ERN - Erongo Energy

[chris1983]

Even to a depth of 25 meters they have over 6.5 million pounds of uranium. The point is they have uranium. Let them drill it out now to prove the historics and they will get a re-rating. Market cap is still very small. They also have 3 key prospects to work on and they will find more prospects on their licenses..they have a huge land coverage in Namibia so there is a lot of work to be done but if you weigh everything up it looks very positive.

They also dont only just have uranium but have their supposed "significant" mineral sands projects which look like they could result in an in-specie distribution to share holders. Good luck if you decide to jump onboard.

 

[chris1983]

Hit a high of .58 EURO lastnight on strong volume in Germany.

Volume: 1,748,098

0.58 EUR = 0.941807 AUD

Finished at

0.545 EUR = 0.884881 AUD

What will the day hold...

 

[Reefer]

Jeez, I might go and live in Germany. They seem to rate our ERN's much higher over there.

 

[kevro]

Just had a thought.

Can you buy in Oz and sell in Germany?

 

[chris1983]

Just had a thought.

Can you buy in Oz and sell in Germany?

haha..dont know? So much effort..could make you a lot of money though ERN are a little annoying. They are still very cheap IMO..go up in Germany..hit a high of 94 aussie cents..yet they fall here and are into the red now..thats the way it goes though. Just have to wait. These ones move up slowly..seems to be the way they are. Which isnt a bad thing. As long as they continue up.

 

[chris1983]

Moving nicely on low volume. If it closes at these prices its the highest its ever closed. Currently at 86..and the 52 week high is 87

 

[nizar]

Moving nicely on low volume. If it closes at these prices its the highest its ever closed. Currently at 86..and the 52 week high is 87

Yeah blue sky close.
Just like BLZ.
Im looking forward to next week

 

[Halba]

Importantly look at mkt depth, next resistance late 80s low 90s. A favourable ann and it looks like it'll break. Not too many sellers, looks like a sophisticated investors stock, absolutely no sign of mums and dads.

ERONGO ENERGY FPO

Stock Bid $ Offer $ Last $ Change* Open $ High $ Low $ Volume News
ERN 0.845 0.860 0.860 +0.020 0.840 0.860 0.830 238,712

Buy | Sell | Add to Watchlist | Research | Chart | Print | Help

Market Depth
BUY SELL
Number Quantity Price
5 212,900 0.845
6 110,000 0.840
1 30,000 0.835
1 15,103 0.830
1 60,000 0.825
2 26,300 0.820
2 26,400 0.810
1 2,000 0.790
1 100,000 0.775
4 53,000 0.760
#
1
2
3
4
5
6
7
8
9
10
Price Quantity Number
0.860 5,023 1
0.875 19,200 1
0.880 101,750 4
0.890 17,000 2
0.900 214,000 4
1.000 10,000 1

 

[chris1983]

Its been trading at an unusually high volume in Germany over the past few days. Maybe they know something we don't know.

 

[Sean K]

Importantly look at mkt depth, next resistance late 80s low 90s. A favourable ann and it looks like it'll break. Not too many sellers, looks like a sophisticated investors stock, absolutely no sign of mums and dads.

There is no resistance past 86 cents. 'Sophisticated Investor Stock.' LOL.

Fundamentals no change so must go to the chart.

(I've taken some profits)

 

[chris1983]

Trending up isnt it..just like Bannerman. Like a replica Whole reason im onboard.

Looks like off the charts they could fall back..based off the MACD etc etc..I cant do charts though. Kennas if you were playing it off the charts...would you predict right now as a good time to sell..it looks that way doesnt it after all the previous pullbacks..

I just cant do charts though..what if they come out with an announcement..all that charting is thrown out the window.

 

[Sean K]

Trending up isnt it..just like Bannerman. Like a replica Whole reason im onboard.

Looks like off the charts they could fall back..based off the MACD etc etc..I cant do charts though. Kennas if you were playing it off the charts...would you predict right now as a good time to sell..it looks that way doesnt it after all the previous pullbacks..

I just cant do charts though..what if they come out with an announcement..all that charting is thrown out the window.

