Just bought into this stock, anybody else a shareholder?

suggest you also talk to IG how it works on SB side, as my experience is from CFDs

DD i thibk i read that IG provide free L2,on certain accounts, worth asking.In the meantime do you use the above facility,trades?
cyril

IG will waive fees subject to activity

Hi cyril

My understanding of the trades is that it estimates which are buys and which are sells based on the price taken. In other words, it is very misleading and after trading for five years I'm afraid I wouldn't take any notice of it. If the market makers are pushing the price of a tiddler up then through whatever means (delay?) buys can appear as sells and vica versa.

All I know for sure is I can now see when a stock is on the rise, I buy into that and mostly make money from it. The problem over the past three weeks is the market has become stuck again (to my knowledge only DES and SKR of the tiddlers have risen over the past few days) and hence for the moment the system has broken again. I use live streaming which in a decent market serves me well. As cynic has said more than once I should get L2!

i'm sure warren buffett doesnt have level 2!

oh, he doesnt have a computer, haha

SKR has gone very quiet any news/views?

I sold out sometime ago so not entirely sure but i believe aJORC and BFS are in the pipeline?

The SP seems a bargain at 29p,however it could go lower as the Lehman admins are selling along with one of their divisions Hanover
Nominees.So it's a question of wait and see,a couple of pence above bottom would still imo end up a worthwhile punt?
aimho, dyor
cyril

Resource update,
50m/tons from 40% of acrage with a mine life of 20yrs.
cyril

Seems to be a problem with news this am?

JORC MINERAL RESOURCE ESTIMATE FOR PART OF THE CHILISAI LICENCE AREA
Sunkar (AIM:SKR) is pleased to announce its mineral resource estimate, prepared
by Wardell Armstrong International Limited ("WAI"), covering some 40% of the
Company's 836 sq km Chilisai licence area ("Licence Area") in accordance with
the guidelines of the Australasian Code for Reporting of Exploration Results,
Mineral Reserves and Ore Reserves ("JORC").
HIGHLIGHTS
* The JORC resource estimate covers 40% of the Sunkar licence area. This is the
area closest to the proposed fertiliser plant site
* The area contains more than sufficient resource to meet the first 20 years of
planned ore extraction at a rate of 10 million tonnes per annum
* 293 million tonnes in the JORC Measured and Indicated categories with a grade
of 10.6% P2O5 at a 5% cut-off grade for a total of 31 million tonnes contained
P2O5
* Total resource including Inferred ore is 475.4 million tonnes with a grade of
10.6% for a total of 50 million tonnes contained P2O5
* Observations from trial pits and long trenches, which bound 400m x 400m mining
panels, confirm the phosphate rock in the Licence Area forms a layer that is
fairly uniform in terms of thickness and properties but varies in terms of its
structure (occurrence of top plate, nodule and pebble zones within the ore body)

Serik Utegen, Chief Executive Officer of Sunkar commented:
"At this stage, we have estimated a JORC resource covering some 40% of the
Chilisai 836 sq km licence area, sufficient to support Sunkar's economic
assessment of the project. This confirms the previous Soviet estimate and will
comfortably support a mine life of at least 20 years at our planned production
rate of 10 million tonnes per annum. Coupled with results of the recently
announced pilot plant test programmes, which support the ability of the ore to
produce international grade fertiliser successfully, this JORC resource estimate
is a significant milestone in the development of the Chilisai project. During
the course of 2010 and in tandem with the definitive feasibility study ("DFS"),
WAI will continue their review of the data for the remainder of the licence
area.
This news is further confirmation that the Company is achieving its development
programme outlined at the time of the Company's IPO in June 2008: trial mining
and beneficiation has successfully been producing 17% grade concentrate; pilot
phosphoric plant tests have proved the 17% concentrate can produce acid of a
quality to make ammoniated phosphate fertilizers and finally this resource
estimate demonstrates the project has sufficient ore to sustain annual
P2O5 output of 800,000 tonnes."
MINERAL RESOURCE ESTIMATE
The estimate below covers 40% of the Licence Area and is based on digitised data
for that part of the deposit only. Work continues to incorporate digitised data
for the remainder of the Licence Area with the intention of incorporating this
into the resource model.
cyril

Sometimes i wonder what PI's expect of companies,todays annoucement is saying it's just a matter of time. Such progress and yet no interest and still at a disgounted level due to a seller (believed to be Lehman's Administrator?)wwho will soon finish, so imho not to be missed.
A reminder of the potential,
The sheer brutality of a bear market is writ large in the performance of Sunkar Resources which raised 36 million in June prior to listing on AIM. The price paid then was 120p per share: now the shares cost 24p. And nothing has changed. The company still has a phosphorous rock deposit in Kazakhstan totalling 800 million tonnes capable of producing fertilisers for the next 56 years. The deposit lies in a flat lying position on the Kazakh steppes close to surface so will be cheap to mine and the world still needs fertilisers. Even so investors have decided in a matter of weeks that the company is not worth 191.8 million, but 40 million which is only a fraction more than the money actually raised. That is the measure of this bear market at the moment, but Donald Sinclair, the Scottish finance director, is determined to maintain the companys presence in the market until the turn comes and sensible valuations return.
In this case it was the first interim results that were being discussed, but there was not a lot of real news over such a short time. The terms of the Sub Soil Use clause have been amended so that the Kazakh subsidiary is in full compliance, but you would have to have read the original terms to understand the changes. Apart from that, most of the mining equipment has been moved onto the site and stripping and ore extraction operations have started.operations. There is more machinery still to come and the tantalising thing is that the company could be very close to cash flow.

