prospects for january , page-3

Definitely plenty of possibilities Robert. The sudden drop to just above 5c shocked the hell out of me; left for Bali when it was near 30c and got back to find it absolutely smashed :D

At the 5c level I figured the company was priced for extinction. I didn't buy more because I have enough (and my dosh had gone on holiday) but I knew that if the company did survive, anyone buying at those levels would have to be in the money in the long term. The rebound to 12 and 13 cents may be a result of people realising that the company isn't dead yet, and further price rises in the short term will depend on whether people believe that the company will survive.

In my opinion the buying now is people taking a punt on/banking on the survival of the company. The people who really wanted out sold in the crash down, others (where I sit) have waited to see what happens and people now are buying up knowing they'll make a killing if it survives. In the short term there'll be people who gradually sell out knowing they're getting double or triple what they could at the bottom and people who buy as the likelihood of survival increases. If we get to the end of March and the company can prove that costs are down to $4/lb and nickel is at least more than that we'll be looking at some multiple of the current share price - it all depends on the PON but I reckon at least 50c is a minimum with survival and no further capital raising. Alternatively the PON tanks soon and they have to rely on the generosity of Jinchuan again; either they fork up a bit more dough and we all hope for a nickel recovery or they pull the pin and it all falls to to the ground.

Personally I think we've seen the bottom (or close to) of the PON. Since $3.97 the price is up 6% or so but stocks are up nearly 18%. I might be wrong, and usually I am, but if the stocks keep going like this and the price can at least hold, when the stocks peak and begin to decline the price will start to rise and we'll all be feeling a bit better. Hopefully that peak is soon.

Hope everyone had a nice Chrissy, and go the Aussies.