DNK - Danakali Limited

[YOUNG_TRADER]

Re: STB - South Boulder Mines

Hmm doing well since the ann

South Boulder Mines welcomes the support of Sprott Asset Management (“Sprott”) in participating in the issue. Integral Wealth Limited (Toronto)

A couple of Interesting points
1. The Share Price was 25c when the placement was arranged at 31c which is a nice premium, its so good when companies do this, ie place shares at a premium and to a good group

2. Sprott, who are they? Appear to be some large Canadian Fund/Insto, from google http://www.sprott.com/

3. Interesting that little old STB has drawn the attention of groups from Canada/Torronto

4. New directors look interesting


So it looks like this spec Agri player is ticking off the boxes so that its take as a serious player in the Agri sector, I wonder if they will acquire more projects?

 

[Spineli]

Re: STB - South Boulder Mines

Yeh I had a look at Sprott as well. They have quite a few active hedge funds and are probably looking to gain more exposure to poo stocks. And its interesting how South Boulder shot up on their radar.

 

[Sean K]

Re: STB - South Boulder Mines

Was an OK day yesterday, amongst a sea of red...

Could perhaps be breaking up from that dodgy ascending triangle, having bounced off .25 support nicely. Was in danger there I thought. Breaking .30 is great work, but I'm not happy with the selling pressure it comes under whenever it goes for a little gallop. Look at all the spikes on this chart, and sell offs from intraday highs. Would like to see a few nice white candles finishing on day high.

Agree with sentiments on the placement to Sprott.

Interesting board reshuffle. What did they do, sit around and spin a bottle to see what role they were going to take next?

 

[Bushman]

Re: STB - South Boulder Mines

STB are now in the Georgina Basin too - near MAK's Wonarah deposit.

They seem to be sourcing some good phosphate projects. Must have been some foreward planning in the process.

I like, I like. Bad day for MAK and RWD is probably dampening sentiment today.

I am a agri bull though so will give it more time.

 

[Bushman]

Re: STB - South Boulder Mines

Sprott Capital cap raising at 31 cps and the grant of the Georgina Basin tenements are starting to solidify 30 cps as a base (even I, amongst others, have said this before only to watch the sp plummet).

Nice close at 31.5 cps today. There was a monster trade of 1.4m shares that went through at 30cps today. It has not translated into a change of substantial ownership notice though? Will keep my eye on it.

Still a cheap explorer in a couple of hot commodities - potash, phosphate and gold. Cash is sorted for the moment too.

Lots of water under the bridge as always with an illiquid small cap explorer.

 

[Sean K]

Re: STB - South Boulder Mines

This is just an intraday chart, but looks promising for a final break through 30. (don't quote me!) As I've said, and others commented, it can surprise to the downside, and people like selling intraday for some reason...

 

[Sean K]

Re: STB - South Boulder Mines

Sold off again intraday, but much more positive the past 2 days. Broken up out of the triangle there and now has resistance at .35 to deal with. May depend on general market sentiment for it to break through. A probability of a .45 target on a break up from the acending triangle. (That's if you call it a triangle. I'm taking some liberty here discounting the spike in early May)

Ascending triangles

Trend: In order to qualify as a continuation pattern, an established trend should exist. However, because the ascending triangle is a bullish pattern, the length and duration of the current trend is not as important as the robustness of the formation, which is paramount.
Top Horizontal Line: At least 2 reaction highs are required to form the top horizontal line. The highs do not have to be exact, but they should be within reasonable proximity of each other. There should be some distance between the highs, and a reaction low between them.
Lower Ascending Trend Line: At least two reaction lows are required to form the lower ascending trend line. These reaction lows should be successively higher, and there should be some distance between the lows. If a more recent reaction low is equal to or less than the previous reaction low, then the ascending triangle is not valid.
Duration: The length of the pattern can range from a few weeks to many months with the average pattern lasting from 1-3 months.
Volume: As the pattern develops, volume usually contracts. When the upside breakout occurs, there should be an expansion of volume to confirm the breakout. While volume confirmation is preferred, it is not always necessary.
Return to Breakout: A basic tenet of technical analysis is that resistance turns into support and vice versa. When the horizontal resistance line of the ascending triangle is broken, it turns into support. Sometimes there will be a return to this support level before the move begins in earnest.
Target: Once the breakout has occurred, the price projection is found by measuring the widest distance of the pattern and applying it to the resistance breakout.

