VTI - Virtec International

[bongo]

the star is born :D

[Joe Blow]

Thanks for joining us Bongo!

Yes, VTI did very well today!

Do you anticipate further gains?

[bongo]

yes, price should go up as contracts are announced and there are few of them according to rumours ;)

[bongo]

From The Telegraph (in UK) this morning:
"Virotec the water and sewage treatment group, which last wee khad the effectiveness of its technology confirmed by the US Environment Protection Agency, gained a further 2.75p to 31.75 on volumes of 10.4m shares. Traders said the company met with new institutions yesterday." :)

[ghotib]

Two announcements since the last post on this thread, and the stock has risen nicely. If you happen to hold it >:(

I'd appreciate chartists thoughts on how VTI looks if there are no further announcements. I put in a bid at 0.61 about 19th July, just before the latest announcement triggered the latest jump. My offer price was based on my reading of 2 months RSI and Chaikin MM, two of the indicators available from ComSec. Today's close was 0.70, and when I look at the same indicators it seems to me that the potential is slightly up.

I'd like this one as a long-term hold. Does anyone see much chance that the price will drop back to my bid?

Hopeful but not optimistic,

Ghoti

[ghotib]

If anyone can pull their attention away from MUL and oil stocks, I'd be interested in comments about Virotec (VTI). From my point of view it's a spec stock and I shouldn't even think about it, but maybe it's time for a little frivolity.

I've been watching the technology for several years, the company for about 18 months. Don't have an opinion about current stock price; management seems realistic, technologies seem very good.

Anyone?

Ghoti

[ghotib]

Maybe this belongs on the "Outstanding Breakout Alert" thread.

I've been watching the company for some 18 months because I think it's products and its technology are very interesting and I like the general approach they've been taking to developing them - as far as I can tell anyway. Weekend before last Pierpont ran a big piece bagging it for grossly excessive payments to management. That didn't seem to affect the price at all, which surprised me a little - I thought there might be an any-publicity spike.

I very nearly posted a msg last night asking the techies to take a look at their charts and comment on my thinking. Which was that it's been trading sideways, maybe a very weak uptrend, for about 4 months, with solid support at 52cents. For about 2 months there's a pattern of rising lows on slowly rising volume, which suggests the beginnings of an uptrend. I saw it as a buy at up to 55cents, with stop-loss at 51.5cents.

Yesterday it opened at 57, peaked at 58, and closed at 56, ie with a one cent gap. I didn't see any particular significance in any of that.

Today it opened at 61. Its high so far (1.50pm) is 63. There are 3 enormous bids in at 60, 59, and 58. Now I'm really curious. From a technical perspective, does this look like a breakout or a hiccup, or is it too soon to tell?

For the record, I don't know of any impending announcements. OTOH there's no particular history of attempted price manipulation.

I'd appreciate comments on the t/a before today's excitements as well as on whatever develops between now and closing time.

Thanks,

Ghoti

[RichKid]

Hi Ghotib,

Looks to me like it's just gyrating in that channel that formed in November. A bit volatile, plenty of gaps both ways. Seems to be trending in small waves within the channel. Recent pick up in volume is notable. Should retreat towards trend support soon around low to mid 50's. Obviously no takers at higher prices once price pops out of top of channel as there are a few spikes. General yearly chart trend is up, currently following longterm trend support. This one might just fly up to another peak above 75c if you're lucky.

Someone else who can post charts with trend lines may be more helpful.

[ghotib]

Thanks Rich. I don't own this, and I should have said that I don't think of it as a trading stock because there's less than 1% of the shares in play.

My interest is as a potential long-term hold, and it doesn't meet my criteria yet. I'm just using it to practise t/a because it's on one of my watchlists and I know it quite well.

At the risk of sounding terminally luddite, I dump the chart images into a text document, print it off, and draw lines with pencils and coloured pens. Good thing I don't plan to day trade, but tricky for posting to a forum.

Ghoti

[RichKid]

Hi Ghotib,

The lack of liquidity may explain the jagged chart too. Not one I'd be going into from a TA perspective (if it falls through nearby support you're a goner), lots of better trenders.

Nice to see you're having fun drawing charts, a lot of Gann people actually enjoy drawing big charts on paper. I think it's good too do things manually at first, might see some things you'd otherwise miss (eg angles of trajectories).
Maybe you can start using crayons to make things more colourful? ha ha, just me being silly. Try bigcharts.com for free charts to post here but it is a bit annoying as their data is sometimes wrong and it's not really easy to draw trend lines (try the interactive charting button).

