Australian (ASX) Stock Market Forum

OMC - Omegacorp Limited

Jump to new
I sold these at about $0.70. :(

I haven't looked at them thoroughly for a while. Chart looks good.

Trading halt:

Maybe Mavuzi results. Testing was done in Nov.
Could be considerable resource upgrade at KUP maybe from Bungua.
They need $60m to get the KUP going so could be ann on how that's going to be funded. They only had $11m at the end of the Sep Qtr.

Just why did I sell this? :mad:
I think I did on a tchnical indicator. :eek:
 
kennas said:
Just why did I sell this? :mad:
I think I did on a tchnical indicator. :eek:
Click to expand...

Which indicator is that?
Price breakout through previous resistance on high volume (see monday 27/11) is a BUY indicator for me.
 
kennas said:
Trading halt:

Maybe Mavuzi results. Testing was done in Nov.
Could be considerable resource upgrade at KUP maybe from Bungua.
They need $60m to get the KUP going so could be ann on how that's going to be funded. They only had $11m at the end of the Sep Qtr.
Click to expand...

$11million is enough for the drilling and resource upgrade.
$60million is for mine construction CAPEX. Will probably be funded sometime mid next year.

I think its Bungua drilling results. Maybe not a resource upgrade just yet.
 
nizar said:
WHich indicator is that?
Price breakout through previous resistance on high volume (see monday 27/11) is a BUY indicator for me.
Click to expand...
I made a mistake selling at $0.78 when it was falling from the $0.90 peak. The 'indicator' I thought I used was the drop through $0.80 which was a very short term support level. (in my analysis at the time) Also, at the time I wasn't trusting my theory that $0.75 would be a support level, which it was. I think at the time I was worried about the market in general and was getting out of a lot of positions...Having said that, I made an ok profit. :)
 
Announcement just out...

Does the voluntary suspension of trading mean that the upcoming announcement won't be made prior to trading commencing tomorrow (Tuesday) ?
 
Read on another forum that apparently the upcoming announcement is a rights issue or placement. :banghead:

Announcement to be made on Wednesday morning apparently.
 
afroboy said:
Read on another forum that apparently the upcoming announcement is a rights issue or placement. :banghead:

Announcement to be made on Wednesday morning apparently.
Click to expand...

Rights issue will be a quicky. More like placement. The greedy underwriter might want deep discount, OMC might not want to give up easily. The existing shareholder's best chance might be a SSP.
 
afroboy said:
Read on another forum that apparently the upcoming announcement is a rights issue or placement. :banghead:

Announcement to be made on Wednesday morning apparently.
Click to expand...

I dont think so.
Theyve got 10million in the bank.
 
noobs said:
voluntary suspension till tomorrow
Click to expand...
Says who?
The suspension can last for as long as required until an announcement can be released. That may be 2mrw, next week, whenever.

I dont think its good news otherwise there wouldnt be these hassles.

The best type of trading halts are the ones like MLS had on monday 27th. Lasts for only 5mins. Then share price goes up for 30% in the next few hours. :D
 
Buys so far have been small, but worth a read perhaps...

Major Drilling buys three African mining companies
Last Updated: Monday, December 4, 2006 | 10:12 AM AT
CBC News

Moncton-based metal and mineral drilling company Major Drilling is expanding into southern Africa.

The company may be based in Moncton, but most of its work is a great distance from New Brunswick.

It has offices in Winnipeg, Salt Lake City, Utah, Brisbane, Australia, Mongolia and now Johannesburg, South Africa.

Company president Francis McGuire says Major Drilling paid $12.5 million to buy three African mining companies.

"It's a very good starting base in three good countries ”” Botswana, Republic of South Africa and Namibia ”” but from there we will look at Angola, Mozambique and Zambia as well," he said.

McGuire says the company picked up 55 drilling rigs as well as experienced drillers and major contracts. He says those rigs will be used to perform exploration work for mining companies.

Continue Article

"There's quite a bit of activity in South Africa. There, the activity driving the mining industry is platinum," he said.

McGuire says there's also a lot of work looking for diamonds, uranium, copper and gold. He says the company expects to double its revenues over the next few years.

Major Drilling has 22 employees at its head office in Moncton.
Click to expand...
 
Afro wats the point of your article?

How does OMC fit the description of "3 companies for $12.5million" ??

$125mil maybe... :2twocents
 
$1.10 is disappointing... my vote is no.

I'm surprised the Directors have unanimously decided to accept it.
 
I don't hold, but I would say a big fat NO

You guys can't be at all happy with that
What for those who only held say $1000, they make $100?
 
No way, why not the board sell themselves as slaves for Canadians?

HMR and RPT were sold to Canadian before. Each of them would be worth more than twice of the price at ann after a couple of months.

DEN have to pay $2.2 to get my vote.
 

Similar threads

System
I88 - Infini Resources
Replies
3
Views
2K
finicky
finicky
System
MG1 - Mining Green Metals
Replies
1
Views
934
Dona Ferentes
Dona Ferentes
System
NGX - NGX Limited
Replies
4
Views
1K
Sean K
Sean K
Dona Ferentes
BWN - Bhagwan Marine
Replies
3
Views
1K
UMike
UMike
System
IOG - Innogy Limited
Replies
2
Views
836
System
System
Top