pivot point, page-22

Thanks KK,

i sold 80% of stock on the run and ive started to buy again @ 8.6 as a start. ps i held 1 million in the run and boy was it great!

My view for the immediate term is consolidation of this range in the 8's - this should persisit for a little to bring moving averages back into the 8's

How will the price pull back with so much volume sitting there to buy and most investors reluctant to sell? in my view it will be a placement to most likely EDC or WWF. Could be someone else but those 2 are the prime parties to stick their hand up at this point.
The way in which the buyers (brokers) have stalled and pulled the stock back to this mark suggests to me they want a placement and they want it as cheap as possible and at least 15% lower than the fib retracement at 8.1-8.2 or the average price set over the next couple weeks.

This will not only put a floor on the stock, it will show strong support in HRL. if we did a placement at 7-7.5c it will also show the market that this stock is the real deal considering the last few placement done at 2.5 as well as 5's and the 6s - for us to attract more funds above that price even after the past dilution will be the clincher to say this has turned around and not going back in the medium term.

I come to this conclusion based on us being fully funded for the chile/peru programs. With the carbon tax coming to the table soon - i suspect brokers will be looking for first mover advantage on clean stocks. we will need to be ready cashwise for any move made in relation to Kororoit. Better to raise the money while the demand is present. The
directors no doubt will look at this.

30 mil shares at 7c will bag us 2 million - wont need shareholder approval and will get a cornerstone investor in for about a 12% stake without them needing to partake in the shitfight currently going on to get a position.

patience now.