DRG (Draig Resources Ltd, formerly was CEO)

[whatsup]

Spp letter ou, explains all.

[Anna Naum]

Participation in the Plan is open to each person registered as a holder of ordinary shares in the Company on 20 November 2009, who has an address in Australia and New Zealand (Eligible Shareholder).

Eligible Shareholders registered by 5.00pm on 20 November 2009, will be offered the opportunity to subscribe for up to $15,000 in value of ordinary fully paid shares in the Company at an issue price that will equal a 20% discount to the average market price of the Company’s shares on the ASX calculated over the 5 trading days prior to the allotment of shares under the Plan, but in any event not less than $0.012 per share.

[Anna Naum]

50% underwritten

[steve fleming]

From crazyjimsmith forums.....for what it is worth.....as IMO he has got his analysis wrong, i can't see that much value in CEO now.

__________________________________________________ __________
"C @ Ltd (CEO) (http://www.google.com/finance?q=ASX%3ACEO) is yet another failed technology stock that is now looking to move into the resource sector and on Thursday last week trading was suspended when the company had announced (http://stocknessmonster.com/news-item?S=CEO&E=ASX&N=468148) that it had entered into a Heads Of Agreement to acquire two very prospective iron ore prospects located near Sundance Resources' (http://www.google.com/finance?q=ASX%3ASDL) multi billion tonne iron ore project in Africa.

With a tight market cap, the forum was hopeful that the stock would not take off today and luckily today's gains were modest, thus allowing us to acquire the shares on the cheap!

There are 220 million shares on issue here, the current market valuation at today's close of 1.8c is less than $4 million! The projects being acquired look like they will contain multi billion tonne reserves of iron ore but bear in mind it is still very early days, and nothing has been proven yet!

The risks are extremely high here so don't go mortgaging grandma's house!


But if you decide to buy a small parcel of shares and hold on, the potential returns could be 1000% or greater as this stock still seems to be flying under the radar with most people still unaware of the opportunity being presented here."
__________________________________________________ ______________

[drillfix]

[QUOTE=steve fleming;281551]for what it is worth.....as IMO he has got his analysis wrong, i can't see that much value in CEO now.


Steve, does this mean you are saying CEO will turn out to be a Melon?

I see it as very highly speculative, and over there in Africa, but yet in Congo, with a Dirt Track cut out of the forest with a bulldozer, and some tree's fallen to make a camp which probably evicted some Gorilla Families for the picture?

Regardless of what anybody says, the unknown is still the unknown until proven otherwise. With what exact facts are known, there are still many questions on this one. As in, ie: Railways, the maps the co shows only Potential Railways, they still need to be built, they still cost money, take time and meander through hills and valleys.


I think there is long term potential here but too many unknowns for my liking.

Bought options and sold for with no profit and loss and recently bought some of these to take part in the SPP only. But then there are alot of folks doing that, and alot of folks who dont really care less for what the company does or doesnt do.

Once the spp is issued, it will be like a Mad race for the door which means potentially there is no point in getting in these for the spp.

Would I be correct with such logic?

Anyone??

[steve fleming]

[quote=steve fleming;281551]for what it is worth.....as IMO he has got his analysis wrong, i can't see that much value in CEO now.


Steve, does this mean you are saying CEO will turn out to be a Melon?



Hi df,

It won't be a melon, but it definitely won't be a big multibagger as crazyjimsmith suggests - not in the short term at least.

What crazyjimsmith and others don't appreciate is that CEO's true m/cap is not $4m as he says, but is closer to $150m when you include the issue of shares to acquire the projects.

When you compare the CEO projects and m/cap to SDL's m/cap of $350m, you can see that there is some upside, but definitely not a short term multi-bagger as CEOs m/cap is too large now.

Then again, this stock is well and truely controlled by Pattersons, who may have their own agenda to pump it.

[whatsup]

From crazyjimsmith forums.....for what it is worth.....as IMO he has got his analysis wrong, i can't see that much value in CEO now.

__________________________________________________ __________
"C @ Ltd (CEO) (http://www.google.com/finance?q=ASX%3ACEO) is yet another failed technology stock that is now looking to move into the resource sector and on Thursday last week trading was suspended when the company had announced (http://stocknessmonster.com/news-item?S=CEO&E=ASX&N=468148) that it had entered into a Heads Of Agreement to acquire two very prospective iron ore prospects located near Sundance Resources' (http://www.google.com/finance?q=ASX%3ASDL) multi billion tonne iron ore project in Africa.

With a tight market cap, the forum was hopeful that the stock would not take off today and luckily today's gains were modest, thus allowing us to acquire the shares on the cheap!

There are 220 million shares on issue here, the current market valuation at today's close of 1.8c is less than $4 million! The projects being acquired look like they will contain multi billion tonne reserves of iron ore but bear in mind it is still very early days, and nothing has been proven yet!

The risks are extremely high here so don't go mortgaging grandma's house!


But if you decide to buy a small parcel of shares and hold on, the potential returns could be 1000% or greater as this stock still seems to be flying under the radar with most people still unaware of the opportunity being presented here."
__________________________________________________ ______________

Have a look at the trades of 30,000 today people getting into the minimun holding for the SPP before the registration cut off day of 20/11/09. surely all of these so called considerate investors cannot be too far wrong.

