WEZ - Westonia Mines

[Brad1m]

WEZ 12 month Cup & Handle Forming But lots of resistance points nearby.

Green or Mundine ?

 

[Sean K]

Re: Analize This WEZ Westonia Mines

Can you put your chart on here Brad?

 

[Sean K]

Clearly broken out through 21c thanks to another Fat Prophets 'buy'.

 

[Dan_]

FYI the Fat boys have always been a fan of this stock, I've jumped in and out of it a little as well.

 

[RichKid]

FYI the Fat boys have always been a fan of this stock, I've jumped in and out of it a little as well.

That's good to know, is there anything that they say sets it apart?

btw, nice tag Dan, I look forward to the day you get promoted to President of the Photocopying Divison!! Just imagine the perks!

 

[Brad1m]

Sorry about the delay in reply , had to go out tis morning "Renovating" :swear:
They took a nice little run this morning.
I have never looked into putting charts up. Maybe one day I will work it out.

Cheers

 

[Dan_]

I can post a chart later today if one is not put up by then. Richkid I'll also dig up some Fat Boys stuff and see what they have to say. I'm not a member *cough* so i should be allowed to post a few comments,

btw, nice tag Dan, I look forward to the day you get promoted to President of the Photocopying Division!! Just imagine the perks!

It all begins with a dream.....I'll keep climbing that corporate ladder, I'll get that free toner one day

 

[Sean K]

RK,

The latest drilling program increased the reserves to over 830,000 ounces. Of that: 400,000 measured; 300,000 indicated; and 130,000 inferred.

It aims to start producing in the 3Q, so if gold goes where most of us think, it will be quite profitable.

It's 44% owned by LSG, who some think are a quality outfit, (especially FP) and obviously cover them with cash as required, which they did for the latest placement at 17c.

Technically, the chart looks good for the short term. Broke out through 21c and heading to 30c. Maybe. Depending on gold price of course, as it has no hedging.

 

[Dan_]

As requested earlier...

 

[RichKid]

RK,

The latest drilling program increased the reserves to over 830,000 ounces. Of that: 400,000 measured; 300,000 indicated; and 130,000 inferred.

It aims to start producing in the 3Q, so if gold goes where most of us think, it will be quite profitable.

It's 44% owned by LSG, who some think are a quality outfit, (especially FP) and obviously cover them with cash as required, which they did for the latest placement at 17c.

Technically, the chart looks good for the short term. Broke out through 21c and heading to 30c. Maybe. Depending on gold price of course, as it has no hedging.

Thanks for the info and the chart Dan, looks like there's a bit of excitement about the stock going by the volatility, shadows on very high vol suggest sellers are taking advantage of it. Here's a longer term chart, it needs to break that resistance around 28cents or I expect it to range.

 

[Sean K]

Thanks for that chart RK.

Looks like 28c is the resistance. If it breaks that then 50c could be on the horizon? No?

The volume of the past year should be taken into account but perhaps that's just the interest in the general gold market.

It's been all ordinary news for this company until recently.

There's a pile of other opportunities out there at the moment, it's just a matter of choosing the ones with the most potential to take advantage of what could be historic gold prices over the next 2 years. I am hoping that they'll be in production quick enough (Q3) to take advantage of what could be vey high prices at the end of the year and into next year.

 

[RichKid]

.......
There's a pile of other opportunities out there at the moment, it's just a matter of choosing the ones with the most potential to take advantage of what could be historic gold prices over the next 2 years. I am hoping that they'll be in production quick enough (Q3) to take advantage of what could be vey high prices at the end of the year and into next year.

Yep, I think that's important, so many small gold stocks out there, let's see what sets this apart. Will be interesting to see where it finds support once Gold retraces, that range support looks reliable atm.

 

[Dan_]

That's good to know, is there anything that they say sets it apart?

In summary Richkid they believe it's a good investment as it aims to be producing by Q4 this year (October I think) and that it's 100% Unhedged.

 

[Freeballinginawetsuit]

The word is that these guys are definitely going to mine, in the early new year . The town is gearing up, Shire renting out all available houses and rent jumping to triple the normal value.

Proven support at 12c, which they just happen to be sitting at now!. Anyone else follow this stock?.

 

[vicb]

They have a report due out on the Greenfinch mine due mid October, should be out this week or next week.
Should be a positive report so we should see some support in the price in the next fortnight.
I have been keeping an eye on them for a while now and we need to see a good run on the gold price to see that price move back into the 20c area.
Fat prophets have been tipping it for a while now and they seem to be pretty keen.
Also I think Lion selection have a large stake in Wez so it has a great friend there. Lion selection have been pretty good in the past as to where they put their money.
It will be interesting to see the Greenfinch report.

 

[Sean K]

They have a report due out on the Greenfinch mine due mid October, should be out this week or next week.
Should be a positive report so we should see some support in the price in the next fortnight.
I have been keeping an eye on them for a while now and we need to see a good run on the gold price to see that price move back into the 20c area.
Fat prophets have been tipping it for a while now and they seem to be pretty keen.
Also I think Lion selection have a large stake in Wez so it has a great friend there. Lion selection have been pretty good in the past as to where they put their money.
It will be interesting to see the Greenfinch report.

Bought this yonks ago on the FP tip and sold at $0.18. Just seemed to get stuck around $0.20 and not move. I haven't been watching since I sold, just moved on.

 

[vicb]

It is one I have held on to for to long. Wish I had sold out at that price.
I think Fats was tipping around 20c.

 

[Freeballinginawetsuit]

It is one I have held on to for to long. Wish I had sold out at that price.
I think Fats was tipping around 20c.

You had plenty of time to sell it, you should have. They've had plenty of trading ops (a few runs). Fats didn't get its tipping wrong they hit 20 a few times. Fizzled cause no news on mine commencement

Just stating that today's entry is at a support level and my info is that they are going to mine. Its been a while coming!. Will be good for the town and the company.

Thats whats Westonia Mines is all about, if they don't mine, well their a nothing share.

 

[vicb]

I have done alright out of Westonia and if I did sell now at its' 13c I will make a bit better then a 40% return on my money.
I am taking a long time view with WEZ and I do think it will go for a run soon and pass the 20c mark.
I am a firm beliver in the price of gold going for a steep climb.

 

[Freeballinginawetsuit]

A bit of a move for WEZ today, on fairly decent volume.