Adavale Resources Limited ("ADD") - Cheap Coal??

[steve fleming]

This is an interesting one (to me at least!) that I have been keeping my eye on recently and that had a big increase in the sp today (35%).

However even after a 35% increase today, ADD has a Market cap of only about $5 mil (183m shares @ 2.7c)

Cash at 30 June 2010 was $2.5m

So EV = $2.5m

The thing is, coal mining is planned to commence on their 9Mt JORC thermal coal resource located in Sumatra, Indonesia, later this year.
Draft mine plan and financial model have been completed (but no details released to ASX).

ADD states that it “intends to establish itself as a reliable and dependable Indonesian coal producer, leveraging its Australian mining expertise and best practices against the low operating costs of coal mining in Indonesia”.

ADD believe “that Indonesia’s new mining act has flagged an opportunity for explorers to get involved in what is a strategically located country with significant opportunities to meet world and particularly Asian demand for minerals and energy.”

However, the fact that they are planning to be mining without any ASX disclosure of a mining license, a BFS or a mining contractor does perhaps ring some alarm bells.

But even allowing for a couple of directors who are on the little less than reputable side IMO (Roger Steinpreis and Richard Poole), an EV of just $2.5m for a company that has advised the market on a number of times that they will be producing medium to high grade thermal coal by the end of the year, seems a little peculiar.

The chat on h/c is that the sp is being held down for a capital raising, which does have some merit, presumably a rights issue to enable the major holders (which include IB Daiwa) to average down their holdings. Which would suggest that post capital raising, once all the cheap shares are issued, the sp will re-rate....Does sound as though there are a bunch of unhappy punters on h/c who have ridden ADD a long way down.

Don’t know if there is more to the story, but it does look like an interesting micro-cap to follow...

[STRAT]

Hi Steve. Is Roger Steinpreis the fella with a history of backing companys into shells? In any case you have my attention. Will have a look. Thanks for the heads up.

[trackers]

Bah Indonesia /frown.. I'll go back to looking at SMD and rubbing my hands in glee at my recent EKMO buyin at 5.6c

[steve fleming]

The chat on h/c is that the sp is being held down for a capital raising, which does have some merit, presumably a rights issue to enable the major holders (which include IB Daiwa) to average down their holdings. Which would suggest that post capital raising, once all the cheap shares are issued, the sp will re-rate....

The inevitable cap-raise / rights issue was announced today, (not surprisingly) underwritten by related party Arthur Phillip (associated with Directors Poole and Suriano) at 2c plus free options.

So predictable.

Just have to wait for the insiders to pick up their cheap shares then wait for the inevitable re-rate.


And yes Strat, Roger that.

[trackers]

Anyone know what they mean by "However, given the acquisition of the Tapan project has not yet completed" in the latest announcement?

[steve fleming]

Anyone know what they mean by "However, given the acquisition of the Tapan project has not yet completed" in the latest announcement?

Trackers - refer the following post from Sharpauntie on h/c (though i don't know how genuine it is)...all part of the game i'd imagine

"I love the way this Rights Issue comes out before any other information about Tapan, such as, cash flow reports, profit estimates, buyers of the coal etc etc. Believe you me, all this information is sitting in the underwriters IN Tray. He knows how good this deal is but he's played it down to the bottom of the ocean to suit his own greed, to scare us into believing its not finalised and far from it and too get more for himself, he will tell you otherwise though, but my spy knows everything - the eYe in the sky is watching us all.....

The Underwriter is not too dissimilar to Mr Augustus Gloop from Charlie & the Chocolate Factory - GREEDY.

I might also point out that the Tapan Deal is done and all secured, they could have started mining 12 weeks ago, they are however looking at surrounding tenements that adjoin Tapan."

[STRAT]

The Underwriter is not too dissimilar to Mr Augustus Gloop from Charlie & the Chocolate Factory - GREEDY.
[/I]
Logement on the 18th
Ex date on the 21st.

W@nkers

[STRAT]

Wow a fair lump went through today dropping the price a bit.

