Post by
Chipshot2 on Jan 02, 2021 9:18am
This Time
I took a look back at the last time the share price had a great move higher, starting at $.03 and hitting a high of $.19 or about 6 times.
It started shortly after Kincora closed the deal with Rarex and then started drilling at Trundle. It seemed that investors had a sense of the potential at Trundle early on and then came the report of strong visual results from the first hole at Trundle and shortly after that, what looked like positive results with the first hole at Mordialloc.
It was July 6th when the drill results for the first hole were released and the share price peaked.
Sam was also busy gathering support for an upcoming fund raising which happened in August.
For the next couple of months Kincora continued to drill and the share price bounced between $.10 and $.15. Looking at the chart, there appeared to be a very distinct "Cup and Handle" formation. Until November 9th when a seller entered the market knocking the share price down selling at least 10 million shares. That seller was never identified but I speculate that this selling may have had something to do with the future ASX listing. (strictly speculation with absolutely no proof)
Fast forward to present time.
After the period of selling pressure ended, Kincora share price started to rise from a low of $.07.
In the last couple of weeks there has been discussion of more potentially positive results from recent holes drilled with the core sent away to the lab for "Priority" assay. My best guess is that drill results will be released in Mid January.
In the meantime, the team is so encouraged with what they have seen in the recent cores that they are adding a second drill at Trundle.
A deal has been announced that minimizes the risk and maximizes the upside potential of the Mongolian Assets allowing Kincora to put their full attention on the projects in NSW.
Now add into the mix that Kincora will be raising funds in conjuction with a listing on the ASX.
It all looks very familiar to the last run up, execpt this time I think there is "more meat on the bone".
So the question is, how will the share price react THIS TIME? (6 times $.07 is $.42)
The next 2 to 3 months have to potential to be company changing and I for one am looking forward to a much higher share price. Sam himself said in a recent news release; "...certainly provide significant encouragement and suggest that Kincora won't be a (only) $16m market capitalized company for much longer".
Happy New Year to Kincora shareholders.
Chipshot2