MEL - Metgasco Limited

[xolstis]

Rob, small caps are volatile by nature. Blaming MEL's management for the volatility is as useful as blaming the government for the GFC. And MEL's management has not done anything wrong by the rules laid out by ASIC.

While I understand your pain and frustration in losing a chunk of hard earned money, perhaps next time it's best not put down more than you can afford to lose on an exploration company - or use a stop-loss for capital preservation.

 

[outback]

I gotta tell ya Rob, with a strategy of "wait and see" I'm not that surprised your in trouble. You have to remember MEL is an exploration company, if it's ship comes in, it goes from beer to fine wine for you, but I can't see it as a company to risk going from beer to warm water for.

 

[RobVan]

I gotta tell ya Rob, with a strategy of "wait and see" I'm not that surprised your in trouble. You have to remember MEL is an exploration company, if it's ship comes in, it goes from beer to fine wine for you, but I can't see it as a company to risk going from beer to warm water for.

Cheers. That wasn't my stratgey, but atm not left with much option. I can eiter pull out now and permenatly end up losing the money or wait and see if the company is worth any more than $0.7 p/s to recover some of the losses.

 

[CapnBirdseye]

Rob,

Mind me asking what level you bought in at? Was it one parcel, or more? Also, what prompted you to buy MEL in such large quantities? Speculation, advice, fundamentals.. .

Cheers.

 

[RobVan]

Rob,

Mind me asking what level you bought in at? Was it one parcel, or more? Also, what prompted you to buy MEL in such large quantities? Speculation, advice, fundamentals.. .

Cheers.

This is from an earlier post:

"pured money in (in addition to the SPP). I bought at least 30k shares at $0.8 (after its freefall in 1.5 days from $1.03 p/s)". But then was forced to sell at much lower because of the debtors recall of the loan (shares dropped too low too fast). Bought again at around )$0.70 and then it dropped again and was forced to sell, it went as low as $0.58.

It really is an unstable investement. I mean even for a low cap, and I've invested in a few.

If it owns proven gas in large quantities, it should't be valued so low.

The reason I've invested in MEL is becuase I was also into Sydney Gas before its sell-off and a friend who knew a fair bit about the natural gas/LNG industry recommended MEL.

 

[skyQuake]

This is from an earlier post:

"pured money in (in addition to the SPP). I bought at least 30k shares at $0.8 (after its freefall in 1.5 days from $1.03 p/s)". But then was forced to sell at much lower because of the debtors recall of the loan (shares dropped too low too fast). Bought again at around )$0.70 and then it dropped again and was forced to sell, it went as low as $0.58.

It really is an unstable investement. I mean even for a low cap, and I've invested in a few.

If it owns proven gas in large quantities, it should't be valued so low.

The reason I've invested in MEL is becuase I was also into Sydney Gas before its sell-off and a friend who knew a fair bit about the natural gas/LNG industry recommended MEL.

People inside the industry may knew well the fundamentals but in the short term that hardly applies.

 

[xolstis]

Indeed, the prospect for MEL from the fundamentals based on the gas reserves look pretty good, but they are still years from converting this to any actual cash flow.

Short term fluctuations are caused by traders and speculators and the smaller the market cap of a counter the more affect traders can have on its movements.

In fact, if you would forgive me for saying this, the effect of what you did by buying shares using a margin loan and then being forced to sell when there was a margin call would have contributed to fluctuations in MEL's sp (albeit by a very small amount).

It is not the job of MEL's management to try to even this out, or prop up the price of the share in the short-term. If you aim to invest, be sure you can afford to stay for the long-term even through major fluctuations in share price (i.e. minimise leverage), if you are here to trade, then make sure you have a good strategy to limit your downside and avoid getting burnt too bad.

my

 

[Wysiwyg]

This is from an earlier post:

"pured money in (in addition to the SPP). I bought at least 30k shares at $0.8 (after its freefall in 1.5 days from $1.03 p/s)". But then was forced to sell at much lower because of the debtors recall of the loan (shares dropped too low too fast). Bought again at around )$0.70 and then it dropped again and was forced to sell, it went as low as $0.58.

I got rolled several times like this myself on various stocks. Give them a sniff of your dollars ( or o.p.m. ) and they will take the lot. Large bankrolls and loose lips sink ships.

