For the long term folk, this is a very good piece of news....

For the long term folk, this is a very good piece of news. Bringing on people of this calibre at this stage in our development is a massive vote of confidence moving forwards.

For the short term trading folk, yesterday there was a few capitulation sales, but I got the sense that whoever was hovering around the 24.5c mark for a rebound bailed yesterday. With a bit of luck the timing of this announcement, although not price sensitive apparently, might stave off the ominously bearish trend we were developing after the double top. If not, expect the 61.8 fib (21.5c) to come into play over the next few weeks...

Happy friday all....