NORWEST ENERGY NL (ASX:NWE) - Still Holding! - Whats next, page-42 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by tui: ↑

Hi everyone,
It has been a big day.
I was really pissed that LD2 did not come in. Then I started asking questions and got advice from very learned friends. One of them said " Get your skates on and sell and protect your retirement."

So today I rang MIN and they are sending me a form to me to convert 18m NWE shares to MIN. They said I would receive the email today but I could not complete it until tomorrow....Then I looked at the market opening this morning. It looked like a poor start at 5.6 so I put 16.5 million up for sale at 5.9 which got met by mid afternoon. Additional volume was significant which led me to believe ( think ) that maybe NED-1 might be the monster they had suggested earlier. NWE finished the day pretty strongly.

And then I get a call from Aussie from a learned poster to say that there were quite a few MIN executives buying NWE. Well this is better than the rumour thread which actually has Andrew Greggs and mir911 correct in what they forecast from 'local' information a few days before the official result..i.e. a dud.

So I sat done and weighed it up. I have been down $600,000 on NWE ( can you even imagine that!!?? ) and now I have made $2 million provided I sell out now at 5.8 ish . So I pushed the sell button continuosly all day and got rid of 16.5 million shares at about 5.95 cents. I have kept 1.5 million to see how NED1 goes.
I will not be completing the MIN acceptance form

I was impressed to see that greenleaf kept a few. There is still strong interest in NWE and you can bet that I wish all existing holders the very, very BEST.
BEST
tui

Expand

Tui, I have cash to buy in, but do not hold right this minute. I await the pull back. Have placed a buy and am in line - a great reduction from the 28.6mil. held when in top 20 then top 10 as the acceptors fell. As previously said I couldn't stomach a huge loss and was out of options to protect my holding after LD2 came in short.

Definitely couldn't imagine a $600K loss have taken a $200K hit - not prepared to take it on NWE. A player can only take so many of those big hits. Not prepared to take a loss as a holder of NWE.

Interesting piece of info regarding minres executives.