We'll there you have it folk's - and in line with the significant 8 cent target mentioned in my above post on 1st June - being the first MAJOR confirmation completing the ' Parabolic ' U of the long term moving average.
With this price point now having been tested , broken , and supported ALL in the same day , I believe it's fair to say that from the the obvious ' Axis of Symmetry ' having it's starting point at more or less the 3.2 cent mark as can be seen in W3hunters attached chart ( above ) posted also on 1st June 2019 , we can now move forward with a ' NEW ' base and ' Trading Spring ' level off 8 cents with a fair degree of confidence I should think.
I say this because if you assume the ' Axis of symetry ' lies perpendicular at the 'vertex ' price point of 3.2 cent , you can clearly see that the first ' congruent ' half being that prior to the 3.2 cents and covering the time interval all the way back to around 16th November 2018 when it last touched 8 cents has now mirrored the post ' congruent mirror image of the parabolic curve back to 8 cents. . This previous level of 8 cents was of course attained off it's previous declines from 10 and 13 cents , retrospectively 1 & 2 years prior to again to 2018. So on a longer term horizon , if we stretch the Parabolic ' Average Price ' curve back even further , we can see it even attaining levels of 17 through to the 20 - 22 cents level I had previously mentioned. And so I don't think its a mistake that the SP is trending and behaving in more or less the same pattern as the Parabolic formulae of y=x2..... with its clear doubling and potentially doubling again.
And you have to remember that ' NOW ' given all the momentum in the sector with strong economic development cases being dusted off for gold coming out of the woodwork - coupled with new highly sophisticated and improved mining and exploration technologies being deployed is definitely not ' BACK THEN ' so valuation are obviously going to be even greater than before. Especially for those who perhaps were know to already have the goods via their land holding packages.
Having said this then , it becomes obvious that the post 3.2 cent ' congruent ' retracement has taken much less time than some might have expected , however on the flip side one might also conclude that they ( the BOD ) & Tolga , but not the Market ( until now ) actually knew what the stock was valued only 18 months ago , and this is why he ( Tolga ) absolutely jumped at this opportunity.
And I must say while RGL might seem to some as an interesting phenomenon , I am not all that surprised myself that the Market has got caught out on the back foot in terms of ascribing a more appropriate ' fair value '
And without sounding to ' cliche ' , what I would have liked to have said in response to Tolga's tweet today would have been that great minds obviously think alike..... In addition to that , I would have also like to have said that whatever you may think of Tolga as an Investor and / or how he may or may not support the companies he selects - what I do like and think is a bit unique with respects to RGL and Tolga's new found involvement here is that they BOTH seem to represent the ' Grass Roots ' , ' Common Man's ' , and ' Ordinary Shareholder's ' type investment play. One for the ' Mom and Pop's ' and ' Poor Man ' if you will. And I say this because whilst the gains seem quite extraordinary in percentage terms , they are not ALL that much when measured by increased Market Capitalization and / or average daily volumes traded. So for me I'd like to think that this sets RGL clearly apart from others , and to that end why shouldn't the ' little Guy ' investor's reap such incredible rewards.
As I understand it , this is in fact Tolga's core essence as well. While he obviously has earned his rightful place in mining expertise , market intelligence , and even project folklore , his beginnings were from quite a humble background and one which was not without his own hardship experiences.
So from this perspective , I do feel as though there is something ' special ' , a unique connection with regards to RGL with his interest and support for not only the company but for all of his loyal followers and like minded shareholders.
So cheers to Tolga , and I hope he will stick with us for a long time to come......
(20min delay)