When tour made its move last week quickly up from 0.6c to 1.6c and then dropped back, it thought the new support level was around 0.8c but it seems to be at 1c to 1.1c with support coming in at this level.
I am also interested to see how it goes this month as they stated in their last update from 29th May that a) Metallurgical results would be in the coming weeks. Results are expected within 5 weeks of this announcement. This means we should see them before end of June. b) They also stated that a number of parties were in detailed due diligence regarding funding options for Mofe including well-funded iron mining and resource investment companies.
So with the expectation of some metullurgical results this month and maybe an update on where the interested parties are, we could see some re-rating. Exciting times.
TAW Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
