GGY went up 20% this morning before people start to take profit and (off course) the share price retreated back. Now, I don't want to make an 'if and then' presumption, but the only thing that prevented me from selling them this morning is the brokerage fees. I wasn't very happy yesterday when I found out that I paid too much money for my broker.. (This is in my standard of course..).. It's proven now that my knowledge on the trading method is as green as I am to the share trading.
It's quite a good day for my portfolio today.. I'm still trying to off load my MMN holdings.. price still a little low. Hopefully it will be filled by the end of the day..
Oxiana will be finished it's XD status tommorrow. PNA is looking good - and I am thinking, due to it's similarity in their nature, I would swap my OXR to PNA.
DYL still on the run, will be watching it closely to top up my holding.
Huge volume was traded for TGR. They're just announce their DRP share issues. TGR is 2 cents lower at this moment.
Trading Account
I just realise that I'm paying too much of brokerage fees lately (over $1000 is too much for me...) Too many activities, buying and selling for a small profit (I guess it's time for me to review my trading style....)
The broker must be very happy with me :(
I'm still looking around for good investments, and I guess I'm quite comfortable with few of them now. I'm thinking to off load my holdings at MMN and OGD next week. I don't feel comfortable with so much exposure on Gold and Silver. Then again, I have to pay another broker fees :(
The broker must be very happy with me :(
I'm still looking around for good investments, and I guess I'm quite comfortable with few of them now. I'm thinking to off load my holdings at MMN and OGD next week. I don't feel comfortable with so much exposure on Gold and Silver. Then again, I have to pay another broker fees :(
A Good Lesson to Learn
Yesterday afternoon, Thor was closed nearly 20% lower.
My exposure on Thor is around 3.5% of my total portfolio, and from the time I bought the share about a week ago, the decline is around 12%.
It is not too much of a disaster, yet give me a good lesson and experience on turbularity of the share market.
There's an article on today's the Australian about Thor, however what's behind the pull out is still a question. A lot of maybes, a lot of perhaps. Here it is:
Where to now for Thor after Chinese snub?
April 27, 2007
WHILE the uranium world keeps its fingers crossed for a change of heart from the Australian Labor Party this weekend on uranium mining, at least one yellowcake hopeful will be a little less enthusiastic about the decision.
Perth-based junior Thor Mining got a real kick in the guts on Thursday when it found out that its Chinese partner had pulled out of the partnership to develop its Molyhil project in the Northern Territory.
But in a slap in the face, Hunan Nonferrous Metals couldn't even pick up the phone to tell Thor, if media reports are to be believed.Hunan, one of the world's biggest non-ferrous metal companies, is believed to have faxed Thor of its intentions to withdraw from the project. No explanation was given. The Memorandum of Understanding and the exclusivity agreement Thor and Hunan signed just last month is now dead in the water.
It also puts into doubt several other confidential agreements Thor had with other parties who were hoping that Hunan would still be in the picture. Perhaps the writing was on the wall on April 13 when Hunan asked for an extension for its period of due diligence over Molyhil. Hunan was to have had until April 15 to do its due diligence, but informed Thor two days earlier that it needed until the end of April. Thor agreed, and also postponed the date for completion of commercial negotiations until May 11."Thor and Hunan continue to work closely together on the outstanding due diligence matters and Thor is optimistic that all outstanding matters will be resolved," is how chief executive John Young put it at the time.
But perhaps it was the recent release of drilling update at Molyhil which upset Hunan, but that is unlikely.After a stuff-up in which Thor signed off on the statement without the "Competent Persons" statement on Thursday, it issued a corrected version today, just before it advised that Hunan had jumped ship. Extension drilling of the current JORC-compliant resource, 2.4 million tonnes grading 0.8 per cent comprising 0.8 per cent combined tungsten oxide and molybdenum, showed combined tungsten-molybdenum grades better than 1 per cent."The reverse circulation drilling program comprising 25 holes drilled for 2586 metres has identified extensions of the mineralisation outside of the current mining reserve and is expected to lay the foundations for an increase in the resource and reserve inventory at Molyhil," Thor said."Thor's board believes that the completion of a revised JORC resource is critical in establishing more accurate project valuations, which will ultimately have an effect on commercial negotiations regarding financing and off-take terms."Mr Young said he expected the completion of a new pit optimisation study by Australian Mining Consultants to be finished by "mid-year". Maybe Hunan couldn't wait any longer.
