Year end Tax Loss selling and financing needsThese two will be the counterweight to the drill results. Stellar drill results will overcome them, less than stellar will probably see lower prices. Also, as other companies are hit even worse, any strength in ANI will create an arbitrage opportunity to sell ANI, and buy others that remain at a deep discount. If you have a standard allocation to ANI, and a 12 month plus time horizon, then sitting tight has a good possiblity of working out. As I heard recently, if you think the stock can be extremely volatile to the upside, then it should not surprise you that it can also be extremely volatile to the downside. It was a great relative value when everything else was up, and drll results seemed imminent. Now, drill results are likely to be pushed out further, and everything else is becoming dirt cheap with oz in the gound, and some even entering production. In some cases, the market is not even giving value to the revenue.
BBR is finally announcinig their 43-101 results today, took almost 2 months longer than expected, and that delay has weighed on the stock considerably. I have an overweight position below .70 there and I am interested to see if the market will reward or shrug off what I expect to be good results - and the value that will be assigned to oz's in the gound. A few of these (ie BBR, BVG, etc) will help to define a metric for the current market value of new oz in the ground.
JMHO.
Good luck to all.