Good point. Still, if drilling results are good and if share price reflected, say, a third of the asset value, then its still 15c per share. Ego has approx 30% interest in Lake Mcleod (as you said), 23% in Star Finch and 62.5% in Gingin West.
On a separate matter, thanks lioness for your reply in the outstanding breakouts thread last night. I saw it before you took it down again (or perhaps it was removed because of your projection regarding the sp). Anyway, it was helpful to know that you think that I was reading the chart properly
done a stupid thing today, because it kept fluctuating between .029 - 0.03 i thought i would be smart and sell all at .03 and rebuy at .029. Didn't work that way, ended up selling at 0.029 and rebuying at 0.03
oh well, serves me right for trying to make a quick buck
Shadex,
I am not getting this. How is this price possible??? Please explain.
There are piles of shares in the next queue so why would the price escalate to this??
Nick,
Do you mind giving an update on EGO for potential breakout alerts?? It seems to have had a small retrace from breakout point at 2.4 cents. Is it still a potential runner? It looks to me like it is ready for the another leg up. Please post a chart as this would help all of us.
Thanks in advance.
No problems, a daily chart and an intraday chart are below. I'll have a go at interpreting the chart, but it would be great to get other peoples views on what it may mean too and as to whether my interpretation is sound or whether it is just jumble.
Ok, here goes....strangley, in the intraday chart the sp looks to be dropping to just below the bottom bollinger band, but in the daily chart the sp is hovering around and looking to break through the upper band. So, looking at the daily would look like a break out potential, but looking at the intraday would look like break down potentially (don't know which one is the correct one to rely upon)
Regarding the Bollinger bands, I should mention that I have no idea what specifications to enter in for those bands (I have just used the default ones on the program where the "Average type" is "simple", "period" is "21" and "deviations" is "2"). Please, someone, let me know if there is anything fundamentally wrong about these specifications.
I think, however, the important issue is probably that on the intra day chart there appears to be consolidation around the 28c mark. Also it is probably important that the volumes have been large since it got to around that mark, so people as a whole will be reluctant to sell without some increase or profit. EGO had the largest trades by volume on the asx one day last week.
So, I think it is probably due for a breakout. However, any massive breakout may well be more to do with company announcements when they are made re drilling than to do with the correctness of my not so exceptional chart analysis skills. The fact is, having read Datsuns posts I'm going to hold until these announcements start coming through.
Hope this helps, and any other peoples analysis of these charts would also certainly be helpful
Wow! How's that for service, fantasticly quick.
Many thanks Nick, you are right announcement driven but the good thing is we are overdue for updates and spud dates. A strong hold.
I think that anyone buying these before announcements at any price would be in a fairly good position. As the announcements start, the sp surely has to start increasing markedly (even though the first few announcements won't really tell us a great deal). I would have thought that the only announcement that could drop the share price would be if rain prevents drilling, or if there is some other disaster.
The real test will be what happens to the sp as we get close to the target depth and the meaningful announcements; that is, will people take the profits in fear of a adverse announcements or will they hold on for the "rainmaker"....only time will tell.
Nick,
There is no delay. I have called the company and spoken to Craig and he stated there is no delay. Spudding will occur within the next 2-3 weeks max.
After an announcement that a director sold 6.5million shares today, price has dropped slightly. He exercised options to purchase those shares at 0.015c last week, and from the list of trades it looks like he probably sold them for 0.029c. A nice little profit of $91K...but leaving aside his profit, what do people speculate as to the reasons for the exercise of options and then sale of shares...
Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence
But yes, maybe a margin call...who knows
Its probably a good time to buy up for those that wanted to get into EGO before announcements are made.
DYOR and I don't hold EGO
Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence
But yes, maybe a margin call...who knows
Its probably a good time to buy up for those that wanted to get into EGO before announcements are made.
DYOR and I don't hold EGO
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?