Unusual Trading

The chart below highlights a very unusual trading pattern that started around December 2016 (noted below) when normal market price discovery cycles changed and virtually disappeared. This altered trading pattern suggests to me that the share price has and is being “managed” by removing any normal upward buying momentum through supplying enough stock to eliminate it...Effectively creating constant downward pressure (apart from one breakout in Jan/Feb 2019) over the past 2.5 years.


I have included the timing of APAC Resources three purchases to acquire their 43.6% holding that appear amazingly cheap prices (38% @ 4.5c, 2.6% @ 3.3c and 3% @ 4.1c), given TAM’s NTA is at least 12 cents and perhaps as high as 15 cents at an Aus Dollar gold price over $1,800. Under a more normal trading environment, I would expect TAM to be trading at least 6-7 cents and fully recognising the strong upside price potential once NST confirms its CTP mining plan - Expected in their mid year resource update or possibly announced earlier.

This ongoing trading pattern suggests to me there is a high probability that cashed-up HK APAC Resources will further take advantage of this suppressed price level to launch a bid for the balance 56.4% in the coming weeks. This would also coincide with a breakout of the 6 month chart “wedge” formation. I recommend having a close look at this chart to draw your own conclusions.