BCN - Beacon Minerals

Sorry if I sound rude, just sometimes trading stocks and taking a 100% profit may seem smart at the time, but when the fruit is ripe, why not just hold and ride it out.

Sure he had a plan, but to take profits when only 3 of the 14 drill hole results had been released defeats the purpose. IMO

The Uranium story was also rumoured at the point that he sold, and has now become fact as of today, which meant more lost money.

I am not picking on you YT, as I know he has done very well, and I am proud of him, just still questioning the reasoning.

I am not going to quote share prices as this will only get me into trouble, but I suspect there is still much more left in this tank.

BCN is a very tight stock at the moment with very little downside IMO.

Stop_the_clock said:

If you had just held you would have nearly doubled your money, twice over!

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Ifs, buts and maybes didn't fatten my bank balance, picking winniers FROM THE START and TAKING PROFITS did,

I can't believe how much its run, sure there'll be those who say but YT look at the fundamentals it has a long way to go, to them I'd reply, I'm just a simple young chap who happened to see these fundamentals along time ago when nobody else did,

I think its gotten way to carried away now, but as always wish everyone luck,

Stop_the_clock said:

Sorry if I sound rude,

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Sorry STC I wasn't insinuating that at all. I think YT has quite a few irons in the fire and prioritises where his $$ go. If he sees a better option, perhaps he just transfers money from one that has ran really hard to another that he thinks is about to??....just thoughts. Each to our own, but a cunning plan for all trading is required...kennas

Stop_the_clock said:

BCN is a very tight stock at the moment with very little downside IMO.

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Except may for all those people like me who accumulated at AND BELOW 20C,

Sure alot would have sold for handsome profits like me, but there's alot who are still holding, they can afford to sell at alot less than all who've gotten on board in the last few days can and still make a profit

All the best

A mate of mine traded on DYL, and took a hansome profit of $50,000, I was very proud of him BUT... Had he just have left it now he would be sitting on over $1 million.

Moral of the story is....sometimes we see a profit as being nice and must lock it in, but sometimes that profit can run like the wind and make us even more that we had imagined in our wildest dreams.

Stop_the_clock said:

A mate of mine traded on DYL, and took a hansome profit of $50,000, I was very proud of him BUT... Had he just have left it now he would be sitting on over $1 million.

Moral of the story is....sometimes we see a profit as being nice and must lock it in, but sometimes that profit can run like the wind and make us even more that we had imagined in a wildest dreams.

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This is getting a little off track, but I think every trader has that story. For me it's AGS. I held quite a bit of it over a year ago and sold and bought back in after I had locked in profits and the stock continued the run. I even sold some more today. However, 15 cents to 2.25.... But it's still paid for a few beers this year! Very happy. It could go to $10, and I'd still be happy with my decisions. Maybe.

cliche time...let's face it guys....no one ever went broke taking profits....try selling some (not all) next time you want to lock in the gains....get your money back and a cash profit for the next one but always leave some stock behind when you exit...there is no stress in watching a free carried holding go up and down...

EB

What a sexy chart:

The lid has really been blown off this stock

Beacon pulls some uranium from hat

January 23, 2007

EXPLORERS which long ignored the potential for uranium on tenements prospective for gold and base metals might soon be stealing a page from the Beacon Minerals playbook.

Beacon's shares soared 70 per cent in trading yesterday after it announced its Barlee gold project in Western Australia had suddenly been deemed prospective for uranium as well.

Beacon made no mention of uranium prospectivity at Barlee in its prospectus before listing in October, consistently describing it as a gold project that could also be prospective for nickel.

But it cost very little for Beacon to discover the yellowcake potential. No soil samples or drill holes were needed. Managing director Lyle Thorne said the company simply re-examined old radiometric surveys conducted by the WA government.

Beacon said the strongest target, the Mondie 1 anomaly, was over 2000 metres by 500 metres in size. It noted the possibility Mondie was a shallow, salt lake uranium deposit like Rio Tinto's giant Kintyre find in WA.

"We're talking about a company that hasn't put a single drill hole down yet and hasn't tested these things," Fat Prophets analyst Gavin Wendt said. "The risks are high and the chances are low … at the moment investors aren't exactly thinking long term."

Mr Thorne said Beacon received the uranium data last week and released it to the market yesterday morning as soon as there was confirmation the tenement had been pegged.

