How do you think about CDU ? from 50c to $10 in one month ?
> So next week people will crowded in to  buy at 80c PHM.
> How is AGS from 30c to $1 ?




exactly.
theres nothing to suggest that this run is over, actually it just started.
has price gone down? no, have volumes dropped off? no


----------



## tech/a (6 October 2006)

Nizar.

It comes down to timeframes and profit.
Potential profit isnt worth the paper its written on.

You could all be correct and if I saw a spike from a consolidation in the future I would probably be joining you.

But until I see it I personally will stand aside.
I may miss a huge spike.
I may also have funds available for other opportunities while this wallows.

I didnt see the first move here however those that did and knew how to trade it could have been out nearer the top rubbing their hands together looking for a future opportunity with cash in hand


----------



## ALFguy (6 October 2006)

Probably not the best example but this is what happened with CDU. Many jumped out taking a profit only to find it opening higher the following day - many then bought back in I expect, and again jumped out to take a small profit.
No-one expected it to reach above $3 but with the resource estimates, ppl could see the value - hence why buyers poured in.

This company have other good assets too, including Uranium.

That said, everyone is going to be weary of diving back in on a rally now.


----------



## Realist (6 October 2006)

The silly thing to do is buy high sell low. If you paid to much just hold. There's clear evidence based on the recent release that this company is still tremendously undervalued, if you need to hold for years then so be it.  

That is why I do not use stops. There's no way I'm gonna sell and lose money on what is potentially a ten bagger!!

Even if it closes at 35c today I will hold.


----------



## tarnor (6 October 2006)

> The silly thing to do is buy high sell low. If you paid to much just hold. There's clear evidence based on the recent release that this company is still tremendously undervalued, if you need to hold for years then so be it.
> 
> That is why I do not use stops. There's no way I'm gonna sell and lose money on what is potentially a ten bagger!!
> 
> Even if it closes at 35c today I will hold.




Realist this is completely the wrong way to trade and will just lead to disaster imo, particuarly if you're buying on news spikes. Take your losses quickly, let your profits run..

While you're waiting to get your money back you're missing opportunities elsewhere..

edit| or were you making a joke and i missed the humour


----------



## Realist (6 October 2006)

tarnor said:
			
		

> Realist this is completely the wrong way to trade and will just lead to disaster imo, particuarly if you're buying on news spikes. Take your losses quickly, let your profits run..
> 
> While you're waiting to get your money back you're missing opportunities elsewhere..
> 
> edit| or were you making a joke and i missed the humour




If only we all traded the same way   

I'm buying into a company with a tremendous $33B inferred resource, the company costs only $45M.  If I let market sentiment sway me I'll be in and out losing money all over the place.  

I made the decision to buy into PMH based on fundamentals not charts. I can not let others opinions sway me. I am holding until I can sell for a good profit, simple as that! That may be 2 years away and if that is the case fine, my tax will be reduced.

The price changes today are caused by traders jumping in and out trying to make a quick buck, stop losses are triggered, panic selling happens, people sell a great propspect cause others are, they are not based on the actual company. People here are starting to doubt whether it is a good buy simply cause the price went down, they'll no doubt think it is a great buy if the price doubles on Monday, yet the company and fundamentals will not have changed at all. Basing your purchases or sales on market sentiment will only cause heartache cause it can never be predicted.  Fundamentally no one thinks this is a bad buy.


----------



## Sean K (6 October 2006)

I'm on this now too. Just had a 3rd read through the ann and it's pretty compelling. The thing that strikes me is that further upgrades to the resource are very possible. Could be a 1 billion tn ++ resource at good grades. Also, love the fact that the consultants who have completed the JORC estimate seem pretty experienced. Can't see this been halved like the CDU one. Can only get better by the look of it.


----------



## tech/a (6 October 2006)

Realist.

*A Buffet Prodigy at his best.*

Buffet would be rolling his eyes in disbelief---your company hasnt even turned a sod of soil.

Hey I hope your right for your sake hope I have found isnt a reliable analysis tool.


----------



## Sean K (6 October 2006)

tech/a said:
			
		

> Realist.
> 
> Hey I hope your right for your sake hope I have found isnt a reliable analysis tool.




Tech, Should read the ann. It's not a 'hope I have found' resource.


----------



## Realist (6 October 2006)

tech/a said:
			
		

> Realist.
> 
> *A Buffet Prodigy at his best.*
> 
> ...




Well I am a Graham prodigy, and he would turn in his grave if he saw what I did today.   


But I'll tell you something, if he knew what I did today, he'd say "fer christ sakes hold". Do not let market sentiment sway you this does afterall have potential, you may just get lucky!


----------



## chris1983 (6 October 2006)

kennas said:
			
		

> I'm on this now too. Just had a 3rd read through the ann and it's pretty compelling. The thing that strikes me is that further upgrades to the resource are very possible. Could be a 1 billion tn ++ resource at good grades. Also, love the fact that the consultants who have completed the JORC estimate seem pretty experienced. Can't see this been halved like the CDU one. Can only get better by the look of it.




Hey Kennes,

I like it too.  People are just worried on how much its going to cost to dig out.  Should be interesting to see what reports, articles get written up over the weekend.


----------



## Sean K (6 October 2006)

Ref my last post:

Unless 'inferred' is defined by 'hope I have found' of course.


----------



## tarnor (6 October 2006)

some people think its not a good buy... i see a lot of talk about grades being low and deep... personally I don't know but im not convinced their were any large players taking a big position looks like trader churn to me, undisplined ones now holding the bag..  the higher grade zone targets could be a goer and it could be huge who knows but thiers still to many unknowns for fundamental analysis. (which i know very little about )  It will probably build towards more results which migth be  agood trade and sell before their ann, re-entry if exceptional (mediocre to good will just be sold down anyway)..

Heres the daily chart if this was ayearly for any other stock where would you buy it. there was a few possible entries but you would have wanted very tight stops .. each to his own i guess but I really cant agree with your buy low sell high reasoning  :/


----------



## YOUNG_TRADER (6 October 2006)

Hi guys, I haven't read all the posts but it seems everyone was drawn to this stock after the release of Ann Mason upgrade,

PMH was formerley Pacific Magnesium (going back 3yrs) I watched them transition into the PMH they are today taking control of the Ann Mason deposit etc,

I would just like to make this point, there are quite a few large global deposits of copper, those that are already operating and literally hundreds of discovered large tonneage low grade deposits, they key is that the grades must be high enough and the deposits must be shallow enough to set that deposit aside from the 'pack' so to speak, 

Most would be aware that taking a deposit from an inferred jorc to a BFS is a 2-3 yr process (Just look at IRN's Huge Multi Billion Tonne Deposit) and alot of fundign is required along the way,

So without really commenting on PMH, I make the following suggestions,

Try and ensure that a spec resource company is 

a) Well funded or supported ie via a JV (ie IRN has Xstrata maybe)

b) deposit is of a reasonable grade (differs for different commodities) ie close to 1% for Cu

c) Even if deposit is close to 1% Cu it must be near surface and contain very few impurities to make extraction economic

d) Low grade deposits must be close to infrastructure, if not they must be really large to justify Cap-Ex (ie GCR low grade but near infrastructure)

Good luck to all


----------



## Realist (6 October 2006)

The beauty of PMH is the location, mid Western USA, and the fact it is close to trains and other miners etc.

That is far better and safer than Africa for instance.


----------



## Sean K (6 October 2006)

YOUNG_TRADER said:
			
		

> Hi guys, I haven't read all the posts but it seems everyone was drawn to this stock after the release of Ann Mason upgrade,
> 
> PMH was formerley Pacific Magnesium (going back 3yrs) I watched them transition into the PMH they are today taking control of the Ann Mason deposit etc,
> 
> ...




Hey YT,

Have you crunched the numbers yourself yet? Shares on issue, inferred resource v price of copper, etc? 

kennas


----------



## Sean K (6 October 2006)

I reckon the weekend newspapers will be all over this. Hopefully on the positive possibilities, not the downsides. Will be a very interesting open on Monday.


----------



## SevenFX (6 October 2006)

Gapped Up 143% Thursday  : 
Gapped Up 4.8% Friday....?????   
_ _ _ _  _ _ _ _  Monday....


----------



## Sean K (6 October 2006)

SevenFX said:
			
		

> Gapped Up 143% Thursday  :
> Gapped Up 4.8% Friday....?????
> _ _ _ _  _ _ _ _  Monday....




What's your interpretation of that Tek?


----------



## nizar (6 October 2006)

Kennas let me give u my version, which is self-explanatory

Gapped Up 143% Thursday   : 
Gapped Up 4.8% Friday....?????    
_ _ _ _ _ _ _ _ Monday....  D all the way 2the bank)


----------



## SevenFX (6 October 2006)

Well K,

There wasn't mean't to be any interpretation at all...just bit of humor...

I've got very little trading behind me (few months), to pick where tis going...
and keen to learn from you Kennas and many others....

To add to that you seem to through in commody in some of your posts, to keep us from falling asleep at the terminal....

For me I TRADED on the caucious and locked in profits early  , then bought and sold again, as I didn't like what I seen around .46c.  

SevenFX


----------



## ALFguy (6 October 2006)

nizar said:
			
		

> Kennas let me give u my version, which is self-explanatory
> 
> Gapped Up 143% Thursday   :
> Gapped Up 4.8% Friday....?????
> _ _ _ _ _ _ _ _ Monday....  D all the way 2the bank)




Nizar, was this a little sarcasm or do you actually believe we'll se a run on Monday?


----------



## bvbfan (6 October 2006)

I'm just started following this but I have one major concern, the thing is in Nevada and from what I can remember they have a bit of an issue with enviromentalists and getting approvals.

Heck almost any other country and I would have bought, if it was Australia it probably would have done a CDU or MNR


----------



## Sean K (6 October 2006)

nizar said:
			
		

> Kennas let me give u my version, which is self-explanatory
> 
> Gapped Up 143% Thursday   :
> Gapped Up 4.8% Friday....?????
> _ _ _ _ _ _ _ _ Monday....  D all the way 2the bank)




Well, there's a bit happening on Monday then isn't there. After the bank, we'll have to have a beer with YT after Mantra lists at $0.50.


----------



## nizar (6 October 2006)

Looks like its only up 1c for the day, brokers pushed it down a touch.

IMO the main thing is that it closed up, if it had closed at 40c (half cent down) on this volume that would be interpreted as the stock being dumped.


----------



## Sean K (6 October 2006)

SevenFX said:
			
		

> Well K,
> 
> There wasn't mean't to be any interpretation at all...just bit of humor...
> 
> ...




Great you got in so early Tek.

The rest of us will lose our shirts as Tech/A has said.


----------



## nizar (6 October 2006)

ALFguy said:
			
		

> Nizar, was this a little sarcasm or do you actually believe we'll se a run on Monday?




ALFguy,

i do think this will run monday. Of course nobody can say it will go up or down with any certaintly but i think if u consider what happened yesterday and the volume today then i think theres a good chance it will be up. Weekend press will be all over it and we could have valuations coming up as well.

look at the volume today, i think its bullish, i dont know what all the fuss is about, even though costs of mining havent been considered, after this find PMH are still worth a hell of a lot more than 50million dollars.

disc: i hold this one.


----------



## SevenFX (6 October 2006)

nizar said:
			
		

> IMO the main thing is that it closed up, if it had closed at 40c (half cent down) on this volume that would be interpreted as the stock being dumped.




Nizar,

Given it closed up 2.4% today (less that previous day), are people (traders esp) gonna be more cauious on monday, UNLESS there are great writeups everywhere...


----------



## nizar (6 October 2006)

Yeh well unfortunately at the time u buy a stock u dont know whether its gonna close up or down for the day.

It may go down on monday, and im well aware of that risk.

Im confident mantra will somewhat cushion my losses if that is the case.


----------



## SevenFX (6 October 2006)

kennas said:
			
		

> Great you got in so early Tek.
> 
> The rest of us will lose our shirts as Tech/A has said.




I didn't get in so early (.26c-.28c) but alerted by DJ's post bought in last night (.41c) and sold out on the gap up at .50c (and not .54c) oh well made a tidy profit for a change....

I'm supprised you will loose your shirt over it, if all the rules I've read (at least most of them) are applied.....

I'm sure your being humble and made a tidy profit 2, as I've read some of your posts and really respect you analysys and style.


----------



## tech/a (6 October 2006)

Tek well done.

Nizar youd better hope for a strong DJIA tonight.

This got well and truely dumped today and will do likewise (Perhaps not to the same extent ) Monday, even if a positive day.

I have some nice T shirts I can let you all borrow,and a carton of Kleenex tissues.


----------



## SevenFX (6 October 2006)

tech/a said:
			
		

> I have some nice T shirts I can let you all borrow,and a carton of Kleenex tissues.




Tech/a

I really can't take any credit for this one, as it was really not t/a but moreso luck on the gap up....which could have gone the other way....

As far as tissues and teashirts, I prob go one better and shout for beers....actually tis Chris & DonJ that should be shouting as I'm sure they're made a squillion on this one.... where are they anyway.....at the bank....

ed:better see what the world & the rest of the stock exchange is up 2 now...


----------



## Sean K (6 October 2006)

tech/a said:
			
		

> Tek well done.
> 
> Nizar youd better hope for a strong DJIA tonight.
> 
> ...




Spare one for me too tech. And a beer too. 

Oh, and don't be fooled Tek, I'm a poor man old man living with my mum, with nothing better to do than find friends on chat sites..... he he.


----------



## chris1983 (6 October 2006)

kennas said:
			
		

> Spare one for me too tech. And a beer too.
> 
> Oh, and don't be fooled Tek, I'm a poor man old man living with my mum, with nothing better to do than find friends on chat sites..... he he.




Hey Kennes,

Not believing in the potential of this stock anymore?  I'll read more heavily on this tonight.


----------



## Realist (6 October 2006)

tech/a said:
			
		

> Tek well done.
> 
> Nizar youd better hope for a strong DJIA tonight.
> 
> ...




This may end up like Paladian Tech.

You saw PDN first here, you considered buying it for pennies, but you didn't. You then saw it go up but didn't buy again and again and again.

