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Bitcoinkid

1,423 Posts.

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14/05/24

14:18

Post #: 73816937
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Originally posted by MostPalone: ↑

Ok lets have a look at the facts here.

Over the last 2.5 months, share price has increased from 0.2c to a high of 5.4c yesterday.
In that time, this is the first pull back we have seen. I think this has left people a little startled as we're all used to seeing M4M green in the portfolio every day. I would have expected a pull back sooner, nothing ever goes up in a straight line.

Could this have been a pump and dump? Of course, there is always the possibility of that.
Do I think thats the case given the facts? Absolutely not.

You have the directors and board buying up massive amounts of shares and to this date have not sold any, despite being up 2000% as of the current share price.

You have highly promising ground that is set up ready for mining, with easy access for haulage to ports.

You have the man running the show with 12 years Iron Ore experience at Mineral Resources.

To me, this is just a pull back that was always going to come after a 2500% rise in 2 months. The sell down volume has been very low. I suspect this is purely just a breather and a tree shake in order to cap the price and soak up more shares.

I could be wrong but I will not be selling any shares. I see still a 10c target on this short term.

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I’m reloading @ these levels

Last edited by Bitcoinkid: 14/05/24

M4M Price at posting: 3.4¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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