Aurelian Resources (ARU)

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Globe says let Aurelian rule your investment portfolio

2007-07-04 05:57 MT - In the News

The Globe and Mail reports in its Wednesday, July 4, edition that Jones Heward Investment Counsel portfolio manager Bill Belovay sees opportunity in Aurelian Resources. The Globe's Maureen Darrigo writes in the BNN Market Call column that Aurelian Resources stock finished trading Tuesday on the Toronto Stock Exchange at $26.75, up $1.79. Aurelian Resources stock has a 52-week trading range of $43 to $17. Mr. Belovay says, "Aurelian remains a top pick as they are at what is described as the final stage of the company being acquired." Mr. Belovay believes we are in the "summer doldrums." He looks to the metals traders whom he says "cannot find direction." Mr. Belovay sees Tuesday's announcement by Teck Cominco to acquire Aur Resources as "the spark that could ignite a bit of merger madness into our market." Mr. Belovay manages the BMO Resource and the BMO Precious Metals Funds. BMO Resource Fund has total assets of $300-million. The top five holdings in the fund are Aurelian Resources, EnCana, Niko Resources, Stillwater Mining and Nexen. Aurelian Resources stock is down $6.15 since it was last recommended in the BNN Market Call column on May 23. An investment of $1,000 then is now worth $813.06.