Thanks Kennas. Hopefully more news will come soon to get up to the 45 (and beyond lets hope). New to this stock so also hoping my timing is good.
ACS - Accent Resources
- Thread starter YOUNG_TRADER
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Thanks Kennas. Hopefully more news will come soon to get up to the 45 (and beyond lets hope). New to this stock so also hoping my timing is good.
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Hey Kamil,
I don't think there's anything due out, there was more drilling to come
Hmmm haven't seen any more buying or change in substantial holder notices from Pioneer Metals, maybe today was them
I took some opies off the table around 20c
Am holding a free carried position now which will join my retirment fund in the bottom draw
I don't think there's anything due out, there was more drilling to come
Hmmm haven't seen any more buying or change in substantial holder notices from Pioneer Metals, maybe today was them
I took some opies off the table around 20c
Am holding a free carried position now which will join my retirment fund in the bottom draw
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Couldn't help myself today,
had to take some more profits in the high 40's
Amazing, its moved almost 300% for me heads and options,
Was such an obviously underlvalued stock given the proximity to Extension Hill, the fact there was MAG on ACS's grounds (we just didn't know how much) and the fact that Sinom the purchaser's of Extension Hill Mag needed more Mag or to get their project up and running
Interesting that still no update from Golden Bell/Chinese Steel Mill
had to take some more profits in the high 40's
Amazing, its moved almost 300% for me heads and options,
Was such an obviously underlvalued stock given the proximity to Extension Hill, the fact there was MAG on ACS's grounds (we just didn't know how much) and the fact that Sinom the purchaser's of Extension Hill Mag needed more Mag or to get their project up and running
Interesting that still no update from Golden Bell/Chinese Steel Mill
Sean K
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Interesting that still no update from Golden Bell/Chinese Steel Mill
Well it seems that they didnt want to chase any more on Market and ended up going for a placement of 10mil @ 0.38 which now takes there stake upto 19.95%.
Also interesting that Golden Bell are going to nominate a director to the board.
Things are starting to move along well.
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Yeah I saw the ann too,
Its all coming together like I believed it would,
I took some more profits today ACS and ACSO (these have been 300%+ now)
What I don't get is I'm sure Golden Bell could have acquired their stake at a lower level had they been a bit more aggressive in their buying, but hey its all positive for ACS
Now to try and find the next 15c ACS out there with 300% upside
Its all coming together like I believed it would,
I took some more profits today ACS and ACSO (these have been 300%+ now
) What I don't get is I'm sure Golden Bell could have acquired their stake at a lower level had they been a bit more aggressive in their buying, but hey its all positive for ACS
Now to try and find the next 15c ACS out there with 300% upside
Sean K
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Failed at this point and traded sideways for a bit, but has clear support in the flag/pennant formation. A break up still gives the same short term target.
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Taking more profits here guys,
This has been such an amazing ride, kinda like YML early days
The company always was so cheap at 15c given the fundamentals and the Fe they had and now the re-rating is well and truly happening
p.s. Kenna looks like your chart played out
This has been such an amazing ride, kinda like YML early days
The company always was so cheap at 15c given the fundamentals and the Fe they had and now the re-rating is well and truly happening
p.s. Kenna looks like your chart played out
Sean K
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Must be a bullish market right now because I have rarely seen so many short term targets taken out like this. Lovely to watch.Taking more profits here guys,
This has been such an amazing ride, kinda like YML early days
The company always was so cheap at 15c given the fundamentals and the Fe they had and now the re-rating is well and truly happening
p.s. Kenna looks like your chart played out
Well done YT!
Good on ya guys. Only came on at end of April at 34 and missed just prior when settled around 25, but what a ride. Thanks YT. Great watching it lately go against overall market trend - nothing more sweet to watch. Well done on the charting Kennas. Look forward to seeing what happens with further news
Sean K
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ACS has had some very interesting developments of late
1. Around 10M has gone thorught the last 3 days at 16c-16.5c avg, most of these looked like pre-organised trades, ie a few large 1M-3M sells go up at 16.5c and are promptly taken out by a buyer
2. Richard Oh resigns from the company (thank god he was really dragging his feet) and now we get a chap who is head of Ascot Securities who were the brokers behind the cap raising and who from what I gather got the Chinese Steel Mill on board
Could be a corporate play at hand, whatever it is will be interesting to see how it plays out, 15c looks like its a breakout point chart wise with next target of 20c
1. Around 10M has gone thorught the last 3 days at 16c-16.5c avg, most of these looked like pre-organised trades, ie a few large 1M-3M sells go up at 16.5c and are promptly taken out by a buyer
2. Richard Oh resigns from the company (thank god he was really dragging his feet) and now we get a chap who is head of Ascot Securities who were the brokers behind the cap raising and who from what I gather got the Chinese Steel Mill on board
Could be a corporate play at hand, whatever it is will be interesting to see how it plays out, 15c looks like its a breakout point chart wise with next target of 20c
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Its simple really all you have to do is join the dots
It all started a few weeks back
27/5 Old management (Richard Oh) given the boot, new chairman who is a principle of Ascot Securities (the brokers behind ACS) appointed
29/5 Large share transactions at a very large premium go through almost 9M, turns out Rich Mark Development bought 7M at an avg price of 16c-17c
