I agree, don't think to much into this. It's traded 150,000 of 500m and is $40k from being 20c, the market is choppy to say the least, which isn't helping.
For me, I see it as an opportunity and my very best winners have come at this point in a company's life. I always refer myself to a diagram an old industry stalwart sent me when I asked him about a gold miner that I wanted to back, at the time (early 2008) the market was terrible and I really wasn't sure about it because they were still commissioning the plant.
He told me to work out exactly where the company was in the cycle. I backed it and it's still clearly my best purchase and I continue to hold them today.
As for IDM. They are still commissiong the plant and they've probably run into some issues (like any new plant), but they will be progressively working through each one and it will be getting better by the day. We've seen pictures of product bagged 5 high in their storeroom and availability times for both mills are increasing, so that is more than encouraging and knowing how a plant works, it's either running or it's not.
Just remember, this board and management team are absolute top notch, anyone who ever owned Jabiru would know the quality of Barry Bolitho, another WA stock I backed during commissioning.
I was one of the buyers at 16c today and have absolutely no issues it staying around here.
All the best
Pep
DYOR
IDM Price at posting:
15.9¢ Sentiment: None Disclosure: Held