The sell column has always been all but empty. Paper shuffling or something more? I wonder.

[steve fleming]

Wow a fair lump went through today dropping the price a bit.

The sell column has always been all but empty. Paper shuffling or something more? I wonder.

The number of shares traded today (21,333,334) exactly equals the shares held by ADD's largest shareholder, Japanese investment house IB Daiwa.

Given the number of trades involved, and different price levels, looks more than just paper shuffling.

Somethings up - guess have to wait to see the SSH notice.

[STRAT]

Hi Steve. It took me an age to gather a wee parcel of these at 2.1c. I thought yesterday perhaps Id blown my cash but is spite of the large transfer yesterday at 2c the sell depth has remained illiquid and the sp has bounced back today on a few shares. Im now quite intrigued to see whats goin on.

[gazprom1]

I guess we will have to wait until the capital raising is out of the way and wait for the news to start flowing in. End of November onwards promises to be interesting times....tempted to buy a few more!!

Gazprom

[percy]

Thanks Steve,I brought a few this afternoon at 2.2cents.Look forward to the options listing as I see they are at 4cents on 31/7/14,so are long dated.

[steve fleming]

Hmmm....all of a sudden there are 1.3 mil buyers @0.022 and 1.8 mil buyers @0.020. Don't know where they came from.

Interesting.

[STRAT]

Hmmm....all of a sudden there are 1.3 mil buyers @0.022 and 1.8 mil buyers @0.020. Don't know where they came from.

Interesting.
Perhaps its a few punters from here Steve,.

You have been on fire this year :D

[Entrep]

Picked up a parcel of these at 2.1c

[gazprom1]

SF,

Since cap raising the price has gone from 2.0 cents to 2.3 cents - could we see a P&D? Cap raising was a disaster in terms of participation from S/H's but good for the related party insider who had underwritten the issue. They provide very little information to the market which is of a concern. Would be great to see them get some news out into the market.

Options are not listed which isa shame as would have been good to laod up on them.

Hoping ADD is going to be the stellar year end performer.

Gaz

Discl: Hold

[STRAT]

Hi Gaz.
I suspect the cap raising was an intended disaster by the underwriter. Share Holders werent exactly given much time to get sorted.

[drillfix]

I agree fella's!

Had a trade in this not long ago only to get out by the skin of my teeth, but had thought about holding long to see how things play out.

I dont even know what this company does, or what they are going to do.

With respects to cap raising, its got a signature of greed about it where the guy with the big cigar is only waiting for the stage to be set, as "they (whoever they are)" obviously will know all the in's and out's of whatever is going to play out.

I guess its worth a punt jut to play blind man's bluff and go with the river current, but like most potential shareholders, its always pays to do some research into what it is we could be invested in, and without know what cards the company is playing , this makes matters a little "awkward" say?

[gazprom1]

Hey Strat/DF,

It was a very quick cap raising and they did make it clear that you were NOT permitted to subscribe for any more than you were entitled...the shortfall was theirs!!!! I managed to get a good holding at 2.2 and then participated in the cap raising. It has a strange feeling surrounding the whole company...almost like the calm before a storm!!!! Now they have loaded up on shares and oppies, you would think they should start to tell us how it is all going to play out. Exciting...

DF - they are into thermal coal in Indonesia...want to be low cost producer and they have stated that they want to be up and running by Xmas...but that seems unrelastic to me unless it is already to go....!!!

Good to have you back on the forum. The place is better for your input and views.

Cheers
Gaz

[drillfix]

Hey Strat/DF,

It was a very quick cap raising and they did make it clear that you were NOT permitted to subscribe for any more than you were entitled...the shortfall was theirs!!!! I managed to get a good holding at 2.2 and then participated in the cap raising. It has a strange feeling surrounding the whole company...almost like the calm before a storm!!!! Now they have loaded up on shares and oppies, you would think they should start to tell us how it is all going to play out. Exciting...

DF - they are into thermal coal in Indonesia...want to be low cost producer and they have stated that they want to be up and running by Xmas...but that seems unrelastic to me unless it is already to go....!!!

