SGQ

8.82%

3.1¢ st george mining limited

Trading opportunity in SGQ shares?, page-3

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13,592 Posts.

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22/02/18

20:53

Post #: 31271149
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Originally posted by GOODINFO ↑

A Broker friend sent this to me. The adviser is very BULLISH on SGQ stock. Below is what I received from him.....

"I just wanted to give you a quick update on St. George Mining (SGQ) and my thoughts on the company from a meeting I had with the Executive Chairman John Prineas last week and why I think you there is a trading opportunity in SGQ shares.

Firstly, we should start to see news flow fairly soon with the first announcement for the commencement of drilling at Mt. Alexander sometime this week or next week. Generally, when a company announces its commencing drilling in most cases the market reaction is a positive movement in the share price along with increase in share volumes.

Secondly, from a technical charting prospective the shares show signs of strong support around the current $0.20 level. Furthermore to support this evidence one can see at the time of me writing this inform, the Bids (Buyers) are well organised around this level $0.20. It indicate Buyers are trying to maximise their dollars ( buy cheap) prior to the drilling announcement. From a Sell side prospective a small resistance starts at around $0.23. This can be evident from both the technical charts and the current sellers within the market.

I believe this small barrier at $0.23 will disappear upon the news that the drilling has commenced, and the next level of resistance appears to be at/or above $0.25 which could reflect an upside of 25% return in the short term.

Thirdly, directors and management team since my involvement with SGQ have always delivered positive performance in relation to the share price when the company has commenced a drilling program.

During my meeting with John, I hit upon the prospects of success as being exceptionally high for this company. I view the most recent announcement for the issue of short term options to shares holder, which were only issued in February 2018 and expire on 23 April 2018 (very short term), as being a sign of bold confidence in the next upcoming drilling program. This perhaps a sign the board may recognize something that we the market don’t know and has yet to be explored during the next drilling program."

Very interesting ??

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Thanks Goodinfo. Well summarised by your broker.

We have discussed these aspects individually in various contexts and especially the short term options and probability of it being in the money.

Hopefully a very good week coming up! Interesting activity with SGQOB too IMO at various times!!

SGQ Price at posting: 21.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 3.1¢		Change -0.003(8.82%)		Mkt cap ! $33.74M

Open	High	Low	Value	Volume
3.3¢	3.3¢	3.1¢	$223.3K	7.008M

Buyers (Bids)

No.	Vol.	Price($)
17	3118998	3.0¢

Sellers (Offers)

Price($)	Vol.	No.
3.1¢	94338	1

View Market Depth

No.	Vol.	Price($)
17	3118998	0.030
5	2394826	0.029
7	3115246	0.028
6	4300740	0.027
4	14886899	0.026

Price($)	Vol.	No.
0.031	94338	1
0.033	347058	2
0.034	459623	2
0.035	924370	4
0.036	1448775	3

Last trade - 16.10pm 04/10/2024 (20 minute delay)

SGQ (ASX) Chart

Trading opportunity in SGQ shares?, page-3

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Trading opportunity in SGQ shares?, page-3

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Sellers (Offers)

Featured News