Hi andrewe
"This will need some serious news to get through 21 cents............."
Well I agree.
Without giving mixed messages, I have talked before of $1 for this stock just like others have and I know we have to be patient, but the cold hard facts right now are that it is still trading in a range between 13 and 15 cents.
IMO to break 20 cents and stay above this it in the next say 6 months it needs at least one of the 2 diamond drill holes at Punchbowl and Azurite to show mineralisation at depth or a serious net buyer to "take on" the serious seller we "think" is there (if you are selling at 13.5 cents and someone has enough buying power to push it up and you actually like the stock but are trying to get it cheaper only then will you get caught out).
Other possibilities are the JORC coming out above the market's expectations. Well I don't know what the market is expecting. Is 6 - 8 mill tonnes going to be enough or does the market want 10 mill +.
My belief is that 6-8 may get a small rise, say 2 cents up to 16 cents, but 10 mill + may do the trick.
Does anyone have any feelings as to what it might come out at ?
Other possibilities are good news on Mt Kasi and the successful implementation of Stage 2 (but this is not until early 2008).
Really where I think this is at is a timing issue.
There are a number of companies where there has been a delayed response by the market to repeated good news. One that comes to mind is Havilah Resources that was doing good things for quite a while and the share price did not respond and then it went up from about 60 cents to over $2 in a matter of about 9 months.
To me this is the real answer to the current situation. If we are all right about how good rbm is and could be then unless they find the large underground orebody soon then based on the delayed reaction theory that maybe the serious move up will not transpire until next year and we just have to wait.
The good news, if it doesn't do much this year, is that those who really like the story have plenty of time to accumulate.
Flipper
RBM
redbank mines limited
