Friday, September 14, 2012 12:32:22 PM
SIERRA RESOURCE GROUP (NASDAQ:SIRG) Uptrend Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume.
Uptrend with money management stops.
Based on a pre-defined weighted trend formula for chart analysis, SIRG scored +80 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Close Up
+15 New 3 Day High on Thursday
-20 No Data for 20 Day Moving Average
+25 New 3 Week High, August 23rd
+30 New 3 Month High on June 6
+80 Total Score
SIRG's Chloride Copper Mine in NW Arizona - production to start in early 2013.
The recent Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below
the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were
abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could
prove additional resources. Based on the forgoing, it is safe to assume that the current known resources would
provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
http://www.sierragroupinc.com/wp-content/uploads/2012/05/L10-Chloride-Copper-Resource-Report.pdf
Uptrend with money management stops.
Based on a pre-defined weighted trend formula for chart analysis, SIRG scored +80 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Close Up
+15 New 3 Day High on Thursday
-20 No Data for 20 Day Moving Average
+25 New 3 Week High, August 23rd
+30 New 3 Month High on June 6
+80 Total Score
SIRG's Chloride Copper Mine in NW Arizona - production to start in early 2013.
The recent Rizzo Report increased the reserves and they are higher than previously estimated. The existing ore below
the current bench levels from 3695 to 3420 values known between 3420 and 3310 could add another 13 Mlbs. Many holes were
abandoned with higher than cut-off grade Cu values in and around the existing pit. Their continuation at depth could
prove additional resources. Based on the forgoing, it is safe to assume that the current known resources would
provide a minimum of 50 Mlbs of ore; at 5Mlbs/annum, that would support a 10 year mine life.
http://www.sierragroupinc.com/wp-content/uploads/2012/05/L10-Chloride-Copper-Resource-Report.pdf
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