This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

SPX - Spectrum Metals

Jump to new
On September 26th, 2018, Spectrum Rare Earths Limited changed its name to Spectrum Metals Limited.
 
"SPECTRUM METALS LIMITEDSecurity Code: SPXPause in TradingTrading in the securities of the entity will be temporarily paused pending a further announcement. "

sellers came at .013's .....and the halt hits ....time for a spike
 
Well I have picked this for April's comp but its going berserk too soon maybe. Gold stock are just so so atm, but SPX is getting great assay results, just out of a trading halt with the latest and on she goes.

 
Assay results announced this morning from a further three holes from recent drilling at Penny North. The high grade intercepts just keep on coming:



SPX up another 24% to 3.1c following this morning's news. What a great run it's had this month.
 

on track to tackle highest volume on the 21st march 133MM .....will be interesting to see if the volume supports a break-away today (it's hard to call that due to SPA) ..so now we have a "gap-up" of sorts again difficult to call that based on the spa but if the volume make-up shows more at the offer then we may have a fomo train leaving the station ......mebbe ....not usually this busy in the que at this time of the day and we have the weekend leisure readers to come monday....

sample
 

Attachments

  • ii spx 290319.png
    466.1 KB · Views: 162
Some rich looking veins up there! Penny North may emulate Penny West ….. Enough pennies and it could turn into dollars
 
exploding away ....pun intended, major holder wants 40MM more loans $AUD1MM = belief in further finds
 
@explod
your weekend reading
https://thewest.com.au/business/pub...ne-for-spectrum-at-penny-north-ng-b881151605z

excerpts

" Spectrum Metals has intersected more than 3 ounces to the tonne in recent drilling undertaken at its emerging Penny North prospect located 25km south from the Youanmi mining centre in the Murchison district of Western Australia.

The new intercept of 4 metres grading 105.2g/t gold from 151m down-hole, includes a metre at an eye-popping 292.8g/t gold from 153m.

The result is even more impressive as it lies 20m down-dip from last week’s reported result of 4m @ 35.2g/t gold.

The company looks like it’s on to something substantial here and although deep, the discovery has all the makings of a new high-grade, plunging ore shoot north of the historical Penny West open pit.

Spectrum also intersected narrower intervals of 2m @ 19.7g/t gold from 115m down-hole and 1m @ 10.8g/t gold from 154m down-hole on drill sections 20m south and north respectively of this week’s, thick bonanza grade intersection.

Managing Director Paul Adams said: “The intersection of 4m at 105.2 g/t gold in hole SPWRC022 is the highest grade intersection yet seen in our program at Penny North and lies down dip of 4m at 35.2 g/t. At this location, the lode is exhibiting a very strong tenor and builds on our knowledge base of the distribution of high-grade within the lode structure.”

Additional holes have been completed adjacent to the newly defined ore position at Penny North and assays are pending.
Spectrum also recently unearthed multiple, high priority regional drilling targets from an auger geochemical sampling program at Penny West project, particularly around the Magenta prospect, about 2km north of the open pit area.
The company has completed three shallower holes at Magenta and these assay results are pending."
--------------
https://smallcaps.com.au/spectrum-metals-finds-high-grade-gold-zone-historic-penny-west-project/
--------------
https://www.businessnews.com.au/article/Spectrum-hits-gold-paydirt-at-new-WA-project
--------------
https://stockhead.com.au/resources/...t-some-old-time-proper-paydirt-at-penny-west/
 
more consolidation today on the release, jittery retailers give in quick az

----------------------------
Spectrum Minerals (ASX: SPX) has hit a new zone of high grade gold in its southern-most hole below Penny West Pit, 25km south of the Youanmi mining center in WA. Significant intercepts include 5m at 28.9 g/t gold from 203m, which also boasts 1m at 103 g/t gold from 203m, and within 31m at 5.5 g/t gold from 203m.

The “unusually thick” intersection occurs at Spectrum’s deepest hole yet, and it says it “may represent a new zone of structural thickening to the south and at depth, giving Spectrum a “large new target for further drilling”.

https://stockhead.com.au/resources/...aterson-province-ground-it-beat-rio-tinto-to/
 

Often the thick nuggetty "discoveries" can be a flash in the pan, but give the history of "Penny" this looks really interesting …. and the current price action agrees ….. Don't hold, but if I did I would be sitting tight
 
with the extra scrip avail at auction at .24 that's clogged up the auction, despite the good annoc today, price will struggle until all the weak money gets out of the way
the cue is now balanced reflecting the tussle (versus a 3>1 bid/offer ratio a few sessions ago)

chart looks constructive daily basis so a close in the .28/.31 range today would support the idea a few deep pockets are supporting price and once the glut is washed out price can make ascension esp once gold (in usd's) returns to uptrend

(extra scrip sold to sophs will likely unload into a spike to get their % fill, sophs dont usually get trapped so we should expect a spike at least)
 

Agree 100% Joules …..


 
and back to the issue price at .24 - how unusual
-----------------------------------------------------

What Kind Of Shareholder Owns Most Spectrum Metals Limited (ASX:SPX) Stock?
Simply Wall St January 9, 2019
The big shareholder groups in Spectrum Metals Limited (ASX:SPX) have power over the company. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. I generally like to see some degree of insider ownership, even if only a little. As Nassim Nicholas Taleb said, ‘Don’t tell me what you think, tell me what you have in your portfolio.’

Spectrum Metals is not a large company by global standards. It has a market capitalization of AU$5.3m, which means it wouldn’t have the attention of many institutional investors. Our analysis of the ownership of the company, below, shows that institutions own shares in the company. Let’s take a closer look to see what the different types of shareholder can tell us about SPX.


What Does The Institutional Ownership Tell Us About Spectrum Metals?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it’s included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.

Spectrum Metals already has institutions on the share registry. Indeed, they own 8.1% of the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Spectrum Metals, (below). Of course, keep in mind that there are other factors to consider, too.
https://simplywall.st/stocks/au/mat...ns-most-spectrum-metals-limited-asxspx-stock/
----------------------------------------------------------------------
 
explod said:
Good announcement overnight and we see a further drop.
Click to expand...

Looks a bit nasty at face value ….

Of course … If Penny is the real deal, it is simply "penny pinchers" screwing the short termers to the wall

My gut feel is the latter …. and I'm tempted to buy
 
On the flip side …. The market was rightly spooked at the narrow/insignificant intercepts ….

It is a Spec … and it is still a punt
 
You must log in or register to reply here.

Similar threads

VEC - Vector Resources
2
Replies
34
Views
11K
The Triangle
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...