[axion]

Have a look at the trades of 30,000 today people getting into the minimun holding for the SPP before the registration cut off day of 20/11/09. surely all of these so called considerate investors cannot be too far wrong.

Hah, what? I really wouldn't weight the ability of people too highly just because they are trying to get $15k worth of shares.

I'm also not interested in this, but mainly because the shares will be at a 20% discount, and I'm pretty sure that standard volatility of this share could wipe a 20% discount out pretty quick. (And that's not even thinking about the project itself)

The only advantage is that the people running it (apparently) know what they're doing.. but other than that, meh.

[whatsup]

Hah, what? I really wouldn't weight the ability of people too highly just because they are trying to get $15k worth of shares.

I'm also not interested in this, but mainly because the shares will be at a 20% discount, and I'm pretty sure that standard volatility of this share could wipe a 20% discount out pretty quick. (And that's not even thinking about the project itself)

The only advantage is that the people running it (apparently) know what they're doing.. but other than that, meh.

The same was said when CCU did their SPP and look what happened SPP at .06 , 5 months later .40 not toooooooo baaaaaad !!!.

[steve fleming]

Whatsup, whatsup with CEO?

Deal now off and CEO looking the strongest it has been in ages.

Massive X trades in the heads and options yesterday and Tuesday...


Somethings up.....

[steve fleming]

Whatsup, whatsup with CEO?

Deal now off and CEO looking the strongest it has been in ages.

Massive X trades in the heads and options yesterday and Tuesday...


Somethings up.....

CEOO options now up 100%

wonder what Pattersons are up to?

[whatsup]

Have always held the CEO'Os as thats where the action is and a while still to run , 2 years, yes the market is telling a story and Im listening after the Core deal fell through last week, little action in the heads but all go on the options, whatsup?

[Novitiate]

Anybody still watching CEO? I see they had a bit of a price rise this morning followed by a Trading Halt this evening.

[whatsup]

CEO ann out new direction---coal, rights issue ( underwritten by Patersons ), new M D and a new direction, this could just come off after the faulse start with the iron ore project in Africa. DYOR.

[whatsup]

Anybody still watching CEO? I see they had a bit of a price rise this morning followed by a Trading Halt this evening.

Take up your warrants at the basement price of .008 /share, DYOR but look whats happing to HUN , could happen again!

[whatsup]

Take up your warrants at the basement price of .008 /share, DYOR but look whats happing to HUN , could happen again!

For all those that took up their rights ay.008 they today are selling at .015 not quite 100% increase in 10 days and heaps more to come, CEO could easily be a 5 bagger this year--- 2010 DYOR.

[steve fleming]

For all those that took up their rights ay.008 they today are selling at .015 not quite 100% increase in 10 days and heaps more to come, CEO could easily be a 5 bagger this year--- 2010 DYOR.

yeap....took up my all rights at 0.008

Today up to 0.018....so easy 125% in just over 2 weeks...

Not surprsingly, looks like the Patersons boys and their mates all managed to do very well in the underwriting.

A typical Patersons play - hold down the shareprice, then a generous rights issue to get them and all their Patersons mates all set, then miraculously, as soon as the raising is finished, the price surges.

Dodgy as hell, but at least I have been able to make some money out of it.

[whatsup]

yeap....took up my all rights at 0.008

Today up to 0.018....so easy 125% in just over 2 weeks...

Not surprsingly, looks like the Patersons boys and their mates all managed to do very well in the underwriting.

A typical Patersons play - hold down the shareprice, then a generous rights issue to get them and all their Patersons mates all set, then miraculously, as soon as the raising is finished, the price surges.

Dodgy as hell, but at least I have been able to make some money out of it.


A F but first you have to discover what the new ceo has brought to the table in Mongolia, this is only the start we then have to pay for the new discovery via ( Im suspecting ) a discounted rights issue. watch this space.

[whatsup]

For all those that took up their rights ay.008 they today are selling at .015 not quite 100% increase in 10 days and heaps more to come, CEO could easily be a 5 bagger this year--- 2010 DYOR.

Good volumn today, actually P M, something is up as the share is up 17 %, this could turn out bigger than Ben Hur imho.

[whatsup]

Record volumn today and up 15% for the heads and 54% for the oppies,,, let the game begin. Colin are you still on board , ROB also showing signs of a stiring, thanks for that.

[whatsup]

Ann out Friday re purchase of Mongolian coal asset in partnership with its vendor

[DTB]

Strong close last night and up again this morning - Ann coming soon?

I just hope 2011 continues the way 2010 finished up!

[whatsup]

Good volumn and apprecation today, all aboard to get seated before this shell takes off, once a new venture ( hopefully a miner-coal ) gets back doored into this shell, with a rerating we could be trading north of .10c, holder since .008, go you beaut. !!!

[DTB]

Good volumn and apprecation today, all aboard to get seated before this shell takes off, once a new venture ( hopefully a miner-coal ) gets back doored into this shell, with a rerating we could be trading north of .10c, holder since .008, go you beaut. !!!

Just think where the sp would be if we had those shameless rampers over on NDL on the job!

[whatsup]

All aboard for coalland, up 15% today something MUST be cooking shortly!!!

[DTB]

Just doubled your money again today whatsup - Nice one!

[whatsup]

Just doubled your money again today whatsup - Nice one!

Yeh, DT., could be worth over .50 ps before the music stops- who knows when !

