Australian (ASX) Stock Market Forum

GDN - Golden State Resources

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floyd,
As posted elsewhere on this thread (I think) GDN (or any other company) Has no obligation to keep us posted on everything, just relevant ASX anns ie when they DO have results.
It would be nice to have a ann with answers to all those questions we all would like to know, bur it aint gunna happen!!
It is a MAJOR pain this stock..lets hope the nurse is on the way with some TLC ( ie long steady recovery of the SP)
 
Agree, no question ...

One point though does the commencement of Drilling or a Refrac. constitute something that would be calssed a relevant ASX announcement?

I am no expert on what does and does not but hey the commenecment of usage of the Work Over Rig would have to be close would'nt it?

Just looking for an opion on that

thx
 
There was a post on the HC site saying that the truck carrying the workover rig had broken down and that testing would start on 21st (US time Friday our time) and a further 7 days for results. An ann would be made on time of commencement ie tomorrow Aus time.
There are lots of 'mischievious' posts on the HC site, bit I pass it on, cos there isnt much input on ASF at the moment.
 
Hello,

I just have a question and hoping someone might be able to help answer it thanks.

When looking at the trades that go through each day and see orders of shares that have been traded, would they be the shares that are sold or the amount being purchased?

So if one buyer wanted 100 000 shares but 3 sellers had 30 000, 30 000, and 40 000 would the trades screen show 100 000 shares or the 30,30,40 trades?

Just i have gone back to the 30th of May and looked at each daily chart with the demand indicator and then worked out when the smart money was entering meaning just bigger amounts of shares being bought then shares sold per buyer/seller.

Ive found there have been most days where the smart money was entering even when the share price was at 50-56 cents, the 8th of June seemed to be a day where the full day the smart money was entering and looking at the trades there were parcels in the 100-200 000 range and many trades in large amounts over 50 000 shares. There were also lots of smaller parcels of shares going through all at the same time when the demand was high and buyers/sellers were dropping which meant each buyer was buying more shares.

Thanks.
 
nt9184.. looks like you're putting alot of effort into this analysis... and would be interested in what any insights ... however on this stock i believe charting may not achieve anything other than to say that sentiment is bad... in early june before the sp started falling below the 50c there was a belief that results would be out imminently... since then the drill rig has been swapped for the workover rig with delays to the results and the options are due to expire... i beleive it's fair to say the sp has stabilised at 36-37c pending option expiry... an upward shift in sp may occur next week although reckon pressure may remain up to the last minute possible for holder to sign and deliver their cheques... then it all hinges on the results announcement - which will shed new info. on any fundamental valuation... and hence chart history will be of little value... just my view...
 
I agree. There has been so much uncertainty surrounding this stock, so manny delays and drill problems hence GDN sueing the supplier of the casing due to casing failure during placement. It goes without saying that sentiment re GDN probably can't get much lower and those who have been following are dumbfounded by the current sp. In saying that i have moved away from trying to analys its chart and rather, relied on the project fundalmentals which i still believe to be very sound. Keep in mind traders don't like uncertainty in a stock and when the news or the progress of a project fails to deliver there is an immediate backlash from punters and the sp retreats - its only natural because holders get nervous.

GDN has ann. when they felt the need whether the market like the news or not but they must only report the facts so as not to mislead the market. I think, and it is only my opinion that the directors of GDN must be pulling their hair out over this one and probably thinking that they can't win a trick (with so many problems they have encountered) - i know i would be - yet they soldier on because they know what they can't tell us because its not factual YET

I firmly believe that if and when they finally get their wells measured and confirmed cubic feet reserves and provided they are commercial reserves we will see the sp hit new highs simply due to the uncertainty being dispelled.

I converted my oppies about 10 days ago just before they ann. Maquarie Equities were going to underwrite 1.6 million options. i felt very comfortable with my decision after reading that as i'm sure they've done their homework and can see the upside.

As always DYOR, i'm no financial advisor just another optomistic punter.
 
Hi chance fate, thanks for the reply.

Do you know if the trades that come up during the day are they the shares each seller has sold? So a buyer could make up several of the sellers each time they buy an amount of shares?

I have spent a bit of time looking at the charts since the 30th of may today. Ive posted all my thoughts on the fundamentals but was posted on another forum. dazt49 mentioned the forum on here recently, i didnt post it here since they said i was upramping over there and that wasnt the intention of the post.

The idea of this indicator is to show where people are buying in large amounts of shares when the share price isnt moving. If the red line is below the blue line like in the 2 charts on page 49 it suggests that smart money is entering which just means larger then normal share purchases are happening and if people are buying larger amounts of shares then they are confident of a good price rise as people wont invest large amounts of money into a company that is likely to fall further. Thats the idea behind using this indicator from what ive read and thought is worth sharing. The buyer demand normally increases before a share price will increase which is bit different to most indicators since this one suggests when a market direction could be turning from a downward direction to an upward direction in share price. I think this indicator is only offered by phoenix ai at the moment and thats why thought to share it since does show there are more buyers then sellers currently by about twice as many sellers but with very little price movement.

There is a thread on here started by moses called neilsen smart money which shows examples of something similar except, phoenix ai doesnt show the smart money but provides the buyers/sellers numbers and shares ratio which allows people to work out if smart money has or is entering the stock.

