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GTE looking pretty positive.. should see some drill results shortly.. could be the next sandfire resources.. Decided to get some oppies for bit of exposure with minimal expenditure..
GTE - Great Western Exploration
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GTE - have heard talk they crew on this are related to fmj & Jitto and are looking to back another project into the company also .. Seems to have bottomed from the recent sell off .. Will keep getting the options for this till see some further news come forward .. Who knows if its true but even if its not some good results in Doolgunna would be just as good.. seems very slow for all the companies in this region to get out any drill results. ..
Yesterday: Wide spread, downward candle, closing on the lows with bigger than average volume (greater than 4 times the average of the previous 10 days)
Over night I was thinking, that this could be selling volume and a bearish indicator (due to the fact that it closed on the low). But that depended on what happens today.
Today: no volume whatsoever, only 3 trades at the time of writing (last one was @ 10:58am), all of these trades were at 40cents. Now I am starting to think that the volume of yesterday was actually traders absorbing the floating supply (but why did it close on the low?).
GTE could be on it's way up in the near future however there is a lot of nearby resistance. I'll follow the next few candles closely however there isn't much scope for upside IMO; this is more for my education than anything else.
The SP has tested resistance @ 42cents twice in the last 20 odd days and would need to break that. Furthermore the previous days rising on low volume indicate a lack of selling pressure.
Apologies for crappy chart, i'm only using westpac at the moment. Any other views on this?
I do not own GTE.
Over night I was thinking, that this could be selling volume and a bearish indicator (due to the fact that it closed on the low). But that depended on what happens today.
Today: no volume whatsoever, only 3 trades at the time of writing (last one was @ 10:58am), all of these trades were at 40cents. Now I am starting to think that the volume of yesterday was actually traders absorbing the floating supply (but why did it close on the low?).
GTE could be on it's way up in the near future however there is a lot of nearby resistance. I'll follow the next few candles closely however there isn't much scope for upside IMO; this is more for my education than anything else.
The SP has tested resistance @ 42cents twice in the last 20 odd days and would need to break that. Furthermore the previous days rising on low volume indicate a lack of selling pressure.
Apologies for crappy chart, i'm only using westpac at the moment. Any other views on this?
I do not own GTE.
Attachments
Lot's of effort (volume) on the 16th, with little or no result. Ie closed on the low with no break up. Then the 17th was an inside day on low volume.
I think this will go sideways at best in the near term, with more potential to the downside.
any other thoughts?
I think this will go sideways at best in the near term, with more potential to the downside.
any other thoughts?
This stock has been on the watchlist. Did anyone notice the break up yesterday? Closed on highs volume was a bit more than the average of the previous 10 days. Then today up a fair bit? Is there news expected or anything? Only worry is that it looks like it is going to close in the middle of the candle. Above average volume seen again today.
Chart attached.
Still new to trading and I'm testing out my trades on paper right now. Entered yesterday (on paper) at 42cents with a stop at 0.475 (just below the intraday low of the 18th of April) I'd like to see it clear the candle of the 18th as I believe this will be a short term resistance level.
Chart attached.
Still new to trading and I'm testing out my trades on paper right now. Entered yesterday (on paper) at 42cents with a stop at 0.475 (just below the intraday low of the 18th of April) I'd like to see it clear the candle of the 18th as I believe this will be a short term resistance level.
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Trading halt for change of the board .. first time I have seen that.. I wonder whom they are putting on ..
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Great Western Exploration Limited (“the Company”) is pleased to announce the
appointment of Mr Jitto Arulampalam as Chairman of the Company and Mr Frank Cannavo
as a Non Executive Director with effect immediately.
Expecting some big news over next few weeks.. Some huge project and major financing perhaps ..
appointment of Mr Jitto Arulampalam as Chairman of the Company and Mr Frank Cannavo
as a Non Executive Director with effect immediately.
Expecting some big news over next few weeks.. Some huge project and major financing perhaps ..
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Trading halt .. cap raising .. if this cap raising is to a single person such as Madam Cheung I really have to expect that it is playing out like FMJ and is going to have asset injection ..
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looks to be the fmj storey all over again .. raising to madam cheungs vehicles .. asset injection major financing .. raising done.. asset news shortly I expect..
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June 8, 2011 The West Australian
GREAT WESTERN RAISES $8M FROM CHINESE
Great Western Exploration says it will raise $8 million from three Chinese investors to accelerate its growth prospects and acquire projects offshore.
