GTE - Great Western Exploration

According to Uran, float was supposed to be today, I guess it's been delayed a day or so. I got my allocation, though my application was scaled back by 33%. According to Uran's April 27 announcement

Quote The Directors of Uran Limited advise that the Great Western Exploration Limited IPO has been heavily oversubscribed Unquote

Plus I also received Uran's in specie distribution of GTE approx 1 GTE for every 10.17 URA shares.

The oversubscription of the offer should be a good sign for the inital trading when it starts.

regards YN

 

Well, I got mine today as well I was surprised the amount I got just for owing URA... Lets hope it is better than URA...

 

I also recieved my letter a few weeks ago,

does anyone know what price gte are listing at? I was looking on asx but i couldn't find anything.

 

Wouldn't this mean that there has been too many shares issued and more likely to turn prices downward?

Regards

Larry

 

Not really, they had to turn away applicants, or at least reduce their allocations, for eample I applied for 15k and only got 10k.

I'd be interested to know when they will list, I thought it was to be on May 23rd. Maybe their waiting for a suitable "up" day, although the past 2 days would have been OK.

 

Announcement out today saying that it will start trading on Tuesday 5th June at 12:30. Will be interesting to see what happens as there aren't a lot of shares on issue for this company with nickel potential.

 

Yes, and the issued price is only at 20 cents per ordinary share, total letdown. Something aroung the 20 dollar mark would have been nice. lol

 

Here is a link to an article about the upcoming float in GTE.

http://www.tradingroom.com.au/news_...ished/2007/6/154/catf_070603_160400_4279.html

Looks like only 4 million shares were for the public, all the rest went to URA shareholders, 5 million in-specie and 11 in the float. Could have a reasonable open considering the limited availabilty to the public.

Larry, I think you may be confused between the issued float price and the opening price. Float price is what people paid to receive shares in GTE and thsi is a fixed amount in the prospectus and the open price will be determined when it lists this week.

 

GTE opened at 26c and is selling around that price for the first hour or so. Not a bad opening, 30% up on issue price. regards YN.

 

Broken out BIG time today, high of 46c and up to almost 60% today. Nice float, glad I got in on it...

 

BTW yelnats may I ask if the 15k and 10k refers to shares or dollar value? BTW yelnats may I ask if the 15k and 10k refers to shares or dollar value?

 

Mousie, I got allocated 10,000 shares, having applied for 15,000. Wish it was $10,000 worth of shares, after today's lift-off.

Has anyone got any ideas as to the cause of today's run, maybe an ann. in the wind? Or maybe, the market is reassessing GTE's worth and perhaps it is apparent that it should have listed in the 40's on Tuesday.

regards YN

 

Yeah that's along my lines of thought; wasn't too pleased with getting only the minimum as well. If you'd gotten $10k worth I'd be expecting you to have held a lot of URA back then.

No idea as to today's rise personally, but with only a few ks in GTE I don't mind waiting to see what pans out.

 

Potential to have a run here if it breaks 22c. Support at 16.5ish

Explorer not producer still

Disc: I hold some

 

Maybe one to watch!?

Great Western Exploration
Drilling commences at Doolgunna

http://www.asx.com.au/asxpdf/20101203/pdf/31vcnws29sfppf.pdf

 

Since Burglar's comment 3rd Dec. GTE has moved 17% on the drilling announcement of that day at Doolgunna.

No further news flow, but the sp is strong, has volume behind it and a bullish MACD. Whether this is a supported move who knows, looking into fundamentals now....about 11AM they were up 10% today.

Thought I would bump it for anyone interested. Could call it a potential breakout.

 

Anyone following this still ? I have been following TLM but decided to take a look at GTE as TLM has been so slow at getting any news out .. Could start seeing some news from drilling in next two to three weeks ..

 

Well looks like GTE just broke out with new high.. Someone is definetly expecting some good drill results very shortly .. would be nice if you were one of the SI at 30c..