I thought that CCU was due for correction at around late 60c and started sounding caution at the time that silver looked like facing a crucial technical correction. I am no chart guru and R2R alluded about my head and shoulders pattern.
I did buy some at 51c and kept since but the stock now has taken a different flavour- people are investing and not trading and to me that is very very healthy. I am a firm believer and gold and silver like many of you and I think silver will head for US$50/oz and CCU run will continue unabated. So I was wrong before to call it due for correction although I never said it was overvalued...and I certainly won't calling it overvalued now with the debt financing secured, production a stone throw away and silver look great with each passing day.
When this stock was recommended by ASCI, it was 12c and made a run to 30c+ , it was traded...it is now above $1 and ASCI should have kept it in their portfolio.
You can safely keep this stock...its a hedge against rising petrol and food prices and at the same time be proud of owning a few bricks in Australia's premier and largest pure silver stock. An ASX300 stock in the making.
CCU Price at posting:
$1.04 Sentiment: LT Buy Disclosure: Held
