ACS - Accent Resources

[INORE]

25 July 2007
The Announcements Office
Australian Stock Exchange Limited

Results of Test Work at Mt Gibson
Please find attached a Media/Press Release detailing test results of drill samples at the
company’s Mt Gibson project.
Yours faithfully
Ranko Matic
Company Secretary
MEDIA/PRESS RELEASE
HIGHLIGHTS
VERY GOOD TEST RESULTS OF DRILL SAMPLES WITH
MAGNETITE WEIGHT RECOVERY>45% WHICH IS HIGHER
THAN MOST PILBARA AND MIDWEST PROJECTS GIVES
ENCOURAGEMENT FOR FURTHER DRILLING AND
ESTABLISHMENT OF A MAGNETITE RESOURCE DEPOSIT
AT MAGNETITE RANGE PROSPECT , MT GIBSON (ACCENT
RESOURCES NL– 80%, MAWSON WEST LTD – 20% )

 

[YOUNG_TRADER]

With 10kms of strike and avg hits of 40m I think that they will quiet easily get the 100Mt's, but more realisticly 200Mt's

Shares appear to be falling back, I bought at 23c and will look to buy more above 20c

 

[wigaz]

Hey Guys,
I bought some ACS about a week ago. Liked the look of it. Anyway more to the point: I am just curious about you opinions on why the SP went down today after what I thought was a very positive announcement? Is there something I've missed?

Though I'm not woried I sure am curious to see why its come down, and on reasonably high volume ($200K).

Cheers,
W

 

[UPKA]

Hey Guys,
I bought some ACS about a week ago. Liked the look of it. Anyway more to the point: I am just curious about you opinions on why the SP went down today after what I thought was a very positive announcement? Is there something I've missed?

Though I'm not woried I sure am curious to see why its come down, and on reasonably high volume ($200K).

Cheers,
W

alot of ppl r sitting on big profits if they bought in last mth or prior, and the market went down today, prob got a few ppl scared which lead to the sell down. OR may be the current annoucement is already priced in from few days ago..

 

[kromey]

Hey Guys,
I bought some ACS about a week ago. Liked the look of it. Anyway more to the point: I am just curious about you opinions on why the SP went down today after what I thought was a very positive announcement? Is there something I've missed?

Though I'm not woried I sure am curious to see why its come down, and on reasonably high volume ($200K).

Cheers,
W

The 12c placement shares will be tradeable from Friday could be a bit of a concern. Just thinking back to WMT 21c placement when they started trading price fell from high 30's to 16.5c before recovering.

 

[Sean K]

The 12c placement shares will be tradeable from Friday could be a bit of a concern. Just thinking back to WMT 21c placement when they started trading price fell from high 30's to 16.5c before recovering.

They didn't fall this much in one day kromey, it happened over weeks I thought, and I thought that was related to the stock being overvalued and a lack of news, so I don't think there's any need to immediately panick. LHG sp dropped a few % when the rights issue was announced, but recovered slightly but didn't trade anywhere near the issue price. You would expect a few to take a stag profit, but if the stock is that good, others will take the opportunity to buy more, perhaps. Will be interesting to watch

 

[toc_bat]

With 10kms of strike and avg hits of 40m I think that they will quiet easily get the 100Mt's, but more realisticly 200Mt's

Shares appear to be falling back, I bought at 23c and will look to buy more above 20c

Hi YT, i am a bit intrigued by your statement, anyway im only asking to try to learn, when you say above 20c, do you mean at 20c? anyway im just wondering out loud to try to learn a few things, as since it is at 26c now does that mean you are currently buying?or are you saying it maydrop below 20c and if it starts to head back above thats when you will buy, questions questions, sorry, anyway thanks for all your activity but im just worried that youll be such a seriously wealthy man soon you will retire and leave bloodsuckers like me with nothing to feed of but our meagre abilities, ok see ya

 

[greggy]

With 10kms of strike and avg hits of 40m I think that they will quiet easily get the 100Mt's, but more realisticly 200Mt's

Shares appear to be falling back, I bought at 23c and will look to buy more above 20c

Hi YT,

ACS looks very interesting. Iron ore continues to be very hot. ACS is also now cashed up following its recent placement. Thanks for all the info.
DYOR

 

[Sean K]

Hi YT, i am a bit intrigued by your statement, anyway im only asking to try to learn, when you say above 20c, do you mean at 20c?

