Positions updates

[Sean K]

I sold a few BFE last week to get back into some cash along with bits of other things but I am considering to top up on it again, with the recent purchases on market by the directors, and 18 looks like a possible floor.

Maybe.

GBG and ROY have been crucified and both approaching or at long term support at .90 and .20 respectively. Have bought and sold both these on and off and understand the companies. Both fundamentally look good, but the market has been overly cruel I think.

Looking at short term trades on them, pending market.

 

[Sean K]

And I'll add AZM to the top up list as well after the results this am.

Outstanding.

Shame gold tanked.

 

[Sean K]

Bought a few more AZM and BFE yesterday.

AZM results really were acceptional.

Looks like YT is on BFE too so hopefully the YT effect has an effect. lol

 

[Sean K]

I've followed RWD very closely since it was around $1.00 and was very close to taking a large position, but held off as I was concerned about market conditions at the time.

I'm still concerned, but RWD has come off from a $2.30 ish peak to fall dramatically (like MAK) back to where I was going to enter.

So, I'm looking at it again. MC is at a point where if it was actually producing now, would have a pe of about 3. And it looks like it will get to mining.

Agricultural products are the go. It might take time to realize gains in this, but I'm going to start picking some up for long term horizon (5 years).

That's my opinion at the moment anyway.

Will probably change after the next financial shock.

 

[Sean K]

Depth is concerning.

Looks really odd actually.

No buying support.

Maybe stale holders and the Bear creating it. No one has $$ left to invest perhaps.

Could be a good opportunity, or a Bear Trap!

Still watching to see some direction.

eeeek.

 

[Sean K]

Bought some GBG at 96.

Stop .88 ish.

Target about $1.15, at the next resistance.

 

[Sean K]

LOL, I've had a bear attack and decided to sell GBG this am at $1.00 for a massive 4% gain, less tax.

So much negativity.

 

[Sean K]

And, day high 1.09 so far.

Missed 9% in a couple of hours.

Guttsy kennas.

What was the 'plan'?

 

[Sean K]

Gold getting smashed, and I think it'll find support soon.

US is still a basket case, and housing hasn't finished going down. Not sure exactly how much is factored in. Oil correcting but I think will steady soon, after coming out of the bubble.

NCM off 6%, good chance for me to add some.

Unless of course, the US has bottomed and all the bad news is overfactored in and gold goes back to $200.

 

[Miner]

Hi Sean

Have you lately followed CGX and what do you think ?
The ball mills arrived, SAG mill is on transport, construction is two weeks ahead of schedule, increased royalty and lower profitability.

The price has come down much below than the price they raised fund only few months ago. Would the market be surprised by some good result of grade or in general better construction further ?

What is your thought on this ?

 

[Sean K]

I haven't really been following lately. Just went through their last few anns and it's looking good, but haven't really done enough research to comment on it's current value. Need to look further.

 

[Sean K]

And it did halt at that resistance and made it's way all the way back to 12 with the ongoing correcion and POG weakness. Such a shame this isn't going through this stage of progress with a booming market. Would be flying.

Has recovered since Macquarie has taken a 13% stake which is good and bad. Means they have some more money and have got good insto support, but a takeover will be a little less likely.

Recovered back up to .175 now with a few decent orders in.

I'm holding too many....

 

[Sean K]

Just holding on to support zone around 1.25.

Seems all poo stocks have had a bad trot since the correction from 6000. A general flight to cash.

STB also way off after breaking .25 support.

Still holding off for some direction. Perhaps the Martu getting their act together and signing the mining agreement will help RWD.

If they can get to mining will be a great stock.

 

[Sean K]

Crikey! We'll be able to look back on this in 10 years and say, 'I remember the 07/08 credit crunch that destroyed the housing markets around the world, and put the world economy into a bear market'.

Traded GBG for a 4% gain. Waste of time really.

Sold a few MAK at 1.60 to get some more cash in the bank and wait for it to turn around.

Sold all STB for a nice profit.

Bought a few more BFE, but it's going crappo. Still way undervalued on a peer comparison and I trust that it will be rerated once it starts moving forward with resource definition. Not selling on technicals with this as I believe it's so fundamentally undervalued.

