revised 18 cents target timeframe please, page-13

GT, I dont think you can blame the markets in the last 2 wks, Im fairly sure the last 2 wks have been fairly good.

It could be a case of the price couldn't get over the resistance at 4ish cents, the buyers gave up for the time being and took profits allowing it to drift back down to the placement price.

Just an example someone emailed:

On 22 Oct 2006 - "Please be advised that Black Range Minerals Limited (the Company) has received applications for 20,604,070 shares at $0.048 per share, pursuant to the Share Purchase Plan announced on 1 September 2006, to raise $998,995.The Company will now proceed with allotment and despatch of holding statements. The Company has also completed the Placement of 65,000,000 shares at $0.048 per share to domestic and overseas sophisticated and institutional investors, to raise approximately $3.12 million."

The price was about 5.5c. Take a wild guess what price it was on and around the 22 of Oct - That’s right -round about 4.8c (it did get as low as 4.5 but that was it)...... The rest is history of course.

Raico, 18cents by the end of the week or in a week this will not happen. If the price does rise, like most shares that do rise you will probably see profit taking on the way. So if the price was to break out and rise to say 7 cents it could fall back again, before going up again. So what people went through this week, it will probably happen again at some stage. For example, a lot of stocks struggle breaking through 10-10.5 cents. People will mentally take profits at 10-10.5 cents. By the way Paschal, Im not saying that your prediction wont happen. I dont think you will be 2 far off the mark with CMO.

GT I dont think your actually serious when making these statements, but new investors can believe these statements and then we have what happened last week, panic or should I say thestormism.