Good to have you back on the forum. The place is better for your input and views.

Cheers
Gaz


Hi Gaz, its always great be around and posting here as I dont post on HC as many know.

With this Co, exciting maybe, but when one has to wait and see what is behind the curtain, or the box, kinda gives me the Uran Jitters.

Are any of the people in the company related to, or by chance dating Kate Hobbs that cow of a woman whom is CEO of Uran? As this is the sort of tactics she would ploy or stage.

Maybe its just me Gaz, has been a while since holding a few stocks so when untold stories unfold I get a little weary which is probably understandable.

I am also holding an indo, Coal type play with only few issued shares called Coal FE code: CES

Apparently, prices will rise due to the Rain nature of the weather making it awkward to explore, extract and deliver the coal, but CES are meant to already have done their maiden shipment but that also got delayed due to wet weather. Ahh well, as long as the price goes up of the resource then surely that still is good.

Hopefully some news on all fronts hey, but still gotta watch these markets as they seem somewhat unpredictable at times.

[steve fleming]

SF,

Since cap raising the price has gone from 2.0 cents to 2.3 cents - could we see a P&D? Cap raising was a disaster in terms of participation from S/H's but good for the related party insider who had underwritten the issue. They provide very little information to the market which is of a concern. Would be great to see them get some news out into the market.

Options are not listed which isa shame as would have been good to laod up on them.

Hoping ADD is going to be the stellar year end performer.

Gaz

Discl: Hold

Hi Gaz,

Yep, i took up my entitlement in full - it was a no-brainer surely??

Pg 18 of the Prospectus says that an application will be made for quotation of the options....but Pg 17 of the Prospectus says that an application will NOT be made???

I would have thought they will be listed, will be dissapointing if they are not ....hmmm....will have to check with the co.

[drillfix]

So is there anyway as yet to judge what this actual company will do, where it will do it, and of course, when it will do whatever it is that its going to do? :P

I know that sounds a bit confusing, but in brief, when will the mystery veil be unveiled? No doubt, once the SP has bolted out the gates.

[gazprom1]

Hi Gaz,

Yep, i took up my entitlement in full - it was a no-brainer surely??

Pg 18 of the Prospectus says that an application will be made for quotation of the options....but Pg 17 of the Prospectus says that an application will NOT be made???

I would have thought they will be listed, will be dissapointing if they are not ....hmmm....will have to check with the co.

SF,

Looks like all the insiders have all filled their boots....extra 9m shares issued over and above the shortfall allocation. Nice that they did not let us subscribe for any of the shortfall. Shares have moved up 25% over the past week...beautiful. I loaded up as much as I could stomach pre and post rights so feeling comfortable with a nice buffer there. I did the same with BUR and it has been a success except they allowed us to take up the shortfall...up 27% in a couple of weeks.

Need some news of the development/ contracts to continue to see it move up.

Cheers
Gaz

[soulman]

Weird ain't it that the options aren't listed. Got me stumped. I thought it was a shoe in but didn't read the fine line.

Anyway, it has been a success so far with the price action.

[STRAT]

ADD climbing quite well today on back of lack of sellers. I like that. :D Dunno if its real but theres a 1 mill buy at 2.6c

[percy]

The Indonesian update is positive.

[STRAT]

The Indonesian update is positive.Hi Percy
I guess it was. What I find interesting though is that there are so few for sale that price action will be in complete contrast to the samples on the Breakout thread where volume preceeds and there fore gives warning of price action. I guess theres always more than one way to skin a cat eh?

I reckon there is a much greater chance of a break out/up of this kind to also fall flat without warning.

[percy]

Hi Percy
I guess it was. What I find interesting though is that there are so few for sale that price action will be in complete contrast to the samples on the Breakout thread where volume preceeds and there fore gives warning of price action. I guess theres always more than one way to skin a cat eh?

I reckon there is a much better chance of a break out/up of this knd to also fall flat without warning.

Yes,I have thought it will do one of three things: 1/ go up 2 /go down, or 3/ stay the same. But then it my do all 3 !!! However we are ready for whatever!!!!!

