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It has moved to the pinks but trading is still suspended.
http://www.pinksheets.com/quote/quote.jsp?symbol=cesv
Well that is it then, sad. De-listing and everyone resigned. And the Chinese wonder why foreign investors don't trust them.
My guess is the lawsuits won't amount to much of anything for the investors. But, they should be a serious wakeup call to CESV. Time to clean house and get back to business.
Anyone know what is going on with this trading halt? eom
Anyone know what is going on?
SSKILLZ1 - LKAI
Thanks for pointing this one out. Very interesting microcap miner. I'll be watching it closely.
None of this is really surprising. Sun Li had way too many shares and now this development makes it clear that percentage will come down, which is a good thing in the long run. Also, they were planning a large PP for some time. I'm actually surprised it is not bigger.
In a nut shell, the flood gates have opened, which many expected. The big boys can now buy as much as they want and cheap.
Based on all the developments, it is probably going to take a year to consolidate all the share issuing. I'm expecting the general market to stink it up in 2006 so perhaps it is just as well. Meanwhile, CESV will just keep cranking out eye-popping numbers and more and more value investors will flock here. The next year is all about building a base for lift-off, no pain no gain. Just my IMHO.
Thanks beigle, sounds about right. eom
With the recent trades, what is the float now?
A lot of selling into the strength. The gap might get filled before we move forward.
Happy holidays to all
-coffee
Bobwins-
What are your thoughts on Terra Energy (TTR.V) at this stage? Do you still own shares?
Thanks-
coffee
Gotten pretty quiet, anyone else still holding?
I know how you feel beigle, wish I knew what is going on.
How about this quote:
"As a result, we expect that our current quarter, which represents the final quarter of our fiscal year, will be the strongest quarter in the Company's history."
I still think this is the right company, in the right sector, at the right time, regardless of the way it is trading. Time will tell if I am correct.
Re: NWD
Not sure whether people still follow this one here.
New Dragon Asia Completes $6.0 Million Private Placement
http://biz.yahoo.com/pz/050712/81541.html
Over 11 now, >400k traded. eom
Lift off!!!!!
Lots of good posts here. I can't explain the recent action, but I still do not see anything to be concerned about. I am quite pleased with the company's progress so I intend just to let it ride.
Keep posting the info, we need an audience.
You are right Shikari, those posts were pointless. The charts are saying everything that needs to be said.
good luck-
UW: XEC
One of my top picks. Hoping for more cheap shares.
cheers-
patentlaw-
The split was planned when the stock was well over 10. The idea was to increase liquidity due to the tiny float. Right now it looks like a bad idea and perhaps it will be delayed.
For your second question, from the filings:
"On February 1, 2005, The Company acquired the remaining 35% interest in Starway Management Limited from Sky Beyond Investments Limited by issuing a total of 7,807,569 shares of common stock of the Company"
In essence, they just completed the purchase of Starway. Not sure what is confusing here. Considering the benefit of owning Starway 100%, this dilution was well worth it.
I don't know of any $90M loan. The company has no significant debt at the moment.
hweb2-
CESV is not paying taxes yet.
patentlaw-
Can't say that I understand your post about CESV. What dilution? What red flags?
Considering you sold after holding only one hour, perhaps you should revisit your investing strategy.
Power Crunch Deepens as Heatwave Bakes China
CHINA: July 8, 2005
BEIJING - Searing temperatures across booming China have driven up energy demand, exposed an over-reliance on coal and are taking a toll on industry, Xinhua news agency said.
Power shortages this summer should be "much more serious" than last year -- when China faced its worst energy crunch in two decades -- a source from the State Electricity Dispatching Centre were quoted as saying.
"Many experts attribute the power shortage to the skyrocketing economy, especially high-power-consuming industries," Xinhua said in an overnight report.
China's unbalanced energy structure was also to blame, because excessive reliance on thermal power meant coal shortages could "immediately lead to a terrible power generation breakdown", Xinhua said.
China has poured billions of dollars into expanding its power transmission and generation capacity, but the national power system is forecast to struggle to meet demand until 2006-2007.
Generators nationwide are expected to crank out 25 to 30 gigawatts less power than consumers want to use this summer with no end to the crippling heatwave in sight.
