Todays PicksBCC/BCCO: With only two days to go until the Spud of...

Todays Picks
BCC/BCCO: With only two days to go until the Spud of the first Lee County well I expect the price to move up further towards 20 cents. Although the stock looks to be over extended on the chart I think the high probability of success will attract more speculative money into the stock. The time to lighten will probably be during drilling. News Due: Confirmation that the Pompano well has increased production to its target range of 8-10 mmcf/day. Spud of Lee County Well due on 26th of November (Australian Time).

ADN: Well I took advantage of the weakness on Friday and bought at 28 cents several times. The stock then recovered rising to close at 30 cents. I suspect we will see much higher prices this week. With a breakout from a pennant on Friday I have a target of 35 cents in the next day or so. News Due: Assay results due in early to mid December from the diamond drill hole at Rover 1 next to Westgold resources discovery. Indications are the grades will be very good.

EXM: With the gold price continuing to strengthen on Friday I am hoping the 2 cent level will be regained today. With more positive drilling results due at any time I still believe a price of 2.5 cents will be achieved in the near term. For those not in the stock yet it it might be worth waiting until the stochastic, RSI and MACD all turn up giving buy signals before entering. News Due: Further assay results from their gold exploration property in Tennant Creek within the next few weeks but after speaking to the company they could come at any time.

BCN/BCNOA: The stock is well on its way to filling the gap left some time ago between 2.8 and 3 cents. I think there will be a decent trade in BCN today from the open. I’ll watch closely and might take a position. New Due: Announcement of the 10,000m November drilling campaign due to commence tomorrow. Results should start to come in about a month.

RED: Excellent performance on Friday with the only problem being a gap that has been left between 14 and 15 cents. I think RED has started a sustainable run with 20 cents being the next stop. News Due: Progress on financing for the Siana gold project in the Philippines and drilling results on the Mapawa project.

MHM/MHMO: I suspect the indicators will give a buy signal some time this week. The driver is likely to be news regarding the the Aluminium Salt Slag and/or the Silica projects. News Due: Completion of the acquisition of the Aluminium Salt Slag plant in Geelong. Update on the Silica project in Tasmania.

Good luck trading today everyone.