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ALK, ALKANE RESOURCES LIMITED
mullokintyre
post Posted: May 20 2020, 09:50 AM
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ALk announced that it will deffinitely go ahead with the demerger of ASm(its REM prospect), and become a pure Gold production company.
Not sure whether I like this idea or not.
I had originally bought into Alkane for its REM assets, the gold part was an added bonus.
I always assumed the gold production would be used to pay to set up the REM side of the business.
It seems not to be the case now.
Given 20 mill in seed money to get it going.
ASM will then need to start arranging finance for the project.
Might be a tad difficult in this market, but with strategic demands for REMs outside of China, it may yet get off the ground.
Shareholders get 1 ASM for every 5 ALK.
So do I sell out a portion and buy more ASM on market when they hit, or do I keep my powder dry??
Will wait till i get the demerger booklet before I decide whether to bail.
Mick



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mullokintyre
post Posted: Apr 29 2020, 09:57 AM
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Quarterly report out today shows guidance for full year unchanged, with plans for a smooth transition to mining/production at Boswell and tenements further south.
ALK at an interesting intersection.
The ADR's in Canada Exchange are being converted to underlying shares, and owners have until Jan 2021 to complete transactions.
The REMS section of its business is planned to be siphoned off into a separate entity (ASM) and listed on the ASX in the September quarter this year.
It will leave ALK as a purely copper/gold production entity.
Not sure how all this will play out, theres a fair bit going on, but will keep my stake until something comes along to urge me to offload.
Mick



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mullokintyre
post Posted: Apr 22 2020, 10:52 AM
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And down the snake it goes.
Had a low ball order at 71 partially filled on the open, much to my surprise.
Don't know why it got crunched, had some more good drilling results out today, but the market seems to just be weird ATM.
mick



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mullokintyre
post Posted: Apr 14 2020, 12:53 PM
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In Reply To: mullokintyre's post @ Apr 9 2020, 09:35 AM

Now I am getting excited.
Up 20% today.
Took some profits off the table, too good to pass up.
Still have a few, so don't mind if it goes up further.
Looking to surpass the 1.15 high from earlier this year before the virus hit.
Mick



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mullokintyre
post Posted: Apr 9 2020, 09:35 AM
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ALK releasing more reasonable drilling results. Starting to flesh out how big the resource area is.
Needs a bit more work before I get excited.
Mick



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mullokintyre
post Posted: Feb 27 2020, 01:33 PM
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In Reply To: mullokintyre's post @ Feb 27 2020, 09:08 AM

Damn, didnt get below 80 cents, now has recovered.
Can't win em all.
Mick



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mullokintyre
post Posted: Feb 27 2020, 09:08 AM
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In Reply To: mullokintyre's post @ Feb 13 2020, 01:49 PM

ALKJ . like all the goldies has been hammered over the past few days after ru8nning ahead big time.
ALK released its half yearly report, which shows everything doen.
It was not unexpected, as they forshadowed the slow down due to switch from open cut to underground mining,
But it stil got hammered again today.
Looking to pick some up below 80 cents.
Mick



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mullokintyre
post Posted: Feb 13 2020, 01:49 PM
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After reaching highs of 1.16 just after the opening, ALK has settled at just over a buck.
Now more buyers than sellers, so will probably see continued consolidation around this level for a while.
Those who bought at that 1.16 level and just below might be feeling a little less excited.
Mick



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mullokintyre
post Posted: Feb 12 2020, 09:21 AM
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In Reply To: nipper's post @ Feb 12 2020, 09:15 AM

No doubt it is, but that doesn't mean the acronyms can't start investigating who were the ones getting inside advantage.
Mick



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nipper
post Posted: Feb 12 2020, 09:15 AM
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In Reply To: mullokintyre's post @ Feb 12 2020, 09:08 AM

Pretty hard maintaining tight hole conditions and hiding a drilling result. Too many eyes and ears involved in the process.!



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