Morning all,As per posts late last week, LCY began to gather...

Morning all,

As per posts late last week, LCY began to gather momentum off the back of recent positive announcements that were heavily sold into at the time. LCY is a similar company to HEM - similiar iron ore assay grades and Pilbra location near BHP, Rio and FerrAus, however secured a JV partner to fast track the next stages already (therefore arguably further along) and yet to have a run to bring it inline with a market cap similar to HEM.

The chart is showing an emerging upward trend pattern has begun and it has been identified as a breakout canditate (see Buffets post for independent verification).

Volume and price were seen to increase last week as follows;

Wed: Vol - 210,690 - Up 0% - close 0.088
Thur: Vol - 3,342,212 - Up 10.22% - close 0.097
Fri: Vol - 4,144,440 - Up 8.25% - close 0.105

New due: HOA has been signed by LCY to complete due dilligence on Lyons River tenement which they are looking to purchase. It has been identified as having similar grades as there current leading tenement.

My price target range is between 17 and 20 cents. Will be interesting to see if this pattern continues this week.