So a VERY solid day Friday with a breakout of even the rising wedge by the looks Seagull.
Looks like the mms r playing their hand out in the open now with the buyer depth solidifying at the top and the buy/sell ratio looking much better. This could be a good or bad thing, my guess the way the charts looking is for the good. It could also be a visual market support for whats to come fundamentally.
Havnt really had a breakout in volume yet which MIGHT indicate 46 is initially a more likely target than 40 Seagull. However that will depend on news one would think.
What I would be interested in is just where we stand in terms of waves. I guess for U that will be determined by those fib levels.
Im not sure that a 25% increase in NPV would be enuf to create another gap up, but I'm not so sure that's what we want atm.
One gets a feeling with G1a that I Havnt had in a while, and which other posters have mentioned, and that's the very strong buying/rerate that appears to be going on with little regard for the sell side behaviour.
We r still only at a market cap of 135M and for a potential share of a 650M NPV of 60% giving 390M, that's a fractional multiple of only 0.35, pretty low imho given the potential Toho deal. But then those numbers are all heresay until we see an annmnt that states as much. BUT that number MAY be a few % points low depending on how much the decreased lateral development costs r offset by room/pillar or wall work. For all we know it may be the other way around and the potential for an NPV increase may be a fair bit lower. In fact I can't say I've heard of too many projects that have been able to increase their NPV by this much so probably best to be a little guarded on the BOcean analysis.
But I've got into fundamentals again.
Trouble is they r having such a profound effect on G1a now that imo they can't be ignored seeing the mms seem to have little regard for the sell side resistance the last couple of months. They've been fairly sneaky about it too given they've hidden off screen which means at least one mm is dedicating some time to buying G1a up. Hence the chart being as strong as it is.
This may well bring in our favourite fraternity we have a love/hate relationship with. Love em when they take the sp for a ride, hate em when they r manipulating to the bs.
Whatever the case, next week may just be a week where the spotlight is firmly on G1a.
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