I was going to procrastinate, but decided to put it off.
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I predict the stock will close down 1 cent. 51 cents.
I wonder how may people, insiders, etc. were short on major potash stocks when they made that announcement. Crash the market, then cover.
That seems to jinx the stock, every time it wants to go it gets pushed back the following day. We don't have the volume, so I think we are flat tomorrow or down.
Kinross and the Aurelian property in Ecuador
Examining the Depths of Ethiopia’s Corruption
http://www.ipsnews.net/2013/06/examining-the-depths-of-ethiopias-corruption/
ADDIS ABABA/LONDON , Jun 16 2013 (IPS) - Ethiopia may be one of the fastest-growing, non-oil producing economies in Africa in recent years, but corruption in this Horn of Africa nation is a deterrent to foreign investors looking for stable long-term partnerships in developing countries.
“Bankers, miners and developers presenting projects to investment committees in countries that fare badly in corruption rankings frequently struggle to get investment. Corruption raises red flags because it makes local markets uncompetitive, unpredictable and therefore largely hostile to these long-term players,” Ed Hobey, the East Africa analyst at the political risk firm Africa Risk Consulting, told IPS.
Not Ethiopia, but that country has political risks, just like other developing or 3rd world countries.
Political risk is out biggest enemy.
I hope the Ethiopian government doesn't play games with the mining license for AAA. My concern is they hay hold that as ransom for a bigger royalties.
Reason I say this, I seen a similar thing happen to another stock, it was a gold stock with a decent economic deposit.
Globe says competitive worries hit Allana, IC Potash
2013-08-22 07:53 ET - In the News
Shares issued 276,915,751
AAA Close 2013-08-21 C$ 0.475
Also In the News (C:ICP) IC Potash Corp
The Globe and Mail reports in its Thursday edition junior potash companies, already suffering from tight financing conditions, will start to feel more pain following an industry shakeup that has increased competition. The Globe's Brenda Bouw writes dismantling of the world's largest potash oligopoly last month has already hit stock prices for potash companies, and is expected to lead to a drop in potash prices. Meanwhile, BHP decided this week to push ahead with its huge Jansen project in Saskatchewan. Some of the slightly lower-risk companies are said to include Allana Potash, which has a property in Ethiopia expected to begin construction next year, and IC Potash, which has global fertilizer giant Yara as a 20-per-cent investor. IC Potash shares are down 40 per cent since late July, and Allana shares have fallen about 18 per cent. Richard Kelertas, senior vice-president corporate development at Allana, says the shakeup in the industry will "cull the heard," but could mean a stronger market down the road. "This is a quasi-black swan event, it's not a killer event," Mr. Kelertas said of the industry changes. "I'm not saying it's all rosy. ... But we think it will turn out to be a white swan for us."
500 shares of AAA is a huge difference than 35,000. What do you think? Silly question you asked.
IMO I still see the stock trending down, I still believe we will hit the low 30's. Then up from there. I hope.
New short position, up from last month:
2013-08-15 1,498,529
Short postions for the TSX and TSX-Venture are reported twice per month, as of the 15th and last day.
I think high close a stock may be a Canadian term, as I learned that term pretty quick when I first got into penny stocks in the 90's. Pennies like AAA are prime ground for manipulation, but no where are bad as the USA pink sheets. They are the scummiest stocks around.
I am sure glad AAA is on the TSX and not solely on the pinks or OTC.
If AAA was only on the OTC, I would never touch it.
235 dollars worth of AAA stock? Oh ya, less commissions. High closed is the term that pennies players know. I have know this term for 17 years.
Also the exchange can go after people who high close stocks.
http://www.investopedia.com/terms/h/highclose.asp
Definition of 'High Close'
A tactic used by stock manipulators; they make small trades at high prices during the final minutes of trading to give the impression that the stock did very well.
Investopedia explains 'High Close'
Since the closing prices are widely quoted, stock manipulators hope to create a buzz on a particular stock in order to attract investors to the it.
Someone bot a 500 shares of AAA at the last minute to close it in the green, otherwise it would have been unchanged. You never heard of high closing a stock before?
