Prognosis.
posted on
Nov 15, 2007 04:47PM
Look at my Imagine post today with the in-ground value per share. I had guessed as part of a Poll at Stockhouse board a couple of months ago that the resource per the 43-101 will be 220 million ounces but now think that it is likely to be closer to 300 million.
So with the report released in 200 to 300 range I think that in a perfect world the price should spike just after the report to the $15-18 range and weeks later settle between $10-15.
However this is not a perfect world.
So being pessimistic, from past experience, I expect the price to spike between $6-8 and settle there after near $5. This is with no help from the price of silver.
Who knows what the silver price will do in the mean time?
Again with silver, the price trend should be upward with a bit of yoyo'ing along the way due to the tie in to the gold price being manipulated.
Please comment where and how you may differ from this view. I state to be corrected and preferably convinced. Edgy.