AVO - Avoca Resources

[Nicks]

Hi All

When I started this thread back in Feb 06 I was impressed with this little miner and its fundamentals and performance since I had bought in at 2004 so I wanted to post about it and share it with everyone. I am still a happy holder as the fundamentals just keep getting stronger.

Not that I am the first to post about AAM but I thought I would make everyone, who isnt already aware, of a stock which I feel the same about now as I did for AVO in 2004. AAM - The fundamentals bear striking similarities to AVO when I first got in at 2004. The market cap and share price is almost the same as AVO was then. So check out A1 Minerals (ASX code AAM) and see for yourself. Potential to follow as a similar successful miner to AVO. In fact the conditions are better now for AAM than they were for AVO.

 

[powerkoala]

wow, this looks so strong today.
up 5% and trying to break 1.80 again.
with gold 710. will this be able to break the resistance?
good luck all holders.

 

[powerkoala]

news out.
look at those grades.
wow.
this is really good news as gold now at 734.40.
here we go.
good luck all holders.

 

[Go Nuke]

Well i jumped on to AVO today after it broke through 1.80

I like the way the POG is going, so decided to increase my expose to it.

I am a little concerned though because AVO has had quite a good run lately, so it will probably turn soon.
The MACD doesn't impress me much at the moment either.

Guess we will wait and see.

 

[powerkoala]

Well i jumped on to AVO today after it broke through 1.80

I like the way the POG is going, so decided to increase my expose to it.

I am a little concerned though because AVO has had quite a good run lately, so it will probably turn soon.
The MACD doesn't impress me much at the moment either.

Guess we will wait and see.

problem with this SP are slow running and impatient holders.
that's why it can't just fly like other gold stocks.
but today's news really break the 1.80c resistance for so long.
SP tried couple times to break 1.80c but today it did it

 

[explod]

problem with this SP are slow running and impatient holders.
that's why it can't just fly like other gold stocks.
but today's news really break the 1.80c resistance for so long.
SP tried couple times to break 1.80c but today it did it

Now at $2.10 it is surely starting to show its value now

..............................................................................................

 

[Nicks]

This has got to be the best Gold Stock going around. Still very undervalued if you do a calculation. As its now a solid company there has to be plenty more upside to come.

 

[Nicks]

... forgot to mention have a look at their resource base now. It just keeps geeting bigger, and lets not forget when they did their initial feasability study it was somewhere aroun $400US an ounce for gold.

 

[Go Nuke]

... forgot to mention have a look at their resource base now. It just keeps geeting bigger, and lets not forget when they did their initial feasability study it was somewhere aroun $400US an ounce for gold.

Thanks for that info
I'm clearly stoked about jumping on board at the right time. It seems not everything goes wrong for me
Although my girlfriends dad (who works for the ATO and trades quite regularly) is spewing :swear: because I told him about it on Thursday but he was too slow to act on Friday so missed the boat

Looks like $2.40 might turn into resistance....but lets hope not.

Todays price action sent the clear candle out of the BB, so being a beginner I'll be keen to see what happens tomorrow.

My only other concern is the XAO. Back at that old triple top level from a couple of months ago. Lets hope for some good news out of the U.S this week to help get us up and over.

 

[Nicks]

Merrily Lynch has issued a BUY on AVO.

They have upgraded their forecasts for AVO for 2008 - 2010.

For full and concise details it has a good write up in today's Australian Financial Review.

 

[Go Nuke]

I see JP Morgan has become a substancial holder with 11+ Mil shares in AVO.

I was once told a basic tip....if u see bank and the likes of these guys investing, then its usually a good sign

 

[Go Nuke]

Is anyone getting a little edgy in reguards to AVO?

I see its still a buy reccommendation on Commsec, but I feel like the share price is just starting to roll over a little.

All too often I watched my profits turn into losses from not knowing when to get out.

With the volitility still well and truely in the market, i'm still bullish on gold..but thats probably whats keeping me in at the moment.

Anyone know of any further ann comming?
The ann about the 2 boys mine seemed to have little reflection on the sp.

 

[Go Nuke]

Does anyone have any info from a broking firms on their outlook for Avoca?

I'm getting really uneasy with the slight downturn in the share price with some of the faster moving averages crossing down through the slower ones.

Ive been burnt so many times holding for too long. Ive noticed that on the Commsec website they have 2 recommendations as a "Strong Buy", 3 as a "Moderate Buy" and 2 as a "Hold".

