See also previous blogs. From the big picture it is clear that this stock could easily go higher than the $2.80 that it reached three years and a bit (not on the lower chart) ago. There is no prospecting or any of that kind of uncertainty attached to this stock, just the permits and the improved technologies that allow more of the precious metal to be leached out of the tailings. Our best guess here is that a wave 2 (A-B-C or A-B-C X A-B-C) was completed either in July last year or more recently in Dec. of this year. What stands out is a fairly clear triangle (always a wave 4 or B). The stock should normally trade back to the highest point in the triangle ($1.40) as a minimum. The gap recently suggest a wave 3 of minor 1 is in progress. It should complete near the $1 mark, then fall back a bit and then continue up. This may even happen a little sooner as the stock is a bit overbought. The ZJG (BMO Junior golds) more or less confirms the idea of of a large A-B-C down, from $25 to $5.76, see below;
Ready to break out?