CSM - Consolidated Minerals

[RichKid]

Looks like the market didn't care much for the positive Nickel announcement which came out mid afternoon, selling continued strongly into the close of trade, high volume, wide ranging down day, not good, I have a feeling there may be more bad news to come, the price chart suggests it- or maybe it was just a lot of weak hands being shaken out due to general bearish sentiment? We'll know in the next two or three days once the trend is confirmed or reversed.

PS. I like this stock fundamentally but as a trader there is no reason for me to go long atm.

 

[Kipp]

Looks like the market didn't care much for the positive Nickel announcement which came out mid afternoon, selling continued strongly into the close of trade, high volume, wide ranging down day, not good

Hard to read too much into it though... it was such a horror day for all!!!

But the fundamentals sound nice (course if Mn slips any more profit downgrades for 07 and 08 are pretty severe)

 

[GreatPig]

are you sure there isn't some long-term value here?

There could well be, but for me this was a trading stock that failed according to my management plan. Success was an upward break out of the triangle, failure a close below $2.60.

It failed, it went.

Cheers,
GP

 

[GreatPig]

<sigh> why doesn't that surprise me...

GP

 

[Kipp]

Richo, GP- do you think that CSM revised bid for Titan is a bit excessive? Or still reasonable at 1:27 ratio?

 

[RichKid]

Richo, GP- do you think that CSM revised bid for Titan is a bit excessive? Or still reasonable at 1:27 ratio?

Hi Kipp,
To be perfectly honest: I have no idea, but judging by their Nickel strategy and long term outlook for Nickel it should prove to be reasonable, but the TTN holders are getting a great deal as CSM sp is very low atm imo and the new offer is a big improvement on the first, the TTN directors have done well, I assume this is all at arms length as CSM owns a big chunk of it. I'll search for some articles on the deal and post it here, please do the same if you find anything.
I haven't read the open briefing yet, that might have clues, announced today. Eitherway I like CSM.

 

[noirua]

CSM have collapsed from the $4.50 level and now is the time, imho, to start looking at them again. Now is the time to consider a contrarian view.

The share buy-back is about halfway through now and stock is being cancelled at a low price level.
CSM announced an increase in their holding of Titan from 26.22% to 28.09%.

This stock still has a strong following in the UK ( CNM or CNM.L ) and is still one of the Aussie success stories on the LSE.AIM market.

 

[noirua]

Still interested in CSM and wondering when a move should be made, as I'm trying to avoid catching the falling knife. They are determined at the moment to continue building their holding in Titan despite many voicing concern. Perhaps an opportunity to buy a little cheaper will raise its friendly head.

 

[mlennox]

After presentation to Sydney mining club yesterday where profits for 07,08 were forecast to powerfully to profitability.

Against the trend of the market today CSM has rallied strongly and on accompanying volume. The stochastic shows it is oversold and may be ready to reverse from the current downtrend. Be alert for break of downtrend and aggressive traders could look to take part position here. Stop loss on break of days low $1.73

Like richkid said just my opinion take it with a grain of salt

 

[RichKid]

After presentation to Sydney mining club yesterday where profits for 07,08 were forecast to powerfully to profitability.

Against the trend of the market today CSM has rallied strongly and on accompanying volume. The stochastic shows it is oversold and may be ready to reverse from the current downtrend. Be alert for break of downtrend and aggressive traders could look to take part position here. Stop loss on break of days low $1.73

Still looks in the doldrums to me, have to question management credibility re profit forecasts after this year's anncts. Look at the number of times it appeared to 'break' the downtrend, only to fall further. No one should construe posts on ASF as constituting financial advice of any kind.

RichKid
moderator

 

[scsl]

has CSM finally fallen enough?? it seems to have found support around the $1.70-$1.80 level... however, i am not yet confident of buying because when it last found support levels on the way down from its peak one year ago, it has continued to break these levels and fall.

is anyone buying CSM atm or contemplating it?

 

[noirua]

has CSM finally fallen enough?? it seems to have found support around the $1.70-$1.80 level... however, i am not yet confident of buying because when it last found support levels on the way down from its peak one year ago, it has continued to break these levels and fall.

is anyone buying CSM atm or contemplating it?

I am still contemplating buying CSM. Uncertainty is the name of the game both on Aussie and UK bulletin Boards at the moment.

Probably worth more than $1.79 but may go lower, all the same, in the short term.

 

[Ken]

CSM's richard carter just bought 100,000 shares.


if the price breaks $2 could this be seen as a buying opportunity

 

[GreatPig]

CSM appears to be forming a slow fan bottom.

I had considered buying it yesterday, and again earlier today, but now it's too close to the $2 mark, which matches the recent peaks and also the main downtrend line. If it drops down around the $1.70 mark again, or breaks above $2, I'll probably consider it again.

Cheers,
GP

 

[Ken]

taking the stock as a long term view and not as a day trade how does it look?


i think if resources will continue to fire and they are set to benefit if management can get there **** together

 

[Freeballinginawetsuit]

CSM seems to have broken through the $2.00 resistance with volume confirmation. Could be the start of something!.

Its been a decent channel trader for 4 months but could be on its way to a return to a decent/fair value SP.

It has plenty of potential, but crap a MD that was replaced months back, so hopefully the new team is turning them around.

 

[porkpie324]

Holding CSM I got through Titan res. Hav'nt done much when compered to other miners, I think they suffered by being to optomistic and not living up to expectations also change in CEO did'nt helpporkpie

 

[Freeballinginawetsuit]

The most volume I've seen for months in CSM and above its old resistance, could be gathering a bit of momentum.

Pretty fair value as a Company at the moment, if they get their act together and realize some decent production/cost structure on their assets.

Could get close to their old highs, they've certainly been lagging behind!.

 

[MalteseBull]

I've been hearing that CSM is a possible takeover target on the hotcopper forums.... don't think there is much meat behind those opinions though..

other than that who ever said it was dead and burried is wrong... broke the 2.20 resistantce last week and heading towards 2.50...

worth looking into..

26th october is their AGM for anyone interested

 

[Broadside]

I've been hearing that CSM is a possible takeover target on the hotcopper forums.... don't think there is much meat behind those opinions though..

other than that who ever said it was dead and burried is wrong... broke the 2.20 resistantce last week and heading towards 2.50...

worth looking into..

26th october is their AGM for anyone interested

I actually think there is something to the rumours, the volume and price rise would suggest so. It has been out of favour for a little while and is ripe for the picking.