There is nothing wrong with ANV. People need to stop worrying so much about the daily fluctuations and look at the bigger picture. This thing busted through its 30WMA on huge volume in the second week of January. First time trading over that level since December of 2012.
From a pure technical standpoint, this thing looks great for this year as long as gold continues to rise. Once its 10WMA crosses the 30 week and is re-tested this thing should pop.
There is also the possibility of the rumored buyout coming soon as well. Just need to have patience. We will get there eventually. ANV could be a huge winner by the end of 2014.
Gold is down 25% over the last year and this dog is down 80%. It can't get over $5 if you look at the one year chart. If a martian comes down and buys up all the gold and gold rises $250 this stock might actually log some gains.
You just made my point. Look at a monthly chart of gold going back to 1990's. It hit a longterm support level and re-tested it in January. Gold is on its way back up. So will all miners who are not bankrupt.
Just because ANV hasn't been able to close over $5 means nothing. No stock goes straight up forever. Give me a break.
I agree and I think it's worth restating that Robert Buchan, Executive Chairman of ANV bought 200,000 shares at $10.75 per share on May 17, 2013. He was the founder of Kinross Gold in 1993 - retired 2005. IMO this guy would not have pumped 2+ million into this company as it was going down without knowing the upside - and since this appears to be his one remaining mining interest, it makes me think, this is his baby. Any buyout would be well above $10.75 per share.
Buchan bought his shares as part of the general underwriting.. It was part of the deal. The underwriters, btw, went immediately underwater and most still hold the stock. They're the ones who brought the lawsuits on the phony buyout bid at $7.50. These guys are not going to take a loss if they can help it.