Not so sure that it's capping, just a few profit takers that...

Not so sure that it's capping, just a few profit takers that bought in at 30 taking there 60% profit. I agree with your assesment that it will run again but in these illogical trading times, round numbers are what set the price rather than any logic. 50 is a nice round and confident number....so is $1. It will take something special to push it that far, but given the ILU news this morning things are looking favourable for mineral sands at the moment!!

"MINERAL sands miner Iluka Resources has upgraded its net profit forecast for calendar 2008.
The Perth-headquartered company now expects its full-year earnings to be about $60 million, compared with its previous estimate -- as provided on October15 -- of around $50 million.
........ the company expected sales of rutile, synthetic rutile and zircon in 2009 would exceed its underlying 2008 production because users of these commodities had reduced inventories."