CUL - Cullen Resources

[chris1983]

Remember this

Initial JORC Resource Estimate of 68 million tonnes

AQA:Initial JORC Res Estimate West Pilbara Iron Ore Project

Thats why they are heading up. I also wouldn't count out new uranium EPLS being granted. This is another reason why I took a position.

 

[UPKA]

looks like end of FY sell down today, alot of my holdings r down when they shouldn't be! i think its ppl that got in at the peak of the wave, and now selling for a loss to offset their gains. if US dont fall south over nite, monday should be better, or even this afternoon!

 

[YOUNG_TRADER]

Sorry, YT, I didn't realise that a few my lines cause so big anger from ASF members. To be honest, most of ASF members are very inexperiences, and just making noises. I don't give a dime about them. A few like you, and Chris1983 are excellent.

Well, I am glad that you have sort out your figures, and provide more info to back up your valuation. This is what a forum is about. And your further analysis makes sense to me now, but disagree with your comments on RMI. 17mt, $1b in ground value is not a joke. They just need very strong management team.

Good luck with your CUL holding if you still hold it, and keep good posting.

Like I said RMI = Stranded small deposit with no clear funding option yet (if this changes then its another story)

Where as CUL = Smallish Net Interest yes, but only a first pass JORC, but is anyway part of a much larger project that should meet development hurdles, also I expect more once more drilling is done + JV to major partner owned jointly by AQA and US Steel Mills = Funding + Offtake

There is a clear difference between the 2,

 

[YOUNG_TRADER]

A few people have pm'd me asking about the technicalities of the Catho Well Deposit,

LOI = Loss on ingnition

I have already said that Catho Well's characterisitics are the most favourable of the lot of the API West Pilbara deposits and hence will be very useful as blend Ore,

This is directly form a CUL ann

The Catho Well resource has similar iron grades to the pisolitic ores mined at Robe River and Yandicoogina (~57% Fe). The average alumina (Al2O3) grade within the Catho Well Resource is the second lowest (this is a good thing) of the five resources in the project area, and there may be the opportunity to beneficiate and also to blend this resource with other resources in the area in order to manage potential product specifications. The average phosphorous levels at Catho Well (0.038%) are the lowest of the five resources, and the average LOI, at 10.13%, the highest of the five resources. These are favourable characteristics of this potential ore material.


Re the feasibility Study:

API has initiated a Pre-Feasibility Study for its West Pilbara Iron Ore Project and dur ing the last Quarter, received a number of reports relating to: the Port Options Study; Transport corridors; and Process plant basis for design and operating criteria. API also commenced planning to utilize a continuous surface miner to dig a bulk sample. Studies are on-going.

Results could be out anytime now

Also check the ann yourself for proof/verification http://www.cullenresources.com.au/pdf/2007/070516_Cullen_Release.pdf

 

[YOUNG_TRADER]

I think ths this breakout above 6.4c is almost 100% confirmed,

It has held above 6.4c very impressively yesterday and today,

I don't think it will dip below 6.4c now,

Niz Chris Kennas thoughts?

New level?

 

[chris1983]

I think ths this breakout above 6.4c is almost 100% confirmed,

It has held above 6.4c very impressively yesterday and today,

I don't think it will dip below 6.4c now,

Niz Chris Kennas thoughts?

New level?

Im happy with the action YT. Buy side is stacked down to 6 and it had a lot of support at 6.4. It dipped below that level in the morning but didn't stay below 6.4 for long. I think it will push up higher in the coming weeks. I also dont believe all this action was stirred by traders. Some of it was..but not all. I think there is something we don't know about...granting of uranium tenements maybe? Thats my bet. When you throw something in like that on top of the recent JORC released for their deposit in the West Pilbara they are looking very cheap to me.

 

[DR225]

Hi everyone,
New to forum
Experienced members with great talents here and that is the main reason I signed up today.
I am new to investing and trading.
I hope to learn a lot from other members.

I hold AUZ, CUL, THR.

DR225

 

[nizar]

I think ths this breakout above 6.4c is almost 100% confirmed,

It has held above 6.4c very impressively yesterday and today,

I don't think it will dip below 6.4c now,

Niz Chris Kennas thoughts?

New level?

Hi YT.
Yes i am prepared to buy this one now.
In all honesty i expected it to get utterly smashed today as T+3 traders closed out their positions as they dont like holding over the weekend.

A white candle was important for today and it managed it.
The two tails from today and yesterday confirm support at the 6.4c level.

Agressive entry would be to buy on monday and place a stop with a close below 6.4c.

Maybe a bit of resistance at the 7.4c level. Got knocked back when it hit this yesterday and today and this is also the peak reached in 2004. Maybe.

Overall looking very good.

 

[ALFguy]

Im happy with the action YT. Buy side is stacked down to 6 and it had a lot of support at 6.4. It dipped below that level in the morning but didn't stay below 6.4 for long. I think it will push up higher in the coming weeks. I also dont believe all this action was stirred by traders. Some of it was..but not all. I think there is something we don't know about...granting of uranium tenements maybe? Thats my bet. When you throw something in like that on top of the recent JORC released for their deposit in the West Pilbara they are looking very cheap to me.