Hunan's departure is a big blow to Thor. It now has to look for other partners to fund and develop Molyhil. A start up at Molyhil is essential to get some dollars in the bank to advance its uranium assets which are also in the Northern Territory. Just like Thor's share price rocketed when Hunan came knocking in March, it has also dived when the market found out about its departure.It is all about where to now for Thor to restore the investor faith.
My exposure on Thor is around 3.5% of my total portfolio, and from the time I bought the share about a week ago, the decline is around 12%.
It is not too much of a disaster, yet give me a good lesson and experience on turbularity of the share market.
There's an article on today's the Australian about Thor, however what's behind the pull out is still a question. A lot of maybes, a lot of perhaps. Here it is:
Where to now for Thor after Chinese snub?
April 27, 2007
WHILE the uranium world keeps its fingers crossed for a change of heart from the Australian Labor Party this weekend on uranium mining, at least one yellowcake hopeful will be a little less enthusiastic about the decision.
Perth-based junior Thor Mining got a real kick in the guts on Thursday when it found out that its Chinese partner had pulled out of the partnership to develop its Molyhil project in the Northern Territory.
But in a slap in the face, Hunan Nonferrous Metals couldn't even pick up the phone to tell Thor, if media reports are to be believed.Hunan, one of the world's biggest non-ferrous metal companies, is believed to have faxed Thor of its intentions to withdraw from the project. No explanation was given. The Memorandum of Understanding and the exclusivity agreement Thor and Hunan signed just last month is now dead in the water.
It also puts into doubt several other confidential agreements Thor had with other parties who were hoping that Hunan would still be in the picture. Perhaps the writing was on the wall on April 13 when Hunan asked for an extension for its period of due diligence over Molyhil. Hunan was to have had until April 15 to do its due diligence, but informed Thor two days earlier that it needed until the end of April. Thor agreed, and also postponed the date for completion of commercial negotiations until May 11."Thor and Hunan continue to work closely together on the outstanding due diligence matters and Thor is optimistic that all outstanding matters will be resolved," is how chief executive John Young put it at the time.
But perhaps it was the recent release of drilling update at Molyhil which upset Hunan, but that is unlikely.After a stuff-up in which Thor signed off on the statement without the "Competent Persons" statement on Thursday, it issued a corrected version today, just before it advised that Hunan had jumped ship. Extension drilling of the current JORC-compliant resource, 2.4 million tonnes grading 0.8 per cent comprising 0.8 per cent combined tungsten oxide and molybdenum, showed combined tungsten-molybdenum grades better than 1 per cent."The reverse circulation drilling program comprising 25 holes drilled for 2586 metres has identified extensions of the mineralisation outside of the current mining reserve and is expected to lay the foundations for an increase in the resource and reserve inventory at Molyhil," Thor said."Thor's board believes that the completion of a revised JORC resource is critical in establishing more accurate project valuations, which will ultimately have an effect on commercial negotiations regarding financing and off-take terms."Mr Young said he expected the completion of a new pit optimisation study by Australian Mining Consultants to be finished by "mid-year". Maybe Hunan couldn't wait any longer.
Hunan's departure is a big blow to Thor. It now has to look for other partners to fund and develop Molyhil. A start up at Molyhil is essential to get some dollars in the bank to advance its uranium assets which are also in the Northern Territory. Just like Thor's share price rocketed when Hunan came knocking in March, it has also dived when the market found out about its departure.It is all about where to now for Thor to restore the investor faith.
