Wednesday, September 22, 2010

Morning Briefs

All eyes will be on Avanco Resources (AVB) after it's surge yesterday.  The company announced that drilling confirmed 'existence of a exceptionally high grade copper zone' including one spectacular hit of '9 metres at 50.49% copper from 18 metres.'  Not all of the assay results have been sampled so there's chances there could be more good news on the way.  There's plenty of bids in the market depth this morning and the stock will probably gap up on open above $0.07.

After accumulating a stake in Northern Uranium (NTU) Conglin Yue has now moved on to Orion Metals (ORM) too.  He filed a substantial holder notice on Monday evening helping the share price along yesterday.  He filed another notice yesterday afternoon confirming his stake increase to 12.05%.

It seems like a few are catching on the to the potential of Botswana coal play African Energy (AFR).  The share price has seen some awesome gains the last week and surprisingly avoided receiving a speeding ticket from the ASX.  Today the company has announced a price sensitive update and exploration target.

Gryphon Minerals (GRY) remains in trading halt pending a capital raising.  It's no wondering the directors have decided to do so considering the share price has risen from $0.84 a month ago to last trade of $1.45.

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