Obviously, within the next few weeks, most of us are expecting a resource upgrade - and a large one at that.
Like a lot of RES posters, I have been here for quite a while.
With the past upgrades, a lot of the potential price increase has been built into the share price before the announcement came out so the effect of the announcement on the price was limited - that is not true this time around.
If the announcement is around the 3 billion tonnes as some have mentioned here, surely an immediate run to $1 - $2 would not be out of the question.
Looking at a resource of this size, the location of the resource and the management of the company, RES will be in a very enviable position.
Also, with seemingly improving world markets, the timing is perfect.
3 billion tonnes with only 160 million shares on issue - I am unsure of the maths but it certainly seems to stack up in the holders' favour.
Anyone have any thoughts?
RES Price at posting:
55.5¢ Sentiment: ST Buy Disclosure: Held
