The weakness in sp should be of no surprise -
1. oppies about to expire
2. placement at 38c
3. lack of 'new' news
and I wouldn't back on this being the bottom. I have actually sold out my entire holding some weeks ago but I still like the stock especially because it has a simple story.
I am still concerned however about the 'wall of supply' hitting the IO market in 2013/14 with some indications that the price may get down to USD70pmt. It is the companies that are producing or are about to produce which will make the large windfalls. Even so the PE ratios that they are on are very low due to this expected price fall.
2013/14 may turn out to be 2015/2016 in which every IO producer will be a winner.
The best way to play RHM is to buy between now and Jan - if you have the cash - buy the oppies and convert , a much cheaper entry level and there seem to be some large holders that can not stump up with the cash.
I would then be a seller early to late 2012.
As always my opinion only...DYOR
Spozzie
no surprise
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