daytrade diaries... january 29, page-4

Thanks HLL & PJ
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.

LSR. Acquiring massive tenements in Doolgunna (check Jan21 ann for location map ). 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.

MMZ. Finally decided to buy in yesterday as the big seller seemed all done & chart signals a run soon. Slow stochastic is down to oversold level (on 5,3,3 ST Daily charts) & could turn up to cross soon. MACD hasnt crossed but I like the fact that the huge selling pressure 2 days ago failed to break MACD diagram low, so a positive divergence could be on the way now. 1.1c is still the major resistance to break, need to watch volume too. Breaking 1.1c will complete the ascending triangle breakout, ST target of 2c on the cards.

ROG. Spudding news today should finally get it moving.

RTL. GM today, news soon? 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 & just turned up (pending cross confirmation). 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 1.5/1.6 support should be very strong.

Silly selling on GBP in reaction to 2 weeks delay on spudding, still a very good BESBS play. Buying interest should pick up soon.

Also watching possible ascending triangle breakout in strong volume on ARO & CEO. LOM (African diamond play) & CAG (acquisition of gold assets) saw huge volume lately. Worth keeping an eye.

GL all
JL