Had you just bought and held PDN you'd have made a mint!

You missed out big time!!  That thread is an excellent example of how not to trade.  If you see a winner buy and hold it, you will often be wrong, but when you are right you may have yourself a ten bagger that will make up for all your losses and more.

PMH is in my opinion a very valid gamble, I may lose 1/2 of my money, I may make 10 times my money though.

$33B for $45M.

I'll take those odds any day.

I'm down today on it, I made a mistake, but i will not let that mistake compund, I am holding this baby!!


----------



## Sodapop (6 October 2006)

I leered/ogled at this one for sometime this morning and went through some reports - didn't buy... it looks big at this stage but the low grade didn't really _"pump my nads"... _ the release leveraged as much +ve spin as possible off other operating mines - but how long will it take for this to come anywhere near production (cap cost will be huge / where will Cu/Molyb. price be???)... On the face of it it reminded me of EQN's Luwamba (sp?) Mine Project in Zambia - which had a market cap of ~$10m around 3-4years ago at the same stage of development and is even now after a lot of work some way off...
But yeah, i think the CDU (and to a lesser extent) the FNT fiascos have made some gunshy - i know that is what kept me from joining your ranks...

Then again he who risks nothing - gains nothing... I know i sold out of EQN way before i should have -


----------



## Realist (6 October 2006)

Well it is a risk, we all bought it knowing that. We may lose money and have egg on our faces, but if you wanna make money trading you gotta buy some shares and this company is as good as any to buy at the moment I think. The downside is low with such a small market cap and such a good inferred resource, the upside is huge. I'm hoping anyway.


----------



## tech/a (6 October 2006)

> You saw PDN first here, you considered buying it for pennies, but you didn't. You then saw it go up but didn't buy again and again and again.
> 
> Had you just bought and held PDN you'd have made a mint!




Tich tich tich,Realist-----leave one on to the next.
Here in lies the difference.
I dont trade would have's could have's or should have's.
I'm in or out,right or wrong, profit or Smallest possible loss.
While PDN was doing its thing I was off doing other things.
If you think the downside is small on this stock ask someone who bought 100000 at $.52c whos held and currently down $9k.

Sure it COULD reach the sky,it COULD fall further,and it should in my veiw do very little in the next few months.

It may well have huge upside and if I pick it up if and when it moves I'll join in but not before

*For further education read this thread and then check its current price.*

https://www.aussiestockforums.com/forums/showthread.php?p=77971#post77971

.


----------



## Realist (6 October 2006)

Fair enough Tech, we'll have to wait and see.

I am confident though..   : 



> If you think the downside is small on this stock ask someone who bought 100000 at $.52c whos held and currently down $9k.




You may find that person makes a mint off this, it aint over yet!!


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## chris1983 (6 October 2006)

If anyone missed on paladin.  You still have a chance to get onto Bannerman  (BMN).  They went down today though.

Okay well back onto PMH.  The whole fiasco of it being economic or not is what people are worried about.  I have tried reading up..finding articles..but cant really find anything.


----------



## johnmwu3 (6 October 2006)

Chris, BMN already got a big rise, could you pay some attn. to CUY, how do you think about it, maybe it got a huge potential.
Cheers,
John3


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## chris1983 (6 October 2006)

johnmwu3 said:
			
		

> Chris, BMN already got a big rise, could you pay some attn. to CUY, how do you think about it, maybe it got a huge potential.
> Cheers,
> John3




Yeah I know John.  I think BMN will go further thats all.  Ill check out CUY and post in the CUY thread later tonight or tomorrow.

Anyway I want the opinions of all you experienced traders!  What are your thoughts on this resource being economical.  This is a huge resource.  The whole topic of it being "economical to mine" is what pushed them down today.


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## ALFguy (6 October 2006)

chris1983 said:
			
		

> This is a huge resource.  The whole topic of it being "economical to mine" is what pushed them down today.




Do you really think that was the reason Chris?
I suspect traders were simply watching the buy/sell depth and making calls on which way it may trend.
It'll be the investor types who are thinking about the potential.

All I can say is I think it's got huge potential simply for having this size of a deposit and in all likelyhood there will be future announcements increasing the resource.

Hopefully there'll be some media coverage over the weekend so we don't see a sell off Monday.


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## johnmwu3 (6 October 2006)

Mining news:
PACMAG Metals has added 64% more copper to the resource at its Ann Mason copper-molybdenum-gold deposit in Nevada, with the good news flowing on to its share price ?which jumped just over 62% in morning trade.
The company's new inferred resource for Ann Mason contains 810 million tonnes at 0.4% copper and 0.004% molybdenum (using a 0.3% copper cut-off) and includes a higher grade zone of 220Mt at 0.51% copper and 0.004% molybdenum (at a 0.43% copper cut-off). 
A previous estimate of the deposit was completed in the 1970s by Anaconda Copper. 
Pacmag managing director Michael Clifford said the 3.2Mt of contained copper in the deposit had an in-ground value of $US25 billion ($A33.5 billion), based on current metals prices. 
"We own 100% of the Ann Mason copper-molybdenum-gold deposit, which is close to rail and power and is in Phelps Dodge's backyard, located in what is considered the most attractive location for mining investment in the world," Clifford said. 

"Our Ann Mason deposit means Pacmag has one of the largest undeveloped deposits of its type in the American continent and during the fourth quarter of this year, we will complete our scoping level study, which will provide us with the details we need for mine and processing operations."

The good news continues for Pacmag, with current drilling indicating the deposit is open at depth, and two new large northwestern resource targets have been identified where previous drilling intersected high-grade copper mineralisation of up to 10.5%. 

Better intersections from the new targets include 20m at 1.11% copper, 302m at 0.81% copper, 0.08 gram per tonne gold and 1gpt silver, and 220m at 0.68% copper and 1gpt silver. 

In addition, Pacmag is assessing new regional targets in the Ann Mason area, which the company said "will have synergy with any potential future operation" in the region. 

The Ann Mason project consists of a total of 80 unpatented mining claims covering a deposit discovered in the 1970s by Anaconda. 

Shares in Pacmag are settling down from today's high of 30c and are currently at 27c at midday trading today. The stock began the day trading at 18.5c.


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## nizar (6 October 2006)

tech/a said:
			
		

> It may well have huge upside and if I pick it up if and when it moves I'll join in but not before




what do u mean, when it moves? hasnt it already moved? wat makes u think the move was over?
what would have stopped u from buying it at 54 or 55c this morning?
(obviously at the time u wouldnt have known that it would go back to the low40s)


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## nizar (6 October 2006)

tech/a said:
			
		

> Nizar youd better hope for a strong DJIA tonight.




wouldnt u face the same risk buying any stock on a friday and holding over the weekend?

(no disrespect intended)

as for DJIA, im confident:



> WASHINGTON (MarketWatch) -- The U.S. economy may be slowing as a result of a weaker housing market, but the September job report will show it hasn't toppled over, economists said Friday.




A sign of a slow, steady, Soft-landing for the economy
Another win for the bulls


----------



## tech/a (7 October 2006)

Nizar.

Its bolted. But when I saw it at 42c after a gap up of 60% it was too risky for me--but thats me.
I've seen 100s of these and its in a typical blow off right now.
A weak day monday will see more panic selling.

Yesterdays open at 54c and close at 42.5 on its days low *with far more volume that the intitail breakout* (Everyone has over looked this).
Shows sellers were selling into buyers not the other way round.

It will pull up when there becomes a balance between buyer and seller.My bet is as low as 32.5c then it could well hover for who knows how long.

There is no production only a discovery so way way off from profits.
But all you Fundies know that anyway.

*General thinking in a fast pull back.* As it falls.
(1) Profit takers--"They dont know what they are throwing away"
(2) "Fantastic an opportunity to but more"--many do.
(3) Bugga what are these idiots doing they cant value a deli!
(4) Hmmm down 35%,I'm in early so thats chicken feed.
(5) I'll sell some to lighten the load.
(6) Hell down 50% no way am I selling these babies into the bottom draw,they'll come good!!

Its pretty easy to spot those caught.
They look for every piece of positive news they can find.Every reason to support their views.Plenty of that here.

Those that arent caught in the hype can actually see reasons why things may not be as rosey. Funny that.



> Well it is a risk, we all bought it knowing that.




*Fine but what did anyone do to MITIGATE that risk?.*

The only risk control Ive seen here is hold it in the bottom draw until it makes a million.
Hell at a 300% return in 2 days how much do you people expect to make.
Id take 20% a day day in day out! Greed,just like the pokie player,"In goes another $50 it will pay --IT HAS TO.

Whats happening is people are investing when they should be trading.

I honestly dont think most here wanted to invest they have just found themselves in a position where taking losses would be too painful so in comes the investment plan.---They are then left with less funds and in some cases no funds to trade with.


----------



## SevenFX (7 October 2006)

tech/a said:
			
		

> It will pull up when there becomes a balance between buyer and seller.My bet is as low as 32.5c then it could well hover for who knows how long....




Tech/a

Is this there support you refer to....?????

Any feedback welcome on my charts...as still have my "L" plates for few more years to come....  

edit: 3 chart edits later


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## chris1983 (7 October 2006)

tech/a said:
			
		

> Its pretty easy to spot those caught.
> They look for every piece of positive news they can find.Every reason to support their views.Plenty of that here.
> 
> Those that arent caught in the hype can actually see reasons why things may not be as rosey. Funny that.
> ...




Tech-A seriously what is your problem?  I read (researched) a lot on these before i bought in.  I didn't see any risk at all in my mind.  Most of my decisions over the past 6 months have done very well.  My two major holdings are in BMN and AOE.  You go work out the maths.  If I believe the potential is there I will buy.  If I believe the potential has gone I will sell.

I know I'm one of the people your talking about when you say



			
				tech/a said:
			
		

> Its pretty easy to spot those caught.
> They look for every piece of positive news they can find.Every reason to support their views.Plenty of that here.




Course I'm going to try support my views.  I havn't lost for awhile and dont like losing.  My views mean jack when influencing the SP..but I wrote in here to see what people thought of its potential.


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## SevenFX (7 October 2006)

chris1983 said:
			
		

> Tech-A seriously what is your problem?




Chris, 

I think the beauty of being involved in any forum, is that people expres their points of views, as I welcome anyone to share their point of views...as I/we can all learn from them....

If we supress one poster, that not fair on everyone and the poster concerned.....Even "Relist" which seems to get a hammering (sorry relist) is entitled to have his view and stragerty...IMO.

I have lost **** loads of money and can't beleive how right Tech/a has replayed my thought process in the past months....and only wish I had read for months first here, and not traded...



			
				chris1983 said:
			
		

> I didn't see any risk at all in my mind.  Most of my decisions over the past 6 months have done very well.  My two major holdings are in BMN and AOE.  You go work out the maths.  If I believe the potential is there I will buy.  If I believe the potential has gone I will sell.
> 
> I know I'm one of the people your talking about when you say
> 
> Course I'm going to try support my views.  I havn't lost for awhile and dont like losing.  .




Chris, with no disrespect to you, IMO my past performance is not necesseraly a going to guarantee my future performance....

I been thought, charts don't lie, and my chart view is only one view, so pls put up what you see so we all can see a different view.

Unless your Investing and on fundermentels, whic is totally differnet reason to hold this little baby....

IMO I ould hav still coped my loss earlier ( which I haven't done so many times) and tried to buy back in at the bottom of this trend...

Just my opinion... so pls don't shoot me down.... as everyone appreciate each others views, even if yours is different.

edit: I have come off so many flaming post sites, where that mentality breeds rampently, and wouldn't go back there, as it's such a big waste of time, and draining.

SevenFX


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## nizar (7 October 2006)

tech/a said:
			
		

> Nizar.
> 
> Its bolted. But when I saw it at 42c after a gap up of 60% it was too risky for me--but thats me.
> *I've seen 100s of these* and its in a typical blow off right now.
> A weak day monday will see more panic selling.




Experience is priceless.

Iv just seen a couple of these and theyve kept going up, and up, and up.

[/QUOTE=tech/a]Yesterdays open at 54c and close at 42.5 on its days low *with far more volume that the intitail breakout* (Everyone has over looked this).
Shows sellers were selling into buyers not the other way round.[/QUOTE]

Maybe so, pity i didnt know about what the close would be and what the final volume would be at the time i bought some.
(Yeh, i probably shouldve got "stopped" out - but i didnt want it to hit my stop and then start bolting)

Im up heaps in the last 18months, if i make a loss here, so be it.



			
				tech/a said:
			
		

> There is no production only a discovery so way way off from profits.
> But all you Fundies know that anyway.




What makes u think that a company needs to be near production/profits for the share price to go up or keep going up?

Your experience again, it must be... damn i gotta get me some of that...


----------



## nizar (7 October 2006)

SevenFX said:
			
		

> IMO my past performance is not necesseraly a going to guarantee my future performance....




Thats not your opinion bro, thats FACT. But having a good performance in the past gives you confidence in your system for picking winners. Just like what tech says, if historically uv been able to pick 60% winners, then u dont know whether a trade will be a winner or a loser when u enter it, but u take confidence in the fact that 60% of the time, it will be a winner.



			
				SevenFX said:
			
		

> I been thought, charts don't lie, and my chart view is only one view, so pls put up what you see so we all can see a different view.




Charting is not a exact science, what u see depends on which TA indicators u are looking for.


----------



## chris1983 (7 October 2006)

Eh better to just leave this blank.


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## chris1983 (7 October 2006)

I'll end up saying something and making enemies so I wont say much.

I just want you to know I didnt buy into these as a gamble.  I actually did some serious reading before jumping on.  Thats why I referred to my other stocks because I researched them hardcore before jumping in also. Im not on a loss as of yet..but could be if these get hammered first thing monday.

The fact is they have 33 billion in ground value.

The unknowns are the costs involved with digging it out and whether its economical or not.

A lot of talk has been negative towards the costs of digging it out so Monday should be interesting.


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## SevenFX (7 October 2006)

nizar said:
			
		

> Im up heaps in the last 18months, if i make a loss here, so be it.




