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Wednesday, February 10, 2010
SSE.V
Looks promising... I'm putting in a bid for a double down... being the week is coming to a close I may be able to average in a bit better.
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GLTA Lostoutwest
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CXX.TO
Nice volume today looks like a higher low setting in... resistance is .24 to .26 with support holding .19 at latest lowest low or higher low. depending on your perspective.
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VGN.V
Everything is not always as it seems, I've heard many stories, but when dealing with sentiment pricing, a good story can work wonders, especially if there is some fundamental dynamics that support the sentiment price movement.
Taking a look at Level II, I can see that there is NO - NO - NO strong support below... .14 cents.
This means, that unless there is some devastating news, the downside is............. .14 cents. Dynamically speaking, sellers couldn't panic sell if they wanted to.
A definitely bullish dynamic, as bulls can accumulate with little fear of a downside... I suspect many people are quietly taking advantage of this dynamic without even knowing why. It just stops selling for so long a period, it returns to up in frustration. I see sellers moving to the gap and taking the bid, but it seems to be waining, so I would suspect that the supply, as far as traders go, is about over, and we should test the resistance to institutional sellers within 3 weeks as the bulls come back to the bid, or, at least for now that seems to be the cycle.
Considering the low float, and low debt, as a matter of Market motivators... The elimination of an R/S is removed, and with the low debt, and cash flow royalties... (cash flow)... Dilution is not likely if things move along slowly, and a financing may be a signal of something big.
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Taking a look at Level II, I can see that there is NO - NO - NO strong support below... .14 cents.
This means, that unless there is some devastating news, the downside is............. .14 cents. Dynamically speaking, sellers couldn't panic sell if they wanted to.
A definitely bullish dynamic, as bulls can accumulate with little fear of a downside... I suspect many people are quietly taking advantage of this dynamic without even knowing why. It just stops selling for so long a period, it returns to up in frustration. I see sellers moving to the gap and taking the bid, but it seems to be waining, so I would suspect that the supply, as far as traders go, is about over, and we should test the resistance to institutional sellers within 3 weeks as the bulls come back to the bid, or, at least for now that seems to be the cycle.
Considering the low float, and low debt, as a matter of Market motivators... The elimination of an R/S is removed, and with the low debt, and cash flow royalties... (cash flow)... Dilution is not likely if things move along slowly, and a financing may be a signal of something big.
GLTA Lostoutwest
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VGN.V - cut and paste
GREENCASTLE RESOURCES: ON THE VERGE OF ANOTHER DISCOVERY IN SASKATCHEWAN?
www.BullMarketRun.com
Jan. 26, 2010
Just over six years ago, Greencastle Resources (VGN, TSX-V) hit a heavy oil zone at its Primate property in west central Saskatchewan. The company subsequently sold the property for a royalty, and since then nearly $9 million has flowed into the Greencastle coffers. Not a bad pay-off for an exploration investment of only about $1 million.
Today, Greencastle President and CEO Tony Roodenburg is searching for Primate Two, but this time the royalty option is off the table and the target is medium gravity oil in the upper Shaunavon and Mannville formations of southwestern Saskatchewan near Cabri (a potential land package for Greencastle that is 12 times the size of the discovery area at Primate). Roodenburg has had a good taste of what an oil discovery can do for a company. He’s more experienced, more confident, and abit more aggressive.
“This time we won’t be selling the property for a royalty,” Roodenburg told us at the recent Vancouver Resource Investment Conference. “We think we’ve learned a little bit and we’ve got a better Rolodex of people to work with that can operate. We have good partners.”
Greencastle reported this morning that it has completed a two well drill program at the Cabri and Boggy Lake projects in southwestern Saskatchewan with its partners Centaur Resources, 611890 Alberta Inc., and Bellport Resources. Both wells have been cased for testing and evaluation of potential horizons. The release was short on detail which is not surprising - in the early stages of this kind of grass roots exploration, it’s smart to keep your cards close to your chest for competitive reasons as additional lands may need to be tied up. With the completion of the testing on these first two wells, Greencastle will earn a 50% working interest in a six-section land package (3800 acres). It has an option to earn 50% in another six sections by drilling two additional test wells which Roodenburg told us in Vancouver he plans to do. He’s cautiously optimistic and pleased with the group he’s working with.
“The play was brought to us by a couple of guys who have an impressive amount of project experience,” said Roodenburg. “They did a lot of regional work on what sands are productive. They studied a lot of old drill holes that are in the government data base. I know their team spent a lot of time assembling the package - they bid on a lot of land, some they got, some they didn’t. We’re lucky we happened to be in the right place at the right time with cash and cash flow.”
