Ann: Significant new zone of Bornite gold-rich mineralisation, page-15

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bunter999

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04/03/19

13:56

Post #: 37644578
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Originally posted by arsenic: ↑

The whole thing of how pre-development resource stocks get priced was an eye-opener to me. I readily see swings of 300-400%in a number of them. over a decade or more I have come to accept the system. when the commodity you're exploring is out of favour one had to tolerate ridiculous prices of say 1-2c /lb. When the scarcity is obvious, the metal running or bites it can be 4-6c or more. where you can really make (or lose) money is on the transition. Thank god that during the development process there are SPP, rights issues etc. which tend to cause some form of averaging in entry prices.

So at 14c or even 30c XAM is probably undervalued by 2022 prices if the expected Cu shortage eventuates. That will be partly illustrated in The PEA. It's a hell of a game of poker we're involved in.

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yes....but hopefully you also play cricket, bridge and squash to mitigate the disasters of a bad hand...!

XAM Price at posting: 14.5¢ Sentiment: Hold Disclosure: Held
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Ann: Significant new zone of Bornite gold-rich mineralisation, page-15

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