SVM, Sovereign Metals Limited (market cap 17.9mil) TA long
Copper, gold and uranium exploration in QLD. Also Acquisition of Coarse flake graphite project in Malawi, Africa. (resourse nearology to SYR but potentially larger and better grade)
Link to graphite acquisition.
http://www.sovereignmetals.com.au/upload/documents/investor_relations/asx/20120821_120814SVMAcquisitionofMMPL_Finalhighres.pdf
Big Gap up, Spike and 5 week 50% retrace on decreasing volume. support comming in the last 2 days to above the 10 DEMA and close to the break line. Looks set to break higher in next couple of days. More aggressive entry will be on break of 35-36c with + volume or more conservative entry on break to new high with volume. currently 33c, Targets to 50c and approx 64-65c projecting a measured move.
Spotted by Pilsner, No Position Held
Free this will be the only one from me this week ur in for a busy night populating the list with quite a few here.
weekend lounge stt 14-16 sept, page-32
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