South China Resources Share Discussion Threads

[krazykid] 31/7/2007 09:52

I'd like to but in AST at the mo and dont want to sell those yet. Waiting for those to zoom or crash!! and depending which way will determine what i can do here :>) Still got a few pennies left in here though.....think we may need another song soon to keep us going........

[figure6] 31/7/2007 07:21

post 9310,Wols is a respected poster here and posting that SCR are saying "working on several agreements" bodes well for a positive rns to lift the share price.Perhaps now IS a good time to average down,IF you're brave.(I would....again....but I am overstretched at the moment).Good luck to anyone who does.

[tippingpoint] 30/7/2007 21:00

Here is the bit from the March results:

Xi'an Institute of Geology and Mineral Resources

SCR continues to search for new opportunities with its strategic Cooperation
Agreement with the Xi'an Institute of Geology and Mineral Resources. The
Cooperation Agreement specifies a right to acquire a 85% interest in any joint
venture established by the parties. Current activities include the joint
evaluation of an area of interest in the highly prospective East Qinling
Mountain Belt, covering an area of interest of approximately 206.73 km sq.
Previous exploration has identified significant coincident copper and molybdenum
geochemical anomalies in the area of interest, which is located 14km along
strike from the word class Jinduicheng molybdenum mining complex. The company
greatly values the alliance with a highly respected central government
controlled geological and mineral research institute.

[tippingpoint] 30/7/2007 20:58

I wonder if anything is happening with Xi'an agreement???

[simon54] 30/7/2007 20:57

tp, yes, I did a good while ago (sorry for the previous crack - couldn't resist the fertiliser reference!). It's not my sort of thing now, since I really have no idea what might happen next, although I wouldn't be surprised to see it effectively used as a shell to develop something or other (perhaps Zhunuo) with a new management and so on. I guess it's a cash play now, and people often enough do very well out of those, but it's not my thing.

[tippingpoint] 30/7/2007 20:52

Simon54,

Have you sold out? I have been watching this and said to myself a month ago I would hazard a buy at 2.5p

[tippingpoint] 30/7/2007 20:45

So good you said it twice wolsters...

Is it worth another crack I wonder...

But what about the fertilizer company? Could they sink us with a demand for payment??

[wolstencroft] 30/7/2007 13:33

650k - Dont think I ever said I'd sold all.

[wolstencroft] 30/7/2007 13:33

650k - Dont think I ever said I'd sold all.

[strow] 30/7/2007 11:37

Wols-are you still holding some in here then?

[nobull] 30/7/2007 11:16

Thanks Wols for that. Hooray.
BTW, have you looked at Morengo, a porphyry Cu/Mo deposit in PNG. Market Cap. is A$51m at current share price of A$0.395, Resource value is $29bn, ownership of resource is 100%, total Capex and finance costs might be $2.4bn (I just doubled the capex as a rough approximation for finance costs: no idea really about what actual finance costs would be). There are in-the-money options outstanding (no idea how many, but probably too many) and the company has just completed the pre feasibility study. Article about it in today's Australian. Have no position in this stock myself. Grades seem low (0.5%) but resource quantity is big (4bn lbs of Cu?). Have been mulling it over as an alternative to this.

[wolstencroft] 30/7/2007 11:13

AC wroite again, this time a bit more personal so I wont post - but I will say he is determined and positive.

[wolstencroft] 30/7/2007 10:40

decided to just ask rather then send song...

reply is, I guess simple public news,

John, Nathan is in Australia at the moment but I can help you out.

Clearly we can't tell you exactly when, but yes we are working on several agreements pertaining to projects and we will make them public once the contractual basis has been finalised and the NOMAD is happy we can announce them.

As you know Due Diligence and Contract negotiation takes some time....we are working as fast as possible.
Kind regards Alastair

[wolstencroft] 30/7/2007 10:34

simon, actually, I'm a bit odd.....

I have tried at least 4 times to find the next Silvercorp and failed (including PACE, Nautilus, South China, I still think Nautilus will be a ten bagger from my initial purchase price of £1). I guess I was just very lucking putting so much into one company and succeeding.

[nobull] 28/7/2007 17:39

TS re 9305 I agree with what you have said re Simon's post and on what you have said re investing/overcommitting to one stock (whether via leverage or otherwise).

Agree to on very worrying times ahead here.

[tonystringy] 28/7/2007 01:41

wolstencroft - 26 Jul'07 - 13:01 - 9296 of 9306

lol!

Bloody brilliant.......send a copy to the co. via email.......I'm sure they'll appreciate it!

[andy] 27/7/2007 23:47

Wols,

Great song, LOL!

[tonystringy] 27/7/2007 23:13

simon54 - 27 Jul'07 - 21:02 - 9302 of 9304

Good post simon!

Non of us should blame ourselves for the decisions of others simply because we may have influenced them. So long as we have posted our honestly held views and not tried to mislead anyone in any way. The important thing is to be honest.

Anyone who buys shares in company (or trades via leverage) does so in the hope of making money without having to work for it. It's always a calculated gamble and if one loses then it's one's own fault.

Those posters who do seek to mislead, don't give a sh*t anyway.

All the best and be careful all.....these are worrying times.

[strow] 27/7/2007 22:08

Thanks simon

[simon54] 27/7/2007 21:02

Hi folks :-)

I thought I'd let the dialogue of yesterday 'settle' before adding a couple of comments.

strow - IMV, you never said anything knowingly false, nor did you ever express optimism without seeking to support your view. Fair enough, in my book. Events might have turned out otherwise, and then no one would be critical of your optimism. I think I do understand the genuine expression of optimism even at the very last, before the tipping point when one's judgement changes. It's inevitable, perhaps, that we may assert our reasons for holding on most forcefully when we feel the pressure to change that judgement. Anyway, I think you're an honest bloke and I wish you better fortune than you've experienced here.

wols - you are unusual in declaring your purchases or sales as openly as you do. I respect you very greatly for that (or maybe I just think you're a bit odd! ;-). I don't think I was ever quite as clear as you have been, though I'd hope in general to have been honest in what I said.

Guys, we all lost more money on this than we're inclined to feel comfortable about. I've posted much, much less on shares that I actually hold since this went wrong, haunted by the feeling that I said too much about SCR, maintained too much optimism that things could be salvaged, and possibly influenced some others into decisions which led to them losing money. I know that I never sought to manipulate the share, and never advised anyone to buy it, but I guess that when you're talking amongst 'cyber-friends' you can forget that your optimism may influence others. Anyway, I still think about that.

The fact is, though, that we all took the risk because we calculated we could make substantial gains by doing so. As it turned out, some of us made substantial losses.

I have no complaint, therefore.

Regards

Simon

[nobull] 27/7/2007 20:33

The CEO is based in the "Australian office".

[figure6] 27/7/2007 16:41

More buys than sells today so thats an improvement.Maybe SCR has finally hit bottom!

[krazykid] 26/7/2007 13:27

yep but what if you were in GGG as well??? :>) Worse than that, UEP, hope noone here is in that today!

I do need to pull you up on one bit though Wools....(Come on guys, cheer up!)