It may be just my imagination, or wishful thinking, but the buy...

It may be just my imagination, or wishful thinking, but the buy side looks a little stronger today. Volumes still low at the time of writing, but someone paid up to 23c, maybe some progress at last in those tedious negotiations ? Those "in the know" always move before the market (as both buyers & sellers). So watching with keen interest.

Weekly chart shows a rounded bottom, possibility of a cup & saucer pattern, with the handle forming atm ? This suggests an initial target of high 30's, nudging 40c. I would be interested in other people's comments on the pattern formation.

Re price targets, remember back in August 2011 Gunson released a report from Edison Research group valuing Coburn at $86m and GUN at 52c, which DH said was "very conservative" based on the company's stated NPV for Coburn of $300m. Of course zircon prices have risen since then. So in theory there should be a very healthy sp appreciation, far beyond the initial cup & saucer target - but "there's many a slip twixt the cup and the lip".