I agree that this company has been a shocking investment. I have been a long time investor. But thankfully I picked up most of my shares during the GFC lows and my average price is $0.43.
I find the latest downturn an opportunity. The company we knew 2 years ago is not the company of today. The new MD is well known to build up companies for sale - and knows (and has track record) of moving things along. Leadership is crucial.
I am not concerned what happened in this company even a year ago. It's what they are doing now. There were reasons why it was put on the shelf as we all know.
I don't think they will ever do what they say they will (mine 20m tonnes/year). But I don't care. I want them to drill, get their resource base up to 700m tonnes, do plenty of economic studies, then in 12 months have someone buy it off them. They have the cash to do this without going to market and only has 150m shares (fully diluted) outstanding. Opportunity.
Do you think it will be valued at $42M then?
I am buying in to the management structure (MD generally) and the cash they have to do the above for a decent (at least) short term play (12-18 months) from this moment.
If not then beers on me.
I agree that this company has been a shocking investment. I have...
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Last
3.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.931M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 24670 | 3.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.4¢ | 4161 | 1 |
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| Last trade - 16.12pm 27/09/2024 (20 minute delay) ? |
| SRK (ASX) Chart |
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