GCR - Golden Cross Resources

[blehgg]

Rarrrr -

wish I had capital to top up

Oh I'm kicking myself now

Should have sold TNG ~ GAHHHH

Wish I wasn't locked up ~ (lucky its locked up on DMM )

 

[juw177]

So who here has been shaken out by the break below 4c?

I picked up some as this looks like a classic shake out pattern and a whipsaw is very probably... unless the market tanks or something.

Looks like I was right about that one. Create some fear with a few big volume sell downs, trigger some stop losses, then when the last seller sells, it the move up begins.

 

[Pat]

Looks like I was right about that one. Create some fear with a few big volume sell downs, trigger some stop losses, then when the last seller sells, it the move up begins.

Too true juw177, but catching that knife can cut you bad. I picked some up yesterday but am not sure if I should be holding, so I sold on open for a quick buck. Still have cold feet (thanks to VRE) when it comes to micro caps. Good luck and hope many more opportunities to buy still present themselves.

 

[Fed23]

Rarrrr -

wish I had capital to top up

QUOTE]

Im here with you, Im tapped dry.

With all the JV it has I can see it going places. in regards to Coppers Hill is it looking to start producing with a partner? I thought GCR was jsu tabout finding good locations and getting a partner to come in and do the work for them and they take a %.

 

[adamim1]

I was almost going to sell out a few days ago. Yesterday i saw MAK RWD and GCR all go to ****..... i hold all 3. Today MAK is worse, RWD climbing back and now i'm up on GCR

 

[juw177]

Too true juw177, but catching that knife can cut you bad.

That is true especially when there has been no historical support in the mid 3c area. What convinced me from a technical perspective was the low volume consolidation above 4c after a high volume breakout.

 

[coladuna]

What are people's opinions on the announcement released today about retracting resource estimates for the phosphate project?
I was looking to get in on the action yesterday and missed it. Glad I did!
Maybe a good chance to pick these up for cheap?

 

[Whiskers]

What are people's opinions on the announcement released today about retracting resource estimates for the phosphate project?
I was looking to get in on the action yesterday and missed it. Glad I did!
Maybe a good chance to pick these up for cheap?

I think it was just some nerd in the ASX doing a bit of nit-picking. :

Kim Stanton-Cook made it abundantly clear in the quarterly report and the day before that it wasn't a JORC estimate or resource by referencing the original Qld gov source.

I doesn't change anything for me. The same amount of phosphate is still there, it's just that it's not 'officially' there until it's measured under JORC rules.

 

[YOUNG_TRADER]

Sheesh no respect for 4c support or resistance,

I thought support at 3.6c too, but recent action tells me I'm wrong

Could a techie please post up a chart with where they see support and resistance levels, as the lines I have drawn in on mine are stampeded through without any pausing

 

[dubiousinfo]

Legend are planning to list locally. Planned start date of mid 2010 for phosphate production. .

Robin Bromby | June 02, 2008

JOSEPH Gutnick is about to make a big splash back into the Australian share market, listing an already well-financed phosphate play in Queensland on the ASX after years of focusing most of his activities to the US.

The legendary Australian mining promoter and Lubavitcher rabbi has seemingly reversed his staged withdrawal from the local market and is working on a plan to have his US-based Legend International Holdings listed here.

After years of great successes (his companies' big gold finds at Bronzewing, Jundee and Plutonic) and crashes (the failure of Centaur Mining & Exploration over laterite nickel in March 2001) here, Mr Gutnick has been very low key in Australia in recent years, more noted for his exits than his entrances.

He has exited Johnson's Well Mining, Astro Diamond Mines and Great Gold Mines to concentrate on raising money in the US -- where Legend was financed. At present, his only locally listed company is Quantum Resources.

Legend, which has a market capitalisation of $US586 million ($614 million), is traded over the counter in the US.

But Legend's management has reportedly concluded that Australian investors are simply not comfortable with the complexities of buying US over-the-counter stocks, hence the plan to have a secondary listing on the Australian Securities Exchange.

The company sees a local listing as logical, considering the operations will be based in Queensland.

But this would involve trading existing shares -- there are no plans for any immediate capital raising here.

Ten days ago, Legend International raised $US100 million from 25 North American and international institutions.

Mr Gutnick is out of Australia and could not be contacted.

Phosphate plays are the latest to excite Australian investors on the back of soaring demand for fertilisers world-wide and rocketing prices for feedstock.

