Wednesday, June 22, 2016

Wesdome Gold - No News But The Charts Are Telling There Is Something Big In The Making

Since the Annual Meeting there is no news from Wesdome Gold. However, many things are happening as far as Wesdome share price action is concerned:

Note the following events:

  • The upper panel shows that since middle 2013 Wesdome shares have been stronger than the broad precious metals market, represented by GDX (the way I present the chart is a little bit unorthodox - GDX is expressed in US dollars while WDO.TO chart is in Canadian dollars - well, there is no Wesdome chart available in US dollars)
  • the panel in the middle shows that Wesdome shares are trading in rectangles. Firstly, they were trading in the rectangle 1, then, after breaking up, they started trading in the rectangle 2 etc. - well, the pattern is quite simple
  • the lower panel shows that, starting from late 2015, the trading volume went strongly up. You can spot similar patterns looking at the charts of other small-cap miners but Wesdome beats them all. Here the increase in volume is particularly impressive.
Summarizing - although there is no news from the company, the trading activity indicates that something big is happening...


  1. SG, is there an address to which I can direct a private email to you?

  2. SG: this appears to be part of the story

    1. IKN is too much about conspiracy theories. I do not buy it. For me, Wesdome was a buy somewhen in 2015. Why? Because it is a very decent company, especially its Eagle River Mine (very similar to the Island Gold mine of Richmont).

      I am more about the analysis than about looking at who enters the company's office etc.

      But if somebody makes money in the way IKN does (if it makes any money) - well, why not?