This company has been a total disaster and recently made a new all-time low. It has since recovered on high volume. It mines bauxite and prices have been rising. If inflation takes off, that is a solid chart base. I do have a position as a hedge since I expect inflation will peter out as supply-chain disruptions fade next year. If I'm wrong, this looks like a promising set up.
A PEA is expected in the next week or so. Palisades exercised 4 million warrants out of the money. If you did this transaction yourself, you would have paid 18 cents per share for shares trading at 11.5 cents yesterday. They didn't buy their warrants, but it's a notable move. The chart is also screaming for an eventual breakout. I have a big position in the warrants. I should point out I'm not terribly sold on the fundamentals yet, thought the PEA could change that. Rather, I like the chart and that there are tradable warrants. Warrants expire in July 2024.
Previous post on MEX here.
Harfang is down to 29.5 cents as I post. That puts it right around major support. Conversely, a clean head and shoulders pattern has completed. tie goes to the dominant trend which is a bull market. Harfang is at a 50 percent discount from its March high.