We did a good trade in Aben Resources this year, and Golden Ridge Resources which is also a Golden Triangle stock, buying them in the Spring for a Summer drilling rally which duly occurred, having spotted that an annual “wash, rinse and repeat” cycle operates in both of them, which is due to British Columbia’s rotten Winter climate forcing drilling operations to stop in the Winter. In the case of Aben, we sold half of the position we bought back in the Spring for a more than 3 times gain very near to the top in August
. In retrospect we should have sold the lot, but dumped the rest by the end of September, early October, so overall did well.
Aben has continued to drop back and several days ago dropped hard again to arrive at our target zone for the low point of its annual cycle, and is buy again here, although it should be noted that it will probably require patience before its gets moving again. Liked here because the entry point looks very good and it is thus rated AN IMMEDIATE SPECULATIVE BUY
. The charts below tell the story.
Aben Resources website
Aben Resources Ltd, ABN.V, ABNAF on OTC, closed at C$0.125, $0.09 on 620th November 18.
Posted at 9.30 am EST on 21st November 18.