On any inevitable pullback you expect a stock to retreat to around established support levels to consolidate. (sometimes they don't of course) Weak hands and day traders jump ship, while investors accumulate, or new investors jump on.

My current support lines are shown on this chart.

Good to see volume dropping off during the consolidation.

 

[KIWIKARLOS]

Im very surprised that the ann these guys made the other day didn't give it upwards momentum. The news was very good, I guess we will have to wait for more drilling samples to come back but if they have only started drilling now it could be 6-8 weeks before we get more info back on the project?

Any thoughts on a predicted timeline of milestones / events ?

 

[YOUNG_TRADER]

Hi YT, i am a bit intrigued by your statement, anyway im only asking to try to learn, when you say above 20c, do you mean at 20c? anyway im just wondering out loud to try to learn a few things, as since it is at 26c now does that mean you are currently buying?or are you saying it maydrop below 20c and if it starts to head back above thats when you will buy, questions questions, sorry, anyway thanks for all your activity but im just worried that youll be such a seriously wealthy man soon you will retire and leave bloodsuckers like me with nothing to feed of but our meagre abilities, ok see ya

Hey Toc,

I will look to buy more around say 20c-22c,

I too will wait to see what the brokers do, as I said this is a risk, but I doubt a big one as from what I understand it the shares were placed to people close to the company who I would assume know the value of Mt Gibson project and hence aren't looking to Stag a short term profit

As I said, once 100Mt's is firmed up I expect 40c-50c because of the fact that we know the company will sell the project to the Chinese

Cheers

 

[Bushman]

Hey Toc,

I will look to buy more around say 20c-22c,

I too will wait to see what the brokers do, as I said this is a risk, but I doubt a big one as from what I understand it the shares were placed to people close to the company who I would assume know the value of Mt Gibson project and hence aren't looking to Stag a short term profit

As I said, once 100Mt's is firmed up I expect 40c-50c because of the fact that we know the company will sell the project to the Chinese

Cheers

Just a quick question - is the Chinese (Hong Kong) investor you quote 'Sincom' or 'Sinom'? Doing some research on PSP and I have Sinom on their share registry owning 3% of the issued shares. PSP has some prospective ground in the Mt Gibson vicinity. Wondering if it is a similar type of play to the one you describe in this thread. I found an internet article stating that Sinom bought the Mt Gibson Ext Hill magnetite project from MGX in 2003.

Could not find a Top 20 for this one. Anyone know the composition of the Top 20 for ACS?

 

[YOUNG_TRADER]

The 12c placement shares will be tradeable from Friday could be a bit of a concern. Just thinking back to WMT 21c placement when they started trading price fell from high 30's to 16.5c before recovering.

Well the 50m broker shares placed at 12c came on today and they don't look to be selling, in fact on such a bad day, the buys have really stacked up on ACS,

Interesting..............

I tried to grab that 22c seller but was too slow,

If we don't see any mass selling next week I think its clear the

1. The Brokers aren't selling

2. They may even be accumulating more, based on the strong buy depth today

 

[kromey]

Well the 50m broker shares placed at 12c came on today and they don't look to be selling, in fact on such a bad day, the buys have really stacked up on ACS,

Interesting..............

I tried to grab that 22c seller but was too slow,

If we don't see any mass selling next week I think its clear the

1. The Brokers aren't selling

2. They may even be accumulating more, based on the strong buy depth today

Hi YT are you sure the placement shares came on last friday i was just reading an announcement that came out today regarding this.

