Positions updates

[mu5hu]

Hey Kennas,

What your opinion on the capital raising in RER? Do you think by giving out discounted shares, at 3c, that the SP will fall to that level? I haven't looked into capital raising and effects much yet but from your opinion, do you think it helps the SP or does it bring the SP down to the discounted price?
That question doesnt just apply to RER, but in general, does capital raising by giving cheaper shares reduce the SP to approx the discounted price?

Cheers

 

[Sean K]

It ´s bad for the sp and it should trade down around these levels. This move is effectively a poison pill for Michael Ruane who I guess wants to gain control of the company along with his other co director at IRC. This is just a BS move by the company IMO and there ´s a chance that Ruane may get on the board and start making some moves. I ´ll be voting him in.

 

[Sean K]

Sold the rest of my MOG at 7.

Will buy more STB on Monday, if I am near a computer.

Bloody missed the jump in IRC as I am in the jungle!! aaaghh! Missed out on some $$ there.

AZM has pulled back unfortunately, more consolidation...

BMN may consider if it breaks downward trend line around 1.75.

 

[mu5hu]

So in terms of RER, you think it must bounce back up at some point since its just had bad news after bad news?

What part of the jungle are ya in? haha

 

[Sean K]

I`m not sure how they`ll go, but on an MC to oz au comparison I think they are the lowest priced explorer with a JORC by a long long way. I`m gambling that Ruane gets hold of them and shakes them up a bit. Wouldn`t be surprised at a takeover offer either if IRC keep moving up how they are and get their finances sound.

In SE Venezuela now in an area called the Gran Sabana. Sort of like Africa without the animals.

Damn I`ve missed some opportunities because of this trip.

Would have bought more IRC and STB during these breaks!

Still not happy with ROYs management. They should have produced their own report on the GBG plans for the JV, but nope, just sat on their hands. Bloody hell it`s not that hard to ramp your own company!!!

 

[JTLP]

Kennas, whats with all the travelling to the exotic nations? What you do for work you lucky tiger?

Has this new potash theory (similar to the U theory) put you off the likes of STB? Or do you still see upside in them?

IRC back around 42 cents, you can still grab some (where is the wink!)

 

[Sean K]

Hi JTC,
I`m living in Peru and my wife manages a travel company that operates trips all around South America. I ´m currently doing some research for a new trip which goes from Belem at the mouth of the Amazon to Caracas, and a trip encompassing Venezuela. Believe me though when I say this is not a holiday. It`s bloody hard work.
As far as `work`goes, I`ve been full time investing for 3 years.
And travelling.

 

[Sean K]

I`ve had to sit on my hands for the past 3 weeks unfortunately, as I ´ve been on the road, water and air between The Brazilian Amazon and Caracas, Venezuela.

Have watched as DMM positively broken up and is still going.
BMN hit a bottom and breaking through 1.75 very positive. Higher highs and lows, looks like bottoms in.
STB looking shakey. Nastey H&S forming up, hope 25 holds short term.
MAKO at a discount to heads. Converting them when I get home. Hopefully $2.00 holds up but looks tenuous. Need some drill results and Moina FS to come through positively. Maybe Story Creek JV confirmed and some good results. Anticipate a decent sale of Franklin Iron will give them the equity to go through BFS and some of the capex for Wonarah.
LGL and NCM recovering beautifully. Couldn`t buy at what might be a bottom.
ROY making mid term higher highs and lows looking OK.
IRC profit taking. Not sure where it`s going short term now. Need 42 to hold, or it`s looking poor short term.

Missed on GCR and CVI obvious trades.
Missed trading the gold rebound.
Missed possibly taking some profits on STB and IRC.
Miss my couch and remote.

Back ´home ´tomorrow!


PS, just added graphs correct as at 23 May with the inclusions on GBG, a few more BMN, and MLM - to be discussed later.

Only losing 'investment' right now is RER, down 33%, but when I get the entitlement it will probably be down 10% or so. Even then, I'm very concerned about this knife grab, and am considering clearing the decks of it once I get the cheaper shares.

