ERL - Empire Resources

[mhtrieu]

Not to mention the 1 for 2 bonus oppie issue at 1c. Today was the last day for qualification I think, correct me if I am wrong. Could mean there will be a few more shares on the sell side now that the entitlement date has passed.

All in all a very happy camper.

Kevro

Incorrect.

Kevro, if you sold your shares after the ex-entitlement date (3rd May) you would be entitled to the options. This is why ERL share price peaked on the 2nd May (last date to buy shares for the options) and dropped on the 3rd.

 

[Captain_Chaza]

I missed out/hesitated on the Loyalty Bonus on BWN 6 trading days ago.

I'm not taking any chances this time.

My Fast MACD crossed over on Thursday.
I jumped onboard on Friday and am hoping the normal MACD will cross over on Monday/Tuesday for confirmation?

Salute and Gods' Speed.

Ahoy Officer Greggy

I knew we would catch them out Sooner or Later?

Patience is Everything at Sea! Ya know?

 

[kevro]

Incorrect.

Kevro, if you sold your shares after the ex-entitlement date (3rd May) you would be entitled to the options. This is why ERL share price peaked on the 2nd May (last date to buy shares for the options) and dropped on the 3rd.

Need a little help here with my understanding of the terminology used in these entitlement offers. Below is an extract from the letter to shareholders from ERL.

The timetable* for the entitlements issue is as follows:
Lodgement of Prospectus and Appendix 3B 1 May 2007
Notice sent to Shareholders containing information required by
Appendix 3B
2 May 2007
Shares commence trading ex Entitlement basis 3 May 2007
Record Date for determining Entitlements 9 May 2007Prospectus despatch date and Opening Date 14 May 2007
Closing Date of the Offer 12 June 2007
Deferred settlement trading commences 13 June 2007
Issue of Options & despatch of holding statements 19 June 2007



What are the saying on the 3rd May and on the 9th May

I was in on the 2nd May and still hold so I am confident of receiving the options issue.

Thanks in advance
Kevro

 

[petervan]

I am also not sure if I am entitled to options as I bought a few weeks ago and sold at close today.A nice little earner but would be a bonus if I am eligible for options.Have to wait for the postie.

 

[UPKA]

I am also not sure if I am entitled to options as I bought a few weeks ago and sold at close today.

Hope u didn't sell everything, cos I'm sure it'll be another good day for ERL tomorrow because the report came out late today, right before the closing, alot of ppl didn't get a chance to buy it yet.

 

[petervan]

Unfortunately I was at work and missed the close and sold the lot at .32 cents.Not complaining but you're right, see a very strong open.Just hope I'm eligible for options.

 

[ta2693]

Hope u didn't sell everything, cos I'm sure it'll be another good day for ERL tomorrow because the report came out late today, right before the closing, alot of ppl didn't get a chance to buy it yet.

A lot of people did not get a chance to sell it either. I doubt tomorrow's performance will be so good as you predict. I think more likely has a very strong open then sellers will come to play and have a very weak close.

 

[mhtrieu]

A lot of people did not get a chance to sell it either. I doubt tomorrow's performance will be so good as you predict. I think more likely has a very strong open then sellers will come to play and have a very weak close.

My intuition tells me other wise. I had a look at the course of sale. A single person paid a premium (jumped the queue) and brought over half a million PRU shares and was willing to pay 32c for all of it. My guess is a fund/institution is buying into the stock. The company has superb management and a low market cap, it can still run. I would stay away from this stock if you dont already have a position, you can get burnt

16:10:19 0.3200 72,422 23,175.04
16:10:19 0.3200 27,578 8,824.96
16:10:19 0.3200 10,150 3,248.00
16:10:19 0.3200 100,000 32,000.00
16:10:19 0.3200 20,000 6,400.00
16:10:19 0.3200 42,272 13,527.04
16:10:19 0.3200 22,728 7,272.96
16:10:19 0.3200 2,500 800.00
16:10:19 0.3200 50,000 16,000.00
16:10:19 0.3200 10,000 3,200.00
16:10:19 0.3200 14,772 4,727.04
16:10:19 0.3200 5,228 1,672.96
16:10:19 0.3200 17,000 5,440.00
16:10:19 0.3200 27,772 8,887.04
16:10:19 0.3200 10,000 3,200.00
16:10:19 0.3200 12,228 3,912.96
16:10:19 0.3200 15,000 4,800.00
16:10:19 0.3200 10,000 3,200.00
16:10:19 0.3200 7,500 2,400.00
16:10:19 0.3200 5,272 1,687.04
16:10:19 0.3200 50,000 16,000.00 XT

 

[ta2693]

As far as I know, hardly any institutional trading is doing after the announcement. They normally buy and sell before the announcement. So I think the last order is more like from a amateur trader and over excited. I wish you are right, so I can gain
a little bit more from it.
I do not know how to read the gold intersection report. Is the result really exciting? How much is erl worth after the new announcement?

 

[UPKA]

The grade of the gold is certainly high, but not in a large scale, what is important is that the find will provide ERL a positive cash flow for the continuation of its explorations, which is really important for a company this size. And it'll be more intersting to see other drilling results coming out from other mines, especially the uranium project in SA.

 

[alankew]

With the current vogue for spinning off U assets into separate companies could this be a possibilty for ERL.Greggy any chance of asking that nice man at the company next time he takes you out for a beer?!!?!

