Thursday, August 15, 2013

****** Trading Buy: LionGold. Share price 1.35. ( Broken up consolidation, new phase upwards?)

LionGold has broken up 1.30 critical resistance level which it has consolidated below since touching it in July 2012 last year. Could this be a start of a new upward trend upwards. Target from 1.40 to 1.50 possible in the near term. Volume at TOP 20 today currently.
Stop loss at 1.28 strictly.
Announcement – 14 Aug 2013
NEWS – 11 JULY 2013
-- LIONGOLD (LIGO): Remains optimistic on outlook for gold as "long term outlook is well supported by physical mkt dynamics". Highlights "steep fall in px of many gold mining co from the start of 2013 ultimately improves expansion opportunities for LIGO, as an active acquirer of gold assets". Will now also focus on acquisition prospects that are in production, or within 12 mths of production, to meet its annualised 2014 production tgt of 200k oz. Grp's mining portfolio now includes 5.5m oz of gold resources (~900k oz are classified as reserves). Highlights maiden commercial gold sales have reached sgd33.5m.

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