Don't stress about it mate, it's not important. Just a few general queries, if you haven't had time to read. I think I've decided to ride this one out, and accumulate more stock when the market bottoms out, if what you saying is coming eventuates. I don't yet have the knowledge to pick the highs and lows of the ASX.
ADX - Audax Resources
- Thread starter James23
- Start date
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- #77
Thinking medium-term i have no doubts this will be higher coming into drilling, i'm just sticking to my original plan of bein 100% cash during this period, good luck
James, its not looking good for your prediction mate.
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- #79
I have no doubts the market is going ALOT lower, maybe im wrong about the end of october, maybe not
Definetely not entering the market until after this period though
Definetely not entering the market until after this period though
ChrisFooty
Premiership Player
No market crash coming. Looks like the worse has well and truly past, unless China pops. Even news of Dubai banks failed to crash the market significantly lower.
Currently sitting near 10 cents, It looks like this little company could be drilling for oil with some disappointing results. Example - they drilled and discovered there was no oil. Hype will only get you so far.
Currently sitting near 10 cents, It looks like this little company could be drilling for oil with some disappointing results. Example - they drilled and discovered there was no oil. Hype will only get you so far.
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- #81
Very tempting at 8.5c.
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- #83
Drilling in June - just like the management promised, exciting times.. just very concerned about the market
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- #84
Wrong on all accounts there.
Yes there will be another market crash coming, it's all in the timing.. something i have given up on predicting. It happened in the 1930s and is on the same cycle today.. a major crash followed by an extended bear rally gaining back most of the losses, before crashing to new lows which lasted for a further 2 years.
Back to ADX, i don't follow your comment regarding the drilling for oil for disappointing results. Drilling has not started yet. A hit at Sambucca will send this into the $'s.
ChrisFooty
Premiership Player
So will the share market re-test the peak GFC lows of March 2009? It will be another great depression if that was the case, very unlikely. You still need China to crash and burn. I have no doubt the share market will dip lower, but that is just a correction. After all, the share market has risen very steeply in recent times. It needs a breather.
Very high risk ADX. Sure, it could balloon to ten bucks a share if they drill Sambucca and find a ton of oil. Very small percentage chance I would of thought.
ADX dipping to 8 cents a share.
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- #86
I'm in again at .085
Farm-in announcement imminent, with drilling in June.
Farm-in announcement imminent, with drilling in June.
I have taken a little hit on these fella's, got 2 lots above the 0.13 marker (for long term) a little while ago.... Hopefully good news sometime this year.... but not holding my breath.
Hillgrove (HGO) has been the stand out for me this fiscal - got in at .195 anf has been as high as .510 or so.
Hillgrove (HGO) has been the stand out for me this fiscal - got in at .195 anf has been as high as .510 or so.
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- #88
Could run any day now. Why this is still under 10c is beyond a joke
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- #89
And were off, farm-in announcement due any day.. gold spin-off coming, chart looking very healthy.. nice close at 12c
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- #90
Director just bought $250,000 worth of shares on market.
Read between the lines
Read between the lines
ChrisFooty
Premiership Player
Director just bought $250,000 worth of shares on market.
Read between the lines
Classic case of pump and dump?
It has dropped back to 11 cents. Could fall back to 10 cents next week. A new director has purchased a ton of ADX shares, causing the share price to increase. All because of one man. He might sell for a nice handy profit next week.
They have not found any oil. This is a very high risk investment, James23 is making it sound like this stock if a definite buy. Be careful were you invest your money. If this company does not find significant oil, the share price could fall back to under there cents.
James23, what do you think of the fact that Tunisia has proven to have been a fruitless area for drilling for oil? I believe Mundy earlier pointed this simple fact out. You could have the best managers in the world, but if there is no oil, or they can not drill the oil with their equipment, then having top quality management will mean bugger all.
I hope ADX and Wolfgang Zimmer has a success here, but it's very high risk.
Wolfgang for president.