[gazprom1]

ADD climbing quite well today on back of lack of sellers. I like that. :D Dunno if its real but theres a 1 mill buy at 2.6c

Strat,

Agree - Who knows if it is "real" or not but the fact that you could unload a million at 2.6 is ok by me. Close at 2.8 (over half a million at 2.8 or more) is excellent. Would like to see greater volumes. Good to see them marketing themselves in the presentation...they need to do more regular updates - will email them!

I wonder whether their Tapan prospect is more advanced than they are letting on???

Gaz

PS Mkt cap $5.6million - cash at bank $4.1 million. EV valued at next to nothing.

[steve fleming]

Strat,

Agree - Who knows if it is "real" or not but the fact that you could unload a million at 2.6 is ok by me. Close at 2.8 (over half a million at 2.8 or more) is excellent. Would like to see greater volumes. Good to see them marketing themselves in the presentation...they need to do more regular updates - will email them!

I wonder whether their Tapan prospect is more advanced than they are letting on???

Gaz

PS Mkt cap $5.6million - cash at bank $4.1 million. EV valued at next to nothing.

I didn’t realise the extent of the ground work that these guys have done in Indonesia.

Office in Jakarta set up, 6 staff, 3 Geo’s plus technical manager.
A very structured business plan.
These guys appear very serious.


4 MOUs plus one signed conditional agreement.
Yes, potential deposits are on the small size, but are high grade; and ADD have stated they wish to use the cash flows and experience in mining the small projects to secure larger opportunities.
Sounds like a reasonable approach to me.

In relation to Tapan, 2 pits have already been designed to commence mining assuming completion. They have presented the pit designs (Central and Western Pit)
Mining potentially is not too far away.

Gaz - Market Cap now is about $9mil after issue of shares of which $4m = cash.

So an EV = $5million, still unjustifiably low.


I am thinking there will be a large re-rating once Tapan completes , and Management prove they can actually close a deal.

Up 40% from the rights issue price of 2c already, in just over a week. Plenty more to come once Management can demonstrate their credibility and get the story out.

[gazprom1]

SF,

I picked the numbers of DB's website and they were not updated....next news should be the contract in Tapan going unconditional and mining commencing there. When are the options going to be in the money???=)=)

Gaz

[drillfix]

SF,
When are the options going to be in the money???=)=)

Gaz


Gaz, I never knew there were options with this company, what are the code for them?

And what are the strike price and expiry?

[STRAT]

ADDAU
options expiring 31-jul-2014 deferred

4c I think but you would need to confirm than Drilly

[drillfix]

Hi Strat,

I type in ADDAU and it does not show anything except: No entries matched your specified code

Are they actually listed as yet, or still to list?

[STRAT]

Not sure actually.

Have a look here

http://markets.smh.com.au/apps/qt/quote.ac?code=ADDAU

[drillfix]

The reason why they are deferred and have that code Strat, is because they are not trading yet, they exist but get classified as deferred until they start trading.

Had they been trading and then went deferred, they would get an alternate code.

Currently they will be sitting on the sidelines till the green light comes on, which may also mean a code change one would think?

[STRAT]

The reason why they are deferred and have that code Strat, is because they are not trading yet, they exist but get classified as deferred until they start trading.

Had they been trading and then went deferred, they would get an alternate code.

Currently they will be sitting on the sidelines till the green light comes on, which may also mean a code change one would think?Right you are Drilly.
I think they were handed out at the last cap raising of which I wasnt included lol.

[gazprom1]

Bit of a breakout the past couple of days...moved from 2.6 to 3.2 cents. Must be some more news due anyday about finalisation of contracts and further development of the pits/port - maybe first coal??. It has been an excellent investment to date - up 60% in a couple of months. Amazing to think that options are exercisable at 4 cents and don't expire until 2013 or 2014. Wish they were tradeable!!!!

