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Thread: Codan - CDA

  1. 16-04-2013, 07:23 PM #21
    Snow Leopard
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    Exclamation In a gold rush get out of the way

    Not a great day for Codan, down from whatever $3.26 plus 32c is to $3.26, a near 9% fall.

    Now I thought that they made gold detector as one of their products but the fall seems to suggest that they are actually gold miners.
    I will have to go and read the words in the report and not just look at the numbers.

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    Paper Tiger
    om mani peme hum
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  2. 17-04-2013, 05:51 PM #22
    AndyLP
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    I'd have to double check the figures but from memory metal detection represents well over half Codan's revenue. Would be interesting to know how many metal detectors they're selling to people looking for precious metals. There's a chance that all the bad press gold is getting is behind the recent CDA price slump..
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  3. 17-04-2013, 05:54 PM #23
    mark100
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    I just got back in at $2.90. Maybe a bit premature but it's due a bounce!
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  4. 17-04-2013, 06:09 PM #24
    mark100
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    And out at $2.95 - decided I wasn't game to hold overnight!
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  5. 18-04-2013, 02:03 PM #25
    Snow Leopard
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    Exclamation In a gold rush KEEP out of the way

    Quote Originally Posted by mark100 View Post
    And out at $2.95 - decided I wasn't game to hold overnight!
    Was definitely a wise move.

    You have to wonder when this will turn around, stop or just stop dropping so precipitously.

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    Paper Tiger
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  6. 18-04-2013, 02:24 PM #26
    tosspot
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    yea what in the world has everyone running for the hills so badly. They posted excellent half year results and a positive outlook. And they dont mine gold they sell equipment to gold miners so surely not the gold plunge especially not more of a plunge than gold miners themselves. keeping an eye on this one.
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  7. 18-04-2013, 02:40 PM #27
    AndyLP
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    There was a ramp in the price after the Motley Fool Australia recommended Codan in October. In their report they mention "Sales of Codan metal detectors have been enhanced by a continually high gold price - making prospecting a particularly lucrative activity. A lower gold price might make prospecting less attractive - and hence hurt sales." While Codan is def not a mining company, they have recently started a mining technology business.
    IMO the market has overreacted to gold price drop. PE is down to 11. Looking quite cheap now..
    Last edited by AndyLP; 18-04-2013 at 03:59 PM. Reason: grammar
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  8. 18-04-2013, 03:46 PM #28
    mark100
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    I bought again at 2.73. Might be a bit premature but the sell-off looks overdone
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  9. 19-04-2013, 12:10 PM #29
    Snow Leopard
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    Red face Breaking the Old Rules, Making up the New Rules

    Back in at Open ($2.64).

    Let us see how it goes....

    Best Wishes
    Paper Tiger
    om mani peme hum
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  10. 19-04-2013, 02:50 PM #30
    AndyLP
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    Quote Originally Posted by Paper Tiger View Post
    Back in at Open ($2.64).

    Let us see how it goes....

    Best Wishes
    Paper Tiger
    Looks like you nailed it...
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