Since listing in October, Beacon experienced several days in which no shares changed hands. But since it announced some promising soil samples from its Greenvale base metals project in Queensland last week, millions of shares have traded each day. With nearly 19 million shares changing hands yesterday, it was the fifth-most traded stock.

Punters on internet message forum HotCopper were certainly excited about the stock. But many were especially impressed that one poster, with the handle "The Apprentice", had last week predicted Beacon would make a uranium announcement yesterday. He also accurately predicted the timing of the the Greenvale release. Shares had risen to 22c from 17c a day ahead of the announcement.

"The Apprentice" claimed "a source" had seen presentations on both announcements before they were released.

When asked about the message board postings yesterday, Mr Thorne said he had never heard of HotCopper. He added the company had made no broker presentations in the past week.

Beacon shares closed 15.5c higher at 55c yesterday, having traded as high as 67c. It is up 150 per cent since last Tuesday.

source:

http://www.smh.com.au/news/business/beacon-pulls-some-uranium-from-hat/2007/01/22/1169330827259.html

Stop_the_clock said:

What a sexy chart:

The lid has really been blown off this stock

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The chart u quote does not have yesterday's trading of over 18,000,000 shares recorded. This is the heaviest days trading since the run started. Market cap is still very small (under 20 million dollars). IMHO we might see a lot more bullishness. BCN has identified one 5 km mineralized cu ag au zone from soil sampling (zone is open) on which they have drilled out a very small 500 meter section. They have also identified a seond parallel zone 3 kms long (and open) from soil sampling that carries zinc values. The release of data from three holes drilled late last year seems to indicate that part of the 5 km system carries potentially economic grades up to 100 meters wide. Good luck to all longs

Beacon starts drilling at Barlee gold targets

Beacon Minerals Ltd (ASX code: BCN) has commenced a four-week 6000-metre RAB-Aircore drilling program at its wholly-owned Barlee project, 200
kilometres north of Southern Cross in Western Australia.

The drilling program will test a number of significant gold intercepts and anomalies in the area, along a 3km strike zone.

Typical day traders's job to fire this stock up. Be aware: the selling may well begin already...

There is no proof of that just yet, so no need to get carried away with a one liner comment.

Profit taking...yes, T/A suggests that today was meant to be profit taking, but with the suprise announcement messing up the plans of profit takers it did leave things all over the place.

Not to mention the 11 drill hole results due out from today onwards....no wonder BCN traded up, down and sideways.

Here is my example:

As you can see the first correction was followed by the next leg up. We are now in the second correction period, ready for the next leg up.

You will most likely find BCN trading higher this arvo.

Stop_the_clock said:

Here is my example:

As you can see the first correction was followed by the next leg up. We are now in the second correction period, ready for the next leg up.

You will most likely find BCN trading higher this arvo.

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Both leg ups were associated with an announcement, so we need good results from the Cockie Prospect RC drilling programme to come in shortly otherwise IMO the correction may be extended and the SP may fall further, which would not be goods news, as I bought back in this morning @0.54 in anticipation that the announcement may have been recieved this week, only to see it close @0.515.

In the previous Greenvale announcement (16/01/07),it stated that these were expected within the next 1 -2 weeks, which means an announcement could potentially be as late as the end of next week.

TradeStats said:

In the previous Greenvale announcement (16/01/07),it stated that these were expected within the next 1 -2 weeks, which means an announcement could potentially be as late as the end of next week.

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You do mean early next week, 2 weeks from the 16th makes the 30th.

My entry point is 38 cents, so I am well in profit with this one, and not trading it at all, just holding.

BCN market update:

Market Cap of just over $10 million, with $3.75million cash in the bank.

· Uranium, Copper, and Gold.

· 2 drilling programs underway

· 11 Drill hole assay results due

· Bonus loyalty options being issued with months.

· A rapid rise is share price

· BCN is certainly being compared to CDU

33.8 million issued shares. 21.5 million listed shares.

6 million options.

Fully diluted 40 mill shares at 50c = $20 mill market cap!

Which is still good value in my opinion.

The thing with this one is do you hold or sell? I sold, however it was greed that made me do it.Imho there is a fair to great poss. of sp going much higher so I am watching closely atm.Cheers.