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Hello micksnags1, I hope you and everyone had a good Easter weekend. Not on my PC so haven't got any pics uploaded, but I'll give my 2p worth: Price has bounced up off the recent low on week of 20th March at about 0.39p and was supported by previous high of about 0.36p on week of 16th Jan. It is supported by the 50ema on the daily chart. The trend still appears to be upwards and with the price clear of the 0.41p barrier, it now needs to clear the recent low of 0.44p to break out. Past this, there is the previous high of 0.52p on weeks of 21st Sep 2015 and 13th Feb 2017 and after that, the weekly 100ema of around 0.6p which could provide some resistance. After that, it's clear air until 0.8/0.9p . On the daily, the 100ema is closing in on the 200ema and a cross of this would signify a true upward trend on the daily chart. If the recent low at about 0.39p stays, then this could mean the end of the corrective trend down and start of the next impulse sequence of 5 waves with up overall. But there's about 4-5 weeks till results so there's still time for this to go up then down again if it's not the end of the 3 wave corrective sequence, but we should know if price goes up past 0.52 in the next wave. Hope that helps, other views welcomed. I'm planning to go to proactive event on Thursday, anyone else going?
Cheers Rev, I wish you and all in here a fantastic Easter break with more Sula frosted eggs than you can shake a stick at!
LOL!! I just took all your info and re-pasted it!
Interesting development today, and especially due to the timing. Madini Occidental transferred (not disposed) of its holding to Galactic Tidal, an investment company in the Seychelles. Now the owner of eqd owns half of Madini's holding and 6% of sula. Ian McPherson still owns a large chunk and ongeza still owns 38m shares. The timing tells me that the driller knows something - why would they invest more if the cores were turning out dust? I wouldn't be surprised if there is an rns released on the first assay results shortly and they're really good. We know that eqd and Madini and Roger Murphy and ongeza are all mates and together they hold the majority. We know Roger said they would be commercial and wouldn't be looking to do anything until the resource was entirely proved up, so I don't expect a sell now. Madini self proclaim to be a company that specialises in acquiring and building stakes in companies that hold near term potential - which is what they've done here. I don't personally think they will ever build a mine, but they will do the economics and have the skills to do that to ensure that they know the value of the resource and so they have to be bought out at full value as Roger Murphy said in his recent interview with Zak Mier. From the $400k subscription RNs in October, there was this commitment: "Madini and MO have committed not to exercise their abovementioned proposed warrants to the extent that it would result in the Concert Party's aggregate interest in Sula increasing to 30.0 per cent. or more of Sula's issued ordinary share capital" None of the significant hnw investors appear to have dumped and the market likes the news it seems. To me this director activity says Sula is starting the next impulse wave up a few should start to see good news shortly. GLA
The management team here are an UTTER DISGRACE and are a shining example of what gives the AIM a bad name. I hope they never grace this market with their presence again. The RNS this morning should have read: "Stepout drilling program confirms over 1km of Ed Slowey's utter horse sh*t" I wish all holders a better time elsewhere.