On FA
the figures are better than the 2016 record results
Q2 Q3 were breakout results
The market doesnt yet believe it can carry on like this past October & doesnt believe the figures & drill results & wrongly assumes a CR may happen but its not needed at all, they believe Karouni is troubled & has legacy issues just like SBM had but ignore the fixups & turnaround.
Q3 Q4 results are and will be records and outstanding yet SP remains in this low range 9c-12c.
Yet Macquarie still calling 45c!
On TA
the SP languishes at 9-12c for last 7 months, the results ignored.
now it sits at these 7 month highs wondering whether to retrace that gap from 16c-32c
On the 5 yearly chart TRY has shown it can move sharply up and down and easily retrace along the curve and the onscreen low volume and low offers are showing this.
The small sellers at 8c-11c have been proven wrong and soon at 15c will be banging their heads in the wall.
In my view I saw this type of moves in AGO FMG SBM SLR and others at their decade lows and once the operations were pumping again and sales prices strong all it took was a large unexpected debt repayment & strong cashflows and then the multibaggers started coming with INSTOs piling in.
Once the market sees the AISC, cashflows and debt slashed then rerate retrace upward is inevitable.
If the market valued TRY at 32c-76c even with half the equity at worse results then I cant see why it cannot rate it again at 20c-36c. If they value DRM at 31c equity prorata then TRY can be higher than that.
TRY will FLY!
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