ARDOs are quite possibly the best punt on the ASX at the moment and there are many factors at play here. Firstly, silver has just about cracked $42 after only cracking $40 on the last trading day. $40 was a major technical and psychological resistance so I don't see any slowing down for a while after this strong breakout. $45 possible this week IMO.
With junior plays management do everything they can to keep options well into the money at least 6 months from their strike date. I suspect significant newsflow has been forestalled in order to achieve this. On top of all this the strike price of options has been reduced by 2.2c to 17.8c. That means that if the SP hits 28c then the options are worth approx. 10c, 38c and the options are worth approx. 20c!
IMO the rewards far outweigh the risks here and with a rush to precious metals such as silver and gold just heating up this undervalued play has a long way to go.
ARD Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
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