charting thread-free chart, page-48

hi bulion

if you mean fundamentally, i would say that nothing is required to keep it above 3.7c, you're talking about an EV of around $15m for a 50% stake in a project in hungary with a $10billion partner that is going online next year.

add to that a new JV designed to release over $12m in government grants and initiate some activity in Perth Basin, and i see an argument for an EV of at least $30m, or a shareprice in the 6c area.

i believe that technicals will dictate all immediate price targets, and would expect that once 3c is cleared and put to bed, any movements upwards will accelerate rapidly, and the only resistance levels between here and your 9c will be at 5.5c and 6.5c.

here is a kind of schematic chart, showing where the technical resistance levels would be and what I believe could be the catalysts to meeting them.

somewhere inbetween, i would expect at least one or two cap raisings - hopefully not till at least 5.5c