While the junior resource market in general appears on holidays, SQI is trading strongly and appears ready to make a move to highs of last year and beyond.
Helping drive the stock is a very bullish research report from Paradigm Capital (Analysts at Paradigm Research initiated coverage of Silver Quest Resources with a “SPECULATIVE BUY” rating on Tuesday and a 12 month target price of $1.30). I can’t post it but I can tell you it’s major thrust is the belief similar to mind and some others who believe SQI’s entire market cap isn’t equal to the value of SQI’s 25% interest in the Davidson Property. Like me, they suspect it makes great sense for New Gold to come after SQI’s interest in Davidson and/or SQI itself once it closes its deal with Richfield Ventures (next Monday).
A close above $.85 should be very bullish as MACD is also giving major new buy signal.