Im confident of good results for gdn just have to hope the market reacts well to any results when they are released to the market.

Also using the indicator when it shows smart money entering which has been happening recently, they aernt traders so i think would hold the shares for a good profit and if they are entering the last couple of weeks they must be confident in the well being commercial but just waiting till the announcement comes out saying it is.

Im only looking at this after i looked at the fundamentals side too while the price is at such low prices. Seeing the chart suggesting smart money is entering it improves confidence in holding the stock more after looking at the fundamentals. The same happened around august september 2006 but the demand reached 8 times more buyers then sellers without moving the share price.

Thanks.
 
nt1984,
yes..

" if one buyer wanted 100 000 shares but 3 sellers had 30 000, 30 000, and 40 000 it would show as 30,30,40 trades".
 
chance,
agree..analysis/charting of GDN is pretty hard (you cant put an entry in under 'uncertainty'!!,) Anns can really mess them up.

IMO Really, analysis/charting is always following what is happening.
Works best when the share is trending and has some momentum. They can still 'hint' at things when a share is going sideways.
Its all dragging on isnt it, You are right Chance, we wont get any respite till after opions expiry so early July ,when was the IPO??..about 10 years ago LOL:D
 
Another factor that could move the SP is the U spinoff.
Entitlements close on 10th July.
The period between option expiry and the 10th will be interesting.
Will ex option holders use there profits (some will make a profit wont they??)
to bolster up there GDN share numbers.
Will there be a rush of new GDN investors jumping in to pick up the entitlements??
If we can believe GDN (and who would'nt!!) drilling at Daneros commenced on 17th June with results due WITHIN 3 weeks, which puts it around the same time or before entitlement cut off.
If the results of the U drilling are favorable and released before entitlement cut off ,surely the SP of GDN will take off.. if only in the short term. Holders are entitled to 1 in 4 shares for the new float at 35c/share. With results due BEFORE listing. If the u drilling results are good, its a pretty tempting offer.
Prospectus for U thing to be submitted to ASIC in last week of July.
Listing date???
Who know what the SP of the U thing will be on float!!
(And remember, we still have the results of Para 1 testing to come in the meantime)
I am getting pumped boys.
All IMHO of course.
(And yes I know this is my 3rd post this am, but I couldnt sleep so got up at 6am)
 
DAZT49 said:
Another factor that could move the SP is the U spinoff.
Entitlements close on 10th July.
The period between option expiry and the 10th will be interesting.
Will ex option holders use there profits (some will make a profit wont they??)
to bolster up there GDN share numbers.
Will there be a rush of new GDN investors jumping in to pick up the entitlements??
If we can believe GDN (and who would'nt!!) drilling at Daneros commenced on 17th June with results due WITHIN 3 weeks, which puts it around the same time or before entitlement cut off.
If the results of the U drilling are favorable and released before entitlement cut off ,surely the SP of GDN will take off.. if only in the short term. Holders are entitled to 1 in 4 shares for the new float at 35c/share. With results due BEFORE listing. If the u drilling results are good, its a pretty tempting offer.
Prospectus for U thing to be submitted to ASIC in last week of July.
Listing date???
Who know what the SP of the U thing will be on float!!
(And remember, we still have the results of Para 1 testing to come in the meantime)
I am getting pumped boys.
All IMHO of course.
(And yes I know this is my 3rd post this am, but I couldnt sleep so got up at 6am)
Click to expand...

If the current SP includes the value of the U assets, why would the GDN SP not drop when the U assets removed and are spun off?
-- Great strategy to sell the U assets of company back to the shareholders!!!
 
agree doggy,
I did say 'in the short term' maybe just a spike up till entitlement.
If it costs (guesswork) 50c for GDN + 35c (entitlement)= 85c.
If the new U (with good results) floats at $1.50 thats a 56% profit.
Not bad for a few weeks investment.
 
...results due hopefully within a week from next monday... it should be a good battle between bulls and bears next week...
 
Ha ha...Shumey's famous all over the world... if the U is as good as his promotional capability.. could be attracting wealthy investors from africa... i know of at least one wealthy person on that continent... he runs Zimbabwe;).... it's going to be worth the hold even if the gas doesn't come good...!!:) ... don't know about you guys but as the results are getting closer seems time is definitely slowing down...
 
The time is going nearly as slow as when they were retrieving the piping.from the casing ...1ft /day !!
It will be nice to get good gas flows for a handsome income , some oil to pay the bills and some U for beer and chips.
I am hoping the results of the fraccing will be in by Friday, but I reckon it will be Tues Wed next week
 
Idreambig,
Yeah been in from the start (IPO + options)
IMO well is commercial. results due from fraccing end of this week, results end of next week for Uranium spinoff.
Uranium entltement placement 10 July
Para 2 to start ?? (application for permits are in)
(GDN have stated that Para 2 will be updip and on the money.)
After frac results I will be topping up my GDN to get a nice round number of u shares.

What a ride so far..

I am holding.
 
..if it's bad news ... it definitely won't be out tomorrow (friday).. not til the options dough is in the bank... if it's good it could be.... but agree it's most likely to be early to mid next week....
 
Doesn't look like any announcement this afternoon. May have to hold out till early next week.

Are we going to see the Friday afternoon trading rally that accompanies GDN today?
 

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