[gaga]

this is my first post
i own vti and have for yrs
bauxsol works and has from the start its never failed . i-99skytop pennndot /dep are using it as per asx . us$1 for starters . bauxsol is not under the microscope as such but seeing wether it can be delivered under pressure under ground insitu is .

chart wise the weekly is breaking out .

huge vollumes and trades on the lse:vti uk board
vti in aust lags usually

regards gaga

[TheAnalyst]

This stock has never performed and has never paid a dividend but the directors have done ok...there is even cardio technologies.

To be frank if the stock was really going to make something of itself it would have done so by now and it hasnt..it was once listed as Money Mining...i dont know if it still has its tin mine.

It has a really nice website as well which is quite attractive...at least chemeq cmq got to the stage of building a chemical production plant this one hasnt.

It is probally a suckers rally or even a bear trap.

Please correct me if I am wrong

[silent knight]

Very suspect background. Lot of ramping on other boards with lots of quasi-facts quoted. It's always "gunna" but never does. Worst rampers seem to be the ones who quote how well its going in Britain and quote obscure internet references to how wonderful it is without being able to really relate these to actual money flow to company. I find it interesting to watch the ramping but would never waste any money on the stock.

[ghotib]

..it was once listed as Money Mining...i dont know if it still has its tin mine.

Do you mean the company was once called Money Mining? I can't trace that: Money Mining is now Latrobe Magnesium (LMG), but I can't see a connection between them and Virotec.

And what tin mine? I didn't know VTI had ever been a miner of anything - money or tin.

Thanks,

Ghoti

[TheAnalyst]

I cant remember exactly but it all began in 2000

[ghotib]

I cant remember exactly but it all began in 2000
I still neither hold nor trade VTI, and I don't have an opinion about recent price movements (except that I wish I'd had it for last month's competition). But I think you're confusing its history with another company, which might mean you want to look again at both of them.

Cheers,

Ghoti

[TheAnalyst]

It was definitely a mining stock and it did go in to a trading halt in 2000 when it changed its name and it is in competition with Cardia Technologies which also did the same thing and rebirthed its self from mining to Cardia.

Just ask the ASX as i was there when it all was happenning and seen the hype that surrounded it it even ran up a price of over $1.10 as well and fizzled back to almost zero once the 2000 tech wreck worked its sentiment into the rest of the market.

[ghotib]

It was definitely a mining stock and it did go in to a trading halt in 2000 when it changed its name and it is in competition with Cardia Technologies which also did the same thing and rebirthed its self from mining to Cardia.

Just ask the ASX as i was there when it all was happenning and seen the hype that surrounded it it even ran up a price of over $1.10 as well and fizzled back to almost zero once the 2000 tech wreck worked its sentiment into the rest of the market.
Here's the story from Virotec's own website, which gives more details than I've identified from other sources. This is part of the press material when they were listing on the UK alternative investments board in 2003. I've stopped at Feb 2000:

HISTORY

Origins
The Company was incorporated on 4 December 1969 and traded as a gold mining company, operating the Mt Carrington mine at the Drake mineral fields in New South Wales, Australia. In 1990, the Mt Carrington mining operations ceased and the site was placed on a care and maintenance programme. In 1994, the Company acquired a number of tin tenements in North Queensland, Australia and began tin mining operations. In January 1997, trading of the Shares was suspended by ASX and a receiver and manager was appointed and in March 1997, an administrator was also appointed. In July 1997, the Company commenced trading under a deed of company arrangement, the current executive Directors joined the Company, and the receiver and manager was retired. In 1998, the Company came to an arrangement with its creditors under the deed of company arrangement and the administrator was retired. In 1999, the Company raised sufficient capital to allow its Shares to be re-quoted on ASX.

The Company Today
In late 1999, faced with decreased revenue projections as a result of a decline in the value of its resources and a potential increase in the cost of remediation bonds required by environmental regulatory bodies, the Board resolved to change the nature of the Company’s business to environmental management and remediation. At that stage the Company had written down its interests in mining tenements to $nil in its accounts. The interests were independently valued in June 2001 at $16.8 million. These valuations are based on the interests being brought to development and may not reflect the amount for which the interests may be realised. Further details of these valuations are set out in Part V of the Prospectus. Since these interests no longer fit with Virotec’s core business, the Directors intend to divest them in an orderly manner as soon as practicable.

In 1999 the Company was instructed to remedy the acidic and copper-zinc-cadmium contaminated mine water in its Tailings Dam, at the Mt Carrington mine site, as the dam was in danger of overflowing. The Directors were unable to find a remedy to the problem.

Later in 1999 the Directors entered into negotiations with Professor David McConchie of Southern Cross University, New South Wales who specialises in Geochemical Engineering and had been working on a bauxite residue concept for Acid Mine Drainage (AMD) for eight years. AMD is recognised as the number one environmental problem facing the mining industry worldwide.

