Australian (ASX) Stock Market Forum

EAR - Echo Resources

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Meanwhile, Dr. Kohler is the old and new CEO of EAR. Seems they came to some sort of agreement. Two Board Members were exchanged for this agreement, hopefully Echo is now coming back to work. The market took the news positive and showed some volume.

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Echo Resources coming off its lows following a $4 million placement (Northern Star Resources Limited $2.5 million and MACA Limited $1.5 million) and board changes. A total of 36,363,636 shares were issued at 11c a share.

With experienced mining engineers in control of EAR's board, confidence looks to be returning. This looks to be one to watch for the gold bugs.

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greggles said:
This looks to be one to watch for the gold bugs.
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Agree Greg.

I remember talking to a well informed Trader many moons ago just before EAR took off on a bit of a run …. He had a pretty high opinion of the Co. in general ……

The recent long time frame double lows around 10 cents look well and truly cemented in at the moment, and the price action is starting to look positive as you say.
 
barney said:
The recent long time frame double lows around 10 cents look well and truly cemented in at the moment, and the price action is starting to look positive as you say.
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Timely comment yesterday …. up 26% to 19 cents today ……. Don't hold, but those who do got a nice New Year present.
 
Greggles and Barney, I hope you are both onto something here, at least for the next month. :) I have picked EAR for the monthly competition.

The upward momentum in the later part of December/start of January has lifted my short term trend above my longer term trend and today's 6% lift might be the start of the next upward momentum for EAR.
 
Well I've picked EAR again for March's Monthly Comp.
Volume did pick up, good momentum early in the month moved my short term EMAs clear of the longer term EMAs. L/T EMAs are the right way up now.
Yes, the last few days did disappoint but the pin bar with good volume on Tuesday gave me some hope with it finding support on previous resistance.
Price target: Mid to high .30s

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With only 6 trading days to the end of this month's competition I need EAR to start making a move now if I'm going to have any chance of challenging the leaders. Sure, I'll need a lot of luck going my way :speechless:

Is price ready to reach my target, mid to high .30s within these 6 days ..... time will tell.

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On November 13th, 2019, Echo Resources Limited (EAR) was removed from the ASX's Official List following compulsory acquisition of the Company's securities by Northern Star Resources Limited (NST).
 
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