The market is purely the place where buyers and sellers express their price expections Markets will generally find a price based on commercial fundamentals in the long term. In the short term markets can be quite irrational in their pricing. In Sep GIRs price fell to 0.46 which was an irrational price based on the sellers gaining the upper hand. In early Nov a price of $1.97 was reached. This price was factoring in the future establishment of JORC resources for iron ore. Now that the coy has its first JORC res and is optimistic that the remaining drilling and assay work at Beebyn and then Beebynganna will firther increase that res the price should have continued above $2.00. The companys initial results from Earaheedy should have propelled the price above $3.00. But sellers have gained the upper hand and buyers are waiting for the next results. The sellers arent blessed with any great skill or insight. They just want to sell for their own reasons Over time the market will price the stock on measures such as NTA,PE ratio and dividend yield.
GIR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
