Appears to be finding some support with those large volume bars. Waiting to see if the daily trade starts to respect the 8 EMA which it has not done too well which would indicate that not many are watching this too closely. If 8 EMA stops switching between Resistance/Support then the big signal will be the 50 SMA crossing the 200 SMA (golden cross). We are a ways off that yet, however, the SP would have appreciated significantly for that to occur. Draw a horizontal through 3.6c and trade will surely test if this can become support.
Personal trading, I did quite a bit of buying in the 3 - 3.2c range last year. Did not pick the bottom but it appears to be oversold based on repayments made and current diamond finds. It is a long term punt that LOM finds the source of the alluvials, but the coy has built schools and relationships in country that should see SH rewarded if the pendulum is to swing both ways. Yes there is political and sovereign risk, that is why this coy is trading at current levels. What's the saying? Be greedy when others are fearful? GLTAH.