Well time [[generally]] will turn this loss into a profit, ESPECIALLY when the companies find is so great...so amybe if your not holing 2 much, it may pay to put them into you investing stock (bottom draw for now)

Or of course sell if it opens lower, and buy back in, if your bullish then...????

Sorry nizar, you guys are years/miles ahead of me, but I'm just expressing my thoughts so I can get different points of views....

p.s forgot to put resistance lines in, for MONDAY.....   but couldn't work out how to move the captions around the middle of the page for the resistance captions....

EDIT: ENJOY the SUNNY weekend Guys... :


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## Realist (7 October 2006)

Well, if someone had come to me on Monday and said "hey I know a company with a market cap of $60M that is just about to release news they have an inferred copper resource worth $33 Billion, they have significant upside potential to increase the resource grade. The mine is in Nevada, close to other mines, electricity, and rail. The company owns 100% of the deposit, and all permits are in place to commence drilling."

Then they ask "do you want in at 60 cents a share?"        ($60M market cap)

I'd say "Yep, it is worth a punt".


Just because the share price only went up slightly on Friday does not mean this is a bad buy.

Sure we could have got it cheaper, and sure I should have bought Microsoft 20 years ago. 

Trading and investing is incredibly simple in hindsight.

I didn't get the low on PMH, but I am happy with my purchase. It could easily rocket on Monday!


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## tech/a (7 October 2006)

I'm simply giving a veiw of CURRENT price action.
If you've bought and it seems some have for the longer term then thats fine.
But what I saw here was discussion around the last 2 days price action,the only time I saw long term hold for future growth was when I gave my veiws.

Those holding long term may well do very well.
On the other side it may stall and you'll find the recient high very difficult to breach.
My comments are based around evidence in this thread that short term gain was/is the order of the day.




> Thats not your opinion bro, thats FACT. But having a good performance in the past gives you confidence in your system for picking winners. Just like what tech says, if historically uv been able to pick 60% winners, then u dont know whether a trade will be a winner or a loser when u enter it, but u take confidence in the fact that 60% of the time, it will be a winner.




This is very true at the time of purchase we dont know how high it will potentially go or when it will do it. short term I personally love to be on a flyers that can return X% very quickly---we all do.
My point again here is that very few have shown any risk mitigation strategy.



> I been thought, charts don't lie, and my chart view is only one view, so pls put up what you see so we all can see a different view.




The chart itself will do what it does the analysis can "Lie" as analysis is subjective. Its what you do when you get it RIGHT and what you do when you get it WRONG that makes the difference.

I'm glad of the flak will make my thread interesting on these sort of trades in the Trading systems section.

*Chris*
This is not a personal attack,you are committed to your view and will act accordingly.I dont blame anyone who has taken this stock as a long term hold for their view.Time will tell.
If I had been able to purchase around 30c ish then I would have been out yesterday early at around the open price (I'll be showing the technical analysis for these exits in the thread.) I would have profit to 54C.

I would now be leaving the trade for others and placing this on the watch list.
The last thing I want to do is hold a position falling OR moving sideways.Thats capital tied up and not working.

Again this is MY view,its not yours,Nizars or Realists,it is offered as an alternate veiw. Something for some to think about.

Dont have charts with me so will put up some chart analysis when I can.


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## Sean K (7 October 2006)

Well, I'll be dumping it if it doesn't rise on Monday. Under $0.40 and I'm toast. Will sell at $0.55 for next weekends beer money.


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## Realist (7 October 2006)

Fair enough Tech.

I never buy a stock that I am not prepared to hold for many years for this very reason.

I screwed up the entry price no doubt about it, but the fundamentals of this thing should see me right longterm.  In the context of the companies value I did not pay too much.

I bought Westfiled and they dropped 6%, Fosters and they dropped 6%, Rinker and they dropped 5%, bought some CQT and they dropped 20%, bought BHP and they went up then dropped massively, same with many other shares - But on every one of them I am now ahead!  

I hope this is the case with PMH. Monday will be an interesting day, I have PMH to watch and USA floats as well.   :


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## chris1983 (7 October 2006)

Tech-A When I researched this initially I liked them.

Now that ive researched them even deeper and gone into the history of it etc I'm not sure.  It wasn't developed earlier due to the costs of digging it out.  

Long Term may or may not pay off.  Like I said ill have my stoploss on them. In the longterm they may be great but im not prepared to see them go back to the 20's.  Its like all the new uranium plays coming back on the market.  All the older deposits at lower grades are quite valuable now because they believe uranium prices will drive higher and wont fall for some time. Maybe this deposit at Ann Mason is able to be developed at current Copper prices.

They will always need copper into the future though.  China and India are booming..who knows eh.  I was sure on these to be a win when I first bought them...now that feeling has turned into.."im not so sure..ill have to see what happens"  So I'll watch them closely on Monday.  

I dont trade on charts etc etc I trade on my own opinion of a stock and its in the air with this one.  I like seeing all you guys on the forums do your charts though.  Seeing the breakouts etc..but yeah I dont buy in based on the charts

I just cant figure out why it wouldnt be economical to dig it out.    I like to analyze everything.


----------



## donjohnson (7 October 2006)

SevenFX said:
			
		

> Tech/a
> 
> ...As far as tissues and teashirts, I prob go one better and shout for beers....actually tis Chris & DonJ that should be shouting as I'm sure they're made a squillion on this one.... where are they anyway.....at the bank....




Would love to have been - though as I said I can't sell without my SRN number, being issuer sponsored is my curse.

I would have locked in my profits on Friday morning and left the rest run.

I still believe there is room for this stock to run, it will be on peoples watch lists, people will know the PMH name and it WILL attract attention when news is released.

Cheers...


----------



## tech/a (7 October 2006)

I certainly enjoy reading the Fundumantal stuff you all find.Like you I guess the Technical side is nice to veiw so is the Fundamental to me.

*Don*
Know  guy who has been trading locking in profits for years he does it with a twist.

He initially 15 yrs ago started with $10,000 and used to trade 2 stocks max.
He now trades Margin with $100K down and Leveraged 3:1 and now trades only 3 at once.

This is what he does--really simple but I think very clever.

If and when a stock increases by 100% he sells his initial outlay and re finances any losses he has had in that time and lets the rest run indefinately on that trade.

So say he had bought at $1 and its now at $2 he and in the time that that trade went to $2 he had 7 x 2% losses (Just a guess as an example).
He would re stock his bank and let the profit run.

Now if the stock said buy again and he wasnt committed he would and has bought the same stock again---usually later if and when it triggers a buy.

Over 15 yrs he now has quite a stable of stocks which he trades on profit
his initial capital is always kept intact.

He has many very old and very profitable trades.Some rise some fall and some have been delisted 2 I think in 15 yrs.I dont know what the portfolio is worth but he is very happy with his "retirement fund".

Here is a chart to look at.
Best of trading on this one everyone.


----------



## nizar (7 October 2006)

Thanks tech.

So down to 35c and then.....?
I'll be very suprised if this goes down to the 20s - come on, i mean, that news has got to be worth something!


----------



## Beethoven (7 October 2006)

I think this company fundamentally is a good stock to have in the long run.  I also agree from experience what tech/a is also saying especially when there is a big hype about a stock.  An eg of this is toro which went up due to the hype of uranium in the news.  The stock shot up to 1.6 and toro never even dug a hole.  Toro atm now is at 70 cents.  IMO this stock will go down a little in the short term but it might not go down as much as tech/a says.  In the long run this stock is great fundamentally and will continue to have an upward trend. This is just an opinion and i am no expert chartist.


----------



## Halba (7 October 2006)

wtf the copper grades are way less than 1%. what a joker of a company  :iamwithst  :homer:


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## Beethoven (7 October 2006)

Halba said:
			
		

> wtf the copper grades are way less than 1%. what a joker of a company  :iamwithst  :homer:




lol i agree but its the tonnage that has got peoples interest atm


----------



## nizar (7 October 2006)

Beethoven said:
			
		

> I think this company fundamentally is a good stock to have in the long run.  I also agree from experience what tech/a is also saying especially when there is a big hype about a stock.  An eg of this is toro which went up due to the hype of uranium in the news.  The stock shot up to 1.6 and toro never even dug a hole.  Toro atm now is at 70 cents.  IMO this stock will go down a little in the short term but it might not go down as much as tech/a says.  In the long run this stock is great fundamentally and will continue to have an upward trend. This is just an opinion and i am no expert chartist.




yeh but see with toro how it tripled on the open to 75c+ and then the next day IT STILL DOUBLED to $1.60 (the high).

speculations a bi*ch but hell if u can make money from it why not. I milked toro to pieces. here i may get it wrong but as long as ur up overall then its all good.

u never really know when a stock will stop running until it does in fact stop running.

how was i 2 know when i bought into this stock that it would close on the low? it couldve closed at 65c white candle and the music keeps playing.


----------



## chris1983 (8 October 2006)

Well guys,

All I can say is there has been some serious down ramping of this stock on other forums.  Misleading information being posted..etc etc.  Not done on purpose but its still information that may affect some investors judgements putting negative sentiment onto the stock.  Who knows what could happen monday.

Comparisons are being made to FNT resources for eg.  

*"FNT has inferred 570,000 tonnes at 650 + metres deep of copper at 0.4% inferred.

PMH has inferred 810,000 tonnes from 97m to 880m + of copper at 0.4%. The inferred went up by 64%. 

PMH's price should be half of what it is IMO and pro d/trader's, perhaps with a few helping hands via prominent broking houses, took the momentum monkey's out.

GIR sold to a company with little to offer except a placement to the inner circle. Every month there is one.

It was a calculated sting IMO but luck to those that got in early ala FNT.

PMH is a massive sell until she in the 20s again IMHO.

Have you checked FNT's current market cap? LOL"*

I wrote back politely and rectified the facts.

*"I wanted to let you know you have got the figures drastically wrong which may mislead people.

Pacmag have an initial Ann Mason resource of 810 Million Tonnes at 0.4% Copper. If you look at the comparison with Frontier they have a revised estimate of 108 Million Tonnes at 0.47% Copper equivelant.

Now just in Pacmags higher graded Copper equivalent they have three times more copper than what Frontier have. If you work out Pacmags entire inground resource they have 6 times more copper in the ground than what Frontier have. 

Frontier have a market cap of 10 million whereas Pacmag is just over 40 Million.

Pacmag are in a way better area being Nevada. Frontier is in Papua New Guinea which would be a tougher place to develop a mine.

One thing I will say. I am not sure whats going to happen with them because we don’t know if it is financially viable to mine what they currently have. But based on the sized comparison of the inground values Pacmags has a lot more value in ground than what you have previously stated."*

After doing comparisons with Frontier I believe Pacmag could still have a steady rise.  Initially they could get hit..people selling out..getting scared.  If only we could predict the future


----------



## tech/a (8 October 2006)

> Initially they could get hit..people selling out..getting scared. If only we could predict the future





There is no need to predict the future you just have to know how to trade these so that when your in one you know what to look for. Fundamantally youd have been out at around 52c and looking for an re entry if thats what you wanted---profit in hand. For most its hold and hope!!
If anyone is at all interested this is what to look for its also another chart so as you can see happens regularly.

https://www.aussiestockforums.com/forums/showpost.php?p=11955&postcount=15



> u never really know when a stock will stop running until it does in fact stop running.




It stopped running at 56c.
If a trader bought a stock at 56c and held it through a drop to 42.5c in a single day,most would say he got it wrong,not only that but he was silly enough to hold it without a stop.
Well in my veiw those that held this as its been sold off EVEN WHEN IN PROFIT have killed a windfall.

100% rises in a day should be sen for what they are RARE!
Having said that More sellers saw this opportunity for good profit than did Friday buyers,so did a few here.


----------



## tarnor (8 October 2006)

i'm dissapointed that i didn't hold it overnight. was preempting it to get nasty press mentioning low grade and accusing them of having dodgy ann like others of late. still made a killing selling out on announcement day. will look for a quick trade on a bounce mon/tues and then leave it alone.


With announcement trading and catching these rediculous runs. A very simple thing to look for which is usually a winner is the breakout of the opening spike.  After a big announcement the interest will surge and thiers always  a big gapup but they rarely continue straight on usually falling back  momentarily (5./10 minutes) off thier opening high.  If a whole lot of traders hit it in the preopen they might be stuck on the high and a little bit of resistance will build up as they think they got it wrong and want thier money back.

*very easy to get caught out on medicore announcements when the volume suddenly drys up 10 minutes after open, so traders are wary about being stranded*

  If you believe the announcement is something special, bs run/hype worthy picking up the shares  in that initial little pull back is probably okay but usually its best to wait for the initial open price to be broken strongly when that gets churned through its usually blast off and the chasing will start.  Seen the same thing happen over and over every now and again but if you go looking for one of these stocks you will get burned buying into mediocre spikes.  After a while you willbe holding dogs waiting to get your money back and be vowing never again.

As far as when to sell look for a stall in movement, volume to slow up then the reversal.  Good announcements will run towards close as punters are expecting great coverage overnight and another gapup in the morning, which is usually the best time to sell is 5/10 minutes after the open or in the match out.  Would have to be something pretty amazing for it to continue to run days on end 

If thiers something dodgey about the stock, its good to sell late on the day of the announcement i got this one wrong on pmh and missed a bit of profit but meh..

Before you buy after an announcement you should always check the chart and see how much price and volume has risen before its released.  The last thing you want to do is be buying when everyone is selling into the fact. check for previous runs with big volume and stranded buyers.  Sure some announcements will still go ballistic even if theirs pre runups in price with volume but its soemthing to factor in..

dont know if that helps anyone but I got pasted when i first mucked around with these sort of stocks.. need to be quick to bail if you get it wrong. Thiers always another bs stock which will have a big run just a matter of being patient so no point hanging on in hope waiting for the hype to come back


----------



## tech/a (8 October 2006)

Tanor.

Some good stuff here.
Combined with some technical trading ideas I'm sure that your method could be improved even more.
Be interested in your veiws when I start the thread on Outliers.


----------



## Realist (9 October 2006)

Hmm it is getting beaten like a red headed step child this morning.

Got down to 39.5c.