Gazprom

[percy]

Bit of a breakout the past couple of days...moved from 2.6 to 3.2 cents. Must be some more news due anyday about finalisation of contracts and further development of the pits/port - maybe first coal??. It has been an excellent investment to date - up 60% in a couple of months. Amazing to think that options are exercisable at 4 cents and don't expire until 2013 or 2014. Wish they were tradeable!!!!

Gazprom
Good volume today. Another tractor on the way?

[gazprom1]

Good volume today. Another tractor on the way?

Hey Percy,

Up again today....can't count my chickens until they hatched but have half a tractor in profits on the table...which could evaporate anytime...=)=) When does one exercise the 4 cent options....at 4 cents?....at 5 cents....if the SP gets there? May exercise them if the SP gets to around 5 cents....25% return on capital for the conversion. Could sell some heads before conversion if wanted to lock in some profits. Would be a nice dilemma. Do you own any Percy?

Gazprom

[percy]

Hey Percy,

Up again today....can't count my chickens until they hatched but have half a tractor in profits on the table...which could evaporate anytime...=)=) When does one exercise the 4 cent options....at 4 cents?....at 5 cents....if the SP gets there? May exercise them if the SP gets to around 5 cents....25% return on capital for the conversion. Could sell some heads before conversion if wanted to lock in some profits. Would be a nice dilemma. Do you own any Percy?

Gazprom
No, I brought heads ADD at 2.2cents on 4th Nov.Enjoying the ride though.

[gazprom1]

No, I brought heads ADD at 2.2cents on 4th Nov.Enjoying the ride though.

Great purchase Percy...3.4 cents close today so up over 54%. I bought most of my heads at 2.2 also with a few at 2.1. I do believe I was the only person to buy at 1.5 cents. Problem was it was something like 5000 shares so the brokerage probably put them up to 3 cents=)=)

SF - what is your view on the options in terms of timing a conversion?

Gazprom

[gazprom1]

Director has paid just under 3 cents the past few days to buy 2.3 million shares....hope he is buying with more knowledge thatn we have. While it is modest it is still A$65k that he has had to folk out and shows some faith in what they are doing.

GAzprom

[percy]

Director has paid just under 3 cents the past few days to buy 2.3 million shares....hope he is buying with more knowledge thatn we have. While it is modest it is still A$65k that he has had to folk out and shows some faith in what they are doing.

GAzprom
I can not see any Aussie listed mining company director spending more than $6.50 let alone A$65k without inside knowledge.Should the SP go for a run would you be best to get your capital out by selling heads, and let your profits run with the options.?

[shasta]

I can not see any Aussie listed mining company director spending more than $6.50 let alone A$65k without inside knowledge.Should the SP go for a run would you be best to get your capital out by selling heads, and let your profits run with the options.?

Insiders can only buy during certain periods, so safe to say no price sensitive announcements coming up!

Ive noticed hundreds of anns re corporate governance re companies share trading policies, so it looks like the ASX has issued some kind of policy update regarding this issue.

Can only be in shareholders interest, so i commend the ASX for doing this!

[gazprom1]

I can not see any Aussie listed mining company director spending more than $6.50 let alone A$65k without inside knowledge.Should the SP go for a run would you be best to get your capital out by selling heads, and let your profits run with the options.?

He must be pretty confident about what he knows and while there may be no price sensitive information due out shortly, I have no doubt that some will be forthcoming in the New Year. He has over 50 million shares now. If the SP went for a nice run, I would reduce my holding.

It has been a stellar week in the markets...I had 10.5% return on my portfolio for the week...ADD, OEL, BUR helped it alng nicely.

Merry Xmas

[gazprom1]

ADD near a 26 week high - price 75% up on rights issue of a couple of months ago. Unlisted options only 0.5 cent outside the money. Sell side is thinning by the day - buy/sell ratio 10 to 1. Stock makes me a little nervous but should have some positive news out in the weeks ahead so I am sticking with it....do not want to repeat my EKMO experience!!!

Gazprom

[STRAT]

Hi Gaz Ive been watching it daily and the depth is slowly taking shape. I bought on market at 2.1. Nice to see an almost 70% buffer before its even taken a trot round the track. Still annoyed about the 3 day cap raising. Did you get some?