Trading at just a small premium to its cash value, Greencastle is extremely attractive from a risk-reward ratio and has huge upside potential if its southwestern Saskatchewan oil play succeeds as Primate did six years ago. Greencastle also has some highly prospective gold properties on the Battle Mountain trend in Nevada, a coal property in Manitoba near a discovery last year by Westcore, and shale gas interests in Quebec. At BullMarketRun.com, we believe there’s a strong chance Greencastle will spin off its gold properties in the near future to unlock their real value and give shareholders, in effect, a dividend. Greencastle is a core holding in the BullMarketRun.com portfolio and it’s one we believe will generate superior returns in the weeks and months ahead.
GLTA Lostoutwest
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www.BullMarketRun.com
Jan. 26, 2010
Just over six years ago, Greencastle Resources (VGN, TSX-V) hit a heavy oil zone at its Primate property in west central Saskatchewan. The company subsequently sold the property for a royalty, and since then nearly $9 million has flowed into the Greencastle coffers. Not a bad pay-off for an exploration investment of only about $1 million.
Today, Greencastle President and CEO Tony Roodenburg is searching for Primate Two, but this time the royalty option is off the table and the target is medium gravity oil in the upper Shaunavon and Mannville formations of southwestern Saskatchewan near Cabri (a potential land package for Greencastle that is 12 times the size of the discovery area at Primate). Roodenburg has had a good taste of what an oil discovery can do for a company. He’s more experienced, more confident, and abit more aggressive.
“This time we won’t be selling the property for a royalty,” Roodenburg told us at the recent Vancouver Resource Investment Conference. “We think we’ve learned a little bit and we’ve got a better Rolodex of people to work with that can operate. We have good partners.”
Greencastle reported this morning that it has completed a two well drill program at the Cabri and Boggy Lake projects in southwestern Saskatchewan with its partners Centaur Resources, 611890 Alberta Inc., and Bellport Resources. Both wells have been cased for testing and evaluation of potential horizons. The release was short on detail which is not surprising - in the early stages of this kind of grass roots exploration, it’s smart to keep your cards close to your chest for competitive reasons as additional lands may need to be tied up. With the completion of the testing on these first two wells, Greencastle will earn a 50% working interest in a six-section land package (3800 acres). It has an option to earn 50% in another six sections by drilling two additional test wells which Roodenburg told us in Vancouver he plans to do. He’s cautiously optimistic and pleased with the group he’s working with.
“The play was brought to us by a couple of guys who have an impressive amount of project experience,” said Roodenburg. “They did a lot of regional work on what sands are productive. They studied a lot of old drill holes that are in the government data base. I know their team spent a lot of time assembling the package - they bid on a lot of land, some they got, some they didn’t. We’re lucky we happened to be in the right place at the right time with cash and cash flow.”
Trading at just a small premium to its cash value, Greencastle is extremely attractive from a risk-reward ratio and has huge upside potential if its southwestern Saskatchewan oil play succeeds as Primate did six years ago. Greencastle also has some highly prospective gold properties on the Battle Mountain trend in Nevada, a coal property in Manitoba near a discovery last year by Westcore, and shale gas interests in Quebec. At BullMarketRun.com, we believe there’s a strong chance Greencastle will spin off its gold properties in the near future to unlock their real value and give shareholders, in effect, a dividend. Greencastle is a core holding in the BullMarketRun.com portfolio and it’s one we believe will generate superior returns in the weeks and months ahead.
GLTA Lostoutwest
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Grandich
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Markets
The open Wednesday... let's see how we do.
45 min into the day.
Rumor has it that online traders control the opening,and bid up while institutional holders control the close and sell the opening gap.
Not as bad as it could have been.
GLTA Lostoutwest
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Tuesday, February 9, 2010
Markets
The Markets are looking relatively good today (Tuesday), but I would like to see a Wednesday bereft of selling. It looks like more downside, the index TO and CDNX charts in the favorites are testing longer term trend lines, and if they hold it will likely run to a double top for the end of April go away in May. However a gauge for the rest of the week falls into Wednesday. If we have a good Wednesday, things may carry over into next week
I didn't see a lot of what I would call a lot of regular type on line traders active in my watch list, more likely institutional players setting up the crowd for Wednesday. Most of the volume came late in the morning signaling institutional influence IMOP.
It is a wait and see.
GLTA Lostoutwest
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