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DIO was a Fat Prophets recommendation yesterday............ Hope this helps explain.......... Cheers
DIO - Dioro Exploration
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As a new trader can someone please advise what the storey is with high bids on stocks early in the morning prior to open ? Eg DIO 18c or AIM 45c, are the genunine or usually people trying to manipulate the stock, the sells are the same really low.. ? Do these go through immediately as trades or are they withdrawn just prior to the market opening ?
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As I understand it the high price is just so the person gets to the top of the buy queue. They don't actually pay that price just the highest ask price. So even though he is offering .085 he will pay only .065 if that is the highest sell price.
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Following from my previous post DIO now has a high of 12.5 .. wht didnt the trade go through at 18 & 17 as was showing ??
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So the highest ask price will buy the highest sell price or the lowest sell price ? Ie the lowest sell price would go to top of the cue.. ? Thus the people with the really low sells are actually selling ?
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DIO at 13c breaking some resistance now.. I do not get fat profits but if someone does what was their strategy behind listing DIO as a buy..
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So if you see a high price of say .18c you could then put a sell for .17-.18 and they would be stuck with that price? Sounds a bit risky but for the seller being able to offload for a higher price then re enter at a lower price would be iquet profitable??
As for Fats adobee, they've recommended DIO a 3-4 times in the last month on both AUST and Mining reports.
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No because a sell order at .18c would take you further up the sell queue and the highest bidder takes out the lowest seller not the seller with the matching price.
Bling
They do not put a buy order for say .18. They put a buy order AT LIMIT of .18 knowing full well it will not sell for that price. They keep an eye on the market depth to know it is safe to do so.
Before trading each day and after trading each day the market is open on an auction basis. The ASX calculates open and closing price based on an average of buy and sell orders. I believe the extreme prices are left out of the equation to calculate price, but not out of the queue so to speak.
So for eg, if we look at todays depth (as at 8.04am) there are almost 2 million shares for sale at .14. On the buy side even though there are orders up to .16 the total buy orders at .14 upto .16 number less about 1/2 million, nowhere near enough to take out the 2 million sell orders at .14 so opening price will be .135 at the moment (may change before 10.00am).
They do not put a buy order for say .18. They put a buy order AT LIMIT of .18 knowing full well it will not sell for that price. They keep an eye on the market depth to know it is safe to do so.
Before trading each day and after trading each day the market is open on an auction basis. The ASX calculates open and closing price based on an average of buy and sell orders. I believe the extreme prices are left out of the equation to calculate price, but not out of the queue so to speak.
So for eg, if we look at todays depth (as at 8.04am) there are almost 2 million shares for sale at .14. On the buy side even though there are orders up to .16 the total buy orders at .14 upto .16 number less about 1/2 million, nowhere near enough to take out the 2 million sell orders at .14 so opening price will be .135 at the moment (may change before 10.00am).
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Spotty & spaghetti,
Cheers for the heads up.
I didn't think it could work the way I described as it seemed too easy!
Thanks.
Cheers for the heads up.
I didn't think it could work the way I described as it seemed too easy!
Thanks.
No worries except it opened at .14 lol. never checked after 8.00 am though so hoped I have not given misinformation. But you should get the genral drift. You can also check the asx website for detailed calculation method on opening and closing prices.
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Guys - can anyone tell me trading went into Pre NR? I'm not sure what it means but I know its not trading.
From the recent uptrend perhaps good news is coming. But then there has also been a lot of transfers of ownership recently, but I cannot tell if the ownership is being transferred out of the big players or into the big players.
Anyone care to comment?
Anyone care to comment?
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From what i just read there is a trading halt for announcement of resource upgrade at frogs leg gold. I am expecting this will be very positive and I will finally make some money! The question is too hold when its high or to sell and buy in again later as this pretty up and down..
springhill
Make the drill work for YOU
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Im not a happy camper today, put an order in to buy at 14 cents and missed out by a crumby 95,000 before the trading halt was called. Its a fickle game but thats why we love it. Sorry, just had to vent! Good luck to all that did get in
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Don't worry Springhill!
I missed it at 7c and again at 9.5c always just by a whisker. If I hadn't been so bloody tight! ( I did get in at 11c finally!)
I missed it at 7c and again at 9.5c always just by a whisker. If I hadn't been so bloody tight! ( I did get in at 11c finally!)
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well how is this i sold out at .45
it's been very good and i was very happy with the gain of 38% in 5 days
maybe there is more and for the one 's still in all my best and let the ann be good
my reason for selling was the very fast rise
; all dio now can do for me is win the Stock Tipping Competition
all the best
drasic
it's been very good and i was very happy with the gain of 38% in 5 days
maybe there is more and for the one 's still in all my best and let the ann be good
my reason for selling was the very fast rise
; all dio now can do for me is win the Stock Tipping Competition
all the best
drasic
I can tell you now that the announcement for Friday morning will be almost a double in the gold estimation of the frogs leg deposit. This stock will break out.
