Deeply oversold at .43 (Daily RSI = 21) with a single seller reloading the ask. Trading at major discount to recent financing of .635. Last tranche is yet to close, so this is most likely one of the participants unloading a position. Stock tends to swing wildly when it gets oversold so I would not be surprised it will be back in the .60s after the iced ask is taken out.
- “The Sangdong mine (owned 100% by Almonty) will be one of the biggest western owned tungsten mines in the world”: youtube.com/watch?v=O-X0vIb9AIo
- “The tungsten concentrate price in China moved up due to the tight supply. Producers predict the raw material price will rise further before the Lunar New Year holiday (January 24-30).”
Looking great for a bounce in early 2020!!
wealth_bakery
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Insiders putting 250K into .635 financing is a nice vote of confidence.