Some basic pyschology: uncertainty breeds insecurity. There is a a lot of uncertainty because of the lack of an announcement when punters desperately need info to reassess and choose a direction. To my knowledge we have no factual information about the reason the MD resigned so abruptly. It certainly didn't read well. You'd expect a drop in SP. But this dramatic?
The fundamentals of NRL and its assets haven't changed since the announcement of "continuous coal". The psychology driving the SP has. Meanwhile people who believe in this story have been accumulating at a bargain. Just remember that NRL was 18c+ and happily cruising unfettered towards 20c before the latest announcement.
From what I have read Gazman knows his stuff - far more than I ever will.
But someone else who knew far more than I ever will told me to stay away from NRL cos "it's a trap".
That was at 5.3c.
I reckon we wait till anyone apologises to Gazman.
where are the reports, page-7
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