Now dropping like a bucket of bricks....2.54, told you , buying at 2.80 crazy imho. down 3% again today other Ni stocks even or down 1%, SIR worst in the sector...whats this telling you, back to base camp $2.20 looks like, sure new ni finds may hold it level but the cashburn from now to 2017 will be unrelenting -$130M pa, forget -$66M and ever since it started building, interesting.
I have tried to warn you teenage boys, the dreaming is getting hit by screaming babies in a hot donga, when the wife starts screaming and arguing then your head will really spin.
SIR is looking for a bottom, the shorts are in, with Ms of shares they can do sirious damage. Pick the ni producers that will benefit from rising NP next 12 months. SIR cannot benefit from rising NP right now, it doenst produce, SIR will benefit from lower AUS$, lower capex, lower oil price, recession next 2 years...thats a negative scenario. Its a recession in mining capex and gold,IO already.
SIR will be forced into buying infrastructure and acquisitions. Dont stand in the way,.
SIR Price at posting:
$2.54 Sentiment: None Disclosure: Not Held