It does not look like we would reach their target this week....
Got that right!
Most targets are into the future, maybe a year or so?
I don't believe they will move strongly towards it until a major catalyst, such as the refurbishment of Steenskampskrall is completed and/or the JV partner and processing plant deal is announced.
Also possible would be some congressional action in the strategic metals bills trhowing $ at GWM, but that ought to be a long way out - if it isn't derailed by the attempts at showing decades-long-overdue fiscal responsibility.
My thinking about what I see on the charts makes me think we may have seen a "capitulation" that ends the recent near-term down trend end. A visual inspection of the one-minute chart yesterday indicates a strong bullish response to the breaking of two prior support levels. Visually it looks like around 80% or more of yesterdays volume came as price recovered back to $0.61, the higher of the to supports that were breached.
That's bullish I think. If it can get back over the 200 day SMA (likely not today with Greek concerns and "Flat Friday" likely?) I think it'll continue to move back near the prior range at lease.
All really guesswork with so many moving parts.
MHO,
Bill
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