RE: Webinar Presentation link8 Jul 2021 01:00
Evening.
Yes, Newmont, in fact, are THE world's biggest Gold miner so that's very nice company to be in.
I was just reviewing the chart again with an eye on possible upwards targets.
The triangulation on the weekly (look at that weekly MACD/RSI unwind - wow - and still only at 54 RSI ...) is stark with either +40p or +27p breakouts (at some point) being dialed in from the massive three-week 8x bagging run from 5s to 46p in September last year and the subsequent high weekly open in Feb 2021 at c41p.
The top of that triangulation, directly above us (like right now/next week), is the price target I'd expect on a typical TA extension from the breakout from 13s to around 35p - it may not stay up there if it makes it but I can certainly see why it could be seen soon, particularly if they struggle to close this much below 20p (daily or weekly).
I also note that if you take the channel we've just created from the 5p breakout to the 13p breakout and parallel that with the prior weekly high close/open in October then that line is at the prior 46p high in a week or two - you just never know ...
In terms of further retrace - it may happen, it may not but this is going to be hammered at teens, certainly 17p, so take whatever you can get IMO - which on recent form won't be much as these guys are playing real dirty as we discovered last week at 14p :)
As for my 90p remark earlier in the day - I didn't pluck that out of the air - that's the high weekly close on this chart back in the day - a handy 4x from low 20s ...
Re the Tin comments - as I mentioned earlier today, I was genuinely looking for Zinc & Tin plays a couple of months ago and that's how OMI ended up on my radar, quite by chance, so the Tin project being added makes me all the more interested in this over the longer-term.
Most commodities have done real well over the last year as we all know but for perspective, take a look at the 1/3 year Tin & Zinc charts:
https://markets.businessinsider.com/commodities/tin-price
https://markets.businessinsider.com/commodities/zinc-price
No need to mention the terrific Gold strikes I guess - that will be at c$2,500 this time next year, period IMO.
Nite.
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