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Superior Resources Limited

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SPQ trade ideas

(ASX: $SPQ) ASX:SPQ Potential move to Z2 (Zone 2), due to increasing bullish volume, interest from retail, and organisational bodies. I don't think we'll see major moves in share price until we get some interesting market news. Top 20 Holders have remained the same over the last 2 years, current price reduction represents retail investors cutting losses. Despite having positive market news in April, sophisticated investors did offload some of their shares, not for a huge profit, but in order to buy back in at a lower price. ASX:SPQ Recently raised $4M AUD to proceed with further drilling and exploration projects. Options have been released with an execution price of 0.06c before Nov 24. This can be viewed positively, as the company is confident in its short to medium term capability, and is expecting to please investors. The top 20 Holders own roughly 31% of market share, considering they have remained the same over the last 2 years, we can be confident that they aren't going to dump huge volume on us retail investors. We can use the RSI to visualise how the institutions are maintaining a level of support at this key level, hopefully pulling us out of this 3 stage downtrend. I'll try and update this Idea as we get more information from the company in this exciting time!
ASX:SPQLong
by boiledpeas
ASX: SPQ - 100% in 18 Months!(ASX: SPQ) Superior Resources Limited is an Australia-based mineral exploration company. The Company's principal activities include exploration of lead-zinc-silver, copper, gold and nickel-copper-cobalt-platinum group elements (PGE) deposits in northern Queensland. The company also owns interest in the projects of Deep Yellow Limited. SPQ Recently raised $4 Million AUD via a share placement, where "sophisticated" investors where given the opportunity to purchase shares at a value of $0.03 per share. For every standard share purchased, the investor we're given 1 option with a strike price of $0.06, expiring 18 months from now. The lead manger for the prospectus is Whario Capital, which seems to be a very lucrative investment firm, who is a corporate authorised representative of Redleaf Securities. A number of shady individuals have been given access to this opportunity, one of whom has been charged and fined for dishonest conduct on the ASX. A number of these holders are either running small investment firms in order to purchase these securities, or they're doing it under there name. This "Idea" isn't based on the companies financials, the company itself seems extremely dodgy, because this isn't their first time offering options to select individuals. They claim that the $4 Million raise is to fund their existing projects and to hopefully propel them into stage 2 of a number of their projects. Their is a huge opportunity for retail investors to do their own research on this company, and potentially follow the smart money to a somewhat healthy return.
ASX:SPQLong
by boiledpeas