RE: Next support is at 2.60Managment has nothing to do with the recent sp retraction. Orvana has been beating the Capped Diversified Metals and Mining Index handsomely. However, the index clearly indicates that macro events with metal commodities and miners influence Orvana.
The macro events influencing the markets are fears of a cooling in China, rising oil price stalling economic recovery, and peak metal prices killing demand.
Not to worry for Orvana. Asian development is not going to stop, metal price will fluxuate at the margins but demand will continue to rise and supplies are constrained, and a no fly zone will be imposed on Quadaffi and he will be removed.
The macro global trends are not going to change. Any pull back in Orvana shares are an opportunity to pick up shares cheap. Orvana is a well funded miner with its Bolivian operation back on stream and even better and with its Spain project a few months away from start up. The risk is all out of Orvana.
While the TSX Diversified Metal Index has pulled back in the last sixweeks Orvana has done less so and has increase its differential over theindex and its index beating performance since last May. Here is thecomparative chart:
https://ca.finance.yahoo.com/q/bc?t=1y&s=ORV.TO&l=on&z=l&q=l&c=^GSPTTMN