CHN - Chalice Mining

[Sean K]

Are these widths and grades as expected/desired? Looks slightly lower than the past reporting. But, it's continuing.

Anyone looked into the drilling authority in the State Forest to the north? Going to be any dramas with that? Is there an endangered Orange Spotted Flying Tree Frogger that's going to have it's hearing impaired by drilling?

 

[finicky]

Getting a bit less pessimistic about the short/med term prospect for the chart. So far the price is not following through on the bearish June monthly candle which is what I was mostly expecting and the ~7.50 level is holding on the monthly close. Could this be a continuation symmetrical triangle shaping up on the daily chart? I am mildly favouring yes right now.

Daily

 

[finicky]

Hartog
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[Sean K]

Hartog

She should cause a spike in holders tomorrow.

 

[Dona Ferentes]

Chalice will talk up the quality and attractiveness of the gold assets to make sure the spinoff is a success, but in reality the market is now more interested in the emerging high quality Julimar prospect near Perth.

Usually gold is top if the list for small and medium miners and explorers, followed by copper and nickel, as well as lithium. Interest in that trio has been driven by the rise in renewable demand.

In fact it is something of a heresy for a miner, especially one with the emerging profile of Chalice, to exit gold in favour of lesser (in the eyes of many investors) minerals. Chalice CEO director Alex Dorsch said the demerger announcement followed a board review of the company’s portfolio....

Investors Left to Drink from the Poisoned Chalice - ShareCafe

It is always instructive to watch what a company’s board and management keeps when it decides to spin off assets. So what are we to glean from Chalice Mining's decision to do just that?

www.sharecafe.com.au

 

[Joules MM1]

"Not going to reflect well in the Chalice Mining (CHN) chart on Monday I suspect"

@finicky ...correction well underway

 

[finicky]

Thanks for the insightful chart analysis @Joules MM1
Your charting comments on Palladium are usually a bit elliptical and technical for my frontal lobes to decipher but I ate up almost every word of this. I hadn't looked for or noticed the earlier deterioration of the uptrend signaled by 'overlapping' of previous swing highs - one to store away. Your comments will help to refine a picture and maybe act on next week's price action. I don't need to sell more than 20% to get to a sufficiently safe position. I have conviction about the long term bright future for the stock but don't want to get caught in a major correction.

 

[finicky]

Opened with a gap down and my imaginary triangle broken to the downside. Got up late.

Daily

 

[Porper]

Opened with a gap down and my imaginary triangle broken to the downside. Got up late.

Daily
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Worst case, down to the target area. Best case is that the recent low holds and a triangle or flat pattern forms. Either way looks like a significant top is on.

Disclosure: I don't hold.

 

[finicky]

Yeah, that's what I fear, a C leg down.
Coinciding with a major market bust, lol, shudder.

 

[finicky]

Thet are very quiet on other forums about CHN today

 

[Joules MM1]

@finicky ...correction well underway

View attachment 127545

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View attachment 127543

i do not short sell stocks, albeit, checking shortman site is probably worth the watch, high liquidity stocks attract a lot of short term traders

Chart Image

www.tradingview.com

 

[Sean K]

Yeah, that's what I fear, a C leg down.
Coinciding with a major market bust, lol, shudder.

Save some cash to double down if it gets to those levels. I'll be waiting in the bushes to pounce.

 

[Sean K]

Any CHN punters looked into the likely objections/protests from Greenies regarding opening up the Julimar State Forrest, or will this be a case that the resource will potentially be too valuable, or there's just no risk?

The only critter that I can find that might be of concern is the Chuditch thing hopping around.

From their Quarterly this am, which seems to indicate they're pretty happy with access and future drilling:

 

[finicky]

Sold 10% today @ 7.04
Bird in the hand worth two in the bush level of reasoning. The rally of the last week looks weak to me but might be wrong. Thinking of putting some of the proceeds into BBUS which could turn out fo be the worst trade of fy22.

Daily

 

[Joules MM1]

... putting some of the proceeds into BBUS ...

?? @finicky has a large pair of?

 

[Sean K]

Thinking of putting some of the proceeds into BBUS which could turn out fo be the worst trade of fy22.

Interesting. How do you know which fund/s your investing in with this? You getting dirty fingers??

 

[finicky]

Not a fund @kennas
It's an amplified bear etf of negative the SPX. Your not familiar with BBUS, or BBOZ the ASX version?
It's one of the protections that Vern Gowdie has been recommending (at a great loss so far). Also Tony Locantro is heavily hedged with BBUS (also losing so far but that's the cost of insurance)

 

[Dona Ferentes]

?? @finicky has a large pair of?

Maybe ?

 

[Sean K]

Not a fund @kennas
It's an amplified bear etf of negative the SPX. Your not familiar with BBUS, or BBOZ the ASX version?
It's one of the protections that Vern Gowdie has been recommending (at a great loss so far). Also Tony Locantro is heavily hedged with BBUS (also losing so far but that's the cost of insurance)

No idea, I just looked up the code and googled it. I'll do some more research.