Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has not—so far—responded to the rally in gold of recent days, but the pattern looks most favorable with it having consolidated a sharp high volume rally at the start of last month, that allowed its 50-day moving average to catch up and rise through its 200-day.
The company has reported a run of good drilling results that augment the value of its Copperstone Mine in Arizona, and just came out with more very positive results, that are thought likely to get the stock moving.
As we can see on its latest 6-month chart, although it has not so far responded to gold's advance, it appears to be completing a bull Flag, so there is considered to be a good chance that the positive drilling results will get it moving again. It is at a good entry point here and rated an immediate buy. Another reason that it is at a good entry point is that this is stock that can be expected to take off like a rocket once gold breaks above $1400, a development that is expected to occur quite soon.
Kerr Mines website.
Kerr Mines Inc, KER.TSX, KERMF on OTC, closed at C$0.155, $0.12 on 4th June 2019.
Originally posted at 7.50 am EDT on 5th June 2019 on CliveMaund.com.
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