With 20% interest that would value the company at 500m preproduction before any gold has come out of the ground. Drilling results will need to be spectacular in a macro environment where gold miners are not seen as a particularly desirable investment at the moment. There's another miner on AIM which is very close to building the mine, probably lower grade but sizeable deposits and with government backing, almost fully funded, languishing on a Mcap of 10m.
So, technical bounce Monday, Tuesday, undone today but higher low, RSI worth looking at. Brave souls buying more today at that fib. If the RSI drops.......
Apologies, I can't find the post I referred to at the beginning of the boo post. I can only think I messed up posting it or imagined it. I'll check ADVFN.
I said a few days ago that brave souls would be buying at that 38.2%Fib at 171.76 and I did a bit, mind you I wobbled about the gap filling on Friday, nervous nelly. Of course I couldn't have foreseen the RNS today but it's amazing how often these coincide with important points in the technical cycle. I don't believe in coincidence btw
I think I have to stick with my mildly bullish short to medium term outlook and I commented on BOO bb about the late trades. The 2yr H&S plays out to 300 plus or something ridiculous but that's what my TA is saying. Quite a nice rounded bottom on the chart too
And the original handle was junked due to the nice chaps on teca recd me too much so I was on the board of shame with the likes of you know who lolol... so stop it :-)
I said a few days ago that brave souls would be buying at that 38.2%Fib at 171.76 and I did a bit, mind you I wobbled about the gap filling on Friday, nervous nelly. Of course I couldn't have foreseen the RNS today but it's amazing how often these coincide with important points in the technical cycle. I don't believe in coincidence btw
I think I have to stick with my mildly bullish short to medium term outlook and I commented on BOO bb about the late trades. The 2yr H&S plays out to 300 plus or something ridiculous but that's what my TA is saying. Quite a nice rounded bottom on the chart too
Boys and girls, and worldwide shorting conspirators, around 9.25m shares on loan, last four trades add up to around 1.728m all worked and reported at a premium to VWAP at identical price. We'll see if the 0.5% drops off the board in the next few days.