Basic agreement here - resistance areas around 63 > 82 > 97 (red lines on weekly)
20/50/200 SMAs all aligned and rising
RSI relatively overcooked at 85 with price also opening/closing above the top band on the daily. So some cooling off may be in order. Weekly RSI also above 70 for first time since 2016.
Yup, I have similar. My downtrend from back in 2014 was broken this morning around the 0.53 mark (if it holds for close that is).
Longer term downtrends is around 0.61
RSI is looking a little overdone, although we are in a nice uptrend, so we could have a technical solidification and pull back, but if finance comes through as expected, this really should and will be much higher in time regardless of the chart. Boom time hopefully indeed
Zoomed out - 2013 and 2014 downtrends
It has broken out emphatically now and there doesn't seem to be much in the way of resistance. This is where I normally cash in my 20% gain and live to regret it - have 0.8p in mind in the short term but after that yes 3p, 4.5p or more is possible as long as they deliver. Placing orders was a massive positive - confirmation of the money in the bank should ease any remaining concerns.
Yup, it is indeed. In addition to WRES, Vanadium is my other play with BMN (along with PGMs in JLP) so their predictions all look very temping! I note they don't think gold will do particularly well over the next few years...but I am getting off topic.
WRES's outlook looks superb if the APT prices hold where they are. If the got to 400, it could be quite spectacular.
My estimates suggest a suggest at a price of 300 USD / mtu post-tax profits could support a SP of 3p - 4.5p at a PE of 8 and dilution of 30% (which I expect to be very conservative) for the T2 and T3.5 mines. Take the APT price to 400 USD and this suddenly jumps to 4.5 - 7p. That would be quite something.....
Can APT price reach these levels? Can MM deliver the plant on time and with the robust economics they claim are possible? What dilution will occur to progress the other parts of the business while La Parilla is being built and debts are being paid back?
Plenty to consider and track, but the outlook is very exciting. And the prospect of dividends will be coming down the line at some point - I'm sure MM will be keen to start taking some income from his pretty hefty stake.
It's been a long time coming for WRES. But it does seem like 2018 could be the year where the show finally gets on the road.
Interesting stuff Humball - the extra 1% on the price will give rise to maybe 2% extra profit and then $410 represents another 25% rise (almost) which should translate into at least another 50% added to the profits - let's hope the predictions are accurate.
Payback on la Parilla is estimated at 2 years - that could fall by quite a few months on these predictions.
Noted the palladium and platinum predictions - looks like the end of 2019 is going to be a sweet spot according to the table ($1150 and $1100 respectively). Interesting for shares elsewhere.
Well news is imminent now - will the CEO let us down or will he deliver - added another 40% to my holding on a bet that this time he will deliver - should see a break out on finance package agreement and off take contracts - but this is AIM so who knows.
Whilst the funding discussions are clearly advanced, I suspect it will be the LOI's converted to signed contracts that give the sp a significant boost.
One follows the other so funding may be linked in some way to the LOI's becoming contracts. The project economics stack up and the markets only reservation would be fearing an equity portion offered alongside debt. Can't see this myself as management have been fairly firm about no further dilutive equity raises (apart from the minor bridge finance raise done weeks ago)
If they get this sorted, it's win win for all involved and a very exciting 2018 to look forward to.
felling sorrry for you here all on your lonesome here, hub.... but no fear michu is here .. buy low, sell high.. and this is probably still low.. so I might add some more later today.. I'll not add big though as for whatever random reason i'll be keeping my aveage under .375p here though (currently .35p/.36 p ish)
Last week they announced a successful Gas hit in Romania.
A Director then splashed £40,000 of his own cash on shares.
They then announced a drill in Italy was ahead of schedule and under cost.
Then this week they announce the Italian drill is successful and they has a commercial gas find.
They then promise further updates in the next couple of weeks..
The net result of all of this "Bad News".. Yes indeed, the SP tanks and goes down..
You couldnt make it up...
Of course JLP will rise, just as certain as PXOG will..
