IMD - Imdex Limited

[sptrawler]

Why so happy?
I see nothing!:dunno:

I'm actually thinking of having a nibble, they seem to be moving on from a drilling support service, to a holistic drilling, sample analysis, model.
I held them years ago and today re visited them, if there is a short sharp down, I'll be in.
Just my opinion, but exploration drilling can only be deferred for so long, known resources get depleted.

 

[notting]

Heads up.
Someone is confident!

advises that it has received commitments for a placement of in the order of 4.2 million shares at A$0.55 per share, representing the shortfall from the recently announced Share Purchase Plan

Why is this notable? Well it's trading at 51.5 cents!
It's not often you see a SSP placement above the market price, especially when it failed in the book build!

 

[sptrawler]

Heads up.
Someone is confident!



Why is this notable? Well it's trading at 51.5 cents!
It's not often you see a SSP placement above the market price, especially when it failed in the book build!

Well they've doubled, still don't seem to be doing anything exceptional, I guess exploration will continue to pick up.
Do you think it is worth a re visit notting?

 

[notting]

Well they've doubled

You've probably answered your own question with that.
If this 200B tariff of Trumps gets activated, we may see a major market correction after the mid terms, so it's time for caution, for the moment.

 

[sptrawler]

You've probably answered your own question with that.
If this 200B tariff of Trumps gets activated, we may see a major market correction after the mid terms, so it's time for caution, for the moment.

I kind of agree but, in W.A a lot of exploratory drilling is going on, metal prices on the up and unknown reserves.
I think I'll throw a bit of money in the tin. lol
Billy's going to get rid of franking credits, so we might as well punt on capital gains.

 

[sptrawler]

You've probably answered your own question with that.
If this 200B tariff of Trumps gets activated, we may see a major market correction after the mid terms, so it's time for caution, for the moment.

Notting, do you still think the correction is the go, because I think things are really hotting up in the W.A resources sector. Which will mean a lot of drilling, I'm really thinking of a dabble, what's your take on them?
Jeez I hope I'm not interfering in your holiday.

 

[greggles]

Imdex starting to look like a potential breakout. Up 10.33% today to $1.335 and closing in on resistance at $1.35.

The catalyst for today's move appears to be the Chairman's Address to Shareholders that was announced today which, as one might expect, was positive and optimistic in tone.

 

[sptrawler]

Hoping good results from drilling.

 

[sptrawler]

https://www.livewiremarkets.com/wires/imdex-what-the-market-missed

 

[sptrawler]

Hoping for a bounce, due to being over sold. Also increased exploration may improve bottom line.
Ever the optimist.

 

[Miner]

Hoping for a bounce, due to being over sold. Also increased exploration may improve bottom line.
Ever the optimist.

Have been observing IMD with a hope for a bounce.
But noticed the following small things happened.

1. Director sold 250000 shares @$1.17 on 7 March https://www.asx.com.au/asxpdf/20190307/pdf/4438sl6y939cv6.pdf ,
2. IFL sold out on 25 Feb, https://www.asx.com.au/asxpdf/20190225/pdf/442yd1vkww78y1.pdf and bought on 1 April (Fool'Day) https://www.asx.com.au/asxpdf/20190401/pdf/443y8f4926bv0c.pdf .
3. The company was seeking for an Engineering Manager's position only to advise candidates today that due to some internal reasons, they have postponed the plan to appoint this leadership role (you could ask why and what was the sudden change - this was not a tradesperson or admin assistant's role). Since 1 April the SP is trickling down south.
4. Do not hold and on the sideline to watch such changes. Euroz presentation company presented a positive case https://www.asx.com.au/asxpdf/20190314/pdf/443ghhm7zcqv11.pdf
5. Purely speculative reasons - is the drilling bringing something market got a sniff right or wrong ?

 

[sptrawler]

Have been observing IMD with a hope for a bounce.
But noticed the following small things happened.

1. Director sold 250000 shares @$1.17 on 7 March https://www.asx.com.au/asxpdf/20190307/pdf/4438sl6y939cv6.pdf ,
2. IFL sold out on 25 Feb, https://www.asx.com.au/asxpdf/20190225/pdf/442yd1vkww78y1.pdf and bought on 1 April (Fool'Day) https://www.asx.com.au/asxpdf/20190401/pdf/443y8f4926bv0c.pdf .
3. The company was seeking for an Engineering Manager's position only to advise candidates today that due to some internal reasons, they have postponed the plan to appoint this leadership role (you could ask why and what was the sudden change - this was not a tradesperson or admin assistant's role). Since 1 April the SP is trickling down south.
4. Do not hold and on the sideline to watch such changes. Euroz presentation company presented a positive case https://www.asx.com.au/asxpdf/20190314/pdf/443ghhm7zcqv11.pdf
5. Purely speculative reasons - is the drilling bringing something market got a sniff right or wrong ?

