LTX - Lithex Resources

[Chickentrader]

Are there any thoughts out there about the Lithex IPO? There is a prospectus in the file attachment.

Kindest regards,
Lars.

[burlay]

Are there any thoughts out there about the Lithex IPO? There is a prospectus in the file attachment.

Kindest regards,
Lars.

Just received a very short letter from MZM inviting us to participate in the IPO - no special benefits other than priority. No further commentary in the letter - bit bizarre.

Rare metals is getting more attention these days. Interesting prospect but really don't know much about the company or management

[Francisknight]

Does anyone have any current thoughts on LTX? I've watched it drop from 20c to 7 with no real announcements.

[albaby]

Last 10 Trades
Time Price Quantity
02:37:47 PM 0.070 20,000
11:03:00 AM 0.070 7,150
11:03:00 AM 0.070 17,4
Been watching this one too Francis,put a bid at .04 when the only offer was1m.at.02,obviously the vacuum did'nt last long ,what is your interest?

[Francisknight]

I was the victim of a "sure thing" from my broker, who up until this one had a pretty impressive strike rate of short term low cost stocks that shoot up quickly.

Not that I have much money to in it by most standards it was a hard earnt $5000 that was money put aside for other important things.

He insisted they had done in depth research on the company, the plan and even their sites and told me if there was only one trade I could afford to do this was it.

He is still telling me big things are coming and not to worry they are just a year or so behind where they should be. I sure hope so but I'm hoping someone here might have something good to say about the stock too.

[springhill]

I was the victim of a "sure thing" from my broker, who up until this one had a pretty impressive strike rate of short term low cost stocks that shoot up quickly.

Not that I have much money to in it by most standards it was a hard earnt $5000 that was money put aside for other important things.

He insisted they had done in depth research on the company, the plan and even their sites and told me if there was only one trade I could afford to do this was it.

He is still telling me big things are coming and not to worry they are just a year or so behind where they should be. I sure hope so but I'm hoping someone here might have something good to say about the stock too.

Can't say i know too much about Lithex, nor the lithium market for that matter.

Director Carson seems to agree with your broker.
http://www.asx.com.au/asxpdf/2012060...9nmznjxkps.pdf
http://www.asx.com.au/asxpdf/2012060...j2d46z186z.pdf

Whacking them in the super fund may indicate LTX a longer term prospect. Just theorising.

Last few announcements.

MOOLYELLA RC DRILL PROGRAM
ASSAY RESULTS FROM ELUVIAL GULLY PROSEPCT
http://www.asx.com.au/asxpdf/2012062...95c6f5m801.pdf

 17 hole program completed Eluvial Gully Prospect
 Significant assay results returned for molybdenum, tantalum, tungsten, cobalt & copper
Results from 18 holes drilled at Eluvial Gully, returned significant results up to 9,100 ppm molybdenum, 128ppm tantalum, 1,510ppm tungsten, 1,040ppm cobalt and over 2,000ppm copper.

Pilgangoora Project
http://www.asx.com.au/asxpdf/2012050...8v4cmqnb8b.pdf

 Lithium bearing pegmatites identified in first pass rock chip program at the Pilgangoora Project, assaying up to 5.08% Li2O.
 Follow up sampling planned, to confirm potential drill sites to test depth and extent of lithium bearing pegmatites

Lithex intends to conduct further geological mapping and sampling at the Project in preparation for an initial reverse circulation (RC) drill program to test the depth and extent of the lithium bearing pegamatites.







SHAW RIVER PROJECT
http://www.asx.com.au/asxpdf/2012040...5qzt2dbzgd.pdf

 HyVista Corporation has commenced Airborne Hyperspectral Survey
 Potential for pegmatite hosted heavy rare earth (HREE) tin, tantalum and lithium mineralisation
 Historical tin & tantalum producing region & Australia’s first rare earth mine

[Francisknight]

Lets hope that something might happen, even if it's long term. I've seen no bad news come out but the price just keeps dropping!

I'm going through the same thing with universal coal. Jumped in at 20c and watched them dropped. Again I haven't heard anything overly bad come out.

Perhaps the two of them have something ready to happen so we can see them race back up.

[Francisknight]

Both LTX and Universal Coal hit / made 52 week lows today.

Is there anyone that believes a positive future for either of these two conpanies stock price?

[burglar]

I was the victim of a "sure thing" from my broker, ...

The broker is not your friend!

[Francisknight]

Funny thing is if I employ a plumber to do a job I expect he has my best interest in mind even if he ops to use a product he can make slightly more margin on. Why do we accept this to be any different with a broker or anyone that we offer money to in exchange of a service.

In any case lesson learnt.

[burglar]

Funny thing is if I employ a plumber to do a job I expect he has my best interest in mind even if he ops to use a product he can make slightly more margin on. Why do we accept this to be any different with a broker or anyone that we offer money to in exchange of a service.

In any case lesson learnt.

The broker is on both sides of a deal.
How can you expect him to have your best interests in mind
when he is buying for you whilst selling for another.

(Get an online broker ... make your own mistakes!)

[springhill]

Both LTX and Universal Coal hit / made 52 week lows today.

Is there anyone that believes a positive future for either of these two conpanies stock price?

