ARD's Silver still way out of the money so silver would have to go up by 40%, 50% to have effect on ARD's price.
ARD's gold is still incredibly speculative - based on only 1 set of drill results. There will need to be a resource mapped out before it will be sensitive to gold price.
The precious metal bull market is still young, so senior and junior gold mining companies already in production or about to enter production are still reasonably priced, there's no reason for money to flow into explorers yet.
It's late in the bull when valuations of all gold companies in production or about to enter production are ridiculously high, when the money will finally flow into speculative stocks looking for gold with no resource mapped out.
So right now, ARD's valuation is most sensitive to cash at bank on the downside, and drilling results on the upside.
For now, it's going to take skill and hard work on management's part to push ARD to the next level.
ARD Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
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