Mentioned a few weeks ago that the market felt like it had gone from looking for an excuse to sell to climbing the wall or worry. Been deploying cash into stocks since then and seeing some good spec runs, trying to catch a few if I can. Shells also seem to be popping all over the place and volumes up a little. Even tech shells looking to make bottoms and seeing some interest.
A few ideas:
AOA. Amazing volumes since the acq. Looks like it wants to go higher and trade through that low 2s resistance area.
WRM. Have accumulated a reasonable position here and would expect high grade zinc drilling in May to provide a nice run as drilling approaches and then into assays. Fully funded and appear to be twinning to kick off the campaign, which means a higher chance of strong first up assays
and a pump.
CAZ. Took some in Friday's placement and 5.4c not a big d/c to last traded, which may suggest demand was strong. Same team as DMI, which gave a bag and a half out of the 8c placement. Based on current mc, my expectation is that ~8-10c is a reasonable PT into drilling. Nearology to CLA is the obvious selling point but we really won't know if that's a valid theory till some drilling occurs.
FYI. Have been waiting for a bottom before adding and Friday's action looked positive. The best R/R HPA stock on the ASX as I see it and lots of room to move, as they progress the project.
SRI. Made an initial purchase last week after some good research from @CaptainGrumpy and @john435 showed the land position SRI holds, in relation to a potential discovery by Rio Tinto in the Paterson district.
Been upping the ante with the shells of late also. More detail in the XEC forum but quick summary of shell holds:
EMG. Super cheap, clean mineral shell. Euroz appear to be taking it over.
ETE. Some of the same team as TNO and a very nice register. Matter of time here. Plenty of cash, so dilution should be minimal when a project is acquired.
EMP/OC. Taking its time but very cheap o&g shell, Shaun Factor, great track record with shells, has bought up 12%. The OCs offer nice leverage.
MOX. Clean, low EV, mineral shell, looking into batmins.
PM1. Comes from a great stable and a cheap, mineral shell, with existing manganese assets. High conviction.
S3R. My only tech shell. Basically needs sentiment to improve for blockchain/crypto style investments, or make an acquisition. Blockchain advisor has been onboard for a couple of months now. Has come all the way back from mid-high 1s to $0.007. Can spike sharply. Register needs to tighten up.
TAO. Will commence copper drilling at their flagship project but would also expect further acquisitions in the months ahead. Wouldn't be surprised to see something similar play-out to TNO; list, trade strongly and any loose IPO stock soaked up, make a really high impact acquisition that sends price much higher.
TIN. Mineral shell with an excellent register that includes a number of potential top shelf dealmakers, like Mitchell (SAS) and Middlemas.
Quite a few others on the list, waiting for either volume to show up or price to retreat a little further.
Usual disclaimer, I hold all of the above and am breakeven or up on positions as of Friday's close. I may also sell if the story changes on any of the above or if they pump too hard, too soon and the RR changes. Timeframes for holdings are usually multi-week, minimum, and for shells, often multi-month. If you're more a trader, I'd consider looking at the shells with the strongest liquidity and priced in increments where you can manage risk (eg between $0.001-0.005, a single tick is worth 20% minimum and as much as 100%).
Hope everyone's finding some runners and managing risk. Cheers.
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