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BTU, BATHURST RESOURCES LIMITED
mcart117
post Posted: Feb 25 2014, 01:47 PM
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In Reply To: aad666's post @ Feb 25 2014, 12:44 PM

Sadly for this one it could be. unsure.gif

 
aad666
post Posted: Feb 25 2014, 12:44 PM
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In Reply To: mcart117's post @ Feb 25 2014, 12:24 PM

Did you say "last post"?


No disrespect to our servicemen intended

 
mcart117
post Posted: Feb 25 2014, 12:24 PM
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In Reply To: mcart117's post @ Oct 25 2013, 12:12 PM

How ironic that mine was the last post, because this turns out to be another example of Arty's TA winning out and yours truly biting the dust. I was all set for a swift ramp up to profitable production, and now I feel rather silly, not to mention a few dollars poorer. sad.gif



I think when resource juniors get caught up in fights with greenies it's easy to get distracted away from the question of whether they can actually make a profit when they win the legal/political battles. LYC is another example, as may be GGG.


 
mcart117
post Posted: Oct 25 2013, 12:12 PM
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In Reply To: arty's post @ May 10 2013, 09:45 AM

And the bookies are fuming as the rank outsider Bathurst Resources (now BRL) romps home with a fistfull of court approvals!




 
mercury
post Posted: May 10 2013, 10:50 AM
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In Reply To: arty's post @ May 10 2013, 09:45 AM

you are right Arty. Low volume except when it was at the bottom of the chart. Somebody was picking up a lot around 16cts.

Merc

 
mercury
post Posted: May 10 2013, 10:00 AM
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In Reply To: mcart117's post @ May 3 2013, 11:09 AM

Very surprised that the greenies would be in charge according to the punters. The courts don't seem to think so. the greenies are appealing all the time. What they have done, however, is slow the process down considerably.

some very big institutional holders.


And New Zealand needs the work, (just as all countries do). I am of the opinion , that should the greenies lose the appeal the stock should fly. but that is just my opinion

 


arty
post Posted: May 10 2013, 09:45 AM
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In Reply To: mcart117's post @ May 3 2013, 11:09 AM

At face value, this http://www.asx.com.au/asx/statistics/displ...;idsId=01407557 may have sent a few more punters to the bookies.
On closer inspection, however, low volume and late push-up makes me very suspicious of the move. I'll stand aside.

Attached Image





--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
mcart117
post Posted: May 3 2013, 11:09 AM
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In Reply To: arty's post @ May 3 2013, 09:09 AM

Without wishing to bore the thread with fundamentals, I believe this is weighing on the stock:

QUOTE
Bathurst Resources Limited (ASX & NZX: BTU) wishes to advise that, in relation to the interim
decision announced by the Environment Court on 28 March 2013, the Court has directed the parties
to work together on drafting conditions of consent.
Judge LJ Newhook has also set a timetable for a short hearing, if that is necessary, in relation to any
remaining disputed matters:
i) Buller Coal Limited and the Councils will need to serve their evidence by 17 May 2013; and
ii) The appellants will need to serve their evidence by 31 May 2013.
Judge Newhook has set aside time for a hearing, should all matters not be resolved beforehand, on
11 and 12 June 2013.


If the greenies scupper the project the stock is worth nothing. But if they don't, BTU is sitting on a hefty reserve of coking coal, and is projecting operating costs which should yield modest cash flow for a couple of years and good profits after that.

From the chart, the market believes the greenies have a strong case. From my rough calculation of the reserves:MC buying this stock is like walking up to a bookie and placing a bet on a 20:1 outsider. Bookies aren't stupid (and neither is the market) so the horse probably won't win. But if it did, even the smallest punt would yield a nice return.

So in answer to your question: betting people!

 
arty
post Posted: May 3 2013, 09:09 AM
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In spite of everything, coal is still "on the nose" - and BTU has been especially "smelly" for a long time.
Just start with the monthly chart and ask yourself, Why would anyone be exposed to a stock with such a trend?

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Even after a brief rally mid-2012, which almost got back to the 2011 low, the weekly chart has broken down and is now threatening to drop to the 161.8% level, frequently the target after a 0 - 100% - 61.8% sequence moves past the former 100%.

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PS: Candle-Stickers will notice the Dominant red candles. (See my comments on them in the ORS thread.)

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--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
macduffy
post Posted: Oct 11 2012, 08:13 AM
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Significant increase in reserves at Buller Coal Project.

http://asx.com.au/asxpdf/20121011/pdf/4299jvfmn97sjn.pdf


Said 'Thanks' for this post: seeker4it  
 
 


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