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Positions Update 14 June

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Last week sold half IRC for 50% profit on those shares. Holding the rest until there's some more direction in the sp, or news. Breaking 40 and I'll consider adding some more again.

Sold all the RER after I got the entitlement. Sold the 3c shares for 4.5, but overall made just a 1% gain.

Tried to buy some more AZM but the stock ran away from me and I didn't want to chase it. If 13 c resistance is now confirmed as support, I will add some more this week.

KMN surprised and bounced off 17 c really well. Maybe the move is due to resource apgrade at San Anton, or Kalman, which are due, or just because it was oversold.

Seriously thinking of dumping NCM and LGL. NCM has been smashed because of the WA gas fire, and LGL still feeling it from the EQI merger which is a question to many I think. Both effected by POG major correction too of course. Maybe I don't need them as a hedge anymore?

STB correcting but I think it will bounce off here. Wouldn't be surprised to see this with a $100m mc by the end of the year.

MAKO is now converted into MAK. Good recovery on news on Friday but still trending down hill. My overall % gain on it has been reduced due to paying 30c an option to convert them. Is being oversold I think, on long term potential.

Waiting to see how MLM goes.Down a couple of % on them after their pullback from 60 where there's a capper lurking. Fundamentally undervalued on their assets, and the potential value created from the 2 IPOs they're planning this and next year. The CSG tenaments in QLD could be a massive boost.

BMN consolidating really well above $2.00 and I expect some really good gains on this when they confirm the 100m lbs at Goan in the next upgrade due next month. Recent massive upgrade from Haywoods should provide plenty of interest. If POU recovers back towards $100, then this will be really well supported. Wouldn't be surprised on a T/O offer or approach, but not sure if management will play. Of course everyone has a price.

DMM correcting because of lack of news on the FS, and natural consolidation after a massive rise. I have a nasty feeling that the amount of silicon in the iron could make it tricky to beneficiate increasing costs and reducing value, but by how much, who knows. Fundamentally still undervalued on asset. All things being equal should get to $1.50 ish.
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  1. kennas's Avatar
    This week:

    Doubled holding in KMN at 20c. Currently valued at $7.27 oz au equiv, which is crazily cheap. All things being equal it will be rerated eventually. Or, go into administration...eeeek

    Picked up 50% more AZM around 14.5c. In trading halt for release of drilling results on Monday which I expect to be good. May take some profits on any significant move up and hope to get close to almost free carried.

    Bought a few more MLM at 51c. Getting cheaper and cheaper. Will hold these now until IPOs of Bauxite and Coal assets I think to ensure entitlement for shares.

    Held off selling any LGL or NCM due to POG rebound, and NCM looks oversold. Both seem to have been effected by shortselling.

    Bought BFE. Is a recap and has bought into an fe project in Nigeria with a target of 400-600Mt Mag, and needs at least 200Mt for the project to keep going. Looks very prospective from the information available, and with an MC of under $10m should be rerated once the market knows about it. Very spec.

    DMM in trading halt to Wed for release of SS. Hopefully the silicon is not a major issue. I expect a minor problem but overall a positive study and it will spike up. I do expect a buy the rumour sell the fact however as it's been ramped so heavily on HC. Idiots. So, I may sell half on a spike and will be well over free carried.


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