Don't Forget To
Rate This Article
   

Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

TICKERS: KRL; 6J0

Gold Explorer 'Looking Better and Better'
Contributed Opinion

Share on Stocktwits

Source:

Technical analyst Clive Maund charts Kainantu Resources and explains why he has a Buy recommendation on the explorer with projects in Papua New Guinea.

Kainantu Resources Ltd. (KRL:TSX.V; 6J0:FSE) continues to shape up nicely as it gets closer and closer to making serious gains, and we should keep in mind that this is a stock with the potential to “do a K92,” which is hardly surprising as its properties are adjacent to K92’s big discovery and it has a robust treasury, having recently completed an oversubscribed financing and is working on a drilling program.

We have looked at Kainantu several times since the start of the year, buying it very near to its lows or at opportune times on dips and this update is simply a reminder that it continues to look good and is a buy here again after the latest dip, for reasons that should be obvious when you look at its latest 1-year chart below. As we can see it is well placed to break out the top of a large fine Bowl pattern and it should be assisted in this by the rising trend in metals prices.


So we stay long and new purchases are in order.

Kainantu Resources website

Kainantu Resources Ltd, KRL.V, closed at C$0.22 on 4th March 2022.

Originally posted on CliveMaund.com at 6.20 am EST on 7th March 2022.

Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

[NLINSERT]

Disclosure:

1) Statements and opinions expressed are the opinions of Clive Maund and not of Streetwise Reports or its officers. Clive Maund is wholly responsible for the validity of the statements. Streetwise Reports was not involved in the content preparation. Clive Maund was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Additional Clive Maund disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Kainantu Resources. Click here for important disclosures about sponsor fees. An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of Kainantu Resources. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Kainantu Resources, a company mentioned in this article.

Charts provided by the author.

CliveMaund.com Disclosures:
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.




Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe