Good pick.
I have questioned myself few times about it and also here many months ago.
The disparity has only widened.
As Epictetus said 2000 years ago...
Things look in 4 different ways
1 Things either are what they appear to be;
2 Or they neither are, nor appear to be;
3 Or they are and do not appear to be;
4 Or they aren't but yet appear to be.
So from my assessment MOY falls in the 3rd category and PNR falls in the 4th catergory.
However my belief is that MOY's market cap will catch up with PNR in 6-9 months time.
MOY has entered my buy zone and am very happy accumulating it.
I am a buyer from (20- to wherever someone is willing to push it down).
Currently sitting at a EV of $115 million.
I was a seller from 21-25. I copped a lot of criticism for that.
But if anyone took note and acted would be happy now.
Glen Dovaston has not sold his shares. He sold 1 Million after he left and still holds 3.16 Million as of yesterday. I don't know how and why he exited but glad to know he still holds those 4c shares.
If he hasn't sold yet then he must definitely think they are worth more.
3 of the senior past and present managements are in the top 20
Glen Dovaston
Peter Cash
Gregory Bittar
Mark Creasy from Yandal Investments a prominent Mining investor still holds.
Gamblers like me still hold and buying.
MOY is in a transition phase.
Not so great 4-5 months ahead in terms of results but great in transitioning the business for the future.
As always a lot of patience will be required.
I don't know how low the share price will go.....or will it go up from here but I do suspect the share price is close to the BOTTOM than TOP.
MOY Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
