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SVM - Sovereign Metals

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YOUNG_TRADER

Joined
18 February 2006
Posts
4,200
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WOW what an IPO,

Applied but got knocked back, 6 applications from 6 different accounts all knocked back,

Managed to pick up 20k opies on the open at avg 15c


Shares: 40m +15m 20c 30/6/2010 opies

This stock is an ECH spin-off that holds all of its Qld Copper Gold tennements,

Tennements which surround the likes of Mt Isa, Cloncurry, Enrnest Henry and ROCKLANDS (Anyone remember AUM/CDU)

So its not surprising that the stock is being bought up like it is on the open

Keep an eye on this one
 
Re: SVM

Should add that IPO raised over $6.5m

There were next to no vendor shares, so nearly all the 40m shares were IPO, with a few being given to ECH for spin-off

40M shares +15m 20c opies = 55m Fully Dilluted

@ 40c = $22m
@ 60c = $33m
@ 80c = $44m

I can't stress how prospective its grounds are, if you look at the IPO page 17 shows its grounds, one of which is about 1-2km's North of CDU's Rocklands,

Most of the really prospective tenements are in a JV with Xstrata including the one thats 1-2km's north of Rocklands
 
It's only opened up 110% YT. Doesn't look that impressive to me. Shame you didn't get one of those applications filled.
 
Just goes to show these things are a bit random.. put in one application, got filled.

Sold out for over 100% profit (needed the cash! lol) but still have those oppies.
 
feeding_the_fire said:
Just goes to show these things are a bit random.. put in one application, got filled.

Sold out for over 100% profit (needed the cash! lol) but still have those oppies.
Click to expand...

What?????????????????????????????

How many did you apply for/get?

I can't believe that
 
Applied for 20000, got 10000.

Spent most of the time cursing I'd signed in... thought it would be a dog as I hadn't heard one bit of buzz about it!
 
feeding_the_fire said:
Applied for 20000, got 10000.

Spent most of the time cursing I'd signed in... thought it would be a dog as I hadn't heard one bit of buzz about it!
Click to expand...

I'm cursing that i didnt get in at all!

SVM has peared back a bit to 42c from its high of 47c but jeez who could complain with that type of first day!

One to watch see how it cuts its teeth after a spectacular entrance.
 
Re: SVM

Looks to be up and onward

Buyers clearly keen to get this stock

Glad I managed to scrap 25k opies at avg 15c

Should have got more but I just wasn't willing to pay up to 20c, NOW AT 37c

But at least I've got a few

 
Just a reminder about this gem,

Now looks like a good time to accumulate if you like the story as it appears to be bottoming out at 40c,

I know the mkt will go bonkers when they realise

1. Xstrata have farmed in to many of the tenements

2. Alot of the tenements surround Mt Isa, Cloncurry, Ernest Henry and ROCKLANDS, I area is about 1-2kms North of Rocklands

Do yourself a favour and do some research before its too late
 

This isn't known yet? Can't find the Xstrata info in the prospectus but Rocklands is mentioned 8 times.

So is *ugh* Mary Kathleen: isnt that the GSE tenement?

Other significant mineral deposits within the inlier are the Mary Kathleen U deposit, the Roseby Cu-Au project that includes the Little Eva and Blackard deposits, the shear hosted Mount Cobalt Co deposit, and the recently discovered Rocklands Cu-Co-Au project, all of which occur within the Eastern Fold Belt. The recently discovered mineralisation at the Rocklands Project appears to have true intersection widths of approximately 60m and to be associated with a northwest trending shear zone. Adjacent sub-parallel shear zones pass along structural strike into nearby Sovereign tenements.
 
Must be something that I do not understand about how information spreads. I am new at this.

The following is from The Age newspaper, 22 January 2007, day of float:

Sovereign's entry to the market followed an initial public offering of 29.6 million shares to raise $5.92 million, and a further 4 million shares to raise another $800,000 in over-subscriptions.

The company was established primarily to participate in the prospective Carpentaria joint venture, a copper exploration project covering six tenements over 635 square kilometres.

The venture is managed by Xstrata Copper, with Sovereign contributing about $2.1 million to exploration over the next two years and a drilling program that started late in 2006.
 
Atomic5 said:
The venture is managed by Xstrata Copper, with Sovereign contributing about $2.1 million to exploration over the next two years and a drilling program that started late in 2006.
Click to expand...

I didn't realise the drilling program started late last year, we could have assay results soon,

From what I gathered from prospectus Xstrata did the drilling on the tennements near Rocklands,

Well I bought another 50k opies at 21c, I'm not going to stand back and just watch this one as I did with AUM/CDU
 
what chance those buyers - what a gap

one side of the market ain't gettin the picture - which one though

cheers
 
Guys this one is on my watchlist since IPO.

Shareprice today drifted back to $0.35 ; starting to become good value for a punt... Nothing at all has changed since listing and I am beginning to get itchy feet as it comes toward my buy target. Didn't think I'd get the opportunity

Current fully dilluted mkt cap = ~ $21m

I am of the belief that the tenements are in strong locations even though management may be one of the weaker links. But Xstrata are onboard with certain tenements.

If this drifts much lower I believe it becomes a buy. With 15 tenements in the Isa / Cloncurry districts it has good prospects with drilling commenced late 2006 (as highlighted by YT).

High risk but high reward is evident in SVM.
 
Bounced back today , 14 odd%, sometimes shares with low volumes are just fantastic! Picked up some options yesterday at .19c and some again today at .19 and trying at .205c seems great value at this stage.
 
Somethings up, buying was a bit too aggressive, either silly buying or can expect an ann soon, perhaps drilling results from Xstrata exploration?
 
Maybe they read this forum YT

The drilling happened after the decision to float, in an area where Xstrata is already active. I get the feeling they know the Cu is there. It's just a matter of how much is there and when the results will be released.

6-7 weeks is about right from drill to assay isnt it?
 



Spoke to company to confirm Xstrata drilling was completed in Dec over tennements near ROcklands, was told that drilling was completed in Dec and they are waiting for a report from Xstrata so that they can ann drilling results,

Being only 2kms from Rocklands, if there are any meaty hits WATCH OUT!
 
hey yt been able to jump on this one while there was no interest. filling up at 33 and 34 cents.

when are the first drill results due? this one is very tightly held, massive potential in the tenements. small shares on issue, which is why we have seen small price action cause huge sp movements.

great JV partner with xstrata
 
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