Charts, page-4

Hi Jamx,

Great work on the TA charts & analysis -would have taken considerable time.

I broadly agree with the conclusions you have arrived at regarding resistance and support levels -in that they align with approximate conclusions one might draw from a FA perspective.

The FA news we await (Big Harry Hammermill) is company-making, and a clearly positive announcement is likely to bounce our Enterprise Value 80 to 140% (my best guess), depending on the exact nature of the announcement.

I agree that we could (it’s possible) that we drift down to 6c, but that would probably take a few weeks, and would leave me very disappointed in a company playing games with news (this usually occurs to benefit associated entities IMHO).

I hope this is not the case and at the moment I think the new management should have the benefit of the doubt (this doubt should last until at least Wednesday).

Many people will discount FA, but I think it is an excellent tool showing what may happen given future developments. There is no greater tool to assess the psychology of investors and what we may do.

My only other comment is that we often find ourselves being reluctant to buy following a price increase ...but what we really should focus on is where it is likely to go from this point in time.

If we get to the 18c level from Harry, we may hover in that region as some of us may take some off the table ...but we also have a large supply of unrelated news that may also be getting close, that push us towards that sky you mention.

Cheers,

SJB