The RXM share price dropped sharply from the resistance line at 0.45 to the support line at 0.35 at which time the Williams%R indicated "oversold." The SP seems to be starting to creep up again. This movement looks like it followed the recent copper price movement below the resistance line at USD 4.6775 and then moved above it.
Once again, the RXM SP seems to be independent of the gold price, which has broken USD 1900 again and is approaching resistance at 1910.
I wonder if this independence is about to change. I noted in a recent presentation by the CEO he said, when talking about the Hillside project, "You would think that the Government and bankers would be knocking at our door.....Not so much." Then shortly after he said "
Hog Ranch remember the name
Hog Ranch."
Was he intimating that good results are about to come from the drilling at Airport, soon to be released? I hope so.
Perhaps a sufficient increase in ore reserves at Hog Ranch will make the market take note of RXM's gold prospects and stimulate the SP.