"Looking at charts sideways and down"
Ok, let's actually look at the chart because I see much more than sideways and down.
I see plenty of moves up as well as moves down. Importantly, every major move up has been larger than the following major correction back down. The big bear market correction was the largest and longest correction but even the bear market did not drag the sp back to the previous major low - and that was a big bear market.
For traders, the time to sell has been after a strong run up. The time to buy was after a correction that has always stopped at a higher price than the last major low. Chances of the sp going back to 7c are therefore very low based on the chart pattern over the last three years.
Based on the chart, we have just had a big correction and the sp has started to stabilise around 11-12c so the next major move from here is more likely to be another large rally and most likely larger than the correction that we just had.
Fundamentals also suggest that this is a time to buy, not sell and fundamentals also point to a large move up from here. In fact the fundamentals point to the one of the best moves that we have seen in the last three years because this time we are much closer to production and that also means we should see increasing news flow. There has been a gap in news since the quarterly a month ago but once funding is secured, the construction period is short so updates ahead of production should come thick and fast.
If we get the non equity funding that the company has discussed, then instead of buying a few cents lower, traders will be paying a few cents more to get back in and then chasing the price higher as the news flow accelerates.
IMO, forget selling now. It's too late. IMO, it's time to buy.
