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Hi CP52,
You threw me then discussing SGZ here!!
Yes I am aware but like I say data is part of my investment consideration. Imo 115-120 is a good top up price. I now have a very decent, for me holding here.
Ps. Every stock is a trading stock it’s just the time between buying and selling that varies.
Trek
Trek,
SNG stock tends to be very tightly held by investors. Not a trading stock. SP currently held back by the recent placing.
To think that in just a few small weeks this tiny company will begin chucking off cash and self financing. Future mine expansion can be expected, then Cononish 2,3, etc
Not to mention the mind boggling exploration potential over their huge acreage. So many positives here.
Very exciting future ahead as this company and its resource will just grow an grow against the backdrop of a gold bull market.
If that isn’t The Holy Grail I don’t know what is.
As I thought it’s showing as a sell. Bit of a spread across the mm’s so the lse algorithm can’t quite find the mid point. Pretty much anything 119 is a buy. Not that it matters much as there’s two sides to a trade but at least it’s eating any overhang now....
Trek
Trek
Just picked up 1762 @ 119.15. That’s very close to bid and may show up as a sell.
Volume since 12th Oct been pretty good. Hopefully churn through those shares. 115-120 range is established and I view that as a buy zone. I don’t see it going down below that other than an intra day blip but can’t be arsed to wait for the odd penny, have been selling elsewhere to buy here. If this breaks 125 then we should be off again to 150. There is a gap 125-150 that could actually work in our favour for a change by offering very little resistance!.
RSI-14 is back to 63 now indicating the price is back on ‘fair value’, based on rolling average of 14 days of buy/sell ratio.
With the placing out the way, grades, first pour and premium I can’t see any other more favourably risked gold plays atm!
Volumes
https://www.londonstockexchange.com/stock/SGZ/scotgold-resources-limited/trade-recap
Gap/RSI
https://www.londonstockexchange.com/stock/SGZ/scotgold-resources-limited/company-page
Technical summary. 76% buy.
https://www.barchart.com/stocks/quotes/SGZ.LN/opinion
My interpretation is the trend is about to change for the up. Some folk don’t do TA, fully appreciate that. I view it as just another data point and more data = more informed but obviously RNS rules ok!
Talking of RNS annuals should be next.
Trek