Australian (ASX) Stock Market Forum

SRK - Strike Resources

Jump to new
Check out yesterdays news - announcement.

Sellers are now starting to get very thin and I think this stock will move quickly again, so I think time to get in now while its around mid 70's to low 80's if you can. Has good fundamental backing based on recent news.

I just wish I picked it for the stock tip comp again!
 
SRK has dipped back to low 70's with a couple of sellers. Then there is a big sell gap to high 80's to $1. I would think this presents a good buying opportunity right now as fast movement is a high possibility.
 
hey nicks,
do you think that SRK is still a good buy at current levels? seems like it has a lot of potential to me

cheers
 
hey imajica

Well im still holding, I think you cant go wrong. Its all about future supply and demand, and they will actually be able to supply in the future as they are beyond just prospecting and potential (see news... locally and in Peru).
So, IMO yesy I believe this stock can go higher, especially once they start reporting on commercial operations and production.

I first posted on this when it was in the 0.30's, as I did with AVO. So im guessing im ok at picking stocks with good value potential. Id still invest in both, I use fundamental backing and general global environment trends in my selections.
 
This ones's dropping like a lead balloon.....Buyers thinning out...Could go as low as $1.25.

Royce
 
Hello all, first post here from somebody fairly new to the whole trading business. If there is anyone out there with an interest in Strike Resources I would be interested to hear from you.

I believe this stock still has good potential for growth and will gather increasing interest with the possible up coming float of a spin off company dealing with its Australian Uranium interests.

Look forward to any comments. :band
 
simonb said:
Hello all, first post here from somebody fairly new to the whole trading business. If there is anyone out there with an interest in Strike Resources I would be interested to hear from you.

I believe this stock still has good potential for growth and will gather increasing interest with the possible up coming float of a spin off company dealing with its Australian Uranium interests.

Look forward to any comments. :band
Click to expand...
It's had a great year Simon. Do you own it already? Consolidating ok around $1.50, although decending triangle is concerning. Would be even more concerned on a drop below $1.30 ish.

The uranium spin off looks interesting. I suppose existing holders will get a priority in the IPO which could list well. The tennaments they have look ok, but no known mineralisation from what I've read. The NT ones look good. The ann on how this is going to be conducted should be out soon.

Market cap about $100m for? Must be just based on the Iron Ore in Cuzco and potential yellow stuff? Is that a bit steep?
 

Attachments

  • SRK.gif
    SRK.gif
    24.7 KB · Views: 170
It has had a fantastic year. Unfortunately I have only just bought recently (unfortunately because I missed the boat on the early gains - not because I own the stock now ! :) )

My research on this one is a bit limited, although I do put a lot of value in their competent (ex RIO) Directors and the prospects in Peru and diversified interests in Aus.

I must add that the chance of getting first dibbs on any upcoming uranium float was a major consideration. I have also heard that there is likely to be more drilling results forthcoming in the near future which should be positive.

Sitting on a very small portfolio at the moment of this and MGX. Just getting started :cool:
 
Hey guys,

Dont know if anyone is still following this one.

I bought a small package this morning after doing some research.

I particluarly liked the fact that their Bigyrli tenements which they are intending to spin off with other uranium tenements are adjacent to Energy Metals

I also noticed that One of the directors bought 100,000 at market ($1.56) recently.

http://imagesignal.comsec.com.au/asxdata/20070104/pdf/00683201.pdf

Might be one to watchlist.
 
Comparing this from the chart above it would suggest that it might be on the move up. Higher highs and lows are always a good sign for a breakout from a consolidation period. Remember, TA is just probabilities. Like broker research. :) Plus, would be easy to draw the descending line so it looks like it's another low high.......

(not holding)
 

Attachments

  • SRK.gif
    SRK.gif
    24.7 KB · Views: 140
Hi Kennas,

Thanks for the chart.

Only bought a small amount of these

So happy to sit for a while...at least till the details of the uranium spinoff are posted.

Hopefully not too long.
 
I love this company. I picked up 5000 SRKO @ 1 cent, only paid $50. Today that $50 is worth over $7000!
Nonetheless I am still very confident with Strike and believe it will have another good year.
SRK has a substancial amount of Iron ore in Peru, after reading the companies annoucement on the 7th December 06 I bought a whole heap more. The amount and quality of iron ore held in Peru by SRK, competes with that of world class iron ore miners.
I believe this company has great potential..
Cheers
 
wow maite - what a fantastic pickup, filled with envy at the percentage gain from that one! Would make Cudeco blush =)

just out of interest, what are the iron ore assets like at Peru?
 
Have a look at http://www.asx.com.au/asxpdf/20061207/pdf/31007rlqrz7b90.pdf

SRK has secured the rights to a potential 1.2billion tonnes high grade (60% +FE) iron ore resources across two areas (Apurimac and Cuzco). With Chinas huge increase in demand for iron ore, SRK is planning to visit 7 Chinese steel mills this month to hopefully secure some future buyers of this iron ore.

Looking at page 15 of the above article, SRK appears to have the 5th largest high grade iron ore resources in the world!

Hence the reasons I remain confident with my hold in SRK.

Cheers
 
Hi Simonb,

See announcement Nov 28th 2006 (sorry cannot post comsec locks me out when I try to review announcements)re: intention to spinoff uranium assets

Details and date of spinoff yet to be announced.
 
Uranium spin off was suppose to happen in December, probably going to happen sometime this month.
To have rights to buy the new uranium company at the IPO I gather you have to have a shareholding in SRK.
Price went up nicely today...
 

Similar threads

basilio
How valuable are two parent families?
2
Replies
28
Views
3K
Value Collector
Value Collector
basilio
Ozempic: Magic Pill or Devils Bargain?
Replies
10
Views
1K
sptrawler
sptrawler
JohnDe
Market response to the Election outcome
2 3 4
Replies
67
Views
9K
Telamelo
T
Dona Ferentes
AEAE - Australian Ethical High Conviction Fund ETF
Replies
2
Views
2K
Garpal Gumnut
Garpal Gumnut
over9k
Basic chart analysis/chart reading 101 for beginners
Replies
10
Views
4K
Gunnerguy
G
Top