HMX has significant gold at the Kalman site. The current price of gold must influence the economics of development in anyone's language.
The gold price maybe related to the the accumulation taking place as demonstrated by the weekly Weinstein analysis which is in Stage 1. Copper will rebound as a commodity staple. Always does. Stage 1 is typically a strategic market manipulation period where brokers and position traders get set for bigger things. This is view is supported by the weekly MACD too.
To me, the daily chart reveals more market maker operations, where Friday's trades dropped price on a low volume markdown, as a test within the trading range dominating since July 24. It is what it is, but the breakout seems to be nearing as indicated by the longer timeframe wedge on the daily chart. The price also terminated on a Fibonacci number within HMX's trading range which is likely to be a result of market maker operations (which I have circled) and represents a discount buy entry for position traders or maybe clients. The lower price in the background, (July), was the bottom IMO. Like everything, charts are not foolproof and I place more emphasis on the weekly charts with HMX trading patterns. Keep a close watch on volumes and twenty percent tickles in volumes going forward.
GLTA
