Tuesday, March 8, 2011
GWMGF
Great Western Minerals is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet, automotive, and aerospace industries. Produced at the Company's wholly-owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 92.6% ownership in Rare Earth Extraction Co. Limited, the owner of the Steenkampskraal mine. GWMG also holds interests in eight Rare Earth exploration and development properties in North America and Africa. (from their website).
GWMGF is in stage 2 on the weekly chart (good). Arrow on Aroon & absolute CCI<100 suggests consolidation on middle chart. Price needs to get CCI up over 100 in association with an equivolume power box (i.e. volume). Blue MA is pointing up, elder is green, price bars are above the cloud and MACD histogram is rising on the lower chart (good). Blue MA needs to cross up through red MA and Aroon & MACD Histogram need to go positive to confirm uptrend. Started nibbling at this one...
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