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magazineThere is a good reason why Avesoro Resources' share price has 'shot up'
Avesoro Resources (ASO:AIM) 205p
Loss to date: 24.1%
Original entry price: Buy at 270p (adjusted for consolidation), 8 June 2017
Liberian gold miner Avesoro Resources (ASO:AIM) has completed a 100:1 share consolidation effectively cutting the number of shares by a hundred times. That serves to make the share price look much higher than it did before.
The new 205p share price doesn’t mean we are in the money on our bullish call on the stock. We adjust our entry price from 2.7p to 270p and await a better 2018 for Avesoro as it ramps up production from its existing mines and looks to add new projects to its portfolio. (TS)
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