Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Obviously the presentation was correct at time of publication but MR did say in the recent Roast interview further drilling in Italy is slightly delayed and will most likely be Q4 2024. Not sure if he is expecting permits to be delayed now?
The aim market is purely momentum and sentiment driven at the moment. Traders moving from one position to another chasing news flow and volume. Unfortunately we don't really have either of these but what we do have is a solid investment and fundamental case. Thus this is an easy hold and we are in the safe in the hands of MR who is a competent director.
I'm inclined to agree this will stay range bound until news flow kicks in. When you consider the number of companies on FTSE small cap has decreased by over 30% in the last year just be grateful you're in a cash generative company with little debt with bright prospects for 2024.
RNS tomorrow morning would be preferable IMO. It would help sustain the rise and hopefully get over the resistance. I noticed there were still a couple of chunks sold at 6.5ish. See what happens this afternoon which is usually when the seller(s) come with more force to bat us down.