It's been quiet for a while. Technically it has broken a support at 17.5c but rebounded each time. On a very short time frame chart it could even be argued that it has made a double bottom at 16.5c.
The very sharp uptrend from when it began its run last year has also been broken.
I'm very positive on the stock but because of the shorter term charts I am keeping a very careful watch. On a long term chart it looks fine - 5yr line weekly close, 10 year line, weekly close.
At least we know why the stock weakened - because some in the market wanted the company to truckload tonnes of ore 28km for processing. It looks like the company has made the right decision not to go ahead with the purchase of the old Renison treatmment plant and then have to modify it. Their decision it will not particularly delay things and will lower costs.
There could be some drilling results out shortly. Also what the market at present does not seem to understand is the company has leases over what looks like a brand new nickel province with excellent prospects for continuing discoveries. ==================================
Do your research and note the disclaimer below.
AGM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
