RE: RE: complete articleMy two cents.
Not a good choice of adjectives Smiles48.... "plunges" for a stock that traded flat for the day and that was up during the market downturn of the past 3 weeks.
Not everyone read the article that has been posted on this board by Urlyretirement.
There probably were a lot of day traders on Friday making a few cents on some big volume.
36 cents was a big resistance point. People felt it was not going to be tested and bailed out prematurley.
I take from Fridays large volume: a lot of new eyes are watching this stock and know the fundamentals and that 9.3 million shares that were traded on Friday from all the exchanges are in stronger hands.
Quantum already has 1.2 billion pounds of Niobium in the ground (Niobium sells for $22 a pound). The resource should grow rapidly from the infill holes that it just drilled. The infill holes were drilled in a section of the deposit that was not part of the inferred resource.
The rare earth part of the deposit has some holes as well that are coming back soon. The best hole that Molycorp drilled in the 80's had 155.5 meters of 2.7% rare earths.
The combination of these two deposits (niobium and rare earths) only 2-3 km away from each other makes for a very interesting story.