Avanco Resources (AVB) is another company that I have been following the last couple of weeks. I posted about the stock approximately two weeks ago when the share price was at $0.019 and it has sinced hit $0.024 before settling at $0.02.
Today the company announced that better sampling results for copper/gold have been returned from its Serra Verde Copper Project and that is was planning a drilling programme. The share price closed up $0.002 to $0.021 on turnover of just above 9.5 million shares.
I would anticipate the share price to settle for the next week now however it is encouraging that also towards the end of the announcement that it stated "The Company has received significant interest from groups seeking to jointly explore its projects including the Trindade North Property which is prospective for high grade Carajas style iron ore. The options available to Avanco are now being shortlisted and adjudicated. Negotiations are at an advanced stage and strong news flow on these and further Carajas Transactions is expected soon."
Statements such as this are only made when directors of companies are pretty confident. Expect a bit of a kick in the share price in the next month or so should the directors be able to extract some good value from their projects for shareholders.
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