looking ripe punters, page-5

From that last rally to 12.5c I have fib's of 7.1 and 8.2 as obvious short term targets.

But looking back in time there were key spikes at 4, 12, and 19c (est). The chart perfectly respected the 4c historic spike (april 2009)... now that is behind us.

It had a go at the previous 12c spike from June 2008 recently ... then retraced to support at the 4c support - pretty much text book stuff.

Back on 21/10 Teck Resources (C$15 billion Cap)

http://en.wikipedia.org/wiki/Teck_Resources

signed up for a JV ... which changes everything.

The sp went from 4c to 12c at that point respecting the previous historic resistance at 12c.

Looking back through history ... a 50% retrace from the all time high is 19-20c. That's not a ramp - it's a fact.

Therefore it's pretty simple really - Teck find what they're looking for and 19/20c is the innitial target as the sp will blow through 12c on good results ... that's probably uncontestible also.

Therefore - the logic goes like this ... do Teck spend $5m to spend $15m because they have a reasonable idea what's under the ground could be worth a punt?

A C$15b mining giant - would they know what they're doing?

If Teck smells an opportunity at 5c (their entry price premium at the time - take a look back through the pr) ... i suspect it's still one today.

Then there's the phosphate ... which is what got me interested before I researched the Teck connection.

What a lovely lovely chart!

My first target is 8.2c which probably won't take long IMO.

Regards