VLO in, additional info on NXG
Bought VLO at 60.85. Should've look to enter below 60 but didn't have much time to analyze and make the trade until Friday.. S&P has a target at $77. Not sure if I'm that optimistic, looking to exit this around 70-72. Stop at 56.
I mentioned NXG earlier. They issued a press release Thursday afternoon announcing new drilling results at their Young-Davidson mine. On the news, it jumped about 5% afterhours and another 4% on Friday. I am still not sure if I should be buying this yet, considering the AZK aciquistion is still pending. If the deals goes through, this will increase the number of shares in NXG by 107 million shares, almost a 50% increase from the current outstanding 214 million NXG shares. Also, AZK ended trading Friday at $2.91, which is still a slight premium to the NXG offer of .741 NXG for each AZK share. I may accumulate a little bit if it gets to $3.5-$3.6.
I mentioned NXG earlier. They issued a press release Thursday afternoon announcing new drilling results at their Young-Davidson mine. On the news, it jumped about 5% afterhours and another 4% on Friday. I am still not sure if I should be buying this yet, considering the AZK aciquistion is still pending. If the deals goes through, this will increase the number of shares in NXG by 107 million shares, almost a 50% increase from the current outstanding 214 million NXG shares. Also, AZK ended trading Friday at $2.91, which is still a slight premium to the NXG offer of .741 NXG for each AZK share. I may accumulate a little bit if it gets to $3.5-$3.6.
posted by bill at
5/27/2006 09:08:00 PM
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