CLA - Celsius Resources

[barney]

Things are looking a lot better for you here @Trav. … hopefully it keeps improving

 

[Trav.]

Yes mate, at this point I say to myself why didn't I average down again, but we all know that is a mugs game. But this is very frustrating end of the market.

 

[barney]

Yes mate, at this point I say to myself why didn't I average down again, but we all know that is a mugs game. But this is very frustrating end of the market.

Frustrating at times indeed. I still average down but only under certain circumstances .... The Kenny Rodgers Indicator must be employed when required however

 

[Trav.]

The Kenny Rodgers Indicator

haha yes the old KRI, i'm sure you could make a few bucks on that one if you could code it up for the AmiBroker users !

I think that I have to debug my KRI code a bit more as the signals are a little confusing.

In all seriousness once I get out of a couple of these trades (or cut and run) I think that I will have to implement a more robust risk control strategy as holding onto these stocks and waiting / wishing that they will recover is not the best strategy for me.

Trav

 

[Trav.]

CLA having a good start to the year after the great scoping study crash of 2018.

News due soon - JORC resource upgrade, followed by revised scoping study in a couple of months.

 

[Trav.]

March Tip

CLA quarterly activities report released on the 31/1 states

UPDATED MINERAL RESOURCE
An updated Mineral Resource is scheduled for release in March, 2018. This work is on schedule, with remaining
outstanding assays expected to be received within the next 3-4 weeks, once remaining holes at the DOF
Northwest Anticline target are completed. If considered appropriate by the external resource estimation
consultant, the updated Mineral Resource will include mineralisation from both the West Zone and the new DOF
Northwest Anticline areas.
​

If this updated mineral resource is actually released in March then I would expect (hope) there is a jump in the share price as it is still at yearly lows
22/2 - 0.049 ( 52w Range 0.047 - 0.245)

On the downside is the Cobalt price which is still looking sick and all stocks in this sector are feeling the pain.

 

[Trav.]

Well this will be interesting, due for some action

TRADING HALT REQUEST
CELSIUS RESOURCES LIMITED (ASX: CLA)
The Company requests a trading halt in respect of all its listed securities for up to 2 business days,
effective immediately, pending an announcement regarding an update on the Company’s Opuwo
Cobalt Project and the structure of the Company’s board.
The company expects to make this announcement at any time before market open on Monday 4th
March 2019 after which time it would expect its securities to be trading.
​

 

[Trav.]

Not the news I wanted...no hope in this months tipping comp. And another for the bottom draw.

A positive economic outcome from the Scoping Study is highly dependent on both a robust cobalt price and
successful results from the metallurgical test work. The initial results from the current metallurgical program
have demonstrated that further test work is required to optimise the process for recovery of the value metals
(including cobalt) from the mineralisation.
In light of this and given the current and near term forecast pricing for cobalt, the Company has decided it is the
best interests of shareholders to significantly slow work on the evaluation of the Opuwo Project, until such time
as the cobalt price improves markedly from current levels.​

 

[brty]

Eventually you will learn to NOT put stocks into the bottom drawer, get rid of them when they do the wrong thing, before the inevitable crash in the penny dreadfull!!
Very very few of these type of stocks go on to do anything but go bust, so ride the hype and get out.

My 'bottom drawer' stocks are ones of large relatively stable companies that pay dividends with my longest held stock being up over 500% since bought and the second longest held are basically free carried shares in a dividend payer, up about 150% and just touching new highs.

The first stocks I ever bought, back in the very early '80's both went bust as I 'bottom drawed' them after the price fell, lesson learned.

 

[Trav.]

Eventually you will learn to NOT put stocks into the bottom drawer, get rid of them when they do the wrong thing, before the inevitable crash in the penny dreadfull!!
Very very few of these type of stocks go on to do anything but go bust, so ride the hype and get out.

My 'bottom drawer' stocks are ones of large relatively stable companies that pay dividends with my longest held stock being up over 500% since bought and the second longest held are basically free carried shares in a dividend payer, up about 150% and just touching new highs.

The first stocks I ever bought, back in the very early '80's both went bust as I 'bottom drawed' them after the price fell, lesson learned.

Yes you are 100% correct, just a bit shocked with this announcement. Unfortunately Monday's open will be a blood bath and I will have to take my medicine and cut my losses.

Thanks for your post @brty

 

[Smurf1976]

A hefty fall on Monday, down over 59%.

For info only, thankfully I don't hold.

 

[Trav.]

Thought that I should put up the chart showing the carnage described above.

CLA now trading slightly above $9.6 million cash position. ($12M Market Cap) over reaction ? possibly but better trades out there.

 

[Trav.]

CLA having a go at filling the gap @ 4.5 / 5 cps, plus they got a speeding ticket today.

 

[greggles]

CLA continuing to make gains on increased volume in spite of no news being announced.

The company's response to the ASX Price and Volume Query on 17 May was the following:

The Company is not aware of any other explanation, however the Company notes its 95% interest in the Opuwo Cobalt Project and recent improvement in the prevailing cobalt price, in addition to its strong cash position of approximately $7.9 million as at 31 March, 2019. Also, as the Company has previously announced, it is evaluating additional opportunities since slowing work on the Opuwo Cobalt Project, and will update the market in due course should any of these opportunities be advanced.

Interesting response, but it doesn't seem to really explain the recent price action. Perhaps the share price collapse in late February was too much of an overreaction and buyers are now seeing value?

In any case, CLA is up another 20.69% to 3.5c today.

 

[Trav.]

@greggles couple of possibilities in the quarterly activities report

1. Cobalt price forecast is positive
2. Possible acquisition on the cards
or
3. Take over by another party

 

[greggles]

Thanks @Trav. - all of those reasons taken together are a reasonable explanation for CLA's recent share price increase.

I note that it has stalled today and volume has dropped off, so the gains might be done for now.

 

[Trav.]

CLA continuing to fill gap on no news. Some good volume again today and looking good to keep going.

 

[tech/a]

Looking Toppy as the gap is filled.
Due for a pause.

 

[Trav.]

Well CLA finally closed the gap after a little pullback last week as @tech/a predicted and still no news.

 

[Trav.]

Nice finish to the week for CLA. I keep expecting it to crash back down to 2 cents but onward and upwards for CLA.

1 gap filled and another to go which was generated from the below announcement

A positive economic outcome from the Scoping Study is highly dependent on both a robust cobalt price and successful results from the metallurgical test work. The initial results from the current metallurgical program have demonstrated that further test work is required to optimise the process for recovery of the value metals (including cobalt) from the mineralisation.
In light of this and given the current and near term forecast pricing for cobalt, the Company has decided it is the best interests of shareholders to significantly slow work on the evaluation of the Opuwo Project, until such time
as the cobalt price improves markedly from current levels.​

Gaps highlighted below for interest