Liked your timely post to Hannah, Lone Ranger! Now some tech talk ... UKH has held at current level of 0.73 - light volume - marking time. Note from Silver sites that Silver also held around the $6.00 level. ($6.07, to be exact). Should it break down through this level, next stop is around $5.50, then $5.00! On the other hand, UKH can make money around the $4.50 level, even lower than this - but my memory of past ravings escapes me! If silver decides to raise a leg up in the next while, it'll meet some resistance at the $6.35 -> $6.40 level. In fact, if it gets there from here and stops there then turns downwards, it may be the right shoulder being completed in a head and shoulders pattern (the left shoulder being the previous $6.40 level reached last year), which could be longer-term bearish. If it goes on through on the upside, on the other hand, and which I'm hoping is more likely if you read the other posts below on sentiments in India, etc., it'll be bullish as it approaches and tests the $7.30 (or thereabouts) previous high. Naturally, this will drag UKH share prices up along with it, independent of any other news.
Meanwhile, upbeat things will hopefully begin to happen this week and in subsequent weeks, as the UKH/NDU merger is voted on this Wednesday, and financing for production begins to be anticipated in the share prices, as well as a growing positive sentiment about mining shares in general. (see paragraph below)
The local news tonight covered the Annual Prospectors Conference in Toronto - attended by over 6,000 delegates from all over the world! Talk is: Bre-X has had less of an impact on the mining stocks and juniors than initially feared - and this is now being reflected in a turnaround in base metals and mining stocks. The sentiment is waxing bullish, and, if the trend is our friend (to coin a well-worn phrase amongst analysts), the rest of the year should begin to look damn good for a change!! Inco and Falco shares have begun to move up again, for example ...
'Nuff said for now - comments?
H.K.
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