EOC Endocoal

[mark100]

New Coal float focused mainly in QLD. 4x oversubscribed apparently. 60c issue price I took a punt when they listed at 76c. Hoping it moves up to $1 in the next few weeks as the stags sell out

[Huang Chung]

I'm watching Mark, but haven't bought yet. Might wait to see what the Henry Review has to say on the weekend.

[Huang Chung]

OK, in at 70.5c.

[Huang Chung]

OK...not a great move...now 68c bid.

[mark100]

Pretty weak so far. I picked up a few more at 71c. I'm prepared to give this one a few weeks to see where it settles.

HC, I'm not too worried about the short term impact by Mr Henry on stocks like EOC. I think to start with they will focus on taxing the high profit/margin miners like BHP/RIO. In any case I have my doubts whether they could ever get the states to agree. But you can bet the Henry review will be full of crazy lefty ideas :(

[Huang Chung]

I did not buy any more stock, so I'll just ride what I've got for a while.

A disappointing day for EOC.....

[mark100]

Yeah didn't expect to see it go under 70. For all the hype it was a bit of a dud!

[Huang Chung]

Doubled up this morning at 65c....ave entry now around 68c.

I'm happy with that.

[Crypto Crude]

how can you name a company endo when it just stated...
hopefully this is not the 'end o'...
lol
:cool:
.^sc

[Huang Chung]

how can you name a company endo when it just stated...
hopefully this is not the 'end o'...
lol
:cool:
.^sc

Looking at its share price performance since listing, you'd be forgiven for thinking so Shrewdy.

Another bad day for EOC.

[Huang Chung]

Just another stock caught up in the general exodus from mining stocks. Severe downtrend. Who knows where it will stop.

Still holding all I bought <gulp>.

[shasta]

Just another stock caught up in the general exodus from mining stocks. Severe downtrend. Who knows where it will stop.

Still holding all I bought <gulp>.

You still onboard HC (I suspect not)

I see EOC has released a presentation today, plus an update on Orion Downs

Presentation
http://stocknessmonster.com/news-item?S=EOC&E=ASX&N=625096

Update
http://stocknessmonster.com/news-item?S=EOC&E=ASX&N=625099

[Huang Chung]

You still onboard HC (I suspect not)

I see EOC has released a presentation today, plus an update on Orion Downs

Presentation
http://stocknessmonster.com/news-item?S=EOC&E=ASX&N=625096

Update
http://stocknessmonster.com/news-item?S=EOC&E=ASX&N=625099

Long gone Shas.

My only Oz coal play now is BWD, but my 'big kahuna' coal play is ZYL.

[mark100]

Maybe time to put this dog back on the watchlist? Partnering with CLR on a coking coal prospective tenement adjacent to CLR's main coking coal project. If a little bit of CLR magic rubbed off on EOC it could fly!

[drillfix]

I think I would prefer to jump in after it breaks past 50c rather than now as it seems to have been in a trading range between 35c and 47c for the past 6 months or so, maybe up to 50c 8 months ago.

So should it step up to the new level you would have a whole new breed of trader jumping on board rather than your routine Range Trading.

As always time will tell.

[shasta]

EOC - BANKABLE FEASIBILITY STUDY TEAM APPOINTED

http://stocknessmonster.com/news-item?S=EOC&E=ASX&N=647654

HIGHLIGHTS
 Endocoal proceeding with Bankable Feasibility Study at Meteor Downs South;
 Team of high quality consultants with complementary skills appointed;
 Focus on proving-up a 1.5Mtpa open cut thermal coal mine;
 BFS is targeted for completion in December 2011;
 Objective of first production from Meteor Downs South in 2H 2013.

EOC is my favoured exposure to coal, as they have both thermal & coking coal projects (+ PCI coal), & these have had plenty of positive news articles of late, most recently by Goldman Sachs.

EOC closed @ 34c

[soulman]

Massive upgrade on their Rockwood project.

Prices still below their latest cap raising of 39 cents. I bought in today.

Also, forgot to say, and the beauty of the stock market, I got partially filled 9161 EOC shares on Fri at 30.5 cents. I sold those for 39 and re-bought a few more at 37.5.

[soulman]

Finally a bit of uptick today on big volume. Maybe the AGM presentation got them a move on.

With EOC tenement (with JORC status) so close to many big giant coal miner, surely EOC will be subject to an offer down the line.

You got into EOC Mark? I also see ICX getting a move on lately.

