Really interesting at the low end of the market, page-28

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philh9

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08/05/18

11:25

Post #: 32950093
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Originally posted by eshmun ↑

Hi Nord,

I think the market is seeing the relative value in those two mid-tier companies after having ignored them in favour of the big names that have had their valuations run up strongly of late.

On the other hand investors have become a bit nervous having seen companies like CMM, KIN and BRB downgraded as feasibility studies are published, projects are progressed and resources declared. Same happened for WAF as you will remember. The volatility of these stories does seem unreasonably high and it also seems as if "progress" is being punished more often than not in the last year/s. I suspect this arises because the values of these development plays are run up to high during the exploration and delineation phases and don't reflect the true risks and the funding hurdles.

Having said that I also bought a small initial holding in EAR today based simply on the NST TO play, although I'm not convinced that the price can't fall further from here as the downtrend is about 3 1/2 months old now and isn't showing much sign of reversal. The logic that the price is under the NST average, so it must be a good buy, doesn't negate the logic that also says if NST want EAR they would want it as cheaply as they can get it. Nothing but games, games and more games in the markets these days. I'll wait until they release BFS before buying anymore. Esh

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Hi @eshmun

Topped up today, I have a similar view on NST, but tend to think they are more of a mentor at this stage, sure they will take it at some stage, I do think they set a value, trading under .29 for me is a buy, no rush as some folk will sell for much less in these soft months .255 was perfect today.

Cheers
Phil.

EAR Price at posting: 25.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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Really interesting at the low end of the market, page-28

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