Armadale Capital Share Price Forecast September 2021 – Time to Buy ACP Stock?
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Investment-based companies often guide the share market with its price movements and long-term implications which is why retail investors and others always keep watchful on such company shares. The ever-changing market scenario makes it difficult to predict when an industrial mining and investment company such as Armadale Capital Plc. would provide the market off-the-charts results. The shares of this investment holding company have reached new highs after a long time. Let’s dive in to figure out whether it is time to buy ACP or not.
Armadale Capital – Technical Analysis
As mentioned earlier, Armadale Capital is an investment holding company active within the industrial machinery industry. Its businesses primarily surround the natural resources projects in Africa. Armadale Capital has been in the news for the past 11 months for its 100% owned Mahenge Liandu Graphite Project in Tanzania.
The Esher-based company was known as Watermark Global Plc before 2013. The financial overview of Armadale Capital reveals that this 2005-incorporated company has a total market capitalisation of £24.4 million. The total debt of the company is close to £576.6K according to the balance sheet.
Additional analysis brings us to the technical indicators that indicate the formation of a strong buy price action around the ACP shares listed on the London Stock Exchange. Many capable oscillators and moving averages that traders and investors depend on each day are pointing towards a Buy action. SMA (4.57), EMA (4.69), MACD (0.11), and RSI (72.89) are in the favour of buying ACP shares at the time of writing. ACP shares exchanged hands at an individual price of £5.45 on 3rd September with a 19.7% uptrend.
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Recent Developments
Armadale Capital’s most ambitious Graphite project in the Mehenge Liandu area in Tanzania has started moving forward after being paused due to various complications last year. The news of Armadale Capital being granted a legal license from the Tanzanian Ministry of Energy and Minerals to proceed with the Mehenge Liandu project aided its shares to make a textbook recovery formation in the market.
The aforementioned license would provide Armadale Capital exclusive mining and development rights in the Mehenge Liandu graphite project that is 100% owned by the company and spread across an 8.54 sq.km area. This is a relieving moment for all investors who have been wary of their position within Armadale Capital. Many are now prepared to see how this £310 million worth of graphite project and its success influences ACP shares in the days to come.
Reasons to Buy ACP Shares?
According to the chairperson of the company Nick Johansen, the newly acquired official 10-year license to continue working on 100% Armadale Capital-owned graphite project in Mehenge Liandu is the company’s most anticipated de-risking milestone. It has accelerated the project towards construction for the first phase as planned. It is no surprise that initialising this phase would benefit the company and its shareholders significantly.
It has also been revealed that the company is currently in talks with various potential finance partners. Johansen says that Armadale Capital would be announcing further progress in the near term including the details of new finance partners.
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