I've been watching ARD for quite a few months wondering when it was going start rumbling out of it's slumber. Looks like it's on. Articles in AFR, buy recommendation in the Weekend Australian and the local paper giving the project a positive rap. Looks like there's a real push on to move it at the moment.
As a baseline it's a great leverage play to silver. It's been effectively priced as an option IMHO. Given the current rights issue you can even get an option on the option ;) A worthwhile play on that basis alone but it's the exploration upside that's got me excited with high priority targets likely to be shallow VMS feeder zones.
I'd expect to hear some drilling dates soon. If they come out at the right moment the FA and the TA will line up very nicely for a run...
I made this chart last night predicting a bounce very soon. Looks like today's the day. May not hit those target points overnight but if cracks 10.5c on the next move then a change of long term trend is confirmed...
ARD Price at posting:
8.9¢ Sentiment: Buy Disclosure: Held
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