Ann: Quarterly Reports - December 2017, page-73

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16/01/18

23:11

Post #: 30357059
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Originally posted by yanlin ↑

Brotherprinter,
Interesting you mention ORE in your post. I can't help but think they will have a major impact on the short term market sentiment for Oz Li stocks in coming days. ORE's proposed capital raising (excluding the special placement) to raise $79m from existing shareholders (on a 1 for 20 basis) will no doubt see many players sell down other investments to raise capital to throw into ORE as this cap raising is at a pretty significant discount to market price. I can see a bit of arbitrage going on over the next few weeks.
That will, unfortunately, impact us just when we have gone to market with our quarterly report and there's probably not a lot left to say to the market (in terms of meaningful announcements) for at least a month or so. We could be in for a bit of profit taking and rebalancing of portfolios as investors in both stocks look to maximise short term returns.
Also, I expect to see a few broker reports on the back of the quarterly report as early as tomorrow. Judging by the late end of day trading I expect some brokers have already formed their views and acted accordingly. We have already seen in previous reports a number of brokers articulating the view that GXY was fully valued at around the $4-$4.20 mark whilst MC was the only producing asset.
I hope I am wrong, but I get a sneaking suspicion we may see a few down days before we see any real positive move.
Also, I am still smarting from last Thursday's action that saw the big players offload truckloads of GXY stock because of RIO's decision not to pursue the SQM parcel that is currently looking to be sold. I feel as though we could see a repeat market performance - albeit on a much smaller scale. Have a look at the profit taking on PLS as well. That suffered a lot more because they are still not producing, whereas we have great income and cashflows at present.
GLTA - and be a little more cautious over the next week or so (IMO).

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$4.00 - $4.20? Please provide a source? The average I have is over $4.40 from the major Insto's and that includes a low ball $3.90 "upgrade" from Macq...

GXY Price at posting: $4.26 Sentiment: Buy Disclosure: Held
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Ann: Quarterly Reports - December 2017, page-73

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The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

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