The pennant (compression triangle) shown in the plot shows, I believe, the market anticipating the Sal de Vida NPV update which Mr Tse said recently would be released in June. (pennant apex is end of June). The pennant breakout to 51.5 cents (Near the Canaccord updated target of 54 cents) was premature and due to the unexpected announcement of the GXY-GMM merger. (IMO)
I think the price of around 61 cents predicted by the pole height will be achieved once the new S de V NPV is announced - hopefully in the next few weeks.
GXY Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
I think the price of around 61 cents predicted by the pole height will be achieved once the new S de V NPV is announced - hopefully in the next few weeks.
