AVO - Avoca Resources

[Sean K]

Apparently several brokers or fund managers are listing AVO as one of their top picks for 2007. Thats interest that is good enough for me.

Which ones Nicks? I sold out a little while ago and would be interested in some more broker analysis. Cheers.

 

[Nicks]

Kennas check out WA newspapers Sat (remember I dont make stuff up on this forum).

Apparently (I say apparently as this is info I got third hand) 12 WA brokers picked their top stocks for 2007 and AVO was mentioned by 4 of them.

The others were:
Avoca Resources (4 picks), WA News (4), Fleetwood (3), Woodside (3), Wesfarmers (2), Peet (2), Fox Resources (2), PCH group (2)

Looks pretty strong for AVO.

Pattersons, Merryl Lynch and Hartleys all rate AVO a buy or strong buy.

It will hit 1.50 today easy imo, maybe higher, probably $2 soon. It has the support, the media talking, the gold price up. All this = share price up.

Kennas, I think this is a good stock fundamentally (have for some time) hence didnt sell out with fluctations, these are normal. I dont see Gold going down any time soon for a long long time. Once AVO starts pumping out the ground it is only up for the SP and some nice dividends or other projects - in fact apparently they have another big project in the pipeline right now. Not too late Kennas.

 

[Nicks]

'Intersuisse recommending a buy to clientelle.'

 

[Sean K]

'Intersuisse recommending a buy to clientelle.'

Thanks Nicks, seems everyone is recommending it!

I've found that Merrily Lunching have it as a Buy, High Risk, too.

(not holding)

 

[greggy]

Which ones Nicks? I sold out a little while ago and would be interested in some more broker analysis. Cheers.

Hi kennas,
I think from my reading of the newspaper that Pattersons were tipping this one. I as yet do not own any. There are only so many stocks one can follow.
DYOR

 

[Nicks]

I think the pullback today represents an excellent buying opportunity for both short gains when it hits 1.50 again and also for longer term holders like me whom expect logn term price over $2 and dividends once they start producing this year.
So Greggy and Kennas now is as good a time as any, better buying today then yesterday or tomorrow while the SP has retreated a bit, check it out some more.

 

[kgee]

Just noticed fat prophets has a sell recommendation on AVO...while they are comfortable with long term they see now as a good time to take short term profits

 

[Nicks]

Fat Prohpets is probably one of the worst worst recommenders. Im very glad I haven't bought stock they have recommended in the past. They often lose and usually have an excuse as to why. I'd rather play poker with my money then buy on Fat Prophets recommendations. 2nd worst are Intelligent Investor. They both play it up big time when they get one right, but down play, hush hush or have a million reasons why a stock they picked went down.

So, IMO I would not heed what Fat Prophets say about this stock or any others for that matter. I guess their pockets are getting Fat from the market hype and thats about it. Id trust the Brokers, Banks and Fund Managers.

 

[skegsi]

Just out of interest is there any sites that have info on what the brokers, banks and fund managers are buying?

 

[Nicks]

Just noticed fat prophets has a sell recommendation on AVO...while they are comfortable with long term they see now as a good time to take short term profits

AVO up to 1.45 now. If Fat Prophets were a stock they would have gone into Administration by now. Guess the guys at Fat got into the game while the market was hot and found a nice little business with a fancy quirky name, as its probably the only thing they are making their money on. Sorry to all those who listened to yet more bad Fat Prophet advice and sold this stock short, which has gone up strongly in the last few days since.

 

[LifeisShort]

Fat Prophets is listed on the ASX......and its not in administration

 

[scsl]

Fat Prophets is listed on the ASX......and its not in administration

Just for clarification, this is not the actual company 'Fat Prophets' but a listed investment company (which goes by the ASX code: FAT), which Fat Prophets created.

 

[windwalker]

Still holding, how about you Nicks?

 

[speves]

AVO SP has got great potential for growth and ResourceStocks mag voted it as the No2 Explorer of the year ahead of Image Resources in December. I have been looking for an oppourtunity to get in but the chart is currently indicating a decending SP at the moment. 29/30 Jan saw the RSI drop below index. Most likely will drop back to the 1.20 support level before a recovery, and that would be my buy point.

 

[Nicks]

Still holding, how about you Nicks?

Been holding since I started this thread, when I bought in at 0.21c.

I have bought several large parcels since, with an average buy of 0.70c.

SRK is another thread I started when I bought in at 0.35c. This one however I unfortunately sold out at 1.00.

I wont make the same mistake with AVO. All the signs, and experts, are tipping gold to hit US$1000 an ounce. Coincidently this seems to be perfectly timed with when AVO will start pulling their gold out of the ground, by which time we should see excellent capital gains to reflect the dividends it will pay.

If you are unsure, work out:
(estimated reserves - cost of production) x current gold price = Highly undervalued. To be really sure, work it out at a gold price of US$500 ounce, still highly undervalued. Most of AVOs feasability studies were done in US$400 an ounce!

Add to this their speculative interests in Uranium with not only their large stake in ENR (Encounter Resources) + their large stakes in ENRs projects with AVO holding a large share of JV projects.

You get a solid mining stock with proven production plus the added benefit of the chance of hitting it big with Uranium as a bonus, without risking your investment.

 

[Nicks]

Anyone want to give some technical analysis? looks like it has started to enter the recovery phase.

Certainly the fundamentals are looking good to support this.

 

[Freeballinginawetsuit]

Anyone want to give some technical analysis? looks like it has started to enter the recovery phase.

Certainly the fundamentals are looking good to support this.

Would have to agree with you Nicks and have been accumalting AVO in recent weeks.
A new higher support seems to have been found this time around and AVO is in a general uptrend.
Fundamentally they have a lot going for them in 07, a ridiculous amount considering their market cap. Nice resource base and commodities spread in a tight market place

 

[CanOz]

Would have to agree with you Nicks and have been accumalting AVO in recent weeks.
A new higher support seems to have been found this time around and AVO is in a general uptrend.
Fundamentally they have a lot going for them in 07, a ridiculous amount considering their market cap. Nice resource base and commodities spread in a tight market place

Still really consolidating, but is bouncing off the 13 ema nicely now on the daily chart.

If the POG stays bullish then a challenge to the October high looks very possible...not enough in it technically for me, but an EW technician may be able to get something out of it.

Cheers,

 

[Nicks]

CBA are coming heavily on board.

 

[Freeballinginawetsuit]

This ones solid Nicks, I'm on board for the haul........bring on Trident, the U potential.....and heaven forbid some high grade hematite in a core sample, now that would be nice