It was just over two weeks ago that Jacka Resources (JKA) announced that they were offered the exclusive negotiating rights over the Ruhuhu Basin (oil and gas) by the Tanzanian government. When this announcement was made it definitely caught my eye and whilst the share price did spike I was surprised there was not more volume behind it and that it wasn't a bit stronger. I decided to put the company on my watchlist.
We've had no news since. Friday's (15/07/11) share price action suggests something is about to happen. The stock price jumped $0.019 to $0.11 or 21% on strong volume of 3.8 million units. Infact, that's the largest volume on the stock since listing in July last year. From a technical perspective it breaks a downward trend that has seen the share price slide from $0.23 in october to a low of $0.067 in late June.
In the announcement that I refer to Jacka Resources mentioned that a product sharing agreement would be negotiated over the next few weeks so this may be coming to a conclusion soon. I do like the fact that they mentioned they would be the 100% owner and importantly the operator giving them good control. So is the stock price moving on the back of the pending agreement?
Well there appears to be a lot more to like to Jacka Resources. I am wondering if the market is starting to warm to the potential of this company? DJ Carmichaels covered the company in October last year in a research report titled 'Upcoming Exploration and Appraisal Activity in Africa' and quoted a $1.36 unrisked upside target for the company.
It is also worth noting that the company has a market capitilisation of $9 million, recently completed an entitlement bringing $4.6 million into it's coffers and the number of shares on issue/free float is reasonably low. The personnel involved with the company are also high profile with ex-Hardman Resources directors onboard including Richard Aden and Scott Spencer who built Hardman Resources into a $1.4 billion company before it was taken over.
Jacka Resources seems to tick many of the boxes.
Sunday, July 17, 2011
Thursday, July 14, 2011
Raisama Limited Research Report
- Patersons Securities has released a research note on Raisama Limited (RAI) with a Speculative Buy
- Research report dated 12/07/2011
- Target Price: $0.23
- RAI Last Traded Price: $0.12 (14/07/2011)
- Research link
Saturday, July 9, 2011
TNG Limited Research Report
- Old Park Lane Capital has released a research report on TNG Limited (TNG) with a buy recommendation
- Research report dated 07/07/2011
- Short Term Target Price: $0.27
- TNG Last Traded Price: $0.095 (08/07/2011)
- Research link
Wednesday, June 29, 2011
No afternoon sell off today!
The ASX 200 finished up 55.2 points to 4529.5 and it was good to see that for the first afternoon in almost a week that it didn't get sold down!
It meant that the small end of the market saw some risk money coming into it and quite a few winners. I couldn't help but notice yesterday the price and volume spike in C @ Limited (CEO) shares, up almost 18% on 16 million units traded. Yesterday's trading action proved the leaky ship with the company today announcing that coal seams were intersected from two holes drilled at it's Mongolian licences. The stock was up 33%.
Energio Limited (EIO) also had good gains today with it's shares up $0.005 to $0.036 on 17.6 million units. News flow should be good in the next few weeks with samples from it's Agbaja Plateau due. Anticipation of these results could enable a short term trade in the lead up.
Finally, the share price drop in Vmoto Limited (VMT) has been arrested after the ASX issued a (reverse) speeding ticket enquiring as to why the price had dropped from $0.022 to $0.015 from Monday to Tuesday. The company could provide no explanation and based on that the market assumed there is no bad news around the corner and marked the price up.
It meant that the small end of the market saw some risk money coming into it and quite a few winners. I couldn't help but notice yesterday the price and volume spike in C @ Limited (CEO) shares, up almost 18% on 16 million units traded. Yesterday's trading action proved the leaky ship with the company today announcing that coal seams were intersected from two holes drilled at it's Mongolian licences. The stock was up 33%.
Energio Limited (EIO) also had good gains today with it's shares up $0.005 to $0.036 on 17.6 million units. News flow should be good in the next few weeks with samples from it's Agbaja Plateau due. Anticipation of these results could enable a short term trade in the lead up.
