A gold stock in a prime position to see buyers start to apply the pressure

Potential Buy Entry Alert RSG

 

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $795.39 Million Market Cap, VWAP 1.045, ASX Ranking 256, 4 Week Av Turnover $8,098,004, Current Turnover (Intraday as at time of alert) $1,747,202, PE 11.9, Div Yield 1.91%.

Company Overview : Resolute Mining Limited (RSG) is a gold mining and exploration company with three operating mines in Africa and Australia. The mines are Syama Gold Mine in Mali (Africa), Ravenswood Gold Mine in Queensland (Australia). In addition, RSG holds a portfolio of gold development and exploration projects in Mali, Australia, Ghana and Cote D’Ivorire.

Broker Consensus : BUY

 

RSG – Resolute Mining Limited

RSG is down at a significant support level where buyers have stepped into the action previously to push price higher. We see an opportunity now for the pressure to build and will watch for a reaction and a higher low for the buy entry setup. If the action gets ugly and heads lower, then we will have to re-assess the price.

 

Stock Code : RSG – Resolute Mining Limited

Company Website : www.rml.com.au

Current Price : 1.055

Status : On watch for buy entry setup