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Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
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Thursday, June 26, 2008
Mountain Capital Options Potash Claims in Alberta
Comtex
VANCOUVER, BRITISH COLUMBIA, Jun 26, 2008 (Marketwire via COMTEX) ----Mountain Capital Inc. ("MCI") (TSX VENTURE:MCI) is pleased to announce the signing of a letter of intent with Utah Uranium Corp. ("UUC") (OTCBB:UTUC) to option the Ernestina Lake Potash property located in the Province of Alberta, Canada. UUC acquired potash permit applications covering a total of 192,000 contiguous hectares (474,400 acres) in eastern Alberta, on the Saskatchewan border. To date, a total of 19 permits have been received by UUC, covering a total of 143,800 hectares (355,300 acres). UUC anticipates receipt of the outstanding applications shortly.
Terms of the Letter of Intent are as follows:
- $50,000 Cash (on signing - non refundable)
- $125,000 Cash and 500,000 shares on TSX Venture Exchange Approval
- $500,000 work commitment within 12 months including preparation of a NI 43-101 report
- $75,000 Cash and equivalent value to $30,000 in shares prior to December 25th, 2008
- $125,000 Cash and equivalent value to $30,000 in shares prior to April 25th, 2009
- $125,000 Cash and equivalent value to $30,000 in shares prior to August 25th, 2009
- Milestone 1
- $1,000,000 (in addition to above) work commitment within 24 months of granting of Exploration Permits
- Milestone 2
After Milestone 1, MCI will be deemed to have earned a 50% interest subject to a 3.0% NSR of which 80% of the NSR can be purchased for $2,500,000. Completion of Milestone 2 will increase MCI's interest to 60% subject to NSR. The parties have agreed that they will enter into a Formal Option Agreement incorporating all of the above mentioned terms and conditions and which shall also include standard provisions that are normally included in such transactions. This transaction is subject to the approval of the TSX Venture Exchange.
According to an overview of work conducted by Royal American Petroleums Ltd. in 1966 filed with the Alberta Geological Survey in Mineral Assessment Report (19660009): "The geological strata and basinal effects in the Vermilion area are closely related to the potash-rich areas of Esterhazy, Saskatoon and Unity."
ON BEHALF OF THE BOARD
Bedo H. Kalpakian, President
SOURCE: Mountain Capital Inc.
Mountain Capital Inc. Bedo H. Kalpakian (604) 278-4400 ext 203 (604) 278-4430 (FAX) Email: info@mountaincapital.ca Website: www.mountaincapital.ca
Copyright (C) 2008 Marketwire. All rights reserved.
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