No better chart … no more obvious breakout, page-121

March 1 heralds another new brick coming into my charting wall

The important technical points that I am watching are

- the stock is in a solid uptrend provided it stays trading above 7.8 cents (being the amended monthly long term moving average line)
- expected trading range in March likely to be 9 - 12
- the set up could be viewed as shaping up for an explosive move upwards April/May/June
- the volume bars at the bottom demonstrate the extent of professional accumulation given most was bought by one broker

The catalyst for that next move could come from the start of underground (portal) development (possibly as early as March 27), further high grade explorations hits, operational and financial improvements expected to be outlined in March 31 quarterly report.

Once the financial picture is clearer to all, other institutions will be coming for this stock and there is always the outside possibility that Hawkes Point could do a ‘friendly’ strategic corporate deal ‘out of the blue’ , at any time.

OBM continues to trade at a very big discount to replacement values, it’s now operating a refurbished plant to nameplate 1.2 mtpa, largely debt free, huge tax losses, large unexplored titles with historic pits, and has one of the best underground mining managers in the business at the helm.

gltah