Today's movers and shakers

Whilst the Aussie market is trading sideways and still attempting to stay above that 4650 level, there's definitely a lot of money to be made in the smaller cap stocks with most days now showing some top gainers with share price movements of 40% and above.  Stocks that come to mind include Northern Uranium, Orion Metals, Avanco Resources and Peak Resources.

Today Avanco Resources received much attention today with it's announcement 'Iron Ore Project Update'.  Whilst there was information confirming the receipt of the initial payment from Vale for the Trindade North project the announcement also detailed the conditions of the purchase of the project all of which we have heard before.  Those that read the announcement more closely would have come across the statement "pending drill holes assays are expected soon, with abundant copper mineralization having been already logged for many of these holes. The Company is anticipating to be able to report further results in the coming weeks." in regards to the drilling completed at the Rio Verde Copper Project.  The shares finished up $0.026 to $0.096 on volume of a massive 306 million.

Galaxy Resources (GXY) had a nice little spike in it's share price before the company decided to put it's shares into trading halt.  The company is due to provide an update on the Mt Cattlin project and future financing arrangements.

Capital Mining (CMY) showed that anything rare earths is still the flavour of the month by surging 33% to $0.12 after hitting a high of $0.15.  The company copped a speeding ticket from the ASX for it's efforts.

Finally, I recently mentioned Apollo Consolidated (AOP) in a post regarding how it could be one to watch however had reservations about the number of shares that would flood the market (issued to Patersons clients).  Well, it appears that the overhang of stock is easily being soaked up by the market.  It also appears that the Patersons clients aren't selling the stock down but rather drip feeding it into the market.  This is evident today with nearly 35 million shares changing hands and the stock only increasing by $0.002.  I dont think it will be too long before it really starts to move.

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.

Small Cap Snippets

I'm amazed about how much interest there still is in Northern Uranium (NTU).  The fully paid shares have now gone ex-rights and the rights are trading under the code NTURB.  For those that follow the stock don't forget to watch closely for any arbitrage trading opportunities between the rights and heads.  Also interesting to note is the forever changing share registry.  Not long after Areva confirmed it had exited it's position so to did Mineral Resources (MIN).  Since then we've also had Conglin Yue (from my research he seems to be a private individual investor with many other holdings) show his hand after accumulating a 10.92% holding.

This morning I tweeted about Batavia Mining (BTV) and that it would be one to watch today considering it's form yesterday.  Definitely a leaky ship.  The company went into trading halt this morning before trading commenced and it will announce exploration results soon.  It's neighbour, Western Desert Resources (WDR) announced drill results from it's Roper Bar Iron Ore Project yesterday with little fanfare.

Finally, Avanco Resources (AVB) had another case of 'flashing' or fake bids earlier this morning.  The games in this one have been prominent the last few days.  'Flashing' involves showing fake buy or sell orders to incite other traders into placing orders and therefore triggering trading.  The stock had numerous large buy orders in pre-open this morning which were cancelled before market opened.

Other updates: AVB, NTU

Northern Uranium (NTU) has bounced back after being hit from it's announcement to place shares with Jiangsu Eastern China Non-Ferrous Metals Investment Holding Co to raise over $15million for a 51% holding in NTU.  I'm surprised with such a strong rebound in the shares and especially the volume being traded.  From reading chat on internet stock forums it appears many retail shareholders are going to vote against this and possibly egg-on the FIRB to reject the investment leading to a Lynas Corporation-style combeback.  A 9 million crossing of shares at $0.12 has also set tongues wagging with interest as to who the identity of the buyer may be.  Whatever the reasons the interest in rare earths companies is definitely back (if only for now).

Avanco Resources (AVB) made a nice little announcement today advising the market that Vale (iron ore behemoth) has taken an option to acquire the Trindade North Property from Avanco.  This will enable the company to earn royalties on any "in-situ JORC compliant iron ore resources in the measured and indicated categories" whilst focussing on it's copper projects.

Avanco Resources announces review of Serra Verde Copper Project

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.

Avanco Resources: Good trading signs

Avanco Resources (AVB) came up on my radar this morning.  At 11:10am there has already been over 7 million shares change hands with the price firming $0.002 to $0.019.  Volumes such as this haven't been seen for about 6 months.

The company mentioned in it's Quarterly Activities Report on 30/08/2010 that assay results from drilling at it's copper project at Rio Verde are pending so news could be around the corner.

A brief mention in 'Pure Speculation' may have also assisted the stock.

A break past $0.02 and the stock may really start to fire up.