Urban mining is the wave of the future and is getting greater recognition with one urban mining company making the final four for the #Disrupt Mining Innovation Expo prize that will be awarded on Sunday, says technical analyst Clive Maund.
Related companies Enviroleach and Mineworx Tech were recommended again this morning in Four Resource Stocks to Buy Now When the Stock Market Is Down," with the part about them reading as follows:
Enviroleach Technologies Inc. (ETI:CSE; EVLLF:OTC) C$1.90, $1.46, and Mineworx Technologies Ltd. (MWX:TSX.V; MWXRF:OTCQB) C$0.27, $0.25, that we looked at again a few weeks back are still at great entry points, and appear to be impervious to the woes now afflicting the broad stock market. Both are believed to be at the tail end of corrections within strong bull markets and the news is that Enviroleach is one of the shortlist of four for the industry #DisruptMining Innovation Expo prize with the winner due to be announced this Sunday. If it wins both stocks will likely gap up on Monday; if it doesn't it’s not a problem, because the fortunes of these companies do not depend on winning a prize.
They have done well so far today, and look like they are starting their expected new uptrends. Both these stocks are in powerful bull markets for good reason, and are unlikely to be derailed by the broad stock market whatever it does, and they continue to be rated strong buys.
The following 3-month charts for both of them below show how they are looking after the completion of a healthy correction that has put them in position to embark on another upleg.
Enviroleach:
Mineworx:
Enviroleach Technologies website
Enviroleach Technologies Inc, ETI. CSX, EVLLF on OTC, trading at C$2.03, $1.59 at 3.25 pm on 2nd March 18.
Mineworx Technologies website
Mineworx Technologies Ltd, MWX.V, MWXRF on OTC, trading at C$0.28, $0.22 at 3.25 pm on 2nd March 18.
Disclosure:
1) Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.
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Charts provided by the author.
CliveMaund.com Disclosure:
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.