LaMancha posted this announcment at 9am Canadian time this morning - LMA Owns 51% of Frogs leg... DIO owns 49% of Frogs leg.
Enjoy.
HIGHLIGHTS: · Measured and indicated resource increase by 95% to 723,000 ounces of gold · Drilling continues at Frog's Leg · Updated feasibility study expected for September 2007 · Preliminary stages of portal development to be inaugurated tomorrow
MONTREAL, QUEBEC--(CCNMatthews - July 5, 2007) - All amounts are expressed in CA dollars, unless otherwise indicated.
La Mancha Resources inc. (TSX:LMA) (thereafter "La Mancha" or the "Company") is pleased to announce that the Measured and Indicated ("M&I") resource at its Frog's Leg gold project has increased by more than 95% compared to the resource estimated as of December 31, 2006. As of June 25 2007, Frog's Leg M&I resource is 723,000 ounces of gold (368,700 oz attributable to La Mancha), compared to 369,000 ounces of gold (188,000 oz ounces attributable to La Mancha) as of December 31, 2006.
Michel Cuilhe, Chairman and CEO of La Mancha commented: "Frog's Leg is moving from being a very good project to a great mine. We are very excited with the results of the resource update. We are confident that this sharp increase in resource will have a significant impact on the profitability of the project. While we are beginning to develop the mine, we are continuing to get very encouraging results from our exploration program."
As of June 30th 2007
Tonnes Grade Ounces
-----------------------------------------------------------
Measured 972,000 7.1 222,000
Indicated 2,249,000 6.9 501,000
-----------------------------------------------------------
Total Measured & Indicated 3,221,000 7.0 723,000
-----------------------------------------------------------
Inferred 1,136,000 5.7 209,000
This increase can essentially be attributed to two factors: A) the conversion of inferred resource to the M&I category due to the infill drilling that has taken place since October 2006 and B) the complete re-evaluation and interpretation of the Frog's Leg ore bodies during this same period.
This M&I resource primarily reflects the success of the continued drilling of the Frog's Leg deposits since October, with the conversion of the large Inferred areas of the Fog and Mist ore bodies to the Indicated status. This drilling alone converted an additional 210,000oz in the northern extents of the Frog's Leg Deposit. The drilling program comprised 20 holes designed to give optimum coverage within previously sparsely drilled areas at the northern end of the Fog and Mist ore bodies.
In addition, a complete review of the geological information from all previous drilling has led to a new interpretation and modeling of the resource. The primary outcome of this systematic approach is the extension and widening of the three main ore bodies, "Mist" "Rocket" and "Fog", as shown on the attached long section presented in appendix I. The new modeling approach, in contrast to the previous reported resource, now shows a decrease in the average grade and a large increase in the tonnage. The primary reason is that the modeled lodes reflect what will actually be extracted during mining. These lodes reflect the true geological mineralisation styles occurring at Frog's Leg.
This updated resource calculation incorporates the results of all new holes completed between October 2006 and May 2007 that have not been included in the December 2006 calculation. Reported resource figures have been calculated using an Au cut off grade of 3.5g/t, thus being consistent with the resource estimates reported in the previous resource update of December 2006.
NEXT STEPS
Significant results have been obtained since the beginning of the drilling program in October 2006 and drilling is now scheduled to continue for the remainder of the year. The program for 2007 comprises 20,000m of diamond drilling at a forecasted cost of $4.4 million (of which $2.2 million is attributable to La Mancha). At the end of June, 24 holes had been completed, totaling 10,500m at a cost of $2.4M. The drilling targets for the remainder of the year will be the Rocket orebody and the area between Rocket and Mist. New drill results will be released as they come available.
The Frog's Leg Feasibility Study is now expected to be completed in September, 2007. This slight delay in producing the feasibility study can be explained by the impact the updated resource calculation has on the mine design. While feasibility reviews based on the December 2006 Resource calculation have indicated positive results, it was recognized that the new resource update could significantly improve the already good results. Feasibility work on the December 2006 Resource calculation was halted and is now being completed on the basis of the new resource.
Despite the delay in finalizing the updated feasibility study, the previously completed positive pre-feasibility study and the significant increase in resource observed since then have justified the preliminary stages of portal development, which will be inaugurated tomorrow. The preliminary development work to be completed between now and September will not be impacted by the revised mine design. Such steps are being undertaken to avoid any delays in resuming mining operations. As such, reopening of Frog's Leg is still scheduled for the first half of 2008.
