Good Volume Yesterday, page-40

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thecrabpest

2,384 Posts.

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03/02/22

10:48

Post #: 59323557
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Originally posted by thecrabpest: ↑

I appreciate many people may have bought higher than the current price, but yesterday was a good day for price and volume.

Although I am expecting some sort of pull back in the near term (especially if IO falls further), I am going to start making monthly purchases to continue increasing my stake - and hopefully averaging up, rather than down.

Whilst mining probably 3 years away, hopefully the IO price bounces back before then, and as these milestones get delivered I'm confident this will start to climb.

Depth dried up for a bit when that large order went through in the morning, and whilst we have had support around $0.20, hopefully we can see an incrementally higher base starting to form as we get closer to final assays and maiden JORC resource.

The obvious catalysts for the SP and Volume increases in the last 2 days were the investor presentation to discuss the drilling results with Peter from NWR Communications

And also this article on Stock Head which I came across via the Akora Twitter (click the link to read the full article and give them some love)

The article states:

"Akora says ‘Bekisopa’ shaping up as one of the highest-grade iron ore projects globally"

“I have to say that in all my experience in iron ore exploration and development I have never been more excited with a project as I have become with Bekisopa,” AKO managing director Paul Bibby says.

“The grades, the depth, the extent, the quality of the iron mineralisation and how readily upgradable the iron looks to be, has all been even better than what I anticipated.”

“During one of the most trying periods in decades, we have completed an extensive and hugely successful campaign of drilling discovery and now, with the amount and analysis of the data, I’m confident that AKORA will deliver a good maiden JORC Resource.”

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It has been a couple of months since this post / thread, but for all of the volume and price increase, the crazy thing to realise is we still only have a $22m market cap.

I think a $40m market cap could easily be justified (and sustained) post maiden resource announcement (despite any hype or spikes).

AKO Price at posting: 38.5¢ Sentiment: None Disclosure: Held
6 Upvote

0 Great analysis

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