May 10th - Solid Play Update
Right now SP Stocks on Watch fall into three categories...one play which has already taken off, one which looks poised to do so at some point in the near future based on news, and a third which also looks poised but for which there has been no sign of news recently.
Here they are:
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JNR Resources - JNN-X $ 0.22
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Drilling for Uranium in Saskatchewan with some recent positive results...has marked time mainly between 11 and 15 cents during the past while, but made a strong move on initial drilling results news to as high as 25 cents yesterday (May 9th) finally settling at 22 cents. For some this represents a double and so profit-taking was bound to occur (hey, it's money in the bank, right). Yet, at least 3 and as many as 20 more holes are still to be drilled and sampled...so this could be a play with much more speculation over the next couple of weeks at the minimum. Some are saying that if the goods are there the gains even from here could be substantial. ($ 2, $ 3, even $ 5 within a intermediate term).
**For the record, see my posts at the Hot Mining Stocks Under $ 2 thread in the Mining and Natural Resources thread, where Solid Play had given the heads up as volume picked up last Thursday.
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Hegco - HEG-X $ 0.98
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Hovering in the $1.00 to $ 1.30 range since action picked up several weeks ago, it looks like some dormant deals are coming to fruition. This stock has shown the ability to really soar when good news arrives.
Here is an excerpt from today's News Release from today...the events described should put HEG back in play and at least gradual appreciation seems highly likely.
"In Eastern Oklahoma, the company is participating in the development of two new wells. The first, in which Hegco owns 40 % of the working interest, has been drilled and is awaiting completion. Drilling has indicated favourable results. The second, in which Hegco owns 80 per cent of the working interest, is currently being drilled. The company expects to have both wells in production next month."
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Cavell Energy - KVL-T $ 0.27
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Once a $ 7.50 stock, this oil exploration company has been trading well under $ 0.25 for an extended period of time.
Now, however, the price is strengthening, more and more frequently pushing from $ 0.20 to $ 0.25 - $ 0.27.
This suggests something is stirring...and all indications are the price could easily see 50 cents in the next few months.
SOLID PLAY |
