A1M: General Comments, page-488

Today's AFR, in a roundup of hot stock tips:

David Prescott, Lanyon Asset Management: Prescott sees potential in AIC Mines, whose copper mine in Queensland is set to scale from 13,000 tonnes to 20,000 tonnes over the next few years, with costs falling as production rises. ‘‘We think we are buying that company on two to three times free cash flow, which is extraordinarily cheap.’’

_____________________________

Quite so.

Well groomed gentlemen like Prescott only make such pronouncements after they have built their desired positions.

Those late to this party have found it difficult to buy good volumes at low prices. Using bots to relentlessly sell tiny parcels of shares to suggest market interest is at the lower bound only works on the ill-informed and those just learning to surf.

A small window to accumulate exists at 52c, the ATO-dictated entry price (51.94c) for merging Demetallica holders. Watching behaviours at that price point will be instructive.

Ash