Australian (ASX) Stock Market Forum

BCN - Beacon Minerals

Jump to new
Stop_the_clock said:
Heavy volume again today and no real signs of a retrace.

The reasons being:

* More results due within a week or so

* Buyers awaiting news of the free options issue

* Possibility of uranium

* Resource upgrades possible
Click to expand...

sounds like a whole heap of maybes ....I will watch for three to five day retrace thanks
 
Y.T. wanted a retrace below his sell price of 35 cents to re-enter and Snakey will wait for a few days...thats fair enough as T/A would suggest that but... is that foolish?

Time will tell!
 
Stop_the_clock said:
Y.T. wanted a retrace below his sell price of 35 cents to re-enter and Snakey will wait for a few days...thats fair enough as T/A would suggest that but... is that foolish?

Time will tell!
Click to expand...

No... its called being in control and not trading with emotions. :)
 
YOUNG_TRADER said:
I should remind peeps

Shares on Issue 40m (only 20m quoted) + 20m opies (1:2 rights to come)

So 60m fully dilluted at prices above 20c

60m@40c = $24m so not that tiny once you factor in total issued capital and opies to be issued
Click to expand...

Young Trader. Issued capital is 33,850,000 (not 40 million as you quoted). At 2 for 1 on the oppies add 16,925,000 (not 20 million as you quoted). There are an additional 6,000,000 unlisted oppies. At 40 cents fully diluted that is 56,775,000 shares at 40 cents valuation is $22,710,000 of which about $8,500,000 would be cash in the kitty.

However, in the real world the oppies will not be exercised for some time and the public float is 20,000,000 shares, taking into account the unlisted shares the market cap is $13,540,000 of which about $3,750,000 is recently raised cash. So the market cap is tiny and the upside is loaded with potential (speculatively speaking). Good luck trying to pick a re-entry point.
 
Stop_the_clock said:
Y.T. wanted a retrace below his sell price of 35 cents to re-enter and Snakey will wait for a few days...thats fair enough as T/A would suggest that but... is that foolish?

Time will tell!
Click to expand...

How is that retrace looking boys?

Looks like its a buy and hold stock...when this happens all T/A and F/A rules go out the window
 
Stop_the_clock said:
How is that retrace looking boys?

Looks like its a buy and hold stock...when this happens all T/A and F/A rules go out the window
Click to expand...

Mate as I said having accumulated at 18c I sold at 35c for a near 100% profit,

I moved funds elsewhere and made another 30% profit, now I have moved funds into another play,

See I play it like this,

my $18k in BCN almost doubled to $35k, I take the whole lot and put it into a new play, which has a very good chance of doubling ie $35k - $70k, much better odds than my BCN doubling again, simple

If your accumulating BCN for more gains I wish you well,

Far too risky for me, why? Becaue that ann didn't change the fundamentals of the company, I knew the fundamentals a few weeks back when drilling results came out, all that ann did was with the help of alot of buying change the markets perception to the stock, as I've learnt over the years the mkt is a very moody creature, so clinging on to its positive sentiement was too risky for me.

Regards
 
YOUNG_TRADER said:
Mate as I said having accumulated at 18c I sold at 35c for a near 100% profit,

I moved funds elsewhere and made another 30% profit, now I have moved funds into another play,

See I play it like this,

my $18k in BCN almost doubled to $35k, I take the whole lot and put it into a new play, which has a very good chance of doubling ie $35k - $70k, much better odds than my BCN doubling again, simple

If your accumulating BCN for more gains I wish you well,

Far too risky for me, why? Becaue that ann didn't change the fundamentals of the company, I knew the fundamentals a few weeks back when drilling results came out, all that ann did was with the help of alot of buying change the markets perception to the stock, as I've learnt over the years the mkt is a very moody creature, so clinging on to its positive sentiement was too risky for me.

Regards
Click to expand...
Good for you YT I'm just going to hold for a little while because I can.Cheers.
 
I've spent the last 30 minutes tring to qualify any of these statements and all I can say is that they have a great web site.....

BSBB...

Maybe.

It is still under construction - a bit worrying, for ANY listed company....

(sorry - I have this thing where I judge companies on their web site :) )
 
kennas said:
I've spent the last 30 minutes tring to qualify any of these statements and all I can say is that they have a great web site.....

BSBB...

Maybe.

It is still under construction - a bit worrying, for ANY listed company....

(sorry - I have this thing where I judge companies on their web site :) )
Click to expand...

