marcel1970,

Well the market certainly agrees with you!

A healthy 30% rise today, on high volume, possibly suggests a turning point in sentiment at least.

SCR have to deliver now, Denfang grades are required, and if SRK have done their job, we may well hear before the AGM later this month,

Not before time!.

Boxer,

I agree, SCR was well oversold IMO.

Looking at the chart, providing the price at least holds in the next day or so, it has just broken the downtrend, but we need at least one more trading day to confirm.

South China Resources added 2.75p to 11.75p with more than 13m shares changing hands, around 10 times the normal amount. Traders said one potential buyer had been waiting for the right time to acquire stock, and had now decided to make a move. The company recently announced a joint venture copper project in Tibet, which it said would have a significant impact on its business and promised a more detailed announcement shortly.

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South China Resources was also in demand, gaining 2-1/4 pence at 11-1/4, following the announcement of the acquisition of 53 pct of a copper project in Chinese Tibet for 6.8 mln usd.

In response, Hichens Harrison noted that SCR has indicated the potential for further acquisitions for some time. The broker expects full details of the project later this week, but believe the project to have very large dimensions.

It concluded that although remote and at altitude, neither of these factors will prevent a major development

Fantastic potential,news imminent, 30p here we come!!

Can't belive the drop today on what seems tobe fairly even buy & sells, anyone any thoughts?

MM's trying to get more stock maybe before the next leg up. Still good buying volume. Sit tight

Significant RNS this morning.

Click HERE

Goog RNS Out Yet price drifting down anyone any thoughts?

Marcel1970,

Well firstly the whole AIM resource sector is sliding, and secondly SCR holders are awaiting news from Danfeng, rather than from this new project.

Danfeng can deliver short term production, revenue, and profitability, whereas this new project, although highly promising, will take years to bring to fruition IMO.

AGM at the end of the month, there will be many questions re Danfeng if an announcement has not been made by then.

South China Resources slipped 2p to 9.75p after the company cautioned it has not so far confirmed the presence of high grade molybdenum at its Danfeng project in Shaanxi Province, China. Assay results do confirm the position and orientation of copper mineralised zones reported previously (AFX)

oh dear oh dear .... haven't followed this share at all, but do i get the impression that the "wily oriental" has stiffed those dumb round-eyes yet again?

Certainly changed my sentiment to avoid!

SWW ... hope you didn't hold these in the first place!

I did at 8p sold at 12p ands watched it go, I was thinking of retuning, but didn't, I wanted less than 8p, mind you it looks like it will get there of less easily now.

BTW I suspect that I smell a rat!

The recent fund raising and acquisition was a smoke screen imo, as they knew there may be trouble ahead!

Lucky boy wasn't I?

Other were luckier who sold higher, I am not greedy tough and take smaller amounts where I can.

cynic,

Not sure why you think the Chinese have stiffed anyone, SCR have simply failed to quantify the Moly resource, and continue to do so.

because i am a cynic ..... especially when it comes to Chinese business

cynic,

Well in this case, I believe it is purely down to SCR being unable to define the moly resource, and the Chinese have had nothing to do with this.

I know some SCR holders, and they are looking at thr company to rectify this situation.


I read the RNS and sold.

Just topped up, hopefully at the bottom end, so stop being silly and start to go in the right direction.

Well good luck oilyrag.

Can't say I will be joining you at any price after the last drill result.

But that's just me I suppose........