Technicals on this one look superb with very high volumes. Just broke to a new high of 7.8. MKY is a restructured shell that has purchased Queensland Uranium with claims located in North Queensland. A lot of speculation here about some very high assays from the Frome and Palmer River region (see ASX release). MKY has attracted two very senior executives from BHP and Newmont (from memory).
The market speculation IMHO is that Queensland Uranium has located some very hot U prospects and that these prospects have attracted some very senior management to join the board of what is still a penny dreadful. MKY shares are being very aggressively bought now for many weeks and IMHO may be heading into the 10-20 cent range.