QOL - Queensland Ores

[juw177]

Took profits at open today. The ann does not warrant a large increase in SP. The volume in the past days is also partly due to the new issues that will have a short term capping effect on the SP.

Looking to get back in if it gets back to support level.

 

[Snakey]

Congratulations to all who had saw this coming. Very nice Ann. and I think we will see this one grow long term. still cheap I think considering year high 44c and year low 12.5c It seems to have slipped under the radar a little.always good to see things happen on time.

 

[doogie_goes_off]

I'm guessing we'll see 26c on successful commisioning of all plant and a breakthrough on first sale of product but DYOR

 

[AnDy62]

Took profits at open today. The ann does not warrant a large increase in SP. The volume in the past days is also partly due to the new issues that will have a short term capping effect on the SP.

Looking to get back in if it gets back to support level.

I disagree. Sentiment is vital. The market being re-assured that this will be exporting in July, as a heavy sold stock, is IMO very important. There may be a scramble to pick it up in the interim. Up to 20.5c, beauty

 

[BenH]

Does anyone have a figure on what its worth once the first shipment is made and they are fully in production? what is a realistic expectation per share?

 

[Synergy]

I think the key to their SP into the second half of this year is their Mount Cannindah project. The start up of Wolfram is great news and should lift the SP further yet, but the real excitement will be more numbers from Cannindah. They'll have the capital to make a real push with more drilling now.

Once commissioning is complete at Wolfram, I expect their focus will be straight to Mt C. I haven't seen any timeframes but previous anns have suggest further resource updates throughout 2008. Currently they have drilled to 230m with drilling proposed to 330m on good results at lower levels.

 

[AnDy62]

Looks like another happy day, indicative price 21.5c. Good luck to those who hold! Important day IMO, whether we see profit taking and a move back down or a continuation up, signs are to the latter. I'm also wondering if the SPP is acting as a deterrent to sell stock, those 41666 shares are worth over $8k at the moment.

 

[jman2007]

Looks like another happy day, indicative price 21.5c. Good luck to those who hold! Important day IMO, whether we see profit taking and a move back down or a continuation up, signs are to the latter.

Nope,

not today anyway. I'd rather see QOL build up some support around 20c first before going too much higher. Need to build a solid base and allow some consolidation after the breakout from 13c. Fundamentally though, nothing has changed.

jman

 

[AnDy62]

Ann out last night re the EGM. SPP is to be done on a pro rata basis due to offer (almost certainly) being oversubscribed. I read on another forum that may equate to around 1 share for every 6-8 shares, up to the $5k worth. May not be good for the price ST. Let's hope I'm wrong again today :

 

[drizl1]

Anyone seen the latest announcement? Any views on how this may affect SP in the short? Doesnt seem to be any date on when production may start.

 

[blehgg]

Took profits at open today. The ann does not warrant a large increase in SP. The volume in the past days is also partly due to the new issues that will have a short term capping effect on the SP.

Looking to get back in if it gets back to support level.

Wow back to what I paid for it originally a few weeks back.

(Note - I no longer hold.. jumped ship during the peak...)

Watched it slowly slowly slump over the past couple of days...

Will be looking to jump back in if it dips any lower... watching... waiting...

 

[AnDy62]

Should be a good chance to get some cheap after the placement is put through. Probably a chance of 13c as it is a lot of shares coming on the market. Still, the price should get rolling once exporting starts in July with this annoying cap raising outta the way.

 

[AnDy62]

Wow back to what I paid for it originally a few weeks back.

(Note - I no longer hold.. jumped ship during the peak...)

Watched it slowly slowly slump over the past couple of days...

Will be looking to jump back in if it dips any lower... watching... waiting...

Did you get back in or am I the only holder here any more? Thread is deadly quiet.
SPP details came out on Friday, for those who were wondering, the record date was on Friday... wonder why the price went up today, I thought some people might have been getting out given they are eligible.

 

[prawn_86]

I still like the story, however management shafted holders big time with this placement.

I would have preffered a small isue to get them over the line, then develop Mt Cannindah etc from the profits.

To me, raising such a large amount indicates they dont plan to be profitable for a while, even with first shipping next month

 

[JTLP]

Maybe you have an agressive company director who plans on acquistions and more exploration/bigger production to make you profitable quicker?

Or maybe just likes to have lots of $$$ so the company looks good to investors who want to avoid debt in these hectic times?

Don't write them off too soon! I don't hold but QOL interest me

 

[Synergy]

I'm still holding and plan to take up any shares offered to me if the placement goes ahead. The key for me was the speed they got Wolfram into production, and their attitude towards keeping the market informed the whole way.

I have a feeling that Cannindah is probably going to be fast tracked, so they will want the funds for that. To me they just don't seem like the type of company to sit around and wait for things to happen and i'd rather they kick things into gear asap rather than wait for the cash to start flowing from wolfram, which could be several months.

Also, the 1st shipment from wolfram is a good short term milestone to look forward to.

Not entirely happy with the size of the placement, but I trust that the money will be well spent.

 

[Bushman]

Chairman's address today is compelling reading for anyone who holds or wants to hold QOL.
http://www.asx.com.au/asx/research/...panyName=&principalActivity=&industryGroup=NO

It is also an excellent case study of what it is like for junior explorers who are attempting to 'go it alone' in terms of getting a mine into production. Hard work.

But on the plus is investors are about to get the benefit of one of the few operating moly mines in Australia. So there should finally be cash inflow.

Chairman has been very honest about the solvency issues QOL still place until the placement is approved.

I cannot believe no-one has opened up another laboratory in Queensland to do the assays. It would be one hot business.

Good time to get on board might be post placement, pre first cash inflow from CITIC?

 

[jman2007]

Not really too much of an issue for investors if the SPP was oversubsribed, as QOL currently trading at 12c, somewhat of a surprise to see this fall through 13c and no sign of the selling pressure easing as yet. Beginning to hurt on this one a bit now...

jman

 

[prawn_86]

I agree Jman, not good.

im wondering if someone knows something we dont.

From a personal opinion do you see that the ore will be easy to process etc?? Could they be having problems with the commisioning or something?

I know mine life is an issue but im confident it will get upgraded

 

[nioka]

The main problem will come if the SP falls below the new offer price but the issue is underwritten to a certain extent. Production will commence and even if it is a little late it will still commence. Patience is always needed with new ventures like this one. I'm happy to hold. I'll take up the offer if I can't buy cheaper on the market. I'm happy to increase my holding.