Runs like last weeks are bad for the stock, I day traded it for a little sport and profitted nicely, but I feel for those that paid 1.97. But I imagine most of them are already out!
I saw in the Herald Sun yesterday an article which quoted the main guy suggesting that 10% was reconverable and that there was about 1 billion in the ground. If that is true, it isnt worth 1.50.
Have a look at other resource companies, CMR has over 18 billion in the ground and is trading at about 3.70 on a similar total shares number. Now I aint recommending CMR, it has its own issues and is probably significantly undervalued due to poor management of a number of issues.
INP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