Just 2 days through the resistance, so still tenuous, and the old resistance hasn't really been tested, but looks promising. Concern is 35 resistance now and the willingness of sellers to come in intraday. Still!

 

[Spineli]

Re: STB - South Boulder Mines

Sold off again intraday, but much more positive the past 2 days. Broken up out of the triangle there and now has resistance at .35 to deal with. May depend on general market sentiment for it to break through. A probability of a .45 target on a break up from the acending triangle. (That's if you call it a triangle. I'm taking some liberty here discounting the spike in early May)

Ascending triangles



Just 2 days through the resistance, so still tenuous, and the old resistance hasn't really been tested, but looks promising. Concern is 35 resistance now and the willingness of sellers to come in intraday. Still!

Well its broken the 0.35 again. Last time it did that was early May.

Based on your chart, I'd say the ascending triangle leads to a near term target of around 0.40, although with the stocks pace in the last few days, you might be right in saying 0.45 (currently trading at 0.37, with support having formed around 0.35)

 

[Sean K]

Re: STB - South Boulder Mines

Market cap on this still seems pretty low compared to the other poo players at this stage of proceedings, down around $22m fully diluted.

Just $1m in the bank, so they may need a equity raising soon, or dump some of their investments.

Very hard to compare the apples, but with RWD and MAK on $100 and $200m abouts, you'd think there is some potential upside once they get moving.

 

[Spineli]

Re: STB - South Boulder Mines

It broke the 0.35 2 days ago, finished below that level yesterday and rebounded strongly today passing 0.35 to close at 0.375, up 0.035 (+10.294%) after reaching an intra-day high of 0.385.

According to the Fertilizer Project Schedule (see ann 15May), activities underway in June include:

- "Evaluate further fertilizer sector opportunities for STB" - Continuing...

- Lake Disappointment East (Potash) - "work program submittal and community consultation" - To be Completed June 2008

- Cardabia (Phosphate) - "Negotiate access agreement with traditional owners" - May08-to be finalised Mid-June 2008

- Cardabia (Phosphate) - "Data compilation and development of explorer plans" - To be Completed June 2008

- Cardabia (Phosphate) - "Work program submittal and community consultation" - Mid-June 08 onwards

- Canning Basin (Phosphate and Potash) - "Negotiate Access agreement with traditional owners" - June08- Mid-July08

- Canning Basin (Phosphate and Potash) - "Ongoing evaluation w.r.t. prospectivity" - June08 - ongoing

 

[Sean K]

Re: STB - South Boulder Mines

Unfortunately that ascending triangle break up fell over. Time for some more natural consolidation to occur. Should see it settle around these support lines and the green circle before any futher direction is clear. Resistance established around 37/38 the next challenge on the way back up. MC still undemanding with their potential as discussed above.

 

[mu5hu]

Re: STB - South Boulder Mines

my 2 cents,

After the end of today's trend, it might have formed a tweezer bottom formation.

SP hit lows of 31.5c today and yesterday.

fxwords.com
"The essential element of this pattern a series of candles that all share the same low. This could be the two days in the examples above, or a number of days that are not consecutive.

After a protracted bearish move, this may provide a weak reversal signal, but most traders will look for additional confirmation of a reversal.

More useful is how this pattern creates an important resistance level. In any market, trending or ranging, this pattern establishes a support level by sharing the same low prices. Support Levels are simply price ranges that markets have trouble breaking below. Thus the low price these candles all share creates a clear benchmark for the market."

