I posted about Pediment Exploration a couple of times earlier this year (6/28, 7/25) as I saw some intriguing patterns developing on the chart. I thought that this was a good time to review what has happened since then. The stock is being recommended by a handful of newsletter writers, based primarily on the exploration success that they have had at their San Antonio project in Baja, Mexico.
There are several good sources of fundamental analysis of this company, so I will limit my comments. Suffice it to say that the chart below is a visual explanation of why I invest in the junior mining sector. It is a hit or miss game, but when a company hits big, the rewards can be staggering. I don't think Pediment is done yet. They are continuing to define the resource at San Antonio and are preparing to drill two more of their properties.