Tungsten - Molybdenum
I own small amount of shares in Thor Mining (THR.ASX), one resource company who's dealing with Tungsten - Molybdenum. I didn't have any clues of what is tungsten or molybdenum - hardly ever heard about it :)
Anyway, they are quite interesting minerals, so here's some facts:
Tungsten (W) is a metal with a wide range of uses, the largest of which is as tungsten carbide in cemented carbides. Cemented carbides (also called hardmetals) are wear-resistant materials used by the metalworking, mining, and construction industries. Tungsten metal wires, electrodes, and/or contacts are used in lighting, electronic, electrical, heating, and welding applications. Tungsten is also used to make heavy metal alloys for armaments, heat sinks, and high-density applications, such as weights and counterweights; superalloys for turbine blades; tool steels; and wear-resistant alloy parts and coatings. Tungsten composites are used as a substitute for lead in bullets and shot. Tungsten chemical compounds are used in catalysts, inorganic pigments, and high-temperature lubricants.
Molybdenum (Mo) is a refractory metallic element used principally as an alloying agent in steel, cast iron, and superalloys to enhance hardenability, strength, toughness, and wear and corrosion resistance. To achieve desired metallurgical properties, molybdenum, primarily in the form of molybdic oxide or ferromolybdenum, is frequently used in combination with or added to chromium, columbium (niobium), manganese, nickel, tungsten, or other alloy metals. The versatility of molybdenum in enhancing a variety of alloy properties has ensured it a significant role in contemporary industrial technology, which increasingly requires materials that are serviceable under high stress, expanded temperature ranges, and highly corrosive environments. Moreover, molybdenum finds significant usage as a refractory metal in numerous chemical applications, including catalysts, lubricants, and pigments. Few of molybdenum's uses have acceptable substitutions.
Source: USGS Homepage
Anyway, they are quite interesting minerals, so here's some facts:
Tungsten (W) is a metal with a wide range of uses, the largest of which is as tungsten carbide in cemented carbides. Cemented carbides (also called hardmetals) are wear-resistant materials used by the metalworking, mining, and construction industries. Tungsten metal wires, electrodes, and/or contacts are used in lighting, electronic, electrical, heating, and welding applications. Tungsten is also used to make heavy metal alloys for armaments, heat sinks, and high-density applications, such as weights and counterweights; superalloys for turbine blades; tool steels; and wear-resistant alloy parts and coatings. Tungsten composites are used as a substitute for lead in bullets and shot. Tungsten chemical compounds are used in catalysts, inorganic pigments, and high-temperature lubricants.
Molybdenum (Mo) is a refractory metallic element used principally as an alloying agent in steel, cast iron, and superalloys to enhance hardenability, strength, toughness, and wear and corrosion resistance. To achieve desired metallurgical properties, molybdenum, primarily in the form of molybdic oxide or ferromolybdenum, is frequently used in combination with or added to chromium, columbium (niobium), manganese, nickel, tungsten, or other alloy metals. The versatility of molybdenum in enhancing a variety of alloy properties has ensured it a significant role in contemporary industrial technology, which increasingly requires materials that are serviceable under high stress, expanded temperature ranges, and highly corrosive environments. Moreover, molybdenum finds significant usage as a refractory metal in numerous chemical applications, including catalysts, lubricants, and pigments. Few of molybdenum's uses have acceptable substitutions.
Source: USGS Homepage
DYL and GGY
I sold my Glengarry (GGY.ASX) and half of my Deep Yellow (DYL.ASX) holdings on Tuesday. The price was very attactive, and I made around 30% gain on both holding. Price retraced a bit by the end of the day on Tuesday. Planned to pick them up on Thursday morning (no trading on Wednesday due to Anzac Day)
Now, however, I'm afraid that I have made a mistake.. GGY and DYL's share prices are on the run this morning.
Now, however, I'm afraid that I have made a mistake.. GGY and DYL's share prices are on the run this morning.
I Like (this) Monday
This morning started with all my share portfolio on the green side. Quite a relieve, as last week, my portfolio was in a real mix or green and red. Nothing was exceptional, except for GGY who went up nearly 15%. Went to the playground with the kids, and then off to Carrefour to pick up some groceries. By the time I got back, market was already closed.
