If your backing it so strongly
could just take out a loan and put your money where you mouth is ~Can show him who the wombat is! Take him down redback :eek3:
GLX - Gulf X
- Thread starter yogi-in-oz
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If your backing it so strongly
could just take out a loan and put your money where you mouth is ~Can show him who the wombat is! Take him down redback :eek3:
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Redback...FYI...price fell today on falling volume and that's a positive sign....Volume is down around 70% on yesterday. Shows that people aren't abadoning ship in droves.....Tuesday could be a good buying opportunity....
Would it make you feel better if ten people placed sell orders for 1000000 each? That would bother me more.
Perhaps the same person who placed the sell order for 1mil is planning on buying some more before they get too expensive and wants those holding to panic and sell when they see the big sell order on...just like you are doing...After all the sell order is a fair way off the trading price.....It can easily be removed...
think beyond the square
Good to see GLX obtain another Petroleum Exploration License (PEL) this morning. In addition to them already having the mineral license for the area. This is over their Moorlands deposit, just south-east of Adelaide.
Everything is falling into place. These guys know how to move, everything is being fast-tracked as much as possible. Past drilling has already been done in the area demonstrating large coal/lignite deposits. JORC will soon demonstrate the large deposits which the board already know they have.
Everything is falling into place. These guys know how to move, everything is being fast-tracked as much as possible. Past drilling has already been done in the area demonstrating large coal/lignite deposits. JORC will soon demonstrate the large deposits which the board already know they have.
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Interesting point about current drilling at Clifton, Beaufort, Whitwata is that non jorc resource is 1.4 billion tonnes of lignite (based on prior drilling and SA Government data). Update to JORC will take 37 holes to 100 meters plus several months of testing lignite samples. Linc claims appox 1.5 barrels of hydrocarbons per tonne of lignite. Assuming these numbers and a recovery of 50% then GLX may be looking at appox 1 billion barrels of recoverable hydrocarbons that convert to diesel fuel. This mornings report talks about Moorlands which i assume is a smaller lignite deposit. In any event these are huge numbers for a market cap of around $25,000,000 for GLX or 2.5 cents per barrel!!!!
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lignite is a low value/low calorific (solid) brown coal and would be measured by the tonne. The liquid hydrocarbons that are extracted are measured in barrels. LNC says that similar types of coal found in Queensland contain 1.5 barrels of liquids per tonne of lignite. Typically by weight there are about 6-8 barrels of hydrocarbons in a tonne depending on the type of oil, light sweet Arabian crudes are light and Fort McMurray tars are very heavy. The type of fuel that GLX plan to produce is a sulfur free diesel fuel which is in very heavy demand and probably worth more than a barrel of arabian sweet crude which is the current world benchmark valued at around US$135 barrel.
LNC is currently in merger talks and i suspect that the whole sector is under close examination. At current GLX shareprice each barrel of "estimated recoverable" hydrocarbons (see prior post) is worth around 2.5 cents so there is considerable upside subject to drilling proving up JORC and tests establishing nature of lignite (which i am sure they already have a decent idea of what is available, but cannot be stated until due diligence is completed).
Thanks for that information. So does one barrel of liquid hydrocarbons translate to roughly one barrel of sulfur free diesel fuel? And is there a substantial cost in converting from one to the other? Is your assumption of recovering 50% of the estimated available lignite just an arbitrary figure to be safe? I bought in a couple of weeks ago at around 15 cents amidst all the UCG hype, so I'd like to be as informed as possible about this company.
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Yes, one barrel of liquid hydrocarbon equals roughly one barrel of diesel fuel. I assume 50% recovery IMHO. The actual recovery level will be determinted by the company on completion of all tests. Might pay to visit LNC and read up on their work to establish "ballpark" calculations.