Another one I owe Steve for. At this rate I may have to send him the deed to a distillery rather than a bottle.

[gazprom1]

Hi Gaz Ive been watching it daily and the depth is slowly taking shape. I bought on market at 2.1. Nice to see an almost 70% buffer before its even taken a trot round the track. Still annoyed about the 3 day cap raising. Did you get some?

Another one I owe Steve for. At this rate I may have to send him the deed to a distillery rather than a bottle.

Hey Strat,

Happy New Year. I did manage to pick up the options only by couiering the documents to auz. I screwed it up as I forgot when i was calculating the numbers (I didn't wait for the forms in the mail) that I had bought a handful at 1.5 cents after the cut off date so sent them a cheque for an extra 100 bucks or so. I re-read the prospectus and it indicated that since I was applying for too many that my WHOLE application could be rejected (not just the extras that I accidentially applied for). Got on the phone to the registry and explained what happened and they were excellent and Adavale sent me a cheque back or the extra shares...no harm done.

Gaz

[STRAT]

Well done. I blinked and missed it.

Oh and thanks. A happy annd prosperous New Year to you also.

[gazprom1]

Well done. I blinked and missed it.

Oh and thanks. A happy annd prosperous New Year to you also.

Strat....we have hit 4 cents - Unbelieveable!!! I wish those unlisted options were listed as would be making a killing. Now is the hard decision on whether or not to exercise them now so they can be sold IF the price of the heads go higher.

Gaz

[STRAT]

Strat....we have hit 4 cents - Unbelieveable!!! I wish those unlisted options were listed as would be making a killing. Now is the hard decision on whether or not to exercise them now so they can be sold IF the price of the heads go higher.

GazTheir sophistcated mates will probably give you a heads up on the timing of that Gaz

[gazprom1]

Steinepreis buying again...seems to suck up a lot of stock. I would guess that he is the majority of the buy side at the moment. ADD need to start producing some news with substance so we can get mining and get the SP moving.

It has been an excellent week to be in the markets.

Gazprom

[STRAT]

A lot of long time disgruntled share holders in this one but OBV seems to indicate someone is buying these nice and slow.

[STRAT]

Hey Gaz.
Took a while to get going but it seems Traders are on this today.
Unfortunately someone is also selling off fairly large chunks at 3.5.

[gazprom1]

A lot of long time disgruntled share holders in this one but OBV seems to indicate someone is buying these nice and slow.
Hey Strat,

News out of new JV with Indonesian individual and SP up strongly. Gives an opportunity for some holders to get out. Solid volume. I sold some at 3.5 cents because was over exposed and happy to swap into NWE. However, SP is still not back to where it was 4-5 months ago. Still happy holding majority of stake.

My view is rather sceptical on the news unless there is some immediate follow up in the weeks ahead which is obviously possible. There are deals on the table that they are actively following and I hope one or more of those come to fruition. Problem with small cap stocks like ADD is that they rally hard and then tail off unless there is more news.

gaz

[STRAT]

. I sold some at 3.5 cents because was over exposed and happy to swap into NWE.
gazAhh so thats you off loading those 500k chunks. lol.

Watch out, they will be calling you a capper or something alike over at HC. :D

[gazprom1]

Ahh so that you off loading those 500k chunks. lol.

Watch out, they will be calling you a capper or something alike over at HC. :D

Yeah, that is me alright...watch out I still have several 500k chunks to go so can't see the price going much above that until I am done. Very healthy to get the shares turning over and new punters/ investors onboard.

[gazprom1]

We are moving on up again today...3.6 as I type and Strat, I am just unloading another 500k bundle. Might be some fire behind this smoke. Could there be finally some results? Thin on the sell side.

