time to buy in ardrossan, page-3

Friday night over a few beers an acquaintance told me that RXM are buying any property that comes on the market at Ardrossan. He has a holiday house in a small town nearby and knows someone with contacts in the business. Adelaide is a small town in itself so the grapevine is normally healthy.

However...I treat most things that this acquaintance tells me with some level of skepticism so I decided to look into the claim a bit further.

Realestate dot com shows me the following stats for Ardrossan:

1) 47 properties for sale
2) $205 000 median house price (down from previous highs)
Note: Or you could buy over 0.25 million RXM shares!
3) 20 properties sold in the last 12 months
4) Some properties have had thousands of page visits and remain unsold.

So make whatever you want of that. To me it just sounds like a good rumour which may have some element of truth.

What we do know for fact is:

1) RXM have the largest undeveloped copper resources in Australia
2) The mine is close to infrastructure
3) The water supply is sorted
4) The company have set up shop in Adelaide
5) The state government look favourably upon this project
6) Acorn recently threw in another 7 million to buy the shares at 0.85c
7) I threw in what I could afford to buy some more today at 0.79c. Could not resist.

Finally, I am not much of a day trader but I am finding the trades on this stock very hard to read. I have noticed that the SP traverses up and down like a yo-yo throughout the day. Has anyone sussed this out and know how to turn it to profit?