The company said it had entered into legally binding agreements with three Chinese investors to raise a total of $8 million via the issue of 17.8 million new shares at 45 cents each.
The investors include Hong Kong-based businesswoman Madam Cheung Kwai Lan, who in February took a $2.4 million placement in Melbourne-based potash play Fortis Mining at 40 cents. The stock, which listed in December at an issue price of 20 cents, is now trading around $1.60.
Great Western Exploration recently appointed two Fortis directors to its board, including Jitto Arulampalam as non-executive chairman and Frank Cannavo as non-executive director.
Great Western's managing director Jordan Luckett said the company was pleased to have received such strong support and interest from Chinese investors.
"This funding helps create a very secure financial base and gives the company the strength necessary to not only move forward with current exploration activities, but to explore new opportunities, both locally and abroad," he said.
Until now, the company's focus has been on exploration at its Doolgunna land holding east of Sandfire Resources' DeGrussa copper/gold project near Meekatharra.
The share placements will be subject to shareholder approval at a meeting next month.
Great Western shares were up 1.5 cents, or 3.06 per cent, to 50.5 cents at 12.50pm.
GREAT WESTERN RAISES $8M FROM CHINESE
Great Western Exploration says it will raise $8 million from three Chinese investors to accelerate its growth prospects and acquire projects offshore.
The company said it had entered into legally binding agreements with three Chinese investors to raise a total of $8 million via the issue of 17.8 million new shares at 45 cents each.
The investors include Hong Kong-based businesswoman Madam Cheung Kwai Lan, who in February took a $2.4 million placement in Melbourne-based potash play Fortis Mining at 40 cents. The stock, which listed in December at an issue price of 20 cents, is now trading around $1.60.
Great Western Exploration recently appointed two Fortis directors to its board, including Jitto Arulampalam as non-executive chairman and Frank Cannavo as non-executive director.
Great Western's managing director Jordan Luckett said the company was pleased to have received such strong support and interest from Chinese investors.
"This funding helps create a very secure financial base and gives the company the strength necessary to not only move forward with current exploration activities, but to explore new opportunities, both locally and abroad," he said.
Until now, the company's focus has been on exploration at its Doolgunna land holding east of Sandfire Resources' DeGrussa copper/gold project near Meekatharra.
The share placements will be subject to shareholder approval at a meeting next month.
Great Western shares were up 1.5 cents, or 3.06 per cent, to 50.5 cents at 12.50pm.
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Some great news flow recently.. articles can be viewed below..
http://www.fortismining.com.au/fortis_mining_news.html#afr6
http://www.fortismining.com.au/fortis_mining_news.html#afr6
springhill
Make the drill work for YOU
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MC - $16.5m
Current SP - 16.5c
FPO shares - 98m
Options - 39m
Cash - $2.9m
Highlights from March quarterly
• Spasskaya Copper Project JV Operating Agreement with State Samruk has been signed and exploration diamond drilling programme
• Western Areas NL commits to Stage II of the Forrestania JV
• GTE’s 100%-owned tenements in the Forrestania South and Ravensthorpe North areas have been granted. Airborne magnetic survey in Q3 2012.
• Infill soil sampling is planned for July 2012 in the northwest corner o VMS Project to further detail copper in soil anomalism associated with northeast trending faults that may correlate with controls at Thaduna, Green Dragon and Enigma.
• Traverse-style soil sample associated with linear magnetic anomalies which have been confirmed in outcrop as being previously undiscovered greenstone lithologies.
GTE latest exploration update
● June field visit to several old trenches at the Shaitandinsky Prospect illustrates more high-grade copper potential at Spasskaya (XRF analysis1 to 40% copper)
● XRF analysis1 at Hadzhikongan trenches reveals excellent grades of up to 36% copper (average of 4.3% Cu over 32 metres in Trench 1 and 3.4% Cu over 42m in Trench 2)
● XRF analysis1 at the historic Zhalair mine, north of the Sharyktinsky Prospect, shows anomalous lead-silver-copper associated with a six-kilometre long outcrop of barite mineralisation
● Collection of representative samples from historic trenches and mining berms for multielement geochemical analysis is underway for use in drill planning
Current SP - 16.5c
FPO shares - 98m
Options - 39m
Cash - $2.9m
Highlights from March quarterly
• Spasskaya Copper Project JV Operating Agreement with State Samruk has been signed and exploration diamond drilling programme
• Western Areas NL commits to Stage II of the Forrestania JV
• GTE’s 100%-owned tenements in the Forrestania South and Ravensthorpe North areas have been granted. Airborne magnetic survey in Q3 2012.
