OZM - OzAurum Resources

[greggles]

OZM has been holding up rather well since last week's share price surge. In Friday's trading it briefly touched 17c but was met with a wall of selling as that is near the price that shares from the previous CR were issued at. I think it was 16c. Anyway, it finished Friday at 12.5c and this morning it is trading a cent down from that at 11.5c.

Word has come through this morning that due diligence has been completed on the Linopolis Jaime hard rock lithium project on Brazil and the acquisition will proceed as planned.

I expect some more price weakness in the short term as profit takers continue to exit and think the share price will flirt with the 10c level soon. A break down through that level would be bearish, so I will be keeping an eye on its price action in the coming days.

 

[greggles]

OZM is having a good November so far, up from around 8.5c to 15c. Management has shifted their focus to the Linopolis Jaime Lithium Project in Brazil and it is starting to look very promising.

The market is showing a high level of interest in OZM at the moment with sellers unwilling to part with their stock amid an upkick in buying, sending the share price spiraling higher.

 

[greggles]

OZM down from 20c to 11c in only a couple of weeks. There has been no bad news announced during that time. I think the recent sell off is overdone and we will see a rebound in December.