Ann: Ramelius delivers 10 Year Mine Plan at Mt Magnet, page-34

Nice chart Forged.

Using Eliott Wave, I am tracking this as the beginnings of a larger scale Wave 3. I see Wave 1 as being from 2018 through to mid-2020 as marked (a total move of +$2.21 from the $0.32 low to the $2.53 high), then Wave 2 to the October 2022 low (a total move of -$1.95 to the $0.58 low = 77% correction which is very close to a classic 76.4% Fib correction), and now are16 months (72 weeks) into Wave 3.

As to where I see we are on this Wave 3 - we have just completed minor Wave1 (from $0.58 to $1.72 top = +$1.14) as the first of the 5 wave sequence in major Wave 3 with the $1.72 top last October. It looks like minor Wave 2 correction may have terminated at the recent $1.34 low (-$0.38 or 33% correction) and we may now be in minor Wave 3 of the larger degree Wave 3. I need to see this current up-move breach $1.72 to confirm that we are indeed in minor Wave 3 - otherwise, we may be seeing a more complex A-B-C corrective minor Wave 2 (with this being the "B" wave of that correction). I am in 2 minds at the moment whether we are still in minor 2 or have commenced minor 3, as I was looking for minor Wave 2 to terminate at the 38% (-$0.43 to $1.29) or 50% (-$0.57 to $1.15) retracement levels before we began minor Wave 3. I suspect the next week will inform us either which way.

Overall, I am looking for the larger degree Wave 3 to reach the classic Fib extension of 1.62 x Wave 1 = 1.62 x $2.21 = +$3.58. This gives a target from the $0.58 October low of $4.16 as the ultimate Wave 3 top.