KATX- Where Do We Go From Here?

I won't get into a long drawn out post about KATX.  I still hold my $.10 target even after yesterday's decline and today's pop.  But it may take a little longer than I first expected.

The chart could be following the same pattern after the first run-up in price, meaning this stock will need to consolidate the next week or two before making another explosive move higher.  The range should be $.06-$08.  Anything outside of that will make this stock either a buy or a sell, depending on the direction it goes.  For now it is a hold, although if you are banking on another move higher than accumulating shares at this price could pay handsomely in a few weeks.

  Kat Exploration Reports Additional Copper Find on Its "Lucky" Property
MOUNT PEARL, NL, Jan 27, 2010 (MARKETWIRE via COMTEX) -- Kat Exploration Inc. (PINKSHEETS: KATX) has been busy uncovering new copper showings on its 100% wholly owned "Lucky" Property with very impressive malachite and chalcocite discovered in its latest trenching. The trenching took place within the same horizon where recently discovered copper returned results of up to 2.5% CU strata bound within the more sandy beds of the sediments.
As digging was most difficult in the shattered rock zone, the trench was only excavated to approximately 2 meters with copper throughout the entire trench and continues at depth as the mineralized horizon containing the copper is up to 300 meters in places throughout the property.
Each new copper discovery on the "Lucky" property lends itself to significantly boosting its potential to a higher likelihood of acquiring a JV partner.
In recent months, the area where the "Lucky" property is located has drawn the interest of a major world class mining company and Kat will continue to bring both the North and South "Lucky" properties to their full potential.
This Press Release contains some photos of the trenching and latest discovery of the new copper.
The type of environment where the "Lucky" property is located has the potential to produce low grade, large tonnage copper deposits similar to those found in the Zambia copper belt.
About Kat Exploration Inc.
Kat Exploration's principal objective is to locate, stake, prove up and sell mineral properties to major mining companies. It is the Company's objective to take advantage of increased activity to generate numerous joint venture clients, and sales of our existing and yet to be acquired properties.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Kat Exploration Inc. to be materially different from the statements made herein.
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Contact:
Ken Stead
President
Office: 709-368-9223
709-368-9224
Website: www.katexploration.com
Email:  kstead@katexploration.com