Temperatures were expected to stay above 35 degrees Celsius (95 degrees Fahrenheit) across most of China over the next few days, especially in major cities like Beijing and Shanghai, which saw its hottest day in 70 years on Sunday when the mercury hit 39 C (102 F), Xinhua said.
The heat had forced the suspension of construction projects in many cities and caused water shortages, fires and traffic accidents, it said.
On Monday, almost 100 people in Shanghai were poisoned when toxic ammonia burst from a steel container that exploded after baking for hours under the sun, the China Daily said.
"The local production safety bureau came to the conclusion the blast was caused by the high temperature making the substance expand," the newspaper said.
NIGHT SHIFTS
Power consumption in Shanghai had set three records in a week and the local grid was already stretched to capacity, Xinhua said.
Premier Wen Jiabao has called on government officials to set an example by setting air-conditioners at 26 C or above and abandoning Western-style suits at meetings. Many cities have limited power use by big consumers and told factories to shut down or introduce night shifts to cut electricity demand.
"The power limitation policies apparently affect the economic results of many industries," Xinhua said without elaborating.
China was rushing to expand and guarantee power supplies and had urged local governments to set different electricity prices for different times of day, Xinhua said.
Beijing would also reform the market for coal for electricity generation use to "solve the contradiction between the soaring power consumption and insufficient coal supply", Zhao Yuzhu, deputy head of the State Electricity Dispatching and Telecommunication Centre, was quoted as saying.
The heatwave had also taken a toll on agriculture, extending a drought in parts of eastern, western and central China, Xinhua said.
"Farmers have had to postpone the time for the autumn sowing, which should be done after the summer harvesting. They are worried about missing the right season," it said.
REUTERS NEWS SERVICE
The company is just a printing press. The float is now >5 million shares, total outstanding is now >25 million.
This statement was buried in one the recent press releases "Irwin Energy is also pleased to announce it has concluded and received funds for a private placement arrangement with a private investment firm for the gross amount of US$500,000 before legal and advisory fees". Who knows how many millions more this will add.
Thanks beigle for the update. I agree, now that the stock has tanked, the split is pointless and could even be detrimental. The lower stock price also means a lot more shares will have to be issued for acquisitions.
drbob,
The way CESV has been trading it seems the 8K info is old news to those 'in the know'. My guess is they will keep pounding it down to 8, but then again, WTF do I know? I am also having trouble seeing why it should be hammered after a few resignations. Turnover is just a part of business.
How many stocks are there with a listing upgrade, added to 2 indexes, rapid growth, 55% net profit margin, forward P/E of 8, no debt, lots of cash, and a tight share structure?
Ask now under .20, I think that is a first. You know you have a winner when it goes in the opposite direction of all other OG stocks.
beigle-
What is the latest from the transfer agent?
And another down day so far. I'm shocked!
Shares just keep coming out of the woodwork. Wish I knew what the sellers are buying. If they have more going for it than CESV, I would certainly like to know what about it.
Terra does need to do a better job of telling their story. Website is not even finished, press releases are not hitting US news wires, etc... Obviously they are a very new, but investors are not going to buy if they don't hear about the company.
There is a new analyst report from Wolverton on the Terra website. Very detailed, lots of good info. They are very positive on Terra.
Looks like we are going back to the 8-9 range. Appears no amount of good news matters.
Where are all these shares coming from?
Bobwins-
Thank you for the information. Both Diaz and Terra look very good, need to spend more time on some DD. I have the Iradesso report as well with lots of info.
Best,
coffee
Bobwins-
You have mentioned a number of Canadian O/G juniors lately, such as TTR, DZR, RGY, and CZE. Of these, which do you like the best and why?
China says coal imports up 59 percent as energy demand soars
China's coal imports soared 59 percent to nearly 10 million tons in the first five months of this year as demand for energy to drive a booming economy surged, the government announced Friday.
Coal consumption is expected to grow even faster from June to August as power plants struggle to meet electricity demand to drive air-conditioners during an unusually hot summer.
Coal imports in the month of May nearly doubled compared with the same month last year, rising by 98.5 percent to 2.4 million tons, according to date released by the Customs General Administration.
MikeS-
Yeah, I wanted TGB as well. One more quarter and they'll be there. I put in NTO as a substitute.