I first posted a chart of Regulus Resources (REG.V) on CEO Chat three weeks ago after being made aware of substantial insider participation in the company’s latest private placement:
Since then I’ve updated the chart a few times and REG shares have broken out to the tune of a ~40% gain:
Last Wednesday/Thursday’s breakout occurred on relatively heavy volume and REG shares have since dipped about 10% on thin volume. The C$1.40 breakout level should now serve as support with last Thursday’s high at C$1.87 now representing new upside resistance.
Regulus is focused on its AntaKori copper-gold project in Peru and the company recently raised nearly C$14 million, a large portion of which will be used for an extensive drill program at AntaKori which will commence in Q4 of this year.
While Regulus is focused on AntaKori in Peru, the company has an impressive array of copper/gold projects throughout the Americas:
REG was our first addition to the CEO Technician junior resource model portfolio and we will certainly keep this company near the top of our watch list.
DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. Regulus Resources (REG.V) is a high-risk venture stock and not suitable for most investors. Consult Regulus Resources’ SEDAR profile for important risk disclosures.This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher ofEnergyandGold.com. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.comfor important risk disclosures. It’s your money and your responsibility.