Member Info for guzzler1962

8hrs 21 minutes time

http://www.proactiveinvestors.co.uk/companies/news/193485/expanding-down-under-glencore-paying-us17bn-for-more-of-rio-tinto-s-coal-operations-in-australia-193485.html

I'm not questioning the fundamentals. I'm giving my opinion of why this rose to 0.7p and now sits at 0.33p after what appears to be positive news flow. People were lured in on a promise that this was a multi bagger on the news of money in the bank. It didn't happen, hence the selling.

Reggie, you keep referencing a seller, and that this was at 0.7p not long ago. Why do you think we were at 0.7p and why do you think we are where we are now? People were buying heavily, it's low free float so the price went up. They were buying, some on T20s in anticipation of money going in the bank which would result in a multi bagger. It didn't happen, the realisation that this is now a bottom drawer investment and not a quick play as promised has led to selling. If the resource is good enough we will make money, it all depends on the individual as to whether they have the patience to sit it out. AIMO. GLA.

People were promised money in the bank, it's why they piled in. It hasn't happened so they have left.

I think its unrealistic to expect the full $33M to go in the bank. But if a couple of million was transferred to cover the program and any unforeseen costs then that would be a show of confidence in my opinion.

Yesterday and today I've been able to get a quote to sell the lot. That's not the norm.

So the cost of the program is A$1.5M, and we have funding of A$33M available???

Out

On February 1st we received a business update and NL said this.... The Company is now waiting for a senior member of the board of the Joint Venture Company, who is currently hospitalised, to return to work to enable the MoU to be finalised. 24 hours later a non binding MOU was signed. Then on the 26th of February NL reported this...... I am finally pleased to be able to report that Mr Zhang, Chairman of Altona, has recovered following his hospitalisation and has resumed his role of contact and liaison with our joint venture partner, Sino-Aus Energy Group Ltd. Does anybody else think this odd? Within 24 hours of reporting we were not in a position to sign the MOU a non binding MOU was signed. Was it signed to try and underpin the SP because a delay on AIM is normally received badly? It clearly didn't work. But now, with Mr Zhang back to health, Nick Lyth travels back to China. Has he travelled to conclude unfinished business? Was the initial meeting trying to secure cash in the bank and negotiations have resumed? Anybody else have a take on this?

This time last year the price was 3.4p. It's around this price I started to take a position. I watched it intently trying to time an entry, the price jumped from around 3.1p to 3.4p in the last half hour of trading. I later learned the jump was due to a tweet that news was due next day. News didn't land the next day. So what news was expected that was getting everyone excited? 20p by the summer they said. Take your pick. Leeching results reducing costs by 60%. A deal with a Russian oil and gas major. Lithium resource and even another premium placing at 6.5p. People were lured in, and with big money too. What did we get? A revised drilling program ffs. Adams buying and the options gave us hope, even the financials said �2M in the bank and briefly it hit 1.6p, but it's all been false hope. I really hope the pain is over and the bottom has been hit because those that have kept the faith deserve much much more than this continual drop. GLA

Dabbler, gutted for you. This has been a very expensive lesson for us. Hope you make back your losses. I'm told regularly I'm not the only one to get burnt here, which I know to be correct, but it's scant consolation. Good luck.

Looks like someone is taking a position. Have heard a rumour NL is in China.

0.4p paid which means the ask has risen 30% in a couple of days. The bid is still rubbish. All very strange.

Is somebody loading up? Has led to some movement at least. Wouldn't surprise me if it's someone who bailed on the MOU re entering.

It's a bit strange the 4 million buy at 0.32 isn't showing on vox.

Playa del Carmen was awash with stinking seaweed in the summer. Similar smell to this :(

Really? I can't get anywhere near that price. One 0.3 trade is definitely a sell.

Very strange today, lots of sells at 0.3 but they raise the ask?

Eaton Equities is Zorbas