Rock phosphate traded at an average $US42 a tonne between 2001 and 2007 but the price has recently shot through $US400/tonne as the world's farmers struggle to meet the demand from the newly industrialising countries -- especially Brazil, Russia, China and India -- for higher-protein food.

The only Australian manufacturer of phosphate fertilisers, diammonium phosphate and monoammonium phosphate, is Incitec Pivot, which operates the Phosphate Hill mine, 150km southeast of Mount Isa.

Local investors in the past two months have been inundated with announcements from a rash of junior explorers pegging prospective ground for phosphate. Last week, newcomer Phosphate Australia launched a $10 million initial public offering.

But while these companies are facing extensive exploration programs, Mr Gutnick's company has already locked in one big international customer. Legend has a contract with Indian Farmers Fertiliser Co-operative -- that country's largest fertiliser seller -- to supply 3 million tonnes of rock phosphate a year from its Lady Annie project in the Georgina Basin, near Mount Isa.

Legend describes Lady Annie as "one of the largest undeveloped phosphate deposits in the world" and plans to produce 5 million tonnes a year at the project, starting mid-2010.

Lady Annie and associated deposits hold about 1.4 billion tonnes of ore at 16 per cent phosphate, according to a recent Legend presentation.

The development plan is to build a 300km slurry pipeline to Karumba in the Gulf of Carpentaria, the port used by the Century zinc mine.

A recent report on phosphate from brokers BBY said phosphate rock demand was forecast to increase by 33 per cent through to 2020, although some predictions are more bullish than that.

 

[Jarrah Tree]

This can only help our cause. Pitty no mention of GCR. I jumped on board Friday with a small parcel at 3.9c, bargain!
Thanks to Young Trader and also Whiskers for your informative and well researched posts, I read through all 16 pages yesterday. Interesting that the last 8 pages of posts came in the last month alone. Plenty of interest in GCR atm and favourable ann will quickly kick things along.

Good luck all.

 

[Whiskers]

Well, from an amateur techie point of view, I'd have thought .042 (38.2 fib) was looking good support for the continuance of the price upwards.

But despite the price falling a bit below that on much lower volume with the general market jitters, I am confident the Aus market will turn up in earnest shortly to finish a 5th leg up to new recent highs driven by the resources sector.

The GCR price has also bounced off the bottom bollinger band, the stochastic has bottomed which if the trend continues should also reflect in the MACD turning up again shortly. My moving averages also suggest the price has over-corrected in the short term trend.

As for stronger support... well I guess one has lo look for .025ish. .

 

[YOUNG_TRADER]

Legend are planning to list locally. Planned start date of mid 2010 for phosphate production. .

I reckon thats great news for us GCR'ers as it will make the cross valuation lot easier and much more readily accepted I'd say

 

[Fed23]

What a joke of day. Closed at 3.6c, total of 14trades, no news released to bring the SP down. It's just not working for GCR lately.

 

[Max_ob]

well well well. . . .

3.4c finish, 800 000 shares about in last 9 trades in last 5 minutes for 35/34 c. . . . .



how does one interpret this?

don't know why i didn't cash some profits before this stock lost all its followers. . . ( been wanting to use this smilie for ages. . . and now that i can, it isn't as pleasurable as i thought it would be!)

 

[Fed23]

This is just disappointing and it's hurting the hip pocket aswell...

I dont understand why so many have sold... it's not like all it's resources disppeared they just aint JORC.

 

[Pat]

Guys GCR ran 200% in less than a month. Some consolidation is not unusual. On a 6 month chart it looks like a normal retrace. We await the turn around... 2.5 cents looks to be the bottom

 

[Miner]

Guys GCR ran 200% in less than a month. Some consolidation is not unusual. On a 6 month chart it looks like a normal retrace. We await the turn around... 2.5 cents looks to be the bottom

Thanks for your good target suggesting GCR could stabilise at 2.5 cents

I am hoping to top some more then after buying them at about 5 cents very recently.

 

[Max_ob]

yep. . . . having hit 3.4 . . . and checking the charts. . . .a defined downtrend is established if it breaks through this tomorrow, and if it does, "i think it will go all the way baby" . . . . to the mid 2's plus or minus .3 c


a bounce off 3.4 would be nice . . . we need an announcement for that i would say. . . . maybe a rumour


hey, but then really i know little and all the above is just sharing my disappointment too. . . .

 

[JTLP]

3.4 cents does look to be some sort of support.

Judging from my very amatuer charting skillz...the 200 MA seems to be fairly flat, as well as the 60 MA...so maybe this is support and forming some sort of a bottom?