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clock Created with Sketch. 29/04/21
14:11
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Originally posted by TheArchitect:
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What a strange reaction to yesterday's Quarterly Report, definitely an over reaction and more stupidity than strange I might add....feels like a few holders wanted to dump out and took the market by surprise and didn't take much volume to do that, trigger a few stops and that's how we ended up here. The volume now is all the buying taking advantage of this drop and liquidity, definitely a prime buying opportunity in my view at these prices. On a technical level; not that there was any real gap but now there can be no qualms about it, with the open/close gap at 6,8c now closed and we are left with a gap today between 7.3c close yesterday and today's 7.1c open. Long tail of the candle rejecting the 6.2c it triggered down to and bounced off a key support level of previous support and accumulation zones prior to the last breakout. Combatant has work starting in due course and that should be an interesting project as there seems to be high potential for PGE-Ni-Cu in the area, so I'm looking forward to that developing and even Gladiator as well with some Gold but I'm really here like everyone else for the what could be the next CHN in the making with Calingiri tenements. The Wubin projects were never of any interest to me so if that's why others are selling perhaps they need to go look for an alternative money making venture because clearly they have no understanding of the sharemarket and investing sector. The two Calingiri projects are what will drive value here, with the Calingiri East showing exemplary promise and potential of a CHN Julimar 2.0 however like in the activities report, I'm very interested in the Calingiri West tenements; especially that CROSS piece we have right around DEV, which they have (as noted in the report) shown highly promising results and that C.West is very close to Julimar. As much as I don't like to see sell downs, things were getting edgy and stale, so we needed a good shakeout and get rid of a the traders lurking, loose hand CR holders and have a good cleanse. Look forward to the drill testing at Phil's Hill and analysis reports to come from there and from Calingiri West. $9.1m cash in the bank that sets PUR up for a long while
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Agree architect. Some nice buying happening and hopefully a close in the high 6s or more, would be a nice hammer candle. You can see that logic here is misplaced. With just cal east results we hit a market cap of around 80M, and now some unfortunate Wubin news and we are around 60M. The drop from 9.2 to 7.2 really should have seen Wubin news well beyond priced in, but some people are quick to sell at the first sign of anything bad. Yes agree chief, aem data could be a while away, it only makes it worse when people are expecting it to drop right away. The language on the announcement suggests it isn't within these 2 days at least.
(20min delay)