Herron's end of week close of 18cents and its high of 19cents is technically constrcutive for the stock this week.
Now that the stock has commited to the upside it MUST NOT TRADE AND CLOSE BELOW 16.5cents.
If this level would hold then I consider the stock to have built a nice base from where it can trade higher in the 20cents, possible high 20s.
Nearing end of quarter and an announcement on how well the 30,000 tonne trial mining with one of the exisiting laterite plants is immenent otherwise some sort of statement could be made in the June-2002 quarterly due out by end of July 2002.
Could the other laterite plant (Cawse or Murrin-Murrin) afford to see Heron's Coongarie Ore fall in the other hands, with out pistols at 50cents per share or higher (this figure was derived by comparing BHP's purchase of the 50% Raventhrospe deposit it did not own)?
Patience is one of Arhidas virtues.
Arhidas
HRR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
