I am amazed Bazza has taken so long to post since he sold . The concept the market never lies is so baseless it in itself should highlight Bazza analytical skill set . If I didn't lie there would never be takeovers , we would never make a short term gain on any stock as it wouldn't fluctuate as the market would have it right . I wonder why Bazza has invested in FML if the market doesn't lie , it is and will remain a penny stock
Anyways - back to ROC , I think it is as simple as an insto exiting . There has been good sell volume which doesn't appear on ten sell side but simply Hits the buy side . The last update was very conservative in the estimates of production and the company needed to be pressed by analysts to admit there may be upgrades in prod and reserves during the year . Personally I listened to the conference call twice and it is clear Beibu is outperforming . Reserves are likely to be added during the year and Cashflow will ad to cash accumulation on a big way this year .
At current prices and assuming Poo stays around same level the stock is very very cheap . I have been adding at from 44 to 41 . Yesterday was the only day i didn't buy this week
As always i look towards HZN to add if they are doing ok - just to ensure Beibu doesn't have issues which have leaked - no recent SP weakness with HZN. Based on all metrics - roc is the cheapest it has been in over 2 years .
ROC Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