 

[condog]

This is from an earlier post:

"pured money in (in addition to the SPP). I bought at least 30k shares at $0.8 (after its freefall in 1.5 days from $1.03 p/s)". But then was forced to sell at much lower because of the debtors recall of the loan (shares dropped too low too fast). Bought again at around )$0.70 and then it dropped again and was forced to sell, it went as low as $0.58.

It really is an unstable investement. I mean even for a low cap, and I've invested in a few.

I feel for you Rob its never nice to lose that much, but it can and does happen and its no bad reflection on this company over any other...... small caps and particularly exploratory small caps are extremely volatile and the investors are generally very fickle, flighty and cause huge swings.....

For some of us this is the exact reason we are attracted to small caps....

LEarn form it....that $9,ooo lesson will serve you well in the future...

 

[RobVan]

Haven't heard much lately from MEL. Btw I offloaded most my stocks.

Anyone make any profits lately? Seems to be hovering around $0.7.

PS: Capnbirdseye I sent you a private message. Cheers

 

[condog]

Haven't heard much lately from MEL. Btw I offloaded most my stocks.

Anyone make any profits lately? Seems to be hovering around $0.7.

PS: Capnbirdseye I sent you a private message. Cheers

Yeh I got out as well , a lack of faith in the delayed announcment of promised upgrade....i noticed a few days ago they mad another release suggesting upgrade.....wonder if timing is important or whether they are having trouble certifying it to whatever specification of ugrade they intend to release...

 

[Dangerous]

Recall my rant on Australian Small-cap Investigator?... There sister publication today spoke of the HGO placement

The raising was through Evans and Partners who conservatively valued the company at $0.79 a share last month. I heard on the grapevine that the $25 million placement had been filled within half an hour. This level of interest is a good sign.

What a joke! On the grapevine... hmph!

 

[freddysa]

I bought some shares today. Hope for the best!

CORELLA P18 PROGRESS REPORT: Work is currently underway to remediate the blockage to recommence drilling.

 

[RobVan]

I bought some shares today. Hope for the best!

CORELLA P18 PROGRESS REPORT: Work is currently underway to remediate the blockage to recommence drilling.

A friend of mine did the same yesterday. He bought 2 x 50k parcels at $0.645. He thinks MEL has something big coming up. Also they announced the appointment of a new director today.

I am contemplating getting back in real quick.

 

[naughtynickers]

A friend of mine did the same yesterday. He bought 2 x 50k parcels at $0.645. He thinks MEL has something big coming up. Also they announced the appointment of a new director today.

I am contemplating getting back in real quick.

Mel seems to have good volumes above 66 cents dies off a bit below. If it can get back up there soon could be worth sticking around.

I have a $20K holding at around these levels but if we breach below 60 cents again I will sell out and get back in when some postive news comes in first, I wrote in the ESG thread this sector has had a lot of heat over the last 12 months I wouldn't be suprised to see this dip back to 45 cents levels it traded at for pretty much half of the last year.

RobVan when the worse thing to do is invest when a friend THINKS something will happen, if they have some postive insight then worth a punt but sounds like nothing more than a hunch hope he is right though I have been sitting on these farkers for almost 2 years and still when I think I could have sold out for around 80% gain after a few months... oh well can't go on ifs! Anyway my patience is starting to wear thing though

 

[Buckfont]

nickers, with all co`s that have new technology and have the huge upside to be be the answers to our prayers hang in there. I own both MEL, ESG, and CTP, amongst others in small holdings. I also bought BHP at $3.04. a long time ago.

Depends how patient you can be

I have a great deal of faith within this CSG technology. It`s a long road. I shall continue to do :- hang in there

 

[RobVan]

He thinks that MEL is quite undervalued considering its current reserves and potential. He had the company looked at by a pro adviser.

I Bought back in today at bargain lol.

 

[RobVan]

Here we go ladies and gentleman. Just read the company announcement. Mel is soaring. A flow of good news to come I suspect.

Cheers

Rob

 

[Sean K]

Oh dear! A mate of mine said this was a rip snorter with news to come. Toot toot. Can't believe this tripe is floating about here, and the instigator is the one complaining about losing $$ in the first place on the company's poor communication. Unbelieveable.

 

[RobVan]

Not kidding mate, have a look for yourself. Anyway, got to be positive and if the company is improving its s/p then time to get my money back hey?

Rob