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AXE - ARCHER MATERIALS LIMITED


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Well, that old gap had to be closed, and closed it's now been.

If this level were to hold, the chart would show an attractive Bullish MACD Divergence.

 

post-20537-1340329276_thumb.jpg

(attractive to Technical Traders; sorry Mel ;) )

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This announcement should do it:

 

  • Completion of sale of West Roxby Tenements.
  • Archer has received payment of $8.0 million from BHP Billiton.
  • After receipt of funds, Archer has over $13.0 million in cash and plans to accelerate development of its 100% owned Campoona Graphite Deposit

 

Trading resumes at 12:13

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Good luck arty. I wish you well. AXE is one I will NOT be on. Ever!

The only graphite plays I'm on are SYR/CSE. I see no reason to jump off those to play inferior companies.

I rate AXE at about their cash backing. Not much more. I rate their graphite project at NIL.

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the answer is probably "blinkers"

The Campoona deposit may not be of the same size as SYR's, but sovereign risk surely is in our favour.

Doesn't mean it's one OR the other. Smart money always spreads the "eggs" over several baskets.

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arty,

You accuse me of blinkers hey? If you really want the dirt/shit on AXE's metallurgy, drop me a PM. I really thought better of you than to discredit me like that. Very disappointing arty.

 

"Smart money always spreads the "eggs" over several baskets"

Bullshite. The smart money goes in hard on the best play and leaves the inferior companies to the gumbies.

 

right edge: "What do you make of today's metallurgical results?"

 

Absolute crap. That's what I made of them.

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This will, in my opinion, continue to trade at not much more than cash backing, essentially valuing the graphite at nil. It will trade between 17c and 25c IMO. Good luck to those that try and trade it or hold it.
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That's all good and well but tell us what you don't like about the metallurgy.

AXE will break out to new highs +45c within weeks imho.

Traders need to exit and the pros are accommodating some tax loss selling atm.

New financial year, new highs.

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