SGW - another one expected to take off soon. A good profit opportunity, good annoucements - record amounts of minerals mined, rising gold price all good progress and good for the profit and shareprice.
"At this price it could be a takeover target for a larger company, which would add even more of a premium to its shareprice and would be a good buy ATM."..
"WIll it be riskier sooner rather than later. Is the shareprice really that volatile, ive heard some pretty good stuff about this company to date"... At $3.13 this is definetley overbrought, expect a retrace back to $2.50..
another poster:
I have been watching this morning and it seems like there are some big sellers lurking. I could be wrong but i think it would be wise to wait for some stability and then enter. I has hit 1.35 in march last year and i quess thats the support seen in the market depth around that price. That will form a nice double bottom. imho
One thing about hosh, he was nearly on track about this one having a double bottom. More quintuplet bottoms as there was sheet flying everywhere today.
News Report
UNDERGROUND mining will restart at Greenbushes after an absence of 21 years.
Sons of Gwalia resident manager Pat Scallan said a test decline was sunk in 2001 to see if a return to underground operations was viable.
"That was very positive, we found all the stuff we were supposed to find," he said.
The board of Sons of Gwalia, who own the mine, gave approval for underground operations to go ahead.
Tenders are currently open for subcontractors and Mr Scallan said work on the new decline would begin in October.
"We hope to begin production by January," he said.
About 60 new jobs will be created as part of the expansion.
These will include specialist engineers and geologists as well as underground machine operators.
Mr Scallan said the new employees would be encouraged to live in Greenbushes but it may depend on the availability of housing.
He said as well as Greenbushes, the mine's employees currently lived in Donnybrook, Bridgetown, Balingup and Boyup Brook.
"We are lucky being based in the South West because we can attract some quality people," he said.
The underground operation will produce about one million tonnes of tantalum ore per year, increasing the mines output by one third. This will produce 600,000 tonnes of mineral tantalum.
Mr Scallan said Greenbushes currently produced 35 per cent of the world's tantalum, which is used in capacitors for high end electronic equipment.
He said the ore body had 57 million tonnes of tantalum and was expected to last for another 26 years."
poster:, no i didnt see the article, but hopefully it does represent light at the end of the tunnel. I think that sgw is oversold at these prices, even if they come in with 15cpc earnings (from the current 23)
poster:I have had some contact with the CEO Mr Leevers and he assures me that "the management team here at Gwalia are fully committed to improving the position" so if that helps it at least indicates that they are not too happy themselves with the current share price. The article came from bridgetown.yourguide.com.au regards
I know how you feel...I bought Friday arvo...ouch!! Looks like I should have bought Lihir. Anyone know what the procedure is now? Do we get anything back?
I have reviewed the past few posts regarding SGW on Ozestock for interest only and have no intention of ridiculing those that made the attempts so have withheld the posters involved.
Simply demonstrating how easy it easy to be focused on the wrong issues and to be too emotionally involved. It can be painful and is a damn good lesson for not catching fallling knives and using a strict stop-loss.
SGW Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