This is what happenned to my portfolio today:
Code Move % Move
DYL $0.085 15.32
GGY $0.02 11.11
HZN $0.005 1.67
IBA $0.005 0.39
MMN $0.00 0.00
OGD $0.035 4.58
OXR $0.06 1.99
THR $0.06 15.00
GIR $0.04 5.26
IDL $0.02 4.49
TGR $0.06 1.98
Thinking of exiting some shares. but will figure out what has happenned first. This is not my usual Monday.
This is what happenned to my portfolio today:
Code Move % Move
DYL $0.085 15.32
GGY $0.02 11.11
HZN $0.005 1.67
IBA $0.005 0.39
MMN $0.00 0.00
OGD $0.035 4.58
OXR $0.06 1.99
THR $0.06 15.00
GIR $0.04 5.26
IDL $0.02 4.49
TGR $0.06 1.98
Thinking of exiting some shares. but will figure out what has happenned first. This is not my usual Monday.
A Complete Mess
There is one way to describe today's trading: it was a mess!
Exited KIM the diamond producer this afternoon, as their price went out of control despite a good announcement of their production increase. Secondly, I missed DYL peak. It went right up to $0.60, and by the time I put my sell order, price already down to $0.55.
Thirdly, other than GIR and TGR (by the way, I entered their market again yesterday), all my shares were at the red zone. And lastly, managed to pick up some THR, which put me into my worst roller coaster ride. THR was down 15% before it went back up to around 0.45 (I picked them at $0.415 per share). Now it's on a trading halt!!
Exited KIM the diamond producer this afternoon, as their price went out of control despite a good announcement of their production increase. Secondly, I missed DYL peak. It went right up to $0.60, and by the time I put my sell order, price already down to $0.55.
Thirdly, other than GIR and TGR (by the way, I entered their market again yesterday), all my shares were at the red zone. And lastly, managed to pick up some THR, which put me into my worst roller coaster ride. THR was down 15% before it went back up to around 0.45 (I picked them at $0.415 per share). Now it's on a trading halt!!
Exited Tassal (TGR.ASX)
Exited Tassal Group this afternoon, but will definitelly come back again if it possible. I bought few TGR shares nearly two months ago at $2.29 per share. Sold today at $2.89 per share (around 25% gain). The share price movement of this share in a day is quite amazing. Started on the green side, and then plunged down 14 cents, only to go up again on the green side by the end of the day.
Reenter DYL yesterday at $0.49 (a decision which is questioned by my banker aka husband), not very sure of it myself, as it was a relief to get out of DYL. It closed today at $0.505.
Not sure what's going on with KIM, it posted a good quarter report today, but the share price keeps going down... I hope it will be up soon, otherwise I have to bail out from this one.. Diamond is (not) forever!
Giralia, it went down more than 11 % today, after a trading halt. GIR made a share placement to "sophisticated investors and institutions" at 0.78 per share. It closed at 0.815 this afternoon... Suppose I'm lucky to get out just 1 hour before the halt! Will see if I can enter GIR on Monday.
Reenter DYL yesterday at $0.49 (a decision which is questioned by my banker aka husband), not very sure of it myself, as it was a relief to get out of DYL. It closed today at $0.505.
Not sure what's going on with KIM, it posted a good quarter report today, but the share price keeps going down... I hope it will be up soon, otherwise I have to bail out from this one.. Diamond is (not) forever!
Giralia, it went down more than 11 % today, after a trading halt. GIR made a share placement to "sophisticated investors and institutions" at 0.78 per share. It closed at 0.815 this afternoon... Suppose I'm lucky to get out just 1 hour before the halt! Will see if I can enter GIR on Monday.
Oceana Gold (OGD.ASX)
I bought some OGD shares this morning. Kids were nagging me with their TMNT toys, and I ended up in a bit of a messy place. Anyway, my buy order went through before I could amend or cancel it. My entry price was $0.76 per share.
