Closed at C$1.3 well above the resistance of C$1.2 with some 3.5 mill shares traded. From a pure TA perspective not much resistance up to the C$2 level. Given the interest right now from e.g. analysts and media and also considering the additional positive fundamentals, more news in the pipe relevant to this company it now seems it will not take long until we reach that level.
Once there it's time to again look at what's the next target.
March 26, 2010: Southern Pacific hed a conference call to discuss the increase in its reserves and recent corporate developments on Friday, March 26, 2010. A presentation by Byron Lutes, President & CEO of Southern Pacific was followed by a question and answer period. If you were unable to participate, a taped broadcast will be available until April 2, 2010. To access the replay, dial 416-695-5800 or 1-800-408-3053. The pass code is 6106870.
Southern Pacific Cites 149% Increase in McKay Reserves
http://www.rigzone.com/NEWS/article.asp?a_id=90095
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