Finally, the share price drop in Vmoto Limited (VMT) has been arrested after the ASX issued a (reverse) speeding ticket enquiring as to why the price had dropped from $0.022 to $0.015 from Monday to Tuesday. The company could provide no explanation and based on that the market assumed there is no bad news around the corner and marked the price up.
Wednesday, June 22, 2011
Today's roundup
The market closed up for a second day in a row today with the S&P 200 up 24.4 points to 4532.6 after being up 57 points earlier. It appears that the bears still concerned about Greece took opportunities to sell down into the spike.
A raft of juniors were up off their lows after the market sell off in the past week. These included Bannerman Resources (BMN), up $0.03 to $0.25 and Greenland Minerals & Energy (GGG) up $0.07 to $0.615 on good volume of 2.1 million units.
Murchison Metals (MMX) and Gindalbie Metals (GBG) were both strong after in an interview the QR National (QRN) CEO advised it would invest in the Oakajee Port and Rail project should the existing partners not be able to complete the project. MMX as a partner in the project is expecting cost blowouts.
MMX went into notice received at 3:47pm and the stock did not reopen/participate in the closing auction.
A raft of juniors were up off their lows after the market sell off in the past week. These included Bannerman Resources (BMN), up $0.03 to $0.25 and Greenland Minerals & Energy (GGG) up $0.07 to $0.615 on good volume of 2.1 million units.
Murchison Metals (MMX) and Gindalbie Metals (GBG) were both strong after in an interview the QR National (QRN) CEO advised it would invest in the Oakajee Port and Rail project should the existing partners not be able to complete the project. MMX as a partner in the project is expecting cost blowouts.
MMX went into notice received at 3:47pm and the stock did not reopen/participate in the closing auction.
Saturday, June 18, 2011
MetroCoal Limited Research Report
- RBS Morgans has released a research report on MetroCoal Limited (MTE)
- Research report dated 15/06/2011
- Target Price: $1
- MTE last trade: $0.595 (17/06/2011)
- Research link
Thursday, June 16, 2011
Market Commentary
The market tanked almost 2% today with the S&P 200 dropping 88 points to 4479. Sentiment is poor and whilst it doesn't bode well for small cap stocks for those that are taking a longer term view it could be a good time to top up on some of your favourite cheapies.
Movers for today included NSL Consolidated (NSL), Empire Oil & Gas (EGO) and Enterprise Metals (ENT). NSL whilst focusing on iron ore projects in India moved on the news that it was acquiring thermal coal projects in Queensland as the opportunity presented to them was too good to refuse. Shares finished up $0.01 to $0.055.
EGO was one for the traders (and always has been) as it's shares spiked 22% to $0.028, with 231 million units changing hands. The company announced it was in discussions on a forward sales gas contract with Alcoa.
ENT received a speeding ticket from the ASX after it's shares improved from $0.20 to a high of $0.245 today. Volume wasn't exceptionally high so it makes you wonder if the surveillance division is a litte bored at the moment with the spec end of the market quiet. The company cited no reasons for the share price increase. One of the directors recently purchased a small parcel of shares on market.
Movers for today included NSL Consolidated (NSL), Empire Oil & Gas (EGO) and Enterprise Metals (ENT). NSL whilst focusing on iron ore projects in India moved on the news that it was acquiring thermal coal projects in Queensland as the opportunity presented to them was too good to refuse. Shares finished up $0.01 to $0.055.
EGO was one for the traders (and always has been) as it's shares spiked 22% to $0.028, with 231 million units changing hands. The company announced it was in discussions on a forward sales gas contract with Alcoa.
ENT received a speeding ticket from the ASX after it's shares improved from $0.20 to a high of $0.245 today. Volume wasn't exceptionally high so it makes you wonder if the surveillance division is a litte bored at the moment with the spec end of the market quiet. The company cited no reasons for the share price increase. One of the directors recently purchased a small parcel of shares on market.
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