JRV 5.71% 16.5¢ jervois mining limited

dog dog dog dog dog...woof, woof, woof...

  1. 15,276 Posts.
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    I thought I would get in early before the HC downramping brigade got into gear...

    I have previously posted my thoughts on JRV...clearly stating my reasons for following it up from .007c...and frankly, feel it still offers long term upside potential.

    But agree, at this stage is not investment potential.

    Some might suggest there's a pump and dump underway, or that the company is trying to get the options over the line...or even that the recent placement allotees are driving the price up for higher returns.

    Some or all of this may be true, but the fact remains, there is a current trend in place that has not been broken...and perhaps more importantly, the biggest buyers in recent times, 3, 4, 5 and 10m hits, have all paid prices higher than current levels.

    In my opinion, this discounts the "pump and dump" theory as well as manipulation from the allotees...which I guess only leaves the possibility the company is trying to get the options home?

    Problem is, there are only 76m options, so when exercised, they will only provide an extra $3.8m for the company...and unless I am mistaken, the company, or it's associates, have already spent many times this amount trying to get them home?

    None of these add up to me...which is why, amongst the normal day trading noise, I think there is a real recovery underway.

    The fact the price has moved from .006 to current levels also supports this theory.

    Anyway, for today's noise, I am expecting a flat day +/- 2 points and will be expecting (hoping) that the 3.3c support level holds...if not intra-day, then at least by the close.

    If it does, I think we can expect to see some consolidation/distribution around the 3.3-3.5 mark for a few days, before we get the next breakout...hopefully upwards and possibly news driven!

    I see many hurdles for JRV to cross before the market finally appropriates any real value to Young, or forgets their less than satisfactory track record for that matter...but that's what makes penny stocks penny stocks!

    To be honest, JRV reminds me a little of the early days of NXS (at 3.3c) PDN (at 2.3c) and NDO (at 1.4c)...all of whom were proclaimed to be dogs at the time, with little or no investor interest. NXS and PDN in particular still have pretty much the same assets and management...so the only thing that has really changed is market sentiment.

    Perhaps the only difference between a dog and a quality stock is the share price?...LOL

    NDO in particular is perhaps a good comparison to JRV. Back then, oil was about $20 a barrel and Galoc, difficult to get at and marginal at best, was receiving little interest from the market...they were also producing, but barely enough income to cover the weekly lunch money.

    Double the oil price, introduce new extraction techniques...and suddenly, what was once marginal suddenly becomes economic.

    This not unlike JRV's current position...where they have an asset currently discounted by the market and negligible income from gold production! Similarly, like oil, the price of Nickel has risen substantially and JRV may have found a viable extraction process.

    It may not happen overnight...or may not even happen at all...but if Young did suddenly become viable, the implications for JRV's shareprice would be substantial.

    In the meantime, there's plenty of noise offering good trading oportunities.

    Cheers!
 
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Last
16.5¢
Change
-0.010(5.71%)
Mkt cap ! $105.9M
Open High Low Value Volume
17.5¢ 17.5¢ 16.5¢ $66.94K 391.1K

Buyers (Bids)

No. Vol. Price($)
6 169151 16.5¢
 

Sellers (Offers)

Price($) Vol. No.
17.0¢ 159253 1
View Market Depth
Last trade - 16.10pm 07/07/2020 (20 minute delay) ?
(live)
Last
16.5¢
  Change
-0.010 ( 2.94 %)
Open High Low Volume
17.0¢ 17.5¢ 16.5¢ 123354
Last updated 15.53pm 07/07/2020 (live) ?
JRV (ASX) Chart
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