West Arunta Low Cap Comparison

I have put a comparison together with some charts of the past few months as interest in the West Arunta region has heated up. I have left out WA1 and ENR since they are both ahead of the pack and more advanced. WA1 in a big way.

Taken on 25th April 2024.

CGR - Market Cap: $27.7M (Share Price 30.5c)



NWM - Market Cap: $18.2M (Share Price 4.7c)



MTM - Market Cap: $16M (Share Price 5.7c)


MTM defy the trend because at the date of their peak, it became public that they lied to the market about the progress of their exploration permits and the downtrend began. Otherwise, they would likely be in a similar trend to the others above and below. However it is still important to mention them to keep this post balanced.

LYN - Market Cap: $12.3M (Share Price 28c)


If we compare to RCR (chart below) - Market Cap: $9.1M (Share Price 4.1c) we can see the April spike up is delayed a few weeks compared to the rest of the pack. Which is very surprising in my view since we are the first company to drill out of everyone. We saw that drop off today which is consistent with CGR, NWM and LYN just after their major April spike up. IMO it is a consolidation and profit taking point, but then it rebounded back up for all three companies shortly afterwards. Now all 3 appear to have good support around the peak of their April bull moves - For CGR around 30c, LYN just under 30c and NWM just under 5c.

Knowing this form and information, you would expect RCR to rebound to at minimum between 4.5c and 5c and find support around there. However since we are actively drilling and have the potential of drilling news both in relation to diamond drilling and RC drilling, the odds are in our favour for a higher support level compared to our peers IMO.

If you think on a contrasting viewpoint, the negative viewpoints which were posted in here just a week ago were:
1 - RCR does not have as many targets as their peers.
2 - RCR does not have as much cash as our peers.

Unfortunately for these posters, their arguments were blown out of the water this week with 2 separate announcements. One showing additional targets within our tenures from the recent geophysics and boosting our exploration chances for a discovery. The other, the quarterly and cashflow report showing $2.1M in the kitty at the end of March and more than enough to fund the current drilling expenses and costs for the rest of the quarter. They actually say over 5 quarters of funds remaining on the basis of previous expenditure. However, this will likely be a lot less and I expect a raise before the next drilling campaign in around 3-4 months' time which I expect to be a lot bigger and test many more prospects. 3-4 months is more than enough time to boost the share price considerably with any good drilling results.