PMH - Pacmag Metals

[Realist]

Well it is a risk, we all bought it knowing that. We may lose money and have egg on our faces, but if you wanna make money trading you gotta buy some shares and this company is as good as any to buy at the moment I think. The downside is low with such a small market cap and such a good inferred resource, the upside is huge. I'm hoping anyway.

 

[tech/a]

You saw PDN first here, you considered buying it for pennies, but you didn't. You then saw it go up but didn't buy again and again and again.

Had you just bought and held PDN you'd have made a mint!

Tich tich tich,Realist-----leave one on to the next.
Here in lies the difference.
I dont trade would have's could have's or should have's.
I'm in or out,right or wrong, profit or Smallest possible loss.
While PDN was doing its thing I was off doing other things.
If you think the downside is small on this stock ask someone who bought 100000 at $.52c whos held and currently down $9k.

Sure it COULD reach the sky,it COULD fall further,and it should in my veiw do very little in the next few months.

It may well have huge upside and if I pick it up if and when it moves I'll join in but not before

For further education read this thread and then check its current price.

https://www.aussiestockforums.com/forums/showthread.php?p=77971#post77971

.

 

[Realist]

Fair enough Tech, we'll have to wait and see.

I am confident though.. :

If you think the downside is small on this stock ask someone who bought 100000 at $.52c whos held and currently down $9k.

You may find that person makes a mint off this, it aint over yet!!

 

[chris1983]

If anyone missed on paladin. You still have a chance to get onto Bannerman (BMN). They went down today though.

Okay well back onto PMH. The whole fiasco of it being economic or not is what people are worried about. I have tried reading up..finding articles..but cant really find anything.

 

[johnmwu3]

Chris, BMN already got a big rise, could you pay some attn. to CUY, how do you think about it, maybe it got a huge potential.
Cheers,
John3

 

[chris1983]

Chris, BMN already got a big rise, could you pay some attn. to CUY, how do you think about it, maybe it got a huge potential.
Cheers,
John3

Yeah I know John. I think BMN will go further thats all. Ill check out CUY and post in the CUY thread later tonight or tomorrow.

Anyway I want the opinions of all you experienced traders! What are your thoughts on this resource being economical. This is a huge resource. The whole topic of it being "economical to mine" is what pushed them down today.

 

[ALFguy]

This is a huge resource. The whole topic of it being "economical to mine" is what pushed them down today.

Do you really think that was the reason Chris?
I suspect traders were simply watching the buy/sell depth and making calls on which way it may trend.
It'll be the investor types who are thinking about the potential.

All I can say is I think it's got huge potential simply for having this size of a deposit and in all likelyhood there will be future announcements increasing the resource.

Hopefully there'll be some media coverage over the weekend so we don't see a sell off Monday.

 

[johnmwu3]

Mining news:
PACMAG Metals has added 64% more copper to the resource at its Ann Mason copper-molybdenum-gold deposit in Nevada, with the good news flowing on to its share price ?which jumped just over 62% in morning trade.
The company's new inferred resource for Ann Mason contains 810 million tonnes at 0.4% copper and 0.004% molybdenum (using a 0.3% copper cut-off) and includes a higher grade zone of 220Mt at 0.51% copper and 0.004% molybdenum (at a 0.43% copper cut-off).
A previous estimate of the deposit was completed in the 1970s by Anaconda Copper.
Pacmag managing director Michael Clifford said the 3.2Mt of contained copper in the deposit had an in-ground value of $US25 billion ($A33.5 billion), based on current metals prices.
"We own 100% of the Ann Mason copper-molybdenum-gold deposit, which is close to rail and power and is in Phelps Dodge's backyard, located in what is considered the most attractive location for mining investment in the world," Clifford said.

"Our Ann Mason deposit means Pacmag has one of the largest undeveloped deposits of its type in the American continent and during the fourth quarter of this year, we will complete our scoping level study, which will provide us with the details we need for mine and processing operations."

The good news continues for Pacmag, with current drilling indicating the deposit is open at depth, and two new large northwestern resource targets have been identified where previous drilling intersected high-grade copper mineralisation of up to 10.5%.

Better intersections from the new targets include 20m at 1.11% copper, 302m at 0.81% copper, 0.08 gram per tonne gold and 1gpt silver, and 220m at 0.68% copper and 1gpt silver.

In addition, Pacmag is assessing new regional targets in the Ann Mason area, which the company said "will have synergy with any potential future operation" in the region.

The Ann Mason project consists of a total of 80 unpatented mining claims covering a deposit discovered in the 1970s by Anaconda.

Shares in Pacmag are settling down from today's high of 30c and are currently at 27c at midday trading today. The stock began the day trading at 18.5c.

