CUL - Cullen Resources
- Thread starter chris1983
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did anyone see that 2m+ sell order dumped at 6.6c?the resistance formed at 6.7c is out, dunno where its gonna build up this time.
Yeah, came out of nowhere didn't it, was thrown into the support too didn't sit there?
If she hits 0.06 I'm off
but that looked a bit oddThe SP currently holding well at the support. NOt much trading going on. I think ppl are just waiting for the news to come out. HNR just release their quarter report, saying they are going to start drilling their NIckel/Gold thing at the Forrestiana JV. Cullen is earning 20%. Check it out guys. But SP seems to stagnant.
ALFguy
Trading gives me a headache
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Relax, it was just one seller. Not like the sell side has stacked up in response, in fact bidders coming in now. It's a Friday remember and the market is down a little too.
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While the order was largish 2M+ it was clearly an inexperienced panic sell, why because yesterday they could have been weeded out at 7c, instead today they dumped at 6.6c
Stock is holding up well, consolidating above 6.4c
Also this is from HNR's Qtrly
Forrestania Project (Hannans Reward 80% & Cullen Resources 20%) (80km east of Hyden, WA) – Gold & Nickel
o RC drilling to test eight nickel targets (located approx. 15km north of Flying
Fox nickel mine) scheduled to commence this Quarter; refer attached map
o North Ironcap clearing approvals obtained enabling RAB drilling to test for
extension of known gold mineralisation; drilling scheduled to commence in
August 2007
o Infill auger soil sampling to be planned over several discrete gold
anomalies
Stock is holding up well, consolidating above 6.4c
Also this is from HNR's Qtrly
Forrestania Project (Hannans Reward 80% & Cullen Resources 20%) (80km east of Hyden, WA) – Gold & Nickel
o RC drilling to test eight nickel targets (located approx. 15km north of Flying
Fox nickel mine) scheduled to commence this Quarter; refer attached map
o North Ironcap clearing approvals obtained enabling RAB drilling to test for
extension of known gold mineralisation; drilling scheduled to commence in
August 2007
o Infill auger soil sampling to be planned over several discrete gold
anomalies
I think that large sell order was more to scare the weak into selling and once those sellers are taken out, the price will only rise. Over the last few days, after the profit taking and accumulating, we have seen big trades go through for seemingly no particular reason than to test the market.
Re: CUL - Cullen Resources + YT
Hi all im new to this forum. Been trading over 10years. It is much easier to trade the markets in profit now we have a resource boom. In previous years it was hard to keep up profits. For myself at least. Now its easy money!!!!!!!!!!!!Definetly compared to previous years.
Im a chartist as have ADHD :-(
Id be a fundametalist in as much energy if i could treat my lack of mental energy to fundamentalize.
Anyway Young trader. Im watching U :-O
I think of you as the part of my brain that isnt working. So i look at what your brain is posting Keep it up and thanks.
out of interest.... Young trader?
Valuation
RHI 40m shares @ $2.75 = $110m, its asset 20% of 135Mt@58.5%Fe = Net 15.795Mt Fe, at $110m = EV of $6.88/ Fe t
So if we give CUL the same $6.88/ Fe t = 30% 68Mt@55.4%Fe = 11.3Mt's Fe = $77.75m = 16c CUL
If u have time how do u get the end result??? of 16cents???
Show me the maths please???
Be appreciated. Especially since i am a invisible being in cyberspace who u cant know in material... Thanking all. Bye.
Hi all im new to this forum. Been trading over 10years. It is much easier to trade the markets in profit now we have a resource boom. In previous years it was hard to keep up profits. For myself at least. Now its easy money!!!!!!!!!!!!Definetly compared to previous years.
Im a chartist as have ADHD :-(
Id be a fundametalist in as much energy if i could treat my lack of mental energy to fundamentalize.
Anyway Young trader. Im watching U :-O
I think of you as the part of my brain that isnt working. So i look at what your brain is posting
Keep it up and thanks.out of interest.... Young trader?
Valuation
RHI 40m shares @ $2.75 = $110m, its asset 20% of 135Mt@58.5%Fe = Net 15.795Mt Fe, at $110m = EV of $6.88/ Fe t
So if we give CUL the same $6.88/ Fe t = 30% 68Mt@55.4%Fe = 11.3Mt's Fe = $77.75m = 16c CUL
If u have time how do u get the end result??? of 16cents???
Show me the maths please???
