Australian (ASX) Stock Market Forum

SRL - Sunrise Energy Metals

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greggles said:
Clean TeQ sold down on heavy volume over the last couple of days after releasing their Definitive Feasibility Study yesterday.

I haven't gone through the DFS in any detail. Does anyone have any insights into what caused the sell off?

The CLQ share price is currently at 83c and has fallen through all support dating back to August 2017 when 85c served as resistance.

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I was not following CLQ for a while and will read DFS report in details and provide an update.
What I do know however CLQ appointed excellent engineering staff as well some real expert from Canada with whom I have worked in other part of world. The funder Robert is a shrewd one. But 12.5% drop must be something below market thing which hopefully will be revealed with a flagging notice from ASX tomorrow.
I am watching and not committed . Last commitment was at penny value and could not hold once it went up like hot balloon only to be seen the price rising .
BTW - what is your chart saying ?
 
Faramir said:
@Wysiwyg Do you still hold?
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Sold on the DFS release for a small loss. That company was way over valued for this stage of its development. Rob Friedland is well known in the mining sector so CLQ gets some following. Offtake partners and project funding are the two main news releases this next six months.
 
The reason the stock came off was the increase in capex, pre-production estimate is now 1.33b ex 165m contingency. This compared to the pre-feasibility study completed in 2016 of 784m is pretty significant.
 
Interested but staying out for now. Still a lot of capital to get their hands on and a larger project. I can handle bigger mining - but bigger processing usually is a cost blowout. On a quick glance two things I picked up:Significant rise ($1.70) in nickel C1 cost pre-credits from the PFS and LT $30 cobalt price assumption is silly at this stage.
 
I like to choose this stock for the tipping competition.
Sorry that I cannot post a graph. I am using a very old iPad. Maybe tomorrow if I get a chance to go to my computer????
A low of $0.43 on Tues 18 Sept. It closed at $0.53 today. (Albeit low volume.)
This stock has been smashed over the past two months.
Cobalt is out of favour. Their Water division is not doing much. This recent rise must mean something is brewing????
 
Faramir said:
It closed at $0.53 today. (Albeit low volume.)
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Oops, it closed $0.555. It was smashed over the past three months - not two months. Robert Friedland is making a big bet. The world needs to buy Cobalt from Australia first. Cobalt from Congo (DRC) is mined by children. Whether this sentiment influences the share price???
 
CLQ has gone through an interesting phase. Today it closed at 7.23% higher with more than 1.76 million shares transacted equalling almost sum of last five days transactions. On 20 Dec there was a very encouraging announcement as well.
I have been a holder long back when it was below double digit and sold out with massive profit not realising holding for another year, would have paid my debts :).
Any way re-entred today as a hunch (assessing all technicalities are in place) at just under 45 cents with a hope not to have a panic sale in next few days.
My metallurgist friends already sounded this is a solid project from their perspectives as a metallurgical project.
Good luck to all holders.
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Today CLQ shares shot up by 12.36% and 2.44 million shares transacted . Interesting events? No notice was issued so far. Still holding a small parcel bought only a couple of days back.
Will watch on Friday.
Anyone could throw more light?
 
I have followed CLQ but then lost interest for many reasons.
One of them their difficulty to retain staff as they were frustrated and did not find the company had enough fund to keep going. Important recruitments were on hold. For a growing organisation, why would you let the good staff go or to hold recruitment?
I bumped into an old mate in the CBD yesterday. He was sad like anything because per him, the company needs more fund to keep floating.
So I suspect the partnership process will bring some fresh lease of life.
I looked back February report
https://www.asx.com.au/asxpdf/20190222/pdf/442vn2zxct48rk.pdf
If I am increasing revenue by more than 275% then why my profit has gone down. That creates a big gap which apparently was not fulfiled by an economy of scale. I always thought CLQ is a robust investment - but ??
DNH and restarted watching CLQ and researching to prove my superficial observation to be wrong.
 
One aspect that I don't like with CLQ and many others on the ASX is that they are involved in two major projects. CLQ wants to develop a world class NI,Co,Sc project (for batteries) and at the same time develop clean water technology.

Their marketing states that they want to unlock significant value for everyone involved. If there's not enough funds, then both projects will suffer (like the share price).

Perhaps their new partners in the NiCOSc project will allow them to focus on the water tech. Not interested until the share price starts trending up not down.
 
Well we can tick Tuesday off as a good day. Another 10% day with really good volume.

My target has been reached and will be interesting to see if it can keep up the momentum to 50 cents without any news.

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Sunrise is a big low grade Laterite deposit, there is a reason no one has developed this - the world is awash with low grade Lateritic nickel ore deposits, most have been mothballed due to low prices.
 
My second choice for 2020 Tipping Comp. The dark horse is its Water Technology. The past two years have been shocking! The main driver will be the announcement of Sunrise Project - its funding. The world wants ethical cobalt for its EV batteries.
 
Faramir said:
My second choice for 2020 Tipping Comp. The dark horse is its Water Technology. The past two years have been shocking! The main driver will be the announcement of Sunrise Project - its funding. The world wants ethical cobalt for its EV batteries.
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But the world wont pay more for ethical cobalt! Looks like we are still waiting on another quarter for a finalised project plan. Should spin off the h2o tech as sunrise is weighing this down. Cant see this recovering soon.
 

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