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There is no resistance line at 200p!!!!!

Looks like we could move to 114p later this morning.

For new readers on Monday,

For those who like technical trading in stocks the following is the set up on Pensana. Ascending support line has moved higher from 94p to 103p last week. The descending resistance line is at 117p with resistance lines at 110p and 114p to break. A move above 117p opens up acceleration in stock price to 125p and a full blown breakout delivers 148p.

With Pensana discussed in the Sunday Times, they may get a lot of interest tomorrow. PRE has 22% ownership by the AWF which is a Sovereign Fund. From 8 October to 15 October the top 20 shareholder bodies bought nearly 500,000 additional shares. Vidacos was the highest at 236,000 additional shares.

https://www.gold-eagle.com/article/are-we-headed-for-recession-signposts-and-realism

No resistance lines remaining until 240p.

The support line at 15p sell is incredibly strong. RRE is setting itself up nicely on a future move higher.

Higher low if it were to happen is likely to be around 166-168p area. Higher high target would then be 194p. Running on a rising bullish channel.

If it does not break through soon this will be just another higher high and it could do what it has done many times before and put in a higher low on a retreat, recover buying strength and then put in a higher high above 185p later next week.

RSI on 5 hourly passes 80. We shall see what happens when the big players come in later this morning.

Resistance lines are at 180, 185 and 194p. Currently testing the 180p line.

dogstar

The grades are expected to improve in the current quarter. Overall the company is moving to a model of becoming a 100,000 ounce producer and it will have more than one single mine. The AISC per ounce should fall to below $1200 as a worse case with whatever higher costs one can throw at it. Gold is likely to edge up but lets run with $1800 with $300 net profit after all taxes. This yields a $30M profit company a year. At 10 PE rate that is an EV value of $300M or £217M and equates to 20.6p. This figure has been generous on AISC costs with a completely flat gold price. However a 100,000 ounce conversion into reserves from Kenya yields an increase in the in ground value of the company of £10m to 21.6p and increased in resources above what is depleted takes the value to 22p. If Gold was $2000 per ounce the value increases 33% to 28.7p and if AISC was just a $1000 per ounce the value increases to 35.4p.

Cheap Shanta shares everybody. Wow good for top ups. Nice Christmas present after the October divi. Can hardly believe our luck.

I am not deaf DP. Aviva for that matter and hedge funds like Dolefin (Swiss) are also interested in companies helping deliver the COP26 agenda. The discussion with L and G was pre market open yesterday. I am also not blind to the completely inaccurate comments you put on the Synairgen board a couple of weeks ago so pot calling the kettle black on the fibbing front.

As soon as you came back on here just when the overbought signals wore off on the 5 hourly it helped Pensana rally back. Funny that and thanks. Incidentally it doesn't by magic generate more interest in RRE by having a go over on the Pensana board. I do not know why you do it, writing garbage on stock boards your not invested in. I guess DP you must be very lonely.

ChinaSyndrome a gap between 108p and 109p was left in the charts higher up this morning.

The rally is happening for a reason. Legal and General yesterday were describing on Bloomberg company bonds they want to buy and what they were looking for were companies like Pensana, HZM and others. Climate change protection stocks is what investors want to have in their portfolio.

Porcupine South mineral resources were updated during the Period to include the western extension with an overall increase of 345 kt @ 1.75 g/t for 19 koz contained. At least they replaced mined out gold for the quarter (in ground value $600,000). It has to be a good Q4 for January to hit all the targets. Being 3 weeks in they are at least confident of doing it.

Resistance lines are 111.6p (Substantially weakened during the day) and at 114.1p that had a brief intraday breach. Further resistance exists at 118.2p and 128.9p.

Once a price has closed above these points , they become areas of support. The effort to get past longer standing resistance lines that go back months will take quite a lot of buying pressure. We shall soon see how it all plays out.

On a range of issues to do with renewable energy in production, will they have climate protection policies, will they take up green bonds to accelerate copper production can they prod Azeri Government to act during COP26 etc.

Perfect way to put to bed any concerns that were being aired yesterday. Another 4 weeks and hopefully last patient dosed. If the share goes anywhere near 146p to close the RNS created chart gap which may not get backfilled, would be a huge invitation to top up. The Synargen SP has a lot of interested buyers in the background. I would not be surprised if the market maker had plenty of choice when to sell into buy orders held on the book. The bid and ask spread is reasonable.