Ahh my biggest trading mistake ever.    

Damn it, I'll just hold and hope!    

The fundamentals are still good, and the price is still low. I aint selling yet.


----------



## Realist (9 October 2006)

Bouncing back up to 41c.

Keep bouncing!!


----------



## ALFguy (9 October 2006)

I'm surprised it's holding....really thought it might tank this morning.

Still, the day is young.


----------



## johnmwu3 (9 October 2006)

Maybe up in the pm trading.
The up trend is strong ?


----------



## Realist (9 October 2006)

ALFguy said:
			
		

> I'm surprised it's holding....really thought it might tank this morning.
> 
> Still, the day is young.




Where's the faith?

It was 40c 3 months ago before this absolutely huge announcement.

It is a good buy for 40c - it has $33,000,000,000 worth of inground copper fer christ sakes!


----------



## chris1983 (9 October 2006)

Guys this is holding well.

This is a good spec play.  All the scaredy cats got out in the morning.  Its got some good support.


----------



## SevenFX (9 October 2006)

Tis certainly looking better guys for now despite the sellers depth and rel; small volume.... b vs s are starting to balance out now....


----------



## Realist (9 October 2006)

johnmwu3 said:
			
		

> Let's see it up to 60c--80--100c !




I'll be happy with 45c at close of play today..    :casanova:


----------



## johnmwu3 (9 October 2006)

I guess close at 47c today !


----------



## JoshyJ (9 October 2006)

I'm guessing close, close to friday's close then a quick rise tommorrow.


----------



## Realist (9 October 2006)

I''ll take a conservative guess at 44c today, then Fridays close will be 51c.

It may take weeks or months for it to get a good run...


----------



## Sean K (9 October 2006)

Not going as I expected so I'm out. Good luck gents. And Realist.


----------



## Realist (9 October 2006)

kennas said:
			
		

> Not going as I expected so I'm out. Good luck gents. And Realist.




You lose much?


----------



## JoshyJ (9 October 2006)

Realist said:
			
		

> You lose much?




Dont know about him but i lost a fair bit. My sell is the low of the day.   

I guess the negative talk and the panic sell in the morning got to me.


----------



## Realist (9 October 2006)

JoshyJ said:
			
		

> Dont know about him but i lost a fair bit. My sell is the low of the day.
> 
> I guess the negative talk and the panic sell in the morning got to me.




Bugger!


----------



## Sean K (9 October 2006)

Realist said:
			
		

> You lose much?




No. Few bucks. 

I was expecting more hype about this over the weekend and for heaps of volume today, hopefully driving it up..... Didn't mind the early drop but the volume just isn't there at the moment. Seems to be a general lack of interest really which is surprising.


----------



## johnmwu3 (9 October 2006)

I wonder there are no Articles about the PMH  in the weekend, PMH should be the biggest Cu mine discovered since last 20 years, when CDU come out the results of it's Cu mine , lots of articles and some even think CDU may priced 25$ per share.
Anyone noticed this ?


----------



## chris1983 (9 October 2006)

Too many downrampers all over the place on other forums etc etc sparked the sellout this morning.  I had a sell in at 40.5 when they went to 39.  Cancelled it when I could see the decent support.  Im still watching it carefully though.


----------



## Realist (9 October 2006)

The market often under-reacts to news. This is a perfect example.

It stormed up to about 58c then tanked to 39c.

Which is quite ridiculous because in May people were willing to pay 40c before the massive announcement.

It is a weird one!


----------



## nizar (9 October 2006)

thats speculation for you realist
i lost a pile with this one, i mite put up a thread later on how NOT to trade


----------



## Sean K (9 October 2006)

I can hear Tech A snickering out there, saying 'I told you so, he he'.


----------



## chris1983 (9 October 2006)

I think it will end positive by the end of the day.  A lot of people will say the retrace had to happen after having such a sharp rise.  Sellout this morning..there has been good support.  Good spec play...can bring big rewards.  If it fell back under 35 its worth a buy IMO.


----------



## johnmwu3 (9 October 2006)

PMH ----CDU
IMO,  PMH got more exploration licence, including Uranium,PMH has more potential than CDU:
Ann Mason is one of many their project for this quarter. 

Checkout their Fourth Quarter Activities & Cashflow Report. The outline:
1. Blue Rose JV (South Australia) – PacMag Earning up to 75%
Previous drill intersections starting from 8 metres below surface such as 48 metres @ 1.0% copper and 0.21 g/t gold highlight the potential of the project

2. Olary Copper-Gold-Uranium Targets
High grade uranium rock chip sample (2.2% U3O8) including associated iron-oxide copper gold-uranium targets of the Olympic Dam style will be completed in the 3rd quarter 2006.


3. Uranium
Holds 100% interest in six exploration licence applications covering uranium endowed palaeochannels in the north Yilgarn Craton located in Western Australia.

4. Corktree (Western Australia) – PacMag can earn up to 75%
The area has previously been explored by WMC and CRA, whose drilling returned samples including 24 metres @ 0.22% copper, 16 metres @ 0.26% copper, and 3 metres @ 1.6% copper.

Status: Drilling proposed at Corktree

5. Arrino (Western Australia) – PacMag 100%
The Arrino prospect is located in the Irwin sub-basin, 250 kilometres north of Perth. Known copper mineralisation at Baxters has previously been subjected to exploration by MIM, BHP and CRA, including geophysics and limited drilling (better intersections include 4.5 metres @ 2.35% copper).

Couple weeks or next 2 months will be interesting. As more result out for Ann Mason, Blue Rose JV , and Olary Copper-Gold-Uranium Targets.


----------



## nizar (9 October 2006)

kennas said:
			
		

> I can hear Tech A snickering out there, saying 'I told you so, he he'.



if im not mistaken, tech/a called 32.5c for today
he still has 3 hours to be "right"


----------



## tech/a (9 October 2006)

nizar said:
			
		

> if im not mistaken, tech/a called 32.5c for today
> he still has 3 hours to be "right"



 No I actually thought from current analysis that over time it could retrace back to that sort of area ---its on the chart I posted.
Progression over the high of 56c I cant see happening in the near future.



> I can hear Tech A snickering out there, saying 'I told you so, he he'.




Again no I was and still am presenting a technical view from past experience with these type of moves.. I dont like seeing anyone get caught.

Volume has pretty well dried up,trade numbers(of trades) are also down so most of the panic seems to have left it, resistance is at .43 and support at .41c
So today really a non event. my bet is that it will either tank if the DJIA or Commodities take a hit,or drift slowley into oblivion for a while.

I'm actually quite a placid duck.---that bites.


----------



## donjohnson (9 October 2006)

Some further news from an investment site aimed at the resource sector. Number one story.

http://www.resourceinvestor.com/pebble.asp?t=1


----------



## SevenFX (9 October 2006)

tech/a said:
			
		

> I'm actually quite a placid duck.---that bites.




And also has a sense of humor, despites the other ducks quakking and snapping all over....


----------



## Realist (9 October 2006)

nizar said:
			
		

> thats speculation for you realist
> i lost a pile with this one, i mite put up a thread later on how NOT to trade




Did you sell though Nizar?    

The sellers have dried up, should hold in low 40's for a while, before it storms up (I hope).


----------



## chris1983 (9 October 2006)

Haha patience Realist.

I think it will go further.  There really hasnt been any negative comments made in the media for this one.  It all seems positive.

Just negatives coming from all the supposed "pros" in the chat forums.  Get real.  This one has a real chance.  If it does get hammered though I'll have my stoploss.


----------



## tech/a (9 October 2006)

> I'll have my stoploss.




And out of interest where would that be set at??


----------



## chris1983 (9 October 2006)

ill jump out if they broke down past 35.

I actually nearly sold at 40.5 this morning.

I cancelled after I saw there was quite a bit of support for the stock.

I dont put all my money into these kinds of stocks tech-a.  mayb 4 grand etc.  If I lose a grand so be it.  This has the potential to 3 fold IMO.

Type of stocks I would have larger holdings in are AOE


----------



## tech/a (9 October 2006)

Fair enough.

I would have taken the profit and a 25% hit on initial parcel size would be un acceptable to me regardless of potential.
Goodluck---do you have a time stop? Ie how long would you hold between 50c and 30c ?


----------



## chris1983 (9 October 2006)

I always hold a stock untill I think one comes along with better potential.  Thats about it really.

Unless I see something I really like...then I'll hold long term.  I really liked Bannerman and made comparisons to Paladin.  No way am I selling them. I sold half of my holding at a 100% profit to cover my outlay.  Thats one thing that I would consider doing. I wont sell AOE either.  You trade differently thats all.

I have held some stocks such as Bannerman and they are now showing an 800% return.  I like to pick a good one and leave it.  I cant trade.  If I stuck to grabbing a 25% profit on my stocks my fund wouldnt be where it is atm.


----------



## chris1983 (9 October 2006)

I'm only a small player in the market.  Maybe when i have 200 k+ in there I would put more money into a stock and grab those 25% gains.  ATM though im still building my fund up.

This one has a chance to double.  Thats why I got in.  If it goes down..then I'll lose a bit.


----------



## tech/a (9 October 2006)

Chris.

I have underestimated you!!
Some great holds there.

Not so different.I guess its the profit taking of outlier moves that maybe different.(Thats what I tend to do),but Im quick to take stops slow to take exits and quick to take shock moves.


----------



## chris1983 (9 October 2006)

Ive done alright.  I'm still learning.

Im not saying ive only made profits.  When the market got smacked I sold 10,000 Fox Resources at 65 cents..was in at 85.  When you look at the fundmentals of the company I have no reason why I sold.  Lost a little bit there. I got caught up in the hype of the sellouts.

ATM PMH is purely speculative..but speculation is what drives the price of a lot of companies.  This one has a long way to go to get to the production stage.

They are still drilling though and if they find higher grades the SP will get driven up.  Ill still keep my stop loss in place though.  Could fall back.  Another 5 million shares traded in the low 40's though.  If it ever did fall back to the low 30's a lot are losing including me.


----------



## StockyBailx (10 October 2006)

*I think -PMH- might drink you guys under the table?*
*You may notice that the Accumulation Distribution may well be the stocks downfall, in overwords a bit of a longneck. (a1 hit wonder)?*
*But i'm sure you guys know the fundermentals of this one. And its just my opinion!*


----------



## donjohnson (10 October 2006)

Well guys, I managed to pull pin yesterday. Got out at 43c, made 60% on a small punt so that'll do me.

Good luck to all holders.


----------



## SevenFX (10 October 2006)

donjohnson said:
			
		

> Well guys, I managed to pull pin yesterday. Got out at 43c, made 60% on a small punt so that'll do me.
> 
> Good luck to all holders.




Well Done Don,

You could always buy back in when she starts moving north again, for the small costs of brokerage...

How did you get on with your srn no, or did you get a broker to sell for you...

Cheers
SevenFX


----------



## donjohnson (10 October 2006)

Yep, might get back in this week if she starts another run.

I actually ended up finding out I could use a special code (12a) to bypass the SRN number on the online ordering system.

Apparently you have 10 working days within which to use this code. After the 10 days elapses you need the SRN.

You would of thought that would have been an easy thing to find out, however it took me 10 emails and 2 phone calls to get it out of them.

Anyway, lesson for the future.

Cheers.


----------



## Realist (10 October 2006)

It may go for a little run today, 44 now...


----------



## chris1983 (10 October 2006)

The announcement made and progression in their project seems pretty positive IMO.  Not one negative word was said by the press.  It will go up.  Still cheap.  Speculative yes..great potential yes.


----------



## Realist (10 October 2006)

45 now, alot of sellers at 45 though.


----------



## johnmwu3 (10 October 2006)

People are mostly buy the up and sell the down trend,also buy the hope or potential, PMH got huge potential .


----------



## tech/a (10 October 2006)

You seem to be getting a bit of a run.
will be interesting to see if selling pressure arives OR wether the species are out after the blow off and new investors/speculators in.
Early days.


----------



## powerkoala (10 October 2006)

it might break 48 today...
looks buyer is really strong


----------



## Realist (10 October 2006)

When it goes for a run more and more will jump in because they know the potential, they know it hit a bottom around 40c, and they'll wanna be on the run before it is too late, and it'll really get going. This may just be the day!!

45.5 now.  That's up 10% from the morning!


----------



## Realist (10 October 2006)

Tech, you said you'd buy in on a spike.

What would it take for you to buy in theoretically?

Just interested in your methodology?


----------



## tech/a (10 October 2006)

Depth is really thin very small parcels very little interest at this point.
If this keeps up it wont hold much at all.

*Realist* ill let you know if and when I see it with chart support.


----------



## chris1983 (10 October 2006)

This one is way too risky and volatile for you right Tech?  Thats how I would gather it.  Too much of a sharp rise.  Worried about the consolidation factor.


----------



## tech/a (10 October 2006)

Im seeing thin trading being sold into.
Chart is all over the place no consolidation.
Early morning breakout at .43c abd retest at .44c so if on at 43c then OK if not I personally would say Ive missed this opportunity others may come.
Didnt see it till 44 myself but from chart thats my call.
This is a tick chart.
Cant sit and watch this too busy but will report back.


----------



## powerkoala (10 October 2006)

uhm, do you think tis is too early to break 47,5 ??


----------



## JoshyJ (10 October 2006)

No its too late..


----------



## powerkoala (10 October 2006)

oh well then, make it 52c for today close


----------



## chris1983 (10 October 2006)

well hey.  who knows eh 

I like these kind of stocks.  If they can unlock their deposit profitably the sp is way underpriced.

what are you thinking atm Realist?  Did u pick more up at 40 yesterday?


----------



## Realist (10 October 2006)

49c now!!


----------



## johnmwu3 (10 October 2006)

PMH is just soaring again ?
May break 50c today ?
Maybe more reviews come out If up a lot


----------



## donjohnson (10 October 2006)

Haha, of course I should have waited till today to sell!

Nice one guys, well done.


----------



## powerkoala (10 October 2006)

i still hold though...
look at that seller... wow... 700k... 
such a resistance for today


----------



## Realist (10 October 2006)

50c!!


