In any case I really love the chart and the consolidation this...

In any case I really love the chart and the consolidation this is going through in the lead up to the acquisition. I said it on a previous thread, it looked like it had formed a base, and all that was needed was for a nice new project to be picked up and with a low MC and good looking TA, this thing would be ripe for a re-rate in the event of any relative success with said new project. Meaning it wouldn't have to shoot the lights out in order to multi-bag. Solid resource growth or uncovering something with solid economics could easily lift this thing to a $10m-$40m MC in the short term - which on the chart, would be at the next couple of key resistance levels of 1.5c and 4.5c. Very gettable IMO.

The base has formed over 6 months which bodes well, clear bullish divergence on both the RSI and an accumulating OBV indicating strong support from smart money. The project ticks the boxes in terms of having the right macro themes to support any attempt to rerate on the back of positive results - macro theme being Copper which is on the verge of a long term breakout. Indications are that exploration work will start in June which is relatively near-term hopefully providing some opportunity for short term success.

Then of course the ultimate best case is they do shoot the lights out and smash through the next two resistance levels should they find something that can give them a $200m MC ie share price circa 20-25c. From looking at the price action it appears the market is giving them a chance with a new team, and a new project. The market is saying ok, valuation is attractive enough to make for a good risk/reward proposition with just enough prospect of that elusive blue sky.

Also has the nearology factor which obviously doesn't guarantee anything but when the proximity is supported by additional factors like same geological structures, existing exploration data, and strike extension from known deposit into exploration patch, it adds further layers of confidence. And according to announcement Prescott is showing same geological structures as Storm and is directly along strike from Storm. Well worth a punt IMO. DYOR

GLTAH, hopefully it all works out.