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Would help if I included the chart I was talking about 
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NMR - Nimrodel Resources
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A most informative post KurwaJegoMac, and I can see your reasoning re the 10 cents level. Your charting information is far above that provided by the usual internet share trading groups, but I guess when you are reliant on TA it needs to be!
I am now wondering why the trading at the elevated level (lol) of 9 cents is so low, maybe the buy momentum has stalled, as its gone a long way up in a short while! If it pulls back for me its a buying opportunity! Just a tad lower please ...
I am now wondering why the trading at the elevated level (lol) of 9 cents is so low, maybe the buy momentum has stalled, as its gone a long way up in a short while! If it pulls back for me its a buying opportunity! Just a tad lower please ...
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Thanks Beatle! Whether my analysis is right or wrong time will tell. If it's wrong i'll be stopped at a small loss to capital. But based on your posts and what I can see of the price and volume action I think there's a bigger chance of an upside.
You pretty much nailed it on the head in my opinion. The people buying around the 0.04 to 0.06 mark have seen gains of up to 100% in the past 3-4 months. That's quite a rapid increase so undoubtedly there will be some sort of pullback. Buyers coming in now will be relatively late into the move so there's a bit more risk associated with it - probably enough to dampen the appetite of some and hence bring down demand.
What we need to keep an eye on is the level of supply coming in as the stock drops. The down days over the past month have been with little supply, so demand is absorbing it nicely. I suspect today could be another down day by the looks of how its opened - I'll be watching the supply closely that's for sure.
In terms of demand for any stock offered, i think that NMR will suffer from not having much of a following in the recent past - as demonstrated by the lack of posters on ASF or HC. And much has to do with its ill-fated move into Kyrgyz and subsequent civil war breaking out in that country.
With this latest foray into coal in Africa, we have a completely new direction in which the company is following, but its got some very interesting aspects to that investment:
1. Its Botswana coal projects have a potential for considerable resources based on historic drilling by others. That means the outlook for a whopping resource on its properties is quite good!
2. The latest INDABA (just finished) enabled NMR to start the slow road to informing the investment market of its new direction and its projects. (I understand that INDABA had about 6,000 in attendance) and that a considerable number of overseas attendees.
3. Botswana requires considerable power for future proposed developments, including a major copper project in the final throes of feasibility. That project requires a power station be built, and that means thermal coal must be sourced!
4. Coal is in strong demand internationally and despite it adding to greenhouse gases, remains the primary source of power in the world. And with the problems in Qld recently its put a burner under the coal price internationally!
5. The Chinese are major players in African resources as they see it as a solution to source cheaper long term resources such as coal, iron ore and copper, amongst others.
Once the general market becomes more informed of what NMR are in the process of acquiring we should see a re-rating in NMR IMO! That surely will push the demand for NMR way above the supply side, in the medium term - my view of NMR is that its not a spec trade for a week, its a medium to longer term play that will bear considerably more fruit once the market becomes aware of its potential.
In the immediate term I remain a buyer and will continue to accumulate on any weakness.
With this latest foray into coal in Africa, we have a completely new direction in which the company is following, but its got some very interesting aspects to that investment:
1. Its Botswana coal projects have a potential for considerable resources based on historic drilling by others. That means the outlook for a whopping resource on its properties is quite good!
2. The latest INDABA (just finished) enabled NMR to start the slow road to informing the investment market of its new direction and its projects. (I understand that INDABA had about 6,000 in attendance) and that a considerable number of overseas attendees.
3. Botswana requires considerable power for future proposed developments, including a major copper project in the final throes of feasibility. That project requires a power station be built, and that means thermal coal must be sourced!
4. Coal is in strong demand internationally and despite it adding to greenhouse gases, remains the primary source of power in the world. And with the problems in Qld recently its put a burner under the coal price internationally!
5. The Chinese are major players in African resources as they see it as a solution to source cheaper long term resources such as coal, iron ore and copper, amongst others.
Once the general market becomes more informed of what NMR are in the process of acquiring we should see a re-rating in NMR IMO! That surely will push the demand for NMR way above the supply side, in the medium term - my view of NMR is that its not a spec trade for a week, its a medium to longer term play that will bear considerably more fruit once the market becomes aware of its potential.
