Pheonix1 I always enjoy reading your informative reports ...
Punters, please answer one question for me ... why would any company director release any market sensitive information in the previous 5 months with a major seller (Matrix) on the register? Now that major seller is gone (or holds such few shares so as not to impact on any future price rises).
HR should be congratulated for adding shareholder value by letting Matrix sell out before market sensitive announcements are released ... this, imo, will allow the share price to run more freely to a reasonable value.
What is the reasonable value?
My opinion (and I have been wrong before):
End of February - 30 cents per share
End of March - 40 cents per share
End of year - I will not mention (save to say, significantly above 40 cents)
Conditions: market remains reasonably upbeat; copper price remains reasonably high (and by this I mean above $3.50 per pound); and, most importantly, that there is no takeover offer before the company can show the market what it really has.
This company hasn't even scratched the surface yet.
HR, if you are reading this, keep up the outstanding work!!
QMN Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
