It's rank amateur hour when people are talking about how much a share has gone up or how many bags without any reference to what the shares are worth, what the company can produce profit wise over the longer term.
WA1 started off with a very low Mcap, justified at the time because we had found nothing, there was just a few tenements and a few million in the bank for a 'new' junior explorer, which are a dime a dozen.
Once a discovery of anything is made, price then reflects the future possibilities, with a decent level of volatility. Being thinly traded usually adds to this volatility. As discovery turns to resource drillout and Mets, price tends to lose some of the earlier volatility, but can come crashing down if resource size is under expectations or the Mets prove very difficult.
WA1 came from a very low base, so the multiples it's gone up are no excuse to take profits, all it's doing is handing further profits over to someone else that knows and understands long term value.
WA1 Price at posting:
$13.31 Sentiment: Buy Disclosure: Held
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