On a pure technical basis there are some very interesting price and volume movements here. There are 4 recent volume peaks of note. There was volume peak after the court decision and another accumulation several days later. There was a failed 'test' about 8 trading days ago and another 'test' 4 days ago indicating supply has dried up and demand is now outstripping supply at these price levels. Refer back to the current market depth and this is verified. The buyers side is very strong and it doesn't look like these are 'dummy' bids to me. Something is afoot. It may only be a bit of a 'pump and dump'. However there does not seem to be any mainstream pumping going on so I would suggest there is something real but undisclosed going on here. Given this company's history of nondisclosure to the general marketplace this could be the case.
If I had some extra cash at present I would be tempted to buy some. However I would also suggest that I am making some big assumptions here and any buying at these levels would be a pure gamble, especially in the light of the recent court decision. I am just presenting some food for thought.
I am wondering if anything else could be happening in their zinc project. Or maybe there could be something else happening in Namibia. Time will tell.
DYOR...
MLS Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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