[whatsup]

Up another 13% in the first 1/2 hour so far today !!

[drillfix]

Speeding ticket.

There seem to be a few of these all floating around yesterday late PM of late. But guess there will be more to come as well :P

[whatsup]

Up another 13% in the first 1/2 hour so far today !!


UP yet again today 10-15% should blast through .05 , who IS NOT aboard ?

[drillfix]

I only have a small position in these wu, so not really on board.

Saying that, have held the shares since 1.7c and a small parcel of options since 0.004 :p

Will just hold on to these for whatever reason till complete victory or complete whatever.

But meanwhile back at the ranch, may be in and out here and there for a couple of trades too :)

[steve fleming]

I only have a small position in these wu, so not really on board.

Saying that, have held the shares since 1.7c and a small parcel of options since 0.004 :p

Will just hold on to these for whatever reason till complete victory or complete whatever.

But meanwhile back at the ranch, may be in and out here and there for a couple of trades too :)

Still in these df??

I have a suspicion a deal is very close!!

[drillfix]

Still in these df??

I have a suspicion a deal is very close!!


Hi Steve,

Actually, Yes I do have both a few heads and options which I may have mentioned were leftovers from other trades that got taken out when selling, but left a tiny amount (unmarketable parcels I think they call them) so not worth the brokerage to sell. Unless of course I buy some more and then sell the additional leftovers from previous when exiting.

Pitty I never held as it has turned out to be some nice bagging on this one.

Perhaps I need to do a course in Patience like how you are able to discipline yourself there Steve. :)

If there is such movement/volumes perhaps something is brewing and on the way. In which case with my situation, I dont mind paying a partial premium providing I dont have to hold months upon end, so some directional action would suit me just fine if timed well.

Hey, are you still holding CZN at present? What are you thoughts on that stock, or maybe best to talk about that in the CZN thread to keep the context correct.

Cheers for now~!

[steve fleming]

Still in these df??

I have a suspicion a deal is very close!!

Well the deal was very close- and it is pretty much done now.

CEO is going crazy now.

Going to be interesting to see how they manage the c/r.

Mongolian coal close to China I imagine they'll have sophisticateds beating down Patersons doors to get on this.

[drillfix]

I think today's top has been reached at 8.6c.

Sellers are now doing the Lunch Time pile up and getting ready to run for the door prior to the Easter long weekend holidays.

Seems to be some divergence in the 60 minute MACD histogram that suggests a not as strong close as yesterday so due to that, I would make an approximation for a close of around or at 7.5c perhaps even 7.2c

Since starting the post, the volume of sellers coming out now have increased 25%

Usually most folks like to be outside the trading door by 3pm this leaves the stock volatile up to that time but anything can happen within the last 20 mins.

Just some food for thought speculation here folks, sometimes just watching this trade is entertaining :)

Cheers~!

[whatsup]

I think today's top has been reached at 8.6c.

Sellers are now doing the Lunch Time pile up and getting ready to run for the door prior to the Easter long weekend holidays.

Seems to be some divergence in the 60 minute MACD histogram that suggests a not as strong close as yesterday so due to that, I would make an approximation for a close of around or at 7.5c perhaps even 7.2c

Since starting the post, the volume of sellers coming out now have increased 25%

Usually most folks like to be outside the trading door by 3pm this leaves the stock volatile up to that time but anything can happen within the last 20 mins.

Just some food for thought speculation here folks, sometimes just watching this trade is entertaining :)

Cheers~! Drill have noticed that over the last month or so most of the trading and price push happens in the morning trades in Aussie , after lunch things go quiet and drift off on smaller volumn, strange pattern.

[drillfix]

Drill have noticed that over the last month or so most of the trading and price push happens in the morning trades in Aussie , after lunch things go quiet and drift off on smaller volumn, strange pattern.

Hi WS,

Yes mate, been a funny type of year really, with many odd patterns coming and going to say the least.

That pattern you speak of is not just recent that is pretty much the way the game is played with many of the blue chip stocks as you know.

Some say they trade them and want to be done by 11 - 11:45 am so some trades will only last an hour or two depending on whats going on with the stock.

I dont know if its just me but for whatever reason I feel I am becoming a bit superstitious towards certain trades of late. Its hard for me to explain what I mean by this because its something that maybe I cannot explain, but I feel it and know that its there, and I dont know what to call it. (some say its called paranoia some say whatever...lol)

Anyway, hope you had a good day there mate~!

[drillfix]

I think today's top has been reached at 8.6c.

Sellers are now doing the Lunch Time pile up and getting ready to run for the door prior to the Easter long weekend holidays.

Seems to be some divergence in the 60 minute MACD histogram that suggests a not as strong close as yesterday so due to that, I would make an approximation for a close of around or at 7.5c perhaps even 7.2c



Bingo Ringo~!

Well folks, picked the peach of the tree today but although I did not trade CEO (even though I hold a small parcel long) I managed to nail the close with the good help from my good friend TA.

For those that wonder how does somebody pick the close of a stock that trades a volume of 284,440,337 shares in a day that OPENS at 7c, then creates a LOW of 6.4c and then creates a High of 8.6c for a total value of $22.058 Million dollars, here is how I do it.

First this, check out the chart or part of the screen shot from my IB account:

CEO Daily, 60min, 15min, 5min & BT >>> http://www.imageurlhost.com/images/pqq23xsk08sgrlg13kqa.png


One way is, I add a Fibonacci Line from the Low of where the actual Run Started from being the previous couple of days Low prior to the run starting.