The other positive thing is it looks like J.P Morgan recently increased its holding in AVO from 5.20% to 6.21%.

Gold has come down a bit lately in price and I think thats what might be pushing the sp down a bit.

 

[austek]

Technically the chart shows AVO stuck within a bull flag, so I will be waiting for a b/o and some good news on gold to get in.

 

[mikepretty]

Isn't AVO due to upgrade it's resource this quarter? I am sure I read this somewhere. I would expect an upgrade to be positive for SP, especially if POG maintains current levels or increases.

 

[disarray]

well $2.20 and $2 are important support levels for this stock but its still trading comfortably around $2.30ish. the share price has risen strongly over the last year, including a substantial re-rating in august / september which took the price from $1.30 to a high of $2.60.

we had a share placement around $1.32 in april this year, gold production starting a few months ago and field acquisitions since then. this seems like a company that is well run and gets things done, and they are sitting on more undeveloped gold areas as well as uranium. fundamentally this is a solid company that is producing gold so i'm not concerned about the price fluctuating between $2.20 to $2.60, although if it drops through $2 then theres not much to hold it up and $1.40 would be a target (pre-rerating price).

its still trading around the 10 week MA although the current formation is looking pretty bearish to me. as you say the gold price has been softening and so would have an impact on the sp. either way i'm very long with this stock (its my gold bull exposure) and expect great things in the future.

 

[Go Nuke]

well $2.20 and $2 are important support levels for this stock but its still trading comfortably around $2.30ish. the share price has risen strongly over the last year, including a substantial re-rating in august / september which took the price from $1.30 to a high of $2.60.

we had a share placement around $1.32 in april this year, gold production starting a few months ago and field acquisitions since then. this seems like a company that is well run and gets things done, and they are sitting on more undeveloped gold areas as well as uranium. fundamentally this is a solid company that is producing gold so i'm not concerned about the price fluctuating between $2.20 to $2.60, although if it drops through $2 then theres not much to hold it up and $1.40 would be a target (pre-rerating price).

its still trading around the 10 week MA although the current formation is looking pretty bearish to me. as you say the gold price has been softening and so would have an impact on the sp. either way i'm very long with this stock (its my gold bull exposure) and expect great things in the future.

Thanks for that post Davros...I mean Disarray

I compared charts with AVO,LGL and RSG and they all look fairly similar, so I'm guessing its the gold price thats influencing the share price.
It finished off well today at $2.39 which i'm really pleased to see. I'm suprised it took all day to get up to those levels really considering the DOW was up nearly 200 points overnight.
I guess other than the averages crossing over its the volume thats troubling me too.
If the sp is up on low volume, can that suggest accumulation of the share?

After a little digging I came up with this recommendation from Myrill lynch from the 31st of October.

http://www.avocaresources.com.au/downloads/research/avo_research_merrilllynch_20071031.pdf

You were right Mikepretty, a resource update is due by the end of this year.
I'm just a bit edgy these days having watched so many of my shares go up, and not knowing when to sell out and am now sitting on losses

Thx guys.

 

[mikepretty]

Resource Increase

Avoca today announced It's resource increase. 23% increase (246 000 ounce) to Higginsville resource base.
They also announced a 500 metre extension to the Trident mineralisation which is part of the Higginsville project.
Also ore grade mineralisation south of Poseidon South.
Announcements look promising for further increases after more drilling in the new year.
SP got a little hammered this morning but now appears to be picking up again.

 

[Go Nuke]

Indeed.

If there is 1 thing I'm learning about the share market, its that the market always seems to have greater expectations from announcements!

After seeing it drop below support of $2.20 I bailed out for a small profit. I had a sell order in a few weeks back which I'm now wishing I hadn't pulled.

Might sit back and wait for some sort of breakout into new territory for AVO

 

[explod]

Indeed.

If there is 1 thing I'm learning about the share market, its that the market always seems to have greater expectations from announcements!

After seeing it drop below support of $2.20 I bailed out for a small profit. I had a sell order in a few weeks back which I'm now wishing I hadn't pulled.

Might sit back and wait for some sort of breakout into new territory for AVO

A look at tonights chart indicates a reverse hammer, a jump up tomorrow should make it a buy. Volume up today at that price is a fair indicator also. A rise overnight in the gold price, which I expect will do the trick. I got in recently at $2.43 and most happy to hold such a quality gold miner. Good buying 0pportunity for those who got in today.