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CUL - Cullen Resources

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Market sensitive announcement out this morning.

Cullen have secured exploration rights........ in Finland of all places!!!

Looking at this from a layman's perspective - I would say that this doesn't bode well for the Australian projects if this is going to be one of their priorities.

Or maybe I'm completely wrong and this is a fantastic additional opportunity for the company.

I give up - bad announcements send SP up and good anouncements send them down!!

Duckman
 
lol Duckman,

I thought the exact same thing but then I realised that CUL aren't managing the Pilbara exploration program, AQA are, and so CUL has alot of spare time on their hands,

So I think its actually a good thing, but FINLAND hmmm from the pic it looks like there are a few Magnetite operations in the area
 
YOUNG_TRADER said:
So I think its actually a good thing, but FINLAND hmmm from the pic it looks like there are a few Magnetite operations in the area
Click to expand...
Isn't that area under ice for most of the year?

At least they'll have a good supply of Absolute to get them through the winter.
 
There are other Australian companies operating in Finland. One that comes to mind is Vulcan Resources, who have an operation there (magnetitie/vanadium). They are setting up a processing plant. I dont know if there is any relationship between Vulcan and Cullen. I would not say "Finland of all places!!!" Why, even Monty Python loves them - song Finland, Finland. It is a very stable advanced county with significant mineral resources. I see this as potentially a good thing for Cullen, if they manage it properly.
 
well i work for a certain top horse trainer and anything with the name Finland in it (Miss Finland) is great news!
So bring on Finland for Cullen!
 
Another jump today, or could it be another false start? Let's hope not.

Finally broke that massive 12c barrier.
 
It was a great day for resource companies, most things in the green.

CUL had some decent volume as well today... compared to previous days
 
Does anyone have any idea of why someone would just buy over 3million(.5%)
at 14.5c when the going rate has been 11.5-13c for the last few weeks.

Is there possibly some news coming out soon
 
possibly drilling results for the jv with Minotaur are due end of this month...

lots of big buys today
 
My first thoughts are the Tempest work by THX which was meant to be reported last September and has dragged on forever with no news - maybe that's the reason....
 
X888 said:
possibly drilling results for the jv with Minotaur are due end of this month...

lots of big buys today
Click to expand...

Looks like AMCI have been buying aggressively on mkt,

They bought another 6M CUl and now hold 55m = 9.92% plenty of room to buy more, ie another 55m more should they wish before they hit the 19.9% barrier

Maybe they read my valuation? :
 
Another sub holding from AMCI... they now hold 11%..


They have been buying all the 14c sellers today.
 
Up 20% today, possibly cause of AQA's Pilbara project?

Buy vs Sell depth is nearly double 13m v 7m....
 
Glad I topped up at 10.5c on the silly dip after the JORC upgrade

I am very impressed with AQA's projected Op Ex of less than $20/t, if they sell into the spot mkt their margins will be $180/t

No doubt though given the scale of the project they will have to arange contracts, still rumours are that Aussies should get $150US/t or $160 AUD/t given the rumoured 85% rise secured by RIO and BHP

trading at an EV of about $6/t JORC resources not expensive, but then not cheap either
 
Cullen is slowly and surely moving up the charts.

Hit 17c during this mornings trade. The pleasing thing being the shares haven't immediately dipped back to 12/13c as per last couple of months.

Maybe another announcement is to follow shortly. Hope the guys are working up in Finland and not slacking off drinking and skiing with nordic beauties.

Duckman
 
I predicted that cul wouldnt see out 08 & i think its about right,gonna get swallowed up by the big shark...tb
 


are you saying that AQA is trading at an EV of $6/t of JORC?

you must be forgetting their numerous coal mines with JORC reserves in excess of a billion tonnes!
 
tigerboi said:
I predicted that cul wouldnt see out 08 & i think its about right,gonna get swallowed up by the big shark...tb
Click to expand...

AQA are no dills...soon as it gets to around 17c they put their cue in the rack for awhile.very smart operators as they have bought all their cul without sending it over its 19c high of last year on the bhp jv anns,dont forget cul's jv with fmg at mt stuart...conservative total of cul's IO 400mt...

AQA looking further on with the CUL buying...tb
 
imajica said:
are you saying that AQA is trading at an EV of $6/t of JORC?

you must be forgetting their numerous coal mines with JORC reserves in excess of a billion tonnes!
Click to expand...

Was talking about CUL mate

CUL is trading at an EV of $6/t Fe JORC, well it was when the SP was 15c/16c might be a bit more now
 

Hi tb

So what is your prediction of SP for Cullen in 2008. How will this all play out?

Thanks
Duckman

PS Thanks for your footy tips. I won the office tipping comp a fortnight ago based on your picks. Your "man" is still playing very well for the Swannies.
 
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