* I originally posted this, but the browser died somewhere between hitting 'Submit Reply' and the post actually appearing here, so here goes.
First, an update on the stocks mentioned previously. For better or worse.
TYC
Closing Price then: $0.66
Closing Price now: $0.65
Comments: This is a long termer and any fluctuations in the price are immaterial. If they've got what they say they've got and got economically get it out of the ground anytime in the near future they're undervalued. If they don't have the cash to do it, or to continue operating in the mean time then they may never get there. That's the case for every speculative company though. In the mean time it stays on the whiteboard.
FAR
Closing Price then: $0.10
Closing Price now: $0.105
Comments: About ten more drills for this old junior oiler this year. Cash in the bank and existing cash flow and low number of shares on issue in compared to similar companies. Spiked at $0.145 on the 15th (I called it on the previous Sunday), but I retain this on the board for its potential.
CST
Closing Price then: $3.33
Closing Price now: $2.95
Comments: Did a good job of calling this one at the top. This biotech company will either hit pay dirt or not. Generally I'm uncomfortable in trading biotechs and despite this one having more going for it than most, subsequent research has led me to stick with what I know - resources and energy. This one gets struck off the whiteboard, but there may be potential there for those that are more familiar with biotechs to have a play.
GPN
Closing Price then: $0.018
Closing Price now: $0.022
Comments: The breakout worked as it should have and its held its own despite the downward pressure bought by the market. Volume hasn't been great and I haven't had an opportunity to look into this in too much detail. Unlike the others, this one was the product of a market scan, rather than researching a good story and filtering based on the chart. It doesn't make the cut and is erased.
RTM
Closing Price then: $0.135
Closing Price now: $0.090
Comments: Well, you've either heard what happened to this or you've been leaving under a rock in preparation for a market crash or something. Peaked at 17.5 after mentioning the word of the moment - uranium. Since then there has been conjecture as to whether they actually hold the tenants and whether or not its Uranium or Thorium. Turns out that the Namibian journalist misquoted the Professor and he wasn't commenting on the likelihood of uranium being present in Reefton's tenants at all, but another field all together. The question of the government renewing/ratifying there tenants remains unanswered. If they get them and there is commercial uranium in the ground then its another PDN in the making, if not there just another company full of broken promises. It stays on the whiteboard on that basis alone, with a serious question mark about the quality of management.
RPM
Closing Price then: $0.085
Closing Price now: $0.079
Comments: No comment. They've been cut from the team.
AIM
Closing Price then: $0.074
Closing Price now: $0.056
Comments: Check out the chart! Couldn't have called the top any better if I tried. A couple of blue candles and a gap to fill could see this one go back up. Off the board.
MUR
Closing Price then: $0.115
Closing Price now: $0.110
Comments: Not a whole lot of chart action, but reasonable volume. They've got uranium and I'd expect some price action when they start telling people about it. The few things I've heard warrent more exploration, so this one stays.
The purpose of this is purely arbitary. I don't and won't ever hold most of these companies, but I think its an interesting exercise to share which spec plays we've all been keeping our eyes on. The price then and now isn't much chop as ideally (see: RTM) you and I would have locked in profits during there runs so we weren't left holding when the music stopped. The unfortunate thing is that I've got precious little time to research most of these, so I direct most of my research to the places I look to place most of my money. Many pass in and out of the watchlist without me taking much more than a cursory look.
I would love to see what people are watching, why and what they're waiting for before making an entry. I've included whats on my spec watch list at the moment for you guys to have a look over and comment on. I would love to hear what you are watching.
Right now I'm very bullish on energy - oil, gas and uranium. You'll note this is reflected in this list.
SMM
Today's Close: $0.32
Comments: They've got a bunch of blocks adjacent to Xstrata's MIM at Mt Isa as well as Iron Ore, Uranium (inferred resource of 75mill pounds uranium oxide at Mt Isa and $1.5mill of drilling planned for sites south of Mt Isa), diamonds, an 11MT Phosphate deposit. Just an explorer for the moment with enough cash in the bank recent raising of $7mill @ 30c sees them cashed up for ongoing exploration, working capital and drilling at Mt Isa. Peaked at $0.49 and retraced on the back of market conditions and the issue. Could be a buying opportunity as they seem to have their finger in everything. Uranium drilling is scheduled and that's been the Midas touch for shares recently. My only concern is when will they look to make the transition from explorer to producer.
AZR
Today's Close: $0.255
Comments: Everything that there is to be said about this one can be found in its thread. BFS due this month.
PDN
Today's Close: $0.875
Comments: Has been hurt by market conditions and the jitters at RTM. Considerably further down the path compared to RTM and an announcement on the 6th of this month claims there relationship with the government in Namibia is cordial. BFS due out this month as well, should shed some light on a real value for PDN.
OPL
Today's Close: $0.575
Comments: If you like NEO, you have to like PDN. More established company with lots of drills coming this year, including its share of the shallow gas project with NEO in the US. Also has a share of the oil drills nearby (NEO doesn't) and an aggresive drilling schedule to boot. Wouldn't suprise me to do something similar to TAP with the flurry of drills it has to come.
RDM
Today's Close: $0.295
Comments: Not a lot of research done on this one yet beyond the fact they have highly prospective uranium tenants in South Australia that there Geologists claim was either the source of or the on the way to a currently mined Uranium reserve. Plenty of cash in the bank.
DLS
Today's Close: $0.086
Comments: Another junior oiler with a lot on the cards. Will post more on this one if a get a chance.