The thing is, when they do people will doubtless sit back and cow "I had that stock in my watch list".
No point having stocks in a watch list, best to have some shares to benefit from the rises.
PXOG for instance will (IMO) very likely turn a minimum of 250% increase..
The latest III write up agrees with me citing 2.5p and above.
Hopefully the funding won't be long Larry but these things tend to go down to the wire and the wire here is December 31st.
On the chart front - the sp has risen twice in the past couple of months to the long term downtrend line and failed to break through. I have support at .37p as a possibility with .33p as a back up if that fails to hold (just my opinion) - looking to buy soon - hope I'm not too late!!!
Hope this is helpful. It's just my opinion based on what I think the chart is suggesting. This is always a balance of probabilities so my opinion can be wrong and other analysts may have differing views.
The overhang and post placing dust settling bit looks almost done and then we are off to the races one hopes. News is due and Nov looks the best month for it.
0.4 to 0.57 ish looks a decent path forwards but 1p has to be the big target based on contract and funding deal?? Thereafter, it's mainly about project management/development keeping to timelines and within budget for 2018.
Price has caught up with the rising 50 day nicely.
Mini double bottom evident.
Remains in bull territory well above the 200 day MA.
I believe MM is back in the UK next week and based on previous interview frequency we can expect an update. It will be interesting to hear progress in the last few weeks and how he see the next couple of months going. There are certainly a few irons in the fire at the moment and they must be approaching hot enough to be worked now!
Agreed, which is why they are going down the funding route and not the equity channel.
That said, FRR did a heavily dilutive funding deal/debt swap turning 5bln shares into 14bln or so and the share price still managed to deliver a 9 bagger from 0.9p lows in a matter of weeks.
Wouldn't want to give WRES management any ideas... but i'm sure they know this is a £100m+ cap business once they've secured funding and kick off development.
Still no guarantees that they will secure funding and LOI's mean zero until they become signed contracts.
But price environment for tungsten looks good and market is certainly more receptive and open to smallcap funding now as compared to a cpuple of year ago.
It's par for the course to have a bit of a consolidation phase post a 5% or so equity raise. Not sure about regulators caps on news flow but imagine they will have to wait a decent 21 days post placing before issuing major news. Hence may see some positive price action kick in soon as speculators move in ahead of 26th of Oct or w/c Oct 30th/Nov.
They've still got plenty of time to get contracts sorted and funding agreed although the weeks do tend to slip by fast as Christmas approaches and festive deason begins. If you basically write off the last 2 weeks in Dec, then in theory they have around 8 weeks to get this tidied up. If funding is secured but pending contracts, then it could all come in one hit and one RNS.
I'd prefer contract 1 signed news followed a week or so after with contract 2 followed by a few weeks of funding ...... coming with final funding news arriving as ice on the cake.
Nice bit of news flow momentum could help build solid support and strength for a very decent move higher from today's levels.
If RNS delivers funding and contract news in one hit, ... well my guess is that WRES will be top of the rises for that day.
The market is ripe for the funding package size of $30m which they are seeking, based on roi / risks involved. It's not like they need $100m.
Multibagger in the making if they can get this project moving via debt deal rather than traditional equity dilution.
Penholme - agreed there is some uncertainty which way this will go from a pure chart perspective. Although even then, I would say this is just about the bottom:
1) RSI at historical lows
2) Slow stochs at or close to historical lows
3) MACD histogram in deeply negative territory but with a positive gradient.
4) In bull territory above the 200 day MA.
The so, so is that t's just below the 50 day MA, BUT that is rising strongly and will continue to do so for a good few weeks. The price may play catch-up I suspect.
And then from a fundamental point of view, the company is stronger than it has ever been:
a) we're below the placing price which has enhanced the balance sheet by £1 million - quite possibly a pre-requisite for the debt funding.
b) LOIs (1 signed, the other on its way) for 80% of production. Contracts to follow, which should be the final requirement to get debt funding promised this quarter.
c) Update on gold spinoff due which could be worth 0.1p plus to shareholders.
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