Not Enough News to Sustain the Rise of GMAWhile I love this stock, the news was great, but not enough meat on the bones. As ususal Kiril and friends do not know how to write news releases.
The headline should have read:
Geomega signs Agreement for Resarch and Pilot Project Development for REE Recovery from Bauxite byproduct with Major international Aluminum Partner
not
Innord Develops Bauxite Residues Process Using Its Environmentally Friendly Technology
The message in the NR, as usual, lacks to project upside value for company and its shareholders..
So I do not see any further news for now, so this stock should slowly sink.
Key support levels for the stock appear to be at:
$0.44
$0.40
$0.37
$0.30
An informed investor in this space may consider buying out this company at a huge premium, but that is just sheer speculation.
I hope that they build their REE recovery plant this year and starts production. But I doubt it, because we have not heard any progress about this.(yet).