To be fair, hardly any volume has been going through. Average daily volume through ASX this past month has been a measly 147k. OZM is highly illiquid with a wide buy/sell spread. So even if you wanted to exit with say a standard 100k parcel, you really can't without sending the price down at least 20%. Currently, the bottom seems to be in at about 0.04 and it has trouble staying over 0.06. So if we ever get upside, resistance I see is at 0.06, 0.08 and 0.10. Hopefully if we ever get back over 0.10, I'm sure the traders will then run it back up to 0.20 like last time. I can't see it staying at or getting over 0.20 without a positive market release of substance. In this market environment, for an explorer to hold a $40-$50m market cap, it really needs to be along the way to decent discovery.
OZM Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
