- Andrew Sheldon www.sheldonthinks.com
Tuesday, December 04, 2007
AIM Resources - buy
AIM Resources (ASX.AIM) is an Australian based company publicly listed in Australia and if I remember correctly, its also listed on the Alternative Investment Market (AIM) in London, but I could be confusing acronyms. This company is developing a zinc deposit in Burkina Faso, West Africa. It has a 12 year mine life. The stock peaked at 46c and has since fallen to 15c - a huge drop considering the project is moving closer to production. No doubt the reason is the weaker commodity price outlook. The stock has fallen back to a major (strong) support, so I thought it worth a quick trade. If you would like to participate in a forum on this stock - see Google Finance.
2 comments:
Andrew
I enjoy yr blog
for shares as well as all the other stuff- very interesting
Would you stll buy AIM with current weaker price ?
Mike
Yep I would Mike. I dont see the commodities prices collapsing below $2.60/lb copper, they will make a higher trading band, but they will consolidate with inflation, so higher costs. But you will also get a shift in valuations as they move towards mining.
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