Given the interest this stock seems to be getting at the moment I thought it would be good to have a thread which summarises LSR's details. I brought last week on the break of the resistance of the consolidation band and are more of a chartist so if someone else can add details of the company's fundamentals to this thread too that would be great.
Company Summary
- Gold explorer with drilling commenced in mid March 18 after some good hits late last year. Current drill results expected in April 18 with more drilling in June 18
- Current MC $22m
- SOI 726m, with 120m options exercisable at 3c by 31/10/19
- 20m unlisted options exercisable at 5c by 31/12/18 and 7.8m unlisted options exercisable at 6c by 30/12/18
- Top 20 hold approx 51.5%, including the chairman who holds 26.5%
- Chairman recently brought 3.3m options on market in 3 purchases over Jan/Feb 2018
- Oversubscribed CR done in late Feb 18 for $2.07m @2.3c to fund the drilling campaign
- Mac Equity who did the raising paid with 5m unlisted options exercisable at 5c by 31/12/18 so incentive for them to pump the SP up significantly from current levels
Chart
View attachment 1040710
- Nice looking chart where SP has consolidated over the last 2+ months between 2.3c and 2.9c with very low volume with a shakeout on 23/3/18 down to 2c on above average volume but closed back within the consolidation band
- Support of the consolidation band has been at the fib 50% retracement level and this has held well with price bouncing back up off it numerous times
- Late last week price broke through the resistance level of the consolidation band at 2.9c and back over the 60SMA on the strongest volume for over 2 months
- Rising OBV
- Rising RSI but not in the overbrought area
- Next resistance is at the recent high of 3.6c and then the 5c resistance from 2016 comes into play
- Todays volume anlaysis 'shows strong buying again
View attachment 1040722
(20min delay)