Be appreciated. Especially since i am a invisible being in cyberspace who u cant know in material... Thanking all. Bye.
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Re: CUL - Cullen Resources + YT
? The maths is there
Valuation
RHI 40m shares @ $2.75 = $110m
its asset 20% of 135Mt@58.5%Fe =
Mkt Cap of $110m with Net interest of 15.795Mt Fe = EV of $6.88/ Fe t (ie $110m/15.795m)
So if we give CUL the same $6.88/ Fe t to work out what COMPARABLE mkt Cap should be
Its asset 30% 68Mt@55.4%Fe = 11.3Mt's Fe
11.3Mt's x $6.88/t = $77.75m
$77.75m with 475m shares on issue = 16c CUL Share Price
Can't explain it any easier than that
Note this is a comparable mkt cap only,
As a minimum though I see CUL's Catho Well worth 10c to it
Valuation
RHI 40m shares @ $2.75 = $110m, its asset 20% of 135Mt@58.5%Fe = Net 15.795Mt Fe, at $110m = EV of $6.88/ Fe t
So if we give CUL the same $6.88/ Fe t = 30% 68Mt@55.4%Fe = 11.3Mt's Fe = $77.75m = 16c CUL
If u have time how do u get the end result??? of 16cents???
Show me the maths please???
Be appreciated. Especially since i am a invisible being in cyberspace who u cant know in material... Thanking all. Bye.
? The maths is there
Valuation
RHI 40m shares @ $2.75 = $110m
its asset 20% of 135Mt@58.5%Fe =
Mkt Cap of $110m with Net interest of 15.795Mt Fe = EV of $6.88/ Fe t (ie $110m/15.795m)
So if we give CUL the same $6.88/ Fe t to work out what COMPARABLE mkt Cap should be
Its asset 30% 68Mt@55.4%Fe = 11.3Mt's Fe
11.3Mt's x $6.88/t = $77.75m
$77.75m with 475m shares on issue = 16c CUL Share Price
Can't explain it any easier than that
Note this is a comparable mkt cap only,
As a minimum though I see CUL's Catho Well worth 10c to it
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I was just reading an articel that mentions CUL/HNR's JV Nickel Project
Pilbara old hand takes helm to steer Yilgarn's iron push
Barry Fitzgerald
July 9, 2007
Hannans Reward
FULL points to Hannans Reward for busting out of the traditional mindset that grips most West Perth-based mineral explorers.
The West Perth mindset is based on the recycling of the same old ground in the same old bars and restaurants, and if it's east of the Eastern Goldfields, they don't want to know about it.
That Hannans has broken the mould from its Ventnor Avenue digs was underscored in its recent deal with Bomber fullback Mal Michael and before that, the strategic alliance it struck with China's Landbridge Group ”” the infrastructure, construction, oil refining and timber milling giant that other Aussie resource groups have long courted without success.
The deal with Michael involves his privately held JLM Resources. It will serve up investment opportunities with traditional landowners in Papua New Guinea on a joint-venture basis with Hannans. The link-up is a result of a Melbourne-based Hannans director having a chat over the fence to an Essendon executive aware of JLM's plan to secure foreign equity support for deals that have the interests of the landowners front and centre. Watch for deals cutting across minerals, oil and gas and agriculture.
The Landbridge relationship was also a result of Hannans' Melbourne connections and was sealed with a two-tranche $5.5 million placement of shares at 55 ¢ each. Landbridge's interest is simple enough. It wants access to raw materials of whatever type.
Hannans can't help out just yet but has its hopes pinned to a stepped-up exploration effort in Western Australia that might just come up with the goods.
Most interest will be in the drilling program to start at the group's Forrestania nickel/gold joint venture (Hannans 80 per cent) with Cullen Resources (20 per cent). Eight nickel targets are soon to be tested by the drill bit in an area 15 kilometres north of Western Area's Flying Fox nickel mine.
And further out there is the multi-commodity potential of the Jigalong project near Newman in the Pilbara. It's grassroots stuff, with a geochemical sampling program hopefully leading to the generation of targets worth drilling once heritage surveys are complete. Having said that, it will be the close-at-hand Forrestania nickel exploration that will be worth watching. Hannans shares closed 3 ¢ weaker on Friday at 53 ¢.
http://www.theage.com.au/news/busin...1183833344243.html?page=fullpage#contentSwap2
Pilbara old hand takes helm to steer Yilgarn's iron push
Barry Fitzgerald
July 9, 2007
Hannans Reward
FULL points to Hannans Reward for busting out of the traditional mindset that grips most West Perth-based mineral explorers.
