Given the fate of Albidon recently I can't argue with your reasoning Danestock, but the herd mentality isn't always the way to go. I won't get the cliche book out, but I think there is a reasonable argument to say that buying when times are bad can be a good thing. It just seems that bad times have been extra bad for this particular stock.
I myself wonder where it will end, but I can't help but think it is near (though I said that around $1 too). The nickel price is very low, to the point where some operations are becoming unsustainable at current prices. Albidon will still make a profit at the current price and lower, however, so on that front I am not too worried.
At a price of 40c the market cap of the company is now down to around $66m. This price is 10c lower than when the company listed in 2004, yet they are now producing and turning a profit.
The latest report on the company website from ERA is worth checking out, for those that haven't.
For those still holding, all the best, hopefully I am not misguided in my thinking. Nice work on your sale Danestock ;)
ALB Price at posting:
40.0¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)