SOI: 1.384bill with T10 holding 40% and mgt holding approx 4.4%
Cash: "at September 30, 2019, Sunstone had cash of $4.35 million, plus, as announced on October 11, 2019, Sunstone received a further $0.78 million from Copperstone Resources AB as the final Stage 1 cash payment for the sale of the Viscaria Copper Project" Est spend Q4 was $2.929mill". So should have approx $2.2mill moving into Q1 2020 if est. spend was met. Might expect a raise before qtr is out as they seem to 'blast' the cash on exploration spend (not a bad thing at all). Last raise was well above current levels.
Hit yr lows yesterday with price crossing lower BB. BB's are squeezing up again indicating possible trend shift. SS slowly moving into bullish trend suggests price may be looking to reverse. Drilling results upcoming soon and I'm expecting this to bounce as value hunters move in........first target off any bounce is upper BB cross at approx 2.0c. Worth noting the gap down from 4c to 3.6c on very lrg vol around July might act as future target on positive rebound. Another gap down late August on lrg vol from 2.9c to 2.5c also worth considering as a rebound target.
Highly reliant on next drill assays (which are overdue) delivering some decent hits but seems likely imo (binary play atm good results this goes well and bounces nicely, bad and it flounders etc). Well oversold recently imo and likely to move soon to the up after crossing lower BB, may flirt with a further volatile move to test lower levels say 1.1-1.2c but again I would expect solid value buying action over this at such levels as punters look to cash in on anything positive being delivered re latest assay results. I would ideally like to acquire this off any further push lower but think it's worth considering at these levels. DYOR of course.
Weekly shows the strong down trend in play. But SS in well oversold territory, and perhaps looking to offer up a slight bullish signal, again I might expect a further push lower to test the lower BB here at around 1.1c then solid bounce. Volumes are generally below 50MA recently.
