nice hold for the weekend.., page-22

re: manipulation.who.why........burnett I think Sinbin mentioned that SR was in the UK at the moment and maybe this is a contributing reason for the price having the tilt at 38 yesterday. I can't imagine that he's just over there for Christmas. Might be a case of being on the ground over in London and doing a little bit of a road show?

I do find it interesting that people are identifying 51 cents as being a key level. I assume that this is just 100 percent increase on the key level of 26.5 cents? I don't think that any taregt levels can be confidently set when so many factors are unknown being the offtake hedging price, NPV for perkoa and the final dilution of the company associated with the equity and C/N issues.

I agree that there are a lot of shares on issue however a key thing to note is that a lot of the shares are held tightly at the moment by Nth Sound and Brewer so there is decreasing liquidity in the market when compared to when the price was sitting in the teens. I noticed that the market depth for the sellers on Friday was starting to look a little on the thin side of things. Any sort of movement from this point in should result in a fairly agressive movement on the basis of limited liquidity. For me I am looking for a sustained break above 0.375 and a close above this level. That should signal the next movement on the upside.

All in all it looks good but I agree with Domum that the price really cannot stay at it's current level without some sort of fundamental justification and news flow. Good news on Perkoa should push the price well over 50 cents in my opinion.