Fundamentally, MOX is a grass-roots exploration play...with ground in the "right jungle" and now, thanks to recent survey results, a subteranian paleochannel system running straight through one of their tenements...of significant size and coursing through some very prospective areas.
They also have various other propects with proven discoveries, some of which contain similar geology to that found in and around Olympic Dam.
They have over $4.7m in cash, a very tight share register, are recently listed with very little baggage, are in a hot sector and still have a relatively low market cap compared to their peers.
Technically, we have seen two very significant days, with record volumes and a breakout through a significant number.
Volumes are significant given the tight share structure, with some 4.28m trading in just the last 2 sessions...there is every chance this is approaching all available shares in the market.
The ingrdients are there for a rapid price rise...but it doesn't mean it will necessarily happen.
Cheers!
MOX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