 

[nizar]

It may well have huge upside and if I pick it up if and when it moves I'll join in but not before

what do u mean, when it moves? hasnt it already moved? wat makes u think the move was over?
what would have stopped u from buying it at 54 or 55c this morning?
(obviously at the time u wouldnt have known that it would go back to the low40s)

 

[nizar]

Nizar youd better hope for a strong DJIA tonight.

wouldnt u face the same risk buying any stock on a friday and holding over the weekend?

(no disrespect intended)

as for DJIA, im confident:

WASHINGTON (MarketWatch) -- The U.S. economy may be slowing as a result of a weaker housing market, but the September job report will show it hasn't toppled over, economists said Friday.

A sign of a slow, steady, Soft-landing for the economy
Another win for the bulls

 

[tech/a]

Nizar.

Its bolted. But when I saw it at 42c after a gap up of 60% it was too risky for me--but thats me.
I've seen 100s of these and its in a typical blow off right now.
A weak day monday will see more panic selling.

Yesterdays open at 54c and close at 42.5 on its days low with far more volume that the intitail breakout (Everyone has over looked this).
Shows sellers were selling into buyers not the other way round.

It will pull up when there becomes a balance between buyer and seller.My bet is as low as 32.5c then it could well hover for who knows how long.

There is no production only a discovery so way way off from profits.
But all you Fundies know that anyway.

General thinking in a fast pull back. As it falls.
(1) Profit takers--"They dont know what they are throwing away"
(2) "Fantastic an opportunity to but more"--many do.
(3) Bugga what are these idiots doing they cant value a deli!
(4) Hmmm down 35%,I'm in early so thats chicken feed.
(5) I'll sell some to lighten the load.
(6) Hell down 50% no way am I selling these babies into the bottom draw,they'll come good!!

Its pretty easy to spot those caught.
They look for every piece of positive news they can find.Every reason to support their views.Plenty of that here.

Those that arent caught in the hype can actually see reasons why things may not be as rosey. Funny that.

Well it is a risk, we all bought it knowing that.

Fine but what did anyone do to MITIGATE that risk?.

The only risk control Ive seen here is hold it in the bottom draw until it makes a million.
Hell at a 300% return in 2 days how much do you people expect to make.
Id take 20% a day day in day out! Greed,just like the pokie player,"In goes another $50 it will pay --IT HAS TO.

Whats happening is people are investing when they should be trading.

I honestly dont think most here wanted to invest they have just found themselves in a position where taking losses would be too painful so in comes the investment plan.---They are then left with less funds and in some cases no funds to trade with.

 

[SevenFX]

It will pull up when there becomes a balance between buyer and seller.My bet is as low as 32.5c then it could well hover for who knows how long....

Tech/a

Is this there support you refer to....?????

Any feedback welcome on my charts...as still have my "L" plates for few more years to come....

edit: 3 chart edits later

 

[chris1983]

Its pretty easy to spot those caught.
They look for every piece of positive news they can find.Every reason to support their views.Plenty of that here.

Those that arent caught in the hype can actually see reasons why things may not be as rosey. Funny that.



Fine but what did anyone do to MITIGATE that risk?.

The only risk control Ive seen here is hold it in the bottom draw until it makes a million.
Hell at a 300% return in 2 days how much do you people expect to make.
Id take 20% a day day in day out! Greed,just like the pokie player,"In goes another $50 it will pay --IT HAS TO.

Whats happening is people are investing when they should be trading.

I honestly dont think most here wanted to invest they have just found themselves in a position where taking losses would be too painful so in comes the investment plan.---They are then left with less funds and in some cases no funds to trade with.

Tech-A seriously what is your problem? I read (researched) a lot on these before i bought in. I didn't see any risk at all in my mind. Most of my decisions over the past 6 months have done very well. My two major holdings are in BMN and AOE. You go work out the maths. If I believe the potential is there I will buy. If I believe the potential has gone I will sell.

I know I'm one of the people your talking about when you say

Its pretty easy to spot those caught.
They look for every piece of positive news they can find.Every reason to support their views.Plenty of that here.

Course I'm going to try support my views. I havn't lost for awhile and dont like losing. My views mean jack when influencing the SP..but I wrote in here to see what people thought of its potential.

 

[SevenFX]

Tech-A seriously what is your problem?

Chris,

I think the beauty of being involved in any forum, is that people expres their points of views, as I welcome anyone to share their point of views...as I/we can all learn from them....

If we supress one poster, that not fair on everyone and the poster concerned.....Even "Relist" which seems to get a hammering (sorry relist) is entitled to have his view and stragerty...IMO.

