zzzzz1, the technicals still look awful, (1) On Balance Volume has collapsed from a near +400 million to +200 million over the last six weeks (2) uptrend three month moving average "crashed" when the stock slid under 4.4 three days ago and is now rolling over and indicates targets to lower levels (3) other technicals look awful.
Something or someone has upset the market here. They need lots of money (several million) just to get their drilling program and due diligence done and these funds appear to have been raised (see ASX releases on this point) to the tune of around $2.5 million. So the issue is not funding, it is something else? Maybe a reverse split (share consolidation)? Maybe a selloff based on tax year ending very soon? Maybe folks who exercised options are selling to raise cash?
The fundamentals look very interesting, especially with a drill program starting up soon. Share holders meeting due next month so I lean to the view that there may be a reverse split announced, but this is a pure guess. Am on the sidelines but watching for a re-entry point. good luck to all longs
RCH
richfield group limited
