Activity lately and the OBV seems a little out of whack.
I mentioned sometime ago that if there isn't some form up actual factually positive announcement regarding this whole ordeal buy August 2024 then that is going to be a concern, and now this heavier then normal buying.
Probably see an open at $0.017.
@Oldgoldminer1 is correct to be honest, this won't overly correlate to any form on sustainable trend with the gold price until they have finance approved or the IDC funding and there is pretty much stamps on paper saying mining will commence.
FMG ( Fortescue Metals Group ) was similar to this for many years from 1995 to 2003, negative sentiment online ( around 2000 when the forums were coming online for stocks ) went from $0.0014 and with the Mining Right and it went to $0.07 cents.
FMG was a penny stock in 2006, Fortescue raised $3.7 billion, led by USA firm for a $535 million investment, making it the largest corporate bond transaction in the history of the Southern Hemisphere at the time.
This is when funding was complete in 2006 went from $0.27 to $1.00 ( got the above writing from an article from FMG to disclose honestly )
2006-2008 FMG went from $1.00 to $3.00 and then the rest is history with FMG as everyone no doubt knows.
There appears to be a very big difference between Twiggy Forest and Michael Q, however the project resource size at the 2012 JORC of WWI at 12,000,000 ounces, if it has the ability to be upgraded heavily, could warrant a similar story ( with funding ) and they open there own processing plant as they have indicated they intend on doing if they want to do 200,000 ounces per annum + goal.
Waiting game now, August 2024 is the timeline for me so I am hoping this volume is related to news around that timeline and progress.
Good luck to all, see how the next 6 weeks plays out!
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