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LMG - LATROBE MAGNESIUM LIMITED


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Hi All,

Always good, for me any way, to read TA discussions, specially Arty's dissertations.

About the gap, Dr Elder described such a gap as a breakaway gap.

Falko, after many hours in his pose as "Rodins thinker" has defined Elders breakaway gap to what he calls a Genuine Breakaway Gap( GBG ).

Falko's definition of a GBG is as follows:

The gap must break away, into, though or above a definite support/resistance area ( allow 3 % rule ) on very good volume.

Good volume would be defined as at least twice the average volume of the last ten trading days.

A GBG has no requirement to be filled, neither by a tail or a close, although perhaps fifty percent are.

Because a GBG has no requirement to be filled Falko's plan is to buy on the GBG day or on opening the next day.

Yes, they may see you coming but if it motors away you are left on the sidelines to miss what are often very good gains.

On the other hand if it fills the gap, buy more and you will be also buying more safely on the turn of the pullback.

The longer the support/resistance line and the stronger the volume, the stronger the GBG.

GBG's do not count in a gappy stock of course and they like all signals can fail completly, especially in a weak market.

 

Falko, who has a licence to drive a car, but unlike his partner has no licence to give advise.

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Ps,

Forgot to add, I agree with Arty. The divergence in Dec is to far back for consequence especially in a P Dreadfull.

The MACD has equaled the last rise and may likely rise further if the price does.

Yay though I walk in the valley of great risk, I fear not the dreaded Bear Divergence.

falko

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  • 10 years later...

very little on LMG for 10 years.  Is it the same company?

Latrobe Magnesium Limited (LMG) is developing a magnesium production plant in the Latrobe Valley, Victoria, using its world first patented extraction process. LMG intends to extract and sell magnesium metal and cementitious material from Yallourn ash, which is currently a waste stream from brown coal power generation.

Seem to be staying true to label, and things moving along. Up 30%+ today to 4.5c

.... last week. issued a total of 120 million ordinary shares to investors at an issue price 2.5 cents and 60 million attaching options exercisable at 4 cents within the next two years.

Update on Funding Plan
 
LMG will provide both magnesium and supplementary cementitious materials samples produced from the Yallourn fly ash to two potential cornerstone investors within the next month so that they can finalise their investment in LMG by January 2022.  LMG also has a grant application with the Victorian State Government which is currently being assessed.  
 
LMG estimates that the current cost of the first stage of the initial plant will be in the order of $45 million and the company is extremely confident of securing cornerstone, together with government funding over coming months. To date there has been some $2.5 million has been spent on the initial plant.... and looks like these investors plus Project Funding  (being Research & Development Rebates & project finance) may even get them over the line.

 

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QUARTERLY ACTIVITIES REPORT 30 September 2021

LATROBE MAGNESIUM PROJECT Highlights

  • $3M over subscribed placement backed by leading Melbourne Boutique Peak Asset Management together with fresh equities settled to fast track completion of design and engineering services for initial magnesium plant in Latrobe Valley
  • $814,000 funding received in October from R&D rebate
  • The company is confident of securing two Cornerstone investors, together with Government funding over the coming months
  • Initial plant 3,000tpa plant expected to generate $28M in revenue.
  • Entered into an agreement with RTL Mining and Earthworks Pty Ltd to sublease a portion of their 3,000tpa Demonstration Plant Site

............... holding the recent uplift. today is 5.6c

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