are we in a downtrend?, page-3

It's the investors from the last cap raising who got their shares at 15c cashing up.

I think we'll see a bottom at or around 15c. If it breaks that, then a downtrend is a possibility. Looking at current depth, I'd be surprised if it did, though. I got it wrong last Friday, and topped up too high at a8c, thinking (wrongly, I now know) that the investors of the cap raising, just this once, might have bought for the company instead of the quick cash in hand.

III is a thinly traded stock and needs news to move. We have some coming in November (plant and production schedule updates, potential offtake agreement, in specie distribution of Fitzroy shares and potentially Peel news), so this is in my view a reasonable price to top up if you want.

I have no problems seeing the share price at or around 50c this time next year - then we'll be a producing mine, with hopefully, offtake agreements going forward and cash in the bank for stage 2 of Mt Carbine.

Sorry, not a chartist, but that is what I think is going on. I think the ride will be a little choppy until at least Christmas or Q1 2011.

Also keep in mind that III has run very hard in the last two months, about 2 months ago shares were about 7-8c.