re: Ann: Gold Mineralisation Discovery at Bur...
This selldown on high volumes is unexpected (see my previous post on charts)
I expected the high volume but i would be thinking we would be at 0.7-0.8c by now. Given the depth, if we had normal market mechanics, i reckon i would be reasonably spot on.
The news is good but not fantastic. However, it is moving towards a positive direction. A possible reason for the selldown is that i have noticed a few posters questioning the validity of EDM funding and doubts about the company.
One has to remember this is a speccy company with good assets with a low market cap and at an all time low. The high volume selldown (2nd highest ever for EDM) together with failure of "EXPECTED" technical price rise to 0.7-0.8c indicates accumulation.
Given strong support at 0.5c and significant interest and buy-up at 0.6c on open today, i got myself another 10 mill at 0.5c at the selldown as my expections were for a close of 0.7-0.8c given the almost 2 to 1 buy sell depth at some point today.
I would put EDM as one of my best speccy atm.
EDM Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