The bottom line is that this rock can be concentrated very cheaply to17% phosphorous which could be trucked as crushed rock direct to users in the vicinity to boost alkali in the soil, or to a suitable plant in Russia or Uzbekistan for upgrade. There are two problems with this. The first is transport costs and the second the low price of around US$20/tonne that will be received. Nonetheless there could be a profit in direct transportation perhaps as much as US$10/tonne depending on the distance the rock has to be transported. With such a huge deposit it makes sense to generate an initial cash flow from this operation while still moving ahead with the core plan which is to install a phosphoric acid plant.

The first essential step of this processs involves treating the rock with acid to produce phosphoric acid. Fortunately for Sunkar there is plenty of sulphur available from the Tengiz oil field in western Kazakhstan where Chevron is involved in a joint venture with Tengizneftegas so sulphuric acid will be no problem. Each barrel of oil being produced contains about 16% hydrogen sulphide, which the company says is equivalent to just over 19 kgs of recovered sulphur. In addition the gas fields nearby have excess ammonia from the cleaning of sour gas so Sunkar will be one of the few integrated producers of phorphorous based fertiliser in the world as all three main components are within reach. As part of the ongoing process ammonia is added to the phophoric acid to produce either mono-ammonium phosphate or die-ammonium phosphate which are the actual fertilisers.

A large-scale, low cost phosphate fertiliser manufacturing operation producing up to 1.76 million tonnes of d-ammonium phosphate per year is expected to cost around US$740 million. But when one considers that the current price of DAP, the worlds most widely used ammo phos fertiliser, easily adapted to all ranges of dry fertiliser application methods, is worth nearly US$1,000/tonne, the return should be swift. Add to this the advantages of having such a huge deposit near surface and close to transport and it can be seen that Sunkar Resources has a huge asset with immense potential which is simply not being valued sensibly in these difficult times. Even if the shambles of the US banking system is infecting the rest of the world crops will have to be grown and crops need fertilisers. This is the sort of stock Buffett and Bolton buy at times like this.

The central part of the deposit alone covers an area of 836 sq kms which is about one-tenth the size of County Durham. The overburden is only about 3 metres in thickness so can be stripped by scrapes and bulldozers. The processing plant would be at the epicentre of a highly agricultural region west of the town of Kandagash which is a freight hub on the North-South road, the Moscow-Tashkent rail link and the Orsk-Atytrau rail link. Transport is no problem so Sunkar can start generating modest cash flow quite quickly while it develops a strategic mining and business plan and carries out a bankable feasibility study on the processing plant. It just makes so much sense even if investors have shut off their brains for the moment.

The case for buying Phosphate deposits is similar to oil. There is even a Peak Phosphate debate to rival Peak Oils.

http://www.energybulletin.net/node/33164

The case for phosphate deposits is population growth means more agriculture means more fertiliser. Just as with low cost oil companies, cheap phosphate

cyril

A large seller(believed to be Lehman's administrators and a susiduary) are making company this company seriously cheap imho? As to how low it may go is open to question but still a lot of stock aroubd,watching and waiting
for signs of the overhang to clear before making an investment decision.
cyril

Plenty of volume today and bouncing back, most likley - Lehman's - has managed to sell what was left of the stake clearance and the overhang being cleared.

SKR 26.50p +0.25p

Today's Candlestick was
WHITE CANDLESTICK
Type: Reversal/Continuation ...


Today's Candlestick was
WHITE SPINNING TOP
Type: Reversal/Continuation...

M RSI looks like your right,if the overhang has been cleared then hold onto your hat.MM's will have seen the excitement amoungst PI's,could make for an interesting opening?
cyril

From another board,
Sunkar Resources , the Kazakh phosphorite company, eased 1 per cent to 26p after a block of almost 7m shares was placed with institutions. Traders said the stock was sold by the administrators of Lehman Brothers.

http://www.ft.com/cms/s/0/629eac42-11f5-11df-b6e3-00144feab49a.html?nclick_check=1

Blue this am,which in this market is quite something.
cyril

This just about sums up what i've been saying.

www.investtech.com

Weak Positive Candidate -Medium term, Feb 1, 2010 Analysis Explanation
SUNKAR RESOURCES PLC has fallen back towards the floor of the rising trend channel. A continued rise may be expected and the current price level may be a good entry price. Has, however, received a negative signal from the moving average indicator, thus signaling a continued fall. The stock has marginally broken down through the support at pence 28.50. An established break predicts a further decline. Positive volume balance strengthens the stock in the short term. The stock is overall assessed as technically slightly positive for the medium long ter
Probably the best performer today?
cyril

Confirmed with News of all sold yesterday

Lehman Brothers
from holding 7,771,534 --- to 0

Continueing their recovery now the overhang has gone,32.75p top trade so far?
cyril

a better chart for you all

i only follow this stock rather idly, having made (i think) a few pennies on it several months ago ...... in what is a surprisingly good market this morning, this stock continues to misbehave (as does DES)