In the immediate term I remain a buyer and will continue to accumulate on any weakness.
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Sounds very good from a fundamental viewpoint. I don't do any fundamental analysis so it's hard for me to comment. Still, should we break and hold above 0.1 expect to have a lot more interest in the stock from traders - this will bring in fresh demand and push the price up. This will in turn start to draw more attention from other analysts and lead to a re-rating.
It's hard to ignore a stock that's made a near 100% gain in a few months. It'll start popping up on people's radars very soon.
It's hard to ignore a stock that's made a near 100% gain in a few months. It'll start popping up on people's radars very soon.
In terms of action I would imagine that with NMR going to Gen Mtg in early March (3rd) sets a deadline for the surety of the project and then NMR has the need to start its marketing campaign, and within say 6 months to consider raising additional funds for its exploration (thus raising awareness!) - since NMR has only recently gone to its shareholders for a capital raising there is some time before it needs extra cash, and that gives it some breathing space for getting the price up a bit prior to that additional cash raising - and if it goes above 10 cents by late April there is every chance it will raise some small cash (ca $0.5 million) from options in the market place and unlisted options.
Some relatively bigger volume go through this morning, (like a hammer on my head!). But for me its not significant as its a matter of allowing others take over where a trader or frustrated holder was lurking! And once it is cleansed of these holders then its going to be upward. As I mentioned yesterday, I am not in it for a day or some short time frame, I am in NMR for the medium to long term where a much bigger game will be played out. Anyone wanting to let go of their stock at current prices is providing an opportunity to the likes of me!
As to be expected NMR had all resolutions passed by shareholders at its general meeting to approve its new thrust into coal in Botswana and Tanzania, as well as mineral assets in Tasmania. It was unanimously approved, and the exciting time will be upon us to see how things develop in the coming months. From my understanding of it, the company is likely to be re-badged and a new board developed with a mix of current directors and the incoming Walkabout group. AND most importantly, will likely begin soon to make the broader market be aware of the potential of its coal assets in particular.
I notice that for the first time in a couple of weeks there is a tad trading activity, with it testing the 9.0 cents level for the first time in many months - maybe a sign of things to come. I am already holding and may become a more active buyer once I can see that the runs are on the board - noting that the potential for NMR to move much higher as its coal assets are fully appreciated by the market.
I notice that for the first time in a couple of weeks there is a tad trading activity, with it testing the 9.0 cents level for the first time in many months - maybe a sign of things to come. I am already holding and may become a more active buyer once I can see that the runs are on the board - noting that the potential for NMR to move much higher as its coal assets are fully appreciated by the market.
Are you still in NMR KurwaJegoMac? I certainly hope so as your posts were most informative about the TA side of things, and if you are then we can enjoy it testing your 10 cents resistance mark previously referred to.
I have no doubt that over the next few months NMR will become a market darling with the smaller investors/punters, particularly as the market becomes aware of its potential to emulate the Coal of Africa story - which is now capitalised at close to $0.75 billion, on the same story of building up a coal inventory in Africa - by comparison NMR is capitalised at less than $20 million! ie multiples of price for NMR to go!
I have no doubt that over the next few months NMR will become a market darling with the smaller investors/punters, particularly as the market becomes aware of its potential to emulate the Coal of Africa story - which is now capitalised at close to $0.75 billion, on the same story of building up a coal inventory in Africa - by comparison NMR is capitalised at less than $20 million! ie multiples of price for NMR to go!
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Hi Beatle,
I'm still sitting in NMR, watching it closely.
As you can see it's testing the 0.1 level but for now hasn't been able to break through. The move from 0.08-0.1 has been quite rapid with little volume on down days. Appears that there may not be too many sellers at this point in time. Might have a chance to break 0.1 in the next week or so guess we'll have to wait and see
Based on that, i'm still liking the chart. Will probably top up if we break 0.1 convincingly - that'll be a new 52 week high, a very positive sign.
Cheers for the fundie info!
I'm still sitting in NMR, watching it closely.
As you can see it's testing the 0.1 level but for now hasn't been able to break through. The move from 0.08-0.1 has been quite rapid with little volume on down days. Appears that there may not be too many sellers at this point in time. Might have a chance to break 0.1 in the next week or so guess we'll have to wait and see
Based on that, i'm still liking the chart. Will probably top up if we break 0.1 convincingly - that'll be a new 52 week high, a very positive sign.
