Last time it shot to $4.5 mainly due to the funding issue resolved. With its Moly business making money again and should be better next quarter, if not much better(Kennecott stops supplying moly for at least the next year and Thompson creek supplys 50% of their moly to N.A, you do the math?) and only 3 months away from MM operation and still on Budget, shouldn't this be easily over $4.5 realistically.
Only uncertain things could be:market correction? gold price drop further(with the solid demands for physical gold, this is very unlikely) or something else, use your imagin?
I would say PPS above $5 by the end of this month is a rational assumption.
I would expect an upgrade out from Deutsche Bank pretty soon too, or they are going to look very foolish shortly...certainly after their Global Industries and Basic Materials conference in Chicago on 6/12-13.
And TC also has the Mining Americas Summit in Denver on 6/10 and the RBC Global Mining and Materials conference on 6/18-19.
Should be a couple more upgrades, and lots of support, especially if they release ANY positive guidence at all for Mt Milligan. (Even if they had more news to flesh out MtMgn today, I would expect them to wait 6 weeks for these conferences, one to be sure and two, to keep a positive buzz and momentum until the Q-2 call at the beginning of August or so.)
I'm sure they would like to say that commissioning is underway and they have fired up the mill on that call. Then, this stock should really jump.