I noticed that also, the buy/sell ratio started to improve yesterday and has further improved today. The selling pressure eased yesterday and looks like it has eased even more today.
It appears it has formed a solid base here, at these prices IMO is considerably under priced and it will rerate gradually when you least expect it, I wouldn't be surprised to see it back over 10c in the coming weeks, with no news.
In the next 6 months a lot of positive news can be expected:
- more drilling results from its Cross Fault high grade shallow discovery
- more drilling results from the deeper sandstone rock, potentially expanding the gold discovery considerably
- finding more Cross Faults Gold discoveries
- extending the Paleochannel discovery which has a potential strike of over 4kms
- upgrade of the current resource of 260,000 ozs
- drilling of the highly prospective Patricia prospects
- drilling of the Niobium prospects in Brazil located next to the biggest Niobium mine in the world
- fast track development of the HL mine, via a trial open pit mine aimed to achieve cashflow positive operation in the near term
A lot to look forward to in the next 6 months, I have held for 2 years now and if required will hold for another 2 years, if required to see the full potential and value of Mulgabbie achieved.
Good luck to all holders, DYOR.
