After a disappointing float the market seems to have forgotten about Xanadu.
XAM is being valued by the market at much less than other Mongolian coal stocks. Whether this is because the brokers are on holidays, or because they are focusing on thermal coal rather than coking coal, I don't know. But I smell a bargain.
They have a JORC resource of greater than 300mT, about which they are in discussions with the chinese, their projects seem to be close to infrastructure, and there's gold and copper also.
I can't figure out why the market is valuing XAM at about half of AKM. Is it just the holiday season factor or am I missing something huge?
XAM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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