ARCM trade ideas
3.50p/5.15p target 3rd swing Summer 2020 - BULLISHCheck timeline properly.
Every year around spring a swing starts on the upside as we kick start drilling operations.
BoD are all aligned with shareholders at a much higher price, why? because they believe in the project.
We ask ourselves why they would do a placing now? Because that's what normally mining companies do ahead of drilling as they need the cash.
Why BoD didn't go in at a cheaper price? Perhaps they are all inside & can't buy. Bear in mind Directors (non-NED) have all about 10% together.
plant operating, high grade oxide deposit drilled (CE) & found massive sulphides.
Barrick as potential suitor for the company as a partner
Lumwana mine. It processes lower grade ore and has high costs as ore is I believe contaminated with uranium. 100km from Arcm!
CEO Bristow likes doing deals. Sees copper as area to move into
3.52p / 6.78p price targets - 200ma approach - support heldas we get closer and closer to 200ma & support level is being held I think scaling in is a better decision as we don't know when it will start motoring
Zamsort is an amazing asset & worth much more then £18m mcap
Hopefully a sale of Casa will give us a nice amount to continue operations for Zamsort.
Pretty happy holding & waiting for delivery.
ARCM - Long with next target 4.05 if breaks 3.60(ish) resistanceIdentified Key Support area of 2.50 - bounced off this on 25th Jan.
Watched and moved above the 50 day moving average with strength on 30th Jan for a good entry (sub 3.00), first resistance zone at around 3.60.
Currently battling the 3.60 zone but if confirmation of breakthrough next resistance zone and target looks like 4.05
