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.
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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