Perhaps the significant difference is that now there is certainty. (Anvil financially sound and now profit making) Uncertainty is anathema to markets.
The surging price of copper, declining stockpiles, indications that the recession is bottoming and there is light on the horizon is also changing market psychology.
The herd is turning.
Will be charging in the opposite direction soon. Providing there are no major shocks to the financial systems.
Anvil is now financially sound and profit making. With very significant potential upside mainly due to the likely completion of SXEW plant within two years.
Last night on TSX ----
Anvil surged 23%.
Closed AU$ equivalent at $1.60
Reached a high of AU$ equivalent of $1.70
Approximately 10 million shares traded. Much of this may be profit taking - 30 million shares allocated at $1.15 (Canadian dollars) meaning equivalent of one third now sold in one day. No doubt much selling is profit taking by those who received allocation of shares. But buyers are surging in! These buyers are not private investors!
Timing is as always in doubt but a positive future awaits. Expect large share price gains over the next 18 months.
Obtaining loan to complete SXEW construction will be the icing of the cake. If successful! And any such announcement should see a more than significant surge in share price.
Management have ensured Anvil has the best possible case for obtaining the required funds!
AVM Price at posting:
$1.24 Sentiment: ST Buy Disclosure: Held
