AXT - Argo Exploration

[Ken]

It all looks pretty simple doesnt it....

A break above 27 cents and we cant bet on day traders becoming involved.

I am no chartist but we are definatley coming to that time where your either backing a break out or a continuation of a down trend. Looks very simple to me...

 

[Ken]

Bit of a break out of downtrend possibly. Not on massive volume, but hit 29 cents.


My charting correct. Could be a dummy break out if it doesnt hold.

Either way... 24-29 cents good gains.

 

[Ken]

Well we have seen AXT come to a standstill at present.

I watch the stock daily, and I am not seeing any big sells under 25 cents.

The opportunity to push this stock below support levels is there. A sell of 40,000 shares to the bidder at 21 cents could see a number of other sellers jump out AXT.

However we havent even seen a small trade at 21 cents.

The stock lacks a lot of liquidity, where has it all gone? After all, they have just raised another $3 million at 30 cents.

There has hardly been any volume at all, and this is telling me one thing.

AXT is being tightly held. Its pretty simple.

January is the beginning of the drilling program, so why would you sell now?

I see no logic of selling at the beggining of a multi million dollar drilling program inbetween 2 major discoveries.


Why would you sell if you have held out this long?

It only takes $100,000 and there is no more stock to buy on market, this is shows the potential of the stock.

If I was a betting man,I would simply wait for a major purchase at 27 cents, because this will be the begining of a spike. There are 120,000 shares on offer there, and this is below the issue price of $3 million worth of stock to investors, so its at a discount.

I might be talking to a wall.

But my research on this one is as good as it was for ELK, AED, IGR.

Can someone find me a stock with more potential than AXT, taking into consideration that they are trying to locate 200,000 million tonnes of copper?

 

[Ken]

Pretty low key at AXT not much news out of late.

They are due for a release on their drilling program soon and an update.

The market depth has finally shown some serious buy orders.

Theres 465k buy orders at 17.5 cents.

Directors have been buying since November.


Does anyone have an opinion on the carapateena area?

MOX has had some activity of late also.

 

[Ken]

AXT up 25%.

On a day where the market drops 100 points.

I have been a keen follower of argo for some time.

Drilling program is on schedule.

Could be worth just keeping tabs on the time line here.

 

[lazyfish]

Cash at bank is over 4 million but market cap only 3.2 million (excluding out of money oppies). Anyone hold this and care to comment on their projects? I took a quick look and didn't see anything interesting...

 

[jonojpsg]

Just a quick heads up for any speccy hunters - Argo just announced a farm in by Xstrata which obviously means that there must be something worth looking for in the ground

Seems like a reasonable punt given low MC (about $9m at close today) and cash and investments of $5m ish. Note that farm in means AXT will not have to spend anything on that tenement in near term which makes cash last a lot longer.

Melbourne, 16 March 2010 - Argo Exploration Ltd (‘Argo’; ASX Code ‘AXT’) announced today that it
has entered into a binding agreement with Xstrata Mount Isa Mines Limited (‘Xstrata Copper”) to
form an exploration Farm-In and Joint Venture fast tracking exploration of its 100%-owned Intercept
Hill tenement in South Australia.
Key highlights are:
• Landmark binding agreement secures the involvement of one of the world’s leading
international mining companies to aggressively advance drill testing of high quality iron
oxide copper-gold (IOCG) targets identified by Argo
• Two stage agreement: Stage One grants Xstrata Copper the opportunity to earn a 51%
interest in Intercept Hill EL4164 by expending A$4 million within 3.5 years; Stage Two
allows Xstrata Copper to earn an additional 24% (to take its interest to 75%) by expending
an additional A$12 million within a further 4 years; expenditures may be brought forward

Disc: I hold as of today

 

[yolker]

Are punters valuing the joint venture with Xstrata at almost $0

AXT has over $2 million cash in the bank and Pantheon oil shares valued by market at $3.8 million.

Thats nearly $6 million and the market cap of AXT currently stands at $6.1 million.

So little value placed is being placed on Olympic Dam style project that is going to be drilled by Xstrata.

Looks to me like a great no risk play in oil and copper/gold.

Am I blind or is this value investing

 

[jonojpsg]

Are punters valuing the joint venture with Xstrata at almost $0

AXT has over $2 million cash in the bank and Pantheon oil shares valued by market at $3.8 million.

Thats nearly $6 million and the market cap of AXT currently stands at $6.1 million.

So little value placed is being placed on Olympic Dam style project that is going to be drilled by Xstrata.

Looks to me like a great no risk play in oil and copper/gold.

Am I blind or is this value investing

So little value until Xstrata actually stick a drill into something worth finding

Here's hoping anyway

 

[bryos]

does anyone know when Xstrata plan to start the drill process?...............i have taken a position at around 6 cents

 

[bryos]

slowly climbing back, xstrata must be on there way over to start drills, clinging onto these, hopeful of an announcement soon

 

[Ken]

my little argo explorer!

picking it self off the floor!

has been a long time since there has been any interest in this one!

but sadly i have been holding since float!!! but luckily still bought this one, and am now sitting on a decent profit!!!

what are we leading into! well xstrata are joint venture partners.

Drilling to commence in 2011.

The market cap is still $9 million, and cash on hand is $3.5 million with investment in Patheon.


I am glad that management have not diluted shareholders buying raising capital. They have diluited the project at intercept hill to XSTRATA who are going to carry the cost of drilling, and have the potential to move the project forward if drilling is a success.

I think there is more upside potential from here leading into drilling, and also if there is positive news!

AXT is one to watch for 2011. We all see what positve drill results when it comes to copper can do..

AXT seems to have reduced there risk by not having to pay for drilling! there previous results must have been enough to get XSTRATA on board which must be a postive sign.!

good luck for AXT holders in 2011... especially top 20 holders. cough cough!!!

 

[Ken]

looks like i am the only one aboard this little bute!

up to 16 cents today..

i have to say i offloaded a few purely on the basis of the gain made. been buying from cents for the past 12 to 18 months.

still looking forward to drilling program.

xstrata is on board...

 

[jms]

looks like i am the only one aboard this little bute!

up to 16 cents today..

i have to say i offloaded a few purely on the basis of the gain made. been buying from cents for the past 12 to 18 months.

still looking forward to drilling program.

xstrata is on board...

Hi Ken,

I'm thinking about pushing some money into AXT. What are your thoughts???

Cheers

JMS

 

[kingkev]

I think buying under 10c could be good value at this point in time. Still some drilling reports to come

 

[kingkev]

Hang in there guys,

Buyer side building.............
Announcement could be any day now
If the ann is half good this should go North

Looking good

I have a buy order in but just cannot get it filled

cheers

 

[hardrunner]

AXT is hitting all time lows, with drilling kicking off in early 2012 this one might just be worth looking at

 

[alexc2005]

AXT is hitting all time lows, with drilling kicking off in early 2012 this one might just be worth looking at

I bought in a few months ago at 8.6 with the intention of it being my first short term trade.

Juuust missed out on an exit of 11 after 2 days and then since then it has **** itself..

However, looks like a takeover target by xstrata once they start drilling. If they find anything significant.

3.4 is getting pretty cheap. But we will wait to see what comes about.

 

[hardrunner]

I am fully loaded on AXT with a large parcel under 4 cents, very happy to see in the new year with this stock

and agree she is a takeover target thanks to Xstrata

 

[alexc2005]

I am fully loaded on AXT with a large parcel under 4 cents, very happy to see in the new year with this stock

and agree she is a takeover target thanks to Xstrata

Yeah, I have been considering averaging down, but been trying not to sink too much in