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VRE - View Resources

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VRE is teetering on support at the moment, filled the gap since friday's open and if it dosen't hold strong at 21c my stop will probably get hit. This is unlikely though, with VRE's Bronzewing and Carnyila hill prospects and IMHO today's SP is value and I'm considering topping up :rolleyes:

VRE needs some buying volume and this has been lacking the last couple of day's. Profit takers are sucumbing and been selling, with no new buyers stemming the flow.
 
Announcent today

Highlights:
• Mincor earns right to JV at Carnilya Hill Nickel Project
• Pre-feasibility study for new mine commenced
• Focus now on a resource definition
View Resources Limited (ASX:VRE) today announced the successful completion by Mincor Resources to earn-in to a 70% Joint Venture position at Carnilya Hill in Kambalda.

Under the terms of the Farm-in and JV, Mincor was required to spend $2.5 million over three years, starting in April 2006. With immediate exploration success in delineating continuing mineralisation in the western down dip plunge of the Carnilya Hill Main mine and the historic high nickel prices, it has taken just nine months to reach a JV, demonstrating the potential value which both View and Mincor place on the asset.

The original Carnilya Hill nickel mine produced circa 43,000 tonnes of nickel in ore at an average grade of 3.4% Ni, and the JV partners are currently drilling to define a new resource on the western plunge. Results already reported show the mineralisation extending over 700m with a number of massive nickel sulphides intersections, including 11m at 7% (CMD005).

The Joint Venture partners have commenced pre-feasibility work whilst continuing with resource definition and currently two rigs are operating on site. As all infrastructure is in place both underground and on surface, including an off-take agreement with BHP Billiton for processing the ore, any move into production is expected to be quick and low cost.
Click to expand...

I thought there would be more interest in this following the announcement. Looks like patience is the order of the day for this one.
 
VRE could be starting to move again, bit of bullish price action ATM. Could continue as its definately been consolidating the past week, could also fizzle though!. Still good value at these prices IMO.
 
Based on a descending long term triangle, it appears there was a breakout here in October around 20c, also when volume increased. Today at 27c, the only real horizontal resistance that remains is around 31.5c-32c, although there is some around 29c.

It might takes a couple of hits to break 32c...
 
Novski said:
Based on a descending long term triangle, it appears there was a breakout here in October around 20c, also when volume increased. Today at 27c, the only real horizontal resistance that remains is around 31.5c-32c, although there is some around 29c.

It might takes a couple of hits to break 32c...
Click to expand...

Volume in October was probably to do with punters taking up positions for the rights issue, nothing more!.

VRE has not quite been the quick trade it seemed a few weeks back. A bit of a fizzler really :( .

This current push has been on weak momentum and volume. Although its made a recovery of late and the break through 24c should now provide support, unless this stock gets some interest its going no where fast.

Fundamentally VRE are good and Bronzewing and Carnya Hill will be Company makers, I seriously think theirs quicker money to be had elsewhere in the market ATM.

Ive moved my trailer to 25c now and if it hits it I'm out/ if it dosent get past 28c in the next couple of weeks I'm going to bail regardless. :D

All the best to holders.
 
VRE is still hanging around the 27-28c mark with a decent increase in volumes of late. Since Nickle spots recent break (MCR's Farm in) and Bronzewing immenet, VRE has a few compelling reasons to stay holding.

Frustrating stock this one, just can't seem to gather enough momentum for a sustained run. It's still maintaining a general uptrend ATM, so no real reason to sell.
 
Freeballinginawetsuit said:
VRE is still hanging around the 27-28c mark with a decent increase in volumes of late. Since Nickle spots recent break (MCR's Farm in) and Bronzewing immenet, VRE has a few compelling reasons to stay holding.

Frustrating stock this one, just can't seem to gather enough momentum for a sustained run. It's still maintaining a general uptrend ATM, so no real reason to sell.
Click to expand...
This is looking like a potential breakout. And I'm thinking that MCR's breakout has to do with the JV these two are in, hence the similar performance of VRE in the last few days. The charts look very good for this one at the moment.
 
porkpie324 said:
Same with the options I've traded these a couple of times, but out ATM. porkpie
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Does anyone know the excercise price for these in case VRE breaks out?
 
dubiousinfo said:
The exercise price for the opies is 20c and they expire on 31/6/08.
Click to expand...
Cheers. Do you mind telling a noob like me where you obtained this info from?
 
Still doing well. The oppies at one stage were up 25% today. Hopefully it can hold up for a little while longer yet.
 
chops_a_must said:
Still doing well. The oppies at one stage were up 25% today. Hopefully it can hold up for a little while longer yet.
Click to expand...


Yep, this ones a bit of a turtle "slow and steady wins the race". No quick moves over the past couple of months, yet its nearly doubled its SP.

Still no reason to sell fundamentally or on price action, IMO
 
Freeballinginawetsuit said:
Yep, this ones a bit of a turtle "slow and steady wins the race". No quick moves over the past couple of months, yet its nearly doubled its SP.

Still no reason to sell fundamentally or on price action, IMO
Click to expand...
Lol! Just after I posted that, it dived quite badly. Made a nice profit on the oppies, still hold the full share. And will see what happens tomorrow as to what I do. I don't plan on selling soon though. Everything seems to suggest it still has a lot of legs.
 
Nice Chart ... this huge double bottom, come saucer shape is looking promising. Has just gone above a significant high in 2005 and appears to be consolidating ... With overall volume up and vol confirming the daily moves.

Great target! as if it continues to move up .... next major resistance is 55c. ......... a target of 53c if u invert the saucer. I like it when both targets are similar :)

If there's strong volume I'll be grabbing a few more if it hits .36
 

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Sweet Synergy said:
Nice Chart ... this huge double bottom, come saucer shape is looking promising. Has just gone above a significant high in 2005 and appears to be consolidating ... With overall volume up and vol confirming the daily moves.

Great target! as if it continues to move up .... next major resistance is 55c. ......... a target of 53c if u invert the saucer. I like it when both targets are similar :)

If there's strong volume I'll be grabbing a few more if it hits .36
Click to expand...
This stock is also benefiting from bullish coverage in February's edition of Resource Stocks. Its gold and nickel potential are looking very good.
DYOR
 
greggy said:
This stock is also benefiting from bullish coverage in February's edition of Resource Stocks. Its gold and nickel potential are looking very good.
DYOR
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Thanks Greggy, I didn't know about the Mag coverage.

An independant research paper has recently been released that looks interesting ... a little info from it below and link for the full paper.

VRE continued to consolidate today ... so be interesting to see if it can break the current significant resistance and continue it's up-trend ...

Cheers,
SS

RE: VRE fundamentals - they seem fairly solid ...
Over-subscribed share placement (quoted on ASX Dec '06) so they are cashed up and have the infrastructure in place to supply their forward gold contracts. Nickle interests as well.

"RM Research value View at 42 cents with production at Bronzewing and
exploration at Carnilya Hill remaining on track and on budget. Further share
price upside is likely following Bronzewing commissioning and a resource
statement on Carnilya Hill anticipated in March 2007"
(from recent independant research paper ... http://www.viewresources.com.au/ann...20beb76daeb4ab)
 

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