Think you have to base this on fundamentals not technical analysis.
If BLK produce 100,000 oz with a margin of $500 AUD, then there will be EBITDA of $50M. It could then trade at $300M - $400M market cap. That is currently $1.06+ per share.
On 200,000 oz that is EBITDA $100M and will trade at $500M - 700M market cap which is currently $1.75 per share.
BLK has not poured its first gold yet, so I think a discount to $300M is justified.
All gold stocks are down today, including NST which has a market cap of 2B AUD.
US is heading for a rate rise which will see gold fall but at same time aud will fall as USD strengthens.
$1750 AUDPOG should remain.
I see next stop $70 cents - 73 cents. Good buy if you hold long term.
BLK Price at posting:
76.0¢ Sentiment: Buy Disclosure: Not Held