Eventyrer

A stock ready to go bullish (again)?

OSL:NOM   NORDIC MINING ASA
Nordic Mining is aproaching financing for its mineral project, builing a mine that will deliver rutile (titanium and pigment feedstock) and garnet (for sanding and cutting applications).

The stock has exhibited bullish behaviour as the volume sky-rocketed end of january without news, and recently had a big selloff on an announced stock-issue at NOK 2,50, and have two gaps I believe are exhaustion-gaps when regarding stock-behaviour the latest months. The stock has a strong support at apx . 2,4-2,5, and analyst target at 5,7.

Project financing are scheduled for Q3, and an updated DFS primo Q2 (just after easter).
Comment: The stock-issue secures bridge-financing until project financing is in place. The issue were anounced after close the 24th of february.

Comments

Revised DFS coming out very soon and resolvement of the complaints against the permits should also come in short order.
As the DMF already ruled in favor of NOM, this seems underpriced to me.
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