NEC - Northern Energy Corporation

[slam]

Hi All
Did a search and couldn't find a thread for this one.
Had a nice run of late and looking strong TA wise.

anyone else in this?

Cheers
Slam

[aurelian]

Yes Its going well, came out of RSN

[Packersoldkidney]

I know of a certain MotorCranium on these forums who was flagging this privately a little while back. Has the stock selection down to a fine 'T'. Hope he held on for the ride!

[donnie]

A nice upgrade to 220m tonnes of coal announce today.

[mark100]

Been in NEC since the SPP last year at 35c. Nearing a 5 bagger now. They're planning to mine coking coal near Maryborough plus have some other thermal assets. Just done a placement to the Chinese who have signed an offtake agreement for the coking coal.

Must admit I have doubts whether they will ever get it off the ground but its still going up and the well run Contango Microcap fund have NEC as their largest position

[drillfix]

Been in NEC since the SPP last year at 35c. Nearing a 5 bagger now. They're planning to mine coking coal near Maryborough plus have some other thermal assets. Just done a placement to the Chinese who have signed an offtake agreement for the coking coal.

Must admit I have doubts whether they will ever get it off the ground but its still going up and the well run Contango Microcap fund have NEC as their largest position

Hi Mark,

Mate, I dont understand, you are holding and its nearly a 5 bagger, but yet you have doubts whether they will get it off the ground?

If I had any doubt they would get it off the ground, I think I would be cutting my position in Half, regardless if they were, or were not.

Support at 1.425 and intermediate resistance at approx 1.76, current sp 1.66, and the last 12 days has kinda been consolidating.

The stock is riding up on the 8ma which is above both the 20 and way above the 200ma,, RSI is strong so technically its not too bad though under, back to your original statement, for you to think about.

Obviously you should not listen to anybody, anywhere on forums but, I guess the question really lays with how confident you are.

[mark100]

drillfix, my postion was halved at $1.49-1.60. When I question will they get it off the ground I mean will they actually mine coal for a profit? Stocks can run a long long way before that ever happens. Look at Arrow and QGC, never made a NPAT to date from producing coal seam gas but are worth billions. NEC does have a coking coal resource, the sector is hot with potential for more corporate activity, Chinese have just invested and signed an offtake so there is lots off good news supporting the stock at present but in 2 years when they actually want to sell coal who knows if it will prove economic? It's a make hay while the sun shines story...

[drillfix]

Ahh, no worries there mark, I probably read your post a bit wrong and now Im with ya on the Hay and sunshine part. Like a lot of companies really.

For a while there, I was wondering "what part of a 500% profit do you not like" ROFL.

Well done.

[mark100]

Got back into these guys recently at just over the $1 level. The choice of coal companies to invest in, particularly those in production or near-term production is falling. The days of CEY, WHC, MCC etc being listed are numbered it seems.

NEC is not in the same class right now but it does look like they are steadily moving ahead with their plans to produce coking coal near Maryborough in 2012. If/when the southern missing rail link gets built they'll get another decent boost

I see both Southern Cross Equities and Wilson HTM have all started coverage lately giving them a decent rap.

[mark100]

Looks like a takeover bid. Time to get back into coal juniors if you haven't already

I've recently bought some COK on weakness and hold some NEC