I have lost **** loads of money and can't beleive how right Tech/a has replayed my thought process in the past months....and only wish I had read for months first here, and not traded...

I didn't see any risk at all in my mind. Most of my decisions over the past 6 months have done very well. My two major holdings are in BMN and AOE. You go work out the maths. If I believe the potential is there I will buy. If I believe the potential has gone I will sell.

I know I'm one of the people your talking about when you say

Course I'm going to try support my views. I havn't lost for awhile and dont like losing. .

Chris, with no disrespect to you, IMO my past performance is not necesseraly a going to guarantee my future performance....

I been thought, charts don't lie, and my chart view is only one view, so pls put up what you see so we all can see a different view.

Unless your Investing and on fundermentels, whic is totally differnet reason to hold this little baby....

IMO I ould hav still coped my loss earlier ( which I haven't done so many times) and tried to buy back in at the bottom of this trend...

Just my opinion... so pls don't shoot me down.... as everyone appreciate each others views, even if yours is different.

edit: I have come off so many flaming post sites, where that mentality breeds rampently, and wouldn't go back there, as it's such a big waste of time, and draining.

SevenFX

 

[nizar]

Nizar.

Its bolted. But when I saw it at 42c after a gap up of 60% it was too risky for me--but thats me.
I've seen 100s of these and its in a typical blow off right now.
A weak day monday will see more panic selling.

Experience is priceless.

Iv just seen a couple of these and theyve kept going up, and up, and up.

[/QUOTE=tech/a]Yesterdays open at 54c and close at 42.5 on its days low with far more volume that the intitail breakout (Everyone has over looked this).
Shows sellers were selling into buyers not the other way round.[/QUOTE]

Maybe so, pity i didnt know about what the close would be and what the final volume would be at the time i bought some.
(Yeh, i probably shouldve got "stopped" out - but i didnt want it to hit my stop and then start bolting)

Im up heaps in the last 18months, if i make a loss here, so be it.

There is no production only a discovery so way way off from profits.
But all you Fundies know that anyway.

What makes u think that a company needs to be near production/profits for the share price to go up or keep going up?

Your experience again, it must be... damn i gotta get me some of that...

 

[nizar]

IMO my past performance is not necesseraly a going to guarantee my future performance....

Thats not your opinion bro, thats FACT. But having a good performance in the past gives you confidence in your system for picking winners. Just like what tech says, if historically uv been able to pick 60% winners, then u dont know whether a trade will be a winner or a loser when u enter it, but u take confidence in the fact that 60% of the time, it will be a winner.

I been thought, charts don't lie, and my chart view is only one view, so pls put up what you see so we all can see a different view.

Charting is not a exact science, what u see depends on which TA indicators u are looking for.

 

[chris1983]

Eh better to just leave this blank.

 

[chris1983]

I'll end up saying something and making enemies so I wont say much.

I just want you to know I didnt buy into these as a gamble. I actually did some serious reading before jumping on. Thats why I referred to my other stocks because I researched them hardcore before jumping in also. Im not on a loss as of yet..but could be if these get hammered first thing monday.

The fact is they have 33 billion in ground value.

The unknowns are the costs involved with digging it out and whether its economical or not.

A lot of talk has been negative towards the costs of digging it out so Monday should be interesting.

 

[SevenFX]

Im up heaps in the last 18months, if i make a loss here, so be it.

Well time [[generally]] will turn this loss into a profit, ESPECIALLY when the companies find is so great...so amybe if your not holing 2 much, it may pay to put them into you investing stock (bottom draw for now)

Or of course sell if it opens lower, and buy back in, if your bullish then...????

Sorry nizar, you guys are years/miles ahead of me, but I'm just expressing my thoughts so I can get different points of views....

p.s forgot to put resistance lines in, for MONDAY..... but couldn't work out how to move the captions around the middle of the page for the resistance captions....

EDIT: ENJOY the SUNNY weekend Guys... :

 

[Realist]

Well, if someone had come to me on Monday and said "hey I know a company with a market cap of $60M that is just about to release news they have an inferred copper resource worth $33 Billion, they have significant upside potential to increase the resource grade. The mine is in Nevada, close to other mines, electricity, and rail. The company owns 100% of the deposit, and all permits are in place to commence drilling."

Then they ask "do you want in at 60 cents a share?" ($60M market cap)

I'd say "Yep, it is worth a punt".


Just because the share price only went up slightly on Friday does not mean this is a bad buy.

Sure we could have got it cheaper, and sure I should have bought Microsoft 20 years ago.

Trading and investing is incredibly simple in hindsight.

I didn't get the low on PMH, but I am happy with my purchase. It could easily rocket on Monday!