Austral Gold 10 Bagger

Checkout my other post for some fundamentals, looking at the long-term chart view of AGLD we can see that a possible bottom has been carved out and is forming a bullish inverse Head and Shoulders pattern. As gold continues to rise, the un-hedged production at Austral will continue to generate cash to fund drilling and acquisitions without dilution. A dropping gold/silver ratio will add value quickly to the paused casposo asset.

I personally expected gold to break $1600 by the end of Q1, it did that by the end of the first week of 2020. With that sort of interest in the metal I would expect gold to trade up into the 1700-1800 zone by year end and possibly even record highs by this time next year.

Austral just posted new drill results 7km from their existing chilean operations. highest section was 19g/t over 1m.


Comment: Breaking out of the H/S pattern right on schedule!
Trade active: https://www.australgold.com/wp-content/u...

New corporate presentation, lots of exploration and potential casposo restart in Q4
Comment: Special 0.009AUD dividend... looking like it wants to test the upper teens. Cash is flowing.
Comment: Okay, so AGD has broken out of a bullish rising wedge pattern on 10x normal volume days before earnings and just after a special dividend. Things are looking like they will escalate from here.

Comment: Watch that large bullish candle pushing through the 20-30 cent resistance zone. Could get choppy here but likely not worth trying to trade it... I would add to my positions on any dips here.

if austral breaks 40 cents and holds this will target $1 when gold is trading over $2500 and silver over $50 IMO
Comment: Great time to add to long positions IMO, GLTA.