Uranium Coming To The Boil.

As I have mentioned before I have in my portfolio a Uranium stock called AEX.

Today the sp jumped up by 16.67% on turnover of 125,762,125 shares. I think other investors like it as well, as in all there were 651 trades for the day.

Points of interest.

1. A Director had purchased 1,000,000 shares on the 23rd of this month.

2. A comprehensive AGM presentation was given on around the 28th of this month as well.

3.Drilling was commenced early this month with results coming soon.

I had repurchased AEX at 4.3 cps on October 20th after my stop loss had kicked in at around 6 cents per share which I had put in place to protect my profit in case it slumped, which it did the very next day. Boy was I glad I did that.

Todays jump in share price means I am now in profit by 10% allowing for brokerage. A stop loss is in place to save some of that profit if it goes backwards too much.

I will have to wait till tomorrow to see what happens to see whether it was just a flash in the pan.

One of my long termers VPE (currently temporarily renamed VPEDA) has completed a reconstruction of their shares to the tune of 1 new share equals 10 old ones.

This means instead of 50,000 shares I now own 5,000, but the share price changed from 2.2 cps to 22 cents each.This I feel will bring VPE to the “Public’s Attention ” more readily.

After checking today’s results,I found they had gone up by 1 cent to 23 cps. With Buyers outnumbering sellers by 3 to 1 .

With 10 wells to be drilled this coming Month I am watching this one very closely indeed.

Also they hold the largest area for exploration in the ” Cooper Basin” with a success rate of 45% in finding oil.

A new “Corporate Presentation” on VPE given just a few days ago. This is available at www. asx.com.au if you are interested .

So tomorrow looks promising, and the one good thing that I like about the sharemarket it is never boring and I have a ” ball” in fact I might have two of them tomorrow.

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