Geo Energy Resources

GEO
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11 years 3 months ago #12906 by GEO

Replied by GEO on topic Re:Geo Energy Resources

First US$5mil was used in the Coal Sales Purchase Agreement dated 11-Dec-2012 for 4 million metric tonnes with agreed coal specifications and average stripping ratio.
Second US$5mil was used in the Coal Mining Cooperation Agreement dated 09-Jan-2013 for 650,000 metric tonnes.
Seem like Geo Energy Resources has utilised its US$10mil set aside for business expansion. But no announcement been made by company on the utilisation of its IPO proceeds, so perhaps those 2 agreements were funded internally.
1) Was curious why GEO Energy Resources did not to acquire any of their qualifying assets listed under ROFOAR using the US$10mil first but instead spend US$10mil on Coal Agreements with other coal miners. Should not it be better to have their own coal mines since they currently owns only one coal mine BEK?
2) The second Agreement coal do not seem to be a better deal than the first agreement if we compares 650,000 metric tonnes to 4 million metric tonnes using the same amount of US$5 million. Wonder if the second agreement involves better coal specifications and stripping ratio?

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GEO
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11 years 2 months ago - 11 years 2 months ago #13167 by GEO

Replied by GEO on topic Re:Geo Energy Resources

Taken from 22 Jan 2013: Use of Proceeds from IPO
GEO Energy still have US$9 million left for Business expansion including acquistions, joint ventures and/or strategic alliances after utilising US $ 1million.

Last edit: 11 years 2 months ago by GEO. Reason: Format

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zane
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10 years 11 months ago #14151 by zane

Replied by zane on topic Geo Energy Resources

Hello GEO,
Are you still vested in Geo Energy? What are your current views on the attractiveness of the stock? The company has 5 coal mines to do due diligence on now, and I note that the 2 IDs have made initial purchases of the stock. Would you think it's at an attractive level now of 43 cents? Thanks in advance

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10 years 11 months ago #14161 by GEO

Replied by GEO on topic Geo Energy Resources

I am still vested in Geo Energy but in smaller holdings as i have taken partial profit when it was abt 0.60 plus. After which it went downtrend.
At current price, it is nearer to its low 0.34 but im not sure if downtrend will continue after it went sideways.
i wouldnt advise you to enter in big quantities if you really want to buy a stake in geo energy now as coal prices may not have reach its bottom and should keep some cash to purchase if in case coal price goes down furthur affecting geo energy share price.

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zane
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10 years 10 months ago #14332 by zane

Replied by zane on topic Geo Energy Resources

KNN Today 12,379,000 shares were short sold. These buggers have no confidence?

12.379 mio out of 56.367 mio transaction = 22%.
Significant. :angry:

www.sgx.com/wps/wcm/connect/sgx_en/home/...hortSell20130603.txt

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zane
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10 years 9 months ago #15339 by zane

Replied by zane on topic Geo Energy Resources

Coal prices have bottomed. Expect recovery by early next year. If so, this is a good time to get into GEO at only 38 cents ?

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