Sometimes I can use the open from where the actual run started, but in this instance with CEO today I used Tuesdays 4c as a starting point.

Sometimes, FIB drawing can work better one way, or the other and you need to try each one to see where more Fib consistencies occur and then use for that position accordingly to help you in your estimation and you will find, it usually will work, or work quite frequently.

Back to the chart, if you look at the bottom left Hourly chart you can see the MACD Histogram starting to show Divergence (declining smaller) and the signal lines moving closer together. The histogram shows after CEO made its high started moving lower by the hour.

Having saw that (the lowering MACD Histogram) the odds are that Price will not break higher than the previous high while we make lower lows on the histogram thus, making the obvious call set to the FIB lines drawn which was at the 76.4% line, and many times as well it is the 61.8% line which also displays strength of the current rally.

There is a saying among some insto's that should a trade come back to finish (in that trading day) and close below the 50% FIB then your odds for trading an uptrend over the next day or two will become very much less. As above, FIB levels 76.4% and 61.8% are strong indicators and below this level the odds become less in your favour.

Well, there you have it. You can also see some other charts being the 15min and 5min chart along with Book Trader which can show you some depth and volume, which is a handy thing to have viewable because as you can see, it shows the low, and the high as well, along with the pressure of buying volume and sell volume and also a histogram of volume to show you where most of the buying has been.

We can switch from the 5 minute to a 1 minute chart or 30sec chart if you wish, but I find that with a combination of a 60, 15, 5 (switchable) this can keep you on the right side of a trade with your 13ema being which side of the fence you are on. A little rule of thumb is that if you enter on a 15 min chart, then you better Exit on a 15 min chart otherwise you can get shaken all over the place in and out of trades too much.

Conclusion.

Viewing the last 15 minute candle on the 15min chart shows the breakthrough of the 13ema is negative.
With the 60 minute MACD histogram giving divergence we could see a retrace to the hourly 6.8c target which is the 61.8% FIB
If there is no bounce off the above the 50% FIB will be test, if not then then a bounce could test the previous high.
If a higher high is made a new FIB will be drawn or added.
With what fundamentals that have been presented, this has driven this price, attracting traders however, this will eventually back off and price will trade in a range for a set duration of which the stock is re-rated until the new News comes out or until concluded results come out and get issued to the market.
If the price continues to rise too soon, too fast then any news that gets issued will create a sell off as Price by traders will have already been factored in.

It may be also that the last 15 minutes enabled many traders to dump due to the Long Easter/Anzac holiday period, other than this the rally may still be kept in tack due to the strength of the close on the higher upper 76.4% Fib line.

Well there you have it folks.

I hope you all have enjoyed my little commentary and prediction today & demonstration to how some TA works, as lord knows, I have :)

Have a wonder Easter all, and catch you on the weekend sometime for XAO and other market charting babble.

Cheers~!

[STRAT]

Bingo Ringo~!


First this, check out the chart or part of the screen shot from my IB account:



Cheers~!Wow Drillfix. That makes my eyes sting. Looks like you could control a Space Shuttle from that dash board :D

[percy]

Hi Drillfix,
My day was some what different from yours,however very exciting never the less.I held myself at the ready [as I do most days],then I saw PAZ [on the NZ unlisted market] announce their annual result.Turnover well up,profit well up,cash flow good,and talk of taking the company to the next level brought me into 100% greed mode.I noted a lot of recent activity,ie 240,000 traded on 19/4/11 and 449,442 on 25/1/11 meant to me insiders could not hold themselves back to after the result,so I would have to move quickly.So after having my afternoon nap,and my Milo, I swung into action and rang my broker and moved the market [in PAZ]up with my trade.I am looking forward to the Easter break to recharge my batteries as having seen trades in TEO, a crossing in HIT, my PAZ trade, I feel the market may be getting a little overheated .!!!.
lol ,have a great Easter.

[STRAT]

Good thing its a long weekend Percy. You certainly have exerted yourself this week :D

[drillfix]

I feel the market may be getting a little overheated .!!!.
lol ,have a great Easter.


Hi Percy, yeah it could be just start to be looking like that, but just need to keep an eye on both the daily and weekly XAO and should we get close to another test of the 5025 or the 5,065 where the previous high was may be a time for caution.

In the meantime its back to tip toe through the tulips :)



Wow Drillfix. That makes my eyes sting. Looks like you could control a Space Shuttle from that dash board :D


Gee Strat, I thought you would of notice more about the call I made rather than the Shuttle Dashboard...LOL But no worries~!

[steve fleming]

From mergermarket today – looks like CEO is after $10m. I assume Pattersons will have no trouble raising that, given the dual-pronged coal strategy CEO is developing.


