Start with chart The first triangle was when we were stuck in the ascending triangle. We broke out of that pattern in the first circled area when we received news on the mine being "shovel ready" the target from that break was 3c but overshot considerably to 4c. The next pattern emerged, looking awfully like a cup and handle pattern, notice the size of the candles decreasing in the handle. The second circle is the next leg up which came with the announcement of the OCC purchase. This has gone through 2 definitive accumulation phases, each lasting approximately 6 months, someone has been very patient. This now appears that ORN moves on specific news but i believe their is definite pressure on the SP to the upside. Do we need news or are market pressures enough?? Target of cup and handle now 5.6c but perhaps an overshoot like the previous run. IMHO, this chart screams buy but not investment advice.
I looked up the updated BFS on 26/5/20 and our project projections were based on copper at $3.03US/lb and zinc at $1.06US/lb Current prices are $3.93 and $1.29 respectively, an increase of 29.7% and 22.3% respectively. Both commodities are in a bull cycle. Does anyone know how to plug the numbers into our BFS and come up with a payback period and overall project economics. The best part about the increase in prices, its all cream.
At what point does an interested party step in and buy us out, 1 of the few copper projects ready to go. At what point does the SP need to be before this happens?
ORN Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
