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Hot gossip, so ASX suspends uranium explorer

Jamie Freed
December 29, 2006


SHARES in two Sydney exploration companies rocketed yesterday amid rumours an update on a Queensland uranium prospect would soon be released.

Goldsearch shares more than tripled on high volume before the Australian Stock Exchange intervened to suspend trading yesterday afternoon.

It is believed directors of the company could not immediately be reached to respond to a price query and therefore trading was suspended indefinitely by the exchange rather than temporarily halted by Goldsearch.

The Herald was also unsuccessful in an attempt to reach directors to learn whether any drilling samples had yet been sent to a laboratory for evaluation.

Goldsearch is earning up to 75 per cent in the Mary Kathleen uranium project in Queensland in a joint venture with fellow Sydney explorer Central West Gold.

Earlier this month Goldsearch began reverse circulation drilling at Mary Kathleen, which is located 6 kilometres south of the historic mine of the same name in the Mt Isa/Cloncurry region. It planned to drill 1000 metres initially, but said the program would be expanded if high radiometric counts were returned from sampling.

An announcement released on December 7 said results were anticipated within the following six weeks. Shares in joint venture partner Central West closed 10c, or 40 per cent higher, at 35c yesterday but were not suspended from trading. Many of its holders are believed to be clients of Sydney broker Martin Place Securities, which was associated with the steep rise in price of copper hopeful Cudeco.

Central West's managing director and chairman were on leave and unavailable for comment yesterday. Non-executive director Warren Staude said he was not aware of any new information that would account for the strong share price gain apart from a recent rise in cobalt prices which might boost the prospects of another project held by Central West.

Goldsearch shares, which closed at 4.8c on Wednesday, were suspended at 12c yesterday after reaching 15c during trading.
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hey all. I've taken a relatively small position in GSE (given the volatility) at the fall this morning.

Pure spec play, lets see what happens.
 
Caliente said:
hey all. I've taken a relatively small position in GSE (given the volatility) at the fall this morning.

Pure spec play, lets see what happens.
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If you picked them up a 9c you could still be laughing...but no for long as the numbers have changed intraday....shorterm anyway...


Strenght and support at 9c as 645000 bought n sold there.

Good luck though.
SevenFX
 
crazyjimsmith said:
I'm in two minds now.

I think there is some tree shaking going on here.

:confused: :confused:
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I can't be all that bad or else it would have fallen through the floor, with the rise it had yesterday.

Critical range is between 9-10c and may well range for rest of day with no real direction. Falling outside that range may require attention.

SevenFX
 
bigdog said:
GOLDSEARCH LIMITED ORDINARY FULLY PAID Reinstated: 10:25:36

The company is not ware ....

Currently 9 cents

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00682369
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A hand held scintillometer measures gamma bursts escaping from a U sample in counts per second. The GSE ASX release reports in ppm (which u get from lab assays of U by weight). How could they already report in ppm? This is very nonsensical and I am surprised that the ASX did not raise an additional query here?

The JV interests are GSE 50% in the recent AR and now at 75%. Where is the explanation?
 
Hey guys.

Look at the company ann on 27.7.06

This looks very promising in my opinion.

Interesting about the ASX speeding ticket reply. Very odd about ASX not picking up on the error also.
 
sydneysider said:
A hand held scintillometer measures gamma bursts escaping from a U sample in counts per second. The GSE ASX release reports in ppm (which u get from lab assays of U by weight). How could they already report in ppm? This is very nonsensical and I am surprised that the ASX did not raise an additional query here?

The JV interests are GSE 50% in the recent AR and now at 75%. Where is the explanation?
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Hey Sydneysider,

My reasearch has shown that when the previous owners used a scintillometer where they are drilling it went berserk because there was so much uranium.

These guys now issue a statement saying it was picking up 50ppm!

What is the reason for the lie?

Why are they down talking it?

Could it be that they want to keep a lid on it so that they can acquire more shares?

:confused: :confused:

Some HC posters are already making wild claims about a massive find but knowing that it is from HC you know that the reliability of the information is questionable.

Any thoughts guys?
 
morning Tek! Given the surge around the ASX this morning, I think that even 15c will get threatened today...

edit - the question is where to once 15c is breached?
edit 2 - 15c looks breached.

Hope ur on board!

Best of luck to all holders

disclosure: I hold.
 
Tek, I know you have some funky tools!

can you please have a look at the buy/sell depth. To be honest, the sell side looks THIN all the way on Commsec atm.
 
Caliente said:
Tek, I know you have some funky tools!

can you please have a look at the buy/sell depth. To be honest, the sell side looks THIN all the way on Commsec atm.
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You must have me mixed up with the FAMOUS TECH/A, with the funky tools, but not forgotton tradesman behind the tools.

Depth is obvious, strong sales at 14.5c (2.6m) 16c(1.2m) & 17c(2.2m) all rounded up.

Strong retrace, heading north once again.
 
SevenFX said:
You must have me mixed up with the FAMOUS TECH/A, with the funky tools, but not forgotton tradesman behind the tools.

Depth is obvious, strong sales at 14.5c (2.6m) 16c(1.2m) & 17c(2.2m) all rounded up.

Strong retrace, heading north once again.
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I am also riding this one BUT have a larger position in URL which owns a very considerable amount of strike length that runs immeadiately NW of the Mary Kathleen Mine. Both GES and URL have identified this NW corridor as a "very hot" U prospect. URL has generated a considerable quantity of preliminary work here over a very large area. I am a little surpised that the punters have not yet made the connection yet. See the URL presentation on their website for more information.
 
Most trades placed at 16c totalling to 3.9m, with possibly strong support.

Resistance at 17c with 3.1m trades placed here, hence where gse has been ranging.
 
sydneysider said:
I am also riding this one BUT have a larger position in URL which owns a very considerable amount of strike length that runs immeadiately NW of the Mary Kathleen Mine. Both GES and URL have identified this NW corridor as a "very hot" U prospect. URL has generated a considerable quantity of preliminary work here over a very large area. I am a little surpised that the punters have not yet made the connection yet. See the URL presentation on their website for more information.
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A few months I was burnt badly by speculating in URL. If I had held on any longer I would lost even more. I sold out of URL and placed the funds into more worthwhile situations such as VMS at 24.5 cents and GSE with good results. I found the URL management to be totally uninterested in dealing with shareholder's enquiries (I rang them a few times). If they don't care about returning calls and the sp keeps on falling, what does it say about the company? Sorry to be harsh, but I'll never touch URL again.
DYOR
 
16c seems to be STRONG support/restistance with massive 5m trades executing there.

Should still see some resistance at 17c, and perhaps blue skies if breaks todays highs of 17.5c

ALL IMO of course, anyone else hold ding and thoughts...??? as trading sideways is putting this trader 2 sleep.
 
SevenFX said:
16c seems to be STRONG support/restistance with massive 5m trades executing there.

Should still see some resistance at 17c, and perhaps blue skies if breaks todays highs of 17.5c

ALL IMO of course, anyone else hold ding and thoughts...??? as trading sideways is putting this trader 2 sleep.
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This stock has an amazing chart. I feel its a bit late for my liking to get back into. With the benefit of hindsight, I got out too soon, but I can't complain nonetheless. I rather buy a situation before it goes into breakout mode.
DYOR
 
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