Yes I don't understand why the share price is sliding, probably because I bought a couple of days ago. But with nickel starting to move and the lithium exploration strong also a fairly robust balance sheet I'm ever hopefull.
The other thing that is interesting is the drilling method, that they are trailing, if successful it improves productivity 30%, which is considerable.
https://www.australianmining.com.au/news/imdex-receives-option-to-purchase-flexidrill/
Page 15 of the presentation you posted says the trails have been successful, so it should become commercial.
But I have been wrong on numerous occasions. lol

 

[Miner]

Yes I don't understand why the share price is sliding, probably because I bought a couple of days ago. But with nickel starting to move and the lithium exploration strong also a fairly robust balance sheet I'm ever hopefull.
The other thing that is interesting is the drilling method, that they are trailing, if successful it improves productivity 30%, which is considerable.
https://www.australianmining.com.au/news/imdex-receives-option-to-purchase-flexidrill/
Page 15 of the presentation you posted says the trails have been successful, so it should become commercial.
But I have been wrong on numerous occasions. lol

I must confess, I am not a holder but looking for opportunity. I have a problem here.
Imdex headquarter is on the same postcode where I live and literally 3 km away. Charity begins at home, so I have never thought highly of the company hence when it was far less than a dollar, still, I could not convince myself of buying it. Now I still have a similar dilemma. So in short, I could be subjective and biased to put money on IMD. But I am whimsical and do not listen to me. The only thing I am consistent of having 33 years married life

 

[rnr]

Just a couple of observations noted on the chart.

 

[Joules MM1]

View attachment 93603
Just a couple of observations noted on the chart.

#2c #ideas #study

my only chatty-concern is that the 13 week money flow confirms the current sell-side
if you take the RSI as a false positive, with the logic that, the recent tiny swing north alleviated the current sell pressure maybe the (dependent the rating) RSI merely reflects the start of the next leg down which would lack the same energy as previously printed, keeping in mind RSI is contextual and divergences are never absolute until price proves it out

we can also see there is no divergence in two accum/distribution signals, so even tho the volume was heavy we can postulate that that volume is capitulation volume clearly on the sell side so even tho someone had to be buying all that volume they maybe extremely longterm players whoa re not concerned about the extra % price may travel in the interim (which could mean 1 or 2 1/4's)
the 13week money flow dipping below zero suggests deep pockets still exiting, so maybe we need to view the RSI and other indicators on a different time scale (weekly/monthly for any tell-tale signs) and the most recent down bar weekly basis is a confirmative/contiuation bar, almost zero tale, there is a gap at 80/81 likely to get filled

this implies that the RSI at -20 is prompting a short-term bid on extremity just as it did the prior (equal low), a traders run versus a an investors cue is still suggested by the construct - that gap is the furffy
plus one final thought, friday did not see a rush to get in on the 'double bottom' which did not create a longtail as it has in the previous swings
in the hourly view there is no significant divergence


data:incrediblecharts.com

 

[Joules MM1]

see the hourly chart - something did change in that the pump and sell-into game appears to be different, so there is a change but that gap suggests the longterm move is not yet at hand

......at least you know where your immediate risk level is

 

[Miner]

see the hourly chart - something did change in that the pump and sell-into game appears to be different, so there is a change but that gap suggests the longterm move is not yet at hand

......at least you know where your immediate risk level is

@Joules MM1
Thanks for your both postings and the chart.
On your first posting with the chart it appears you are reading a bullish trend. But did not understand what you meant by the second posting. Would you mind to explain a bit more?
Cheers

see the hourly chart - something did change in that the pump and sell-into game appears to be different, so there is a change but that gap suggests the longterm move is not yet at hand

......at least you know where your immediate risk level is

 

[sptrawler]

Im still trying to understand charts, but appreciate your positive sentiment.

 

[Joules MM1]

@Joules MM1
Thanks for your both postings and the chart.
On your first posting with the chart it appears you are reading a bullish trend. But did not understand what you meant by the second posting. Would you mind to explain a bit more?
Cheers

on a much larger time frame maybe there's a bullish case, short term too many signals suggest a low is not printed or at least needs a confirmation, the accum/distribution signals are pointing south, both TMF 21day and 13week are pointing south, in the hourly chart the modus has been to bid up price and that strength has allowed pro to sell into the strength .....

i'm saying if the cue to buy is based on a double bottom and a daily divergent rsi then compared to all other data points the risk is elevated, even tho, this could a game for deep pockets to flush out weak longs, which i doubt
..as i said we can discount the interpretation of the rsi if we view it as only relative todate, price still needs to confirm the rsi has value (this is the basic reason not to use the rsi as it filters backwards)

 

[Joules MM1]

in the chart where i do a "count" on the leg that has led to a double bottom (unconfirmed) i have shown that there is a case for that construction to be a valid first leg up, so, for that idea to fall apart price merely has to be 1c below the double bottom and it contextualises that construct as part of the overall overlapping chop south, this at least gives a clean risk level that is as close as one can ask for

so if we were to consider a buy at the open, our risk, based on the previous close, is the best you can ask for without hedging