RE:Decent move but is it sustainable?
Matt666777 wrote: What kind of downside are we looking at if assays disappoint? Will it drop to .08 or lower if results are weak or could .08 be a new floor?
The number of shorts is up and has me hesitant on buying more shares.
There is always downside risk with exploration juniors. Fathom Nickel has several high priority targets at both Gochager and Albert Lake that will be drilled over the next two months. So the upside far outweighs any downside short term. Any one of these targets could be an economical nickel deposit. Not only that but the company has a VMS deposit near Watts Lake that has zinc, lead and silver which looks very promising.
So Fathom Nickel isn't a one trick pony. My guess is the stock has excellent support between 10 and 12 cents if both drill programs at Gochager and Albert Lake turn out to be disappointing. The upside could be phenomenal if a significant discovery is made.