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Wednesday, October 25, 2017

Alliance Mineral - Consolidating for the Next Break

Alliance Mineral - Recent news flow has been very positive. The company reported that they have been approached by a number of parties to explore a potential transaction which may involve the ordinary shares of the company. This will hold up the share price and will be a potential catalyst for the share price. In addition, according to the latest report from Burwill, the lithium concentrate purchased at fixed price for the first two years will increase by approximately 40% compared to the original offtake amount. From the chart, the near term support is 0.365, and the share price is consolidating for the next push to break the last high of 0.425 and subsequently towards 0.44.

All posts and charts are for educational and illustration purposes only

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