Oceana Gold Limited (Oceana Gold) is a significant gold producer and one of the largest in Australasia. Oceana Gold's principal operations are in the South Island of New Zealand, where the Company has dominant land holdings in two major goldfields –- Macraes and Reefton, and the Philippines, where the Company holds a portfolio of development and exploration activities.
With three new projects scheduled for commissioning by 2008, OceanaGold will increase its current production from ~180,000 gold ounces per annum to a rate of approximately 550,000 gold equivalent ounces per annum.
Oceana Gold Limited (Oceana Gold) is a significant gold producer and one of the largest in Australasia. Oceana Gold's principal operations are in the South Island of New Zealand, where the Company has dominant land holdings in two major goldfields –- Macraes and Reefton, and the Philippines, where the Company holds a portfolio of development and exploration activities.
With three new projects scheduled for commissioning by 2008, OceanaGold will increase its current production from ~180,000 gold ounces per annum to a rate of approximately 550,000 gold equivalent ounces per annum.
Exited Giralia
I sold Giralia for 90.5 cps (cents per share) this morning. Bought them at 69 cps, with a plan to sell when they reach 89 cps. Feel a bit hard to part with GIR, but I guess this is a good chance to learn to stick to the plan. Gain is around 31%. I am still watching the share price movement, hopefully will have a chance to reenter.
Note: There was a trading halt announcement just after I sold mine.. It will be open again on Friday. Watching it with interest.
Note: There was a trading halt announcement just after I sold mine.. It will be open again on Friday. Watching it with interest.
Exited DYL
I sold all my DYL holding this morning for $0.505 per share. Bought them a while ago at $0.41 and $0.48 per share. I hope I didn't sell them too early (unfortunately, I usually do...). There is still no news on the drilling in Namibia, which was said to be done around Easter. I'm still watching this stock and might consider to enter again at the right price (if there's any).
Also bought some HZN.ASX (Horizon Oil) share this morning for $0.305 per share. I was a little bit unsure of buying into Oil and Gas, but this one seems to be ok.
I am afraid I've also missed out AGM. It is already up around 10 cents since I tried to buy it and missed.
Also bought some HZN.ASX (Horizon Oil) share this morning for $0.305 per share. I was a little bit unsure of buying into Oil and Gas, but this one seems to be ok.
I am afraid I've also missed out AGM. It is already up around 10 cents since I tried to buy it and missed.
The Ox is Charging?
Oxiana (OXR.ASX) was up another 10 cents today, closing up to $3.13. So tempted to sell and secure some profit before it going back down. Or maybe it was just a start?
This article from the 'Sydney Morning Herald' is one day old, but still quite nice to read, it gives me (at least) an idea:
Feverish trade suggests Oxiana is in play
Jamie Freed - April 5, 2007
ABOUT 10 per cent of shares in mid-tier miner Oxiana changed hands yesterday, adding fuel to perennial speculation of a takeover bid for the $4.2 billion company led by former Rio Tinto executive Owen Hegarty.
Oxiana shares rocketed 21c, or 7.5 per cent, to $3.03.
Sydney broker Southern Cross Equities was responsible for 40 per cent of the $442 million of trading, according to Bloomberg. This would give the broker a near-substantial stake on behalf of a client. Southern Cross's senior director of institutional broking, Charlie Aitken, was unavailable last night.
More than 28 million shares changed hands in one trade at about 3pm, leading to chatter that US gold company Newmont Mining had sold the Oxiana shares it picked up through the Australian's recent scrip bid for Agincourt Resources. Newmont had held Oxiana shares on two prior occasions through other deals and sold them both times.
Heavy buying followed, with multiple parcels of more than 1 million shares each changing hands between 4pm and 4:10pm. Oxiana, which mines copper, zinc, gold and other metals, has long been deemed a prime takeover candidate for several suitors due to its quality assets and open share register. Canada's Teck Cominco, Zinifex and Anglo-Swiss miner Xstrata have been mentioned as likely buyers. But Xstrata last week made a similar-sized bid for Canadian nickel miner LionOre.
