Below is a table of the drill results released by RPT from their Split Rapids Project.

In our humble opinion they are an encouraging set of results especially the 0.222 percent of U3O8 from a core length of 6.35 metres. The other results are also very interesting although the core lengths are a little on the short side for us to get overly excited.

As you know we sold RPT recently having made a profit of 47.6% in four months as we thought that the stock had run too far ahead of itself. Well since we sold it, it has been up to $0.75 and has recently slipped back to trade at $0.64 yesterday. RPT’s 200 DMA is still under $0.40 so the stock is still trading a lot higher at the moment and that gives us cause for concern. The RSI, MACD and the Stockastics are all heading south which is another indication that the stock price is just too high and unsustainable at these levels.

However, investors are always hungry for good news and the above drilling figures may just be the catalyst to ignite a rally in the stock today. We will observe the action today, as it will be interesting to how the market responds. It is a little ‘micro’ on our part to dwell on one piece of news, but the devil is in the detail or so they tell me.

Have a good one.