ASEAN Deep Value Fund, page-25

The whole market is soft atm due in part by uncertainty over the US Presidential Primary in November. There is an obvious disconnect between the rising Uranium and Vanadium price and related equities. The wider market is still waiting for a confirmation moment or trigger before making a move. Contrarians and early investors are already set and in many cases, fully extended. Fresh investment will come from late comers which make up the majority of the market. If we look at ASEAN's buying...76.5m so far and then imagine the scenario where multiple Insto's and Funds are trying to compete for this same stock...well you get the picture. As Zubana has said, there has been slippage on timelines but this has been mostly due to the long term bear market which we have managed to come through mostly unscathed. Now that the sector is looking much brighter, there is little excuse for prolonged delays.

Looking forward, timing will be very important once again. If news is released on deaf ears or into a soft market, it will be wasted. If we can time the releases as new capital is looking for a home in the sector, we will get maximum bang for our buck. The clown that is selling now, will go down as the biggest fool of the two new bull markets. Good riddance, shut the door behind you and don't come back!