Planning to bore a sideways tunnel to the other gold deposit sounds very sensible and cost effective.....and you never know what they might find in between........another load of gold they missed even.
Any weakness in the sp and I'm in for more.
To quote a famous Austraian poem by A.B. Patterson; “There was movement at the station cause the word had passed around……”
Huge volume today 1,480,000 with large swipes having been taken 300,000 – 330,000 – 477,508
Any ideas?
Another large swipe at 444,770, something has to be going on!
Cheers
I agree was very positive that it broke 35, but will face plenty of resistance on the way to 40, IMO. MACD looks to be confirming a bottom was found at 32ish, and now momentum is up. Breaking BB on the up in itself isn't necessarily a great thing, but relative to it's move down I see this as positive, and it probably will turn here, pending general market staying healthy. Having said that, I like to see a past resistance level tested as support again before a true break can be claimed.Here are a few facts that will put today’s trading in NWR into more perspective. This share has only been over 1,500,000 5 times in its life and 2,000,000 once with aprox. 35,000,000 shares on issue ATM this equates to a 5.7% daily turnover (refer to chart below). To keep this in context, it must be recognised that due to the placement in December there are a lot more shares out and now 18.28 million to be exact, however almost 6% of the total share were transacted in a day. There have been allot of seagull sellers now taken out of the equation, which will only be good for further momentum now. The old support of 35c had now begun to form resistance and has now been taken out, a crucial hurdle IMO. The upper Bollinger band has also been broken today, if only by 1.5c or 4.3% (refer to chart below), due to the tight trading range over the last 6 weeks
It will be interesting to see if there is a change in substantial holding notice next week. I wouldn’t have thought that there were detailed drill results for weeks (6-8), anyway time will tell.
Best of luck to all those who are long
Either way good to see some action. I hate the lack of news but I love what the company is doing. Its the most frustrating stock in my portfolio and the worst performing but I'm patient enough to hold for a little while yet. The potential is huge.
If NWR is your worst performer i need some portfolio building tips form you!
Looks like previous resistance has formed support, for the minute. As expected lots of resistance between 35 ans 37 ish. Perhaps it has changed to the up.I agree was very positive that it broke 35, but will face plenty of resistance on the way to 40, IMO. MACD looks to be confirming a bottom was found at 32ish, and now momentum is up. Breaking BB on the up in itself isn't necessarily a great thing, but relative to it's move down I see this as positive, and it probably will turn here, pending general market staying healthy. Having said that, I like to see a past resistance level tested as support again before a true break can be claimed.
Another very positive development on the potential of the two parrallel shear zones is they run into leases owned byWTE - Wedgetail. WTE has proven up inxs of one million ounces of au in reserves and resources and is fully funded for mine development and production.
WTE has directed all of its current drilling into the Eastern end of NWR's claim block where the Red Ribbon and Blue Spec Shears run into WTE ground (for about 7 kms). Drilling has been shallow RC and has found substantial quantities of open pittable high grade ore on the two shears in the "Golden Gate" area. IMHO this augurs very well for NWR's potential to find multi millions of hi grade ounces along 32 kms of shears that they control.
WTE is valued at $65,000,000 on the basis of open pittable low grade ore and NWR is $16,500,000. NWR could go to production at 40,000 oz per year on their existing plant and permitting. Next few announcement should be very interesting, as they are talking the highest grade gold mine in Australia, IMHO the next few reports will continue to show the very substantial potential of the area.
News seems to be a problem...otherwise it's a goer IMO.
Watching every day for a breakout in case we get a bit of action (inside) going.
Anyone still in NWR? Pacer you still like them?
This is the first time the price has dropped lower then the price i bought in at .27 for me. Bit nervous that the news coming out has not been extraordinary.
Bought in at 34c. Still holding and expect to do OK with this one. They seem to have the gold but will take a little time to prove themselves. I hadn't expected a sudden rise but I also did not expect the slide in price. I'm happy to hold and expect more interest in them in the new financial year.Anyone still in NWR? Pacer you still like them?
This is the first time the price has dropped lower then the price i bought in at .27 for me. Bit nervous that the news coming out has not been extraordinary.
Bought in at 34c. Still holding and expect to do OK with this one. They seem to have the gold but will take a little time to prove themselves. I hadn't expected a sudden rise but I also did not expect the slide in price. I'm happy to hold and expect more interest in them in the new financial year.
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