-----------------------------------------------
C@ could raise capital for new coal focus in Mongolia, Indonesia; may hire advisor, MD says
C@, an Australian-listed wholesaler of eye care products, is changing course to become a coal-focused mining company and may raise more than AUD 10m (USD 10.9m) in capital to help explore and develop prospects in Mongolia and Indonesia, managing director Mark Earley said.
C@ will seek a financial advisor for the raise, or for other strategic agreements it has in the works.
Perth-based C@ is currently conducting advanced due diligence on its prospects in Mongolia and Indonesia, and barring any negative outcome, will entirely become a coal resources company. The company has been in the process of winding down its optical business, which had under-performed since late 2008.
C@ is currently signed up for eight licenses in Mongolia with a joint venture it has in place with Trinity Mongolia. It is just starting out in Indonesia where it has just signed a strategic agreement with PT Ethica Trade Cementing, a private company, which will allow it to acquire coal assets in Indonesia he said. That agreement could eventually become a joint venture agreement, involving a minority equity contribution from Ethica.
The company's future focus will be split between Indonesia and Mongolia, which it sees as a hedge against each other to counter any domestic coal price increase from China, said Earley.
It finds Mongolia attractive for a number of reasons including low-entry cost in the country. Timelines for running coal operations are 15% to 40% quicker than those in Australia, said Earley. Indonesia has traditionally served the markets in Japan, Korea and Taiwan, he added.
C@ hired Earley, who has more than 30 years of experience in coal industry in Asia, in September 2010 to explore coal assets in Asia. The company will be looking to re-brand in the coming months in line with the new strategy, he said. Its current market cap is about AUD 26m.

[whatsup]

From mergermarket today – looks like CEO is after $10m. I assume Pattersons will have no trouble raising that, given the dual-pronged coal strategy CEO is developing.


-----------------------------------------------
C@ could raise capital for new coal focus in Mongolia, Indonesia; may hire advisor, MD says
C@, an Australian-listed wholesaler of eye care products, is changing course to become a coal-focused mining company and may raise more than AUD 10m (USD 10.9m) in capital to help explore and develop prospects in Mongolia and Indonesia, managing director Mark Earley said.
C@ will seek a financial advisor for the raise, or for other strategic agreements it has in the works.
Perth-based C@ is currently conducting advanced due diligence on its prospects in Mongolia and Indonesia, and barring any negative outcome, will entirely become a coal resources company. The company has been in the process of winding down its optical business, which had under-performed since late 2008.
C@ is currently signed up for eight licenses in Mongolia with a joint venture it has in place with Trinity Mongolia. It is just starting out in Indonesia where it has just signed a strategic agreement with PT Ethica Trade Cementing, a private company, which will allow it to acquire coal assets in Indonesia he said. That agreement could eventually become a joint venture agreement, involving a minority equity contribution from Ethica.
The company's future focus will be split between Indonesia and Mongolia, which it sees as a hedge against each other to counter any domestic coal price increase from China, said Earley.
It finds Mongolia attractive for a number of reasons including low-entry cost in the country. Timelines for running coal operations are 15% to 40% quicker than those in Australia, said Earley. Indonesia has traditionally served the markets in Japan, Korea and Taiwan, he added.
C@ hired Earley, who has more than 30 years of experience in coal industry in Asia, in September 2010 to explore coal assets in Asia. The company will be looking to re-brand in the coming months in line with the new strategy, he said. Its current market cap is about AUD 26m.


Balanced update S F , this should IMHO be a great ride for the patient with many good trading opportunities along the way.

[whatsup]

Coking prospect inentified in Indo now and moving on 2 fronts Mongolia and Indo, great work D D in place for 10 weeks starting from 6th May.

[whatsup]

CEO, Up 21% today must be in the top 20 rises for today on the ASX, $1,000,000 traded for 16 m shares traded, drilling underway at present in Mongolia to prove the coal/coking coal resource which should be ann in the next month , punters positioning them selves for the relaunch as a coal producer in one of the hottest commodities in one of the hottest countries atm-- Mongolia.

[whatsup]

CEO, Up 21% today must be in the top 20 rises for today on the ASX, $1,000,000 traded for 16 m shares traded, drilling underway at present in Mongolia to prove the coal/coking coal resource which should be ann in the next month , punters positioning them selves for the relaunch as a coal producer in one of the hottest commodities in one of the hottest countries atm-- Mongolia. BIGGGGGG day today hit .12 but retraced to 10.5 WOW +++

[whatsup]

For all those that took up their rights ay.008 they today are selling at .015 not quite 100% increase in 10 days and heaps more to come, CEO could easily be a 5 bagger this year--- 2010 DYOR.


For all those holders of CEO and CEOO who are still there, CEO today hit .12 was .015 and CEOO was .005 hit .11 today, hold on there is so much more to come here, have a look at AKM and that should be repeated for CEO --- I can see .50 or better if the todays good new keeps coming, this is very early days still if the rebirth of CEO.

[drillfix]

Yes WU, Super day for CEO.

Charts EMA's spreading a part are looking great. A real buy the news type of day today for CEO.

Looking at the 60 min chart there is some divergence in the MACD histogram so one would think we could expect some weakness of over the next day or two yet who knows what more news awaits this co.

A little Gap also exists between the 7.6c and 7.8c. Many traders would have wished that gap had gotten closed when the chance was there, so perhaps at some stage that might be something else to watch out for on the next rotation of indicators, but who knows. Time will tell.

[whatsup]

For all those holders of CEO and CEOO who are still there, CEO today hit .12 was .015 and CEOO was .005 hit .11 today, hold on there is so much more to come here, have a look at AKM and that should be repeated for CEO --- I can see .50 or better if the todays good new keeps coming, this is very early days still if the rebirth of CEO.


Hit .15 so far today , buying is retentless today.

[drillfix]

This is amazing, seems there is some Insto buying on market getting on board. Dont know which one, but they got the $$ to do whatever.

