STTCOMP VMC TA LONG Shares- 69,636,623 M/cap- $14m approx...

STTCOMP VMC TA LONG

Shares- 69,636,623
M/cap- $14m approx



Not sure how helpful charts are on stocks which are as illiquid as VMC, but here are some points which might be worth considering:
1 - 28/10 was highest volume day since May
2 - noticeable increase in volume for past 3 week period
3 - resistance at 20c. Came close to breaking through on Friday but not quite.

I am treating VMC as a momentum trade. Was much discussed months ago when the junior Li explorers were busy. VMC did go for a nice run, but management didn't seem to show any interest in drilling holes, so punters got disillusioned. Has been in the dog house since May.
A recent announcement (which I can't find right now) quoted a director as saying "now is the time for action." I'm taking him at his word. VMC has funds, 3 active drilling programs and what appears to be some concerted effort by management.
Drilling has just started, and so has the interest in the stock.
I have never seen VMC trade with serious volume. Some encouraging results and this could go very nicely. With only 70m shares on offer, it won't take much.
I'm expecting a retrace in the short-term. Watching for a break through 20c with volume. The oppies (VMCO) might offer some crazy trading in the coming few weeks.
All the best