Elviron1
21 Oct 2017
50% Fib And another positive for those chartists amongst us:it's bounced nicely off the 50% Fib at about 0.36p.
Elviron1
21 Oct 2017
Re: updated chart Updated chart
rice 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!
Hub
18 Oct 2017
Re: updated chart 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.HUB
jonmor
18 Oct 2017
Re: updated chart As they have nearly 4.9 BILLION shares and the market value is £17.8 MILLION it would be quite a dilution if they were to raise $30 million via equity dilution.
Hub
18 Oct 2017
Re: updated chart 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.HUB
Elviron1
16 Oct 2017
Re: updated chart 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 lows2) Slow stochs at or close to historical lows3) 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.
The Real Grinch
16 Oct 2017
Re: updated chart good stuff Penhome. It'll be intriguing to see which way this one goes.
penhome
15 Oct 2017
updated chart Holding at .365 but unsure if this has bottomed yet[link] (a personal opinion)
Elviron1
14 Oct 2017
Re: Patience /faith That was the reason for the drop late in the day there. The seller was always going to get less than the inside bid for a sell of that magnitude. MMs then drop the bid to discourage further sellers as it was late in the day on Friday, and they won't have had time to shift it - they will be holding the stock over the weekend. It's actually reasonably encouraging to see that they will take a large sell at only 0.5p below the inside bid - they are confident they'll be able to sell them for significantly more next week and make a nice profit for themselves.As for the reason for one medium-sized (and there are plenty who hold similar amounts, such as myself, and significantly more) PI selling their stock, to be honest, who cares!
KALAN
13 Oct 2017
Patience /faith Someone just lost one or both:Time Price Volume Value17
6:30 0.365 11,000,000 40,150May be a sell today and buy back on Monday job?
KALAN
11 Oct 2017
Re: Shift to upwards momentum? Absolutely agree with all you said Elviron - I think we have a similar approach - and yes one of my major problems is selling too early - this sale is temporary as a precaution. Still think it's in the waiting room for short term direction. As for the 100% gains being a problem due to trade sizes as time goes by - you are right again and that's a problem I would love to have to overcome.Penholme - much appreciate your posts - I am not one of those who doesn't like to hear a cautionary note on something that I am bullish about - thanks for your posts as they help out an amateur trader such as myself. I also realise that the buying and selling decisions are mine alone and no-one else can be blamed after the event.Good luck to the pair of you.
Elviron1
11 Oct 2017
Re: Shift to upwards momentum? Hi Penholme, ok thanks I'll check it out.
penhome
10 Oct 2017
Re: Shift to upwards momentum? Just in case you are interested, there are a few of us who are interested in TA who are posting on the AFE board. It's a defunct company so its board isn't being used.Any analysis, thoughts on anything are welcome.We're just interested in analysis and other people's perspectives and opinions. The more the merrier.Pen
Hub
10 Oct 2017
Re: Shift to upwards momentum? Management have tried 'pointing' investors to it for a few weeks now.Sales contracts to be signed... followed by Funding dealWith metal prices looking firm and miners suddenly flavour of the month, I'm surprised WRES isn't back chomping on the 0.5p level again.As with any placing, always needs a little time to exit some fluff before rejoining the trend.CERP's placing yesterday a prime example of an accretive capital raise via major II.I wonder what a major funding deal would do for WRES's price? It's not in the fibs or mac'ds or burger kings i'm afraid.You'll have to wait and see.HUB
Elviron1
10 Oct 2017
Re: Shift to upwards momentum? Ah ok, that would explain it.My primary indicators are MAs, Boll bands, candle sticks, volume and on-balance volume. I will use RSI and slow stochs in non-trending conditions, but TBH I usually only cast a cursory glance over them.All the best with your charting too.P.S. a bit of a bounce seen today in WRES, right on time. IMO both the fundamentals and chart were pointing to it. I believe there was an over-reaction to the recent placing - a commonplace occurrence.
