NRM - Yes has broken its downtrend (on 5 min chart) with a close a 0.046c. So it has retraced down to the 50% level approx and bounced off it ...which is coincidentally same retrace low point it reached (0.044c) on the 1st day of the spike.
Watched it all the way through the after market auction and there was no evidence of sellers wanting to sell down...in fact no evidence of sellers at all below 0.045c I suggest we are at or very near seller exhaustion point for this retrace.
A compelling buy at this level IMHO they have a maiden Inferred coal resource 4.2Bill tonnes which is almost double their nearest peer in the region. They have recently started a drilling program on an adjoining property to the existing Jorc so you can expect the resource to increase from here. Massively undervalued in MCap terms (currently $15m) to its peers who are also looking for Coal in Botswana (see: AFR.ASX, HDG.ASX and CIC:TSX).
