Rise,
Had a chance to talk with a friend that happens to be a geologist, he thinks that the core for this discovery hole has all the finger prints of the real thing (whatever that is), in his opinion, the juniors are jumping at this staking madness based on the geology that this hole has revealed, so I am inclined to think that FM knows exactly what they are getting into this time. Trading on Thursday, will also be interested, after the rest of the houses in TO have a chance to see the core. Support over 2.0 is strong, I was expecting that it would start showing signs of weaknesses by now, the way I see, there is more upside than downside at this time:
1. With 5 million $$, a extended program that would take to summer can be sustained.
2. It will easily break 3.0 on rumor once drilling resumes, probably 5.0 on another good hole....so you can sell for about 30% profit just on rumor and not risk for the news or...if you are brave...wait for the news for a potential double....or back to 1.5 probably.
3. Until the program is finished....there will be many opportunities to day trade or do a 3 day run and drop.
This is what makes this play so interesting....
I will get in for the fun!!!
TC |