I am not sure which area of LTX interests you the most, but I have just posted some information on the GSZ thread which you may be able to use in future comparisons for LTX's Pilgangoora Project.
http://www.aussiestockforums.com/for...ad.php?t=24907

[springhill]

MC - $2.2m
SP - 5c
Shares - 44m
Options - 15m
Cash - $1.6m

Hi Francisknight, what is your current status regarding LTX? May I ask the price at which you purchased?

I have just looked through their June quarterly, and IMO, I can't see a reason for much SP appreciation in this quater. Any upcoming events seem to revolve around mapping and sampling.
Unless some speculative interest comes in, or a project acquisition occurs, you may have to be prepared to wait longer for something to happen here.

I hope to be proven wrong, for your sake.

[Francisknight]

MC - $2.2m
SP - 5c
Shares - 44m
Options - 15m
Cash - $1.6m

Hi Francisknight, what is your current status regarding LTX? May I ask the price at which you purchased?

I have just looked through their June quarterly, and IMO, I can't see a reason for much SP appreciation in this quater. Any upcoming events seem to revolve around mapping and sampling.
Unless some speculative interest comes in, or a project acquisition occurs, you may have to be prepared to wait longer for something to happen here.

I hope to be proven wrong, for your sake.

Hi mate, sorry for the late reply I didn’t get the email notifications.

I bought in $5000 at the IPO 20c.

I wouldn’t mind so much but my other $5000 is tied up in UNV (in at 22c) that’s also doing much of nothing but heading south.

I’m happy to wait both of these out of there is some glimmer of hope. Looking back foolishly I don’t really know too much about mining and they were both bought on a brokers recommendation that had had a good run unit these. I can’t seem to find much about either that shows a reason for them to go back up to their previous highs either.

[springhill]

Hi mate, sorry for the late reply I didn’t get the email notifications.

I bought in $5000 at the IPO 20c.

I wouldn’t mind so much but my other $5000 is tied up in UNV (in at 22c) that’s also doing much of nothing but heading south.

I’m happy to wait both of these out of there is some glimmer of hope. Looking back foolishly I don’t really know too much about mining and they were both bought on a brokers recommendation that had had a good run unit these. I can’t seem to find much about either that shows a reason for them to go back up to their previous highs either.

If I was looking at LTX now, I would be hoping the current SP stays the same and waiting for the next cap raise before considering buying (hypothetically), cap raising are usually at a lower price than the SP. So the current SP might be dragged back a little further before a rebound may occur. This may be an option you are forced to endure. In that scenario, I would have a cashed up small cap, with a rock bottom SP (not saying it wouldnt go even lower, but that is the risk, is it worth taking?). Not a bad picture for someone who takes the strategy I do.

Don't beat yourself up too much, you are not the first and you won't be the last.
There is nothing you can do to turn back the clock, the important thing is that something was learned from it.

It is important to take in the prevailing market conditions when selecting stocks. If the water looks murky sometimes it is best not to swim. Even a stock that has everything going for it can drift ever lower in the wrong type of market, where normally it would explode in a bullish trend.

Even if they are a successful broker, one persons opinion is only one persons opinion, afterall. That goes for my opinion too!

IPO's can also be iffy, they really need to pump out great news immediately, or the SP can suffer while they take time to find their feet.
Hence my purchse of CQC, I wouldn't have bought it as an IPO. Now it is an IPO that has drifted to cash value with plenty of news coming up, it was a good time to jump in IMO.
I will be doing the same with ATU, a new float that could drift to 10c or below, close to cash value.

Anyways don't mean to lecture, just trying to help. If I have time I will try to look at UNV tonight.

[Francisknight]

Thanks Springhill. Your thoughts and information are appreciated.

I’m happy to wait it out for now so let’s just see if something happens I guess.

[Francisknight]

This released today.


http://www.proactiveinvestors.com.au...sts-32018.html

[springhill]

Hi Francisknight,

Are you still holding this mate?

I have had zero time to focus on stocks lately but the situation our industry was in has eased somewhat, so have a bit more time to spend researching.

As you would know the share placement has been completed. I am impressed LTX raised at a premium to the current SP and the oppie is a nice little bonus along the way.
http://www.asx.com.au/asxpdf/2012101...1mrhkrfcbc.pdf

I am not fully across LTX but a substantial holder has finished pulling out, and selling pressure has eased. Current buy v sell is 1.3m v 200k. I would be taking that as a promising sign.

As for the announcement re: graphite, I think they have missed the boat on this one. The announcement failed to spark any sort of interest in LTX.
http://www.asx.com.au/asxpdf/2012100...4tgmzqg8w9.pdf

My opinion is the future looks steady, I don't see further large SP weakness in the near term, but I don't see large scale growth in the very near term either unless they pull a rabbit out of the hat.
Steady with potential for small short term increase is my vision for LTX at this point.
6 cents in the next couple of months would be a great result.

[springhill]

As thought the move to graphite has failed to fire LTX.

Share price has been steady to marginally weak, but that buy/sell has reversed to be 132k/2.1m

The board of directors deserve a good horse whipping for their actions with LTX. The move to graphite was far to late to be of any sort of boon to the share price.
Many other companies are miles ahead of them.

It could be quite possible to see yet another change of direction in 12-18 months if the market continues to ignore them.