While we wait….
While we wait for Oromin to get their ducks in a row, one stock I think will do well in the next little while is Gleichen Resources (GRL on the Venture). I mentioned it in a comment a week or so ago and now feel it is worth a full post. It has risen form low of 9 cents in December to a close today at $.49, with a 19.5% gain on the day! I hear they are looking for a gold project and have $4.2 million in the bank to acquire one. I have owned this stock nearly as long as Oromin and at today’s close it is worth more in dollar value than my shares in Oromin. It is the best groomed shell I have ever seen; they have taken years to pull shares out of the market and accumulate through Jones Gable and more recently Canaccord. They did a modest 2 old for 1 new rollback and financed 10 million shares which have never returned to market. The insider holdings are about 6 million shares with Jones and Canaccord accumulating about the same over the last few years. These, added to the 10 million share placement, created nearly 22 million shares in friendly hands out of a 28 million share float by my estimate. Please take a look but as always remember I’m not a licensed broker and cannot recommend people buy or sell securities. Please do your own due diligence. 🙂
I have been thinking for a while of opening a new blog for any of our other holdings and heads up situations and will hopefully have it up by the end of the weekend. Please stop by with comments and feel free to suggest other companies you may own to help us recoup some of our hard-earned dollars after the gut-wrenching turmoil of the last year. (While we wait).
penniestodollars.wordpress.com
warmest regards
caliche
Caliche:
It would have been nice if you gave us this tip at 9 cents in December. Then maybe
all the waiting with OLE would not have been so painful…
Have a good weekend…
Take care,
G1
Hey G1… i wish i did too .. but at the time i was paralized and didnt know which way was up. My cost is .42 on this deal and i wish i loaded up at .09 myself. the stock has come back to life and is the only one i m even close to even on right now. i will try to post more about it on the sister blog .. i dont want to take away from the oromin page
have a great weekend yourself!
caliche
Click below to see the performance of my favorite 2 junior stocks….Exeter and Oromin…..both began 2005 at similar stages and notice from mid-2008 to late 2008 how they tracked a similar performance. Both were in the process of formulating their first resource estimates on their major projects (Exeter – Caspiche and Oromin – Sabadola) this year and both came out with their estimates in the last few weeks. Notice the reaction in share prices. Exeter communicates at least twice a month with press releases, their IR guy calls me after every press release to ask if I have any questions, the President of Exeter posts webcasts from his office on their website giving updated presentations and Exeter makes at least two conferences every year where their corporate presentations are webcasted. Oromins IR, in the mean time does umm…..ahh…….ummm …..nothing yet when I ask them how they think their IR program is they say it is top notch and they are on top of their game.
Share prices don’t lie and are the great scorecard of investing. The contest between these two promising companies was won before they even got out of the starting gate. They both have excellent properties and both will reach 10 million ounces. Only one however will reward their shareholders with a much higher stock price. I will hold both because I am stubborn and I will not stop being critical of management until they turn this ship around.
Depth By Price
Bid
Orders Volume Price
1 3,000 0.89
1 8,000 0.88
2 22,500 0.87
3 44,500 0.86
1 4,500 0.82
Ask
Price Volume Orders
1.00 1,000 2
1.05 2,000 1
1.06 4,500 1
1.07 2,500 1
1.08 2,500 1…Here is Oromin depth at 8:22..It sure looks good after the battering it took?I must admit we never bought any lately.But was luckey enough to able to hold on to what we have.Bring on the news.dsh
Depth By Price
Bid
Orders Volume Price
2 22,500 0.91
1 8,000 0.88
1 40,000 0.86
1 1,000 0.81
2 6,000 0.80
Ask
Price Volume Orders
0.99 5,000 1
1.00 500 1
1.05 2,000 1
1.15 5,000 1
1.25 5,000 1…Morning depth 6:34.dsh
Last 4 trades today
Time X Price Chg Vol Buyer Seller Markers
11:00:01 T 0.94 0.03 1,500 46 Blackmont 81 HSBC K
10:52:04 T 0.94 0.03 25,000 83 Research Cap 85 Scotia K
10:30:49 T 0.92 0.01 500 7 TD Sec 81 HSBC K
10:30:49 T 0.92 0.01 500 44 Jones Gable 81 HSBC KL…..Last five trades to 8:26 Vancouver time!!dsh
Last 10 trades today
Time X Price Chg Vol Buyer Seller Markers
14:14:15 T 1.00 0.09 1,500 46 Blackmont 28 BBS K
14:14:15 T 1.00 0.09 500 46 Blackmont 89 Raymond James K
13:13:48 T 0.96 0.05 1,000 2 RBC 28 BBS K
13:02:31 T 0.91 0.00 6,000 83 Research Cap 7 TD Sec K
12:47:09 T 0.95 0.04 8,000 83 Research Cap 1 Anonymous K
12:42:57 T 0.95 0.04 2,000 33 Canaccord 1 Anonymous K
12:41:43 T 0.95 0.04 4,500 83 Research Cap 1 Anonymous K
12:38:26 T 0.95 0.04 5,000 79 CIBC 1 Anonymous K
12:18:08 T 0.91 0.00 500 33 Canaccord 58 Qtrade K
11:57:18 T 0.95 0.04 5,500 46 Blackmont 1 Anonymous K…Last 10 trades on Vancouver Exchange..dsh
Read that C C Global Investments has authorized $15 million to build a gold refinery in West Africa (Ghana);;;;This should make the Ole gold in Senegal more valuable , should it not , as it will lower expenses for whoever does the mining..Comments ??
The gold refinery in Ghana will have the capabilty to refine 300 kilograms daily….Construction to start Q-4 , ’09….Sounds like a big one to me…..Will need gold also provided by other places ——Like Senegal for one !!
Depth By Price
Bid
Orders Volume Price
1 1,500 1.00
1 2,500 0.97
1 2,500 0.96
1 10,000 0.93
1 12,000 0.92
Ask
Price Volume Orders
1.07 2,500 1
1.08 4,500 2
1.15 5,000 1
1.25 5,000 1
1.29 2,000 1….Vancouver depth 6:37??dsh
Last 9 trades today
Time X Price Chg Vol Buyer Seller Markers
10:13:43 T 1.08 0.12 2,500 83 Research Cap 28 BBS K
10:13:43 T 1.08 0.12 2,000 83 Research Cap 27 Dundee K
10:13:43 T 1.07 0.11 2,500 83 Research Cap 28 BBS K
09:55:06 T 0.97 0.04 300 44 Jones Gable 2 RBC E
09:40:16 T 1.00 0.04 3,500 83 Research Cap 46 Blackmont K
09:36:02 T 1.00 0.04 1,500 79 CIBC 46 Blackmont K
09:33:28 T 1.00 0.04 1,000 79 CIBC 59 PI K
09:32:27 T 1.00 0.04 9,000 1 Anonymous 59 PI K
09:30:45 T 1.00 0.04 1,000 1 Anonymous 44 Jones Gable KL…Last Vancouver trades..dsh