WME - West Australian Metals

[canny]

Just a heads up that this, even though it has low volume, is a tightly held and nicely rising stock.
Suggest you do a little research and look at it as a serious prospect.
It is being accumulated without panic - and I wouldn't be surprised to see it rising closer to 20c before the year end.
Leading the October comp at 15% so far - (which is totally irrelevant)
I do know there are some good investors in this one.

 

[canny]

OK - seems no-one else is interested in this one, but as I pointed out originally, it is very tightly held.
Feel an announcement coming on and it might be good.
Had a couple of very good days recently, and will move quickly when it 'goes' as there is so little stock on offer.
Worth keeping an eye on folks - and don't leave it too long if you like the look of it. 'U' know what I mean?

 

[canny]

Check the volume in the options today - someone is trying to hold it down until they can get the announcement out by the looks of things.

Serious heads up.

 

[pancho]

Hi canny The chart this week looks to be shaping up.or here goes as they say

 

[canny]

Hi pancho - Yes, I think we're looking for lift off pretty soon.
Fridays drop is a good time to allow the company to release news, as it's not doing a crazy DYE kind of move!
Hope it's not too long now!

 

[pancho]

Hi canny. Yep one guy had a huge order in on thursday, hope he knows something.

 

[canny]

Guys and gals - big percentage move in WME and WMEO today - on reasonably low volumes.
Just think what is going to happen on GOOD volume!!
You know I've been watching it for a while now - and I'm hearing it is due to go off VERY soon.
Once they finalise and release their news, you can expect upwards towards the 30c mark.
The options are great value with a 5c conversion and a long expiry - August 2008.
As the rumour mills are alive and well, they can't leave it much longer without announcing.

 

[canny]

OK - I know I'm practically talking to myself, but WME is about to look at a major re-rating, with lots of broker talk, and accumulation happening. (Some have been accumulating for months - since I first started talking to myself on here about WME!!!)
There is a whisper that we will have a major announcement this week - and I would just like you all to have a share in the profits!!
WMEO is a bargain at these levels, with a 5c exercise price and longevity in its favour (Aug 2008)

 

[surelle]

don't be so hard on yourself, Canny...panch spoke to you a couple of times

 

[canny]

LOL!!! Yep - but still a bit lonely out here.
Do yourself a favour and put it on watch!

 

[surelle]

it's had a bit of a run lately - still room to go higher???

 

[canny]

it's had a bit of a run lately - still room to go higher???

Absolutely - brokers are talking 30c.

 

[surelle]

will keep an eye on it - thanks

 

[canny]

I'm hoping for an ann today - if not tomorrow - which will start a nice run if I'm 'on the ball'. Hang in there surelle & co.
It's gone pleasantly quiet - good time to release news.

 

[surelle]

well the movement went north instead of south, and on a Friday too, how comforting...hanging in there

 

[canny]

Announcement today (2nd one) - suggests that it IS a uranium project that is about to be taken on. Have been waiting for the project news release since they announced that they were selling some gold leases to concentrate on a 'new project'.
The whispers are Namibia - with territiry next to PDN.

Here's the ann - should lead up to better things.
28 March 2006
Manager Announcements
Company Announcements Office
Australian Stock Exchange Limited
Level 4
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Sir / Madam
APPOINTMENT OF TECHNICAL DIRECTOR & ACTING C.E.O.
The Board of West Australian Metals Ltd is pleased to announce the appointment of Mr Leon Reisgys as Company’s Technical Director and Acting Chief Executive Officer.
Mr Reisgys holds a Bachelor of Science (Honours) in Applied Geology from the University of New South Wales and a Graduate Diploma in Mineral Economics from Macquarie University. He is a Chartered Professional (Geology), a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists.
Mr Reisgys brings to West Australian Metals extensive experience in the successful exploration for and/or the development of uranium, base metal, precious metal and mineral sand deposits in Australia and internationally.
Mr Reisgys’ experience includes 6 years as a uranium geologist with Pechiney Australia Pty Ltd and Minatome Pty Ltd, a joint venture company owned by the nuclear divisions of the French multinationals Pechiney and Total.
During this period Mr Reisgys explored for and evaluated Australian uranium deposits of all types, including unconformity, roll front, volcanic, granite hosted/Rossing type and calcrete style deposits. He was a member of the teams credited with the discovery of the Manyingee (WA) uranium deposit (8.08mt @ 0.1% U3O8 indicated, 6.663mt @ 0.06% U3O8 inferred) and the Ben Lomond (QLD) uranium deposit (2.98mt @ 0.228% U3O8).
For the past three years he has been consultant and Chief Geologist for Universal Resources Limited and previously served as Managing Director and Chief Executive Officer for several ASX listed companies.
Mr Reisgys will commence working with the Company and assume his board position as of 22 May 2006.
West Australian Metals Ltd
Mr Reisgys will be employed under an employment contract with a term of 3 years.
Mr Reisgys’ remuneration package will comprise:
• a base salary package (inclusive of superannuation and directors fees) of $250,000 per annum;
• a penalty payment of $10,000 (inclusive of superannuation) whilst holding the position of Acting C.E.O.;
• the provision of a company vehicle; and
• the issue of 3.25 million options exercisable at 10 cents each, with 3 million of these options subject to market capitalisation hurdles. These options will only be issued upon the approval of shareholders in a general meeting.
Yours faithfully
for WEST AUSTRALIAN METALS LTD
[signed]
Rodger Johnston
Chairman

 

[surelle]

yes, they seem to be pleased to promote the fact that Mr Reisgys has Uranium experience
cheers

 

[pico]

Hey canny , thanks for the tip. WME is a rocket and its only just starting to
take off. I owe you a beer or ten.
Look forward to the ann.

 

[YOUNG_TRADER]

Have noticed a volume build up in buy depth, has moved up to test a strong resistance (previous support) level of 16c if it breaks through it could surge to 24c (previous tripple header level!)


Whats driving it? Uranium specualtion,

Company has huge operating grounds in Nambia, but unlike EXT and BMN there seems to be no real talk of it,

It should be undertaking drilling soon per 4th July ann

 

[YOUNG_TRADER]

Ok that was just wierd!!!!!!!!!!!!!!!!!

Total traded was 200,000 when I posted, 3 mins later 1.5m were bought @16c taking it up to the resistance level what the???????????????????????


Was it someone in here?

Thats just really funny timing!