Cheers for the fundie info!
Thanks KurwaJegoMac, I agree the move up was rapid and now its dropping lower on almost no volume. I have got orders ready and waiting if we can pick up reasonable amounts of stock at current prices, but seems no one wants to budge!
I'm of the view that the company will want to start its marketing campaign soon once the exploration strategy is agreed by all. Thus me might see some positive action in the coming weeks, and it could break that 10 cents mark at that time. I know for a fact the management are ready to bring on a signficant exploration programme to confirm the historical coal drilling of the project in Botswana, and that will should have a positive impact on share price.
I'm of the view that the company will want to start its marketing campaign soon once the exploration strategy is agreed by all. Thus me might see some positive action in the coming weeks, and it could break that 10 cents mark at that time. I know for a fact the management are ready to bring on a signficant exploration programme to confirm the historical coal drilling of the project in Botswana, and that will should have a positive impact on share price.
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Beatle I hope you kept your shares, an amazing update today, completely left field.
4.23 B tonne inferred coal resource (JORC'd) in Botswana.
At current SP around 6c (after 100% gain today), looking at a $7m market cap. Unbelievable. IS there more to this than meets the eye? It would seem that the market cap should be around the $120M mark based on AFR.
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WRONG this should be 16M approximately based on around 325M shares.
Sorry about that was relying on Etrade, a mistake.
Hi MrJeff, yes I do hold all the shares that I had before, and yes I agree that a 4.23 billion tonnes inferred coal resource was completely unexpected. Thank God for that!! I'm also impressed that the market saw it as a positive with NMR having been completely overlooked previously. Seems they hope to emulate the Coal of Africa success, and such a resource will do wonders for their appeal with the speculators (in all of us!).
My thought is that if they could get the attraction of a Chinese minerals group it would do absolute wonders for the share price, way beyond the price rise the other day!
Hi to NMR shareholders, (I presume your one of them MrJeff?) and interested viewers. I note that NMR is having its AGM this afternoon Perth time 4pm. I plan to attend that meeting. If anyone has got a question want raised at the meeting but can't attend personally I'm happy to ask it for you, just let me know beforehand.
Good to see NMR share price remaining reasonably strong in past days, clearly its a different outlook when you have a resource around 4 odd billion tonnes of thermal coal(ok its Inferred but thats a big number, even if they are 25% correct its still a BIG number!).
Good to see NMR share price remaining reasonably strong in past days, clearly its a different outlook when you have a resource around 4 odd billion tonnes of thermal coal(ok its Inferred but thats a big number, even if they are 25% correct its still a BIG number!).
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Watching closely, holding a few.
With that sort of resource it just seems that the market cap will have to grow.
I know that is dangerous thinking and certainly the market has decided that 5c is just fine per share, but now there is potential for that to change.
Drilling of another promising tenement is ongoing as well, so the news may keep coming, although to match an announcement of a JORC resource of 4.3 B T would be quite hard to trump, however something more tangible - as you mention Beatle, would be very interesting.
We will see soon enough!
With that sort of resource it just seems that the market cap will have to grow.
I know that is dangerous thinking and certainly the market has decided that 5c is just fine per share, but now there is potential for that to change.
Drilling of another promising tenement is ongoing as well, so the news may keep coming, although to match an announcement of a JORC resource of 4.3 B T would be quite hard to trump, however something more tangible - as you mention Beatle, would be very interesting.
We will see soon enough!
Thanks for the reply MrJeff. Yes the resource is considerable and very likely to grow beyond the existing resource once they get the newly acquired tenements drilled out to the appropriate spacing - currently its undertaking a very broad 8km x 8 km grid which won't add to JORC resources, but gives an indication of the extent of coal distribution. But the fact that NMR already has got the biggest coal resource in the entire country certainly won't go unnoticed by the various potential stakeholders.
I had a chat with the MD and the technical (albeit non-executive) director after the AGM, and I would suggest that whilst its early days, there is some sense to building a bigger shareholding base at around the current levels. Seems that most of the trading has been by daytraders that really don't give a hoot to what the company has got in terms of resources, so long as they make a turn on the day. But at least they have managed to provide considerable liquidity, have enabled to get NMR share price up and noticed, and will likely follow the stock once it gets more recognition by the brokers (who don't know the company). The MD argues strongly that based on its peers in the general area NMR could quite conceivably build its share price towards 20 cents in the coming months, subject to things developing as it is hoped. I can see his logic in that and obviously will watch it very closely in coming months.
