Ann: Lithium Surface Sampling Results, page-9

Cheers V_H...

Yes, to me MCR are as you say a call option over nickel and surely gold as well. They are low cap. now, have money in the bank, a top track record and even fewer shares on issue today than 10 years ago. We need commodity prices to rise, but rise surely eventually they must.

As for Elliott Waves, well I'm not sure if you're serious or having fun with me, but nonetheless here goes... The chart above has 5 main waves down as I've drawn them in. (my interpretation btw; not all might agree). Given the above is a monthly chart we are obviously looking at a decent time frame. 5 waves is the textbook run... three impulse i.e. main direction of trend, with two corrective i.e. against the main trend (waves 2 and 4). There are then wave sequences within wave sequences, within wave sequences etc...! (from months scaled down to minutes)

Broadly, generally speaking, (... there is always the possibility of exceptions and bastardizations!) a 5 wave pattern is likely to be followed by a three wave corrective sequence on a scale loosely fitting the 5 waves it is correcting. i.e. 10 years down in this case could be followed by 3 or 4 or 5 years up... (and so on down the scale too)
This is all very general stuff V_H .. Some people this appeals to; others think TA is crap : )

So when gazing at a "big picture" monthly chart and looking at what looks like a nice big 5 "completed" wave move, one might feel encouraged to think that a big picture trend change may be coming. (completed meaning you can count the waves in a fashion that appeals to the interpreter's view) ... One then awaits the indications of a trend change. Given the monthly time frame, there's not a lot of precision in this it must be said. : )
(when you look at the 5 main waves I have marked above, you can "see" minor 5 wave patterns in each leg of those 5 waves - hence the 5 waves within 5 waves etc...)

MCR to me V_H looks gorgeous in the big picture view. And it coincides with what may well be a reversal in the commodities scene - BIG PICTURE.../ This of course is no "coincidence"! We could be out by months and many cents, but "monthly charts are BIG PICTURE views after all.

Fibonacci retracement then may give various points of possible bounce (to) targets. Given MCR has come from a high of $5 and we are at a low of around 20c (having had a low of 12c), any Fib retracement has terrific numbers attached to it. A 23% retracement up from the recent low, targets about $1.30. A 38% retracement begets over $2.00. These are a far cry from current levels; but if commodities do bounce, such that a buck can once again be made from mining, these I suspect are very achievable targets indeed for MCR. Keep in mind MCR has had no share dilution so the price chart is a true indication of relative historic values.

This is how I see it old boy!

In a year or two, WE'LL KNOW! : )

Cheers,

Kip