----------



## tech/a (10 October 2006)

Bloody hell that was quick.

Well there was another opportunity at 46c.

The blow off took a lot of sellers out as volume was higher than the initial buy volume the day before.
Next test is 49c.
If I was to have bought (which I havent) this it would have been at .465 with a stop at .47c having moved it up after the initial buy


----------



## tech/a (10 October 2006)

Now thats a strong looking depth.


----------



## chris1983 (10 October 2006)

Profit takers will come in again soon.  Its still good signs though.  I'll continue to hold


----------



## Speedbird675 (10 October 2006)

Hey Guys,

1st post and first trade on ASX for me, looks like I will hold as well, got in at .455 this morning, was cussing myself as was the high of the day. But IMO coy's  fundamentals are too strong for the SP. Will continue to hold.


----------



## pharaoh (10 October 2006)

u should do well on pmh
nice one


----------



## Realist (10 October 2006)

Just sitting around 48c now. I'm hoping for 50c+ by close of play.

Been a good day, lets hope Copper goes up overnight!


----------



## Speedbird675 (10 October 2006)

Realist,

Copper price is still bullish for this year ... deficit end of this year reducing in 2007 when project expansions / supply will become more evident and try to catch up demand, so prices are expected to soften mid/late 2007, averaging around US$6500/t in 2007. Price is expected to rise again (my estimate of further 300 dollars) this year to around 7700/t as conc. stocks are low and China has a huge apetite so will see further draw down in stocks.


----------



## SevenFX (10 October 2006)

Speedbird675 said:
			
		

> Realist,
> 
> Copper price is still bullish for this year ... deficit end of this year reducing in 2007 when project expansions / supply will become more evident and try to catch up demand, so prices are expected to soften mid/late 2007, averaging around US$6500/t in 2007. Price is expected to rise again (my estimate of further 300 dollars) this year to around 7700/t as conc. stocks are low and China has a huge apetite so will see further draw down in stocks.




Welcome Speedbird675 to ASF,

And thanks for your take on Copper and it's direction.

Cheers
SevenFX


----------



## Speedbird675 (10 October 2006)

Thanks SevenFX,

You reckon SP is going to go above the 50c mark again today ?


----------



## Realist (10 October 2006)

Speedbird675 said:
			
		

> Thanks SevenFX,
> 
> You reckon SP is going to go above the 50c mark again today ?





Yes!  

Who cares though really, hold this one for a while!


----------



## tech/a (10 October 2006)

Techies have somethig to work with now on this one.
47.5c held once again,resistance 49c,gotta get through this before reaching todays high.

Still think this is highly speculative.
Often see the high retested only to see it drift into oblivion.
I wouldnt get excited until the 56c high gets taken out if it ever does.


----------



## Realist (10 October 2006)

Trading has dried up completely.

I think everyone's taking lunch!

So I am too.    

MMmmm Ham, cheese and tomato bread rolls, orange juice. 

I need to fill my stomach preparing for the PMH eagle to soar this avo!


----------



## chris1983 (10 October 2006)

Hi Tech-A.

We all know this one is highly speculative.  I got into it because IMO in can go to $2 in quick time.  Could go down though..thats where you do your research and you take the punt on these speculative stocks.  The whole part of 33 Billion in the ground is the attractive part..then they have all existing infrastucture available to them..a prime location if they needed to develop a mine.

Add on that they will increase their resource and are drilling new high grade targets.

A lot of people believe its too deep..grades are too low..etc etc etc.  Everyone seems to focus on the negatives but not the positives.  This one has a lot of positives.  It should drive up the SP.  Thats what I'm hoping for anyway


----------



## Beethoven (10 October 2006)

Realist said:
			
		

> Trading has dried up completely.
> 
> I think everyone's taking lunch!
> 
> ...




lol lunch should be over soon  and maybe we'll see some action on this soon.


----------



## aobed (10 October 2006)

Beethoven said:
			
		

> lol lunch should be over soon  and maybe we'll see some action on this soon.




Yes.. hopefully lots of action .


----------



## johnmwu3 (10 October 2006)

Certainly possible there's potential in this company.

Unless you believe copper prices will stay at current levels and above for the next twenty years, I doubt that most of Anne Mason will ever be mined, but there is the potential that they will find some parts that have significant and economical high grade zones. 

If those zones were only 10% of the current total size of the resource it would still equate to $2.5 billion worth of inground copper at current prices.

They say there is a largely undrilled area that showed intersects of 10% Cu in historical drilling so the potential to find some high grade pockets is still there - though I suspect that historical intersect is narrow (they haven't said what its width was).

In their other exploration activities, the blue rose copper prospect (40m intersects of >1% from surface), and their uranium prospects (>2% u308 in rock chip samples) also look like quality prospects with reasonable potential for turning up something.

So even if you write off most of Anne Mason as unecomonical, this stock is still probably a spec with a fair bit of potential, though at 50c (approx $80m mkt cap if I've done my numbers properly?) its expensive for a pure spec buy.


----------



## chris1983 (10 October 2006)

Market cap is still under 50 million I thought?  If the market cap goes to 80 million I might sell.  That would be a good profit.


----------



## powerkoala (10 October 2006)

chris1983 said:
			
		

> Market cap is still under 50 million I thought?  If the market cap goes to 80 million I might sell.  That would be a good profit.




how much is the sp value if the market cap goes to 80 mil ?
$1.25 ? and when it reach this, it will goes up and up again just like cdu.


----------



## chris1983 (10 October 2006)

Theres 101 million shares on issue atm.  I dont know the fully diluted value of the company.

But yeah at 80 cents the market cap would only be 80 million.  I'm just going to sit on these for awhile.  See what they do.


----------



## johnmwu3 (10 October 2006)

Is that sum (101million) including the option?
CDU market cap. is more than 200 million.


----------



## Beethoven (10 October 2006)

hmm not much support but a lot of sellers up to 51 cents atm.


----------



## powerkoala (10 October 2006)

hm.. 80c need to hike another 70% of current sp..
still long way to go.. unless we have another encouraging news of high grade.
well, just wait and see. anything can happen :


----------



## chris1983 (10 October 2006)

johnmwu3 said:
			
		

> Is that sum (101million) including the option?
> CDU market cap. is more than 200 million.




Their market cap is pretty much 47 million.

They have just under 14 million options on issue that are currently trading at 7 cents.  The exercise price for these are 60 cents though.  So people buying the oppies obviously believe they are going to go above 60.

The expiry date for the options is on the 30/11/2006.


----------



## chris1983 (10 October 2006)

powerkoala said:
			
		

> hm.. 80c need to hike another 70% of current sp..
> still long way to go.. unless we have another encouraging news of high grade.
> well, just wait and see. anything can happen :




I can tell you right now for the future they will release a message similar too.  "Ann Mason deposit has 40 billion in ground value".  Thats what I think.  Then you'll have all the stupid day traders jumping in again.  Atleast it will drive the price up. They have a lot more area to be drilled and gaps to be filled.

Or another message such as

"High grade Copper intersected blah blah blah"

As long as Copper prices hold firm for awhile they look good.

Just with the hype they will go further.


----------



## SevenFX (10 October 2006)

Beethoven said:
			
		

> hmm not much support but a lot of sellers up to 51 cents atm.




That's prob where the sellers caught when it went south. IMO


----------



## powerkoala (10 October 2006)

chris1983 said:
			
		

> I can tell you right now for the future they will release a message similar too.  "Ann Mason deposit has 40 billion in ground value".  Thats what I think.  Then you'll have all the stupid day traders jumping in again.  Atleast it will drive the price up. They have a lot more area to be drilled and gaps to be filled.
> 
> Or another message such as
> 
> ...






true.. i was daytrader myself 
but now, i change my habit a bit


----------



## Realist (10 October 2006)

46.5 close.

I'll take that!  

Till tomorrow then.   :


----------



## tech/a (10 October 2006)

Hmm little support.

Could be a while realist.


----------



## chris1983 (10 October 2006)

tech/a said:
			
		

> Hmm little support.
> 
> Could be a while realist.




hmm...little support because someone sold out at the end of trade?  Little support with over 10 million shares traded above 45 cents?

Can you explain..Buyers stemmed off towards the afternoon but they traded steadily around 47 - 48 and held firm for the entire days trade.

If the DOW doesnt get smacked tonight I think they will continue to rise.


----------



## cuttlefish (10 October 2006)

If you dilute for options there's > 160 million shares on issue.  You might be able to take 13 mill off that number for the nov options if they finish out of the money.

johnmwu3 - if you're going to lift text from other locations you should mention where you got it from.


----------



## powerkoala (10 October 2006)

i was hoping it stay at 47.5c 
but that seller sold at low price
what a discount 
anyway, let see what tmrw brings


----------



## chris1983 (10 October 2006)

Lets hope the message to be released tomorrow morning is good.

" Sydney - Tuesday - October 10: (RWE Australian Business News) - Giralia Resources NL (ASX code: GIR), in response to a stock exchange query over a rise in its share price from 29c on Tuesday October 3 to 37c at the close today, has attributed the rise to an announcement by PacMag Metals Ltd (ASX code: PMH) on October 5 regarding an initial copper resource estimate for the Ann Mason deposit.

Giralia holds an interest of about 10 per cent in PacMag. "The company has been informed that PMH intends to make a further (unrelated) release before the commencement of trade tomorrow (11 October 2006) regarding an update on exploration activities which will include results from the Olary project in South Australia, a joint venture with Giralia," director Mr Michael Joyce said.

PacMag shares closed up 4.5c at 46.5c after touching 51c today.  The stock has risen from 18.5c a week ago.  ENDS"


----------



## pharaoh (10 October 2006)

Thanks Chris, didn't know that...


----------



## Realist (10 October 2006)

tech/a said:
			
		

> Hmm little support.
> 
> Could be a while realist.




Tech you've been negative about PMH all along this thread.

Telling us "this is exactly the way not to trade", yet today you say you potentially would have got in at 46.5 when it hit 51c.   

But it was too quick...   

Your negative comments are no help to anyone, you've been proven wrong on this thread more than once, already!



> No support!



  Ha, over 10,000,000 shares were traded today, the price at one stage was up over 20%, there is huge support!

Stop being so negative, your just making yourself look silly.  

PMH does have potential despite what you say, I got in at reasonable prices despite what you say, holding was smarter than selling in low 40's despite what you say, there is huge support despite what you say, and tomorrow has the potential to be great despite what you say.

You've not been right about 1 thing yet! I have!!!


----------



## Realist (10 October 2006)

chris1983 said:
			
		

> Lets hope the message to be released tomorrow morning is good.
> 
> " Sydney - Tuesday - October 10: (RWE Australian Business News) - Giralia Resources NL (ASX code: GIR), in response to a stock exchange query over a rise in its share price from 29c on Tuesday October 3 to 37c at the close today, has attributed the rise to an announcement by PacMag Metals Ltd (ASX code: PMH) on October 5 regarding an initial copper resource estimate for the Ann Mason deposit.
> 
> ...




Holly cow, it could fly tomorrow!


----------



## pharaoh (10 October 2006)

Hey realist, I agree

Damn, I sold out already
I have made so much money the last 3 days on PMH and MOX, it's crazy, my luck has to come to an end soon.

Maybe...

If you didn't hold, would you tempt trading, or late entering PMH in the morning...?


----------



## chris1983 (10 October 2006)

Pharoah,

You had MOX?  Welldone.  I saw that yesterday and could see the rise building..I couldnt bring myself to get any.  Great rise today.  You would be happy 

Well I hope PMH put out a positive announcement.  It sais that they "intend" to.  So we know there is definately an annoucement coming..hopefully it does come tomorrow..keep the momentum going.


----------



## johnmwu3 (10 October 2006)

chris1983 said:
			
		

> Lets hope the message to be released tomorrow morning is good.
> 
> " Sydney - Tuesday - October 10: (RWE Australian Business News) - Giralia Resources NL (ASX code: GIR), in response to a stock exchange query over a rise in its share price from 29c on Tuesday October 3 to 37c at the close today, has attributed the rise to an announcement by PacMag Metals Ltd (ASX code: PMH) on October 5 regarding an initial copper resource estimate for the Ann Mason deposit.
> 
> ...


----------



## StockyBailx (10 October 2006)

Well looks like the drinks are on -*PMH- UP *agian today, and by the size of that long neck, I don't blame ya's for sculling, and you really wouldn,t be sellin all your eggs and trophy's until you think it went legless and hit the floor.

its payed back any losses, but it is certianly early days and it sounds/seems like your got your hands on a winner?
Fast'in your seat belts.


----------



## Realist (10 October 2006)

pharaoh said:
			
		

> Hey realist, I agree
> 
> Damn, I sold out already
> I have made so much money the last 3 days on PMH and MOX, it's crazy, my luck has to come to an end soon.
> ...




Yeah why not buy a few, the upside potential is huge, the downsize limited.

You gotta be in to win.

I'd see what happens on open, if it is slow then buy some, if it storms up don't - just watch and wait.

Anything under 50c is good.


----------



## cuttlefish (10 October 2006)

realist have you actually made any money out of this stock yet?  As far as I can tell you're either marginally profitable or at a mild loss at the moment. We don't know what tomorrow will bring. 

Could you also explain why you think this is/was a good buy?  You read three lines from the MD of a company that said "its really good and worth a lot" - gee thats an unusual thing for an MD to say - I'd buy every stock that ever made an announcement with that approach.

Just out of curiousity, since you're so focused on fundamentals, when you did your valuation model on this stock, what mine startup capex did you estimate for this resource?


----------



## lesm (10 October 2006)

This has been an interesting thread to watch over the last few of days. There are others in a similar vein, reliant on hope, wishful thinking and too much emotion based trading.

Just trading on a sentiment based indicator and scalping the emotions in itself would have been profitable over the last couple of days.

There appears to be more hope and wishful thinking rather than solid analysis in a whole range of posts.

One thing traders like about investors is that they bring money into the markets and we don't mind taking it off them. But, by the same token we don't like seeing people lose money unnecessarily or putting too much at risk.

PMH may or may not fly today, tomorrow or next week or maybe it will who knows.

