Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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What stops the managment doing it all over again, nothing !
Once trust is gone it has gone.
C$1.40 close TSX. Up 12.9%. 81p.
Very positive move. Low 70’s oversold, obviously lifted by POG but hoping we get to 88p soon then claw our way out of here!
Anyone buying. Not advice but worth considering averaging in in 70’s, then 80’s and keep some cover just in case.
Too late for me I am expecting a bounce at HE1 ahead of the drill but I have got my average here to 90.7p now so should be ok.
Trek
You couldn’t make it up. I thought shall I add at AVCT, here or HE1.
Chucked it into HE1 15 mins ago!
Mind you HE1 will do very well but it’s just the timing. You really couldn’t make it up!
Trek
Deffo Steady ... little increase...
Be good if this holds the weekend .... and into next week...
I think we can then call this bottom..
I'm tempted to add but just a little more tempted to use else where first as a few sprints expected .
I feel this will be a Mo Farah Sort of distance.... Steady up beat strides ... :)
But very pleased we avoided the death spiral .
Gold also been rising so both PUR and Gold have been oversold.
Buyers coming back.
There are support lines at 70p then 80p then 100p. If we hold above 70, it’s 80 then hold 80’s and it’s 100.
If 70p fails us by more than an intra day drop it looks like 50p for the next line of decent support.
I averaged down at 76. I saw the bounce and got suckered! It was a false bounce or early test. Thing is though you don’t know until after.
My rationale was the 88p strike price. Get below that then I should be ok. And I though it was going to climb back to the 80’s
It may play out like that but I am not now buying anymore unless it hits 60’s or sticks in low 70’s, treading water.
I traded this down pretty well by selling and buying back lower several times.
I am hoping we can soon do the same back up. 130|135 is where I still see value here.
Usual caveats
Trek
I have this one in bottom draw, and will come back to it in a years time, hopefully with some management changes.
fwiw my view is that it will happen but we're taking part in a 10-year marathon, not a one year sprint to some mythical finishing line. Recovery will be much slower than the drop and will take at least 12 months however the long term future remains rosy and we have to focus on the fact that Sprott is an investor, not a gambler and investors are usually in for the long term. The potential here remains fantastic but over a 3/4/5 year timeframe, not a 12 month one.
Whats your take on support and turnaround Prophet...
I cant sell what I have at this price but I can average down at the right time to soften the blow...
50 ? 60 ? Not many fighting there way in now ....
Going down the shirter...Note to self, when Directors sell, best sell too lol.
Not sure, almost at 61.8% Fib retracement where decent support or even end of rot should be seen. This is time to buy not short.
Everyone will be aware that there is absolutely no catalyst for these shares to start rising again any time soon; no resource upgrade ready in the near term, no improvement in figures so they are free to short the hell out of it . . hang on its going to be a bumpy ride