RE:Good Buying Opportunity ?macdj,
The answer to your question is the perception that this is a high cost gold miner with short mine lives at both mines, and a copper by product at unattractive prices. Then add in the fact that they never got their LPF process at Don Mario to work, so they have millions of tons of oxide ore stockpiled that they haven't been able to process. EVBC was only running at half of capacity so costs there have been high, and so the market is saying show me some profits before I let your stock price go up.
So, here's the weekly chart on ORV.TO. I like this chart from the technical standpoint.
There is an OBV bottom in January 2016 with a bottom in the stock price at 10 cents.
There was a weekly coppock buy signal in March, and a false break of the downtrend line in early May. That was followed by the high volume flush of the week longs in May, and then the real break out of the downtrend in July to 38 cents, followed by the recent down trend to 22 cents which formed the right shoulder of a head and shoulders bottom. So the chart is set up for a bullish run to at least 80 cents.
Orvana should report 2016 fiscal year end results in the next 2 weeks, and if ORV reports a profit for fiscal Q4, I would expect ORV to start a bullish run if that were the case.
