Quick chart the technically handicapped....just follow the arrows:
05/10 - Start of uptrend $ 6.80 - expect some resistance. Buy dips if they occur here $ 7.15 - current uptrend target. Look for consolidation here $ 9.80 - next stop if $ 7.15 is taken out on strong vols.
Predictions: 1. Additional resource updates and coal quality, for 946 are coming. If it was my company; I would not announce the whole 946 in one go. 2. Sp going back to $10 - $12. 3. Talbot taken out by major 4. RIV taken out at $15 - $17
As always, DYOR. Look at: * developing logistics - additional second rail line + barging * Huge increases to 946 to come (look at the map in the latest announcement, and tenement maps on slide 10, of 5th May Morgan Stanley Presentation) * Very, very good quality hard coking coal (met coal is worth double thermal coal).
As always, good luck long term holders.
Just as an aside; IMO management have never been too concerned at achieving sp growth via retail investors. The resource size and quality is not that of a junior explorer / miner. It's big, brothers.
Cheers, Skip
RIV Price at posting:
$6.07 Sentiment: LT Buy Disclosure: Held