LOL! Well as it was me who first proposed the $18 figure, I...

LOL! Well as it was me who first proposed the $18 figure, I should unpack it a bit.

I have buys FROM $18 down to $16. IF (and I underline that) it keeps to it's channel, the lower end will be less than $18 - but $18 is a safe purchase even if it keeps downtrending as chances are it will then go to $20+ again. Bottom of channel is actually more like $16.

$30 at the moment is a pipe dream, IMO, unless POG spikes post g20 summit. And of course, anything is possible. Will depend short term on how G20 pans out, as I keep harping on about.

Never forget that NCM is also a copper play and as such sensitive not just to POG but also to other commodity movements.