Merafe really took a HUGE dunk! And more to come to 93 cents

MErafe dropped 18% yesterday.

Big unexpected move due to an array of events~

First we had Trump pulling funds from SA.
Second with the major expropriation bill that is leading to Foreign direct investments to leave SA.

Merafe Resources has announced that it may start suspending some of its ferrochrome furnaces in May 2025, leading to a substantial decrease in ferrochrome production in South Africa.

This decision follows a business review launched by Merafe, in collaboration with Glencore Operations South Africa through their chrome Pooling and Sharing Venture, as they evaluate possible strategies to tackle ongoing market challenges.

Either way, this is a BIG black swan for Merafe and it seems like there is more downside to come with the technicals.

M Formation
Price<20 and <200MA
Target R0.93

RISKY BUSINESS!