yesterday's data was strong ( no surprise) in that the open at 2.6c saw GDA hit a high of 2.9c and all data record new highs since the 2nd and 3rd of april. Transactions were up 39, volume was a healthy 19.4 m shares, the open was up .004c from friday's strong trading data and the close was up .001c. At one stage the buy was 45.8m shares compared to the sell side at 29.5c when the sp was trading at 2.8c for some time. The low was up .002c and the high was up .003c. The vwap was up .003 at 2.7c which is the key indicator I use to monitor any stock changes in trading data.The trading data almost mirrored that which occurred on the 2nd of april in terms of vwap and volume etc.
The close saw 40.5m shares on the buy side and 33.1m on the sell side. If the sell side drops over the rest of this week at some stage to around 20m shares I'd expect we'll see some sparks flying.
They key to today's trading data will be the volume and the vwap.
The options continue to be trading under par value which presents opportunities and if the 1m gdaoc for sale is not withdrawn and the heads continue their momentum today, the gdaoc represents better buying but I don't expect to see the gdaoc .013c offer remain on the boards too long if the heads trade today at between 2.6c and 2.9c.
I am more a fundamentalist investor ( and "if" factor )than a chartist but the chart must be starting to look positive for GDA?
Corunna downs iron-ore prospect holds so much interest for me at the moment I have not been posting a lot as am researching maps and the other tenements of GDA and surrounding company holdings to see what I can learn about the territory. I did a fair bit of research into BCI last year, who are nearby and there are a few other tenements GDA has that I need to find out more about to see if they are prospective for Iron-ore as well. Should the corunna downs iron-ore prospect samples not reveal much iron there is still the prospect of the other minerals they will have asked the samples tot be tested for.
Haoma mining (HAO) found some iron ore in about half a doz rock samples they sent for testing and their sp went nuts but has since dropped back, they are located not far to the north of marble bar.
I am also expecting an announcement from the company as to whether the exploration for iron-ore on our tenement at wallal downs has been successful or not.
I'll do some data recording of today's gda trading also.
I wish everyone good buying today if that's what's on the agneda, cheers fs.
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