LGL - Hold, Buy or Sell?
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     mads
Member
Username: mads
Post Number: 83
Registered: 12-2004Rating: N/A
Votes: 0
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| | Monday, August 20, 2007 - 01:29 pm: |  
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With all the uncertainty around one would have thought LGL share price could have been higher. Is LGL, a hold, buy more or sell?
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tryhay
Member
Username: tryhay
Post Number: 710
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Monday, August 20, 2007 - 01:38 pm: |
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Good question mads
I took a position this-morning because the consolidation over the last year must be coming to an end some time soon.
I'll be surprised if it trades much lower than ~ $2.70, but wont be topping up till it demonstrate performance (say better than ~ $3.20)
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mads
Member
Username: mads
Post Number: 84
Registered: 12-2004Rating: N/A
Votes: 0
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| | Monday, August 20, 2007 - 01:48 pm: |
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Tryhay,
I have topped up 3 times before when prices slid back thinking it might be time soon for it to sail north northeast but I have been bitterly disappointed every time. With all this chaos around, LGL might be building-up another base to bounce from and move ahead? Am I just dreaming????????
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tryhay
Member
Username: tryhay
Post Number: 711
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Monday, August 20, 2007 - 02:05 pm: |
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Such is life Mads
OXR, MMX, BSG, PDN, JML and the list goes on...., I've had to sell off recently but I have maintained a position until this market decides to behave. The only thing earning $ is the short shorts (have just topped up today ~ even though this bounce may just have legs till thursday).
I notice (as HC pointed out recently) Zn is off the boil and perhaps Fe as well.
Gold looks to have legs ~ as the chart below shows:
Perhaps the day will soon arrive when LGL chart looks like this
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tryhay
Member
Username: tryhay
Post Number: 728
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Sunday, September 09, 2007 - 09:58 am: |
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Looks like the consolidation music is coming to an end for LGL, and some of the indicators are starting to look +ve. In fact, the share price is at the pointy end of the triangle and I don't see the breakout failing (DYOR).
On a fundamental perspective:
* Lihir Gold posts loss in first half, but miner sees solid improvement in annual earnings as production soars and gold prices stay high:CEO HOOD,
* Lihir was now unhedged, which was important as investors favoured unhedged gold companies in order to benefit from the current high gold price
* The plan is to get the Ballarat East project into commercial production in 2008, with production expected to ramp up to a rate of 200,000 ounces by the end of that year.
Weekly chart: Fake or real breakout occurring here? Hmmmmmmmmm
Seems like an unusual reaction to interim profit downgrade and no div.?
Daily chart suggests the price action is resulting from impulsive gaps and another on the site has taken a position on the "personality of LGL".
close to top up time IMO - particularly if gold does the breakout thingie too....
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