A few people are seeing good value in ARDO. with June 2011 expiry @20c there is virtually no premium to ARD. and of course there is tremendous leverage. ARD has 2 main projects, Bullant and Kempfield. Both of which can add signifificantly to sp as they progress. The risk/issue right now is funding. ARD need another $8m that was not raised in recent PI issue. and so we are guessing how or at what price this extra funding will be issued. But the little bit of activity over the last week would suggest that something positive is happening.
The GM at the end of Sept should see some announcements re Bullant. and we have been promised a decision to mine at kempfield in March 2011. I'm betting that by end of year we will have significant progress on funding, bringing Bullant into production and progressing Kempfield. ARDO looking a very cheap way to hold this company.
ARD Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
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