ALK 0.74% 67.5¢ alkane resources limited

Top-up ...but when ?

  1. 1,386 Posts.
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    Three "points of interest" have transpired ( for me at least ) , since Alk's excellent announcement re Boda/Kaiser at the start of last week ;
    1) Ian Gandel topping up with more --clearly , that's flagging confidence , but its also a Director buying in a "window of opportunity "period .
    2) The surge of buying ....and the technical look of the chart . S. Reeve's chart contribution here identifies .Hard up , maybe a pause ?
    3) Article on P28 of yesterday's Australian , headed "Tech gives Newcrest its golden edge "--specifically , it refers to NCM and that block cave mining technology ( relatively new for deeper bulk mining ) will have to be the new norm for mining big underground discoveries , and NCM is a leader in that technology . Whilst it does'nt mention the Alkane new discovery ( it refers to the US$800 M bid by NCM for a majority stake in Canadian RED CHRIS copper /gold mine ),and applying this block cave technology as they have at Cadia/ Ridgeway )IMO ,its more than co-incidental that the article appears in the same week at Alk's announcement !

    So , there is the old conundrum ...if "we "the average punter are going to top up , with all the fundamental sum of the parts happening , does one buy now and set and forget , or average further purchases in over the next few weeks ?
    On the one hand --the gold price has gone thru a sharp retracement , but could be in the process of bottoming around now ...and Tomingley South drilling will keep being reported .
    But we are a few months off any resource numbers at Tomingley South. In addition , Boda drill planning will now have to go thru Induced Polarisation analysis , drill plan out , drilling contracting and drilling of ( x number ) deep holes , drilling core assays and results . WEEKS / Months OF WORK .
    Investors will each apply their own approach ...set and forget if you have the cash and patience , or stagger buying if you accept that ALK has run hard , and there may be opportunities to buy at a somewhat lower price ( 10% lower , maybe low 50c ish ??)
    I can't paste that Australian article on NCM --someone else might be able to ....but its worth a read , as you can get the vibe ( thanks to Dennis Denuto ) and whilst its very early days , of what might eventually shape up here in this new find .
    AIMHO
 
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Last
67.5¢
Change
-0.005(0.74%)
Mkt cap ! $407.3M
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68.0¢ 69.0¢ 67.0¢ $156.9K 231.8K

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No. Vol. Price($)
1 3000 67.5¢
 

Sellers (Offers)

Price($) Vol. No.
68.0¢ 26290 6
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Last trade - 11.16am 19/04/2024 (20 minute delay) ?
Last
68.5¢
  Change
-0.005 ( 0.74 %)
Open High Low Volume
68.0¢ 68.5¢ 67.0¢ 62078
Last updated 11.25am 19/04/2024 ?
ALK (ASX) Chart
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