Think about the basis (why have you purchased this share?) for your trade/investment, be wise and keep the emotions under control.

For those who have bought it good luck, hope it works out for you. There are quite a few stocks moving positively at the moment, just try not to get caught on a spike.

Cheers.

Give some thought to Cuttlefish's post as well.


----------



## pharaoh (10 October 2006)

Hey Chris, yes mox was great - bought in yest at 57.7c thinking I paid a premium


----------



## cuttlefish (10 October 2006)

btw in my previous post I wasn't offering an opinion one way or another about this stock - just questioning the extent of realists fundamental analysis.  Also for someone that 'never sells' he seems to focus a lot on price action rather than future income.


----------



## Realist (10 October 2006)

cuttlefish said:
			
		

> btw in my previous post I wasn't offering an opinion one way or another about this stock - just questioning the extent of realists fundamental analysis.  Also for someone that 'never sells' he seems to focus a lot on price action rather than future income.





Cuttlefish, no-one can make a good ascertation of the exact value of PMH.

They've yet to make a dime, this is not a case of fundamental analysis.

This is a case of would you buy into a $40M company that has after over 12 months of research recently discovered an inferred resource of $33B of copper in a good position in Nevada?

I answered YES!

I may lose money, it is a risk, but the simple fact that this company was worth $40M 5 months ago before it knew of this amazing news, I believe the market has under-reacted so far. So I bought quite a few shares, and I will not be swayed by initial market sentiment, however I will watch closey because I enjoy watching!

Please advise why you yourself who bought CQT, does not think PMH is a better investment - it is cheaper than CQT afterall and the resource is massively higher!


----------



## doctorj (10 October 2006)

This thread is for the discussion of Pacmag, not anyone's profitability. 

It's the ongoing disagreement over the ever changing value proposition that makes a market.  Lets respect that here and realise that not everyone will agree or there'd be no trades at all. 

Negative posters are welcome, if not encouraged in the same way that positive posters are.  Everyone has a different opinion and provided they substantiate it we can all learn something.

These threads aren't for rampers (or downrampers), they're to discuss the fundamentals and technicals of a company and its chart.

Play the man and not the ball.


----------



## cuttlefish (10 October 2006)

Realist said:
			
		

> Cuttlefish, no-one can make a good ascertation of the exact value of PMH.
> 
> They've yet to make a dime, this is not a case of fundamental analysis.
> 
> ...




As usual you've failed to actually answer my rather simple and direct question - which would have been far more relevant to the thread.  

You've bought PMH - what is your estimate of the cost of pulling that copper out of the ground. You claim to be an expert on fundamental analysis - surely the revenue being greater than the cost is a fairly important part of a stock being fundamentally sound to buy.   So with PMH - tell me what your estimate is.  

Thats all I'm interested in knowing. Not what a genius you are with your random flukes.  How was the BHP buy at $27?  How is CMI going - oh thats right you hold forever unless you can sell for a loss before tax time. I'm not interested in CQT or any other stock. Thats not what this thread is about.  

Stick to PMH and tell me about your brilliant fundamental analysis of this stock.

And if its not possible to do a fundamental analysis, why are you gloating about your brilliant fundamental analysis in buying it.  Its either one or the other.


----------



## SevenFX (11 October 2006)

doctorj said:
			
		

> This thread is for the discussion of Pacmag, not anyone's profitability.
> 
> It's the ongoing disagreement over the ever changing value proposition that makes a market.  Lets respect that here and realise that not everyone will agree or there'd be no trades at all.
> 
> ...




I strongly agree, and think tis a shame to see flaming posts...

Negative posters = Bearish Posters
Positive posters  = Buullish Posters Simple.


----------



## chris1983 (11 October 2006)

I honestly think you guys should lay off Realist.  He hasnt said anything wrong IMO.

Cuttlefish if you work out the costs..can you tell me so then I'll buy more if it works out to be profitable.  If they knew the costs allready people would have a clearer view on the valuation on what price PMH should actually be.  Then its not speculative anymore. 

They have other prospects aswell.  Their Olary project in South Australia may bring some good news.


----------



## Realist (11 October 2006)

cuttlefish said:
			
		

> As usual you've failed to actually answer my rather simple and direct question - which would have been far more relevant to the thread.
> 
> You've bought PMH - what is your estimate of the cost of pulling that copper out of the ground. You claim to be an expert on fundamental analysis - surely the revenue being greater than the cost is a fairly important part of a stock being fundamentally sound to buy.   So with PMH - tell me what your estimate is.
> 
> ...




 

Cuttlefish, where do I ever say I did brilliant fundamental analysis on PMH?

I said it is not one for fundamental analysis as it has not even made a profit.

It is obvious that a company worth $40M that has $33B in copper is a good prospect though.

What on earth can you not understand about that simple equation?

How much do you think it will cost to "pull copper out of the ground" - I'm guessing $1B will do alot of "pulling" for alot of years mate - don't you?


----------



## cuttlefish (11 October 2006)

Chris1983 - There's plenty of stuff that can be incorporated at this early stage to try to get an idea of value of a resource if you're prepared to do your own research and numbers.  

This isn't the first copper resource ever discovered - look at some feasability studies for other operating mines and you can get some ideas of costs etc.  

Whether that information translates to anything to do with the short term share price of a stock is another matter.

Which is why having an understanding of some of the stuff Tech/A was talking about is also useful, even if you're mainly focused on fundamentals.


----------



## chris1983 (11 October 2006)

Ok Guys,

The truth of the matter is we could debate this forever.

No one knows what the costs will be.  No one knows whats going to happen to the price of Copper.  This could double easily though.  It has other prospects.  They could put out good uranium results from their Olary Project

"Rock chip samples to 2.2% U3O8 at Olary"

So they arent only relying on Ann Mason.  They have their Blue Rose copper project joint venture with Giralia that looks promising at the early stages.

Then they have high grade targets left to drill at Ann Mason and expect to increase the 33 biliion dollar resource.  In your minds dont you think its a good speculative buy?


----------



## Realist (11 October 2006)

chris1983 said:
			
		

> Then they have high grade targets left to drill at Ann Mason and expect to increase the 33 biliion dollar resource.  In your minds dont you think its a good speculative buy?




Good question...

Well Cuttlefish, do you think its a good speculative buy?


----------



## chris1983 (11 October 2006)

cuttlefish said:
			
		

> Chris1983 - There's plenty of stuff that can be incorporated at this early stage to try to get an idea of value of a resource if you're prepared to do your own research and numbers.
> 
> This isn't the first copper resource ever discovered - look at some feasability studies for other operating mines and you can get some ideas of costs etc.
> 
> ...




So in other words you have no idea which is why you havnt bought them. I dont know myself.  I bought them for the spec play.  Think I have said that many times.  I have no worries with what Tech-A has said.  I actually enjoy reading what he say's.  We trade differently.  I'll have my stoploss in place.  I think this one will go further and the potential is there.

One good thing in regards to the costs of developing a mine there is the existing infrastucture.  see below.

"PacMag management has obtained all the permits required to commence drilling, and the property is close to existing infrastructure, such as power and railway lines, a natural gas pipeline, and the town of Yerington, management pointed out in its ASX report."

Things can change.  Copper prices can go down. I never said I would hold for the long term.   They are looking good atm though.


----------



## cuttlefish (11 October 2006)

wow its interesting how things can be misinterpreted.

I said that at this early stage it is possible to do some rough numbers based on other mining projects. I've done my own on this one, I'm not about to divulge them here. I also didn't make any disclosure as to whether I held these or not.

I also know how to divide $1 billion by 800 million and how to work out the fully diluted market cap for a company.


----------



## Realist (11 October 2006)

cuttlefish said:
			
		

> wow its interesting how things can be misinterpreted.
> 
> I said that at this early stage it is possible to do some rough numbers based on other mining projects. I've done my own on this one, I'm not about to divulge them here. I also didn't make any disclosure as to whether I held these or not.
> 
> I also know how to divide $1 billion by 800 million and how to work out the fully diluted market cap for a company.





Haha, how convenient....

I suspect you did buy some hence the interest in this thread, but you learnt from CQT not to divulge here, cause you sold at 32 and it is now 45. 

No shame in that though, everyone makes mistakes.

I at least put my balls on the block - if I make a mistake I want you guys to hammer me so I learn


----------



## chris1983 (11 October 2006)

I'm sure you have done your number crunching cuttlefish 

goodluck if your holding..or not holding


----------



## Realist (11 October 2006)

Copper down a tiny bit overnight, an no announcements yet.


----------



## cuttlefish (11 October 2006)

Realist said:
			
		

> Haha, how convenient....
> 
> I suspect you did buy some hence the interest in this thread, but you learnt from CQT not to divulge here, cause you sold at 32 and it is now 45.
> 
> ...




If taking a profit is a making a mistake then I'm happy to make them. 

Now lets put this to bed because we're off topic.


----------



## chris1983 (11 October 2006)

Realist said:
			
		

> Copper down a tiny bit overnight, an no announcements yet.




Realist.. Giralia said PMH intend to make an annoucement today.  The words "intend" in their asx query.  Meaning there is one coming soon.  Just be patient.


----------



## chris1983 (11 October 2006)

cuttlefish said:
			
		

> If taking a profit is a making a mistake then I'm happy to make them.
> 
> Now lets put this to bed because we're off topic.





No shame in taking profits.  If you could do that on every trade your a good trader.  Well time to get ready for work


----------



## powerkoala (11 October 2006)

There you go, Realist....
your waiting news has come 
now we can relax and enjoy the ride :


----------



## chris1983 (11 October 2006)

haha new high grade uranium zone.  I havnt read the message but this message should fuel the fire.


----------



## powerkoala (11 October 2006)

now we will see, who is ramping ?
let the market decides where they want to go


----------



## powerkoala (11 October 2006)

wow...
look at those buyers...
seems they want to eat this sp alive... lol


----------



## SevenFX (11 October 2006)

http://www.asx.com.au/asxpdf/20061011/pdf/3yxy8pvmb3nwc.pdf

Enjoy All.... bit of a emotional Roller Coaster


----------



## chris1983 (11 October 2006)

Well I'm holding.  All their projects are looking good.


----------



## powerkoala (11 October 2006)

out at 56c
will buy again for sure 
have fun holders


----------



## johnmwu3 (11 October 2006)

Guess today may close at 53c


----------



## SevenFX (11 October 2006)

I love the way the buyers and sellers are playing MOX,,,,, 1.4m/340,000

Shame PMH dont hold back on all this good news...

EDIT


			
				johnmwu3 said:
			
		

> Guess today may close at 53c




John what makes you say it will close on 53, because of the large no of trades there, as 55c looks god to based on trades...????


----------



## johnmwu3 (11 October 2006)

SevenFX said:
			
		

> I love the way the buyers and sellers are playing MOX,,,,, 1.4m/340,000
> 
> Shame PMH dont hold back on all this good news...
> 
> ...




Just guess acc. to the vol. and price.
As to me, the higher the better since I hold it.


----------



## Realist (11 October 2006)

Hmmm 52c now!


----------



## Realist (11 October 2006)

54.5 with alot of buyers, hmm may rise a bit more today before lunch!  :


----------



## Surething (11 October 2006)

Do you think PMH has more in the tank over the next few days? I just bought in at .555, concerned it may sink back?? Thanx


----------



## aobed (11 October 2006)

Surething said:
			
		

> Do you think PMH has more in the tank over the next few days? I just bought in at .555, concerned it may sink back?? Thanx





You're quite game coming in near the highest point today... I have my fingers crossed for you.


----------



## Realist (11 October 2006)

Surething said:
			
		

> Do you think PMH has more in the tank over the next few days? I just bought in at .555, concerned it may sink back?? Thanx




That is the million $$$ question.

Who knows?   

It obviously has huge potential. 

Lets see how the Dow Jones goes tonight, and how copper prices hold up. I'm holding...


----------



## johnmwu3 (11 October 2006)

This weekend maybe a few comments to PMH, altogether it's projects vs
its market value.
How do they valuate it ?


----------



## doctorj (11 October 2006)

I'm often curious how people concern themselves with commodity prices during moves like the one here in stocks that aren't even producing yet.

Surely sentiment is a greater driver of fear or greed than small changes to commodity prices.


----------



## Realist (11 October 2006)

doctorj said:
			
		

> I'm often curious how people concern themselves with commodity prices during moves like the one here in stocks that aren't even producing yet.
> 
> Surely sentiment is a greater driver of fear or greed than small changes to commodity prices.





True, but if overnight copper plummeted and there was a huge oversupply announced, people would put 2 and 2 together and think hmm, it could keep going down and by the time they do mine it and started to sell it their profits are far lower.

On the other hand if it is announced overnight there is going to be a huge world copper shortage in 2008 again people put 2 and 2 together and think wow PMH has so much potential.

So the tiny copper price changes are just part of this I suppose.


----------



## SevenFX (11 October 2006)

Surething said:
			
		

> Do you think PMH has more in the tank over the next few days? I just bought in at .555, concerned it may sink back?? Thanx




Hi Surething & Welcome,

I notice this is your first post here, as I'm not far behind you....

IMO, Firstly, If you've bought near todays top (which we know now), you have to decide whether you bought as a trader (buy/sell in short period of time), or you may have bought as a Investor (buy/sell  for longer period).

Based on a traders behaviours, you may have to cut your losses/break even or even make a small profit as early as possible.

Otherwise, as a investor, you may have considered the fundermentals and not worry about todays lower price, given your holding stragerty for mid to long term investment...

Whichever you are, IMO try trading small, till you have a working system, and don't be taken in by the hype [Trade what you SEE, not what you FEEL)


Cheers
SevenFX
Just my opinion, but I am not a financial advisor.


----------



## chris1983 (11 October 2006)

Ive been saying it from the start.  This is a GOOD speculative stock.  Another huge volume turnover all above 50 this time.

They still have their Blue Rose project which is also looking good.  To me it seems that they will just continue to have good news after good news.


----------



## doctorj (11 October 2006)

Sure, trading is an emotional thing, but please make an effort to support claims made.

Posts like:


			
				Some ramper from the infamous forum said:
			
		

> THIS WILL BE $2 BY THE END OF NEXT WEEK!!!!!!111111oneone



are entirely unwelcome here at ASF.


----------



## JoshyJ (11 October 2006)

I believe it will trade higher tommorrow. It seems to have a lot of support while the profit takers are selling off.


----------



## chris1983 (11 October 2006)

JoshyJ said:
			
		

> I believe it will trade higher tommorrow. It seems to have a lot of support while the profit takers are selling off.




I think you will be right.  This one would have new investors coming in based off their uranium news.  They are being traded heavily in the mid 50's now.  I'm no expert but I believe all the signals are sayings it on the way up.


----------



## Sean K (11 October 2006)

I'd be searching for a chair about now. If you get one when the music stops, you can just get up and keep dancing....


----------



## nizar (11 October 2006)

kennas said:
			
		

> I'd be searching for a chair about now. If you get one when the music stops, you can just get up and keep dancing....




lol yes kennas we all know when the clocks strikes 12-midnite, everything turns back into pumpkins and mice, problem is, where are the clocks? oh well, lets go for one more dance   :


----------



## Realist (11 October 2006)

From news.com.au 

PacMag benefits from uranium find
October 11, 2006 12:29pm

SHARES in PacMag Metals Ltd gained today after the minerals explorer announced a high grade uranium zone at its Olary joint venture in South Australia.

PacMag is the manager of the joint venture and by the completion of a bankable feasibility study may earn up to 75 per cent equity in the project from Giralia Resources NL, which also saw its shares rise on the news. 

PacMag's shares rose 10.5 cents, or almost 23 per cent, to 57 cents, while Giralia rose eight cents, or 22 per cent, to 45 cents a share, in morning trading. 

At 1158 AEST PacMag shares were eight cents, or 17.2 per cent, higher to 54.5 cents, while Giralia was one cent higher to 38 cents. 

The Olary project, which is 1200 sq km, comprises two exploration licenses for hard rock and roll front uranium deposits. 

"Recent reconnaissance mapping with accompanying rock chip sampling has defined a new zone of strong uranium results on the northern Olary tenement E2939," PacMag said. 

The find will tap into investor fever for uranium stock that has been recently demonstrated by a number of successful uranium company listings on the stock exchange and higher uranium prices. 

The interest is being driven by declining above-ground supplies of weapons grade uranium and an international push for cleaner fuels. 

Last week PacMag's shares jumped 23 cents, or 124 per cent, to 41.5 cents, after it outlined a $US25 billion ($33.58 billion) resource estimate at its wholly-owned Ann Mason project in Nevada, US. 

It said the project had a resource of 810 million tonnes grading 0.4 per cent copper and 0.004 per cent molybdenum, in a 64 per cent improvement to the previous estimate. 

The copper metal in the resources has an in-ground value of $US25 billion based on current metal prices, PacMag said, and there is still room to further increase the resource.


----------



## johnmwu3 (11 October 2006)

johnmwu3 said:
			
		

> Guess today may close at 53c




LOL my guess is Quite right !
Just Closed at 53c


----------



## Realist (11 October 2006)

johnmwu3 said:
			
		

> LOL my guess is Quite right !
> Just Closed at 53c




Been a good today, lets hope tomorrow is even better!


----------



## chris1983 (11 October 2006)

"Ann Mason is also of a similar size and grade to other publicly reported resources and reserves from deposits under evaluation where detailed feasibility studies are in progress such as at Aur Resources' Andacollo sulphide copper deposit in Chile and bcMetals' Red Chris porphyry copper deposit located in British Columbia (Table 2)".

Heres an interesting read on Aur Resources Andacolla Primary Copper Deposit.

Andacollo Primary Copper Deposit 
The Andacollo property hosts a copper-gold deposit containing approximately 311 million tonnes of mineral resources at an average grade of 0.46% Cu and 0.15 g/t Au which underlies the supergene copper deposit currently being mined. A pre-feasibility study, carried out by Aur in 1998, indicated that this deposit could, with a capital investment of $280 million, be developed to produce 174 million pounds of copper and 55,000 ounces of gold annually for 15 years. Aur intends to update this study in 2004 to evaluate the economics of developing this deposit for production, given the positive outlook for copper prices going forward.

Andacollo Hypogene Copper Deposit A Major Source of New Copper ProductionResources:421 million tonnes
Grade:0.43% Cu, 0.13 g/t Au
Annual Production:≈ 170 million lbs Cu and 59,000 oz Au
Mine Life:21 years
Capital Costs:$312 million
IRR:>15% at Cu=$1.00/lb, Au=$400/ozStatus:

Bankable feasibility in progress•Production achievable by 2009•Production decision by March 2006

A Major Source of New Copper ProductionResources:421 million tonnes Grade:0.43% Cu, 0.13 g/t AuAnnual Production:≈ 170 million lbs Cu and 59,000 oz AuMine Life:21 years Capital Costs:$312 millionIRR:>15% at Cu=$1.00/lb, Au=$400/ozStatus: 

Bankable feasibility in progress•Production achievable by 2009•Production decision by March 2006


Found the following announcement by Aur Resources saying that they will bring the mine into production.  See link below.

http://www.ccnmatthews.com/news/rel...earchText=false&showText=all&actionFor=606310

One thing I havn't managed to find is the depths of the deposit.

One thing I do know is the Ann Mason resource is double the Andacolla Resource.


----------



## chris1983 (12 October 2006)

bc Metals Red Chris project is also going ahead.  See link below.

http://www.bcmetalscorp.com/_resources/web_presentation_apr_2005.pdf#search=""red chris" "copper""

Pacmag has better grades from comparing the reports.  It also has a larger deposit.  So Pacmag have infrastucture available to them.  Once again I dont know how much it would cost to dig out 97 metres of dirt

"Higher grade copper sulphide mineralisation at Ann Mason starts from 97 metres below surface, extends to a depth of greater than 880 metres and is continuous over 1600 metres of strike and 750 metres of width."

They do state in the message that the higher grade copper mineralisation starts from 97 metres below surface.  Meaning from 0-97 metres is lower grade.  It could still be economical to process.


----------



## Realist (12 October 2006)

Its taken a beating this morning. 48.5c now!


----------



## Speedbird675 (12 October 2006)

It sure is .... Chris 97m is an OK overburden to be removed ... considering the total size of the ore body, and the overburden costs is a function of many things like equipment availability, tyres, labour etc, but certainly wont push them overbudget provided they have done their calculations right as being an ASX listed company.


----------



## powerkoala (12 October 2006)

46.5c now
hm.. consider to jump in...
should i or shouldn't ???
thinking thinking...


----------



## Speedbird675 (12 October 2006)

nows ur chance PK :


----------



## Speedbird675 (12 October 2006)

oop too late 47.5 now


----------



## powerkoala (12 October 2006)

i was trying to buy that 47c ,... not too fast though 
lol


----------



## Realist (13 October 2006)

Down to 45c now, traders stops being hit I reckon.

Buying opportunity maye?


----------



## powerkoala (13 October 2006)

should sell on open 
now drag down again ... lol...
oh well, still time to come....


----------



## StockyBailx (15 October 2006)

Well so theres you go..... I still think this ones gunner drink you's under the table. Sure thing gave its self a bit of a boost. (very good) but what the bet that this will now go invertantly sideways for a month or so why they go looking for the find, that they were more than happy to brag about. Seen it in many stocks, certianly good news as they will rise agian but not in this instance.


----------



## Realist (16 October 2006)

StockyBailx said:
			
		

> Well so theres you go..... I still think this ones gunner drink you's under the table. Sure thing gave its self a bit of a boost. (very good) but what the bet that this will now go invertantly sideways for a month or so why they go looking for the find, that they were more than happy to brag about. Seen it in many stocks, certianly good news as they will rise agian but not in this instance.




Well mate, you go put your hard earned into Cudeco shares, I'm sticking with PMH. And I know who'll come out ahead!!


----------



## tech/a (16 October 2006)

StockyBailx said:
			
		

> Well so theres you go..... I still think this ones gunner drink you's under the table. Sure thing gave its self a bit of a boost. (very good) but what the bet that this will now go invertantly sideways for a month or so why they go looking for the find, that they were more than happy to brag about. Seen it in many stocks, certianly good news as they will rise agian but not in this instance.





Common stocky its a buying opportunity.

Gotta run theres some swamp I wanta buy!


----------



## johnmwu3 (16 October 2006)

Fr. other forum:

compared to other mines, such as the Phelps Dodge Morenci mine which is in production, and the Phelps Dodge Safford mine under construction, Ann Mason has great potential.

Morenci goes to depts of greater than 400metres. Like Ann Mason, these are massive centralised ore bodies, which can become mineable due to their sheer size.

PacMag will bring out its scoping study results in December, so I wouldn't be a seller until then...

Add on top of this, the focus the company wants to put on generating cash flow from their Australian Blue Rose copper project, and the very likely uranium spin off, there is huge potential on this one.

Commodities too are now entering a seasonal period of strength. India announced GDP growth of 8 percent a few weeks ago, China is growing at 12 per cent - which is most likely understated, so the demand for base metals such as copper is going to be strong, with prices likely to rise strongly into December or January.

The market has priced in that copper prices will fall over the coming years, but in light of those GDP growth figures, it is difficult to see how. 

Remember, the Ann Mason copper grades were measured at USD 1.09lb copper. Last time I checked, copper was trading above USD 3.

Jim Rogers has also come out saying that most commodities will exceed the previous highs, and he is a billionaire investor.
i am more than happy to WATCH THIS SPACE


----------



## chris1983 (16 October 2006)

Theres a lot of people waiting for this one to fail.  They might.  Whos knows whats going to happen with any stock.  They are holding pretty well atm though.  They arent lacking support.  The blue rose copper/gold project IMO will bring some good results.  Then they have their uranium prospects.

I'll hold untill I see something go very wrong


----------



## Epsilon (16 October 2006)

In addition to the Copper Potential (soon we may be pleasantly surprised ....), some new announcement re: Uranium will send this stock to the stratosphere.....
The present price is ridiculously low considering the metal prices (copper) and especially Uranium....


----------



## tech/a (16 October 2006)

> I'll hold untill I see something go very wrong




An example would be?

I dont blame those holding who bought at say 30c.
I question though those that watched it hit 56c twice and still held.
I'd have thought that a near 100% profit would have been worth taking and further buying opportunity would present itself.(which it has---could get better yet).

It just seems to me when there is a blow off which is missed by the majority it then becomes a long term hold.
Money tied up waiting--waiting--blah blah.

Had I traded it when I saw it I would have a small loss but stll be trading others and be in the position if I chose to take this if it springs to life.

Each to their own.
I personally dont like holding stock doing little (short term discretionary trading).
Longterm position trading is of course different.


----------



## chris1983 (16 October 2006)

Hi Tech-A.  Untill I see the share price drop 10 cents on large volume 

I'm really not worried about this one.  I'll just leave it sit there for the time being.  I still think they have potential to rise with their Blue Rose copper/gold project plus their Uranium play at Olary.  I'll also wait for the resource upgrades at Anne Mason.

Like I said I wouldn't have 20 grand in this one but its one of my spec plays. High potential to turn 3/4 grand into 10 grand. I have a few specs but I consider this one more spec than others.

http://www.pacmag.com.au/uranium_projects.15.html

You have to also realise they could very likely release an announcement saying the Anne Mason project is economically viable due to prevailing copper prices.  When that message comes out they are going to fly.  I dont want to miss the frenzy.


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## Realist (16 October 2006)

I agree with Chris.

There may be a trading halt then an announcement within the next year that will cause the price to more than double and there's no way to get in in time.

I'll hold, this has huge potential. Day to day fluctuations don't worry me, but I follow them all the same...


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## tech/a (16 October 2006)

chris1983 said:
			
		

> Hi Tech-A.  Untill I see the share price drop 10 cents on large volume
> 
> I'm really not worried about this one.  I'll just leave it sit there for the time being.  I still think they have potential to rise with their Blue Rose copper/gold project plus their Uranium play at Olary.  I'll also wait for the resource upgrades at Anne Mason.
> 
> ...




Chris we are different in that I dont trade would be's or could be's.
If I couldnt double $4k in a year without could be's then Id be pretty annoyed.

By the way if it drifted down another 10c Id still be pretty concerned.
Particularly as most like you would have sat in this for a few months and realised little profit--infact realist would be negative.

Anyway different trading styles good luck with it.
But you could be right and you maybe wrong.


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## chris1983 (16 October 2006)

Well hey I could be out of this one in a month if I dont like what I see.  atm the potential is there.  A small loss wouldnt hurt me Tax wise.  Then again no one wants to make a loss..thats not the aim of the game.  I just think the potential is still there hence I'll hold.  This stock is definately still unsure.  Its not like some of my other stocks that I definately believe will double with time such as AGM/PNA.  I did buy into this one to more than double my money in quick time.  I still think it can.  I still like their prospects and what they could offer.  Im actually breaking even on this atm.  If I was afraid I would of been out at 50.  So I guess i'll just see what happens over the next month.


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## Realist (16 October 2006)

tech/a said:
			
		

> By the way if it drifted down another 10c Id still be pretty concerned.
> Particularly as most like you would have sat in this for a few months and realised little profit--infact realist would be negative.




I would be negative, but I'd still hold...


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## tech/a (16 October 2006)

Realist said:
			
		

> I would be negative, but I'd still hold...




Id expect no less.


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## chris1983 (16 October 2006)

Well I wont continue to hold if I start to dislike their operations.  Thus far I dont think they have done anything wrong though.  Their share price was in the low 20's before their significant 64% resource upgrade at Ann Mason which they believe will be further increased with higher grade targets still to drill and then they reported good signs for a positive uranium prospect at Olary.

In my mind I think they will also report good results from their Blue Rose copper/gold joint venture with Giralia.  So atm I believe their SP is a fair valuation on what they have said.  I believe they have also hinted on an in specie uranium spinoff.  They still seem to have a lot going for them..which is why I wont sell just yet.