Good grief.
See:
http://www.investopedia.com/terms/h/highclose.asp
Soemone high closed the stock at the last minute:
Time X Price Chg Vol Buyer Seller Markers
15:59:30 T 0.47 0.005 1,000 1 Anonymous 124 Questrade K
Maybe ICL will buyout AAA. I would love that.
One thing I am concerned about is political risk. My worry is that the government **could** play games with the mining license to get a better deal on royalties.
I seen this in 2 stocks, games the governments played with the companies. I hope all goes well.
Not saying it will happened, but I don't trust the governments. Or any third world or developing country.
AAA short position is not that much, 1.2 million I believe, I find it funny being in penny stocks since 1996, people always think the shorts are going to get wasted, but in most cases, they do more DD than long investors.
AAA short position as of July 31, 2013
2013-07-31 1,206,929
2013-07-15 532,529
Best external hard drive?
The reason I say low 30's (possibly lower) is because of the general market conditions, the summer doldrums (May to Oct), and now the fiasco in Russia. The financing I am concerned about with potash stocks being out of flavor leaving a nasty taste in the players mouths, especially now with China basically setting the price of potash.
With people worried about potash, I still see low 30's before major news. I hope financing goes well after this shakeup in the market.
Potash stocks bargain bin: for risk-lovers only
http://www.siliconinvestor.com/readmsg.aspx?msgid=29034521
Allana’s Ethiopian project gives it a freight-cost advantage to China and India, and the company has $20-million in the bank, Mr. Churchill notes. “The company has two to three years of runway and can weather this storm.”
How a determined China broke up a global fertilizer cartel
http://www.siliconinvestor.com/readmsg.aspx?msgid=29031973
When Uralkali pulled out of the marketing group today, it accused partner Belaruskali of cutting side deals. But the first order of business at Uralkali’s new trading group was picking up an option to deliver orders of potash to, you guessed it, China.
The short sellers were right. There is an article in the Globe and Mail, I don't subscribe to it, but it reads:
Potash investors should have seen crash coming
http://www.allvoices.com/news/15093747-potash-investors-should-have-seen-crash-coming
All potash stocks are hit, producers and explorers. Question, what will the share price be tomorrow? I am not buying any, but it could rocket back up, or fall further.
Just holding here. I still think we could see the low 30's before major news, like financing with no new stock issued would be nice or buyout (I prefer that).
Just a gut feeling.
How will (if) the news in Russia affect AAA?
Something to ponder (Don't shoot the messenger):
See:
http://www.stockchase.com/company/find
Short position up, some think the stock is going back down:
2013-07-15 532,529
2013-06-30 295,929
We have a lot of stumbling blocks before 1 dollar.
1. We are still in silly season where stocks trade sideways.
2. Potash is out of flavor, not like it was back in 2010. All the potash juniors I follow were hit hard when the bubble burst.
3. Penny stock market in general sucks at the moment.
Thanks, going to drive me nuts trying to find that song.
Can anyone please name this intro song, its a talk radio station and after beaks, the play a portion of a song before the show starts again, problem, no words. I do recall hearing this before, sounds like an 80's song.
Can you please help?
http://screencast.com/t/F5PnzhWf1hl8
Strange:
We are in the silly season for stocks. Most go down or trade sideways. It could go down again. Nothing surprises me with this stock. Silly season starts May ends usually in Oct.
USB3 to SATA Cable tip
Anyone looking for a great microphone at a very reasonable price should look at this one. In my opinion, its the best mic for the price. If you do Skype or any other things that require a microphone, you will be blown away by the quality of a good USB mic.
Here is my experience with the USB Samson Meteor Mic
What do you think caused this, unexplained event.
Horrific sounds sets off car alarms
http://youtu.be/KoOfLXID6qw
No money all tied up. I hate seeing these opportunities pass me by.
I bet some people made some good coin flipping this stock, buy up at 100,000 shares in the 37-40 cent range, dump them in the 60 cents range. Profit of 21,000 dollars.
I didn't trade it, but I bet a lot of people did.
Buy out offer? Just guessing. I hope so!!!!