Rogues Trade...
Unless you need to pull your money out for some reason, there is no need to make a loss on this one...even for those who bought at 18c.
The low close today was actually good in my view...we get a long upside shadow (which is bad), but the lower close helps ensure a higher open tomorrow...which is a very good outcome.
If this thing holds up between 14-15c after the first 20 minutes or so, or better still, trades above 15c in this time, then we will effectively get a continuation rally into today's shadow, with 18c a likely target within a few days.
On a weekly basis, I expect today's high to become the new floor within just 2-4 weeks.
Patience here should result in significant returns, with 50c not expensive by a long shot given their likely recurring income and potential for significant upgrade to the resource.
Mini-cash cow for the next 3-4 years...means no dilution!
By the way, they have more than just this now producing Namibian resource.
Cheers!
BON
bonaparte diamond mines nl