 

[mobcat]

Well wasnt that the ann we have been waiting for with results like this the ERL management team would be happy and all us share holders are exstatic

They are continuing to drill with more results bound to keep things exciting.
These are consistent high grade results in a number of holes and the deposit is close to the 5m oz Kanowna Belle mine.



8m x22.5Au 19m x9.4Au 8m x11Au 17m x6.8Au 7m x7.8Au 7m x8.9Au
5m x 7.5Au 23m x 10AU 5m x 4.6Au

JORC coming this month on results of Pennys find ................and the SA uranium play will come into the spotlight with all this attention from Pennys find gold strike.

ERL has the the all important cash flow to be a professinal mining team with strong managment and imo some of the best dirt around so i see may 2007 being a defing period in ERL,s history and as for today the pre open looks strong to say the least and there will be a lot of sellers around to fuel the fire today as oppies have just been allocated to ERL holders so holders can sell there holdings and still hold a third in oppies it do,s look like the mix of a winner for day traders and holders alike let the games begin guys very happy to be a part of it from the start .

Good trading all
Mobcat

 

[ta2693]

My intuition tells me other wise. I had a look at the course of sale. A single person paid a premium (jumped the queue) and brought over half a million PRU shares and was willing to pay 32c for all of it. My guess is a fund/institution is buying into the stock. The company has superb management and a low market cap, it can still run. I would stay away from this stock if you dont already have a position, you can get burnt

16:10:19 0.3200 72,422 23,175.04
16:10:19 0.3200 27,578 8,824.96
16:10:19 0.3200 10,150 3,248.00
16:10:19 0.3200 100,000 32,000.00
16:10:19 0.3200 20,000 6,400.00
16:10:19 0.3200 42,272 13,527.04
16:10:19 0.3200 22,728 7,272.96
16:10:19 0.3200 2,500 800.00
16:10:19 0.3200 50,000 16,000.00
16:10:19 0.3200 10,000 3,200.00
16:10:19 0.3200 14,772 4,727.04
16:10:19 0.3200 5,228 1,672.96
16:10:19 0.3200 17,000 5,440.00
16:10:19 0.3200 27,772 8,887.04
16:10:19 0.3200 10,000 3,200.00
16:10:19 0.3200 12,228 3,912.96
16:10:19 0.3200 15,000 4,800.00
16:10:19 0.3200 10,000 3,200.00
16:10:19 0.3200 7,500 2,400.00
16:10:19 0.3200 5,272 1,687.04
16:10:19 0.3200 50,000 16,000.00 XT

You are right. I am wrong. It is investo with deep pocket.
It is a pity I sell half of my holding at 40c.

 

[UPKA]

Looks like a sell down after the initial rush in the morning, now meeting resistance at 40c, I think it'll hover around this mark till the next drill result.

 

[mobcat]

Well wasnt that a great morning i was lucky i thought about selling at open but held stead fast put a sell on at 50cents and held my breath for an hour after i came out of afixication i was very happy with my decision just bought back in at 41cents wow what a ride very happy camper atm

Still a lot of pages of this story to be written the next month is going to be very very interesting now the broader market has been introduced to ERL

Goodluck all
Mobcat

 

[greggy]

With the current vogue for spinning off U assets into separate companies could this be a possibilty for ERL.Greggy any chance of asking that nice man at the company next time he takes you out for a beer?!!?!

I've been lucky enough to sell out for a very reasonable profit on the back of excellent drilling results at Penny's Find. My father's also done well having sold most of his at an ave. of 49c. It goes to show that it sometimes pays to research overlooked stocks. There are so many stocks floating at present that one can still find overlooked and comparatively undervalued stocks. ERL's MD is shareholder driven and the past few days price action has shown that. Over the past few days I've been sick as a dog in bed and have not been able to access the internet. Whilst I'm currently out of the shares, this company still has enormous potential as I largely bought in for the Torrrens Project in SA. For me the Penny's Find Gold Project is icing on the cake. It could end up providing strong cashflow which will help finance the company's other activities. With some of the proceeds I've increased my holding in PXRO to 700,000 options as it has been well and truly overlooked.
Good luck to existing shareholders.
DYOR

 

[UPKA]

I've been lucky enough to sell out for a very reasonable profit on the back of excellent drilling results at Penny's Find. My father's also done well having sold most of his at an ave. of 49c. It goes to show that it sometimes pays to research overlooked stocks. There are so many stocks floating at present that one can still find overlooked and comparatively undervalued stocks. ERL's MD is shareholder driven and the past few days price action has shown that. Over the past few days I've been sick as a dog in bed and have not been able to access the internet. Whilst I'm currently out of the shares, this company still has enormous potential as I largely bought in for the Torrrens Project in SA. For me the Penny's Find Gold Project is icing on the cake. It could end up providing strong cashflow which will help finance the company's other activities. With some of the proceeds I've increased my holding in PXRO to 700,000 options as it has been well and truly overlooked.
Good luck to existing shareholders.
DYOR

Totally agree with u greg, Penny's Find is js a project to boost cash flow and keep investors around, definitely the better days r coming, I sold most of it yesterday, and plan to get back in when things r settled.

 

[miiine]

Are my calculations right in that this company is worth $15M, and thus only has about 43M shares on offer? Share price of only 35c as of friday...seems cheap...forgive me if I sound naive...

 

[mobcat]

Has anyone received there oppies application form yet i would hate to miss out on this one they could be worth anything by the time they list

Happy Days
Mobcat

 

[alankew]

Mobcat my letter of entitlement arrived today and will be posted tomorrow Absolute bargain,still too short