As you can see above, SPEYF has been on a hot streak over the past few weeks.
From a low on August 10th of $.1830, SPEYF more than doubled when it hit a high of $.3887 on August 24th.
Since that high, SPEYF has not dropped below $.28 which means strong potential support could be building at that level.
On top of that, SPEYF is trading above several key lines of potential support (according to Barchart at close on Tuesday):
- 5-Day Exponential Moving Average (EMA)
- 13-Day EMA
- 20-Day Simple Moving Average (SMA)
- 50-Day SMA
With so much potential support building below SPEYF's closing valuation on Tuesday, could we see a continued push up the charts to its recent highs?
Just FYI, less than 2 months ago on July 7th, this profile was trading over $.40.
No. 3 Potential Breakout SPEYF Catalyst - Moving Close Towards Potential Off-take Agreements
Spey Resources Begins Discussions With Several Battery Manufacturers & Automotive Companies For Potential Off-take Agreements
VANCOUVER, British Columbia, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") is pleased to announce that Phillip Thomas, Spey Advisor to the board and exploration project manager, has begun discussions with several battery manufacturers and automotive companies for potential off-take agreements.
“Since our lithium brine samples have arrived at the University of Melbourne, we expect that we will have produced a sample of lithium carbonate within the next 2 weeks. The lithium carbonate samples and analysis will allow the various companies we are in discussions with to consolidate their interest in a potential off-take agreement,” stated Nader Vatanchi, CEO and director of Spey. Phillip who is based in Melbourne Australia has had significant experience in negotiations with off-takers for lithium carbonate and related products in Japan, Korea and China.
A large number of lithium battery producers and electric vehicle manufacturers are signing off-take agreements to ensure they or their manufacturers have continuous supply over the next decade. Ganfeng Lithium Co Ltd, Xinyu, China who borders Spey’s project to the North on the Incahuasi Salar has signed agreements with prospective producers such as Tesla, Volkswagen, BMW and other car manufacturers. LG Energy Solution (“LGES”) the largest producer of lithium-ion batteries for electric vehicles in the world, has also signed off-take agreements and supplies its products to top global OEMs.
Read the full article here.
No. 4 Potential Breakout SPEYF Catalyst - Signing Of Option Agreement To Acquire Interest In Key Claims
Spey Resources Signs Option Agreement to Acquire a 1-0-0% Interest in the Pocitos I and II Claims from AIS Resources in Salta, Argentina
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2021) - Spey Resources Corp. (CSE: SPEY) (OTC Pink: SPEYF) (FSE: 2JS) ("Spey" or the "Company") is very pleased to announce that it has entered into an Option Agreement (the "Agreement") dated June 23, 2021 with A.I.S. Resources Ltd. ("AIS") for an Option (the "Option") to acquire a 1-0-0% interest in the Pocitos I and Pocitos II claims (the "Property") located in Salta, Argentina.
AIS Resources did not pursue the property due to the high magnesium content of the brines, however, the Ekosolve™ lithium extraction process will help alleviate the magnesium situation...
CEO and director Nader Vatanchi states, "Working with AIS and their team in Argentina has been very productive and we are fortunate that they have access to these projects to expand our lithium portfolio. Spey is still focused on moving our Incahuasi exploration program forward and aim to be drill this summer now that we have the results from our TEM geophysics. Our new properties announced today, Pocitos I and II, are advanced stage and we look forward to drilling and completing a NI 43-101 report so that we can begin planning for potential production."
Read the full article here.
SPEYF Recap - 4 Potential Game-Changing Catalysts
No. 1 - Commencing Of Drilling, Results Announcement Soon
No. 2 - Red Hot Chart, Trading From Potential Support
No. 3 - Moving Close Towards Potential Off-take Agreements
No. 4 - Signing Of Option Agreement To Acquire 100% Interest In Key Claims
Coverage is officially initiated on SPEYF. When you have some time, do this: