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RHK - Red Hawk Mining

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Flinders mines is divesting its non ferrous arm of the co. Flinders exploration (FEX) which is due to list on the ASX next week, 9th Dec.

As FMS has flatlined around the 13-14c range for months, I`m curious as to what others think on how FMS price will alter. My personal belief is the sp may get a bit of a wriggle on as it would no longer be burdened by the diamond exploration side of things. Any ideas?
 
Although it came out 2/12/2010, Foster Stockbroking had a Buy of 0.135c and a target of 0.23c. They have written in their report that FMS is trading on an EV/Tonne ratio of just 0.27c/tonne versus a peer group av of 0.96c/tonne, which gives a valuation of over 0.50c/share.

I believe Euroz and Petra Capital also have reports on FMS but have no access to them.

http://www.fostock.com.au/talkingpoint/FMS101202.pdf
 
Hi Buckfont,

Thanks for price per share data. That saves me asking, guessing or attempting to calculate!

Hi Tech/A,

I note from earlier posting that you've been onto these for a while!

Is it appropriate to say "Toot, toot!"?

In my haste, I missed the Media Report on ASX:

http://www.asx.com.au/asxpdf/20110118/pdf/41w7b74qm9dmvf.pdf

burglar
 
Hey burglar, beat you to it on that last link of yours, see post 463 above.

Nice payday today.
 
Unfortunately many trades who are not experienced in reading volume INCORRECTLY assume massive volume is a sign of strength.

When price appraoches an old high as this is lower volume is preferred.

Extreme volume means supply is present---if it was that cheap why would so many be happy to sell?

The key is 2 critical points.
(1) What happens tommorow---if price falls then sure as hell todays euphoria will be short lived.
(2) If price continues to rise and BURSTS through resistance at 20c with either a gap or a wide range high volume day---Ill then join the crowd---not before.

I have a feeling this may well end in tears.
 
tech/a said:
... I have a feeling this may well end in tears.
Click to expand...
tech/a,

Hear what your saying ... I'm having some trouble, tweaking an exit strategy!
I don't have access to trailing stop loss with Netwealth.

I associate this burst in volume as a sign of interest after languishing.
The volume has tapered dramatically through the afternoon.
Waiting for happy buyers, not happy sellers.
 
If it was me I would be waiting to see a jump past the high of the day in the morning if it trades back to the high of today then Id be out.
I would have a re entry at the high of tomorrow (initially.)
If it never trades back to the high of today then Id hold it.
If it doesn't trade tomorrow past the high of today then my stop would be 18c
With the re entry to be decided over a couple of days trading.

You want to be selling into enthusiastic buyers not selling into panicking sellers.!
The whole idea is to maximise gain---not watch as it craps itself.

But if it does hold well above resistance then we need to re evaluate.

I hope all do well from their patience.
Maybe not my style but hey a profit is excellent.
 
tech/a said:
So is everyone STILL excited?
Click to expand...

I have 2 in the proverbial "bottom drawer".
2 losing a little, 1 level-pegging and
one only, in the green.

This is the third time in a decade that I thought,
I had totally destroyed my portfolio.

"Tears of Joy" mate, "Tears of Joy"!

PS I owe it to tech/a, Mr Kennas and ASF for helping me out of the ****
 
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