I'm treading carefully at the moment with how long I hold all my speculative stocks. Once I've seen a decent rise, or the chart is telling me overbought, I'm taking profits, or getting out completely. This is purely on my belief the XAO is getting toppy and any correction will punish small caps and speccies the most. I only have a couple of large cap 'blue chips' at the moment, and I'm happy to keep them. Most of my money is actually in managed funds now. (don't laugh)

I took some profits off ERN today because of the reasons I have given in the chart above, but will happily be back in if conditions change, or if it's proved that it has started a new bullish phase. It's stepped just out of the 1 year channel now, and yes, MACD and stochastics are confirming it has done this and telling me it will probably pull back a bit. That is only a 'probability' of course.

And yes, if a awesome ann is released, or U spot jumps another 10%, or if there is a general crash, then throw this out the door. Or, more correctly, re-evaluate.

Must say though, this is all pretty short term stuff, and really only relevant to short term traders. (long term charts not quite as relevant here) If the fundamentals are there with this stock, then who cares about short term movements? Buy, and then only change your view on the stock if the reasons you bought it have changed. Eg, no uranium in them there hills. That seems unlikely from what has been presented so far, but there are many other fundamental factors that will present themselves when re-evaluating a position here of course.

 

[chris1983]

If I was playing ERN based off the charts I also would be selling. As you probably know..I like to hold stocks for atleast a year so I dont pay much tax..Then I'll sell enough to free carry the rest. Finding stocks with good fundamentals and a chance to grow into something big is a good challenge..eg BMN,AOE,AGM

I think ERN fits the category. Its good you didn't sell them all because I think they are still too cheap. This is purely my opinion

 

[nizar]

Kennas you have your methods, and you are more experienced than me.
But for me, i usually BUY blue sky stocks, not sell.

 

[Sean K]

Kennas you have your methods, and you are more experienced than me.

Doubt that!

But for me, i usually BUY blue sky stocks, not sell.

Yep, I sometimes do the same. Unfortunately, this wasn't blue sky when I sold it, and just thought it was getting toppy as I explained above. Perhaps unlike you, I look for turn around set ups, and try and get them before they run.

This has been pretty bullish since it broke through 70. I'm happy to have some $$ in my hand for the moment.

Gotta say, the past 2 weeks have been particularly bullish for this. Lots of tails on the candles indicating great buying support.

 

[nizar]

Perhaps unlike you, I look for turn around set ups, and try and get them before they run.

So do I. At times.
MLS i was in before it ran, and BLZ, well thats another story. DYL as well.
Yourself probably much more but thats not the point.

But the point i want to get across is getting into blue sky doesnt mean the run is over, but rather its just the beginning, and its NOT too late to jump on.

By the way, wasnt THX a mad set-up when it pulled back to 50c??

 

[chris1983]

Update for ERN followers. ERN continues to trade strongly on the German exchange..there was a bit of a sell off yesterday but it still traded at high volumes of around 1.5 million shares. Today ERN are up .043 EURO and were up .063 EURO at one stage. Current price is below.

0.55 EUR = 0.895411 AUD

High for the day was

0.57 EUR = 0.928102 AUD

Current ask is .56 EURO.

 

[svensk]

Chris, has there always been a strong correlation between german and aus prices?
Is there a particular reason the germans are paying more for the stock than we are? More optimistic perhaps?

 

[chris1983]

Chris, has there always been a strong correlation between german and aus prices?
Is there a particular reason the germans are paying more for the stock than we are? More optimistic perhaps?

Hi svensk. Not 100% sure. Erongo finished at .56 EURO if anyone wants to know. Traded a volume of 1,616,400.

Larger volumes have been traded over there for the past week. Maybe they have less shares on issue to be traded on their market? I really dont know how it works. If there is less shares they are illiquid and harder to get a large holding in..thats just a guess though..or yes maybe they are more optimistic. Definately been trading a lot larger volume over there than here lately though. Interest in this stock has definately picked up a bit. Anyone else with suggestions?

 

[Halba]

A few reasons why it is going up:

1 - Recommended in a German tip sheet newsletter (a reputed one, think like Dines newsletter for Americans which tripled ACB and WMT's share prices).

2 - Drilling about to commence.

3 - Other new details/mineral sands/ in quarterly report due end of April.