Could AUA see more share price weakness? Of course it could. We all know the inherent risks in stocks in general and in stocks like mining exploration - early development phase companies in particular.
I much greater weakness likely? I for one do not think so unless there is some very unexpected negative news. (Hows that for a qualifier!!!)
All permitting for Ruby Creek is NOT in place but the company has continued to advance the project gaining the various government approvals as they go. That speaks very well of the management and the strength of the project itself.
Moly prices remain strong with worldwide demand likely to remain solid or increase.
Financing is a speed bump not a road block. Money has gotten tighter but I believe the project fundamentals speak for themselves and the money will come in due course. The stock took a hit to 70 or 71 cents when the company announced January it would s"slow down its on-site construction activities for the development of its Ruby Creek Molybdenum Project." but is hovering in the 74 - 76 cent area as I write this.
I have held AUA in the past and sold at a profit last year. I have today bought back in at 75 cents as I think it has likely found its bottom (+ or - 3 cents) and in the next few weeks we will see some improvement in share price to the area of 90 cents (and much more if the required financing is put in place.) For the resource in the ground this stock has been overly beat up and may be a target for larger mining companies with deeper pockets.
Successful Investing ! ! !
Keith
