I thought that I would post this one for Mick Doohan. A US analyst is tipping LGDI to rise to the $2+ mark based on technicals. You can extrapolate for MAK what you will.
From http://www.bloggingstocks.com/2010/01/07/top-picks-for-2010-legend-international-lgdi/
(Oh and Legend is down 3c to $1.44 Mick).
"This post is part of a special report, Top Picks for 2010, the 27th annual survey in which TheStockAdvisors.com asks the nation's leading advisors for their single favorite stock for the new year. See all 80 stocks listed here.
Mark Leibovit uses a proprietary technical trading system known as volume reversal analyst; over time his buy and sell signals for the market have led to one of the top rankings among market timers -- including being ranked timer of the year in 2006 by Timer Digest.
He also uses this system to highlight trades among individual stocks -- such as his top pick for 2010: Legend International Holdings (LGDI). Here's the latest from his VRTrader.
"Legend International Holdings Inc. engages in the exploration and development of mineral properties.
It principally focuses on the development of its phosphate deposits located in the Mt. Isa district, along the margin of the Georgina Basin of Queensland, Australia.
"The company also owns interests in diamond and base metal projects located in Northern Territory. Its exploration licenses cover 40,525 acres in Queensland and 4.7 million acres in the Northern Territory, Australia.
"Legend International Holdings has a strategic alliance agreement with Wengfu Group Co. Ltd. The company was formerly known as Sundew International Inc. and changed its name to Legend International Holdings Inc. in March 2003. Legend International Holdings was founded in 2001 and is based in Melbourne, Australia.
"Our technical target for the shares is a move to $2.25 to $2.50."
AEV Price at posting:
40.3¢ Sentiment: Buy Disclosure: Held