ChrisFooty
Premiership Player
Why was it a joke it is was under 10 cents (11 cents as I currently speak) They have not drilled any successful oil off their highly regarded prospects. Sambucca has not been successful yet, so it's still a very big gamble. Think of it like betting a Melbourne cup runner at 25-1.
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- #93
A farm-out agreement, will send this into the 20s, regardless of whether oil has been drilled yet or not.
A message from the new Chairman, “The combination of large exploration resource potential, high retained equity and funding via farmouts is expected to provide AuDAX shareholders with exceptional leverage to success.”
I have full confidence in the board, and the above quote gives me confidence that a farm-out agreement will be arranged in the near future.
I strongly doubt the new director buying $250,000 worth of shares is going to sell them next week. That would be a disastrous move by the management, and would send the share price crashing.
I trust the management, and therefore have no doubt of any other alternate motives for buying those shares, other than having full confidence in the projects ahead - there is no other reason why someone would use $250,000 of their own money.
It is also estimated that 80% of director buying turns out to be profitable. The bottom line is no one is going to spend their own money is they are going to lose money, especially in excess of hundreds of thousands of dollars.
In regards to them finding oil. Wolfman’s career is littered with success. I do not think he’d sacrifice his reputation at the end of his career with some penny little, if he did not genuinely believe he can pull this off. Of course theres a chance they might not find oil, but theres also a chance they might, and to suggest 25/1 is a long way off. Risk vs Reward, there is no better stock on the ASX IMO, and the rewards far outweigh risks. I could lose 50% of my outlay, however I could also gain 5000%
A message from the new Chairman, “The combination of large exploration resource potential, high retained equity and funding via farmouts is expected to provide AuDAX shareholders with exceptional leverage to success.”
I have full confidence in the board, and the above quote gives me confidence that a farm-out agreement will be arranged in the near future.
I strongly doubt the new director buying $250,000 worth of shares is going to sell them next week. That would be a disastrous move by the management, and would send the share price crashing.
I trust the management, and therefore have no doubt of any other alternate motives for buying those shares, other than having full confidence in the projects ahead - there is no other reason why someone would use $250,000 of their own money.
It is also estimated that 80% of director buying turns out to be profitable. The bottom line is no one is going to spend their own money is they are going to lose money, especially in excess of hundreds of thousands of dollars.
In regards to them finding oil. Wolfman’s career is littered with success. I do not think he’d sacrifice his reputation at the end of his career with some penny little, if he did not genuinely believe he can pull this off. Of course theres a chance they might not find oil, but theres also a chance they might, and to suggest 25/1 is a long way off. Risk vs Reward, there is no better stock on the ASX IMO, and the rewards far outweigh risks. I could lose 50% of my outlay, however I could also gain 5000%
- Thread starter
- #94
Big volume going through.. currently at 13c and in a Trading Halt
Pretty excited.
Pretty excited.
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- #95
The suspense is killing me, Farm-out announcements coming in the next few days, currently at 13.5c if the market stays steady, it wont be staying at around this price for very long
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- #96
closed at 15c.. looking at the activity on this thread, most people have lost confidence and jumped off.
Pity.
Pity.
Car Ramrod
Left Back at Home
Not me, I've been in since November and I'm just happy I stuck around long enough to be seeing some positive gains.
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- #98
Might i remind everyone that a past announcement valued a successful Sambucca drill at 365c, this with oil at $70 a barrel.
That is 1 billion barrels of oil at p50.
Scheduled farm-out in the next few days = 20c+ ... and its still cheap in the grand scheme of things.
That is 1 billion barrels of oil at p50.
Scheduled farm-out in the next few days = 20c+ ... and its still cheap in the grand scheme of things.
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- #100
I think its gone beyond talks, they are in the process of getting the very best deal, which will become evident in the next few days.
The management could face action from the ASX, if they were to continue buying shares in the company knowing full well a farm-out was about to be done. So an announcement was needed.
The management could face action from the ASX, if they were to continue buying shares in the company knowing full well a farm-out was about to be done. So an announcement was needed.