Are you refering to the Beacon Minerals web-site? It seems pretty comprehensive to me. My sense about BCN is that it is still very early days here BUT their current work program is very tantalizing and with a market cap of $13,500,000 it has enormous upside. They have outlined two very large anomalies (1) copper / gold (2) zinc AND they stress that is within 4% of the strike zone.

There is also reference to uranium in the sampling program and there are unsubstantiated rumors everywhere. I am trying to do a quick study on the BCN lease location and other references to U in the area. Mega Uranium is very active in the area and owns three resources including Ben Lomond which carries grades of almost 6 pounds to the tonne of U (which Mega claim is the richest grade in Australia). My sense is that the speculation in BCN will get a lot more heated.
 
kennas said:
I've spent the last 30 minutes tring to qualify any of these statements and all I can say is that they have a great web site.....

BSBB...

Maybe.

It is still under construction - a bit worrying, for ANY listed company....

(sorry - I have this thing where I judge companies on their web site :) )
Click to expand...

Here is the prospectus, this may help

www.beaconminerals.com/pdfs/BeaconMinerals_prospectus.pdf
 
YOUNG_TRADER said:
Well the mkt didn't give a hoot about the first group of assays,
Click to expand...

The reason was that it was only 3 drill holes and a few rock samplings, next week we will see the results of the other 11 drill holes...I suspect the market wil react very kindly to these.
 
Enjoyed a nice little day trade on that,

Can't believe how hard it ran on possible uranium targets :eek:

Some absolutely huge buy orders going up $600k-$2.4m absolutley crazy!
 
Well its a very happy new year to bcn holders
a very speculative move to 60 + cents this morning
amazing ....no proven resources and this thing goes crazy
 
crazyjimsmith said:
Congratulations to those smart enough to understand what a tight share register can do to a stock price!

:D
Click to expand...

Bull markets have a habit of picking "favorites" and blowing them thru the roof. BCN is one of those picks.
 
BCN - Beacon finds uranium anomalies

Beacon Minerals Ltd (ASX:BCN) has identified several uranium anomalies
within a large calcrete drainage system at its Barlee Project, 200km
north of Southern Cross in Western Australia.

The largest of the identified anomalies, Mondie 1, is over 2000m
x 500m. All anomalies are hosted in an extensive drainage channel over
16km long and up to 2km wide.

Beacon intends to advance the Mondie uranium anomalies through
further exploration and will consider future development options once
the extent of the uranium mineralisation at the Mondie anomalies has
been defined and tested.

Calcrete-hosted uranium deposits generally occur as shallow,
2-6m thick layers hosted in calcrete or playa/salt lake sediments.

Better known examples of calcrete-hosted systems of this type
include Yeelirrie (35Mt @ 1.5kg/t U3O8 ) and Lake Maitland (32Mt @ 0.33
kg/t U3O8).
 
YOUNG_TRADER said:
Enjoyed a nice little day trade on that,

Can't believe how hard it ran on possible uranium targets :eek:

Some absolutely huge buy orders going up $600k-$2.4m absolutley crazy!
Click to expand...

If you had just held you would have nearly doubled your money, twice over!
 
Stop_the_clock said:
If you had just held you would have nearly doubled your money, twice over!
Click to expand...
Aaaah, the perennial question of when to take profits, and if you miss out on a little bit more, you have deemed to have failed. I think this mindset has led many a punter to disaster.

What do you think STC? Is there ever a good time to take profits? Like if you've made 50%, 100%?? What's your trading plan?

Personally, I have 2 plans, one for 'investments' and one for 'trades'. If a trade goes up or down the predetermined %, I bail. If the reason for an investment has not changed and the stock is going up, I'll let it keep going....if it's not going up, that's not part of the plan. Unless I'm going short of course which I haven't any at the moment.

Perhaps YT traded this with a plan in mind.

Not saying you don't have a plan in the least, just wondering what your plan might be for this one?
 
surely the best plan with stocks like BCN, MMB, GSE, and any number of quick positive movers is to go free carried once you are in the 100 - 200% profit range....that way you get your money back....plus a cash profit if you wish and still have a stake in any future longer term gains...

Currently I have a portfolio of 9 interesting stocks all of which are free carried - I must admit for me I haven't reached the free carried sell level on BCN yet - I got on board in the high 30s...

Today's ann was a bonus imo I am waiting for the assay results due soon... that should force another surge and a free carried situation for me..

EB
 
Top