bullish breakout my next target is $2.89...

LYC has had a very bullish breakout today, making a new high and closing at a new high on strong volume, driven by further outstanding news.
I'm picking we could see my next target of $2.89 within the next few weeks, as LYC is the only game in REE town now, and could easly over shoot my targeted share prices (see below) by a considerable margin. Just like PDN did, but unlike PDN, LYC will be very profitable from the start of production.

quiktrade's post from this morning sums up why LYC is simple the best REE choice in the market imo:

"- quotas down
- export taxes up
- and really importantly Molycorp truth starts to come out - they are nowhere near ready

Now looks like all roads lead to Lynas."

Some posters today have shown just how keen they are to get on board by posting red hearings trying to shake a few loose hands.

My base valuations posted a few weeks ago:
11,000t p.a. US$4.07 sp

20,000t p.a. US$7.41 sp

30,000t p.a. US$11.12 sp

This company is a sitting duck, don't be surprised to see M&A activity.