technical update, page-4

Nice post Ecn

BUT your comment re fundamentals not having changed since it hit 38c is,if I may take the liberty,a touch off the mark imho.Arnt I being nice about this!

Lets give your technical shmechnicals even more latitude and say the bull run(technically) for Aim ran to the 21/12/2006 when it came off a 33c high and finished at a 30.5c low.

OK fundamentally what has happened since.

I do believe

*North Sound have taken MORE position in Aim going from around 60M shares to 101M shares

*Frank Brewer also took up some of the placement at 29c on the 29/12/2006

*The exploitation license has been received,effectively giving Aim ownership of Perkoa

*Progress is being made on the offtake with the latest Qtrly giving delphic reasons for the delay.Ive no reason to doubt company annmnts,although others might.

*They have progressed earthworks significantly at Perkoa with the portal due to be opened in around a month.

*MF has weeded out the non-performing board/staff members with significant progress in the last few days re the restructuring of this aspect of the company.

*There has been no sell down of significant holders,certainly no notices have been received.

*Zinc appears to be doing a nice job of recovering as of late.And cancelled warrants continue to be bumped up above 10,000t ensuring continued drawdown from the LME stockpile

*One of the largest miners in Xstrata may well be pulling one of the largest mine start-ups expected in the next 2 years due to a high court decision in favour of the local indigenous tribes.This WILL have a substantial effect on expected zinc concentrate supplies if any appeal decision is not upheld.

*The company still has 21M in the kitty which shows a reasonably lean cash burn even with the earth works progressing well at Perkoa.

*The political situation in Cot D'Iviore does appear to be settling down with the "Ouagadougou" agreement between the two main factions as per this article.

http://www.securitycouncilreport.org/site/c.glKWLeMTIsG/b.2630641/k.3046/Update_Report_No_1BRCte_dIvoireBR2_April_2007.htm

This will have a direct influence on Aim being able to sort the problem of logistics imo.

Perhaps our idea of fundamentals doesnt quite line up Ecn.As I say the chart looks very average but my decisions are based on well into the future.I agree with your chart based assessment of where the sp is going and what it may indicate for the company in the future but imo support at mid-high teens will be as low as it goes.

d.