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Online Share Trading

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WEZ

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vishal
Regular Contributor
WTF is happening to this share? Down almost 10% today 15% over the last 2days Thought this share was going to climb to R15 not the other way around
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10 REPLIES 10
barry_1
Super Contributor
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Not applicable
Had a big run recently,probably a bit of profit taking.This happens,nothing goes straight up.
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Not applicable
Well if you look at some of the 3/4 - 1.5 mil bids at close to the low price some people are still very interested that this will pull back.
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Vencat
Occasional Contributor
Not sure if this will help...saw this posting on another forum... "On the Money Web radio show last nite,someone foned in and asked about WEZ...should they buy it Alec Hogg replied he wouldn't touch WEZ as they are not even producing any platinum....in fact they will only be producing in 10 years.And...he's correct Here's the reply from Alec; MONEYWEB: John, thanks three really good questions. Let's go to Wesizwe Platinum first. I'll give my controversial response. I know Mike Solomon, the chief executive, fairly well, and I asked him, "What's going on Mike, why's your share price going on up and up and up?" He said, well, his PR people have said he's got to shut up now, because every time he opens his mouth it seems as though some reporter sees a deal where there isn't a deal, and he says he's flabbergasted. It's nice to see this kind of spice happening in a stock, but even Mike is a little bit perplexed by why the share price should go up. So I do think, Nick, you need to worry about this one. I'm not saying you need to short the hell out of it. Definitely, if you are considering buying the share, remember there is an enormous amount of hot air in that. On this programme once before Mike Solomon has explained to us that it's going to be almost a decade before they produce their first platinum out of the mine. They first have to raise the money to build the mine - remember that it's deep down. They have to pick up the ore bodies from a long way down in the ground. Then they have to process it. And all of this take many, many years. So you're talking about ten years before you get the money out, and I think somebody thinks that Wesizwe's going to be taken over by one of the majors and as a result they've pushed up the share price. It might be a little premature. Do either of you gents have anything to add?"
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Not applicable
He prob wants a few more shares at a good price so it was a good idea to take a dig at it.
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vishal
Regular Contributor
Thanks Vencat ,I missed yesterdays talk on radio ,I was monitoring this share and actually wanted to purchase it a week ago ,but Thank you lord I did'nt. Would have been deep in the RED today.Good share for the LONG LONG TERM.
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kr_pto
Super Contributor
look at the ROM chart for yesterday as well, can see it was at the maximum, so fall would have seemed inevitable. IMO
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Russ
Super Contributor
Thanks to Nick from Cape Town who phoned in. Mmmmmmh, I wonder if we can sue him and Moneyweb for damages? They can put our case on the roll right after Dr Roffey vs Chartist.
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Plonky
Super Contributor
Thanks Nick Bought WEZ @ 720 today. Hope to sell @ 920 next week.
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Russ
Super Contributor
Nice one, Plonky. As they say,there are no problems,only opportunities!
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