Portfolio Update – 3rd August, 2015

Overview

Hey guys, I know its been a while since my last update – I’ve been down in Mexico diving, fishing and generally having a good time. I managed to snag my first ever Marlin which was a pretty amazing experience!

Blue Marlin

Marlin caught off Rancho Leonaro in Southern Baja, Mexico.

Anyway, back to the portfolio. I haven’t been following things all that closely for the past couple of weeks, which is probably a good thing as almost all my stocks have performed badly since the last portfolio update.

With the exception of AZK, which is now in suspension until it re-opens under the Brain Chip ticker, all my stocks have seen small to moderate declines over the past couple of weeks.

I’m off to Chile and Argentina tomorrow for two weeks to go snowboarding and check the place out, tough life I know…I get the feeling I’m going to have to settle down and start doing some work after this next trip.

My thoughts in the near term – I’m not too sure. I’m going to have to sell a few shares to pay for all these trips. I’ve described my thoughts with the aid of a few charts below.

 

AJX

AJX made yet another failed attempt at cracking the 80c resistance. The market really didn’t like their quarterly report which showed significantly less revenue and cash receipts than I anticipated.

Part of the problem appears to be the payment terms AJX has with it’s clients; 30 – 120 days to receive payment upon delivery is a long period of time and cash flow from the recent contracts may not even show up in the next quarterly report.

I’m not phased by this and I’m still a very strong believer in the company, I’m just not willing to purchase more at the current valuation.

I’m actually hoping it can get back below $0.60, at which time I would look to add a significant chunk to my portfolio.

In the near term, I think there is a high possibility we will see the $0.60 level tested again as I feel like the market is waiting to see actual revenue flowing through.

Considering we just had the last quarterly, there’s at least three months before we get another chance to see confirmation of this revenue increase.

AJX Chart

CYY

CYY has held up exceptionally well after rising almost 600% from it’s lows. This has been all the more impressive considering copper metals torrid run of late.

Recent drilling has confirmed that historic exploration results are valid and the company has confirmed both strike extension of known mineralisation as well as identifying new, previously untested zones of mineralisation, with more results pending.

Assays received to date have all been in the 3% to 8% Cu range – very, very high grade in anyone’s books.

I’ve been tempted to take profits on a number of occasions, and had one botched trade where I ended up buying back in higher than I sold, but I’m going to hold on for now as I anticipate lots of positive news flow in the near term.

On another positive note, the gap down to 7.6 cents has now been “closed”, which should lessen the technical “draw” back towards this level.

Short term, I think CYY is likely to range between 7.5 cents and the recent highs. A break of 7.5 on volume would be a sign to get out.

CYY

 

RNU

My short term play on RNU has not paid off as the company announced yesterday that their first up drill results at their extension tank project hit nothing. The stock has been heavily sold down on the news. I am probably going to cut my losses today and move on and perhaps look to get back in when the dust settles.

I still think they have outstanding prospects and a quality management and geology team and think they have a bright future exploring in the region – there just isn’t a lot of interest in the exploration sector at the moment, with metal prices so depressed.

 

RNU Chart

 

 

 RVR

RVR is another suffering from depressed metals prices. Many are still predicting big things for zinc over the next couple of years with two of the worlds largest zinc producing mines closing down.

RVR is currently sitting in a zone of strong resistance between 12 and 13 cents. A break below this level and it’s “watch out below” in my opinion.

I’m now down significantly on RVR, but I still believe (hope) that zinc is likely to show a rebound in the near term and RVR is the best pure exposure to the metal on the ASX (in my opinion).

RVR chartHope you all have a good couple of weeks.

Happy investing,

The Nude Investor

End of Week Portfolio Summary for 17th July, 2015

Stock Average Buy In ($) Last Close ($) Last Reports Close ($) Change Since Last Report Overall Change (%)
AJX 0.473 0.660 0.685 -4% +40%
AQD 0.022 0.023 0.024 -4% +4%
AZK 0.089 0.150 0.135 +11% +68%
CL8O 0.011 0.011 0.012 -8% 0%
CYY 0.025 0.088 0.099 -11% +252%
CZN 0.009 0.008 0.009 -11% -11%
DUO 0.025 0.009 0.009 0% -64%
LWP 0.006 0.011 0.013 -15% +83%
RNU 0.021 0.015 0.024 -38% -32%
RVR 0.186 0.145 0.145 0% -22%