I observed todays trading which clearly saw a large buyer in the market, offset by a seller of the same magnitude, the market then noticed this 100k drip feeding and he didn't know when to stop, he reloaded once too often which brought proceedings to an abrupt halt causing the take out of the 16.5's, either this is a standing exit order(the size we don't know) which was taken then paused because of this persistant seller, I note he is still there with another 100k sell but now stranded, this wombat was too eager reloading his 100k sells all day for his own good, absolute dipstick.
any comments here folks? Despite what some may think - I do think GLX has good prospects...and considered buying some a while back (when I first posted in this thread). but I'm concerned about funding. The last presentation (march) said nothing about this. The previous one mentioned a budget of just $2M to do a whole lot of confirmation drilling, JORCing, planning, feasibility studies.... all in a very short time frame.... is it possible??
(- not holding GLX)
-dukey
Would day trader's choose such a low volume stock??
Maybe its just me, but wouldnt there be better sheep in the flock ?
Noticed a couple of heavy buyers today
One should have about 300,000 other should have about 150,0000?
50,000 bucks is huge for small fry like me
-but maybe I'm over thinking..... and in reality its nothing but sofa change. At least someone believes in this stock - Joined
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Drilling to get to JORC will be very cheap. On the order of 11 holes x 100 meters on the Clinton deposit. 26 additional holes to 100 meters to be drilled at Beaufort and Whitwarta. This is very shallow drilling. There already is a karge amount of data available plus the data and samples from current trial targetting a potential 1.4 billion tonnes of lignite. Technical studies IMHO are reasonably straightforward. Could be completed over the next 4-6 months??. Results of drilling and assays will confirm viability of the business plan.
OK - thanks for your answer - I guess there's plenty of time to find additional funding - beyond planning - to build the plant and mine the coal.
-regards Dukey
I watched Fridays trading with dismay as this repeat 100k 17c Wombat selling was joined by the Numbats, this clown set the tone for the day, even the large 16.5c buys got wiped out, and that was it--pure panic set in, and what did this dipstick achieve? --SFA, and there they sit all bunched up as the panic merchants offloaded, this guy is a Retard.
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Redback.....buying and selling shares is not a team effort....Surely you don't believe that traders concern themselves with the notion that others may loose money because they are closing out a position...That's just ridiculous..It would seem that, in your opinion, all holders of GLX should trade them in such a way that suits all concerned....He/she may have many reasons for selling, profit taking for one or did it occur to you that perhaps he/she was covering a margin call due to the BNB meltdown?
I watched the trading on Friday and the whole day was overshadowed with BNB generating a very negative tone...The volume for GLX was pretty low and that's good..shows everyone wasn't jumping to get off....
Friday could have been viwed as a good buying day for some..
If you can't handle a down day maybe you should think about doing something else that makes you less angry
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on another note......I had a look at the options....Plenty of buyers there......With the share price low so is the price of the options...
ht sixty minutes is running a story on the energy crisis and alternative sources....could be interesting
ht sixty minutes is running a story on the energy crisis and alternative sources....could be interesting
Well, with all the sellers continually lining up/re loading again today, I was absolutely appalled by today's after market 5.95 million disgraceful false bid, ASIC should have been on his case, the last thing this stock needs is an idiotic bid like this appearing and disappearing, I'm sick to death of this nearly uncontrollable market manipulation every day and how easy it is to con people, the regulators must be asleep, and are these people who instantly reload the sell side involved?, might put in a complaint form to ASIC, at least the surveillence people might record who's responsible (on both sides) for this nonsense
prawn_86
Mod: Call me Dendrobranchiata
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Very hard to prove any form of manipulation Redback. I agree that ASIC is useless though.
But there is no law about putting up an offer to sell however many shares you want...
But there is no law about putting up an offer to sell however many shares you want...
How true that is, everybody went--wtf?, and as was expected the bid disappeared again as soon as another bid over that failed to appear, that was obviously a sell side bit of trickery, I will definately put a complaint in tomorrow, in fact I will do it now.
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