The steady climb to 8 cents from around 6 cents over the past 2 months has resulted from investors consolidating positions leading into the very important period ahead (next 5 months)for Tectonic.
The excellent drilling results and robust scoping study saw the share price spike to 9 cents and then fall back after the well supported 5 cents rights issue. The move up to 8 cents is now underpinned by solid belief in what is about to happen at Phillips River.
The selling side of the market is now starting to look pretty thin. Rights profit takers have been weeded out so any positive news from here could see a substantial rise in share price. The rise should hold up well with the forthcoming bankable feasibility study now only about 5 months away. There is usually then a bit of profit taking after that, but post feasibilty study a share price as suggested by chartist opsm1984 of 15 - 16 cents should be eminently sustainable.
The critical issue to underpin the share price after that of course will be where precious and base metal prices are sitting as Tectonic moves towards development at Phillips River. However, this is a long term project so no doubt is will go through the normal price cycles that miners have to deal with.
Loyal Shareholders will be rewarded for their patience over some tough years as management maintains their focus and efforts with the "Company Making" Phillips River Project
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