11/6 ACS gains 100% control of Mt Gibson for peanuts
6/7 Accelerated drilling and resource development program at Mt Gibson
Rich Mark acquires 1M shares off mkt at 20c note share price at the time is 15c so 30% premium
Rich Mark also acquires 10M 31s July 2010 12c options for 13c each, this implies a price of 25c per share
Whats happening here? well it looks to me like RichMark see's alot of value in ACS and is prepared to apy 17c - 20c and even 25c for the shares
The purchasing of the 10M options for 13c is the biggest vote of confidence as far as I'm concerned
And why do they see so much value? Well in 2006 when the Iron ore price was about what it is now so well before the hype, MGX sold Extension Hill which had 250Mt's of Magnetite for $50m ACS are targetting between 300Mt's-500Mt's
If we use the MGX sales as comparative value then at the lower end Mt Gibson is worth $50m and at the high end $100M to ACS = 45c - 90c
Not hard to see why Richmark are so interested in buying all the stock they can
It all started a few weeks back
27/5 Old management (Richard Oh) given the boot, new chairman who is a principle of Ascot Securities (the brokers behind ACS) appointed
29/5 Large share transactions at a very large premium go through almost 9M, turns out Rich Mark Development bought 7M at an avg price of 16c-17c
11/6 ACS gains 100% control of Mt Gibson for peanuts
6/7 Accelerated drilling and resource development program at Mt Gibson
Rich Mark acquires 1M shares off mkt at 20c note share price at the time is 15c so 30% premium
Rich Mark also acquires 10M 31s July 2010 12c options for 13c each, this implies a price of 25c per share
Whats happening here? well it looks to me like RichMark see's alot of value in ACS and is prepared to apy 17c - 20c and even 25c for the shares
The purchasing of the 10M options for 13c is the biggest vote of confidence as far as I'm concerned
And why do they see so much value? Well in 2006 when the Iron ore price was about what it is now so well before the hype, MGX sold Extension Hill which had 250Mt's of Magnetite for $50m ACS are targetting between 300Mt's-500Mt's
If we use the MGX sales as comparative value then at the lower end Mt Gibson is worth $50m and at the high end $100M to ACS = 45c - 90c
Not hard to see why Richmark are so interested in buying all the stock they can
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ok so correction MGX sold 73% for $52.5m so 100% would have been worth $72m
So given ACS are targetting 300Mt's-500Mts mag
and the deal was done in 2006 prior to the whole Iron Ore price craze we can say that
A low case 300Mts would be worth at least $72m = 65c ACS
to a high case 500Mts worth $144m = $1.30 ACS
no wonder RichMark wants in at these depressed prices
So given ACS are targetting 300Mt's-500Mts mag
and the deal was done in 2006 prior to the whole Iron Ore price craze we can say that
A low case 300Mts would be worth at least $72m = 65c ACS
to a high case 500Mts worth $144m = $1.30 ACS
no wonder RichMark wants in at these depressed prices
YT,glad to see your post here again.
From what I know, ACS will soon recover to 25c.Maybe it's only rumor,but definately there's another company who would like to takeover ACS.
I don't think the data in 2006 still works here,but we can see CXM.Last Dec,WHS would like to pay 0.18c/ton.I assume ACS has 300m to 500m tons potential.So the value should be 540m$-900m$,which equals 40c-67c.
From what I know, ACS will soon recover to 25c.Maybe it's only rumor,but definately there's another company who would like to takeover ACS.
I don't think the data in 2006 still works here,but we can see CXM.Last Dec,WHS would like to pay 0.18c/ton.I assume ACS has 300m to 500m tons potential.So the value should be 540m$-900m$,which equals 40c-67c.
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Well I once speculated that RichMark had Chinese links due to the director being chinese, now we have this
"Appointment of Director
Accent Resources NL is pleased to advise that it has agreed to appoint Mr. Jun Sheng (Jerry) Liang as a non executive director together with Mr. Jie You as his alternate. Mr. Liang is a director and principal of Rich Mark Development (Group) Pty. Ltd.
Rich Mark Development (Group) Pty Ltd (“Rich Mark”) is a company specializing in iron ore and steel trading and shipping, and has been importing iron ore to China from Australia, Brazil, Canada, South Africa and India since 1997. Rich Mark is a principal shareholder in two steel mills in China with total production in 2008 of over 6 million tons. It expects to import over 6 million tons of iron ore in 2009 for the consumption of these two steel mills. Rich Mark also has strategic investments in iron ore mines, shipping, ports and banking in China.
Accent believes this appointment should considerably enhance its strategic prospects going forward and in particular the development and prospects of its flagship project at Magnetite Range."
So really join the dots, we have a Chinese Steel/Iron Ore trader buying up a heap of shares in ACS at a premium to current prices, looks like their steel mills need feeder ore
ACS maybe in play I reckon watch and see
"Appointment of Director
Accent Resources NL is pleased to advise that it has agreed to appoint Mr. Jun Sheng (Jerry) Liang as a non executive director together with Mr. Jie You as his alternate. Mr. Liang is a director and principal of Rich Mark Development (Group) Pty. Ltd.
Rich Mark Development (Group) Pty Ltd (“Rich Mark”) is a company specializing in iron ore and steel trading and shipping, and has been importing iron ore to China from Australia, Brazil, Canada, South Africa and India since 1997. Rich Mark is a principal shareholder in two steel mills in China with total production in 2008 of over 6 million tons. It expects to import over 6 million tons of iron ore in 2009 for the consumption of these two steel mills. Rich Mark also has strategic investments in iron ore mines, shipping, ports and banking in China.
Accent believes this appointment should considerably enhance its strategic prospects going forward and in particular the development and prospects of its flagship project at Magnetite Range."
So really join the dots, we have a Chinese Steel/Iron Ore trader buying up a heap of shares in ACS at a premium to current prices, looks like their steel mills need feeder ore
ACS maybe in play I reckon watch and see
