TBA - Tombola Gold

[barney]

Some speccing on AMG today on modest Volume.

The 3D image from the recent MT survey has the Managing Director Matt Morgan pretty excited about what else they are likely to find around Burra.

The complete model is expected to be available before the AGM in November and the Company will be presenting the SA Exploration and Mining conference on December 7th.

If it shapes up the way the MD is expecting it could really give the SP a boost.

 

[barney]

Fairly tightly held this little fella ….. Both the Buy and Sell sides are very thin. A lot of the recent buying has come from off screen …..I just get the feeling something good is in the pipeline ….. I hold so I hope my prediction becomes a reality

 

[barney]

Bit of shenanigans with the DOM this morning ….. We have a punter who has now dropped around half a million shares at 5.9 cents on the Sell side.

To the naked eye it looks like they were trying to create some demand to sell into which is not as positive as I thought earlier

If the 5.9 stock gets taken out it may be just a one off but I suspect there may be a bit more Supply where that came from … we shall see what eventuates.

 

[barney]

Bit of shenanigans with the DOM this morning ….. but I suspect there may be a bit more Supply where that came from …

As it turned out there was a bit of selling but minimal Volume.

Announcement today on another healthy Gold drill result at their Mount Freda/Golden Mile complex.
Also had some Tungsten strikes in the drill results which would certainly enhance the drilling value if they continue. Currently trading at 0.052 cents

DRILL HOLE SH18RC008 Intersects: 28m @ 4.3g/t Au from 37m
DRILL HOLE SH18RC005 Intersects: 23m @2.0g/t Au from 102m

 

[newanimal]

guess the continued Dow sell-off is cancelling out any positive response in SP you'd expect from this string of great announcements one after another.

 

[barney]

guess the continued Dow sell-off is cancelling out any positive response in SP you'd expect from this string of great announcements one after another.

Yeah … I think its just the general vibe at the Spec end of the market …..

The Co have some nice Gold intercepts which look potentially positive … but the POG is still making up its mind …. and they have a lot more drilling to do on that front so more time required …

MD Matt Morgan is very upbeat about what they might find around the old Burra region with their new technology, but its still all very early days so the market will ebb and flow until something concrete pops up.

I like the fact that the MD put his hand in his pocket for another $26K worth of shares a couple of weeks ago ….. MD's are traditionally not great Traders .. so I assume he is looking down the track a little by accumulating a few more prior to the great results we will have soon

 

[barney]

AMG is my pick for this month's Stock Comp ….. The modelling done by the University of Adelaide around the old Burra area is showing positive signs with some similarities to Olympic Dam … Full Report expected before the November AGM.

 

[Anastasia]

Interesting development with attaining convertible notes to the value of $2.5 million to provide funding for their projects. I would think that in the next few months there will be lots of results out and the SP sky rocket. Certainly positioning themselves nicely with the bigger mining companies for a JV or take over.

 

[barney]

I would think that in the next few months there will be lots of results out and the SP sky rocket. Certainly positioning themselves nicely with the bigger mining companies for a JV or take over.

Management going on with business nicely …… That 5.9 cent level where some supply showed up the other day has been briefly revisited today so it will be interesting if the Sellers show up again ….. Otherwise very thin trading on both sides of the fence.

The AGM will be late in November I assume ….. the MD has been promoting the potential around the old Burra Monster Mine …… If the results are good and 6 cents gets breached it could move quickly.

 

[barney]

More good Gold hits in "The Golden Mile" area announced today …… Area looks very promising …

 

[newanimal]

.060 is breached. Maybe late Nov. will come early.

'The 4th historic gold mine"The Falcon" drilled on 2 km wide Golden Mile has returned high grade gold results from RC drilling. This is the 4th high grade historic working to undergo maiden drilling program b AMG that has intersected high grade gold.'

 

[barney]

.060 is breached. Maybe late Nov. will come early.

'The 4th historic gold mine"The Falcon" drilled on 2 km wide Golden Mile has returned high grade gold results from RC drilling. This is the 4th high grade historic working to undergo maiden drilling program b AMG that has intersected high grade gold.'

Maybe it will

Very thinly traded stock so still under the radar of the DT's … With a Market Cap of around $15 million it still has a lot of headroom to move if they keep getting good results. Happy to be holding at the moment.

 

[barney]

AMG again announced more good Gold results today and are shaping up as a serious player of the future if the ducks align over the next year or two ……. Management are switched on and confident and in the Spec space that is critical ….

Presentation announcement yesterday 14th Nov is a must see for Spec followers ….. Hopefully link works.


You can access the video presentation here. ( )

Fundamentals are improving and the Chart appears to following suit

 

[barney]

AMG announced on 19th Nov that they are to drill a couple of Diamond drill holes looking for a potential Tier 1 IOCG at Mt Freda, Cloncurry … The initial target was discovered by Exco Resources back in 2012

AMG apparently share 30% of the tenement target with Newcrest Mining ….

Totally normal for Junior's to blow their trumpet when digging around land owned by Majors …

However Newcrest backed up this trumpet blowing by announcing the same information …. This seems to give a bit more credibility to AMG's claims that the land is very prospective and gives rise to some speculation that Newcrest may have more than just a close eye on AMG ….. interesting

 

[barney]

Firstly ….. I do hold AMG … and I hold a reasonable amount, so my bias should be noted

Trading Halt announced today ….

