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.
Wednesday, June 29, 2011
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.
Saturday, May 28, 2011
Transit Holdings Research Report
- Taylor Collison has released a research report on Transit Holdings (TRH)
- Research report dated 25/05/2011
- TRH last trade: $0.805 (28/05/2011)
- Research link
Wednesday, May 11, 2011
Red October Resources - Good Recipe?
One company that did catch my eye today was Red October Resources (ROS). The company only listed on the ASX on Monday and closed at $0.295, an excellent premium on it's issue price of $0.20.
Today the share price improved further and closed up $0.07 to $0.37 on higher volumes (over one million units today compared to less than 500,000 yesterday and the day before). ROS raised $4.5 million in the float and it's only project is via a farm in agreement on a nickel (and other minerals) project with Segue Resources (SEG). SEG has in my opinion been a bit of a cellar dwellar and underperforming company for some time.
ROS doesn't seem to have too much going for it now however I'm more interested in it's potential. Today the company made an announcement which gave us some hint as to what is on the cards. The prospectus advised us that the company was pursuing new projects in resources sector in Australia and abroad. Now, today we received the news that the company is focussing on Kazakhstan and has been offered Gold, Silver, Tin, Copper, Manganese, Platinum, Iron Ore and Potash projects.
The announcement was clever in that it served a purpose of letting the market know what the company was about and intending to do especially for those who hadn't heard of this new listing. In my opinion the farm in agreement with SEG is really just a cover, a way for the company to get a listing approved by the ASX (the ASX wouldnt approve listing of a company that didnt have any assets, yet.). After the news the buyers started coming.
I think that this one is a good recipe. Low shares on issue will allow for share price increases to be exaggerated and less sellers to come onto the market and hold the price down. Those wishing to realise their stag profits may have done so already in the last couple of days. The speculation and anticipation of what may be vended in will drive the share price. Does this remind you of anything???...
Fortis Mining (FMJ) listed in December last year. The company announced early in February the intention to acquire a 'world class' potash asset (02/02/2011 Share price $0.38), late February FMJ signs head of agreement to acquire potash assets in Kazakhstan (23/02/2011 Share price $1.49) and then the share price hits a high of $3.98 on 03/03/2011.
Today the share price improved further and closed up $0.07 to $0.37 on higher volumes (over one million units today compared to less than 500,000 yesterday and the day before). ROS raised $4.5 million in the float and it's only project is via a farm in agreement on a nickel (and other minerals) project with Segue Resources (SEG). SEG has in my opinion been a bit of a cellar dwellar and underperforming company for some time.
ROS doesn't seem to have too much going for it now however I'm more interested in it's potential. Today the company made an announcement which gave us some hint as to what is on the cards. The prospectus advised us that the company was pursuing new projects in resources sector in Australia and abroad. Now, today we received the news that the company is focussing on Kazakhstan and has been offered Gold, Silver, Tin, Copper, Manganese, Platinum, Iron Ore and Potash projects.
The announcement was clever in that it served a purpose of letting the market know what the company was about and intending to do especially for those who hadn't heard of this new listing. In my opinion the farm in agreement with SEG is really just a cover, a way for the company to get a listing approved by the ASX (the ASX wouldnt approve listing of a company that didnt have any assets, yet.). After the news the buyers started coming.
I think that this one is a good recipe. Low shares on issue will allow for share price increases to be exaggerated and less sellers to come onto the market and hold the price down. Those wishing to realise their stag profits may have done so already in the last couple of days. The speculation and anticipation of what may be vended in will drive the share price. Does this remind you of anything???...
Fortis Mining (FMJ) listed in December last year. The company announced early in February the intention to acquire a 'world class' potash asset (02/02/2011 Share price $0.38), late February FMJ signs head of agreement to acquire potash assets in Kazakhstan (23/02/2011 Share price $1.49) and then the share price hits a high of $3.98 on 03/03/2011.
Thursday, April 28, 2011
Speewah Metals Research Report
- Alpha Securities has released a research report on Speewah Metals (SPM)
- Research report dated 21/04/2011
- SPM last trade: $0.28 (28/04/2011)
- Research link
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