MGT Chart 2021, page-613

It is devastating to see the SP plunge, particularly in the last 2 days which I wasn't expecting. I know it is very hard to comfort ourselves at the moment with nearly 60% plunge from ATH. However most of us always knew that this is a long term play and volatility is going to be part of the journey. It is bit of shocking that it happened on the back of positive PFS with 20% post tax IRR at the low level of production. And utilizing 8.67% of the total indicated and inferred resources. But market is market and does what it wants to do. Can't really win the market. The comforting aspect is it will go up at the same speed as it came down with one good announcement. When that announcement will come is unknown but I am hoping it will be before October so the ODs come into play. It could be something like an offtake agreement or JV partner or any other non binding agreement at the least,

Since we broke the support at 4.2c, next support is 3.7c. Looking at the daily chart though, I see multiple confluences at 3.7c.

Previous resistance now should act as support.
3.7c is also Fib retracement level at 61.8



Slight OBV divergence




Massive RSI divergence
RSI in oversold territory.


At 3.7c, market cap is around $115 mil which is roughly about 17% of NPV reported in PFS. I am confident that this is the lowest MC. We should consolidate between 3.5c to 4c for sometime before any announcement. I am freeing up some capital to load up at this price.

GLTA.