Gazprom

[STRAT]

I am just unloading another 500k bundle.
GazpromDont do that Gaz :lol:

Wait for some liquidity. You are stalling our breakout lol http://www.aussiestockforums.com/forums/images/smilies/22_yikes.gif

[gazprom1]

Dont do that Gaz :lol:

Wait for some liquidity. You are stalling our breakout lol http://www.aussiestockforums.com/forums/images/smilies/22_yikes.gif

Just shows there was not a lot of punch behind the buyer(s) today as the SP dropped away. Happy to have sold a few more and swapped into...NWE! Hoping that ADD powers on as I have plenty of 500's left Strat!

Gaz

[Entrep]

Yeah not looking that strong despite the .3c or so increase, there was that massive vol a few days ago and failed to finish on its highs this time. Looks like selling to me

[percy]

I am still holding my small parcel.They appear to be getting on with the job.Announcements seem positive enough.

[Entrep]

Better finish, but on much lower volume - maybe it was selling/maybe not. Anyway good luck percy, will continue to watch.

[gazprom1]

Mr Haryono Eddyarto has become a substantial holder of ADD with 5.01%. Looking at the notice it looks like he has been behind most of the recent buying - he owns a few of my shares now Strat. ADD recently formed a JV with Eddyarto (60/40). Probably a good move on his part as he can get some board representation on ADD and exercise some control.

I would hazard a guess that he is behind the buying today which is supporting the current SP at 3.3 cents. Should find out tomrrow if it was him under the continuous disclosure requirements.

Gazprom

[STRAT]

I am still holding my small parcel.They appear to be getting on with the job.Announcements seem positive enough.Im still holding these too Percy. They have actually gone up during the down turn so I see no reason to sell em.

Hey Gaz.
So we know who has been buying now. Im always happy to see stock being bought be someone with a direct interest in seeing some upside. I guess he expects to make a few bucks or as you suggest wants to have some control.

[drillfix]

Ok, c'mon own up folks, which one of you guys are creating the volume spike of a 167 traded this morning :P

[gazprom1]

Was that you pushing up the price by 13% on Friday Strat or Mr Eddyato??? I will support you if you want to go onto the board=)

[STRAT]

Was that you pushing up the price by 13% on Friday Strat or Mr Eddyato??? I will support you if you want to go onto the board=)Haha, not me Gaz. Im still in "no buy" mode. I appreciate the support but Id be as useful on the/any board as tits on a bull.

[gazprom1]

Haha, not me Gaz. Im still in "no buy" mode. I appreciate the support but Id be as useful on the/any board as tits on a bull.

I see Mr Eddyato picked up another 1% last week and looks as if he may have picked up a few more today. IMO it is probably good news for holders as they simply could have by-passed ADD (Eddyato and mgment) and done the deals themselves. Not sure why Eddyato needs ADD though as he is a national and seems to have money and business ties. Views?

GAz

[Entrep]

Mr Eddyato bought a helluva lot of shares recently at a price around 50% above current levels and the price wallows with no sign of any activity but cash burn. I have some low buy bids in, anyone else?

[percy]

No,I am neither buying or selling at present."Am well positioned for the upturn," ie, all my junior Aussie miners are looking ill.!!,and I don't want to add to my losses.

[STRAT]

Haryono still buying. Thats nice.

[percy]

https://stocknessmonster.com/announcements/add.asx-2A1276639/

[percy]

Getting on with it.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02375131-2A1298389?access_token=83ff96335c2d45a094df02a206a 39ff4

[Entrep]

Jeepers all this old ASX resource stocks I used to hold coming back from the dead? Some interesting memories.

[percy]

Jeepers all this old ASX resource stocks I used to hold coming back from the dead? Some interesting memories.

I feel like a "born again" investor.
Dead ducks getting new directors ,and having capital raises.I have had fun applying for extra shares and getting them.lol.ADD,HLX, MLM,and SRZ.Did the same with FGR which I have since sold.

[percy]

Up 20.3% today to 8.9 cents.
Highest they have been for 5 years.

[percy]

Sold out today at 10cents.

[percy]

Bought back in on 14/9/2022 at 2.9 cents.Current share price 2.3 cents.
https://stockhead.cmail20.com/t/d-l-zjdmky-yupddjlly-ty/