There were market rumours last night that UK-listed mining giant Anglo American, which recently appointed a more aggressive chief executive, Cynthia Carroll, could be linked to the heavy buying in Oxiana. London-based Anglo spokeswoman Kate Aindow said her company never commented on speculation.
Before the heavy trading yesterday, Deutsche Bank analysts upgraded Oxiana to a "buy". In an afternoon report, Goldman Sachs JBWere's institutional dealing desk said it had not heard who purchased Newmont's stake, but added it was bullish on Oxiana."Oxiana has $750 million of cash on the balance sheet by next year and very little debt," Goldman Sachs JBWere said. "[We're] happy to keep buying Oxiana at these levels."
This article from the 'Sydney Morning Herald' is one day old, but still quite nice to read, it gives me (at least) an idea:
Feverish trade suggests Oxiana is in play
Jamie Freed - April 5, 2007
ABOUT 10 per cent of shares in mid-tier miner Oxiana changed hands yesterday, adding fuel to perennial speculation of a takeover bid for the $4.2 billion company led by former Rio Tinto executive Owen Hegarty.
Oxiana shares rocketed 21c, or 7.5 per cent, to $3.03.
Sydney broker Southern Cross Equities was responsible for 40 per cent of the $442 million of trading, according to Bloomberg. This would give the broker a near-substantial stake on behalf of a client. Southern Cross's senior director of institutional broking, Charlie Aitken, was unavailable last night.
More than 28 million shares changed hands in one trade at about 3pm, leading to chatter that US gold company Newmont Mining had sold the Oxiana shares it picked up through the Australian's recent scrip bid for Agincourt Resources. Newmont had held Oxiana shares on two prior occasions through other deals and sold them both times.
Heavy buying followed, with multiple parcels of more than 1 million shares each changing hands between 4pm and 4:10pm. Oxiana, which mines copper, zinc, gold and other metals, has long been deemed a prime takeover candidate for several suitors due to its quality assets and open share register. Canada's Teck Cominco, Zinifex and Anglo-Swiss miner Xstrata have been mentioned as likely buyers. But Xstrata last week made a similar-sized bid for Canadian nickel miner LionOre.
There were market rumours last night that UK-listed mining giant Anglo American, which recently appointed a more aggressive chief executive, Cynthia Carroll, could be linked to the heavy buying in Oxiana. London-based Anglo spokeswoman Kate Aindow said her company never commented on speculation.
Before the heavy trading yesterday, Deutsche Bank analysts upgraded Oxiana to a "buy". In an afternoon report, Goldman Sachs JBWere's institutional dealing desk said it had not heard who purchased Newmont's stake, but added it was bullish on Oxiana."Oxiana has $750 million of cash on the balance sheet by next year and very little debt," Goldman Sachs JBWere said. "[We're] happy to keep buying Oxiana at these levels."
Kimberley Diamond Company
"...Hey, Habibi, I bought you a diamond company!..." Gee... How ridiculous does that sound.
So I bought some shares of Kimberley Diamond Company (KIM.ASX) this morning, very attracted by it's considerably low price (at the moment). Entry price was $0.815 per share. The company seems to go ok, with strong sales in diamonds and all, but somehow the share price went down wildly. I hope this was a good buy, not catching a falling dagger.
Kimberley Diamond Company is an independent diamond producer listed on the Australian Stock Exchange with its corporate headquarters based in Perth, Western Australia. Kimberley's focus is mining and marketing high-value rough diamonds from its 100%-owned Ellendale Mining Operations, located some 2,000 km north of Perth in Western Australia's Kimberley region.
Commenced commercial diamond mining and marketing operations in mid-2002, Kimberley is one of only two diamond producers in Australia and is rapidly expanding its production base at the Ellendale Lamproite Field - where it controls resources containing more than 5.6 million carats.
Kimberley also holds a 55% interest in the ASX-listed diamond explorer Blina Diamonds NL, which controls a high-quality 1,800 km2 tenement package covering and surrounding the central core of the Ellendale Field, including 50 identified lamproite pipes and a number of diamondiferous alluvial channels.
Major Shareholders: AMP Limited, Merril Lynch & Co, Inc , JP Morgan Chase and Co
So I bought some shares of Kimberley Diamond Company (KIM.ASX) this morning, very attracted by it's considerably low price (at the moment). Entry price was $0.815 per share. The company seems to go ok, with strong sales in diamonds and all, but somehow the share price went down wildly. I hope this was a good buy, not catching a falling dagger.
Kimberley Diamond Company is an independent diamond producer listed on the Australian Stock Exchange with its corporate headquarters based in Perth, Western Australia. Kimberley's focus is mining and marketing high-value rough diamonds from its 100%-owned Ellendale Mining Operations, located some 2,000 km north of Perth in Western Australia's Kimberley region.
Commenced commercial diamond mining and marketing operations in mid-2002, Kimberley is one of only two diamond producers in Australia and is rapidly expanding its production base at the Ellendale Lamproite Field - where it controls resources containing more than 5.6 million carats.
Kimberley also holds a 55% interest in the ASX-listed diamond explorer Blina Diamonds NL, which controls a high-quality 1,800 km2 tenement package covering and surrounding the central core of the Ellendale Field, including 50 identified lamproite pipes and a number of diamondiferous alluvial channels.
Major Shareholders: AMP Limited, Merril Lynch & Co, Inc , JP Morgan Chase and Co
New Addition!
I bought some Macmin Silver Ltd (MMN.ASX) shares this morning. Entry price was $0.32 per share. I hope it was a good price. I started from $0.315, but there was a huge buy order just before mine. I'm not sure how big exactly, but by the time I saw it, it was still well over 1 million shares. And not many sellers around! MMN closed at $0.32 this afternoon.
I also bought some of GLENGARRY RESOURCES LIMITED (GGY.ASX) shares. Another Miners. Entry price was $0.175 per share. Seems to be an interesting day for Glengarry. Missed it for Lunch! GGY closed at $0.185 this afternoon.
Macmin Silver Ltd (MMN) is a minerals exploration and development company focused on silver and gold in Australia. The company's main project is the Texas Silver Project, located in southern Queensland. The company also has a substantial investment in a New Guinea based gold exploration company. Click here for more story of MMN.
Glengarry Resources Limited (GGY) is a Perth-based junior minerals exploration company with operations in Australia. GGY's primary focus is on the Greenvale project in Qld.
I also bought some of GLENGARRY RESOURCES LIMITED (GGY.ASX) shares. Another Miners. Entry price was $0.175 per share. Seems to be an interesting day for Glengarry. Missed it for Lunch! GGY closed at $0.185 this afternoon.
Macmin Silver Ltd (MMN) is a minerals exploration and development company focused on silver and gold in Australia. The company's main project is the Texas Silver Project, located in southern Queensland. The company also has a substantial investment in a New Guinea based gold exploration company. Click here for more story of MMN.
Glengarry Resources Limited (GGY) is a Perth-based junior minerals exploration company with operations in Australia. GGY's primary focus is on the Greenvale project in Qld.
Index Fall, DYL Rise!
ASX was in the a bold red today, index down more than 70 points. Thanks God, most of shares in my portfolio are in the green side (except IBA down $0.005 and CBH unchanged). A jitter on the upcoming interest rate hike?
Despite to fall of the index, DYL made a big jump today, up 6 cents or 14.46 %, and GIR also up 6 cents or 7.50 %. Oh, and again another 6 cents up (3.32%) from TGR.
Apparently, Dr Pretorius said in Adelaide that drilling in Namibia starts after Easter (thats when the drill rig is booked in). So, when is Easter?
Despite to fall of the index, DYL made a big jump today, up 6 cents or 14.46 %, and GIR also up 6 cents or 7.50 %. Oh, and again another 6 cents up (3.32%) from TGR.
Apparently, Dr Pretorius said in Adelaide that drilling in Namibia starts after Easter (thats when the drill rig is booked in). So, when is Easter?
