Positions updates

[Sean K]

Did spike up to 55 and I took the oportunity to take some profits. Ended up even for the day. I'd expect 40-45 ish to be support now and all things being equal, I'll be looking at topping back up on weakness. This still looks comparitively cheap with potential 30 - 100 Mt fe (HLX rights) in the AQA JV dirt.

Locking in profits now is just being prudent. Trying not to let greed overwhelm me....

Still holding quite a packet.

 

[Sean K]

Reviewing this and while $3.50 might be support, looks better back between $3.00-3.25. Any market weekeness may take it back there, but at the moment is still nicely trending up. With TSX listing and updated JORC approaching, it should maintain support. Broker valuations are somewhere between $4.50-$5.50 ish, so still plenty of upside.

Reviewing the chart, looks like a good set up for another break up, all things being equal..

Chart above is the revised chart as at 10 Nov. Can't put it under here....

 

[Sean K]

Reviewing the chart, looks like a good set up for another break up, all things being equal..

Good pick kennas. Back at $3.50 ish. LOL

 

[Mirage2003]

Hi, Kennas

I love oxr very much, but I sold it today at 4.23. At the end of the trading hour, I really wanted to buy it again at 4.04, but I hesitated. I am afraid I will miss its bullish performance, but the fundamentals look quite gloomy. I am still struggling on whether to buy back or not. Can you share your thought with me? Thank you.

Best regards

Mirage

 

[Sean K]

Hi Mirage, I'm actually having second thoughts on OXR. I was anticipating the fallout from the BHP/RIO thing to provide more support than it has. I might drop out of it myself now as gold looks to going through it's correction finally. Support is at $790 ish and $760 ish for mine. Maybe back in then. Will see what unfolds overnight and tomorrow morning..

 

[Sean K]

CUL dropping out of the zone. Looks like the set ups failed.

12 Nov chart attached above.

 

[Sean K]

CBH has underperformed the past year due to problems at Endeavour, which has subsequently come back to full production, but I think the market hasn't come around to understand they're back on deck.

Market consenses 12 month targets range between 80c and $1.00, which were promulgated around Christmas last year. Sitting now at about 57 cents it looks like a monty for a 20% gain in the next few months.

One thing NOT factored into anyone's valuations is exploration at Constance Range which BHP had a non JORC resource of 250Mt at 52% fe. I think CBH are drilling as we speak to take it to JORC and any good ann from this might be the impetus to allow it to run.

Chart wise, it's consolidated really well above 50 cents support, and looks to be forming a descending triangle which if breaks up, could take it to 80 cents and what is resistance.

Not holding yet, but almost.

 

[Sean K]

Bought a few more this morn, ave $3.50.

 

[Mirage2003]

Thanks, Kennas

I will keep watching it, and pick some good position to top up again.

Regards

Mirage

 

[Mirage2003]

bmn performs very well today

 

[Sean K]

Good support around 45 developing, on reduced volume once again, which paints a good picture. Wedge forming in an upward trend, which should lead to break up...

 

[Sean K]

I've been waiting for months for this to break up and it's boring me to tears now.

The Puffin mis/dis/puff/information is not want I want to hear from a company.

They may have other projects but have been running on the puffin upside IMO.

Out until there's some clarity.

 

[Sean K]

Sold OXR.

Not responding to the BHP hype.

Looking for something else to park some $$.

 

[doctorj]

I agree that increased watercut/reduced flow rate at Puffin is worrying. Not sure why, or if punters can expect a 3x increase in production. Also, I'm not sure what it means for the profitability of the project if they can't increase production.

Don't write off NWE just yet though. Its worth keeping an eye on for their North Sea drilling.

 

[Sean K]

Since last update:

BMN - Bought a few more around $3.50. Might be too heavy on these now.
EXM - steady, will add on clear break through 4.
HLX - Sold 1/3 at .535, thinking about buying more since it's held up so well.
JMS - Added ave .25
KMN - Grrrrrr, whooof, grrrrooof!
LGL - Steady
NCM - Steady, might add to this on likely correction.
NWE - Sold all for 10% profit.
OXR - Bought and sold for 3% loss.

Watching CBH for break through 60/65. Or, may just stick to trying to find a decent spec...

 

[Sean K]

Looks like wave C down now, could find itself to 760. Hopefully not a 5 wave down...

 

[Sean K]

I bought some JMS thinking the current fe hype will spill over to it in the short term while Brockman's being drilled.

Their other fe projects also have some potential which has been overlooked. MC under $40m is a bit rude I think and I expect a re-rating to $50m ++ at which time I'mm take some off the table. Could run to $100m on a peer comparison as id in the thread.

 

[doctorj]

NWE getting smashed down to 23

 

[Sean K]

Made a bold decision this am and bought more BMN around $3.45 after the open.

Not sure why it was canned at the open, down 8% plus, but looked like an opportunity to me.

Theyll come out with bad news now.

 

[Sean K]

21 cents.

1030 [Dow Jones] AED Oil (AED.AU) continues to tumble in the wake of production disappointment at Puffin NE. Project has encountered water earlier than expected and initial production below expectations. AED now talking about production of 20,000 barrels a day being achievable, where previously had been expecting peak output of 30,000. AED stock has benefited from its sole focus on the Puffin oil project being a pure oil play with exposure to rising prices; now experiencing flipside of its total dependence on Puffin with any disappointment hitting shares. (APW)

Saved my arese a few $$$