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GRR - Grange Resources

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Speculator said:
Ahh makes good sense thank you Ozy.

Is there anyway we can get a confirmation on the dates for the pellet contract renewell?

Cheers
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Hi Speculator,

Congratulations on finding a true gem in the market! I am lucky enough to live very close to the savage river mine and just around the corner from the Grange admin office in Burnie Tasmania.

Iron ore contract prices are set to be re-negotiated in March of this year, I believe this is also when a lot of world players are talking Iron ore prices so it is set to be an interesting month.

You can find this in the summary of page 39 of the annual report..... .

Good be seeing an upward trend already.....

Good volume today, jumped from 1.8million to well over 4 million in a very short spurt in the afternoons trades. Finished up at 188 trades.... very promising.... Also buyers seem to be outweighing the sellers.....

I am currently sitting at 11.63% increase on my GRR holdings.
 

Hey Miffy

I figured it would go hard in anticpation of those new contract prices.. just not this early. Sold out on Tuesday to put my money else where

At least my money is working for me in its new home PRU. I'll probably buy in today some time... Don't want to miss the run and if i have to suffer a small contraction before it goes I'll just stick to my guns and ride it out.

GL
 

You picked that one well! Are you using a stock filter in a program like incredible charts to find stocks that are about to break out? If so what filter did you use. I just noticed this stock tonight using a filter looking for new highs (my L plater experience suggesting it might have further to go if the reason its jumped up in the first place still holds true).

Is my reasoning ok on this stock or will this method of looking for new highs or even filtering stocks that have gapped up just cause me to jump onto stocks once the horse has bolted?

Disclosure I have just placed an order for a parcel of shares in GRR.
 

Hey Voigtstr

In regards to your first question I hold a St George Freedom Saver which is directly linked to my trading account, directshares.com (amoungst other reasons the ability to use directshares is the reason I recently moved from Nab to St.George).

Direct Shares have a pre-programmed market filter tool. I choose the sector the market cap and a few other basic filters (including their fundamental valuation of companies based on their criteria and then it spits out a list of companies. GRR was one of em and after checking it out my self I couldn't resist getting involved.

It's a good tool but is is very limited, as a novice trader it suits my needs at the moment but I will definitely be looking at software that has a much broader range of capabilities.

In regards to your second question I can only speak from my personal experience and opinion (which is in my opinion very limited) that being said I to am interested in developing a system which alerts me to large volume and sp breakouts. I think the important thing will be to carefully analyse the reason for the breakout and then decide whether or not the SP still has more room to move (possibly by using other indicators, assessing company news, looking at the sector its in and checking out the company fundamentals.)

Maybe someone else could give us their experience with filtering stocks for large SP/Volume breaks and how successful/ unsuccessful it has been for them.

Happy Trading
 

Hi MiFFy, I`m with you on GRR and hearing of the environmental studies being fundamentally passed for port Albany to me thats huge +++ for the Southdown project. I remember they had a sp of $2.40 odd, back in July 07, just b4 the `s` hit the fan. WPG is another, and with a 17% gain today they are due for more upside once the Dept of Defence get off their defensive high horse. I look forward to them justifying the reason I liked them in the first place.
 
I have cut down GRR most recent ann to include highlights:

EPA RECOMMENDS APPROVAL OF ALBANY PORT EXPANSION PROJECT
Grange Resources Limited (ASX: GRR, Grange) is pleased to announce that the Western Australian Environmental Protection Authority (EPA) has today recommended that the Albany Port Expansion Project receive environmental approval.

This is another significant milestone for Grange and the Southdown project near Albany in Western Australia. The Albany Port Expansion Project will allow the port to cater for Cape Size vessels, supporting the proposed export of iron ore concentrate from Grange’s Southdown iron ore mine.

The use of the larger Cape Size vessels will contribute to shipping and operational efficiencies, as well as reducing by two thirds the shipping movements required in the Albany harbour compared to the current smaller vessels.

The Southdown project is predicted to employ over 600 people on a permanent basis in the local Albany region, with a potential mine life in excess of 30 years. A construction workforce of 1000 people is expected.
Figure 1 - Albany Port showing proposed location of new Berth in foreground.
Grange Managing Director Russell Clark said the release of the Bulletin was the culmination of extensive scientific studies, community consultation and submissions to the EPA.

The expansion will also provide benefits for other port users, with potential for reduced operating costs. “Albany Port has played a significant role in the development of the City of Albany, and the expansion will ensure that the Port continues to make an important contribution to the city and local region into the future,” said Mr Clark.

Grange is Australia’s leading magnetite producer, through its Savage River iron ore mine and Port Latta operations in Tasmania. Port Latta is currently Australia’s largest producer of iron ore pellets. Grange will use the expertise gleaned at Savage River as it develops the Southdown project.

