Chart take from BMRFWIW. Ya can't keep a good mine down, (no matter how hard management seems to try.)
Lion One Metals Ltd. (LIO, TSX-V)
Weakness in the overall junior resource market has wiped 50% off the value of Lion One Metals (LIO, TSX-V) since the beginning of June…this is a high-quality situation that exploded suddenly in early May after breaking out above a long-term downtrend line shown in this 10-year monthly chart…over the last 2-and-a-half months, LIO has retraced back to strong support at the downtrend line which also roughly coincides with the rising 200-day SMA…
LIO’s high-grade Gold Project in Fiji has very robust economics as reported by the company June 1 when it released a Preliminary Economic Assessment (after-tax IRR of 52% and a 1.5-year payback, all-in-sustaining costs of $779 an ounce, and pre-production capital costs of only $49 million including a 14.5% contingency)…
LIO has only 60 million shares outstanding and reported $5 million in cash with no debt at the end of March…it’s off a penny at 32 cents as of 9:45 am Pacific…
