GXY - Galaxy Resources
- Thread starter Ko Ko
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Yeah I got in on the IPO. But unfortunately I find it very hard to weigh up grades and economic worth of spodumene and tantalite etc. I guess the best way to research is to compare the ex-Sons of Gwalia's Greenbushes mine, and the old Haddington project down Ravensthorpe way.
Been solid price movement for the last couple of weeks.
Been solid price movement for the last couple of weeks.
Are you referring to previous stocks near the area occupied by Galaxy? What are your plans Brujo?
Without digging through old announcements, I just recall Haddington had a tantalite prospect near Caitlin Creek. Just a means of working out how good or otherwise Galaxy's results are, with these minerals not being so widely produced.
I actually sold some in the low 50s today, so I can free-ride the rest. I'm in for the longer ride, I think. Can always relax a bit knowing you've recouped the initian investment!
Ahhh ok cool thanks mate... yeh I've got some too on the IPO... was looking to hold this as a long term investment but when your looking at tripling in 2 months, cashing in looks too good! Will most likely stick to my guns though and keep it.
http://www.mdsnews.com/australia/financetv/default.aspx
David just reported on GXY... under $20mill cap but likely to go north of $1... I want to see this happen in the next few months
David just reported on GXY... under $20mill cap but likely to go north of $1... I want to see this happen in the next few months
Hi something is happening with GXY.. a huge upsurge in buyers, with hardly any sellers, and no ann? Managed to buy in at 76c when I noticed all the sellers were backing out... volume has quadrupled in the past 2 hours definitely was not expecting this.
Managed to buy in at 76c when I noticed all the sellers were backing out... volume has quadrupled in the past 2 hours definitely was not expecting this.
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http://www.haddington.com.au/projects.html
Haddington have still got it on their website
DYOR with this one
Haddington have still got it on their website
DYOR with this one
Yeah, it was months ago that I read the prospectus and I've read so many since and looked at so many companies, I was having trouble remembering the details of this company!!!
A source tells me the ore-body is looking very good. Definitely the $1 mark is easily gettable.
I read the prospectus (although admit I scan through the detailed Ind. Geology Report) and overall liked the spread of projects and metals the company had exposure to, particularly in the Ravensthorpe region. I remember back in December when I looked at the prospectus I made the sub-conscious link with Haddington at Caittlen Creek, but never followed up, since it was all academic anyway, with Sons of Gwalia being the last owners. It was probably 7-8 years ago that I was following Haddington down in that part of the world, so just wasn't sure if it was the same project. Never thought of Haddington again until they were in the spotlight a couple of weeks ago.
And I was partially reciprocating a favour for a friend by offering support for the float.
I always felt comfortable with the quality of the assets, but just didn't expect what is now close to a 5-fold increase in value in the space of five months.
To be totally blunt about it, in the current environment, if the opportunity is there to get an allocation in any IPO with decent assets, it has to be seized with both hands, as the majority of them are showing good returns!!
Very difficult for the un-connected punter on the street to get an allocation in any worthwhile IPO at the moment.
I hear that GXY are also seriously thinking of producing a Tantalum Powder that they can get $200 USD a pound for. Early quotes given indicate the powder plant itself would cost just $20m US. Not bad considering it increases the value of the product by 2.5 times or almost $2b.
If a Ta powder plant is sought, the potential increases beyond Cattlin Creek. Sons of Gwalia have huge stockpiles of Ta that are not able to be exported due to restrictions on radioactivity. A powder plant would enable them to treat all those huge stockpiles as well. Govt is v-keen to see this happen.
and let's not forget all the other projects. Cattlin Creek will allow GXY to undertake exploration on some high risk high reward targets including the Ponton carbonatite and Shoemaker and Connolly impact craters.
Ponton is very exciting - huge carbonatite target. Very confident that it is a carbonatite as well. The high grade rare earths resource on the surface (12% REO) only increases the prospectivity.
In summary, and in my opinion which is consistent with recent Stockbroker Reports, my GXY long term SP target is $4.30.
If a Ta powder plant is sought, the potential increases beyond Cattlin Creek. Sons of Gwalia have huge stockpiles of Ta that are not able to be exported due to restrictions on radioactivity. A powder plant would enable them to treat all those huge stockpiles as well. Govt is v-keen to see this happen.
and let's not forget all the other projects. Cattlin Creek will allow GXY to undertake exploration on some high risk high reward targets including the Ponton carbonatite and Shoemaker and Connolly impact craters.
Ponton is very exciting - huge carbonatite target. Very confident that it is a carbonatite as well. The high grade rare earths resource on the surface (12% REO) only increases the prospectivity.
In summary, and in my opinion which is consistent with recent Stockbroker Reports, my GXY long term SP target is $4.30.
Dropped 7c today to close at 63c. The drop from $1 to this is just beyond ridiculous. I believe it is cheap at the current price (taking into consideration all the factors that have been mentioned above) but the panickers/profit-takers may still weigh it down for a few more sessions. However, there were a few good signs today. It was oscillating between 62 and 70, and a few large sell orders were eaten up relatively quickly. Seems there are investors with heavy pockets waiting on the sidelines to take advantage of nervous sellers. All the best to holders. I don't hold but I'm looking at a re-entry point
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