Ann: Antas Crushing Upgrade Underway, page-99

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philh9

11,768 Posts.

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18/11/16

12:07

Post #: 20716103
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Originally posted by Agent Cooper ↑

You are right to be cautious/cyncial given management's travk record. No doubt.
But copper has clearly bottomed. 8 years of Democrats in White House has seen infrastructure spending stagnate in the world's No 1 economy but we have Republicans back in power and their agendas wont be social ones alone (like all the energy spent on healthcare reforms), but will include capital spending and stimulus to the private sector as well.

I think this is good for copper.

AVB at 6c - even despite the glacial speed at which progress is attained was a good LT buy given it had traded at 6.6c during the Election Day shenanigans.

Still too many shares on issue, yes, and possibly Black Rock also looking to exit - who knows for sure, but I do think a base at 6c is a firm line in the sand now, and 10c a possibility in 2017. Phil has been correct in his prognostications on cu price this year and with major research housse - not to mention BHP & RIO Execs themselves - all jawboning positively re: copper can only be good news for a debt free producer.

Ive been critical of the stock long term but one has to also face other realities - that being the macro outlook for copper. And while many will be prepared to take punts on some copper basket-case ASX-listed stocks, it would seem to me that - after 4+ years of tedium - AVB has some investment merits to argue for.

As I mentioned, I have been long term bearish on them but I can't stay bearish forever just for the sake of it. I have to be honest with myself and I think that macro factors are clearly turning in their favour.

Coop

PS: sorry for spelling errors....I have fat fingers.

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Just back from smashing the little white ball around, spectacular morning. AC & Kalenn, two of the best posts all week!

Cheers
Phil.

AVB Price at posting: 7.1¢ Sentiment: Buy Disclosure: Held
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