I would not be trading (buy/sell) RXL right now.3 reasons why I am only buying and wouldn’t risk selling.
1. We are about to start receiving a series of exploration results for a huge number of drilling samples with multiple rigs spinning to keep feeding the lab..
Graph indicators say sell and we get an Ann with high-grade gold hits and the indicators become meaningless.
2. The price of gold explodes upward as is now the consensus prediction of UBS etc.
Goldman Sachs: #Gold Price Forecast jumps to USD3,700/oz by year-end and highlights a potential upside of USD4,500/oz.
Not long ago, only crazy conspiracy theorists talked like this.
Long-term forecasts are also very bullish.
The price of gold is expected to experience significant market volatility over the next 5 years and reach USD 7,082.00, recording 119.72% growth by 2030 when Youanmi will have been in production for 4 years.
3. CEO Phill Winding has just completed a very successful global investment tour Rottnest Conference, Swiss Mining Institute conference in Zurich, London, New York and Toronto Instos and high private wealth individuals he recruited do not rush, they conduct a thorough due diligence.
Hawke's Point took two months to conduct due diligence on the Youanmi Gold project before they invested.
Investors are now wrapping up their due diligence and concluding that Rox is the most de-risked junior on the ASX not yet in production.
They are buying in at volume, watch for the cross trades..
(20min delay)