Looking extremely overbought though, yet the 60 minute chart continues to plow on. RSI and OBV are off the scale nearly.

More news on the way? Perhaps, but could this be priced in, at some stage this has gotta take a breather, IMO.

ps:
So much for rotation of the indicators.

Sellers vanishing it seems.

[steve fleming]

This is amazing, seems there is some Insto buying on market getting on board. Dont know which one, but they got the $$ to do whatever.

Looking extremely overbought though, yet the 60 minute chart continues to plow on. RSI and OBV are off the scale nearly.

More news on the way? Perhaps, but could this be priced in, at some stage this has gotta take a breather, IMO.

ps:
So much for rotation of the indicators.

Sellers vanishing it seems.

Back from a bit of travelling and see my CEO have gone crazy!!

I got my CEOO’s at 0.4 cents just over 2 years ago – touched 14c today – makes it a 30+ bagger.

I must go away more often!

Good to see you still hanging in there with CEO Drilly – you must be sitting on a massive return as well - are you a buy and hold convert now?!?!:p

[drillfix]

Back from a bit of travelling and see my CEO have gone crazy!!

I got my CEOO’s at 0.4 cents just over 2 years ago – touched 14c today – makes it a 30+ bagger.

I must go away more often!

Good to see you still hanging in there with CEO Drilly – you must be sitting on a massive return as well - are you a buy and hold convert now?!?!:p

Hi Steve, and good ta see ya again.

Yes am still holding and this seems to be the best trade ever, and yep a 34 bagger there abouts...lol. My only sadness was not buying and holding more for the duration, yet a new belief system has been put in place that certainly aids in being more open to a variation of investment and trading methods.

I think I will ride the options out and convert just before expiry as its not a great deal of money to convert as its only 1c or something :P

Hope you are keeping well Stevo, and welcome back to ST. Look forward to seeing you around some more :)

[whatsup]

.17 + today up ,16.5% increase ,, .20 shouldnt be too far away.

[drillfix]

Yeah wu, another whipper of a day there.

I cant help feeling something else is up fundamentally because the stock is showing that its completely overbought and will eventually be itching for a taking a breather.

Caution required imo.

[whatsup]

Yeah wu, another whipper of a day there.

I cant help feeling something else is up fundamentally because the stock is showing that its completely overbought and will eventually be itching for a taking a breather.

Caution required imo. Drill, Im hanging on for high double figures, this is a regrade of a company/asset and coal outside Aust is the game now, the search is on and it wont be too long before the investment community figures that CEO/CEOO is in a very unique position, IMHO this company is a once in a life time opportunit.

We could have our first 100 bagger.

[drillfix]

I guess it could pan out that way there wu, and so far so good as its a over a 32 bagger now for me, but my point is that nothing can surely go Directly upward continually forever. Meaning, it must take a breather at some stage.

Believe me, I too sure do hope the stock turns out to be a 100 bagger, but at some time in the near distant future the stock must take a breather technically, IMO.

[steve fleming]

Drill, Im hanging on for high double figures, this is a regrade of a company/asset and coal outside Aust is the game now, the search is on and it wont be too long before the investment community figures that CEO/CEOO is in a very unique position, IMHO this company is a once in a life time opportunit.

We could have our first 100 bagger.

Yep i agree...the good thing about coal is it can be developed pretty quiclky so lots of news flow.

If CEO can prove up two multi hundred million tonne deposits ( Ovorhangay and SouthGobi ) plus what ever they do in Indonesia, then a 100 bagger is a possibilty.

Still lots of work to go, but almost halfway to a 100 bagger now, so it is definitely a possibility.

[whatsup]

Yep i agree...the good thing about coal is it can be developed pretty quiclky so lots of news flow.

If CEO can prove up two multi hundred million tonne deposits ( Ovorhangay and SouthGobi ) plus what ever they do in Indonesia, then a 100 bagger is a possibilty.

Still lots of work to go, but almost halfway to a 100 bagger now, so it is definitely a possibility.

Dont overlook ROB either who ( as you know ) are undertaking a 2/3 cap raising with very juicy 2014 .01 options attached , in yesterdays ann Macquarie or their depository outfit now have a 17 % holding in ROB -- they are not there for nothing and Patoes are underwriting the cap raise-- the same outfit the reorganised CEO. huum !!

[whatsup]

Yep i agree...the good thing about coal is it can be developed pretty quiclky so lots of news flow.

If CEO can prove up two multi hundred million tonne deposits ( Ovorhangay and SouthGobi ) plus what ever they do in Indonesia, then a 100 bagger is a possibilty.

Still lots of work to go, but almost halfway to a 100 bagger now, so it is definitely a possibility.


T H now with a big ann tomorrow, upgrade of coal resource,new drilling targets, Cap raising, share placement , SPP all could be considered IMHO, watch ASX for great news, all investors should be in on this share.

[drillfix]

Will be interesting to see what news it is, thats for sure.

Say wu, are you adding to your position at these current levels? Or are you all in from a low entry?

Wondering if it will touch 20c on the news, but then fall back down again as news may be priced in already perhaps? Not sure but always cautious.

[whatsup]

Will be interesting to see what news it is, thats for sure.

Say wu, are you adding to your position at these current levels? Or are you all in from a low entry?