I'm with you on this Chris. Felt there was too much buying strength over the last couple of days for it to be simply day traders.
Based on that, I bought on Friday during the slump.

As nizar said, I also expected it to get smashed on Friday, but it held up extremely well.

 

[YOUNG_TRADER]

Hi YT.
Yes i am prepared to buy this one now.
In all honesty i expected it to get utterly smashed today as T+3 traders closed out their positions as they dont like holding over the weekend.

A white candle was important for today and it managed it.
The two tails from today and yesterday confirm support at the 6.4c level.

Agressive entry would be to buy on monday and place a stop with a close below 6.4c.

Maybe a bit of resistance at the 7.4c level. Got knocked back when it hit this yesterday and today and this is also the peak reached in 2004. Maybe.

Overall looking very good.

Hey Niz,

Yeah I was surprised at the late sell off on Thursday at 3.45pm and didn't know what to make of it,

And for alot of Friday it looked weak, but one thing seemed clear, buyers were coming in at 6.4c, sure it dipped just below it, but they came in and took it up,

That being said don't you think that having a stop at 6.4c is too close? Just curious to know how you play things,

 

[nizar]

That being said don't you think that having a stop at 6.4c is too close? Just curious to know how you play things,

Yeh i said stop if it closes below 6.4c for an agressive entry.
I dont do agressive entries anymore ever since i got stopped out of WMT at 5.8c and it went to 46c. LOL

My stop would be nice and loose at 5c.

 

[cuttlefish]

Tight stops keep you in the game when jumping on a run. 5c stop from >7c entry is a big percentage loss (nearly 30%) meaning less capital allocation so less potential profit. If you get stopped out you can usually re-enter lower if you've got the discipline to do it - the exception being intraday stop farming which is a pain if you use automatic triggers (I've stopped using them except for wide stops - be nice if there was a way to code some timeframe, price, volume rules into the automatic triggers). If you believe in the fundamentals different story and probably different approach to setting stops.

 

[toc_bat]

nizar

if your stop would be 5c then what would you be looking to buy in at? i assume when you say aggresive your prepared to pay around the 7-7.3c mark that it finished off around on friday, if a buy at 7.3c then a 5c stop means you are willing to see a loss of 30% before you sell out - is that right?

bye and thanks

 

[Fool]

Guys is that 2.4mil sell order at 7.2c a capper at work?

I guess we have to wait and see if someone takes a bite at it if it stays there or get pulled.

Just curious to see other people's opinions on it.

It's actually good news if it is... someone considers this stock so precious they want to accumulate more.

 

[UPKA]

Guys is that 2.4mil sell order at 7.2c a capper at work?

I guess we have to wait and see if someone takes a bite at it if it stays there or get pulled.

Just curious to see other people's opinions on it.

It's actually good news if it is... someone considers this stock so precious they want to accumulate more.

he/she must be pretty brave to put in a 2.4m cap, from the last few trading days, we saw bunches of sell orders like this get taken out in seconds. so unless he/she has lots of guts or a genuine seller.

 

[YOUNG_TRADER]

Guys is that 2.4mil sell order at 7.2c a capper at work?

I guess we have to wait and see if someone takes a bite at it if it stays there or get pulled.

Just curious to see other people's opinions on it.

It's actually good news if it is... someone considers this stock so precious they want to accumulate more.

Earlier, like this time last week I would have said yes, but now given the volumes I don't think so,

I think it will take time to have the fundamentals of this company play out,

And after having a chat to my broker I may have underestimated the Nickel potential for CUL,

Apparantly where the BHP JV is at Gunbarrel searching for Nickel, another company named Regis RRL hit a huge 150m Nickel Sulphide Intersection, my broker wasn't sure how close CUL's/BHP's Gunbarrel was to where RRL made the hit but said they were proximate, I haven't checked this though,

Also apparantly the Nickel JV with HNR is near WSA's Flying Fox Mines, which have JORC 1.5Mt@6% Ni +

So the Nickel maybe alot more prospective than I thought

 

[Fool]

I definitely think it's a capping order now.

If the guy wanted to sell, he would have adjusted his order by now, or sold at market to get out of the stock.

No one (at least I wouldn't) would have held on this long.

Someone's accumulating.

Definitely a good sign anyway that someone is happy to accumulate at this price.

 

[juw177]

Can someone explain the logic of a capping order? He puts a large sell order to keep the prices down so he can buy more? But if his order gets knocked out, chances are the price will keep going up right?

 

[UPKA]

Can someone explain the logic of a capping order? He puts a large sell order to keep the prices down so he can buy more? But if his order gets knocked out, chances are the price will keep going up right?

yep that right, well in most cases that is. bt i doubt its someone capping it, not for this stock, we've seen over the last few days how quick the sell order were taken out in large quantities. if it is capping, he/she is playing with high risk here, or unless he/she has alot more holdings so the risk of losing 2.5m shares is prob a small portion of their holdings.

 

[ongchuan]

Someone just snapped up part of the 0.072 cent deal. Could be beginning of the day!!! Let's hope it will go up. Good prospect with this company as mentioned by all of you guys....