Its noteworthy that NMR does not have a lot of cash, but sufficient to undertake the current round of drilling plus complete a scoping study for an above ground coal gassification plant plus some other alternative processing facilities. It is assumed that by the time NMR requires more funds those activities will have forced the share price up towards more acceptable levels.
I'm impressed with what has occurred to NMR in the past couple of months since the new MD was appointed, whether that is coincidental or whether its his influence is not certain. But he had grabbed the bull by its horns and is running well with it now!
I had a chat with the MD and the technical (albeit non-executive) director after the AGM, and I would suggest that whilst its early days, there is some sense to building a bigger shareholding base at around the current levels. Seems that most of the trading has been by daytraders that really don't give a hoot to what the company has got in terms of resources, so long as they make a turn on the day. But at least they have managed to provide considerable liquidity, have enabled to get NMR share price up and noticed, and will likely follow the stock once it gets more recognition by the brokers (who don't know the company). The MD argues strongly that based on its peers in the general area NMR could quite conceivably build its share price towards 20 cents in the coming months, subject to things developing as it is hoped. I can see his logic in that and obviously will watch it very closely in coming months.
Its noteworthy that NMR does not have a lot of cash, but sufficient to undertake the current round of drilling plus complete a scoping study for an above ground coal gassification plant plus some other alternative processing facilities. It is assumed that by the time NMR requires more funds those activities will have forced the share price up towards more acceptable levels.
I'm impressed with what has occurred to NMR in the past couple of months since the new MD was appointed, whether that is coincidental or whether its his influence is not certain. But he had grabbed the bull by its horns and is running well with it now!
A solid performance to mid-session, up 15% to 4.6 cents, with reasonably heavy volume of 17 million shares. I guess its still just traders making a short turn on the stock, but my view is that NMR is no where fully priced for its colossal coal resource recently announced, and likely to increase further with additional drilling outside of the resource area - and that peripheral area seems from initial information to have more attractions in terms of the coal - thicker and shallower coal seams, and possibly lower sulphur content.
IMO NMR will go for a run once it completes an initial scoping study for an above ground coal gassification processing facility with incorporated sulphuric acid production facility that will be sought by the country's proposed copper production industry in coming years. Thus building up a holding in NMR is IMO a smart strategic view at current prices. I have been building a stockholding for that future run that I expect on its shares way beyond its recent move upwards!
IMO NMR will go for a run once it completes an initial scoping study for an above ground coal gassification processing facility with incorporated sulphuric acid production facility that will be sought by the country's proposed copper production industry in coming years. Thus building up a holding in NMR is IMO a smart strategic view at current prices. I have been building a stockholding for that future run that I expect on its shares way beyond its recent move upwards!
NMR - Nomrodel Resources
NMR is trading up again today, which is becoming a regular activity every few days or weeks! Ever since they announced billion tonnes of coal in the resource inventory a section of traders/investors have been prepared to move it up on a couple of days heavy trading. I wonder if its an indication of things to happen (POSITIVE) down the track?
I continue to hold a stack of them, so here's hoping....
NMR is trading up again today, which is becoming a regular activity every few days or weeks! Ever since they announced billion tonnes of coal in the resource inventory a section of traders/investors have been prepared to move it up on a couple of days heavy trading. I wonder if its an indication of things to happen (POSITIVE) down the track?
I continue to hold a stack of them, so here's hoping....
Re: NMR - Nomrodel Resources
Eh Joe Blow, I mistakenly spelt the name wrong when I posted my last post on NMR, can you please adjust it and add to the previous threads re Nimrodel Resources.
Seems like its getting a fair amount of volume today and looks like its ready to move up a bit further. Here's hoping ....
Eh Joe Blow, I mistakenly spelt the name wrong when I posted my last post on NMR, can you please adjust it and add to the previous threads re Nimrodel Resources.
Seems like its getting a fair amount of volume today and looks like its ready to move up a bit further. Here's hoping ....
