WMT - Western Metals
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Sean K
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Interesting question. If you're long term though, entry is less important.
The growth is resource explorers is characterised by a graph, which displays when most growth actually occurs. This is a generalisation, but is as good an answer on growth phases you will get.
As seen by the graph, it's good to get in after the first discovery holes through to the final ones. During the PFS/BFS stage interest dies off before the run up to production which shows another good growth period.
WMT could do anything at this stage. Still highly speculative IMO.
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Thank you for your reply. Do you know when the first discovery holes were for wmt? At what stage are they at now? Do you know of internet sites that can inform you of when companies do their first drills and how do you go about reading their data? Any information is greatly appreciated?? I am new to this and im keen to learn.
Sean K
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Popy, WMT have projects all over the place. There're not a single geographic/mineral/project company so it's a little harder to judge here. Most of their projects are more towards the initial phases, so you might be able to say they would be in the growth phase between discovery and finding a JORC. You should have a longer read through this thread for all their projects, there's some good info, and you should back it up by reading their announcements and project details. Go to their website here: http://www.westernmetals.com.au/ Good luck.
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Ahoy Sea-Cadet Popy
My advice is to stear clear of Long-Range weather forcasters unless they can prove themselves in the Short term
If they can't work out what is over the Horizon in the near future
How in hell can they work out what is install for us after many revolutions of the sun and more importantanly
"The Moon" which effects our ocean tides
Salute and Gods' speed
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Ahoy there Captain,
Hasn't it broken down as it may a lower low today at 27.5, so that is not good short term. I notice the volume is low each day so it seems it is nervous nellies selling. No sign of BHP results is making people nervous.
BUT chart wise, it looks like it has broken support intra day and needs to finish 28 or above.
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Should we be expecting another announcement before the end of June?
Or was the announcement made on the 5th June it for the quarter?
G.
Or was the announcement made on the 5th June it for the quarter?
G.
Sean K
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Announcements on various things are due this quarter, so by the end of the month. Go back through the thread to see a matrix of when their projects are due to start. It has been taken off their web site, so perhaps you could go to that and have a look at one of their last presentations which contain the schedule.
Sean K
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Technically, there should be support at around 27 cents. Oversold on the Stchastic indicator and flattened out a little on MACD, so could be approaching a bottom. However, momentum seems well and truly down here and until it makes a higher low and high, I'm watching from the sidelines. So, needs to first break 33/34 when I would be looking at it from there. Then again if it breaks 37, depending what happens on the way back up. That's a way off from here. If it breaks down through 26, then you'd have to re-evaluate your position if you're a short term player and you see other opportunities.
(that said, anything could and will happen
this is just probabilities)Attachments
Sorry Kennas but posting a very similar chart as well mate. Just a slightly longer perspective, agree with all you said. I am watching from the sidelines as well as it is showing no signs as yet of a reversal and these levels drawn are only hypotheticals. A couple of things in WMT's favour though, is it stopped today at the 50% retarcement level from Dec 2006 lows to the double top in April. Furthermore as Kennas noted there seems to be some previous cluster of price from March which may also at least stop the plunge.
The other factor in here is the divergence in the OBV and note that the run up early this year was heavily supported by huge volume. The decline from April however is comparably on much thinner volume. Again though I would definently not be in WMT at the moment, and as Kennas said would be sitting and waiting.
The other factor in here is the divergence in the OBV and note that the run up early this year was heavily supported by huge volume. The decline from April however is comparably on much thinner volume. Again though I would definently not be in WMT at the moment, and as Kennas said would be sitting and waiting.
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UMike
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You're not wrong Kennas.
Anything can happen with this share.
Although with BHP on the sidelines you'd think it wouldn't drop to much.
Anything can happen with this share.
Although with BHP on the sidelines you'd think it wouldn't drop to much.
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Hi guys,
As you may be aware, Western Metal's JV partner in Tanzania, Uranium Resources (listed on the London AIM) is looking to dual-list on the ASX shortly. No definite date has been given publically but it is believed to be this month or next ie before the initial drilling results are due from Tanzania in early August.
According to what was said at the URA AGM last week, URA management believe that at the moment, most of the value of WMT is in their shared Tanzanian operations, and therefore the current value of URA should be much closer to the value of WMT (which is 3-4 times greater).
I was just wondering whether the recent drop-off in the WMT price could be related to this, in that people/institutions could be selling one to buy into the other?
Any thoughts?
As you may be aware, Western Metal's JV partner in Tanzania, Uranium Resources (listed on the London AIM) is looking to dual-list on the ASX shortly. No definite date has been given publically but it is believed to be this month or next ie before the initial drilling results are due from Tanzania in early August.
According to what was said at the URA AGM last week, URA management believe that at the moment, most of the value of WMT is in their shared Tanzanian operations, and therefore the current value of URA should be much closer to the value of WMT (which is 3-4 times greater).
I was just wondering whether the recent drop-off in the WMT price could be related to this, in that people/institutions could be selling one to buy into the other?
Any thoughts?
Lachlan,
Can you explain what you wrote about the OBV divergence please. I know you state it has come back on thinner volume but does the divergence cause it to be a buy now??? What about the MACD??
Gday Lioness. The OBV Divergence is a sign that the institutions and big players are not disposing stock in the current retracement and that comparably this current fall is on light volume. However if $0.21 is breached (along with 200 day EMA), this will become a serious decline. Interestingly MACD is also showing positive divergence Lioness, however this can only be confirmed if the stock breaks its June highs at $0.33.
I assume this means if it can break 33 cents, it will go back to previous highs.
Many thanks, by the way expect BHP results early next week.
The MACD is still showing a buy, positive divergence still there.
I might buy some more tomorrow.
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