i think i can roughly agree that north of 90 cents (u.s. or canadian, does not matter at the moment) would be a target at which to sell some stock if you are into trading it.
my reasoning would be that there is going to be resistance up there, from the one year holders who paid in that range a year ago, glad to get out at a break even price or slight profit. after that, though, it is clear sailing.
beyond that, with this stock, the news environment is very very fluid. meaning, we could get big news at any moment.
plus you've got the big players buying fairly heavily. canaccord buying tuesday afternoon when they are said to have met with ogr mgt that day is a great example.
i cite clarus canaccord and wellington, based on the tape of april 1 through now. that usually happens at the beginning of a run, not the end.
fundamnetally, the thing i keep coming back to is this: what is this district that oro has assembled going to be worth to a major?
as long as the price stays well under that ballpark number, we are ok on an intermediate term basis.
for example, the market cap right now at most is is $50 to $70 million, depending on whether you use 68 million outstanding or 88 million fully diluted.
either way, these market cap numbers are still ridiculously low considering the parcel oro gold management has assembled and what we already know they have found.
no way this district would change hands today for less than $200 mm. and that is a lowball number, in my view. by the end of this year, depending on drill and assay results, the lowball number could be $500 million, $600 million.
this is my free stockcharts weekly chart on OGR with on balance volume along the top.
stockcharts.com |