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## Epsilon (16 October 2006)

I will "speculate"differently.
A). The Ann Mason project will be either acquired by a "Major"for a huge price (or the company will be taken over, except the Uranium Tenements).
B). Upon completion of the above (or even sooner, much sooner) an announcement of a further Uranium Tenement acquisition, (even in the USA!!!) thus the compan's future may be in Uranium after a HUGE cash deal for the Copper deposits........

Only a "wild" thought, hypothesis by me.....

Please do your own research prior to any selling-purchasing decision.



***** PMH, as well as AUM (CDU) and RXL were all humbly tipped by me in Ozestock, few months back...... 


Cheers)))


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## StockyBailx (16 October 2006)

Realist said:
			
		

> Well mate, you go put your hard earned into Cudeco shares, I'm sticking with PMH. And I know who'll come out ahead!!



Not a worry Realist, cladly take you up on your offer. If you didn't notice PMH shares went down another -0.02 today and I also think it will continue to fall and go sideways. As I will tell you why? Were as in my hands. CDU rose another +0.04 today as it continues to remain steady and rise slowly but surely. As I will tell you why? 

_*WHY;-*I believe you totaly overlooked PMH from the word go and you may continue to over value PMH at this time. Were as CDU wasn't overlookked by  me from its breakout piont because I was given a insentive and a warning towards CDUs movement and momentum at that time. because if you look back at your chart of CDU, you will notice that it became a bull before it brokeout. Enabling me to establish a CPMA, MVA and then in turn a MACD. that gave me a profit percentage to work with, and was'n it one hell of a percentage. The sells were then easy to reconise as the ASX put a trade holt on CDU. A very dirty and greedy disadvantage I thought._
_Were as you on the other had have put your all your penny's on a flat footed trade, something that doesn't last or go very far. I mean you put your money based on those fundermentals, but if you ask me its all hear say? And the momentum of PMH will not last, whilse charactoristics will slowly decline. I for one think PMH has got no chance for sum time. unless it can pull a rabit out of the hat!_  

Thats my wager are you still willing to put your sheep station down?:


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## Realist (16 October 2006)

You are talking bollocks.

CDU is $3.89

PMH is $0.43

On today's prices I would not touch CDU and I would recommend a buy on PMH...

We'll come back to this in a year....


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## StockyBailx (16 October 2006)

Realist said:
			
		

> You are talking bollocks.
> 
> CDU is $3.89
> 
> ...



Thats fair enough, I've got bugger all on CDU anyway.....,

But I wouldn't waste my Money on PMH
I'd put it on somrthing thats moving in the right direction today......,
abd not tomorrow.


Cladly see your results in 1 month or a week.......


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## chris1983 (17 October 2006)

Hi Stocky,

So are you predicting this to drop sharply?  or retract slowly?  I remember all earlier predictions were for the stock to retract sharply.  That hasn't happened.  My opinion is that it will continue sideways..even rise slightly untill they release the results from their Blue Rose copper gold project.  They should be releasing those drill results next and the project looks promising.


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## chris1983 (17 October 2006)

So what are your views on the SP of PMH today?  They seem to be holding strong IMO.  They hit resistance of around 43 and then the buyers come in.  That has happened twice now.


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## johnmwu3 (17 October 2006)

Last time hit low of 39.5c , yesterday 43c, seems down to hold up and consolidate.


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## powerkoala (17 October 2006)

looks like buyer appears last 10 minutes and drives sp higher...
maybe tmrw we can see another break to 50c, if dow and copper price hold position too


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## Realist (17 October 2006)

46.5 close, happy with that on what was not a great trading day for speccy miners.  CQT has an excellent announcement and got hammered for it.

PMH seems to have a floor around 40c.

Can it break 60c though?  that is wht I am hoping for..


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## tech/a (18 October 2006)

Looks like its going to have another run--pre market.


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## johnmwu3 (18 October 2006)

How do you say  from chart point ?


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## tech/a (18 October 2006)

elaborate.

Do you mean what do the charts say?


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## johnmwu3 (18 October 2006)

Yes, just that !


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## tech/a (18 October 2006)

This is a tick chart of the last few days including today.

As Realist has pointed out there appears to be a weak base at 43.5 ish.
However what all should be noting is that every rise including the great start today is being met by more sellers than buyers.
Confidence in pushing on isnt strong.
As I though it still hasnt reached beyond its original breakout.,and as other have also pointed out is likely to range around these sorts of levels.
There is also the risk that it may fall off simply due to lack of new buyers.
Below 40c will not be good.Sustained supprot above 65 will be!


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## johnmwu3 (18 October 2006)

Thanks, Tech.
Hope the Blue Rose results come out soon,and give it a push.


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## tech/a (18 October 2006)

Thats what it needs.

In the meantime you guys could have been in NLX---these are the sorts of opportunities that pass by when you sit and wait!


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## chris1983 (18 October 2006)

One thing I always say Tech-a is that its easy to say something when the train has allready left the station.  I have jumped out of shares in my short trading life and have learnt thats not the way I like to trade.  It doesnt work half the time..does work sometimes and its great.  Thats the way to play it if your a day trader.  I'll stay with this one like I said untill a bad message is put out or the sp drops with large volume to indicate something is wrong.  If that doesnt happen IMO it will just trade steady untill their Blue Rose drilling results are released or further updates are released with any of their projects.


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## chris1983 (18 October 2006)

I'm not saying NLX doesnt have potential.  I just hate selling out of one stock that I believe has great potential to go into another one.  I stick to my guns untill something turns bad.  Then I'll look for another one.  I sold out of SHA to buy PMH.  I only sold because I was sitting on a decent profit.  I believed PMH now has the opportunity to double as did SHA.  When that happens I might sell PMH.


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## tech/a (18 October 2006)

Chris.

Just different styles.
The majority of my funds are invested in longterm and like you thats the way I like to invest the majority of spare funds.

I have a short term capital base which I use for shorter term trading but no where near the funds appropriated else where.

I dont blame the longterm holders for taking that veiw.


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## johnmwu3 (19 October 2006)

Pmh traded on a narrow price range of 45-46c by more than 1 m today at present, how does that mean ?


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## chris1983 (19 October 2006)

They have been holding up pretty will IMO. Will see what happens.  I still think they will trade from 43-47 untill the next message is released.


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## pharaoh (19 October 2006)

Hey Chris

Any thoughts on when Blue rose results may come out?


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## chris1983 (19 October 2006)

I really dont know.  It must be just around the corner.  They commenced drilling at the end of July.  The fall in price today was on very low volume and quite a few other mining stocks got hit.  It will be interesting to see how they hold.  I still think they have 3 projects running that can all produce positive announcements so they have a lot of projects to factor into their SP.


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## tech/a (20 October 2006)

Bit quiet in here.


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## chris1983 (20 October 2006)

I got out today at 43.  Topped up my holding in Intec.  Practically broke even..lost a tiny bit.  I still think the holders could have a win with this one.  I found something I liked better that is coming into production.  I still believe Pacmag have a real shot with 3 projects with serious potential for good news but I wanted all my stocks to be producing..coming into production very soon or atleast commissioning their mine.  I might re-enter but I was just too tempted with Intec coming into production of their bulk zinc concentrates scheduled for the end of this month.


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## tech/a (20 October 2006)

Chris.
Like everything I think there maybe opportunity for those like you to still take advantage of possible rises.
Once PMH challenged the highs again and didnt succeed in breaking above it became clear that old buyers would just keep selling into strength.

Will be good to watch.

NORMALLY there is a slow drift into oblivion where in the end there is a mad selloff (Capitulation) and if it were me thats where I would think there is minimum risk if I was to buy and hold.
If wrong I just sellout if the capitulation low doesnt hold--no big deal--or hold for whatever comes. Nothing more annoying than watching a 50% plus profit turn to mud.Yeh Of course Ive done it!!


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## chris1983 (20 October 2006)

Well it was a potential profit for me..that turned into a very small loss.  I tend to not sell for smaller profits though.  I still believe Pacmag will rise.  It wont go down too much further if go down at all. I still think the price is fair in relation to all the news they have released.  The market is the ones who decide on the price of a stock though. I just jumped at the fact that I felt I didnt have enough Intec.  With the potential I believe Intec have I just had to buy more of them..so in order to do that I had to sell something..which could only be Pacmag because all my other stocks are performing very well.

All my stocks are producing..or coming into production..commisioning a mine..and PMH was more of a play.  Well not all my stocks..BMN is definately not coming into production yet   I just wanted something that was going to have money coming in which is why I moved out of this one.  Doesnt mean to say INL wont go down on monday.  Good luck to holders.  Once again if they say they can mine Anne mason economically. Then bam.  All the holders win because investors will jump on board big time not worrying or thinking about how long it would take to bring a mine online.  They also have the bluerose gold/copper results coming out.  Good luck.


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## wealthyshare (23 October 2006)

What has been happening with PMH? moving futher south, i think it might come down to 30c by next week, then i wll buy more and wait for one or two year.


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## johnmwu3 (23 October 2006)

Hope the next drilling ann. come out soon.
 PMH  present price undervalued imo.


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## tech/a (23 October 2006)

According to all the other fundies here its undervalued at any price.

This thread makes a good read.
Worse than a woman in a shoe shop!


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## powerkoala (24 October 2006)

does anybody knows when the news will come out?
up almost 10% now.


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## Realist (26 October 2006)

Realist said:
			
		

> I bought some more at 46.5c.
> 
> I think I am going crazy!   :bloated:





I sold these at 46c today.  For a 1% loss plus brokerage.

I wanted to reduce my holding. I'm off to Europe next week and need the money.

I still hold quite a few, but I was too overweight in PMH..


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## cuttlefish (26 October 2006)

powerkoala said:
			
		

> does anybody knows when the news will come out?
> up almost 10% now.




quarterly report out today say's they expect to start drilling on the NW part of Anne Mason (where they're hoping to find more high grade copper) in late October (i.e. in the next few days or maybe they've started).


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## Realist (6 December 2006)

PMH has been quiet for a while. but has broken out today and is now 50c.


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## chris1983 (6 December 2006)

Wonder what the trading halt is about.  Good luck realist.  I'm out of these but I never disliked them..just wanted to transfer my money into something that I thought would move faster.


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## Realist (6 December 2006)

Wow, it is a trading halt, I had no idea, but could tell something was up.

It'll be good news, and many insiders know it.....I think..


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## powerkoala (7 December 2006)

uhm.. out of luck here 
sold yesterday at 49.5c ... 
i feel something is wrong yesterday.. yet can't hold   
good luck with you, realist


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## coolbananas (7 December 2006)

I am relative new to trading and this is the first multi-day trading halt that I have been involved/caught up in.  I am hoping that yesterdays price move is an indication that some good news is on the way.  In the past the only trading halts that I have seen are just to release drilling reports and the like. These last for no longer than half an hour.   Anyone care to have a stab at what we might be expecting?  I suppose the obvious one is a takeover but what other reasons could there be?


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## Realist (8 December 2006)

Friday afternoon 3:58pm and still no word of why a Trading halt was called.

C'mon tell us!!


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## Realist (11 December 2006)

Results from the scoping study out, all good news, it is very much financially viable.

Opened and went up to 63c which is up 26%, come down to 56c now, up 12% from open today.

All good news!   :


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## sleeper88 (11 February 2007)

I took some time doing this on excel: 

Share Price 	             0.485
Issued Capital 	
   Ordinary Shares (m)	103
   Options (March 08) (m)	42.6
Fully Diluted (m)	             145.6
Market Cap (m)	             49.95
52 week low/high 	             0.17/0.63
Cash (m)	                          4.00
Investment in AGM (m)	0.645
Top 20 Shareholders holding 52.06%


Project: 	Ann Mason 
Location: Nevada, USA
Equity: 	100%
Status: 	Scoping Study Completed
Metals targeted: 	Cu, Mo 
Resource (mt):	             810
%Cu: 	                          0.4
%Mo:	                          0.004
Contained Cu (mt): 	3.24
Contained Mo (mt):	0.0324
Contained Cu (billion Ib):	7.1
Contained Mo (million Ib):	71.4
In ground value:	
Cu @ $US 2.50/Ib ($US billion) 	17.75
Mo @  $US 25/Ib ($US billion) 	1.785
Total in ground value ($US billion)	19.54

Exchange rate AUD/USD 0.77	
10% of in ground value ($A billion)	2.5376
5% of in ground value ($A billion) 	1.2701
2% of ing round value ($A billion)       0.507

Considering the market cap of PMH is approx 50m, is this one undervalued?, or is my calculations incorrect?, or is it simply because Ann Mason has such low grades?


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## Realist (25 February 2007)

> Considering the market cap of PMH is approx 50m, is this one undervalued?, or is my calculations incorrect?, or is it simply because Ann Mason has such low grades?




Well I think so.

I bought and held, and have been holding for about 5 months now I think.

It is in a trading halt at the moment.

And Chartists may note it has potentially broken out? There were obviously rumours pumping the price up before the halt.

Big news on Monday or Tuesday me thinks????

And no, this is not a ramp - its in a trading halt, you can't buy it anyway.


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## mmmmining (26 February 2007)

I am not fan of low grade copper mine unless it is in a developing country. I am not saying anything particularly for PMH. It might be a good company to invest after taking everything into account.

For example, at current copper price, the contained value for ore with 0.4% copper is about $25/t. The value is very miginal. Any cost increasing will put the operation in red.

Of course, the low grade copper project/mine is very sensitive to copper price. If the copper price is at $10,000/t, the ore is worth about $40/t.

For comparsion purpose, some kind iron ore worth $60/t, and thermal coal $50/t. Both of them require less mining process..


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## doogie_goes_off (9 March 2007)

High Strip Ratio = High Risk from slow start up. Try FNT for copper exposure.


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## qlksvr (31 May 2007)

I noticed that these volatile little suckers went from a trading halt and then requested to be in a voluntary suspension from the official quotation.  Any thoughts on whats going on? Maybe a possible deal going on?


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## samt75 (11 September 2009)

I have had this stock for nearly three years and have noticed in the last couple of weeks they have been climbing slowly and they're at 0.215c as i type.
Does anyone know anything about this company and how they are going and whether or not to hold on or just sell.
Knowing my luck as soon as i sell they will spike.


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