Scammer, I tend to agree in terms of any further near term substantial gains for the Rare Earths they have had a fantastic run and a pullback especially in the more speculative names is likely, longer term there are strong fundamentals to suggest continued interest.
interesting transcript from an interview by CTP's Managing Director John Heugh just released, below is a quote suggesting the company is confident that their recent oil discovery will flow to surface.
"John Heugh: Well so far we?ve drilled through about 92 metres of continuous oil shows which is, we think a very, very encouraging result. The porosity and therefore the ultimate permeability and flow rate of the upper section hasn?t been brilliant, but the last 10 metres that we?ve drilled through has shown good to very good porosity and in the opinion of the well site geologists up there, they think there?s a very good chance that this 10 metre section, will actually flow to surface. So that?s a very, very encouraging result. Mind you, we can?t predict that with any accuracy until the well has been logged, cased and flow tested to see whether we do have a commercial discovery on our hands. But certainly it appears at this stage that the very good oil shows we?ve got at the Johnstone Prospect may represent the most significant oil shows in the Amadeus Basin since the discovery of the Mereenie Field in 1963."
