It goes without saying that Chalice has been a big perennial favourite stock of 2020-21, as it was such a wonder that it generated 5900% return from 17c at the Covid lows of March 2020 to $10.17 at its peak in Nov 2021. A $10k investment in March 2020 would have reached $594,294 by Nov 2021!
...but because long term holders would never sell their stock awaiting production, held till today, that $10k is worth just $59,411, about a tenth of what it was at its peak.
...At the time JULIMAR was a favourite word and every miner with tenements close to Julimar experienced the nearology effect, swept up on the face of the prospect of more PGE finds.
...even recently CHN was bid up t0 $1.30 as market participants felt like buying a 'bargain', when looking at its previous high. To get back to its previous high, it would require a market cap north of $4B at least, given likelihood of more CR ahead. In just 3 weeks this March, CHN went south by -25.7% from its $1.36 price in early March.
...hence the dangers of picking bottoms in stocks that are still fundamentally struggling.
...watch the 5 year CHN chart and you still an almost completed Bell curve XMas tree, Nordique retracement....many stocks that have begun their Xmas tree formation are likely to complete full retracement before bottoming.
...CHN could bottom in the 90c or could go even much lower. Its not a good place to be now because a Wall St correction would likely send it below 90c.
...IMO there are merits in selling first with the view to buying back when the stock is ready for new glory or when the sector is prime for recovery.