Wondering if it will touch 20c on the news, but then fall back down again as news may be priced in already perhaps? Not sure but always cautious.

Dr, Ive thought the same that the news could be already priced in , but if there is a cap ra then the co would IMHO want the S P to be well clear of .20 in order for it to sustain that S P once the cap raising is well out of the way.

[drillfix]

News out now and it is looking quite good so far.

Seems there are other parties interested in these guys for some partnership. Hmm, wonder how price will go today.


Good stuff there wu, looks like you and other CEO holders will be in for another ride :)

But then again, appears to be many sellers building up here.

[drillfix]

My My, looks like its sell the news wu.

Hope some folks took profits along the way. Lots of sellers stacked atm, and on such good news it seems. Or I am not reading the ann's correctly?

[yabster]

not a holder- but looks like the market doesn't like the ann- maybe a opp to top up or get in?

[yabster]

from what i gather some holes duds and the coal seem not as big as anticapted compared to previous drills?

[drillfix]

Had an order in at 10.5c and but looks like 11c support atm.

With regards to the Ann's, whats there not to like about them? Its all positive and to me, it seems that somebody whom is a main previous accumulator or folks are selling the news as previously mentioned.

Meaning, they are probably thinking in this climate, sell now whilst there is euphoria and take whatever profits you can, rather than wait for market change in sentiment including global markets. But who knows as its anybodies guess really.

[drillfix]

Wow, this is turning into relentless selling.

Pulled my 10.5c buy order to 9.5 and that nearly got hit. Currently down 42.35% as of this post.

[drillfix]

Nahh, forget this, too easy to get your hand cut off type stuff going on. And if a stock aint going up, then its usually going down. ( or consolidating).

Think I will have a half day today, plenty of other chores to do around, both digitally and real world chores, that can be more productive.

[whatsup]

News out now and it is looking quite good so far.

Seems there are other parties interested in these guys for some partnership. Hmm, wonder how price will go today.


Good stuff there wu, looks like you and other CEO holders will be in for another ride :)

But then again, appears to be many sellers building up here.

Holy H2ll, Just arrived at my computer at 11.00 pm and read the ann then saw the carnage, some good reading but some very dissappointing and hence the massive sell off, could stabalize but will take long time now as D Ters/punters are very scared. DONT CATCH A FALLING KNIFE, some will but thats for the brave.

[drillfix]

Geebers wu, you must have got that sinking gut feeling when viewing the screen. Bit of a blood bath today for the stock.

No knife catching here, orders pulled 3 times now and there is too much volatility at present with CEO.

[soulman]

News out now and it is looking quite good so far.

Seems there are other parties interested in these guys for some partnership. Hmm, wonder how price will go today.


Good stuff there wu, looks like you and other CEO holders will be in for another ride :)

But then again, appears to be many sellers building up here.

The news was not good Drill. And the hammerring, maybe justified. I see this in single digit next week. Maybe a good opportunity for a bounce trade.

[drillfix]

Not exactly sure what part of the news was not good soulman.

Any particular part, or was it just the results in general that the market didnt like?

[steve fleming]

Not exactly sure what part of the news was not good soulman.

Any particular part, or was it just the results in general that the market didnt like?

Hi df, it was good news from a fundamental perspective, not good news from a trader's perspective, who had hyped CEO to such an extent that any news realistically would be sold down.

There was plenty in the announcement which highlights the strength of the story. But it is a story that will take time. You have 60 metre near surface coal seams with a structure potentially extending 6km – just from the DD drilling. Unfortunately, you cannot prove a billion tonne resource, or even to continue to consistently hit large seams with your very first 6 drills, on virgin land. Which it seems the market was demanding.

This was preliminary due diligence drilling....by far and away the more important news will be the coal assays and quality tests due in the next couple of weeks.

Good luck to the short-termers and hope it turns out better with their next hot stock.

As for me I have made a significant return through buying in CEO and CEOO two years ago....am pretty confident that I will have a very significant return if I hold for another 2 years.

[drillfix]

Good post there Steve, and yep, I agree.

Sometimes I can get confused with many stocks due to the dual or split personality of a stock due to both Traders and Longer Term investors.

As you know I have also held this for what seems now to be ages. Will hold on as well and may even add another small position to the table once things settle down.

There seems to be many stocks that do this huge up spike and then really need to flatten out.

Cheers again~!

[soulman]

Drill, the significant result from BTE1 and 2 was release a few weeks ago and rockets the SP.

However, this announcement stated that BTE3, 4 and 6 have minimal to no intersection with BTE 5 having some success.

I would agree with SF regarding punters putting the SP high for high expectation and this expectation was not met.

I will be putting a low ball order in at 7.5 cents just in case it dive again on Monday. Good luck.

[drillfix]

Cheers soulman, explains alot now.

Sometimes I read ann's quickly and have not taken in the previous ann fully so hence what appears to be absent mindedness to some degree.

[soulman]

Cheers soulman, explains alot now.

Sometimes I read ann's quickly and have not taken in the previous ann fully so hence what appears to be absent mindedness to some degree.

Looks like this is back in play. It didn't get any close to the 7.5 cents. Too bad you didn't go all-in at 9.5 to 10 Drill.

[drillfix]

Ahh well soulman, thats just the way it goes. Not really into chasing stocks and these markets are very testing because just when you think it may rocket upwards, its P&D and then you gotta take medicine.

