NWR - Northwest Resources

[Bush Trader]

Planning to bore a sideways tunnel to the other gold deposit sounds very sensible and cost effective.....and you never know what they might find in between........another load of gold they missed even.

Any weakness in the sp and I'm in for more.

To quote a famous Austraian poem by A.B. Patterson; “There was movement at the station cause the word had passed around……”

Huge volume today 1,480,000 with large swipes having been taken 300,000 – 330,000 – 477,508

Any ideas?

 

[jtb]

To quote a famous Austraian poem by A.B. Patterson; “There was movement at the station cause the word had passed around……”

Huge volume today 1,480,000 with large swipes having been taken 300,000 – 330,000 – 477,508

Any ideas?

Orders coming in from the rig with a bit of luck:

Bounty gold mine (south of Southern Cross) is in a horrible messed up altered type BIF and is pressurised (rocks shoot off the walls at you ).
One particular section kept closing in on the jumbo (one operator was killed) so they backed out and ran the decline directly through the ore body.
Rest assured that if its feasible, they'll put drives anywhere.

 

[Bush Trader]

Another large swipe at 444,770, something has to be going on!


Cheers

 

[maffu]

Another large swipe at 444,770, something has to be going on!


Cheers

Im assuming the markets will be closed Friday to Monday. So it may be Tuesday before we find out anything at the earliest. Very strange to see the volume spike after very little volume over the last week.

 

[Bush Trader]

Here are a few facts that will put today’s trading in NWR into more perspective. This share has only been over 1,500,000 5 times in its life and 2,000,000 once with aprox. 35,000,000 shares on issue ATM this equates to a 5.7% daily turnover (refer to chart below). To keep this in context, it must be recognised that due to the placement in December there are a lot more shares out and now 18.28 million to be exact, however almost 6% of the total share were transacted in a day. There have been allot of seagull sellers now taken out of the equation, which will only be good for further momentum now. The old support of 35c had now begun to form resistance and has now been taken out, a crucial hurdle IMO. The upper Bollinger band has also been broken today, if only by 1.5c or 4.3% (refer to chart below), due to the tight trading range over the last 6 weeks

It will be interesting to see if there is a change in substantial holding notice next week. I wouldn’t have thought that there were detailed drill results for weeks (6-8), anyway time will tell.

Best of luck to all those who are long

 

[Absolutely]

I wouldn't get too excited yet - it didn't keep going today and stalled at 35c.

All the goldies were up today and I think it was just following the trend. Hope gold holds up over Easter otherwise I think we could see it back at 31c on Tuesday and all the excitement will be over until we do get an announcement of some sort.

 

[Sean K]

Here are a few facts that will put today’s trading in NWR into more perspective. This share has only been over 1,500,000 5 times in its life and 2,000,000 once with aprox. 35,000,000 shares on issue ATM this equates to a 5.7% daily turnover (refer to chart below). To keep this in context, it must be recognised that due to the placement in December there are a lot more shares out and now 18.28 million to be exact, however almost 6% of the total share were transacted in a day. There have been allot of seagull sellers now taken out of the equation, which will only be good for further momentum now. The old support of 35c had now begun to form resistance and has now been taken out, a crucial hurdle IMO. The upper Bollinger band has also been broken today, if only by 1.5c or 4.3% (refer to chart below), due to the tight trading range over the last 6 weeks

It will be interesting to see if there is a change in substantial holding notice next week. I wouldn’t have thought that there were detailed drill results for weeks (6-8), anyway time will tell.

Best of luck to all those who are long

I agree was very positive that it broke 35, but will face plenty of resistance on the way to 40, IMO. MACD looks to be confirming a bottom was found at 32ish, and now momentum is up. Breaking BB on the up in itself isn't necessarily a great thing, but relative to it's move down I see this as positive, and it probably will turn here, pending general market staying healthy. Having said that, I like to see a past resistance level tested as support again before a true break can be claimed.

 

[LifeisShort]

Either way good to see some action. I hate the lack of news but I love what the company is doing. Its the most frustrating stock in my portfolio and the worst performing but I'm patient enough to hold for a little while yet. The potential is huge.

 

[maffu]

Either way good to see some action. I hate the lack of news but I love what the company is doing. Its the most frustrating stock in my portfolio and the worst performing but I'm patient enough to hold for a little while yet. The potential is huge.

If NWR is your worst performer i need some portfolio building tips form you!

 

[LifeisShort]

If NWR is your worst performer i need some portfolio building tips form you!

I'm just just a mug punter getting very lucky at the moment. The only tip I can give you is have patience in the stories you believe in and don't let anyone tell you otherwise. This way you won't have anyone but yourself to blame for your stupidity and praise yourself and when you make the right choice.

