Pelangio Exploration Inc. V.PX

Alternate Symbol(s): PGXPF

Metals & Mining Gold

Pelangio Exploration Inc. is a Canada-based company, which acquires and explores land packages on strategic gold belts in Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 square kilometers (km2) Manfo property, the site of seven near-surface gold discoveries, and the 284 km2 Obuasi property, located four kilometers (km) on strike and adjacent to AngloGold Ashanti’s prolific high-grade Obuasi Mine, as well as its Dankran property located adjacent to its Obuasi property. Its Canada projects include Gowan Polymetallic, Dome West, Birch Lake, Grenfell, Kenogaming, Hailstone and others. The Gowan polymetallic project is a 4.3 km2 property located in Gowan Township, 27 km northeast of the City of Timmins, Ontario and 16 km due east of Glencore’s Kidd Mine Site. Pelangio's Dome West property is located within the main Timmins camp approximately 800 meters west of Newmont’s Dome super pit.

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Pelangio Exploration Inc.

Bullboard Posts

Post by TAPickson Jan 04, 2011 9:41am

539 Views

Post# 17921357

Didn't look right

Pelangio came up on my scans 2 weeks ago as being oversold but the chart just didn't seem right to me at the time to talk about it. They have come up since as the price went nowhere. Last three days we've seen higher lows and getting near downtrend line. Volume has increased on Friday but not enough to call it a breakout, but maybe people are anticipating one! Watch for a breakout of the downtrend line with hope fully above 750,000, this would be a high volume day for it as it would represent about 3 times the recent volume. Hopefully we'll see that this week around the $1.05 mark. From there, first target is $1.30 for gains of 23.8% followed by $1.45 for gains of 38%.

See chart here and other picks here.

Cheers!

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