 

[Sean K]

Topped up a few BMN at 2.04.

IRC looking very shakey now. Missed opportunity to lock in good profits. If 35 doesn't hold it's going back to 30, at least, IMO.

ROY looks to be trying to break up, will probably take a few off the table on a break to .35.

STB holding above .25 is good, will top up a few on break up through .30.

Am taking up 1 for 1 entitlement offer with RER to double holding.

 

[Sean K]

Bought GBG yesterday afternoon. Looks to be breaking up from a pole and pennant, target 1.70 ish. Just a chart trade, will sell it if it fails.

 

[mu5hu]

Hey Kennas,

U previously sed STB was forming a H&S pattern. U believe its gone since it broke 30c?
did you top up more on more STB shares??

 

[Sean K]

The potential H&S may be invalidated. 25 holding was very positive, however a bit early to call. I will probably add to the position today, if 30 holds. Not many though, maybe 50K. The next phase for this technically, is for 30 to now firm as support. Until that is proven the break is precarious due to the continued selling pressure I described in the thread. So, what I would like to see today is either a gap up, or 30 to be tested, buyers support it, and it head above 32.

But to be honest, I'm in no hurry, I've drained the cash to below my current acceptable levels due to some other opportunities, and I think we're in a bit of a generally negative down turn right now that could get worse depending on unanticipated bad news.

 

[mu5hu]

well 30c can't seem to hold today but it could stil head upwards this week. This week the market has had a negative sentiment so probably has reflected on the share price.

Lets hope it holds 25c support and makes 30c its next support hey?

did you mean 50k units or 50k in dollar amounts?

 

[Sean K]

Started impressively but did it's usual sell off during the day. Disappointing, not sure what to make of that behaviour. I'll be happy too if .25 continues as support and the diagonal uptrend is also respected. Come on STB! break the 30 cent hoodoo!! LOL. Meant 50K units.

 

[Sean K]

Bought this off the chart at 1.35 with a target of about 1.70. Sold 1.68 this am for 24%.

Will probably keep running to the moon now..LOL

 

[Sean K]

Sold this am at .33, bought at ave .255, for a 29% profit.

Getting bored.

 

[mu5hu]

Those are good percentages in my books by then again looking at your stats, 25-29% is like short change hahaha
but nice work

i wanted to get into GBG but i got stingy and onli put in a price at 1.355 wen it opened at 1.40 and rocketed
SIGH

nice work tho

 

[Sean K]

I sold GBG and ROY yesterday as planned.

GBG was simply a chart trade, not sure fundamentally where it could go. I might look at it in more detail, but I'm more interested in small caps at the moment searching for the alusive multibagger.

As far as the other stocks go, I'm still holding LGL and NCM effectively as a hedge to the current financial crisis. If it gets any worse I'd expect gold to be supported and these two hold up OK. On the other hand, could gold have peaked?

AZM is progressing well, I'm just waiting for it to be rerated for it's gold value. I'm waiting on results and chart action to make a decision of buy/sell plans.

MAKO has been shot to pieces recently. I'm converting the oppies to heads next week. I think this is just a correction for MAK and once it firms up plans for Wonarah etc, it should have an MC around the $1b as a rough pluck, pending RP prices.

I've taken up the full entitelment to RER, but will probably sell them to clear the decks. I think I was pissed when I bought them.

No change in my thoughts on the others.

I haven't got my eye on buying anything else at the minute, except a few more STB on a clear break through 30.

I've added another chart here with my closed trades so overall P&L is recorded.

 

[Sean K]

Can't believe I've done this, but I've bought a few KMN this am as they hit what I think is their 'bottom'.

More like catching a falling knife.

Just bought 50K, because it could go to zero. Will add, if there's a bottom confirmed. Or jump ship if it breaks 20.

 

[Sean K]

And it's been dumped by one seller like crazy. Think I'm going to stand aside again....