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Sunday, December 23, 2007

In the news.

Lundin Mining LUN.to LMC is buying back nearly 20 million shares, so recent reversal in trend after capitulation is for real. My last call June 2008 strike 10 was filled at 1.5USD. With more bullish forecast on metals prices Lundins must work hard in order not be bought out at recent  low valuation.

Sterling Mining SRLM.ob SMQ.v has started production from Sunshine mine as it promised. Stock was up 20% on Friday. 
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2 comments:

  1. Anonymous6:40 PM

    what is in the world could be happeing at LMC, with the rise of the metals and this stock down?
    where do you see the bottom for this stock? and what type of reasonable upside target is there in you estimation?
    thanks

    ReplyDelete
  2. Sufiy11:26 AM

    Stock is forming double bottom on Daily chart now. At 8-8.25 there is another major resistance. I have bought calls June 2008 strike 10.

    Upside: once Congo resolved oficially, they will publish resource estimate including latest drilling, chinese are building railroads now and ports. Company will be bought out above CAD20.0 in my opinion.

    Best luck,

    Sufiy.

    ReplyDelete