CHN - Chalice Mining

[finicky]

Looks like it's wait till tomorrow or so to see if it's just a knee jerk reaction from momentum money but the signs aren't too bad so far. It had reached a price level where a pullback might not have surprised anyway, after @Sean K
Recovering quite well off its intraday low.
As usual I only skimmed the announcement but it could be positive that they claim they are looking for higher metal recovery, particularly Pd, by fine tuning the process. Could be just sugar coating the delay too I guess, doubt it.

Held

 

[Sean K]

Looks like it's wait till tomorrow or so to see if it's just a knee jerk reaction from momentum money but the signs aren't too bad so far. It had reached a price level where a pullback might not have surprised anyway, after @Sean K
Recovering quite well off its intraday low.
As usual I only skimmed the announcement but it could be positive that they claim they are looking for higher metal recovery, particularly Pd, by fine tuning the process. Could be just sugar coating the delay too I guess, doubt it.

Held

They've set up a webinar to discuss this for tomorrow. I doubt they would fess up to any issues with the met and current recovery rates compared to what they had produced earlier. I daresay they will address that. The interested JV parties who they have been schmoozing will be all over it I expect. I'll be dialling in. Might see you there.

 

[Sean K]

They've set up a webinar to discuss this for tomorrow. I doubt they would fess up to any issues with the met and current recovery rates compared to what they had produced earlier. I daresay they will address that. The interested JV parties who they have been schmoozing will be all over it I expect. I'll be dialling in. Might see you there.

View attachment 150417

@finicky webinar about to start mate.

 

[finicky]

Was out but will try to pick up the drift of it from around the traps. Didn't affect the price one way or another by the looks. Seems like you're holding a stake now @Sean K ?

Held

 

[Sean K]

Was out but will try to pick up the drift of it from around the traps. Didn't affect the price one way or another by the looks. Seems like you're holding a stake now @Sean K ?

Held

Bought the breakout from down trend and making higher lows and highs 16 Nov.

 

[eskys]

Sean, not too late to catch the train tomorrow? Below is commentary from Commsec............

CHN appears to be in a Medium-term rally confirmed by multiple indicators. Most importantly, the 5-day moving average is above both the 20 and 50-day moving averages.

 

[rcw1]

Sean, not too late to catch the train tomorrow? Below is commentary from Commsec............

CHN appears to be in a Medium-term rally confirmed by multiple indicators. Most importantly, the 5-day moving average is above both the 20 and 50-day moving averages.

Good evening eskys @ Keyes,
rcw1 found it difficult to capture CHN today. The numbers drove rcw1 crazy...


But ... did pick up eventually, more than wanted to pay, but its Xmas ha ha ha ha ha. Not good enough to sell though. Could well be a job for tomorrow. See what it does then.

Have a safe and happy Christmas and prosperous New Year.

Kind regards
rcw1

 

[farmerge]

Good evening eskys @ Keyes,
rcw1 found it difficult to capture CHN today. The numbers drove rcw1 crazy...


But ... did pick up eventually, more than wanted to pay, but its Xmas ha ha ha ha ha. Not good enough to sell though. Could well be a job for tomorrow. See what it does then.

Have a safe and happy Christmas and prosperous New Year.

Kind regards
rcw1

Good evening rcw1 M8 been watching my old favourite CHN for a while but just not too sure about it. There is plenty of movement in the SP but as usual "the bloke in the mirror" is holding back on yay or nay . He is more interested in the others that have our attention at this point in time.

 

[Sean K]

Sean, not too late to catch the train tomorrow? Below is commentary from Commsec............

CHN appears to be in a Medium-term rally confirmed by multiple indicators. Most importantly, the 5-day moving average is above both the 20 and 50-day moving averages.

I thought it was short term tradeable coming off the lows and breaking some significant resistance levels, but has since come up against other significant resistance and also approaching what I think is pretty full valuation for an explorer, even though it's a massive resource that will be a mine in 5 years or so. It depends on the MRE upgrade and Scoping Study to see what an NPV and NAV might be to see value. Overall, might just depend on the general market swings to how it runs from here. So, my train is officially on the fence.

 

[eskys]

Only lost a cent at this stage, so ? must be ok? Thought I will monitor it today but as usual other things are occupying my time. Thanks for your reply, Sean.............and posts, rcw1, farmerge, not the easiest of days, good luck

 

[Knobby22]

Copper Mickel Cobalt resource they are still sizing up. All needed for electrical vehicles. My fourth yearly pick.

