Here is a copy of my post to the Short Term Trader threads:
Hi Short Term Traders,
One company you may wish to research is Avanco Resources Limited (AVB).
I wonder whether copper and copper miners has yet appeared on your radars. Copper price and the COPX copper mining index hit annual highs overnight. AVB has underperformed with the monthly indicators suggest that a revival may be about to kick off.
Brief summary of AVB's projects:
(1) Recently hit commercial production levels at its first copper and gold mine and is profitable;
(2) Soon to start trucking ore from its second pit (50km down the road) where it will eventually build a second plant mainly out of cash flow;
(3) Has just taken on a gold project at a bargain that may be a 3m ounce project.
Here is the AVB monthly chart - note the stochastic and RSI strengthening after all this time, and the ADX line on the DMI downtrend seems to have bottomed - time for a reversal do you think?
Here is a chart of the copper price:
Here is a chart of the COPX copper miner index:
DYOR and have fun, disc: holding
