Gold right now is $18 below an All-Time High and miners across the sector are barely budging higher. Aris just hit the 3-year high of $6.25 for the third time. An old Wall Street saying is:
Double tops hold but triple tops seldom do.
The longer term chart shows a real nice Cup & Handle formation. The price objective = 6.00 + (6.00 -3.3) = C$9.30. It's essentially the depth of the Cup. One could argue that it should be C$9.50 but an even $9.00 is fine as a call out.
I pointed out to investors here that are still fence sitting about buying A series warrants that at C$9.00 stock price anytime between now and July 29, 2025 the minimum price for each warrant will be C$1.75. They are trading at 57 cents today. That's a 207% return.
Our two guesses on the board are reasonable I think. Should it come higher than Canuckman's 56,500, I could see the elusive closing over $6.25 be blown through to the upside. The production numbers for Q1 came out Monday, April 15th. I'm expecting news on Q2 production out this week if not tonight after market close.
Aris.TO 3-Year Chart