market response

  1. 1,011 Posts.
    It is encouraging to see that our market has finally matched with the close of London overnight ($0.26) with better volume of support than recent times.

    At these levels it represents a 30% gain on pre DSO but still only 70% of the close 3 months ago ($0.37). In spite of this I believe with the next shipment out and the prospects of the options being exercised, the platform is there for the long termers to maybe soak up some more at these levels. I certainly think there is a case for new punters to have a hard look at the story.

    After all, there was nothing special happening 3 months ago which would preclude the stock going back to 37c in the short term leaving a window of a 42% gain.

    It could be argued that even at $0.37 it is grossly undervalued, notwithstanding those who would be entitled to want it back at the historical level of $0.66 only 9 months ago, when nickel was enjoying better times.

    I personally believe that the picture for RML is on a sounder foundation now than it was then.

    More volume indication and I will be moving from a hold position upwards.
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