This upcoming couple of weeks will be very testing for many stocks I reckon with regards to US debt, money printing. May present another opportunity to get your 7.5 again, but then who knows hey.

[soulman]

A lot of P & D happenning at the mo. I see HUN as a better play right now than CEO. CEO more for punters/players than investing.

[drillfix]

Agreed. time to post in the ASX thread now as global markets getting smashed about badly tonight it seems.

No doubt lots of volatility is on the way (again).

[drillfix]

Anyone with thoughts on CEO with upcoming name change and Priority offer @ 50c each and up to 4000 shares per holder issue?

Have sold out my options and fpo's a while ago there knowing of this consolidation and got the offer but had been thinkng about waiting to see what happens on market as I am so used to watching stocks rally a little and then fall back below the issue price.

Thoughts anyone?

[steve fleming]

Anyone with thoughts on CEO with upcoming name change and Priority offer @ 50c each and up to 4000 shares per holder issue?

Have sold out my options and fpo's a while ago there knowing of this consolidation and got the offer but had been thinkng about waiting to see what happens on market as I am so used to watching stocks rally a little and then fall back below the issue price.

Thoughts anyone?

Hi drilly,

I too sold my CEOOs but kept a few CEO and now will be taking up the 50c (2.5c) issue...its been a long time since CEO were 2.5c.

I think CEO has so much news flow coming up over the next few months, culminating in a JORC in 2nd quarter of 2012, now that the cap raising is out of the way it can focus on continue to drill out its Ovorhangay coking coal resource.

Hopefully a 2.5c entry will represent another opportunity to ride a multibag on CEO!!

[drillfix]

Good stuff Steve,

So how do you think they will go once the consolidation is done.

My experience from previous consolidations and also watching them is that more often than not, they tend to drift down a bit offering some a discount, yet this does not happen to all stocks, however I have seen it happen numerous times.

Everything seems to be quite stable with these guys though and I feel I may continue with them with at least a small position which is always great to be a part of the ride which as you know, has already been quite an exciting and profitable one so far.

[drillfix]

Whatsup, it shows that you started this thread so can you please change the name and code to DRG (Draig Resources Ltd) and perhaps even leave the ex-CEO statement there too so folks know what and whom this was.


Was hoping they maybe not use the Resources name and use a Energy or something else with a bit more Oommffff, as there are already stacks and stacks of Resouorce Companies and most which are exploration.

Anyway, a thread name change would be cool for tomorrow as that is when the stock code officially changes tomorrow.


The company also raised 3 million bucks before costs from shareholders (I missed that because they were too quick)And together with the other 14 million they raised they have a total of 17 Million bucks before costs in their kitty.


The consolidation is also done and the company now states it has:

25,338,799 Ordinary Shares on issue
6,221,157 Listed Options expiring April 30th, 2012 @ 20c
2, 295,000 Unlisted Options expiring Sept 15th, 2013 @ 20c


So there you have it folks that follow CEO or as of tomorrow DRG.

As always, finger on the pulse :)

Cheers~!

[drillfix]

Calling Whatsup, are you out there?

Mate, as you started this thread, can you please change the name to DRG - DRAIG RESOURCES LTD (old CEO)

As the name change is in effect and the trading has come online as of today.

Consolidation was at 50c and then opened today at 47c and high of 50c and currently 48c, though who knows where it will close.

Worth keeping an eye on though as they have 8 Mongolian coal licenses and expect JORC for Q1 2012, plus have a stack of cash or 17 Million in their back burner for further exploration / acquisition etc etc.


ann link:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01257628

[drillfix]

Hi Folks,

Dont know how many people here have been following this story, but 1st can we do this:

Admin/Mod/Shasta or whatsup, can you please change the name to: DRG - DRAIG RESOURCES LTD (old CEO)


Draig had done a consolidation or change over to have less shares, come on trading at 50c
Went down to a low of 43c and now back up to over 50c, and currently sitting at 55.5c with a high of 57.5c

A lot of action is being missed by not following this story and rather start a new thread, it would be good to keep the old info here and continue with it.

For those who wish to have an update, check out the BRR interview just issued today: http://brr.com.au/event/93050

[drillfix]

Thank you Shasta for thread title rename~!

I dont hold this stock as yet, but do follow it.

[shasta]

Thank you Shasta for thread title rename~!

I dont hold this stock as yet, but do follow it.

No worries, i did a search on CEO & the thread comes up whether you use DRG or CEO

[whatsup]

Drill, Whatsup here again, sorry but I couldnt get back onto the forum as I forgot my password and couldnt reregester as the system would not accept me-- been absent for 5/6 months.
But now back to the present DRG ex ceo is getting its house in order a long and conveluted road but imho will be well worth it once this current round of drilling has been completed, DRG is cashed up with a sound team of experts who know the coal industry- wholsale and retail.
Another appointment today and with the expiry of the oppies next month DRG management will be bending over backwards to get some good results out , with the resource tax in Aussie and the Greens anticoal campaign ready to roll Mongolia is the place to be for the future and Indo still to come. Watch this space.!!

[drillfix]

Hi WU,

Good to see you back mate and had wondered what was up with whatsup :P

This sector seems to have gone off the boil for the time being it seems but I have DRG stuck on my watch list as I will be taking a small position again some time so hopefully I can time it right.

Management as you say seem to be in the know and is part of the winning formula so looking forward to hearing news~!