posted
Prophet or anyone else. I was wondering if any of you guys have any info on Falcon Ventures (fix - tsxv).They are doing alot of drilling in the upcoming weeks. MAnitoba, Greenland, Sandy Cove Newfoundland. I live near Sandy Cove and have heard some good things about surface samples found. I am new to this and was wondering how there charts, O/S, float, etc. looks.
Thanks
Posts: 18 | From: St. John's, Newfoundland, Canada | Registered: Jun 2004
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posted
I will try to get back to you on FIX later today. A broker in Edmonton is talking about a West Newfoundland play called Parson's Pond. Vulcan Minerals VUL. It is an oil/gas play in West Newfoundland on shore. They supposedly got a pumpjack in there, had to get it specially built in Ontario. The stock had a run earlier this year, settled back on delays.Things are getting ready to go again. I will get more info.
Posts: 268 | From: Edmonton, Canada | Registered: Feb 2004
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quote:Originally posted by northernprophet: I will try to get back to you on FIX later today. A broker in Edmonton is talking about a West Newfoundland play called Parson's Pond. Vulcan Minerals VUL. It is an oil/gas play in West Newfoundland on shore. They supposedly got a pumpjack in there, had to get it specially built in Ontario. The stock had a run earlier this year, settled back on delays.Things are getting ready to go again. I will get more info.
Thanks, any info will be appreciated!
Posts: 18 | From: St. John's, Newfoundland, Canada | Registered: Jun 2004
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HasmirFenring
unregistered
posted
Vul.v has a good-lookin chart imho. A nice bid/ask spread as well but with such low volume it's not a big deal I don't think...What is the general consensus on such low-volume stocks...They worry me a bit because if anything goes wrong it is easy to be forced into selling your shares for much less..
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posted
First, VUL. If you want more info, go to stockhouse and look at the June 15 post "Dave Pescod recommends Vulcan" . All the info is there. VUL is a high risk play. Their well will cost $500,000 to drill and if they miss, it will be a big setback for such a small company. I do not own any, and am just following things now.
As for Falcon, FIX. There are a very small amount of shares out. A little over 10 million. FIX is known as an illiquid stock, not much bid, not much up for sale, few trades. I do not know any of the mgmt. , so I can not comment on them. They have seemed to be on a bit of a property acquisition spree lately. Results for one of their programs is due on july 10, and the stock is down from its recent highs. If you heard some good news, it is probably not a bad buy at current prices. Also, with this few shares out, if things don't work out, it won't get rolled back or restructured for a couple of years at least. But remember, the resource sector is hot and if the property had great geological merit, the vendors may have been able to do a deal with FNX mining or even a major. Lots of properties have a few good or even spectacular surface samples. One of the things I watch is financings. Real companies with real properties attract real money. To properly explore their properties they will need at least $1,000,000. The diamond play in N. Manitoba has the potential to get much bigger. That may be their best property.
posted
Re: Volume. Most Cdn. pennies have low volume. Low volume is not bad at the bottom of the cycle when the stock is being accumulated. I do stay away from stocks that trade infrequently or where the bid/ask has a 40% difference. But many successful pennies have had what is called "dormant bottoms".
Posts: 268 | From: Edmonton, Canada | Registered: Feb 2004
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