Australian (ASX) Stock Market Forum

MMB - Magma Metals

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Yes someone is packing up the picnic hamper and setting up camp elsewhere.

Because of the very small amount of shares on issue this could turn very quickly.

The savour is the upcoming drill results that will keep investors in, or holding, or buying more, or at worst selling
 
Stop_the_clock said:
Yes someone is packing up the picnic hamper and setting up camp elsewhere.
Click to expand...

Too many other picnic goers has choosen to setup nearby, hence good enough reason to move. :D
 
It was a heavily ramped stock over the festive season and if it wasn't for todays announcement the stock would have gone south, on open. Pre-open this morning looked very weak, till the announcement.
 
Stop_the_clock said:
Yes someone is packing up the picnic hamper and setting up camp elsewhere.

Because of the very small amount of shares on issue this could turn very quickly.

The savour is the upcoming drill results that will keep investors in, or holding, or buying more, or at worst selling
Click to expand...
This situation could basically happen with any stock, not just MMB. I've chosen not to buy any, but its been exciting to watch from the sidelines along with the banter, friendly and otherwise.
DYOR
 
I reckon a few rampers are going to wake up tomorrow with egg on their faces, especially one (need I not mention the name) but he ran the figures and got a share price of between $6 to $12

A few questions need to be answered here and the ASX is questioning the timing of announcements, and the people who had access to the drill results.

Appears the information leaked and as a result the share price and volume went up significantly in early to mid dec.

Canadian lab results leaked to johnny, mary, sally, and aunty martha b4 they got to the ASX. They probably even got leaked to sally the photocopy girl...lol.

I see the lawyers having a field day on this one!
 
Re: MMB Magma Metals Ltd

There has to be some questions asked here. And no Crazy, this is not downramping. I refer to an earlier perception on 21 Dec:

kennas said:
I think these guys are going to get their ar!ses kicked.

This morning they release an ann in response to the sp movements the past few days and say they have no idea why the stock has moved except for the ann on 18 Dec, and then a couple of hours later release the 2nd drill hole results. :eek:
Click to expand...

Now, they release another ann saying they did everything they could where a trading halt was perhaps the best way to manage the release. While they may have the find of the century, to be confirmed, poor darts really.

On the other hand, I may be completely wrong and it has been day traders driving the stock purely on momentum.

Whatever the case, trade smart, and save your ar!se from being burnt! Hopefully punters who bought at $0.94 have an escape route if things go sour. And for those who have taken the gamble, and have a plan, I hope it goes to $10. Good luck.
 
Yes, when trading/investing a stock like MMB you really do need to have a plan otherwise it's all too easy to lose money on a winning stock like this. Interesting to receive confirmation of mineralisation in DH3 and assay results on DH2... Looking forward to it -- I hold :)
 
was todays ann that bad? i thought it read just like it was expected to read,

so is this oversold? its already bounced from a low of today to be 10% up from todays low,

i dont have any cash left, but am trying to identify bounces from low and i reckon this one is an example,

any feedback on the ann tho? any experts out there who could appraise it?
 
Hey toc_bat, I read the ann and its not pretty. The assays are significantly lower grade than the rock chip samples.

However, there is a pickup opportunity in the making for sure - just get in before the hole 3 announcement. Thats my plan.
 
caliente

ok if hole two is dissapointing then why will you try to get in before hole 3? im new so im asking to just to see what your logic is.

say hole 3 is similar then surely it will drop further, so are you just gambling?

thanks
 
I totally agree with you - I trade momentum and it definitely has a gambling aspect to it.

Looking at the MMB share price, you're right its bounced back pretty significantly, so its not as attractive to buy in before DH3 is released now(risk/reward ratio wise).

My logic behind accumulating before DH3 is that the market overcorrects on the bad news from DH2, discounts it and then looks forward to DH3 (this is from following postings on multiple forums).

I don't claim to be an expert by any means, for me I'll ride whatever momentum there is from the speculation behind whats behind door no. 3, with a tight stop if things get ugly.
 
im no expert either, far from it, im the newbie botcher, but i haaaaaaaaaave noticed quite a few moves like MMBs today, news comes out, not as good as expected, a relative handfull of owners dump the share price down really quickly only to see it rebound to almost the original level, still only game enough to watch tho,
 
Mmb is almost back to its record high .I believe news is not too far away.Should be an interesting day tomorrow.cheers dyor
 
what a joke today... up 42% on no news... what's the bet we will see a good ann this week.. i have been following this one and have been sitting on the fence waiting to buy into a bargain at the low 30c mark.. but with very limited $ seems i have missed my chance due to chronic procrastination

:(
 

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