Buyers working away holding higher levels under selling pressure

Potential Buy Entry Alert to Watch GRR

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $312.48 Million Market Cap, VWAP 0.27, ASX Ranking 445, 4 Week Av Turnover $620,315, Current Turnover (Intraday as at time of alert) $198,720, PE 2.8, Div Yield 7.41%.

Company Overview : Grange Resources Ltd (GRR) owns and operates iron ore mining and pellet production business located in the northwest region of Tasmania. GRR focuses on magnetite projects in two main areas, namely, Savage River Operation and Southdown Project.

Broker Consensus : Not covered by a major broker

GRR – Grange Resources Limited

GRR has not appreciated from rising Iron ore prices as other more common names but we expect the company may play catchup soon after recent mineral resource estimates firming up confidence in long term mine life. Price continues to hold higher levels in the face of selling pressure so we are watching for this trend to continue. Looking for a higher low to build the evidence that buyers are in control and will to push price through 0.35 highs.

Stock Code : GRR – Grange Resources Limited

Company Website : www.grangeresources.com.au

Current Price : 0.27

Status : On watch for potential higher low and push up through 0.29