GIR's Zinc Co. Spin Off
All the talk in GIR.ASX at this moment is about their Zinc Co's Spin Off. I did not really know what actually these people are talking about, but looking at the share price, it seems to be a good thing for shareholder. I bought GIR about a month ago for $0.69 per share. It went down to $0.61 before it bounched back to (now) $ 0.83. I should have bought more, but I think the train have left the station now.
Searched on the internet, I found out a few facts about spin off:
Searched on the internet, I found out a few facts about spin off:
- A spin-off is an attractive option when a company and its stakeholders realize that one or more of its subsidiaries are more valuable as a separate entity than as part of the parent corporation. Spinning off a business rewards investors because it makes it easier for the markets to recognize the full value of a smaller entity eclipsed by larger organization. It can also help a parent company exit non-essential businesses and focus on its core competencies.
- In a "spin-off," a parent company distributes shares of a subsidiary on a pro rata basis to the parent company's shareholders. As a result, the subsidiary becomes a separate company. State law and the rules of the stock exchanges determine whether a company must seek shareholder approval for a spin-off.
Will wait and see, what is going to happen to Giralia's share, once the announcement is released. (Yes, it hasn't been released yet... )
Portfolio Update
I sold all my IDL.ASX (Industrea Ltd) shares, on Friday afternoon. Bought them a couple months ago for $0.305 per share. Selling price was $0.405 per share (around 30% gain?).
Here's my portfolio update as of 1st April 2007: IBA, TGR, OXR, DYL, CBH, GIR ...
It was quite interesting to watch Giralia's movement last week. It started the week at $0.75 only to fall 7.3% on the next day. It went up again for the rest of the week to close at $0.80. Pretty!
Hoping to get DYL up again before off-load them. PDN is moving up nicely, and I guess there are some sort of coat-tail effect to DYL. There was also an announcement on Friday, that PDN bought 10 million of DYL shares off the market. This was because their stake was diluted to under 10% by DYL's new capital raising. It apparently important to keep the stake above 10% to block any take over attemps. Have to look again on this one, but hopefully future is better for DYL, as Queensland govt also changed their policy on uranium mining on the Sunshine State.
TGR still quite solid. Few ups and down, but doesn't seem to be in trouble.
CBH, what could I say... It has been hovering at around $0.50- $0.51.. Well at least still on the (very light) green side.
OXR, not sure what's happening... Gold price meant to be up, but the Ox has been down. Ex dividend date is coming on the 11th of April 2007.
And last, IBA was on the red.. Not a red alert yet, but getting there! (I seriously hope not, of course), but last news from iSoft takeover wasn't very pretty....
Hope still see some green days in April (if the war hasn't started yet..).
Happy investing to all!
Here's my portfolio update as of 1st April 2007: IBA, TGR, OXR, DYL, CBH, GIR ...
It was quite interesting to watch Giralia's movement last week. It started the week at $0.75 only to fall 7.3% on the next day. It went up again for the rest of the week to close at $0.80. Pretty!
Hoping to get DYL up again before off-load them. PDN is moving up nicely, and I guess there are some sort of coat-tail effect to DYL. There was also an announcement on Friday, that PDN bought 10 million of DYL shares off the market. This was because their stake was diluted to under 10% by DYL's new capital raising. It apparently important to keep the stake above 10% to block any take over attemps. Have to look again on this one, but hopefully future is better for DYL, as Queensland govt also changed their policy on uranium mining on the Sunshine State.
TGR still quite solid. Few ups and down, but doesn't seem to be in trouble.
CBH, what could I say... It has been hovering at around $0.50- $0.51.. Well at least still on the (very light) green side.
OXR, not sure what's happening... Gold price meant to be up, but the Ox has been down. Ex dividend date is coming on the 11th of April 2007.
And last, IBA was on the red.. Not a red alert yet, but getting there! (I seriously hope not, of course), but last news from iSoft takeover wasn't very pretty....
Hope still see some green days in April (if the war hasn't started yet..).
Happy investing to all!
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