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Rare Earth miner Avalon Ventures (AVL) still holding at 65% gains

Posted July 23, 2008

Our rare metals mining outfit Avalon Venturesl (AVL:TSE) remains near 52-week highs.

by J. Christoph Amberger

Baltimore — (TFN): Our Indium speculation Avalon Ventures (TSE:AVL) continues to hover between 65-70% gains over our initial recommendation from March 27. (See “Indium IPO: Buy or pass on this rare-metal IPO?”) The stock closed at C$1.90 today, five cents below the C$1.95 high it posted in intraday trading yesterday.

This Canada-based junior mineral exploration and development company focuses on rare metals and minerals, many of which are used in cutting-edge and green technologies. Since late March, we have watched its hare price claw back from C$1.15 and lower.

Recent price increases have happened without news. In the waning days of June, Avalon released some ncouraging assay results from the Phase 2 drill program at their Thor Lake Rare Metals project, located 70 miles southeast of Yellowknife, NWT. This location shows a high proportion of the much more valuable ‘heavy rare earth elements’ (Europium through Lutetium plus Yttrium).

There’s still plenty of speculative upside left in this stock—despite fears of sagging demand in the United States, the commodities bubble is still going strong. At this point, we’d just like to shore up our current gains by establishing a stop loss somewhere in the area of C$1.73, which in the case of a steep drop in the share price would get us out with 50% gains intact.

****Hold on to your AVL shares until further notice!

 

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Posted by J. Christoph Amberger · Filed Under News that Matters 

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