[mark100]

Been watching EOC soulman but haven't been tempted with the dodgy market. Like most coal stocks they are claiming today to have received takeover interest with one proposal being worth 60c. I bought a few at 45c for a trade

[soulman]

Hi Mark, can you please explain your view of this dodgy market. I like to see your point of view. I reckon the market is also dodgy (the market has also been dodgy for yonks). The Santa Claus rally might be coming but at anytime, things could go pear shape.

Celebration are in order for me re: EOC but unfortunately I did sold quite a chunk for 35.5 last week (about 1/3) because of the dodgy market and the fact EOC literally did not move in the 6th consecutive rises in our stockmarket. Also the lack of buyer support.

NHC is one company that would be interested in EOC and CLR.

[mark100]

I am about 40% invested at present soulman, but when I say 'invested' a lot of that gets turned over pretty quick with trading. Nothing is safe from being sold if things get ugly.

I am slightly optimistic re the market. The EU will probably fall apart but the market has had quite a while to get used to the idea now. Everyone has been so bearish the past few months which makes me think maybe we are closer to the bottom than everyone thinks. Interest rates coming done now in Australia has to be of some benefit, not just to the economy but also the price people are prepared to pay for shares.

I am wary of pure resource stocks in case China slows badly. Thermal coal I think will probably hold up better than most if that happens.

The past few months I have also tried to play it safe by scalping the last few percent after a takeover is announced. SOE/SOEOA will be a handy 10-12% when it completes in a few weeks and ROK offered an opportunity for a trade after the bid was announced as well. RZR is also shaping up that way (recommended bid worth 10% plus over the current share price). I got back into MSF after its bid was announced, mainly for the chance of a higher bid.

For the 5 months since 1 July I have made a touch over 10% from my portfolio of shares and cash which is only half of where I was last year, but I suppose I should be thankful its still a profit! On the topic of NHC, I was lucky to hold when the initial takoever news came out but have now sold at $6 ex dividend. Sometimes these bids don't eventuate.

[soulman]

The Chinese crash is what I am worried about but am prepared for it.

The case that China itself is a bubble and the slowdown would not just be in manufacturing activities but in property crash, bad debt and the whole she-bang.

Once the industrial world realised that 3 LCD TV per household is enough, then the supply would outweigh the demand. That goes for everything as well. Simple economics 101.

As with EOC, luckily got 45 cents for them as I have a sell order on EOC at 40.5 cents for quite a while now. Still hold some more for potential upside.

[shasta]

EOC - Trading Halt (Capital raising)

http://stocknessmonster.com/news-item?S=EOC&E=ASX&N=664050

Those interested in thermal & coking coal companies, should keep an eye on the capital raising terms, ie the magnitude of the discount to market value & if any attached options etc.

With 2012 global economic outlook still very uncertain, might be good timing to raise cash now!

Disc: Nil held, picked in ASX comp

[soulman]

Last capital raising at 39 cents. This one could be either way, probably with a 4 in front of them. Maybe NHC or Xstrata would want a piece of this raising.

When I saw TH, I thought....oh dear...takeover offer as I have no more stake in EOC.

[shasta]

Last capital raising at 39 cents. This one could be either way, probably with a 4 in front of them. Maybe NHC or Xstrata would want a piece of this raising.

When I saw TH, I thought....oh dear...takeover offer as I have no more stake in EOC.

Thats exactly what i thought, take over on the cheap, but not for now...

[mark100]

Not holding either at present and thought I had missed out on the takeover. A bit dodgy I reckon, pump up the price with disclosure of takeover interest and then do a capital raising. But I suppose you do what you have to in this market and at least it's less dilution than raising cash at 25 or 30c

[soulman]

Capital raising at 40 cents. None to retail shareholders. Still stagnant and probably T/O talk has cooled.

[soulman]

T/O offer at 38 cents. Was considering them when they were 20 but backed out.

[kiwitrev]

Hi SMan
Similar tale of woe for me, wanted in but better to keep the peace at home when outvoted.

[soulman]

Hi SMan
Similar tale of woe for me, wanted in but better to keep the peace at home when outvoted.

Some demand in MTE today as well KT. Seems you want to re-invest your dough back into the coal sector after CWK T/O.

[kiwitrev]

Hi SM
You'r on to it. Coal sector badly beaten down as we all know so ideal entry point for when the cycle turns. Have MTE on w'list but the one I really like is SMR, large coking resources and access to port confirmed. Hope to catch the missus on a good day.