trending up

Finally the market seems to be awakening to the potential of WPG. Their Peculiar Knob DSO Iron Ore project has the potential to underwrite a share price which multiples of current levels. A final commitment to develop the project is due in the second half of 2010, presumably after the completion of the BFS which is scheduled for September. I'll be posting a more in depth analysis in the next few weeks. News Due: Commencement of drilling program at the company's Penrhyn Coal Project. Final commitment to develop the company's flagship Peculiar Knob DSO Iron Ore Project in H2 2010 including the results from the BFS. Update on the Hawks Nest Magnetite Project including access to the Woomera Prohibited Area. Price Target: The prices have tested the top boundary of an up-trending channel twice in the past few weeks. The last time was on Friday and prices remained outside the upper channel at the close. Weak market conditions could see prices entering the channel again this week but I expect it will just be a matter of time before there is a successful breakout. In terms of targets 80 cents is likely which would fill a gap between 76 and 79 cents.