My view:
Yesterday was just thekids in the playground jockeying for position. In a few days we will know theseller. There will be no T/O until the JORC/s are in.
Management cannot recommenda T/O without a JORC & BHP et al will not bid until the resource is Tier 1with a mine life in excess of 20 years. BHP et al would rather pay $2B for afully defined resource than risk $500m on what could prove to be a 5 year mine.If it proves to be a 5-10 year resource they may/would buy the off-take. If it’s20-50 year mine they will buy the mine.
In the meantime theMACD is weak reflecting the uncertainty of the size of the resource andmanagements ability to start-up within the stated time frame and budget.
As always sell a fewon strength and buy a few on weakness until the MACD lines converge then itsALL IN.
Cheers
XanaX
One of the Padleybelievers
My view:Yesterday was just thekids in the playground jockeying...
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Mkt cap ! $21.01M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
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| 70 | 66427422 | 0.4¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 1526275 | 3 |
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