GNL - Great Gold Mines

[Sean K]

May be a trading opp on this the am.

They reackon they have some Haematite. See ann just out. Haven't much detail.

Short thread starter, for trading opp....

 

[Sean K]

Insane! It's going to open up 250% ish on just a couple of drill holes. Nothing really of substance. The market loves fe right now...

 

[Ruprect]

Yeah, if its at all possible, the release was of even less substance than that of IRM!!

Ive been trying to get into GNL oppies for a while now at a very discounted price, havent quite managed it - oh well. A very long expiry, 6 years!

They do have some potential - its the Gutnick group basically, and they are into almost everything. Lots of bits and pieces everywhere.

 

[SevenFX]

Newbe's (IMO)

Doesn't pay to get in at open market auction as recovering init open price may require patience...

Flurry of buyers jumping over each other, only to selldown SP by profit takers...

Not sure of IRM Open and whether heavy selloff occured, but generally better to wait some. IMO

SevenFX

 

[jtb]

Yeah another one of smoking Joes playthings.
Bits and bobs all throughout my old stomping ground- I wouldn't touch it with a barge pole atm.
400 odd million shares and 500 grand in the bank back in July

 

[Sean K]

Yep, agree with above. Looks like the chase up has ended in some damage. Unless it turns around this arvo.

For those that have been following, does it have any real legs?

Cheers.

 

[SevenFX]

Kennas or Anyone Else

Whats your take on the heavy selloff this morning...

Surely the news is not that bad... or did it just gap up to much on open...

EDIT: Would have made a great SHORT... LOL with over 100mil traded so far.

Thanks
SevenFX

 

[Sean K]

Kennas or Anyone Else

Whats your take on the heavy selloff this morning...

Surely the news is not that bad... or did it just gap up to much on open...

EDIT: Would have made a great SHORT... LOL with over 100mil traded so far.

Thanks
SevenFX

I think the line up this am was irrational, following on from the 'rock chip sample' fiasco....

I initially thought a great opp to get in early, but then the punters just started going bananas...

I stay away from that sort of crazed frenzy.....

 

[Bluesky]

Got in today and hoping for a strong finish.
What a gap up though, it was huge.

What a nice day, very windy outside but warm. Good to be indoors. that should be enough. LOL

 

[SevenFX]

hoping for a strong finish.

What a gap up though, it was huge.

The strong finish is not likely, and probably because of the Huge Gap UP, hence profit takers step in and others that bought high on Open looking for a way out cutting their losses. IMO

SevenFX

 

[SevenFX]

This 5mil order for $250,000 has to be a big Insto minipulating the sp, which I'm guessing will dissapear b4 getting filled.

Interesting to watch GNL, as the depth volume slowly changes.

SevenFX

 

[SevenFX]

Here's the position & survey maps of GNL at Mt Bevan right next to IRM & JMS.

Copied from report below.
http://aspect.comsec.com.au/asxdata/20071010/pdf/00768193.pdf

SevenFX

 

[roland]

GNL in pre-open, just waiting to see the news, pre open bidding looking good. News is regarding new assays at Mt Bevan

 

[roland]

Comsec is so slow with the news posts - has opened already and the news is not ready - must be OK, has bounced up already

 

[SevenFX]

New GNL News

Market seems to respond well.
http://www.asx.com.au/asxpdf/20071011/pdf/31526fm4n6ptn8.pdf

SevenFX

 

[powerkoala]

New GNL News

Market seems to respond well.
http://www.asx.com.au/asxpdf/20071011/pdf/31526fm4n6ptn8.pdf

SevenFX

buyers do respond well, but the sellers really really respond very well.
the question is why dumping if buyers are willing to pay 5c?
well, i really dunno how market nowadays.

 

[SevenFX]

buyers do respond well, but the sellers really really respond very well.
the question is why dumping if buyers are willing to pay 5c?
well, i really dunno how market nowadays.

Yes agree, to coin a Phrase "Up the Stair, Down The Firewell, Slide, Window"

Again feel this opened far too high, following perhaps IRM, ELK, others lead, and as profit takers sold down, so did many that bought high on open.

Perhaps many inexperienced got caught at this top and only to will to cut their losses at any sign of a rise.

Guess the ones holding are holding on Fundermentals and Anns, so prob will see it recover as more concrete drilling dates come out mid-late Oct.

 

[roland]

Yes agree, to coin a Phrase "Up the Stair, Down The Firewell, Slide, Window"

Again feel this opened far too high, following perhaps IRM, ELK, others lead, and as profit takers sold down, so did many that bought high on open.

Perhaps many inexperienced got caught at this top and only to will to cut their losses at any sign of a rise.

Guess the ones holding are holding on Fundermentals and Anns, so prob will see it recover as more concrete drilling dates come out mid-late Oct.

And, in the meantime, a great buying opportunity - any idea of the downside risk levels? Jumped on this one a bit quick without a ton of research.

 

[powerkoala]

LOL, if this keep continuing, i believe we will see the starting point of this hype back to 3.2c. so much for the good news.
what a movement in two days.
how many ppl got burn in here?
i only bought very small parcel just to see how it went from the hype.
i guess now i know the answer

 

[roland]

LOL, if this keep continuing, i believe we will see the starting point of this hype back to 3.2c. so much for the good news.
what a movement in two days.
how many ppl got burn in here?
i only bought very small parcel just to see how it went from the hype.
i guess now i know the answer

I only plonked 2 grand into it, the only one of 3 that didn't work today. I did good on WGP and TLM. The profit from those 2 covers my entry into GNL - so free play really