• Infill soil sampling is planned for July 2012 in the northwest corner o VMS Project to further detail copper in soil anomalism associated with northeast trending faults that may correlate with controls at Thaduna, Green Dragon and Enigma.
• Traverse-style soil sample associated with linear magnetic anomalies which have been confirmed in outcrop as being previously undiscovered greenstone lithologies.
GTE latest exploration update
● June field visit to several old trenches at the Shaitandinsky Prospect illustrates more high-grade copper potential at Spasskaya (XRF analysis1 to 40% copper)
● XRF analysis1 at Hadzhikongan trenches reveals excellent grades of up to 36% copper (average of 4.3% Cu over 32 metres in Trench 1 and 3.4% Cu over 42m in Trench 2)
● XRF analysis1 at the historic Zhalair mine, north of the Sharyktinsky Prospect, shows anomalous lead-silver-copper associated with a six-kilometre long outcrop of barite mineralisation
● Collection of representative samples from historic trenches and mining berms for multielement geochemical analysis is underway for use in drill planning
springhill
Make the drill work for YOU
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SIGNIFICANT HIGH GRADE COPPER OUTCROPPING CONFIRMED AT SPASSKAYA
● Significant widths of outcropping high grade copper mineralisation at the Shaitandy Prospect that includes:
o 14m @ 6.59% Cu
o 14m @ 6.51% Cu
o 12m @ 4.52% Cu
o 18m @ 4.05% Cu
● The mineralisation occurs within copper oxides at the surface along what the JV is interpreting as a fault.
● At least four individual zones of copper mineralisation have been identified that extend in total 5km of strike distance.
● When combined with the field XRF analysis1 of similar style mineralisation at Hadzikongan, where 32m @ 4.3% Cu and 42m @ 3.4% Cu was previously reported, clearly demonstrates the potential of the Spasskaya project.
GTE up nearly 57% today
● Significant widths of outcropping high grade copper mineralisation at the Shaitandy Prospect that includes:
o 14m @ 6.59% Cu
o 14m @ 6.51% Cu
o 12m @ 4.52% Cu
o 18m @ 4.05% Cu
● The mineralisation occurs within copper oxides at the surface along what the JV is interpreting as a fault.
● At least four individual zones of copper mineralisation have been identified that extend in total 5km of strike distance.
● When combined with the field XRF analysis1 of similar style mineralisation at Hadzikongan, where 32m @ 4.3% Cu and 42m @ 3.4% Cu was previously reported, clearly demonstrates the potential of the Spasskaya project.
GTE up nearly 57% today
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greggles
I'll be back!
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A bit of movement from GTE today, up 42% to 2.8c at the moment after news that RC drilling at Yandal West Gold Project has confirmed a large-scale gold system.
GTE has been in the dog house for a number of years now after reaching highs in the mid-20s back in 2010 and again in 2012. Looks like there might be some life in this old dog after all. Best of luck to those holding.
GTE has been in the dog house for a number of years now after reaching highs in the mid-20s back in 2010 and again in 2012. Looks like there might be some life in this old dog after all. Best of luck to those holding.
greggles
I'll be back!
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Subsequent announcements from GTE regarding the Yandal West Gold Project have not met the expectations of the market and share price growth has stalled and started to go backwards.
The most recent drilling results seem to indicate patchy mineralisation and mediocre gold grades. A lot of the previous enthusiasm has evaporated and GTE is currently down to 2c.
The most recent drilling results seem to indicate patchy mineralisation and mediocre gold grades. A lot of the previous enthusiasm has evaporated and GTE is currently down to 2c.
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Nice bullish bar today from announcement.
Nice rise, low volume. Hmmmmm
Nice rise, low volume. Hmmmmm
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$0.185 close today.
3 very bullish candles.
Interesting run.
3 very bullish candles.
Interesting run.
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GTE is consolidating at new highs. This WA gold explorer holds tenements near recently discovered gold resources by RMS and ROX. They and others are hoping the gold fault continues into the ground held by GTE.
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Might be worth a look into again?
Daily
5 years,
Daily
5 years,
