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Trade Trends with Bollonger Bands and Twiggs Money Flow

MUX Mungana Gold Mines - What is it going to be?

Chart Forum » Stocks - ASX: long term & fundamental » MUX Mungana Gold Mines - What is it going to be?

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Username: peterloh

Post Number: 3717
Registered: 03-2003

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Thursday, June 17, 2010 - 02:30 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)

Through my investment in KZL I have been allocated 1/16 of the priority offer on KZL shares that I own in MUX at 95c each in a new IPO. The lead manager is Southern Cross.To make up for the limited quantity offered I applied for a fair amount on my own. Because of the poor sentiment in May and the announcement of the RPST I was satisfied with a full allocation.THis is unusual as KZL has been rather tight with excess allocation.

The shares is now listed, however there is little transaction on the shares. The top 3 companies own 80% of the shareholdings and the top 20 companies own about 96% of the company.Many of the other shareholdings will have unmarketable lots. THe company intend to drill to upgrade their gold and other reserves these 2 months. I guess there will only be little movement in the SP till the results of the drilling are known.Meanwhile it is going to be a long patient wait.

Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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