Australian (ASX) Stock Market Forum

CQT - Conquest Mining

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drgonzo said:
gooday all,

new to this stock and indeed to trading itself, so I am combing the internet in an effort to learn a bit more about CQT, mining and making money ;)

good luck to everybody

cheers,
Click to expand...

I can`t believe I bought and sold these in the 8 cent range and never looked again.Buying and holding WITHOUT fear in a bullrun IS the only way.Lesson learnt.
 
The results of the ringred resource estimate should be available any day now. They were originally due late January, then in the quarterly report it was announed they were due early February.

As at October 06 we has 313,410 ounces of gold, 18,174,803 silver and 25,923 tonnes of copper.

Lets see if the inferred resource of 800,000 ounces of gold is proven up this week, or if it is exceeded.
 
¡ ¿ ¡ ¿ Any comments on Friday's late pm ann that CQT bought 16mil ELL !?!?

From money.cnn.com "AUSTRALIA - Ellendale Resources NL (ER) agreed to acquire the entire share capital of Northern Resources Australia Pty Ltd (NR), a gold mining company, in exchange for 80 mil new ordinary ER shares valued at 4 mil Australian dollars ($3.059 mil US). The shares were valued based on ER's closing stock price of A$0.05 ($0.038) on November 14, the last full trading day prior to the announcement. The transaction was subject to due diligence completion, regulatory and shareholder approvals. Upon completion of the reverse takeover transaction, the shareholders of NR were to own a 50.14% interest in ER."

If CQT has 10% ELL and ELL has picked up Uranium tenements of Northern Resources (25/8/06 as "non-core assets") in a scrip takeover, is it possible that NR shareholders (includes 10% CQT) now control 50% ELL??? or is it "bloody 'ell". Good or not???
 
drmb said:
¡ ¿ ¡ ¿ Any comments on Friday's late pm ann that CQT bought 16mil ELL !?!?

From money.cnn.com "AUSTRALIA - Ellendale Resources NL (ER) agreed to acquire the entire share capital of Northern Resources Australia Pty Ltd (NR), a gold mining company, in exchange for 80 mil new ordinary ER shares valued at 4 mil Australian dollars ($3.059 mil US). The shares were valued based on ER's closing stock price of A$0.05 ($0.038) on November 14, the last full trading day prior to the announcement. The transaction was subject to due diligence completion, regulatory and shareholder approvals. Upon completion of the reverse takeover transaction, the shareholders of NR were to own a 50.14% interest in ER."

If CQT has 10% ELL and ELL has picked up Uranium tenements of Northern Resources (25/8/06 as "non-core assets") in a scrip takeover, is it possible that NR shareholders (includes 10% CQT) now control 50% ELL??? or is it "bloody 'ell". Good or not???
Click to expand...

Hi drmb

I'm a newby myself, but I understood from the announcements that CQT actually bought a lot more shares under various different company names and they now control 47% of ELL. Have a look under the ASX announcements on 16/2, i.e.:

16/02/2007 Becoming a substantial holder from CQT
16/02/2007 Becoming a substantial holder
16/02/2007 Becoming a substantial holder
16/02/2007 Becoming a substantial holder

Just in case, I bought small holdings in CQT and ELL

Cheers
Taurisk
 
CQT Trading Halt

Maybe should go in the old CQT thread, but excited that CQT has done a Friday night Halt. Hopefully it will be "sensational resource increase declared". Can't bring myself to consider an alternative...
 
All is revealed ... huge resource upgrade.

Now 3 times bigger ... with drill results from the last couple of months not even in the calculations ...

This is BIG ... hang on for a wild ride ...

Cheers ... Dave
 
Brissydave said:
All is revealed ... huge resource upgrade.

Now 3 times bigger ... with drill results from the last couple of months not even in the calculations ...

This is BIG ... hang on for a wild ride ...

Cheers ... Dave
Click to expand...


Yep, it is big, a 257% increase. Huuuuuge.

I assume the trading halt is over and it will soar this morning.

But do your own research I know nothing about anything, particualrly women and shares.
 
Hmm, now it is only up 6.5c.

The theory goes that the market underreacts to news.

In this case you've got to agree.

Although the other theory is a companies resource could be huge, when you confirm it is only 250% of what is first thought that eliminated the potential for a truly massive find. In other words expectations were already built into the stock price.

A bit of both me thinks....
 
Yeah I detected weakness in the first 5 minutes of trading activity, took my profits to make up for some losses last week ...

I hope to be back on the register in the future .... this has been a good stock to me in the past ... and will be again, but a profit is a profit ... LOL

Cheers ... Dave
 
Somewhat baffled that this is trading lower after such good news... were people expecting such an increase in their resource and hence was this was factored into their share price a long time ago???
 
Dink said:
... were people expecting such an increase in their resource and hence was this was factored into their share price a long time ago???
Click to expand...

It seems so, the share price is actually down a cent today. :banghead:

Ridiculous. The market has underreacted tremendously.

I'll continue to hold.
 
I held the shares for about 6 months and sold them a few weeks ago. Noticed an interesting thing - whenever CQT makes an ann about significant resource upgrade the share price goes up for a very short time (maybe 20 mins or so) and then plummets below the initial price. In contrary, the sp usually goes up on no news at all... Still can not understand why it happens this way with CQT. Not complaining though, I've made 100% profit on this one.
Good luck to all holders.
 
Povesa said:
I held the shares for about 6 months and sold them a few weeks ago. Noticed an interesting thing - whenever CQT makes an ann about significant resource upgrade the share price goes up for a very short time (maybe 20 mins or so) and then plummets below the initial price. In contrary, the sp usually goes up on no news at all... Still can not understand why it happens this way with CQT. Not complaining though, I've made 100% profit on this one.
Good luck to all holders.
Click to expand...

It sounds like 80% traders in this stock are insiders, hehe.
 
Something up here ... and I don't just mean the SP

Buying activity yesterday on close and then this morning has been very strong.

Possibility of an announcement on the way, perhaps.

Cheers ... Dave
 
Hmm.. not sure what to do now given the cqt cycle of massive hype and sp rise pre-ann, then stalling and fall in SP post-ann regardless of how good said ann was. To sell on a high in the lead up to an ann or not.. that is the question.. something tells me I'll be stupid and stick with one of the most frustrating roller coasters in the world. In fact they could build a roller coaster and call it CQT but it would probably be too dangerous.. everyone on it would be killed by the violent ups and downs.
 
Sticking with it - still only inferred and indicated, despite the "sensational" 2006 holes. Understandable for sp to dwindle a bit with no results from the 2007 program yet. The last ann was mainly the Krige result that was still based on the 2006 holes - could hardly have been a bad estimate, extropolating (well, interpolating) the already known grouse 2006 results.

If the ann for drilling program for 2007 are comparable to 2006, that will be great. Also, if news is of further extensions or confirmation of other similar looking areas they have flagged for drilling that would be great too.

Some have noted the pre-ann rise followed by post-ann falls pattern and speculated /attributed them to inside knowledge and / or trading. However, drilling result anns must be "fairly" regular, so it seems reasonable for traders to speculate there must be one due soonish - not one 2007 drill result so far and the drilling has been going on...

I am hoping to be pleasantly surprised by the next ann and that it eventually reaches a point where retraces are not so large or so regular.
 
CQT jumping out of the gates somewhat today. up 4.5c.

The question is - does it mean anything?? or is it just market noise...???

Bought a few anyway with the 2007 drilling program underway...
 

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