170% and no turning back.
Ecograf have performed exceptionally well after its SPP at 6.5c and are currently up 170%.
The new gains were mostly from publicity and securing land in Rockingham for their Ecofriendly battery graphite processing facility. Investors would be welcoming the improved advertising effort and increased frequency of their announcements. Because prior to this, announcements were very scarce, and there was a lack of interest in EGR which showed in its low liquidity.
However, the low liquidity in the past could be a sign this stock is tightly held, and a tightly held stock that has more publicity will generate more interest and therefore increase demand. To confirm this theory, I did notice there has been a pattern of accumulation throughout this SP growth cycle on CMF and its only getting bigger. The reduced drop in SP (higher lows) tells me people are buying and holding for the short to medium term.
There is a lot, and I mean A LOT of selling from 20c and up, so this seems to be the overvalued area. A positive change in fundamentals, or good luck? will be the key in allowing this to move to mid-high 20s.
Since my last idea on EGR they have secured an offtake with ThyssenKrupp and been granted the option to lease for the Kwinana facility. They are making good progress and building up fundamental momentum.
EGR have a development ready graphite mine waiting on final approvals from the Government of Tanzania. This cannot be far off, because the only thing that was holding EGR's finance back was the mining regulations (I think), and I believe the new regulations for graphite have been written and published.
The 2 volume spikes were caused by, (1.) EGR appearing in the Sydney Morning Herald. (2.) Tesla's "pump n dump" battery day, EGR presented at Benchmarks.
(3.) Could potentially be further offtakes, strategic partner, finance, further government support. What's the next value adding catalyst that will give us the propulsion we need?
RSI in oversold territory and approaching low 30s, proved to be a strong support in the past and there might be chance of a reversal here.
Bullish trendline confirmed.
Support at 18c confirmed.
To top it all off we see a nice ascending triangle forming, a bullish signal.
But, if we fall below support at 18c, we might be back down to test the next support at 15c.
All in my humble opinion
smh.com.au/world/asia/australia-s-race-against-china-s-rare-earths-weapon-20200825-p55p8s.html?utm_medium=Social&utm_source=Twitter
proactiveinvestors.com.au/companies/news/929038/black-rock-mining-moves-along-path-towards-graphite-exports-with-tanzanian-government-regulations-929038.html
australianmining.com.au/news/ecograf-secures-agreement-for-graphite-processing-facility/
manmonthly.com.au/news/98-million-graphite-processing-facility-planned-rockingham/
The new gains were mostly from publicity and securing land in Rockingham for their Ecofriendly battery graphite processing facility. Investors would be welcoming the improved advertising effort and increased frequency of their announcements. Because prior to this, announcements were very scarce, and there was a lack of interest in EGR which showed in its low liquidity.
However, the low liquidity in the past could be a sign this stock is tightly held, and a tightly held stock that has more publicity will generate more interest and therefore increase demand. To confirm this theory, I did notice there has been a pattern of accumulation throughout this SP growth cycle on CMF and its only getting bigger. The reduced drop in SP (higher lows) tells me people are buying and holding for the short to medium term.
There is a lot, and I mean A LOT of selling from 20c and up, so this seems to be the overvalued area. A positive change in fundamentals, or good luck? will be the key in allowing this to move to mid-high 20s.
Since my last idea on EGR they have secured an offtake with ThyssenKrupp and been granted the option to lease for the Kwinana facility. They are making good progress and building up fundamental momentum.
EGR have a development ready graphite mine waiting on final approvals from the Government of Tanzania. This cannot be far off, because the only thing that was holding EGR's finance back was the mining regulations (I think), and I believe the new regulations for graphite have been written and published.
The 2 volume spikes were caused by, (1.) EGR appearing in the Sydney Morning Herald. (2.) Tesla's "pump n dump" battery day, EGR presented at Benchmarks.
(3.) Could potentially be further offtakes, strategic partner, finance, further government support. What's the next value adding catalyst that will give us the propulsion we need?
RSI in oversold territory and approaching low 30s, proved to be a strong support in the past and there might be chance of a reversal here.
Bullish trendline confirmed.
Support at 18c confirmed.
To top it all off we see a nice ascending triangle forming, a bullish signal.
But, if we fall below support at 18c, we might be back down to test the next support at 15c.
All in my humble opinion
smh.com.au/world/asia/australia-s-race-against-china-s-rare-earths-weapon-20200825-p55p8s.html?utm_medium=Social&utm_source=Twitter
proactiveinvestors.com.au/companies/news/929038/black-rock-mining-moves-along-path-towards-graphite-exports-with-tanzanian-government-regulations-929038.html
australianmining.com.au/news/ecograf-secures-agreement-for-graphite-processing-facility/
manmonthly.com.au/news/98-million-graphite-processing-facility-planned-rockingham/
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