 

[YOUNG_TRADER]

Nope, they were alloted Friday,

Today's ann just confirmed the placement and allotment,

Notice how so far the SP has stayed flat,

Be interesting to watch the SP over the next week,

If there's no clear selling by brokers then I will become more and more bullish in my assumption that there is real long term value here that the placees certainly knew about and thus aren't stagging a quick profit,

Last I checked there was 800k to 1m buying above 20c

Will watch SP closely,

 

[tibby]

Nope, they were alloted Friday,

Today's ann just confirmed the placement and allotment,

Notice how so far the SP has stayed flat,

Be interesting to watch the SP over the next week,

If there's no clear selling by brokers then I will become more and more bullish in my assumption that there is real long term value here that the placees certainly knew about and thus aren't stagging a quick profit,

Last I checked there was 800k to 1m buying above 20c

Will watch SP closely,

Hi YT,

I too am watching this one closely...I see that there are still around 1mil on buying side above 20c but notice it is very thin after 20.5c (700,000 shares of that 1mil is at 20c). Placement held up, didnt get mass selling from the sophisticated buyers that some had eluded too. US markets bounced around last night and finished in the green.....Im watching it closely as I cant see a trend, no upward/downward movement, sellers and buyers there but thin, volume down...and after the stock has run hard over the last month.

What do others think? Predictions on SP surge? ...are we waiting to see some strength in the US markets over the next few weeks before we see some real buying on ACS??
Just interested to see where others sit with ACS. Thoughts anyone??

 

[Busylion]

Just a quick question - is the Chinese (Hong Kong) investor you quote 'Sincom' or 'Sinom'? Doing some research on PSP and I have Sinom on their share registry owning 3% of the issued shares. PSP has some prospective ground in the Mt Gibson vicinity. Wondering if it is a similar type of play to the one you describe in this thread. I found an internet article stating that Sinom bought the Mt Gibson Ext Hill magnetite project from MGX in 2003.

Could not find a Top 20 for this one. Anyone know the composition of the Top 20 for ACS?

Hi Bushman,
it is Sinom. The same Sinom is also a top shareholder (& a director) in RMI.

for the top 20, you could find the latest one (old one) in the 2006 Annual report. I expect ACS will relesae the top 20 after the 50m placement or at the very latest when they release the new A/R.

 

[YOUNG_TRADER]

Well looks like there's some selling today, some real selling,

So I am going to stand back a bit for now and wait before I buy more,

I am still happily holidng my original purchase as there is serious value to be had at Mt Gibson

I too will wait to see what the brokers do, as I said this is a risk, but I doubt a big one as from what I understand it the shares were placed to people close to the company who I would assume know the value of Mt Gibson project and hence aren't looking to Stag a short term profit

As I said, once 100Mt's is firmed up I expect 40c-50c because of the fact that we know the company will sell the project to the Chinese

Cheers

Well the 50m broker shares placed at 12c came on today and they don't look to be selling, in fact on such a bad day, the buys have really stacked up on ACS,

Interesting..............

I tried to grab that 22c seller but was too slow,

If we don't see any mass selling next week I think its clear the

1. The Brokers aren't selling

2. They may even be accumulating more, based on the strong buy depth today

 

[tibby]

Hi YT,

I too am watching this one closely...I see that there are still around 1mil on buying side above 20c but notice it is very thin after 20.5c (700,000 shares of that 1mil is at 20c). Placement held up, didnt get mass selling from the sophisticated buyers that some had eluded too. US markets bounced around last night and finished in the green.....Im watching it closely as I cant see a trend, no upward/downward movement, sellers and buyers there but thin, volume down...and after the stock has run hard over the last month.

What do others think? Predictions on SP surge? ...are we waiting to see some strength in the US markets over the next few weeks before we see some real buying on ACS??
Just interested to see where others sit with ACS. Thoughts anyone??

Well guess I got an answer at 257pm!! .....those 1mil shares above 20c just disapperaed! Selling pressure built all avo and then it went in a few big orders. Well, I guess I it will show now how much people like this company...accumalation time?? Next hour will be interesting.

 

[UPKA]

any thoughts on the sell down today? looks like an individual off loaded about 500k shares, then few panic sellers followed. Could it be the placement? i would rather think its a time to top up at these prices.