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Gold/Mining/Energy : Aurora Platinum Corp, ARP
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To: Bruce Robbins who wrote (108)1/20/2001 8:53:15 PM
From: Brumell  Read Replies (1) of 157
 
I know your thoughts on Midrim, Bruce. Like you I'm normally a buyer on weakness but with ARP, situation might be different.

I'm not a t/a type. However, drawing a line along lows on their chart, shows a current floor at $5 level or slightly above....fwiw.

However, there may be a problem with waiting too long for a buy on weakness. Consider a few thoughts:
1. The float appears very small and tightly held. I get the feeling trading may be "guided."
2. Additional drills have or are being moved onto Midrim and Foy properties.
3. While some rumors are already out, ARP is moving into a position where very strong rumors of fresh drill results could come at any time... and this stock appears driven by rumors.

Normally, I'd avoid a stock like ARP at this point in it's cycle. It's already up 600 percent in past few months. However, there some few points in it's favor.
A. It's not a one hole, one property situation. They are active over several properties, with several rigs on each property.
B. With such a tight float, good rumors could take this stock ballistic. Naturally a tight float can work both ways. Some safety is provided by having several properties and all interest not concentrated on only one drill target.

It's an interesting speculation. On a risk/reward basis, the reward could still be very good vs. an acceptable risk.
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