midnorthI like your positive thinking however I think it is a...

midnorth

I like your positive thinking however I think it is a bit ambitious to say 20c is the first stop - how did you come up with that number?

It seems the sp is trading between 9-10c for quite some time (barring the drop due to mongolian govt news) but apart from that i think people are simply holding or accumulating at this stage.

From the last big run we saw the sp open above 10c and get hammered down as so many holders were taking fairly easy profits. looking at the current market depth that is likely to happen again imo. obv i dont want that to happen but in my view (assuming news is positive and all other variables remain constant) i would expect price to open above 10c (around 11c) and then there will be quite a struggle between buyers and sellers.

Ideally if we see price close above 10c then hopefully it will remain above that milestone and trade between 10-13c for the next few months. no doubt there will be more news flow in the coming months, although having regard to my previous post, it is likely the mongolian winter climate will hinder drilling. For the next target I would say 12-14c is likely. I dont think it will go higher than that but of course I hope I am wrong. If it does go to 20c it will likely come straight back down IMO.

Overall, I think there will be a lot of profit taking off this run and then we may see sp and hype dampen slightly simply due to the winter season. it wont be easy for the company to keep drilling at such an aggressive pace, and interest will likely lessen. Having said that I like this story and if exploration continues to progress, it would be nice if RIO or Ivanhoe showed interest in a couple years etc.

Thanks