BC, I think if RSG can break 60c convincingly & gold does have a breakout which I am more & more convinced it will, then I see it trading close to a buck before running into any major resistance.
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BC, I think if RSG can break 60c convincingly & gold does have a breakout which I am more & more convinced it will, then I see it trading close to a buck before running into any major resistance.
Geez that is a worry as they have a very large 26m shares .. after last major sale of 8.2 mill so they may be still selling in smaller amount should have to update the market as a 17% share holder by ASIC laws I thought .....maybe it's someone else seem's like one hell of a stupid time to be reducing your position while the PM explorers are so out of favour later this year they should well get twice the amount for there shares
JB, they were quite open about their exit of SOC & the reasons were completely unrelated to SOC other than they need the funds they had invested. Yeah you do have to update the market at a certain point. I know one is when you have over 5% or reduce below that, I'm not sure where the other reporting hurdles are in regards percentage ownership in a company. Does anyone else know?
Just took profit on my RSG stake, thought about it yesterday & would have done slightly better, however, 25% in about a week isn't bad.
I have the feeling gold is due for a pullback otherwise I would have stayed in. Will be looking to buy back in if get the chance. In the meantime I have just picked up some more SOC at 13.5c, averaging down can be a dangerous game, however the drill results must be due any day now & think it could be opportune. Cheers Daytr
Yes, I also like the look of SOC at these prices but have enough already. I've bought instead some more WAF, on the strength of their press release this morning. I'm getting less interested in miners with low grades, and more interested in miners with high grades, and these look quite respectable.
15m @ 4.7g/t Au from 17m, including 7m @ 9.2g/t Au.
Yep that's certainly nice grades BC.
I've decided to hang onto RSG, mainly 'cause of what I see on their chart. Previous resistance at 64 c was broken yesterday. Next resistance is ~70c and so I'll be more likely to sell just south of that.
With SOC, there are fewer hands shown on the Offer side than hands shown on the Bid side, which is encouraging. Either our seller has had a change of mind OR they are waiting for the bid support to build up again OR they are satisfied with what they sold off these past weeks (selling down all the way to 11c (!) a week ago). There's solid support at 13c and so buying more at 13.5 is IMO a very safe purchase.
I would say Daytr, that you've actually bought early into an upward trend. We should know more surely by this time next week.
BC
Have thrown a small order into SOC at 13c. Hopefully it strikes sometime today...
I picked up a further number at 13c so I am guessing you probably did too :)
Now that's just showing off ! haha
Moosie, I know them very well as I did business with them over a 10-12 year period & the same people are still there. They haven't always performed as a team as well as you would like & they struggled for years with an under water hedge book & then were one of the last to close out their hedging as well, so it cost them a bomb. They did do a share buy back & now they are looking to borrow money for a mine development, so they don't always have the best foresight either. In saying all that, they have operated some pretty difficult mines & also built quite a few in Africa & Australia successfully so they have a reasonable track record in that. What I like about them now is their production profile is growing, they have plenty of reserves & they seem to be doing things better generally as aren't distracted by things like the hedge book. They are also straight shooters. Greg Fitzgerald the CFO is as straight as they come & a very nice guy to boot. I only got out of them today as I think the POG will pull back, otherwise I would have hung on. I could be wrong but I was happy with the profit I made. I will look to re-enter at some point though. Hope it helps. Cheers Daytr
Hi Clip, yes got in thanks... we shall see how the trend plays out. Happy to hold a bit longer term.
Geez getting real sick of watching PGI move to 5c 25%+ while SOC looks like a dog with no love and moves to the downside ...Gutted :( back that up with my move into CFE doing the same will ROC increases......
Yep it is a bit disheartening heh. the next PMR results can't come soon enough!