Khan Resources Incorporated: Speculative trade now closed
Print This Post
|
Email This Page:
Topic: Uranium Mining Stocks — August 27th, 2007
During the turmoil on the 17th August 2007 we bought some more shares of Khan Resources Incorporated for $1.70. The purchase was made as a speculative trade as Khan announced that they had a problem with license 9282X as it was considered to be invalid by the powers that be in Mongolia.
We were of the opinion that the management team at Khan would resolve this problem and therefore we went against the flow of selling and made an investment.
We have no new news to offer you but the stock price has started on the road to recovery. We still have confidence that it will continue its recovery and regain its former higher trading price.
Today we decided to sell at the higher price of $1.96, in order to close this position. This gives us a profit of $0.26 or 15.29% in 10 days. We are happy to take this profit as it was generated over a short time span. The downside could have been that the stock did not recover so quickly and we would have had to hold Khan for longer. That’s not a problem for us as we like the stock very much and still hold their shares as part of our core holding in uranium stocks.
From time to time we will make short term trades such as this so stay tuned but don’t place too much of your funds into any one trade and as always, spread your risk over a number of stocks and only use your ‘gambling’ money on this sort of trade.
Stay calm things are on the up.
Khan Resources hits the come back trail
Uranium News From Australia and Mongolia
Khan Resources Incorporated: Up 25% in a Day!
Khan Resources Incorporated Update
Khan Resources Inc: An upside breakout!
|
|
Korrigenda:
Of course, not 7 Mio. pounds have to be devided but 7 billions. Excuse.
Comment by Hans Georg Lips — August 29, 2007 @ 6:21 pm
Martin Quick is in the process of resolving the issue but we probably won’t be seeing anything new until the end of September. I bought more shares @ $1.25 and will probably be holding it since the current situation isn’t as bad as most investors think. Consider this a mega discount price (it’s a still a steal right now @ $1.74). Also, they still have their main mining property so I think investors just over-reacted over the news. KRI will get through this as they held a meeting last week with Centerra probably to discuss how to approach and handle the issue with the Mongolian authorities. Good move on selling @ $1.96 as they were many many shorters and it moved back down to the support level @ $1.70 after a couple days.
Comment by pho — September 1, 2007 @ 5:47 am
Thank you for the update its a benefit to our readers as well as us.
We were fortunate with our trade to sell before the price fell back. However we think that you are correct in that it is still a steal at $1.74. It will only take one positive announcement from Khan for the stock price to snap right back. We will try and keep a close eye on it and may possibly go back in, we will post as soon as we hear anything.
Well done with your purchase at $1.25, in a few days/weeks from now you could be opening the bubbly!
Comment by Uranium Stocks — September 1, 2007 @ 12:20 pm
News out! It’s good news. Their exploration license is declared VALID and is confirmed by the authorities. Please see the website for the news release. This caught me by surprise as it was dealt rather “quick”ly.
Comment by pho — September 11, 2007 @ 4:24 pm
pho,
Much appreciated by the team here - have a good one.
Comment by Uranium Stocks — September 11, 2007 @ 4:34 pm
You guys looking for 15percent left another 30percent on the table-LMAO! Quick is in Mongolia since 14th of Sept…will be there for a couple of weeks duration-expect him to return with a mining license from the special exploration license now in hand on the additional dornod properties-he is also dsicussing the stability agreement framework from what I understand-as we were next in the GOM que after Centera’hammered out its own draft agreement back in early Aug.
If he has good news upon his return-which I expect he will…look for some high visibility from him in this regard-last year he made a BNN appearance…it was Rob TV then…but whatever-I would like to see him use these avenues again as it has been about a year now since he last appeared on the public wires…when he speaks publicly he exudes confidence…character and integrity.professionalism personified to the ninth degree…a public appearance by him IMO would be bullish and rather timely…and for that matter…just about due…but that’s how I would run things-from the front end office side of things-if bringing back the bacon…which I expect he will.
SS
Comment by shawshank — September 18, 2007 @ 2:23 pm
SS, Please note that after we closed our trade Khan retreated back to what we had paid for it, so taking 15% in such a short time was a good trade for us. We did consider going back in but decided to wait.
We do have a substantial position in Khan as a core holding and we are happy to hold it. Hope that you are correct about the ‘good news’ cheers, Bob
Comment by Uranium Stocks — September 18, 2007 @ 2:54 pm