looks good punters, page-18

Mrblu,

On the technical side, good call and I can't disagree. I think a close over 7c plus a bit of consolidation around those levels would be the key for a short term turnaround. This is a hard one as this stock has false breakouts all the time so I wouldn't trust it. For the next big leg, I'd say 9.5 is the key. Could then get to 10 and we hit the land of half cent ticks so we could quickly get to low teens.

Where I disagree is your fundamental side. You say there is no good news, I believe that the resource update is still around the corner. I don't believe today's announcement included that but happy to be corrected.

You say a cap raising is around the corner, I disagree. Yes I am taking faith in management, but it would be very poor form to say no cap raising until the end of '13 late '12 and then spring one in the first quarter. Furthermore, I have spoken to management (as have many others) and they have reiterated this. Yes management of ASX listed coys have lied before, but this would be extremely poor. Call me naive. This has also been well documented on these threads so not sure why you're saying it is around the corner. I am going to say an asset sale is around the corner to raise cash, but I'd be guessing as much as you are.

As for the whining about TKG, who said it is whining? Just because I am saying that they're selling and they have a large part to play in surpressing the price, does that make it whining? It is well known that TKG are up the creek and need money - what do you think it their most liquid asset? Why wouldn't they sell today? There was some nice volume to dump into. I don't know how you can blanket call it and say that they didn't do any selling today. I know for a fact that someone offered to take their line in the teens yet they came back and said they wanted a premium. I don't think they're too bright. They need the cash and are a seller. Simple as that. TKG and MNC do not get along.

Yes I agree that the finger should also be pointed at management and hence why I think this company will unfortunately never be one of the greats. Plenty of good copper stocks and I think this one is just too far away for the average punter. Good management would never let it get to this level of shareholder wealth destruction nor be pushed around by some penny dreadful stock.