Hi Niako. There is certainly a technical argument to be made...

Hi Niako.

There is certainly a technical argument to be made that it could get a few cents lower to .28c based on trend analysis but my gut feeling is that it is basing around here for a nice move up. It has only had incremental moves either way recently following moves in Gold price with comparatively lower volume.

No big upswings or down legs. Very positive for a mature move upwards after forming what might be a pretty short term base.

You don't have the usual extreme short term traders pumping and dumping either with this type of price action.

One bit of decent news should be the catalyst not to mention the plethora of macro issues facing the world at the moment.

SBM, NST and NCM are great Aussie goldies but a lot of the next move for them has already been priced in. SLR has the X factor at the moment which I like more daily. When it does move, it should be pretty big as there is a heap of room in MC to expand and new acquisitions to their portfolio to be earnings accretive in the short term.

IMO DYOR