My prediction is that after the announcement the SP will move to around 1.10. Then a trend similar to the last few weeks will manifest whilst preparing to drill.
The chart will rise form a great big cup ie reach the previous highs of Jan 2008. Then a handle will form until the drill results are known sending the price up or down.
This is without news from the Tassie Shoal project which could affect the price in it's own way.
I think 1.60 is quite plausible by the end of the year, if not before. The way this run has gone will ensure more stability provided the rise is kept under control this time.
This is only my view and remember to keep your wits about you.
MEO Price at posting:
76.0¢ Sentiment: LT Buy Disclosure: Held