LaMancha posted this announcment at 9am Canadian time this morning - LMA Owns 51% of Frogs leg... DIO owns 49% of Frogs leg.
Enjoy.
HIGHLIGHTS: · Measured and indicated resource increase by 95% to 723,000 ounces of gold · Drilling continues at Frog's Leg · Updated feasibility study expected for September 2007 · Preliminary stages of portal development to be inaugurated tomorrow
MONTREAL, QUEBEC--(CCNMatthews - July 5, 2007) - All amounts are expressed in CA dollars, unless otherwise indicated.
La Mancha Resources inc. (TSX:LMA) (thereafter "La Mancha" or the "Company") is pleased to announce that the Measured and Indicated ("M&I") resource at its Frog's Leg gold project has increased by more than 95% compared to the resource estimated as of December 31, 2006. As of June 25 2007, Frog's Leg M&I resource is 723,000 ounces of gold (368,700 oz attributable to La Mancha), compared to 369,000 ounces of gold (188,000 oz ounces attributable to La Mancha) as of December 31, 2006.
Michel Cuilhe, Chairman and CEO of La Mancha commented: "Frog's Leg is moving from being a very good project to a great mine. We are very excited with the results of the resource update. We are confident that this sharp increase in resource will have a significant impact on the profitability of the project. While we are beginning to develop the mine, we are continuing to get very encouraging results from our exploration program."
As of June 30th 2007
Tonnes Grade Ounces
-----------------------------------------------------------
Measured 972,000 7.1 222,000
Indicated 2,249,000 6.9 501,000
-----------------------------------------------------------
Total Measured & Indicated 3,221,000 7.0 723,000
-----------------------------------------------------------
Inferred 1,136,000 5.7 209,000
This increase can essentially be attributed to two factors: A) the conversion of inferred resource to the M&I category due to the infill drilling that has taken place since October 2006 and B) the complete re-evaluation and interpretation of the Frog's Leg ore bodies during this same period.
This M&I resource primarily reflects the success of the continued drilling of the Frog's Leg deposits since October, with the conversion of the large Inferred areas of the Fog and Mist ore bodies to the Indicated status. This drilling alone converted an additional 210,000oz in the northern extents of the Frog's Leg Deposit. The drilling program comprised 20 holes designed to give optimum coverage within previously sparsely drilled areas at the northern end of the Fog and Mist ore bodies.
In addition, a complete review of the geological information from all previous drilling has led to a new interpretation and modeling of the resource. The primary outcome of this systematic approach is the extension and widening of the three main ore bodies, "Mist" "Rocket" and "Fog", as shown on the attached long section presented in appendix I. The new modeling approach, in contrast to the previous reported resource, now shows a decrease in the average grade and a large increase in the tonnage. The primary reason is that the modeled lodes reflect what will actually be extracted during mining. These lodes reflect the true geological mineralisation styles occurring at Frog's Leg.
This updated resource calculation incorporates the results of all new holes completed between October 2006 and May 2007 that have not been included in the December 2006 calculation. Reported resource figures have been calculated using an Au cut off grade of 3.5g/t, thus being consistent with the resource estimates reported in the previous resource update of December 2006.
NEXT STEPS
Significant results have been obtained since the beginning of the drilling program in October 2006 and drilling is now scheduled to continue for the remainder of the year. The program for 2007 comprises 20,000m of diamond drilling at a forecasted cost of $4.4 million (of which $2.2 million is attributable to La Mancha). At the end of June, 24 holes had been completed, totaling 10,500m at a cost of $2.4M. The drilling targets for the remainder of the year will be the Rocket orebody and the area between Rocket and Mist. New drill results will be released as they come available.
The Frog's Leg Feasibility Study is now expected to be completed in September, 2007. This slight delay in producing the feasibility study can be explained by the impact the updated resource calculation has on the mine design. While feasibility reviews based on the December 2006 Resource calculation have indicated positive results, it was recognized that the new resource update could significantly improve the already good results. Feasibility work on the December 2006 Resource calculation was halted and is now being completed on the basis of the new resource.
Despite the delay in finalizing the updated feasibility study, the previously completed positive pre-feasibility study and the significant increase in resource observed since then have justified the preliminary stages of portal development, which will be inaugurated tomorrow. The preliminary development work to be completed between now and September will not be impacted by the revised mine design. Such steps are being undertaken to avoid any delays in resuming mining operations. As such, reopening of Frog's Leg is still scheduled for the first half of 2008.
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The announcement has now been posted via DIO. This does look very promising for those holding, expected reopen is Monday, I guess its now a matter to wait and see where this goes.
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