Unfortunately,I was stopped out today.Not a bad result for a few weeks work,but not the GREAT results I was hoping for.No point hoping in this game I guess!for me it was a matter of using a fairly wide moving average to try and allow this stock some freedom to move as I think it has GREAT potential...Still do.But a profit is a profit,and I can't afford to let it disappear.Now it will be my challenge to re-enter....ugh!
I was hoping that upon today's announcment that the stock would get 'legs' to surge past the .064 cent level and achieve new highs,with plenty of announcements for it to keep running,with a target of some .30 cents.
30 cents...yes 30 cents.....based on the fact that compared to it's peers,who may I say are out of favour at the moment,it is valued at .17 cents and with a target of 6.4 B tons of resource should see a valuation of .25c.
But the BIG price catalyst,I believe,will be some sort of progress on a Rail network for Botswana.With a private consortium interested and a Government keen on the idea of Coal exports,it should only be a matter of time b4 some sort of progress is made.
Just remember,Botswana Coal stocks are out of favour at the moment and that is not helping NMR.Keep an eye on CIC(TSX listed,code ELC),AFR and news for railways in Botswana.NMR's day will come and with any luck mowibble's chart holds true.
NMR Price at posting:
5.1¢ Sentiment: None Disclosure: Not Held
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