CEL could have some bullish movements soonChallenger Explorations Limited are looking like they are siting in a short term bottom
Fundamentals.
South African Mining Minister has announced petroleum and gas mining are be given fast track approvals (shale gas mine application in south africa) following independent audit of SA's mining revenue found then well below where they should be ranked globally.
South Africa plans to move to 100 % clean energy in the coming years (solar, wind and nat. gas)
application for land is wedged between CHEVRON and SHELL claims in an area with high volume of GAS.
South American gold silver and copper mines are set to begin drilling and should be close to revenue making stage of the mines in question (mines acquired in company take overs ((i believe in an attempt to create revenue as they are waiting for South Africa gas mine to kick off)).)
experienced and very knowledgeable team including the VC who has had a lot of experience funding mining companies in the passed.
Technicals
nothing much to look at here, in a nice triangle at the moment so a break out is imminent, volume decreasing through pattern as reinforcement of this theory. Massive volume spike with little to no movement on the price action shows this is a level of Highest liquidity and will often indicate levels where smart money is accumulating positions.
I'm Long on this one pending rev from south america and approval of South Africa's gas mine permit.
TP will ensue if price starts moving north bound!
I am of the opinion that we may be poised for a global, i doubt i will be holding a position in anything if that is the case.
DYOR
not a financial advisor
good luck ladies and gentlemen
happy trading.
