Yoplait this is really only the first day of significance in this latest run for LRC. If we are to see it remain at 2.0 cents or above today I am very happy, I have no doubt the substantial increase in volume today with a slightly rising share price will do wonders for LRC on the charts, and the chartists out there doing their homework will focus on that over the weekend. Generally the chartists that trade do so with less intention to sell than the daytrader market that has probably come in for a quick point or two and now either fled or ready to exit before the end of the day.
I am in neither category, I am interested in the fundamentals of LRC, bearing in mind that it has already got a substantial resource of silver which in gold equivalent terms is just under 1 million ounces - and its capitalised (at 2.0 cents) around $20 million, that is absolutely peanuts. It can still run up to 3.0 cents (close to its previous high in the last run) and have next to nothing in market cap terms!
And the new project, which I understand is more a high grade gold project with potential for multi-million ounce gold deposits will add another dimension for LRC.
Why sell out because the quick buck traders are getting out - they will only be chasing up as it breaks new ground in coming days.
I am confident that Monday will be a good day for LRC if it remains at 2.0 cents or above today!
LRC Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
