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4/17/08

Aurelian (ARU.to): make my day

So this Reuters report hits the air and ARU.to gets tanked for 17% (at time of writing).

It says:

1) Exploitation of large scale mining will be on hold until the new mining law is finalized. We knew that already. The timeline mentioned is around 6 months.

2) Correa is pro-mining as long as the miners adhere to the new laws being put in place. We knew that, too.

3) Errr...that's it. It isn't clear whether exploration stage miners like Aurelian can move forward with construction plans during this 180 day period, but apart from that there's not much else to say. It would appear to affect Dynasty Metals (DMM.to) more than Aurelian, Corriente, IAMGold etc, as Dynasty was close to going into production at its Zaruma operation. Right now DMM.to is down 3.5%....ARU.to is down 17%.

There's no reason to sell into this panic, and every reason to buy ARU here. Once the sheep are shorn, wiser words will calm the market and ARU will go back up.

Aurelian at C$7.14....BUY IT WITH BOTH HANDS