I was a bit more harsh on the culling program this week, and was only left with two that had any sort of interesting trading, after removing the lithium & cobalt hopefuls, along with the very low liquidity stocks, & shells reinventing themselves etc.
MLM & RMG - Both of which have some questionable features though......which then leaves us with none......
MLM - Has a few different project on the go, but is concentrating all efforts on Bauxite in Nth Queensland, has some cash and expects 900k mid year, and is currently doing a rights issue to raise up to 2mil @3cps. Two weeks ago the narrow spread bar that dipped lower and recovered, appeared to contain buying & this week's bar showed a response which confirms that potential support, and may also be an absorption bar. It will possibly see a test bar next, as price will probably not go far until the rights issue is completed.
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RMG - has a paultry 31,000 in the bank, and says it will spend 30k this qtr just gone, so has to raise soon. So perhaps the recent trading is some traders getting set in preparation for a pump to raise at a higher price...... It is currently paying its employees in stock and is exploring for copper in Chile (and has divested all other projects to save money).
Thanks again Rav for doing the scan, hopefully something a bit more interesting will turn up soon.