 

[Sean K]

I agree was very positive that it broke 35, but will face plenty of resistance on the way to 40, IMO. MACD looks to be confirming a bottom was found at 32ish, and now momentum is up. Breaking BB on the up in itself isn't necessarily a great thing, but relative to it's move down I see this as positive, and it probably will turn here, pending general market staying healthy. Having said that, I like to see a past resistance level tested as support again before a true break can be claimed.

Looks like previous resistance has formed support, for the minute. As expected lots of resistance between 35 ans 37 ish. Perhaps it has changed to the up.

(not holding)

 

[pacer]

News seems to be a problem...otherwise it's a goer IMO.

Watching every day for a breakout in case we get a bit of action (inside) going.

 

[Fender]

Re: WTE Wedgetail and NWR - Northwest Resources

Any further updates on these two? Seems they should be moving ahead by now. They seem to have potential but not being taken up by market.

Another very positive development on the potential of the two parrallel shear zones is they run into leases owned byWTE - Wedgetail. WTE has proven up inxs of one million ounces of au in reserves and resources and is fully funded for mine development and production.

WTE has directed all of its current drilling into the Eastern end of NWR's claim block where the Red Ribbon and Blue Spec Shears run into WTE ground (for about 7 kms). Drilling has been shallow RC and has found substantial quantities of open pittable high grade ore on the two shears in the "Golden Gate" area. IMHO this augurs very well for NWR's potential to find multi millions of hi grade ounces along 32 kms of shears that they control.

WTE is valued at $65,000,000 on the basis of open pittable low grade ore and NWR is $16,500,000. NWR could go to production at 40,000 oz per year on their existing plant and permitting. Next few announcement should be very interesting, as they are talking the highest grade gold mine in Australia, IMHO the next few reports will continue to show the very substantial potential of the area.

 

[maffu]

News seems to be a problem...otherwise it's a goer IMO.

Watching every day for a breakout in case we get a bit of action (inside) going.

News is out. Not much price action to speak of, but high volume. Im still wading through the report trying to understand it.

 

[Holdon]

A possibility on the gold boom that is supposedly about to happen

I'm looking closely at the next announcement but management are rather cagey about any announcements.

I believe that they may be holding back Bullish announcements so Intitutionals can take a bigger slice of the pie. or for themselves and their friends by taking out sellers.....Volume means action IMO, and holders seem to be going elsewhere.

It wll only be a month or two till the real results are published, so I can wait.

Keep holding and enjoy the next stof results....soon, very soon IMO

 

[maffu]

Anyone still in NWR? Pacer you still like them?

This is the first time the price has dropped lower then the price i bought in at .27 for me. Bit nervous that the news coming out has not been extraordinary.

 

[YELNATS]

Anyone still in NWR? Pacer you still like them?

This is the first time the price has dropped lower then the price i bought in at .27 for me. Bit nervous that the news coming out has not been extraordinary.

Bought in early March at an average of nearly 34c. Sitting on a loss ATM but still holding patiently for the favourable ann's still to come.
regards YN.

 

[nioka]

Anyone still in NWR? Pacer you still like them?

This is the first time the price has dropped lower then the price i bought in at .27 for me. Bit nervous that the news coming out has not been extraordinary.

Bought in at 34c. Still holding and expect to do OK with this one. They seem to have the gold but will take a little time to prove themselves. I hadn't expected a sudden rise but I also did not expect the slide in price. I'm happy to hold and expect more interest in them in the new financial year.

 

[Bush Trader]

Bought in at 34c. Still holding and expect to do OK with this one. They seem to have the gold but will take a little time to prove themselves. I hadn't expected a sudden rise but I also did not expect the slide in price. I'm happy to hold and expect more interest in them in the new financial year.

Hello Punters

The strategy for the company at the moment seems to be increasing the JORC reserve as quickly as possible. Drilled beneath the old reserve and got some OK but not fantastic results, just missed that high grade pocket that gets the punters jumping in the labs.

Whilst there is a sell off the could be an opportunity to average, its only really been a smaller holding sell off with a few large buys at between 200,000 & 400,000 shares. Perhaps some tax loss selling from the roosters that bought in on the rallies pre-announcements. The institutional investors don’t be appear to be heading for the exits, even though the appetite for risk appears to be changing in the market.

It will be an interesting 6 – 12 months for gold, and as such small non-producing gold companies. There will be joy and pain. Keep focusing on the fundamentals and that is implied fully diluted value of the company in relation to its JORC. Is this another NEW where no one has done the math? What will happen if that JORC for example goes up by 50%-100%? Will it then be considered a fish worth chasing by a “hungry for proved up resource” larger fish or maybe even a shark?

Good luck to all those who are long

Yours “Accumulating in small chunks during periods of weakness”

Bush Trader

PS: The rain should improve everyone’s attitude, it certainly has had a good affect out here in the bush!

 

[nioka]

At last some good news from NWR. Recent deep drilling at the blue spec site has have resulted in the deposit achieving key internal benchmarksrelated to resource continuity any growth potential. We should see an increase in the SP following this announcement by the company.