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GLX - Gulf X

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I do not hold these shares but I am thinking about taking a position once they find some support. I have been caught before buying a share that is on the rise only to be left at the top and then sweating while it retraces. Looks like it this some support around .12c Falling prices and falling volume is a positive sign..hopefully
 
Djayness said:
Can anyone comment on the current market cap? It just feels a bit small in comparison to the size of GLX. Maybe im wrong, id like to know why though.
Click to expand...

My thoughts on market cap is that, yes it is low, but remember these guys have got a mine to develop, technology to licence and a processing plant to build. And most importantly - remember that the resource estimate was retracted along with the 30,000 barrels a day. Basically they got ahead of themselves. This should only move once they start getting confirmation of what they think they've got. So when the drilling results start coming in then that's when a re-rating will occur in my opinion.

This phase could be a good accumulation period for the longer term - or I could be completely wrong and it does an INP tomorrow....:

BUT - if that resource and daily production figures prove out - OOOh Mamma!!!
 
Agree with what you said about the gains once they prove their resource (in couple of months), however I think there will also be some large positive movement in the interim, especially when Linc demonstrates their coal to diesel plant, which should be in a few weeks. This demonstration will promote the industry greatly and should flow significantly into GLX's market cap.
 

Cordelia,
I have been stuck in that postion too. This site might help.
http://www.shareselect.com.au/knowledge-bank/Technical-Analysis/Candlesticks-Bull-Flag-Formation/
It may help you decide where you want to put your buy and sell signals.
Good Luck
 
hey thanks for that. I must say though I have pretty much learnt to control my impulsive buy outbursts
 

OK Farout, what is the problem here?, do you know this management team?, there has been some small snippets posted around the place that these guys are not trustworthy, what do you know of their remaining Gulf Oil interests?, it looks like they are bailing out. Not happy at all
 
I'm not sure that I follow you Redback. Are you saying there is a problem because the share-price has settled back down after some very large gains?
There have also been some 'down days' it has had to deal with, have a look at MEE & SXP today. Time will tell, it is your money Redback.
 

It really must be of a concern that the market is fully discounting this SA resource, do you know what their Gulf of Mexico assets were valued at ? looks likes sfa?, SA the same, these people are starting to look look like a bunch of cheap amateur's, time they followed up with some real substantial statements, not the vague ****e so far
 

Redback, do you have anything to support your claims or are you just sh*t stirring? Im all for it if you at least have something to back up your claims; on what basis do you consider the management team to be flawed?
 
Woops, sorry Joe, seen the moderation, but mad as, as now being taken out by probably whole bunches of stale holders sick to death of losing their shirts because of this management team, who promised utopia but so far have delivered sfa, this is my concern, has present m/ment proven to be so incompetant that the sp fell to 6c from 35c?, if so, I suspect more of the same, today confirmed my suspicion that nothing has changed except a different tack as these clowns run out of money for their wages, so far they have achieved absolutely nothing, this amazing team of collective dunces should be hanging their heads in shame, but hey--they don't care
 
Looks like you have finally tasted your first stockmarket loss. No offence intended, but I'm guessing you are about 18-20 years old Redback? It's only a loss on paper if you sell now, and that is the choice you have to make. Just remember though, if a bullish stock has a massive quick rise it generally shoots part way back down before rising again.

If you've got some substance to speak of we are keen to hear it. However, I don't think you should be bagging the company just because you bought at the top of a peak. You were pro-GLX a couple of days ago until the price dropped a few cents.
 
mmm their is ALOT of sell depth on this one, i got decent hopes for these guys but by looks of things we may not see support til around 9-10c..on no fact what so ever.. i just feel this week their is alot of negativity surrounding this week. next week may prove to be back in the ++++.. who knows..
 

I was asking the question about management, and who they are or were, are they worthy of their positions or are they just another bunch of useless wage stealers, my questions remain unanswered
 
redback said:
I was asking the question about management, and who they are or were, are they worthy of their positions or are they just another bunch of useless wage stealers, my questions remain unanswered
Click to expand...

But on what basis are you asking these questions, what has led you to question the management team? If you dont know who they are or were, how can you make assumptions that the management team is flawed.

I just dont see where you are getting your questions from.
 
Interesting banter going

Just started following this share recently..
and it has a lot of positive traits (as well as some negative ones

Does anybody know when the latest JORC will be released?

Xabi
 
Xabi,
I believe we shall see the JORC report early-mid in the June quarter. There has been extensive drilling done already on their coal tenement by the SA Government, GLX now just have to do a little more to satisfy JORC, confirming what has already been found. 750 million tonnes or more is expected. Good support currently being seen at 12c.
 
Thanks farout.

in regards to some critcism in the above thread about the managements inability to deliver on timelines, have you found this to be the case?

Much appreciated.

Xabi.
 
I believe they are doing a swell job, and don't know of any issues Xabi. Redback just likes jumping between threads causing a stir.

The current managing director 'Merrill Gray' ran Syngas Energy which GulfX bought, so she knows what is going on. She's had over 20 years experience with coal/ion-ore industries.

Just like Metex, I wouldn't be surprised if they try to get rid of their other assets (ie Gulf of Mexico), as Merrill has had little to do with this and she just wants to focus on the exciting and profitable Syngas Plant in South Australia.

Closed higher today at 13.5c
 
This talk of the management team makes me laugh, and also indicates how lazy some posters are who offer opinions on stocks they have never researched.

When Middlemas and his crew came in they basically rescued a company that had hit the wall - virtually a shell. The people pulling the levers now, had nothing to do with GLX when it was at 35c - on the promise of GOM riches. The new team announced they were reviewing the GOM leases and were looking for new opportunities. The syngas project has been the first of these.

Recently they announced they were abandoning one GOM lease and I expect they'll sell there way out of the rest. I've followed Middlemas very profitably from Eagle Mining days right through to Indo Mines etc. Respected, cash and connections. He's no longer chairman, but has a strong executive team in place - and I haven't noticed he's sold his bucket loads of shares.

Also, trying to extrapolate trends from graphs reaching back to the old GLX (New Horizon Oil) defies all logic.
 
I agree largely with what you said Woody, comparison shouldn't be made to the old shareprice and the old management team. However I do believe the share-price will be heading towards those old figures once again.

This is the current management, as already stated Middlemas is no longer chairman.

Mr Derek Lenartowicz (Chairman)
Ms Merrill Gray (Executive Director)
Mr Philip Thick (Non Exec. Director)
 
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