Phase 2 exploration begins October 1st, and the speculative interest will be increasing.
After trading down on relatively unsurprising news about the drilling done on the western trend, we are setting up for a speculative rally for Phase 2 drilling at the eastern trend at Moosehead.
The 10,000m Phase 2 drilling program will test the area on the eastern trend, where MH18-01 gave the intercept of 11m of 44g/t gold and consequently gave Sokoman Iron Corp some
SIC
ridiculous trading volume and a rapid 1000% increase in share price.
This is an easily accessible area in New Foundland, screaming for mining jobs. While we are far from delineating an actual mineable resource, we are also at a very small market cap where a lot of the hype investors have sold off, and more patient long-term investors have grabbed shares.
On the technicals, we seem to have touched a bottom twice at 0.15 and 0.145.
With an imminent catalyst coming up - 10,000 meters of drilling at the highly prospective eastern trend - there will be serious speculative interest the coming weeks.
Confirmation of the mineralization from MH18-01 meanwhile can take us far beyond what we have seen earlier.
Remeber this is exploration, results are not guaranteed, but speculative interest is definitely going to pick up.
Suggested trade before drill results:
0.15-0.23 BUY
0.25-0.40 SELL
And keep some shares for the assay results in October, that's where it can get really interesting for SIC.
After trading down on relatively unsurprising news about the drilling done on the western trend, we are setting up for a speculative rally for Phase 2 drilling at the eastern trend at Moosehead.
The 10,000m Phase 2 drilling program will test the area on the eastern trend, where MH18-01 gave the intercept of 11m of 44g/t gold and consequently gave Sokoman Iron Corp some
SIC
ridiculous trading volume and a rapid 1000% increase in share price. This is an easily accessible area in New Foundland, screaming for mining jobs. While we are far from delineating an actual mineable resource, we are also at a very small market cap where a lot of the hype investors have sold off, and more patient long-term investors have grabbed shares.
On the technicals, we seem to have touched a bottom twice at 0.15 and 0.145.
With an imminent catalyst coming up - 10,000 meters of drilling at the highly prospective eastern trend - there will be serious speculative interest the coming weeks.
Confirmation of the mineralization from MH18-01 meanwhile can take us far beyond what we have seen earlier.
Remeber this is exploration, results are not guaranteed, but speculative interest is definitely going to pick up.
Suggested trade before drill results:
0.15-0.23 BUY
0.25-0.40 SELL
And keep some shares for the assay results in October, that's where it can get really interesting for SIC.