Today's Picks
My list is relatively short today because I am being very cautious in this market until a turn around is confirmed. I need to see confirmation on the charts that yesterday was not a bounce in a new downtrend. I am hoping for that to occur over coming days, after which I?ll feel more comfortable to add to my positions again.
VLA/VLAO: The BRW article from Monday was a good read and explains, in layman?s terms, the progress made by the company on their anti cancer virus treatment. Last year the treatment was injected into mice with cancerous tumours. The result was the elimination of the cancers. VLA then moved onto Phase I results to establish the safety of the treatment using two different doses (note: Generally phase I tests safety, phase II establishes efficacy and phase III sets dosage). No patients experienced any adverse product related side effects. Significantly five of the nine patients experienced tumour reduction or stabilisation following multiple single tumour injections. It is important to know that the dosage in Phase II will be up to 100 times that used in the Phase I trial which should enable the company to further study the efficacy and safety of the treatment in patients with late stage melanoma or other advanced solid cancers. I still have some concerns about funding for the phase II trials and plan to raise this directly with the company. I?ll post more when I have had these discussions. News Due: Progress of Application for IND status with the US FDA. Application Further details of program for phase II trials.
ARM: The recovery in ARM?s price gathered strength as the day wore on yesterday. The last hour saw some solid and relatively large buying helping the stock regain the all important $1.00 level. Confirmation of the reversal will be important today to re-establish confidence that the shares have further to run in the short term. News Due: Details of upcoming drilling program for the company?s Capricorn Manganese project. Outline of future plans for the Camel Hills Magnetite project.
GGP/GGPO/VIL: The price of both VIL and GGP held ground again yesterday however I did sense more sellers in the market holding both stocks from rising further. I suspect there might be a few nerves about the testing, which should have been underway since the 28th of January. There should be an update at any time because if the lowest zone turns out to be commercial then testing will stop pending commencement of production. Given previous announcements during drilling I still favour that testing will be a success. News Due: Results from testing of the Fausse Point well.
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