SKY - Sky Metals

[tech/a]

I have been watching PGS since the breakout above 1.2c but didn't buy a position as it is pretty thinly traded the majority of the time. Seems to be making its way up nicely without much of a hitch. Nothing concerning, currently. If you managed to buy in at Mondays open you would already have more than a 40% return. Not bad at all if you ask me.

View attachment 70905

Need to identify 11 March!

 

[Cam019]

Need to identify 11 March!

March 11? There is no March 11 on the chart. Do you mean March 14?

 

[tech/a]

Next bar after 10th

 

[Cam019]

At that volume it could only be 'smart money' driving up the price and then selling off into strength.

 

[tech/a]

Don't think so.
Not much supply just buying
Those selling have probably held forever.

Currently this chart is nothing but bullish

 

[System]

On June 20th, 2019, Planet Gas Limited (PGS) changed its name and ASX code to Sky Metals Limited (SKY).

 

[greggles]

Sky Metals share price surging today following the release of results from the maiden drilling programme at the Hume Prospect at the Cullarin Project. Drilling was completed in January 2020.

Some great results there that definitely give the impression of a sizeable gold deposit. Plans for a drill focussed exploration programme are currently well advanced with details to come.

Today's price action really speaks for itself. Currently up 147.6% to 26c on volume of almost 20 million shares.

 

[barney]

Sky Metals share price surging today following the release of results from the maiden drilling programme at the Hume Prospect at the Cullarin Project.

Cheers for the heads up Greg.

Intersection looks stunning, but I'm a bit wary of the lack of opposing direction drill holes to prove true width of the intersections.

i.e.. Have they drilled directly down the vein??

Time will tell, but this kind of announcement without "verification" makes me a bit until proven otherwise.

 

[greggles]

Cheers for the heads up Greg.

Intersection looks stunning, but I'm a bit wary of the lack of opposing direction drill holes to prove true width of the intersections.

i.e.. Have they drilled directly down the vein??

Time will tell, but this kind of announcement without "verification" makes me a bit until proven otherwise.

Agreed barney. There is still a lot of work to do here but the initial signs are encouraging.

The next drilling programme will hopefully reveal a lot more about what's under the ground at the Hume Prospect. No word yet as to exactly when that will start, but I imagine that the company will want to start on it as soon as is practicable.

The share price is holding up well today, so obviously there is still quite a lot of buyers jumping in, although I expect that this will start to taper off soon and we will probably see a bit of a retrace in the coming days.

 

[barney]

Been watching this little battler since @greggles posted the big Gold hit they had earlier in the year.

All down hill since then. The market seems to have concluded their 93 mtrs at 4.24 g/t Gold was a flash in the pan.

Effectively (in my opinion), the big hit was actually a wide range lowish volume hit.

In my opinion (again), wide range low volume hits are far better than tiny range nuggety hits, so on that basis, I have decided to finally purchase a few SKY based on the theory that where there is smoke there is fire (or drug dealers depending on where you live)

Apart from actually taking a position, I have chosen SKY as my ASF monthly comp pick. In other words, I have simply taken the opportunity to unashamedly promote a Stock I own

Yes, I may be a terrible person, but at least I'm honest

No doubt, while I hold, I will be posting further ramps, (sorry I mean updates) to see how my assessment of the stock turns out ... So either or (normal protocol in other words)

 

[barney]

No doubt, while I hold, I will be posting further ramps, (sorry I mean updates)

Been a while between "ramps" for this little fella.

Has been trading in a tight range between 12.5 - 13 cents for ages ... Suddenly, today it has a little bo-peep at the next level.

They have a swag of drilling going on. I'm of the opinion that there has to be more resource where they are looking based on some of the earlier hits, and history proves it can double in price very quickly.

300 million shares on issue
$40 million market cap
$9 million Cash in the kitty

Price action today (on a Friday) says the Kitty is happier than he has been for a while Looking forward to the next drill results.

 

[frugal.rock]

Looking forward to the next drill results.

What's your ballpark guess of when next drilling results are out Mr ye olde Barney?

 

[barney]

What's your ballpark guess of when next drilling results are out Mr ye olde Barney?

Not really sure Froogs. Current drilling at Cullarin will likely have some assays waiting at the lab but the labs are chockers at the moment apparently. More drilling still underway with a lot of upcoming work to start October/November.

Could possibly get some prelim results in the next two weeks but that is just a guess.

 

[over9k]

This is nearly back to its 2019 levels. Market running out of patience or lost hope?

 

[barney]

This is nearly back to its 2019 levels. Market running out of patience or lost hope?

I think the day traders sucked the life out of it just after the big 93m @ 4.42g/t Au strike back in Feb, right up till May.

The Company never quite followed up those results other than some impressive Historical re-assays, so the SP has since died a slow death

At these levels I'd class it a low risk punt and hold based on the Cullarin prospect looks a potentially very large lowish grade deposit to me. If they don't drill anything worthwhile in the current campaign however it will continue to meander.

 

[frugal.rock]

so the SP has since died a slow death

I was holding Heron when they started drilling on some of these farmed out results.
Was waiting for drilling results, next thing I hear was farmed out.... and SKY hitting the sky...
Caution !
(CLA might be the next pumpa...)

 

[barney]

(CLA might be the next pumpa...)

CLA has started murmuring again last couple of days as you say Rock. Volume still modest, so maybe a it bit more accumulating before a definitive second move?

SKY is also bubbling a bit on low Volume ..... Not much Supply showing up even at these low Volumes so it wont take much to move this little battler if they get a sniff of good news.

 

[barney]

SKY is also bubbling a bit on low Volume ..... Not much Supply showing up even at these low Volumes so it wont take much to move this little battler if they get a sniff of good news.

No official news on latest assays yet but a few punters getting involved. Volume still modest so nothing definitive unless 21 gets eaten up.

 

[barney]

Another one of my wobbly trades. Been meandering sideways for a long time. I like their Projects and they have some very positive strikes so far, but the Punters are more interested in fiction than fact at this end of the Market

Anyway, its getting close to moving one way or the other,

I imagine they might have some drill results not far away from Hume at least? Certainly needs a bump from somewhere.

 

[Cam019]

Another one of my wobbly trades. Been meandering sideways for a long time. I like their Projects and they have some very positive strikes so far, but the Punters are more interested in fiction than fact at this end of the Market

Anyway, its getting close to moving one way or the other,

I imagine they might have some drill results not far away from Hume at least? Certainly needs a bump from somewhere.

View attachment 118717

Up. Some buyers liked the price between $0.175 - $0.195. Now, is there demand at higher prices @barney ? For your sake, I hope so!