Looking at GRR from a TA point of view combined with GRR's prospects for 2010 points, imo, to a significant re-rating in the comming weeks.

Do your own reaserch.

GL + HP
 

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Looks like weve dropped below the consolidation atempt from early Jan.

Could see the sp come back down to its previous lows if we keep getting strong negative leads from the US/global economy (but I think it's unlikely it will pullback that far).

Another good buy opportunity
 

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Good call on WPG mate, watched there run since you posted this and would have liked to have had some capital in them but hey.... there will be more....

And Speculator.... great TA posting your doing on GRR.... Cheers man.... i am slowly getting into TA as time allows!

As for GRR.... something is up today.... Broke through the .38 line to .39.... new territory this side of GFC....

Could possibly be related to the latest reports plus a combination of good market outcomes for the Australian commodities and still a lot of hype at the moment on Iron Ore.....

Going to be an interesting year i say.....
 
GRR has bounced off that nasty $0.40 resistance level again - albeit with a little blip to .42.

Looking forward to seeing $0.40 being broken again - and then, with fingers crossed, we'll be off and running
 
An enormous number of shares traded today in Grange, 54.8 million, advanced another 2 cents. all positive atm. anybody have any idea who,s buying such numbers?
 
snorer said:
An enormous number of shares traded today in Grange, 54.8 million, advanced another 2 cents. all positive atm. anybody have any idea who,s buying such numbers?
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Wow.... Were you watching the market today? What time did the amount of shares sky rocket to that much!?

Hoping to see a good run from Grange, broke the 40 mark and closed at .41.

As i said previously the only valid explanation I can see at the moment is that resource stocks are in the spotlight at the moment and in particular Iron Ore as benchmark prices are due to be released in the next 4-6 weeks and the expectation is that they will be significantly higher.

Grange still has plenty of cash to start the Southdown Project and has worked at improving the cost per tonne at Savage River.....

Things are looking good.... I am a big believer in GRR....

http://www.businessday.com.au/break...s-want-iron-ore-price-hike-20100304-pkr5.html

Also just found that link, confirms my thoughts on Iron ore in the spotlight....
 

Didn't get a time line on the big movers, but 234 trades today. Read a similar article on expected movement in the iron ore price and it will certainly impact on Grange in the upcoming 12 months.
I am a recent holder but significant movement of late, am hanging out for more.....
 

Hi MiFFy, from one Tasmanian to another (by birth), GRR has always excited me. I am really curious as how Grange has impacted on the local community there and whether the infrastructure is going ahead in leaps and bounds.They put on 5.1% 2day and my other fav. WPG 8.2%.
 

Hey Buckfont, Sorry but I was actually born in VIC lol. As for Granges impact on the local community.... no doubt that it does pump a lot of money through our communities on the North West coast but to be honest it is very hard to measure.

They employ around 600 people plus contractors and have an office in Burnie. I know of certain businesses that rely on Grange for sustainability, businesses that have grown because of the work Grange has given them.
 
Nice to get some long awaited action.

I enjoyed the fact that it made strong gains right into the end of trading, really chased up into its previous high, and unlike it's previous attempt at a re-rating this time we are to close to the end of march with to much support to see any significant profit taking (imo of course).

Recently looked into FRS, GIR, TLM, MGX, AGO and IXR (not in great depth) but GRR still my fav.

I love the fundamentals but looking from TA perspective (and taking all things into consideration - mainly leads from US, which imo will rally on the back of commodity prices for another 2 months or so) I can't see much resistance till around $1 and I would not be surprised to see GRR at $1.50 in under two months.

HT GL and as always DYOR

(Disc: I have been self educating for 6 months and trading for 2.1 so I am still very much a noob )
 

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Speculator said:
I can't see much resistance till around $1 and I would not be surprised to see GRR at $1.50 in under two months.
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Nearly fell off me chair, Rightttttttt.
As da man says "DYOR" (Do Your Own Research)...............!
 
MR. said:
Nearly fell off me chair, Rightttttttt.
As da man says "DYOR" (Do Your Own Research)...............!
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Hehe so I am perhaps a little over enthusiastic (maybe I've become sentimentally attached 2 GRR) but as always time will tell
 
MR. said:
Nearly fell off me chair, Rightttttttt.
As da man says "DYOR" (Do Your Own Research)...............!
Click to expand...

Haha, you never know mate, I certainly believe it will get there at some point....


But i am hoping its in the next financial year lol.....
 
Another 32+ million trade went through this afternoon. Is this another institution buying in before the IO price upgrade. As long as the SP keeps going north, I'm happy.
 
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