i'm personally holding for a target of about 50c. Gradually...

i'm personally holding for a target of about 50c. Gradually stepping out from about 25c. These sorts of runs are based solely on speculation, anyone that says there are fundamentals about are kidding themselves. However, thats not always a bad thing. Speccy runs are usually much faster and further than any fundamental run. Whilst I agree that IO prices are high, and will continue to run, how long can it last? IO mines are so capital intensive that no one could expect mining by FDL until at least 2011. Will prices be as high then? The other option obviously is a takeover, but from FMG? They couldn't afford to for at least 2 years when they may have sufficient cash flow. Rio and BHP are already struggling with bottlenecks in Australia's infrastructure, why would they bother looking at FDL? Until these are cleared they needn't bother. In summary I don't believe that FDL should hold significant fundamental value for at least 2 years (and this is based on the obvious assumption that they actually find a decent grade of ore).
Thus, I will be holding for about 6 months or until my target is reached (50c). I'm very confident that the stock will run fast up to this point as everyone wants some cheap IO exposure and FDL is the best speccy I've seen yet. Once it reaches 50c I'll sell nearly all, but probably hold onto a token few, just incase I'm wrong and it runs up to $263 per share.
Load up on these in the short term, they've only just begun their run.