The Company provided funding to continue research by Professor McConchie, resulting in Virotec commercialising the AMD Process and applying to patent ‘Bauxsol™ Technology’, to which Virotec holds all global rights to marketing and distribution. In the first months of the year 2000 the Company focused on trialing the Bauxsol™ Technology to treat water and soils contaminated with acid, Heavy Metals and some other inorganic species at the Mt Carrington mine site.

On 21 February 2000 the Company changed its name from Tin Australia NL to Virotec International Ltd.

In February 2000 the Company also completed a trial of its Bauxsol™ Technology on a small Tailings Dam at the Company’s non?operational Mt Carrington mine site. The dam contained approximately 1.6 million litres of heavily contaminated Acid Mine Drainage water, with a pH of 3.58, and very high concentrations of aluminium, cadmium, copper, iron and zinc. The Bauxsol™ Technology successfully cleaned the toxic water to the ANZECC requirements for the protection of aquatic ecosystems – environmental standards that are stringent and exceed the ANZECC requirements for drinking water.

http://www.virotec.com/newsdetails.cfm?id=%3D%3DgN0YzM.

So you're right about the events, even though you got the names confused.

Cheers,

Ghoti

[TheAnalyst]

Thx for the full refreshment mate

cheers

[gaga]

The ignorance on this board about VTI is outstanding.

VTI did a world first , , as for cardia you have to be joking , firstly name 1 tech that 6 yrs ago could clean 1mill ltre polluted water in 24 yrs let alone 1.5 billion ltre in under 6 weeks and that was with delays , cardia still cant ,
vti since those days has beaten all commers in the us gilt edge superfund trials and is now doing a u.s $1mill trial at i-99 skytop total job is worth in excess of $20mill

Whats being trialed isnt bauxsol as such but wether they can drill into waste and fracture and treat underground , without moving the waste ,
world wide there is still nothing that can compare to bauxsol.

results for i-99 should be in this or next month wether fracturing ( insitu ) works is to be seen , penndot i-99 know bauxsol works,
now you gents may realise why vti chart looks so good.

I forgot to add sewage results from an independant trial being done in the uk are also expected this yr

Oooops also forgot that they are doing trials with bauxsol as a concrete additive to stop concrete cancer , and also for uses in grouting highways/ mine walls.

bugga forgot about the recent asx re arab connection . now thats a big family co what they aint into aint about , and seeing how bauxsol can do anything from water to sewage to farming to building . im sure something will be coming from that geographic arena soon .

im getting old i forgot about vti 38% shareholding in uk:hyr
vti sold of a small tech last yr , got there initial outlay back plus 60mill shares in hyr or 38%

60 mil x 25.75 pence = 15.450 million pounds worth of shares / .4341 = $35.590 mil aussie.

not a bad little asset to have lieing around imo .
now hyr are atm building abigger plant to up there throughoput of oils etc

[Joe Blow]

bugga forgot about the recent asx re arab connection . now thats a big family co what they aint into aint about , and seeing how bauxsol can do anything from water to sewage to farming to building . im sure something will be coming from that geographic arena soon .

Gaga... please do not take six posts to say what could be said in one. It makes threads unnecessarily longer.

Be sure that you have said everything you want to say before you hit 'Submit Reply' .

Thanks.

[gaga]

joe blow i get y0ur point sorry for that shame you seem to have delleted them though as it was all pertinent to the equation atm .

i will add that ubs recently bought 5%+
and that vti is predominently traded in the uk with only 70mill shares roughly stil in aust .
now why rbc royal bank of canada are playing games has me beat . they dont care if they get hit but niether do they hit the sells MMMM

heaps happening though
also thetop 40 as of last month owned 55% of total shareson offer

[Joe Blow]

joe blow i get y0ur point sorry for that shame you seem to have delleted them though as it was all pertinent to the equation atm.

Gaga, I didn't delete them. I have added them all to your first post.

[gaga]

1 more comment if i may the all time high was $1.68 .nto $1.10
it is on break out in the uk atm as there all time high has been passed it is consolidating there at a new level . from the uk chart i would expect further rises are not far off .
84c is minor resistance on the aust chart with MY next target being over $1

[canny]

Since winning the tipping comp with VTI in June, it has continued to grow in strength.
The directors do pay themselves nice big bonuses - but they are on the verge of a company making project in USA using the bauxsol technology.
Todays announcement of a new substantial shareholder with UK, USA and Bermuda addresses cements the fact that the Aussie shares ARE being bought by overseas interests.
If we don't buy them here, they will keep walking out of the country for overseas interests to see the profits.
Skytop testing should be seeing results in the next month - and I expect to see a massive price hike in the SP before Christmas.
The price rise back in 2000 (when I also held) was due to the innovative technology of cleaning up dirty mine water - but it slipped back with everything else after the dot com boom/bust.
IMO VTI is a strong buy at the moment.