He talked about understanding the 3-phases of investing in a miner/explorer: Boom (exuberance), Bust (pessimism), and Echo (no pun intended). He mentioned the right time to buy companies is just before Echo phase after much pessimism, after all the noise and hype is all over, where the company actually starts delivering on its promises.
Where do you think EAR is in this phase? My assessment says it's at the mid-point of pessimism e.g.: final resource consents are approved but BFS is delayed. Mining contract secured; clear next steps are understood, but people are just taking their sweet time for some reason.
He also talked about not buying at a premium to what insiders are buying at. I see the board and CEO have been buying at between $0.11 - $0.16, so no issues here.
EAR Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
