I've dipped my toe into SLR today. Already wondering if I did the right thing, but it can quickly reverse direction on news or a spike in POG, so we will see.
Damn Thinking of cutting all losses tomorrow excluding CAS. CCU down 67% SLR down 54% CAS down 15% ACB down 67% (WHAT was i thinking!) Down to about 1/3 of the money I put into stocks not even a year ago.. Never in a million years would I have thought SLR would be trading at 71 bloody cents.
Of course the minute you do they will start to turn around, and then in six months you will be thinking "What was I thinking"
No point in getting out now......anyways its only a loss if you sell if I had spare cash id be topping up again on SLR & NST..
Yeah no point exiting now...it's worth peanuts! I'll wait for the first decent gold rally to let this one go, but I am not adding to it now.
.73 only up 2 cents today. Was expecting a bit more of a move up with miners today, 10% at least..dissapointed I understand the fall in gold prices has been softened by the falling AUD and all that but gold at around 1400 US doesn't really seem THAT low. Don't really want to think what would happen to gold miner shares if gold fell to below $1250. We cold see silver lake at 20c! Actually I don't mind thinking about that... mmm.. I could buy dozens of shares. Literally dozens!
What would happen if the price of gold falls below their production cost? Would they just cease production and go "dormant" for a while and wait/hope for the gold price to recover?
Or shift to the easy pickings - Put in another lowball offer - wonder if that'll get smashed like my last one - hope its not met (in some ways) - still think these guys are good value and at the moment a steal
In one announcement today: "Change in director's interest notice" Number acquired - "280,000 fully paid ordinary shares" What exactly does this mean? Im assuming that the directors of SLR have bought 280,000 shares? or is there more to it than that? Just read through the hollandaire drilling results announcement and although I can't entirely understand it I thought it was good news?
Was it 'Direct' or 'indirect'? Was it aquired 'on market' or 'via placement'? Sounds like Director buying Direct on market purchase is a good sign at least for Director confidence The directors are all buying below $1, some on HotCopper fear a merger offer or a takeover
More than 10% of the selling yesterday was short selling.... might have something to do with it. http://www.asx.com.au/data/shortsell.txt
On market if i remember correctly.. Surely if a merger or takeover was likely the directors wouldn't be buying like they are? (i'm assuming a takeover would be a bad thing, but i don't really know)
