Good morning Weber's,
Thanks again for checking out my blog and visiting the website since its launch almost a month ago. We've done particularly well with our portfolio (heading in to today it was up over 10% YTD compared to barely 3% for the TSX) that continues to live by its mandate to Beat The Market.
I want to spend a quick moment to draw your attention to the last picks that we had at Weber's Web.
Avion Gold Corp (TSX-V: AVR) and Midway Energy (TSX: MEL).
Both companies are moving up on either recent news or anticipated news.
In the case for AVR, 2009 Annual production numbers and costs are due out any moment now and I expect modest share appreciation on the results. While I expect full year profit per share to show a loss it will be smaller than past reporting. Additionally, if management comments specifically on Q4 it could show that AVR is well on track to have achieved profitability in Q1 (also due out in the next few weeks) as well as being ahead of production schedule.
All in all, for the same reasons I mentioned in the March issue of Weber's Web I feel that AVR's day is just around the corner. March's issue will be posted in "The Proof" section in a couple weeks.
Midway Energy recently reported the flow rates for their recent drills with indication that they were preparing for a busy drilling season. The share price has reacted favourably to the news. After a shallow sell off (which I told readers about in the March issue) the price hovered in our buying range prior to its recent advance. I expect this story to continue to creep upward....slow and steady wins the race.
Although not an official pick, you may want to check out Bengal Energy....they are due to announce some kind of drill program and the company is made up of the staff of a company that was swallowed by Daylight Energy.
I have updated The Proof section by adding a chart to track our progress as well as back issues and the EC Special Report to the website. Please feel free to visit as often as you would like.
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aka Chris Weber