The West Perth mindset is based on the recycling of the same old ground in the same old bars and restaurants, and if it's east of the Eastern Goldfields, they don't want to know about it.
That Hannans has broken the mould from its Ventnor Avenue digs was underscored in its recent deal with Bomber fullback Mal Michael and before that, the strategic alliance it struck with China's Landbridge Group ”” the infrastructure, construction, oil refining and timber milling giant that other Aussie resource groups have long courted without success.
The deal with Michael involves his privately held JLM Resources. It will serve up investment opportunities with traditional landowners in Papua New Guinea on a joint-venture basis with Hannans. The link-up is a result of a Melbourne-based Hannans director having a chat over the fence to an Essendon executive aware of JLM's plan to secure foreign equity support for deals that have the interests of the landowners front and centre. Watch for deals cutting across minerals, oil and gas and agriculture.
The Landbridge relationship was also a result of Hannans' Melbourne connections and was sealed with a two-tranche $5.5 million placement of shares at 55 ¢ each. Landbridge's interest is simple enough. It wants access to raw materials of whatever type.
Hannans can't help out just yet but has its hopes pinned to a stepped-up exploration effort in Western Australia that might just come up with the goods.
Most interest will be in the drilling program to start at the group's Forrestania nickel/gold joint venture (Hannans 80 per cent) with Cullen Resources (20 per cent). Eight nickel targets are soon to be tested by the drill bit in an area 15 kilometres north of Western Area's Flying Fox nickel mine.
And further out there is the multi-commodity potential of the Jigalong project near Newman in the Pilbara. It's grassroots stuff, with a geochemical sampling program hopefully leading to the generation of targets worth drilling once heritage surveys are complete. Having said that, it will be the close-at-hand Forrestania nickel exploration that will be worth watching. Hannans shares closed 3 ¢ weaker on Friday at 53 ¢.
http://www.theage.com.au/news/busin...1183833344243.html?page=fullpage#contentSwap2
Thanks YT, once again u spot on YML and CUL. ASF and HC forum members are begging for more of ur research and analysis of undervalue stocks.
Keep up the good work and we thank for your contribution.
Thanks Young trader for that. It all helps.
Yes i have my little order of 300000 locked on at 11cents. Not a million. 10cents it will reach but i find when it hits 10cents it usualy some buyers take bites out of 10.5
Anyways i dont see cul dropping below support now. With mentioned news coming and the closeness of production and base metal prices running at new highs. If it does drop it will rebound and shoot the stars.
Thanks all.
Yes i have my little order of 300000 locked on at 11cents. Not a million. 10cents it will reach but i find when it hits 10cents it usualy some buyers take bites out of 10.5
Anyways i dont see cul dropping below support now. With mentioned news coming and the closeness of production and base metal prices running at new highs. If it does drop it will rebound and shoot the stars.
Thanks all.
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Did anyone just see that 2.5m bought in one go clearing 7.3c-7.5c?
Crazy just crazy
Another 500k bought at 7.5c
Could be a number of factors,
- General Pilbara Iron Ore run
- News
- YML profit takers moving into CUL
Who knows, but it 8c is cleared (not saying it will be) but if it is, WATCH OUT!
Crazy just crazy
Another 500k bought at 7.5c
Could be a number of factors,
- General Pilbara Iron Ore run
- News
- YML profit takers moving into CUL
Who knows, but it 8c is cleared (not saying it will be) but if it is, WATCH OUT!
Yeah looks strong doesn't it YT. Im still holding..I think they will continue to run. Some decent buyers coming in and really pushing this one along niceley.
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What is going on with this stock?????? Massive volumes with no Ann's, 20% jump in one day. Must be something on the horizon. Keep it coming I say ......
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And it hits a new high of 8.4c!
It just zoomed past 8c with a nice base forming there now.
It just zoomed past 8c with a nice base forming there now.
doctorj
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Someone is keen, 10 mill just came buy side off screen after a fairly tame day or two. The close will be interesting to watch - see how many take the opportunity to sell into the strength.
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I saw that, crazy absolutely crazy, I didn't think it would clear 8c today,
What have I created?
But like I said all along traders can do as they like, the fundamentals will always eventually shine through
And for CUL there was always very strong fundamentals demanding a re-rating of the stock
