Short Term Trading - Weekend Lounge: 30 Jun - 2 Jul, page-62

I picked up some AGO today. A quick run down on AGO for those thinking of trading the I/O price spike;

SOI: 9.26B
Market Cap: $130M @ 1.4c
Cash: $108M
Debt: $112M

Options
1.74B AGOO expire today
4.51B AGOOA expire on 31 July 2017

Lithium
Atlas sold a 51% interest in the exploration licence covering the Cisco prospect to Pilbara Minerals Ltd (PLS)

Corunna Downs
Atlas announced that it had approved development of the Corunna Downs Project. Construction will be funded from operating cashflow following amendments to the Term Loan B facility. First shipment of iron ore from Corunna (4-5 year mine life) is planned to commence in the March 2018 quarter.

I was thinking of tipping this but I'm not 100% sure it can get the 25% in 4 weeks. It should be good for a trade though.

Technical Analysis
Largest volume days in over 2 months in the past 2 days. Price closed outside upper bollie band but more importantly above 50MA. Darvas box looks to extend up to 1.8c so probably still some time to grab 1.4c and ride it to 1.8c.