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Hmm ... So much for that Bullish Engulfing Candle Arty.

 

Even my ex never managed to have me climb the walls (or maybe I just forgot) but this company has had me clawing at the ceiling for months :(

 

What's it doing below $1 again? What is it even doing below $2?

 

Yeti.

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"promises" I said.

Ever heard of "broken promises"?

 

Every candlesticker will tell you, it's an indication of a "probability". Never a certainty.

 

I hope you didn't take it as the latter. I looked at it early this morning, picked up a batch - 2500 for starters - and dropped them before a small loss would've turned into a big one. Chalk it up to cost of doing business.

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No worries Arty, I didn't take your word for it (no offence :) ), and I am not trading this; it seemed like a good buy and hold when I bought and I've now been holding for well over three years.

 

Just trying to figure out what could be making this bounce up and down the way it has. Volume has been well above average too for the last five days or so. Maybe someone is playing games with it.

 

Yeti.

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Offence? Never - yours was a legitimate question and comment.

 

Somebody may well play games; maybe they want to get rid of their shares at a reasonable price, so they drive it up one day, then sell the next. Were they to sell day after day, MPO would be down to 80c - where my initial guess pointed anyway. It was only when I saw support yesterday at Fib 161.8% rather than 200% that I got my doubts and --- in the end paid a few $$ for doubting my initial guess. (if that makes sense :sadsmiley02: )

 

As I've now given back a good part of the profits I made earlier from MPO, I'll place it in the sin-bin of stocks that "don't have Trinity in their DNA", Trinity being of course my overall trading setup.

 

post-20537-1292316198_thumb.jpg

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Games?? Possibly....... as there is never any shortage of sellers to knock back any rise on the news we have had recently and the large seller at 99.5. are they there to create an illusion to mop up loose hands?? That always makes me suspicious so far away from the action. Normally you donot see big volume congregations on MPO!

Interesting to see what happens when they release the finer details of the Canadian IPO.

 

As for todays news......

Commencement of sales is dependent upon the Production Right and will lag the latter by approximately 9 months.

 

Announcement back in April 2010 when gas sales agreement was signed: Gas sales are expected to commence by March 2011.

 

Don't forget the fine print either to all those that say it is 100% Molopo's.

2. Molopo's current interest is 100% but is expected to reduce to 80% after Black Economic Empowerment obligations are met.

So the income will be small at first but not all for Molopo! Also will be longer time frame before it starts as well!! V1

Hmm big 200K plus seller just removed their order while i was typing......How long before it is back??

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New Substantial holder with 5.06% is Northcape capital..

Now we know why the games of late. They have picked up 14.48 million shares and sold 1.75 million on the way to achieve it!!

They are acting for HSBC,JP Morgan,National Nominees and a RBC Dexia Investor services. V1

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Molopo Energy Limited (Company) has received a requisition from shareholders holding approximately 6.75% of the issued capital of the Company to call a general meeting under section 249D of the Corporations Act.

The requisition has been received from Beck Corporation Pty Ltd, Holbrook Corporation Pty Ltd, Investment Holdings Pty Ltd, BLM Superannuation Nominees Pty Ltd, Hochlunch Pty Ltd, Rocati Pty Ltd and Mr Noel Christopher Spink. The requisition includes a request that the general meeting consider resolutions appointing Mr Gregory Lewin and Mr Max Beck as directors of the Company, as well as resolutions removing Mr Donald Beard (Chairman) and Dr David Hobday (Nonexecutive director) as directors of the Company.

"Board composition is ultimately a matter for shareholders", the Chairman, Mr Don Beard, said. "Our duty in these circumstances is to act in the best interests of all shareholders by clearly outlining the issues so that shareholders can make fully informed decisions."

A copy of the requisition is attached. The Company will send shareholders a notice of meeting in due course outlining the date and time for this meeting.

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It is time for a changing of the guard.

 

For too long shareholders have had to wait to be rewarded.

 

It is time to revitalise the Board.

 

Some background information about Greg Lewin:

 

http://investing.businessweek.com/research...tle=SASOL%20LTD

 

 

 

http://people.forbes.com/profile/gregory-arthur-lewin/148215

 

 

 

http://www.prnewswire.com/news-releases/sa...l-88408697.html

 

 

 

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