GDay all, AEM. Acquired Thailand coal project with JORC resource estimate & FS already done, mining approval soon to be granted (expect these ST news before company considers share consolidation & raising more cash). Placement done at 1.2 cents, so not much downside from current level. Once approval given, it will have immediate cash inflow as customers already lined up. keep an eye on volume.
GBP. Spudding as early as next week, consolidated well around 20c, breakout soon?
LSR. Acquiring massive tenements in the Doolgunna area (check Jan21 ann for location map C definitely some handy location). With only 50ml shares on issue, MC of 5ml @ 10c, cash of 2.3ml at Sep Qtr, so EV of only 2-3ml for very promising exploration upside potential seems to be a significant undervaluation. The market should soon wake up to its potential.
ROG. 8 TCF potential, spudding this Fri. Majors drilling nearby. Still sitting around placement price of 3.6c & right under the downtrend line. Breakout of 4c on strong volume will be very bullish.
RTL. GM on Fri, so some buying interest could return in anticipation to the meeting & possible news? Charts also show a reversal could be just around the corner. Sharp drop in selling volume (sellers may have dried up). Slow stochastic indicates oversold (but not crossed yet). The negative divergence on MACD diagram could soon make a positive turn. Still waiting for the buying volume signal to confirm reversal. Currently sitting right on support trendline & 1.5/1.6c is the 61.8% retrace level from low of 0.6 to high of 3.2, therefore holding 1.5/1.6 support is essential.
RER has made quite solid gain in the last 3 days. Charts show a nice rounding bottom (pending confirmation of breakout of 7.2/7.3c). However, it looks a little overbought now, so trade with caution.
SGY bit unlucky. Had strong gas shows which worked against the drilling process. Waiting for company update re re-entering the well. Could be a solid performer for medium to LT, but inevitably ST pain for holders.
Also watching possible ascending triangle breakout in strong volume on ARO, CEO & MMZ