At first glance I expected it to be a Cap Raise so was very happy when it was in relation to drilling results from what I expect are "Little Duke" assays ….

From their recent ann on 23rd Nov ….. My BOLDS

ASX RELEASE

Ausmex RC Drilling intersects a 70 m Graphitic Black Shale shear zone with visible sulphides adjacent to the massive Tier 1 IOCG “Canteen” prospect Ausmex shares with Newcrest Mining Limited.

• RC drilling intersected a significant 70 m continuous graphitic black shale shear zone containing interbedded quartz veining and visible sulphides below the Little Duke gold mine.

• Geological field work surrounding the Little Duke mine has identified additional gossan rich surface outcrop with gold grades of up to 35.4 g/ t Au, possible southern extensions to the Little Duke mineralisation.

• The Graphitic Black Shale shear zone has the potential to host significant copper, gold and cobalt mineralisation radiating from the massive Tier 1 IOCG prospect shared with Newcrest Mining Limited.


So ….. I know AMG management are Bullish on their tenements … but I also know they are a Junior and slightly embellishing the facts is standard procedure if you are going to create some hype around your Company (not complaining though)

My initial thoughts on their to be announced drilling results are …. they will show a lot of potential …

If they actually show some genuine substance, I expect the SP to bounce heavily ….

My preference is for substance obviously …… I have had a few "doggie" buys in recent times so a "substance" report could ease my short term pain ….. I live in hope

As a Punter … I expect some high grade Gold assays from the awaited announcement … Anything better will be a bonus!!

 

[Trav.]

@barney fingers crossed you get a good announcement and she goes for a little run.

Question for you - Do you have a strategy in place to capture some profits if she gaps up? eg. take half of holding of the table on first day (hopefully we are talking profit here) and then let the rest run with a trailing stop?

The reason I ask is that I am still working on this part of my plan and for example I was watching IVZ go for a run on the 5/11 after a positive announcement and I would have thought that a new support level was being set and then build on that leading up to the next announcement. But now if you check its share price you will find that it is trading lower than when it went into trading halt.

I would appreciate any thoughts you have as I mentioned before I am always looking to improve trading plans as I have failed to sell on a couple of times and do not want to make the same mistakes over and over.

Good luck mate.

Trav

 

[barney]

Thanks for the best wishes Trav ….. Its been going well and I hope it continues as well

Re Strategy ….. probably not the best person to follow in that regard lol …… totally discretionary and I get it wrong as many times as right, but do OK overall.

Re Selling in particular …. also guilty at times of holding too long, but I don't trade Momentum so timing the Sell is not as cut and dry ….. Trading Momentum Breakouts like Tech/a you basically have your Uncle point in place before you hit the buy button, so its a lot clearer in that sense …

In my opinion, unless the market is a big Bull, trading Specs on momentum breakouts will miss way more than they hit …. I trade as below …… The downside is time/waiting … and often the price will dip further before a Sell is clear so you can get a little more burnt occasionally.

Re AMG at the moment. It really depends on the strength of the announcement and the size of the spike or dip that immediately follows as to whether I would sell some/any/all.

At this point, the news will likely be positive otherwise they wouldn't have gone into a trading halt … How positive will determine if the market players want to get involved ….

If it spiked to 10 cents or higher (cheering) on just Ok news, I would probably take some off the table, but if the news is really good, I'll stay all in.

With Specs like AMG I try to accumulate "proactively" … as in based on what I think should occur and before the price has started to move too much, and often at retracement levels (Almost the opposite of trading Momentum, but the buy in levels are much lower)

After I have my accumulated amount, assuming movement in the right direction, I'll Trade out of a Stock "reactively" … as in following the strength of announcements and relative Price action.

PS Had a look at IVZ … will follow up over there later … Cheers

 

[peter2]

Price has been on a low volume slide since the last media release in early Dec18. This is not a concern for the longer term holders but perhaps a few short traders got caught.
Price and volume perked up a little last week and that is enough for me to select it the Feb comp.

 

[Anastasia]

Price has been on a low volume slide since the last media release in early Dec18. This is not a concern for the longer term holders but perhaps a few short traders got caught.
Price and volume perked up a little last week and that is enough for me to select it the Feb comp.

View attachment 91718

I have to agree with you Peter. The quarterly report should be out this week with hopefully an announcement or two for Burra. (Cloncurry will be out of the picture until the wet season is over). The results of the next stage of the MT survey should be completed by now or pretty soon and if the previous referencing with regards to the AusLAMP MT Survey indicating similarities in structures to those under Olympic Dam, then the results of the 25klm grid could be a great stimulus to buy. How I wish I had some spare cash right now - such a great buying opportunity passing me by!

 

[barney]

Price and volume perked up a little last week and that is enough for me to select it the Feb comp.

I'm keen for you to win this month's Comp Peter.

This afternoon's price action (subtle but noticeable) suggests this may be ready to move ….. I know they are looking to drill an 850 metre fully cored hole into the IOCG zone later this month so there may be a few punters looking to take a position ….. not a lot of shares being offered so it could move quickly on the sniff of good news.