Acuvax (ACU) Next Biotech to Resource Play

Acuvax Limited (ACU) had some nice volume and trading today so I decided to do a bit of research and see what I could come up with.  I'm quite excited about this high risk shell play that I am sure is soon to vend in a resources project and see some good returns!

Today's share price action suggests to me that the company is soon to acquire a resources project, that or the market is starting to join the dots together and get onboard...

The first sign was the annual report issued in September and the following statement contained within:

"Outlook

The Company is continuing to pursue investment opportunities in the both the biomedical area and
alternate sectors. The Company is currently in preliminary discussions with several interested
parties with a view to furthering any investment opportunities for the Company at the completion of its capital raising program."

The above statement is quite vague and gives no indication what the further investment opportunities may be so taking a position back then would have been just a punt.

Those astute market watchers or people with a keen eye for details may have picked up on the next clue in late November.  This was in the form of old directors resigning and new director appointments of Keong Chan and Lloyd Flint.  Lloyd Flint is currently a director of Palace Resources (PXR), past director of Zambezi Resources and also has secretarial duties at Globe Metals & Mining (GBE) and Odin Energy (ODN).

In December (02/12) we see a change in Secretary and office to where else but Perth.  Perth is where many of the small resources specialist brokers such as Patersons and resources companies reside.  It's a resources rich state, especially in the North.

The next clues are becoming less subtle.  Numerous substantial holder notices are being lodged in early to late December.  Those investors include Jersey Investments, Murdoch Capital and Syracuse Capital.  These are all companies with stakes in recently listed float Glory Resources (GLY).

In conclusion I think that today's share price action was more than just a pump and dump and there's a bit more to come on this one.  ACU shares were up $0.002 to $0.004 on 66 million units, still valuing the company at a small $4 million.  If other recent shell plays such as Energio (EIO) and C @ limited (CEO) are anything to go by this should be very interesting!