DMM just holding as above.

Bought more AZM on their last drilling update ann at .165. It then managed to find it's way back to .12 and I was thinking, 'nice work Sean'. Goose. Anyway, Macquarie just taken 13% of the company, and it's still way undervalued. The Bepkong JORC should give it a great boost and I will probably take some profits on the JORC ann.

Topped up a just a few NCM. POG is starting to look tasty again and should consolidate around these levels for the next leg up. Will be going long on the unerlying also when I see the break up.

Sold all KMN for a good profit.

LGL, hitting LONG term support at $2.75, and I might add a few there.

BMN, Wooof! Delays, delays, miscommunication, giving me the sheets!! If they don't get 100m lbs out in the final resource it will be smashed. I have my fingers crossed. Major risk is the Savanna litigation, that could decimate the stock. On the other hand, if it's squashed, will probably fly.

Overall, I think the market has the potential to consolidate around the 4800 level and we might see a decent rally. Long term we're seeing some great value emerging. Lots of the pain is factored in, pending how badly the inevitable Australian housing correction/bust takes shape.

Have my model portfolio ready to go, and have the cash to run with it, and will do it in the margin account to draw on the excess equity for when it all turns around. Might be some time though.

Also waiting for the seasonal run in POG to occur in August some time.

I haven't been including my CFD account money and IG markets trading account cash in the overall picture here. There's not much in either as I diverted most cash in to an interest bearing account when the crunch really hit earlier in the year. Might be time to start reducing cash completely soon and being more fully invested.

Not invested in any stocks with the CFD and just daytrade with it. No open positions in the IG account.

Looking at:

Probably topping up a few NCM or LGL is gold breaks up.

Selling a few AZM on JORC ann sometime this month, depending on what it actually is and market response.

Watching MAK for break up to add some more, maybe.

RWD for break up. Probably will once the Martu finally sign off on the mining agreement.

On top of this, I'm living in hotels for the next 3 months so I'm just on the notebook. Life's tough without the big screen....

 

[Sean K]

Topped up a few LGL on what looks to be an overdone sell off. No reason for it that we should be aware of, just panick, and a long term opportunity to top up IMO. I hope.

 

[Sean K]

BMN are going to be in the crapper if this amended motion gets up.

I had to send this letter to them:

Dear Bannerman,

I'd like to express my disappointment at your continuous disclosure of events surrounding the High Court Motion.

As you would be no doubt aware this issue is of significant concern to shareholders and the general market, and you have failed to keep the market up to date with ongoing events.

Specifically, I note in your latest quarterly that several documents have been processed, and most concerning, Savanna have submitted an amended motion to include a claim that the MME was ‘functus officio’, in effect claiming that the Minister did not have the power to grant EPL3345. This occurred on 14 April. Why was the market not made aware of this, or others actions occurring on 30 May and 30 June?

While I am a small shareholder, if the claim is upheld (especially in relation to the amended motion) you have not provided me with adequate notice as to the general operations of the company that may affect its future earnings, or even functioning.

I do not expect any response, or explanation, but you are surely leaving yourself open to question, if events unfold in the wrong direction.

Yours sincerely,
kennas

 

[JTLP]

Kennas...today is my birthday! =D

You think I would have come home to some bloody ripper announcements???

All i gots is a lady overseas and a backpack full of broken dreams!

All the best son

 

[Miner]

Happy Birth Day JTC and Many Happy Returns of the Day

Today is also the day I joined the workforce finishing my first uni course

Take care and all the best

Regards

HI Kennas

Please do not mind to use your blog space to post JTC a mail

 

[Sean K]

No worries miner!

Happy birthday JTC.

Hope you can remember last night!!

 

[JTLP]

Wow...what happened on the weekend.......

Thanks for the wishes Kennas + Miner...was a very good day!

Miner what did you complete your degree in? And what sort of job did you get? Congratulations on these achievements!

This market sucks...my money feels so dirty.

Kennas are you still looking to withdraw all funds at the right time?