Australian (ASX) Stock Market Forum

Mainly Miners

15 January 2020
WGX daily chart showing lower lows and lower highs, could indicate a trend change which may send it lower, but it also looks very much like a bull-flag which could see it go back to 2.50 and potentially break through the resistance there. The positive seasonality of gold for Jan/Feb would favour it going higher. I wouldn't buy at the current price based on the price action unless it breaks through the upper trend resistance line with strong volume.

What do you think is more likely: bull flag before moving higher, or trend change heading lower?

Hey opzspec, good to meet you. Thanks for the chart. I reckon there a few here like me who are bullish gold (me, I'm modestly bullish based on the assumption that aus miners are going to make money for some time).

I've never looked at WGX. Perhaps it would be worth while posting something in the WGX thread about the stock. I note that your analysis is technical but you may know more about this stock that you could share?

Cheers to you from the guy with a track record of only loses from gold stocks.
Vancouver, British Columbia, September 8, 2020 (NYSE American: EMX; TSX Venture: EMX) – EMX Royalty Corporation (the "Company" or "EMX") is pleased to announce the execution of an exploration and option agreement (the "Agreement") for the Queensland Gold project in northeastern Australia (the "Project") with Many Peaks Gold Pty Ltd ("MPL"), a private Australian company.
The Agreement provides EMX with cash, work commitments, annual advance royalty payments, and a 2.5% Net Smelter Returns ("NSR") royalty interest in the Project, as well as other considerations.
The Queensland Gold Project is host to multiple styles of gold and copper mineralization, including key intrusion related gold targets that were only partly explored in the mid-1990's.
This chart shows that gold shares need to rise about 300% to get back to the highs in May 2006. As usual this does not apply to every gold share as there are laggards and those who basically mess up on forecasts and basic drilling results - always high risk at the top end. Then comes the difference between producers and explorers, the latter often trying to push their share price up because they are drilling or about to drill 'but but but' they have no gold and that's a strong point to remember. Also the ones that make good profits and then invest in further exploration and always fail to pay a dividend. I hold 19 gold shares quoted in Canada, America, Australia and Hong Kong - 6 are now up though 13 are still down even after recent rises which shows I mistimed the market - however it is what happens from here that matters the most. They pay dividends between zero and 7%.
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I commented on same stats in monsieur @ducati916 thread.
This puts Australian mining in perspective..15 smaller than China for example...and smaller than Russia
but i bet we beat both China and Russia ( and India ) in red tape to slow the mine from starting production and exporting

Sun Silver (ASX:SS1)

Silver and gold explorer Sun Silver (ASX: SS1) has announced it’s locked in a drill rig contractor ahead of its maiden drill run later this year.

PNX Metals (ASX:NX)

NT-based uranium explorer : has confirmed its receipt of confirmation from the NT government drilling will be co-funded.

Aurelia Metals (ASX:AMI)

NSW-based Aurelia Metals (ASX:AMI) has released drill results from its most recent campaign.