PDI - Predictive Discovery

[Sean K]

There's bigger players holding this where it is, IMO. They're running out of time to accumulate. That's my basic theory on institutional buying.

Otherwise, it broke through 28c, which I contributed to, and has tested support and held, which is positive. It's not broken through yet though.

 

[TechnoCap]

There's bigger players holding this where it is, IMO. They're running out of time to accumulate. That's my basic theory on institutional buying.

Otherwise, it broke through 28c, which I contributed to, and has tested support and held, which is positive. It's not broken through yet though.

View attachment 135712

it will be like Makybe Diva soon breaking through at the 200m mark to win her third Melbourne Cup

I hope...

 

[Sean K]

it will be like Makybe Diva soon breaking through at the 200m mark to win her third Melbourne Cup

I hope...

Let's hope so. These things (based on basic TA) don't always go to plan due to extraneous forces. Like a sudden plunge in gold overnight when the big banks are trading support and resistance lines - gold approaching 1830 is a sell, or another coup. But, all else being equal, this is a nice set up, touch wood. If you're short term trading this then a break down through the support is short term trouble.

 

[TechnoCap]

Let's hope so. These things (based on basic TA) don't always go to plan due to extraneous forces. Like a sudden plunge in gold overnight when the big banks are trading support and resistance lines - gold approaching 1830 is a sell, or another coup. But, all else being equal, this is a nice set up, touch wood. If you're short term trading this then a break down through the support is short term trouble.

hands and heels at 0.26c

 

[Sean K]

Well, she ended the week indecisively, pausing at the 27.5 mark. I had the resistance at 27, but it's obviously 27 +/- a pip. We may be in the hands of US Friday gold trading Gods. Or, whoever is stopping it go through 27 ish cents decides they've got enough. I'm not sure if that's conspiracy theory stuff or real.

 

[Sean K]

Sprott update on the last deep drilling results. They're estimating another 850K oz to the first MRE, to date. But there will certainly be more with the additional discoveries listed previously, and it's not closing off at depth in the main deposit. So, 4.5m ounces is a certainty in the next MRE upgrade. Put $150-200 and ounce on that for a potential valuation this year. Current MC $350m which rates them at $100 an ounce on current MRE. The discount has to be the country risk and monkeys. While still risky, that's the game we are playing.

A break clear through the ceiling of 27c -ish on this ascending triangle has a 38c -ish target.

 

[Sean K]

Once again, failed at 27 ish. The long wicks on the last week's candles look like trouble to me, but it's still respecting that short term upward support line. Just. I actually hope it goes back to the diagonal support line now as a longer term opportunity to add. Clearly breaking 27c with volume and maybe testing it will be a great short term opportunity.

 

[peter2]

You know what they say, "a watched pot never boils". OR Monkeys can always find a plentiful supply of bananas.
And you haven't even mentioned that HCH is sneaking higher.

 

[Sean K]

You know what they say, "a watched pot never boils". OR Monkeys can always find a plentiful supply of bananas.
And you haven't even mentioned that HCH is sneaking higher.

I watch all my pots. But, the reason for watching this so closely at the moment is the TA set up. I'm posting regular charts on it now as an example of what could happen in a short/medium term time frame, which means it will probably break down through support now.

I think I've mentioned HCH is possibly bouncing, and posted up the levels of S&R, IMO, but I have less faith in that. I'm not married to it.

 

[Sean K]

There was a lot of red on my screens yesterday and PDI went with the trend. Just keeping in the triangle and on some support. With POG breaking through 1830 that should support this keeping in the upper corner of the triangle and probability of breaking up. But, it's hard to say if any technical damage is being done by continuing to fail at 27 ish cents. It's getting frustrating.

 

[Porper]

There is bearish divergence on the daily and weekly charts too. Provides a short-term headwind.

 

[Sean K]

Quarterly out and the summary sounds pretty good. I wonder if Sprott and the likes are underestimating the next MRE upgrade like we all did with the initial MRE. I have a feeling they are being conservative with the additional 800k oz already defined under Bankan. The grades and widths are extraordinary at depth. And, I don't think they're counting on 800 W and SW Bankan.

 

[Sean K]

Exploration drilling to just 50m or so is hitting some very good intercepts, especially some of the grades from very shallow. 800W looks like it'll turn into a deposit to be mined and add significant ounces to the global resource. Hitting over 100g/m gold from surface is outstanding. If these deposits are similar to NE Bankan with grades increasing at depth down to 500m plus, then it could be anything.

 

[Sean K]

PDI curiously gone down over the past month while POG has gone radically north. Hmmm

 

[Sean K]

Over a month later and PDI still hugging 20c or a MC of about $270m with 3.65m ounces so far and bound to grow to the 4m ounce mark easily. $73 an ounce is almost like stealing candy from a baby here. Unless democracy suddenly breaks out in West Africa of course. Then this will never turn into a mine.

 

[Sean K]

Pretty boring old quarterly except for the note that they're going to get some extra drills in the ground. Looks like they've confirmed that they'll plan for an underground operation in the main deposit in a PFS. Next MRE including those holes at depth will be quite significant I imagine.

I don't think the pit can be made any deeper but it can certainly go out to the north with the hits identified on the cartoon below. Will change the overall ounces in the optimised shell.

I think this will be significantly re-rated once they get a concession to mine the edges of the monkey park.

Just going to keep topping up on any opportunity under $300m MC. Obviously still risky due to the monkeys and that's why Mr Market doesn't like it.

 

[Ann]

PDI curiously gone down over the past month while POG has gone radically north. Hmmm

CHN went north even as the POG was falling the last time around. Perhaps this is another of those contrarian stocks. I really like the look of the chart. For some reason, I have not got this on watch for gold, now I have!

We had a big fall today but I see PDI is sitting nicely on the horizontal support/resistance. This is just the chart shape that really catches my attention. If this can lift back above the 200dmas, I may well be tempted. Although I am waiting to buy into gold, maybe a mistake, wouldn't have been my first!

 

[Sean K]

CHN went north even as the POG was falling the last time around. Perhaps this is another of those contrarian stocks. I really like the look of the chart. For some reason, I have not got this on watch for gold, now I have!

We had a big fall today but I see PDI is sitting nicely on the horizontal support/resistance. This is just the chart shape that really catches my attention. If this can lift back above the 200dmas, I may well be tempted. Although I am waiting to buy into gold, maybe a mistake, wouldn't have been my first!

View attachment 140880

Just about everything tanked the last 2 trading sessions. Commodities crunched. When you look at the Lithium, Zinc, Tin, etc, prices you can see it's going 1500s tulip-like. But, I think there's more fundamentals surrounding the metals as opposed to flowers, and it's going to be buying time for longer term investors. Short term traders should have been stopped out.

 

[Sean K]

Definitely going UG mining here. Planning to drill down to about a k by the looks of the cartoon below. If the grades and widths continue to those levels it's going to be huge. Sprott's pluck on how many ounces they are adding is 5K per vertical meter. I think they are now 200m below the MRE which equals an additional million ounces and it's still open. If they keep going to the 1km depth mark at this rate that will be an additional 3Moz +/- taking the resource to 6.5Moz Au.

Let's hope the ESG studies, along with the mandatory Aldi bags, give them a mining licence.

 

[Sean K]

Sprott update. I'll be happy with 40c, thanks.