Hotcandlesticks.com
"1st day consists of a long body candle. 2nd day consists of a short body candle that has a low equal to the prior day's low. The color of each candle body is not considered in the matching of this pattern.
Psychology...
The price action has trended downward then 2 consecutive days of equal lows signal support. This could signal a short term bottom is forming. "

So maybe things could look up haha but murphy's law, it will prob turn downwards instead. lol:

 

[Spineli]

Re: STB - South Boulder Mines

Ann just announced, South Boulder has acquired an option buy 100% of three granted licenses in the Georgina Basin in the NT...

EL26380, EL25983 and EL25982 covering approx 3,205 km^2 in the Southern Georgina Basin.

"Uramet has previously identified significant outcropping phosphate mineralisation including surface rock samples of up to 32% P2O5"

STB's Southern Georgina Phosphate Project now comprises a total area of 4,112km^2

....looks very promising

 

[Sean K]

Re: STB - South Boulder Mines

Ann just announced, South Boulder has acquired an option buy 100% of three granted licenses in the Georgina Basin in the NT...

EL26380, EL25983 and EL25982 covering approx 3,205 km^2 in the Southern Georgina Basin.

"Uramet has previously identified significant outcropping phosphate mineralisation including surface rock samples of up to 32% P2O5"

STB's Southern Georgina Phosphate Project now comprises a total area of 4,112km^2

....looks very promising

They have lots of land with crap on it, but when are they going to drill a hole?

Come on STB! Announce that you are starting a drilling campaign or something more significant than real estate owner****!

Chart wise, trending up into another ascending triangle. Hoping for a break out.

 

[Bushman]

Re: STB - South Boulder Mines

From investor presentation in May'08, they will start drilling potash (Lake Dis) in Sep'08 once the tenement is granted.

As for phosphate, you need to have the land to drill it so patience is required. Hopefully things are further progressed and we will get an updated timeframe sooner rather than later.

 

[prawn_86]

Re: STB - South Boulder Mines

I think the market is erring on the side of caution, because to many of the land that STB have is not yet fully granted or able to be drilled etc.

Once all the land owner approvals and loration licence approvals come through and some actual drilling starts, then perhaps it will move a lot.

kennas is right, its drilling that will get the price happening. The rate they are going they will have half of Aus in tenemants but nothing drilled!

 

[wipz]

Re: STB - South Boulder Mines

I think the market is erring on the side of caution, because to many of the land that STB have is not yet fully granted or able to be drilled etc.

Once all the land owner approvals and loration licence approvals come through and some actual drilling starts, then perhaps it will move a lot.

kennas is right, its drilling that will get the price happening. The rate they are going they will have half of Aus in tenemants but nothing drilled!

Whats wrong with that? Kind of ring any bells guys? - Reminds me of FMG
Good potential here, just let em do their thing.

 

[Sean K]

Re: STB - South Boulder Mines

Whats wrong with that? Kind of ring any bells guys? - Reminds me of FMG
Good potential here, just let em do their thing.

Reminds you of FMG because they both mine Iron, or RP, or Potash?

And the demand for both is the same in the same sectors with the same S&D prospects?

RightO.

Chart wise, trending up into another ascending triangle. Hoping for a break out.

Chart update.

Broke up from the triangle intra day and goes to show why you should not call breakouts intraday. Can be embarrassing.

Still trending up and respecting the uptrend line quite well. Surprising actually. Can't keep doing that for ever.

In the mean time, lets dig some holes STB!!!

 

[Bushman]

Re: STB - South Boulder Mines

Broken down of the last few days with sell depth greater than buy depth for the first time in a long time.

Lets see where it finds support. A shizen load of shares were bought above 30cps so I am tipping it will find support in to 30-31 cps range.

This one will only move on news - ann tenements being granted and the start of a drilling campaign would be great as mentioned previously in the thread.

 

[Sean K]

Re: STB - South Boulder Mines

Looked like it was going to hold at 30 bushy but the overall market conspired to send it lower.

That ascending triangle mentioned above obviously clearly failed at the green circle.

Has recently found support at .25, but still trending down.

Perhaps this market bounce and record potash will give it a boost.

I'm out for the minute waiting on clearer positive direction.