adding more SGQ ...is a great way to build wealth!SGQ came back to fill the gap today left in mid May when it lept to the upside...on a resource expansion report, if I am not mistaken...Since then, precious wealth has been created in terms of the share price. Today volume was over 34,ooo in Canada and another 15ooo through the pinksheets. China's anticipated demand for coal is doing nothing for the share price, curiously. The more articles there seem to be about China needing more coal the more SGQ seems to slip away.. We can attribute it to the low volume late days of Summer. At least buyers overcame sellers and SGQ bounced back to only finish off five cents.
As goldmember suggested I asked SGQ investor relations for a copy of the previously discussed Tony Lesiaks report.. Quite promptly, I will say, it was forwarded to me - all 26 pages of it. He builds a strong case for his target price of $25. I would post the report here but I'm not quite sure if that would be appropriate. Interested parties can quite easily obtain one the same way I did.
While the overall situation for the company is "bullish" there are a couple of items that bear out some of my concerns. I'll take the time to comment on them more this weekend. First and foremost is the Mongolian political situation. One of the key elements there, and it goes to the fact that SGQ has such drilling potential, is that if SGQ proves up too many reserves to quickly, and thus hits a certain thresshold size / valuation they will be subject to a 35% takeover of ownership by the Mongolians. This might be avoided if IVN/RIO gets their mine in operation.
Overall based on Tony's reasoning $25 does seem do able if the chips fall our way and none get knocked off the table...More later...
SGQ.v chart - notice the positively divergent accumulation / distribution line...espeically since the July peak.
https://stockcharts.com/h-sc/ui?s=SGQ.V&p=D&yr=1&mn=1&dy=0&id=p37771921155&a=110613479&listNum=1