Today's Picks
With the sharp rise in gold overnight it should be a good day for gold stocks. I'll be keeping an eye on GOA, BCN and CVY in particular. Good luck today.
GGP/GGPO/VIL: The testing update failed to live up to the market's expectations and both stocks were sold down. VIL was hardest hit probably because it had risen the most over recent days. Technically the charts on both stocks look bearish so further falls are likely in the short term. However given that both stocks gapped down sharply yesterday if the news from Fausse Point gets better both stocks should bounce. News Due: Final results from testing the lowest interval of the Fausse Point well.
MHM/MHMO: MHM continued rising yesterday but just failed to achieve a new all time closing high. The stock has run pretty hard from the mid-high 20's some I would not be surprised to see some consolidation today however I still expect the all time high to be tested in the next week as a decision on the silicon plant nears. News Due: An update on the Silica project (Wacker AG) is due by the 17th of February. Plans for exploration on gold and base metal projects located in Tasmania.
ARM: The move towards the $1.20's is now underway with a new all time closing high of $1.13 set yesterday. The company continues to conduct roadshows to existing and prospective investors which is generating further demand for the stock. The chart now looks bullish with the stochastic and RSI rising nicely and the MACD looking set to cross today. News Due: Details of upcoming exploration program for the company's Capricorn Manganese project.
SSN: SSN was probably effected by the fallout from the VIL / GGP announcement. This would have caused a few to sell out fearing a similar outcome for SSN. I am planning to read more on this company next week and will decide at that point whether I will start following it more closely. Currently I don't hold. News Due: Results from drilling of the Gene #1-22H well.
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