 

[farmerge]

Copper Mickel Cobalt resource they are still sizing up. All needed for electrical vehicles. My fourth yearly pick.

Hmm I have liked CHN for some time and traded it successfully many times. Not holding at this time, but is on the watchlist

 

[finicky]

Could this have been the pause that refreshes? With a breakout today from a ragged pennant, indicating continuation of the prior trend? Diffident about the low volume so far. I have no confidence in the bigger picture monthly chart, might be a C downleg to come before the major correction of CHN is over for all I know.
Anyway I can't guess what the hell is going to happen lately. Switched gurus from David Hunter on twitter to Felix Zulauf who has recently been doing video interviews that are replicated on youtube. Zulauf reckons everything'll get hit in this quarter if I hear him right, then the Fed and other CBs forced to change tack.

Held

 

[Sean K]

Could this have been the pause that refreshes? With a breakout today from a ragged pennant, indicating continuation of the prior trend? Diffident about the low volume so far. I have no confidence in the bigger picture monthly chart, might be a C downleg to come before the major correction of CHN is over for all I know.
Anyway I can't guess what the hell is going to happen lately. Switched gurus from David Hunter on twitter to Felix Zulauf who has recently been doing video interviews that are replicated on youtube. Zulauf reckons everything'll get hit in this quarter if I hear him right, then the Fed and other CBs forced to change tack.

Held

View attachment 151255

MC now around $2.5b, but still off ATHs. There was a big CR in there but doesn't account for the difference. Maybe it's got a bit more to go but I'm already thinking of skimming some. Run a bit too hard, too quickly, which always worries me.

 

[finicky]

@Sean K Can't disagree and have been thinking of a trim myself.
The daily chart looks great and if I were looking at it without any context whatsoever I would expect more price appreciation - 'pole and pennant' continuation idea.
It's the monthly chart that has me hesitant that the major correction is complete. There I'm fearful of an abc with downleg c to come - just a scenario I've pondered. The monthly chart in the context of a doubtful broad market outlook.

Monthly

 

[finicky]

Scratched the itch and dropped 1,763 shares @ 6.97. Shares I picked up in the SPP.

 

[Sean K]

Scratched the itch and dropped 1,763 shares @ 6.97. Shares I picked up in the SPP.

Some nice beer money for the weekend. Not sure why it's run so hard since what was almost a quadruple bottom. Maybe just oversold in the 3s and long term value appeared. Add in twiggy and take over speculation might be pushing it. Or, someone actually is taking a position. Or, perhaps the resource upgrade is going to be better than expected. I'm tipping another 30-50Mt in that deep area to the NW towards Hartog. Could push it close to a 400Mt resource and a 40 year production profile. With it's current MC the SS is going to have to show an NPV of $5b plus, IMO. Will find out late this Q I guess.

 

[finicky]

Lightened again @ 6.47
Had to, got to fund a new Toyota Corolla since my V.W Golf developed Motor Neurone Disease (Electrics, 10 yrs old, 47,000kms). Anyway don't like the chart behaviour. One scenario I've considered is that it's on the way down after filling the gap, in which case the Jefferies target of $5 is quite imaginable. Bearish engulfing day today and the low has deeply overlapped the prior high - not 'constructive'.

Daily

 

[Sean K]

Lightened again @ 6.47
Had to, got to fund a new Toyota Corolla since my V.W Golf developed Motor Neurone Disease (Electrics, 10 yrs old, 47,000kms). Anyway don't like the chart behaviour. One scenario I've considered is that it's on the way down after filling the gap, in which case the Jefferies target of $5 is quite imaginable. Bearish engulfing day today and the low has deeply overlapped the prior high - not 'constructive'.

Daily
View attachment 152442

Wouldn‘t like to see it drop below $6, although longer term buying opportunities would open up again. Obviously ran too hard, doubling in pretty short time. Maybe this is just healthy consolidation. It’s followed the general market rally too so if there’s another significant leg down….

 

[peter2]

Prior capital raise was at $6.00 so if price drops below $6 it might trigger more selling as some bail out. On the other hand, those that missed out at $6 and were disappointed when price rallied +20% might buy near $6.

So, price could go up or down soon.