PRC Pike River Coal

[Ttops]

Came in 13 secs, flopped in a little over 5mins to its close.[|)] The expectation was probably more satisfying than the result for many.

Only a few pulled out fast enough and was it all worth it. The buyers seem reluctant to pay any more than you did. Certainly an example of an overhyped share at this stage anyway.

Now you can look forward to having your money stuck in for at least another three to six mths doing very little and even falling (PT) or take the offer at $1.00 and look at real growth. Perhaps you may even get asked for more.

I plan to watch this one and get in before the good news. I sent off for the prospectus and when I was told they "might be able" to get me some shares I had a fair idea there was plenty of demand but not excessive. A fair indicator it wouldn't be a raging success as a stag. I was right and went for the Aussie market instead.

I bought some ADY at 26c closed at 40.5c tonight in less than three weeks On the rise again. Get out before midday Monday and into the ASX by 12. [^] Make some profit then have another look at this one when its further progressed.

I believe there is more prospect in ADY than this share for the next six mths and definitely more in ADY over the next two years. PRC is going to be a steady earner not a 4 bagger like ADY imo.
Only time will tell.

[The BOWMAN]

Two many small speculators that is the problem. Average trade size below 10,000. What PRC needs is to dip below $1 and scare away all of them.

[Snow Leopard]

quote:Originally posted by Paper Tiger

Prediction:
I will look in this here thread tomorrow night and there will a couple of pages detailing pre-open depths and prices, the progress during the day, self-congratulatory back-patting as your holding increases in value and post close analysis of the great future.

I will buy your shares from you at 93c a pop in a few months

best wishes
Paper Tiger

Disc: NZO & NZOOD amongst other stuff.

Well it did not go as well as expected, I thought you would get a couple of cents more. I can see that many of you are disappointed and putting a brave face on it.
Never mind, worse things happen at sea, I am sure it will be all right on the night, etc.

quote:Originally posted by digger

Do i detect that Unicorn and Paper Tiger did not take up their allications and now want a failure listing to get in cheap.

I expected better of you Digger.

regards
Paper Tiger

[tim23]

Scuffer & Paddie - so good in hindsight but 1 day is just that 1 day in the life of a public co so relax time will tell if you are right?!

[Scuffer]

Hey Tim if I'm right I will be buying in next year not now I got a tip to stay away until next year even posted the warning on this thread but was anyone listening, not from the reaction at the time too many were thinking of the big profit come the day of floatation.

[Sideshow Bob]

How many went through at $1.07??

Pike River shares list at 7pc premium
1:00PM Friday July 20, 2007



The Pike River coal mine project on the West Coast has taken a long time to get off the ground.
Pike River Coal shares listed at $1.07 today - a 7 per cent premium over their $1 issue price.

The listing means the company has a capitalisation of $216 million.

The listing is a relief for exchange operator NZX which has only seen one small, New Zealand listing this year -- software company Xero. As in recent years, there have been a dearth of IPOs on the stock exchange.

Pike raised $85m in the IPO, accepting over subscriptions of $20m.

http://www.nzherald.co.nz/section/3/...ectid=10452783

[Ttops]

How many went through at $1.07??

SB
342677 shares sold at 107 or 108 in 1min 28secs
V.W.A.P. for the day of of 103.2c

[Unicorn]

quote:Originally posted by digger

Do i detect that Unicorn and Paper Tiger did not take up their allications and now want a failure listing to get in cheap.

Not so Digger. I am an indirect holder, through NZO, so would prefer the PRC share price to be as strong as possible. I also believe that a weak PRC price will hand the company to Australians at a cheap price, and I am very much against that.

I am not looking to get in cheap in the immediate future. I will not even consider an entry until the mine has a transport chain - a stack of coal on the West Coast has little value if it cannot be brought to market economically. Hopefully that hurdle will be overcome soon, and missing the 29 June target will not correspondingly impact on delivery of the ships.

With coal shipments planned to start in earnest Q4 2008, I expect Q3 2008 to be my most likely entry point. I think PRC has much more value than the current share price indicates, but I do not expect the market to acknowledge that value for quite a while yet.

[Hoop]

Quote Scuffer
Hey Tim if I'm right I will be buying in next year not now

Odds on you wont get a chance to.
After the next rights issue and all the investor money has come to pay for final development, this one will be taken over for sure . PRC is classic takeover bait. Don't expect NZO to be the white Knight, coal is not their niche.

[Sideshow Bob]

quote:Originally posted by Treetops

How many went through at $1.07??

SB
342677 shares sold at 107 or 108 in 1min 28secs
V.W.A.P. for the day of of 103.2c

Thanks TT