I bought in late this afternoon just before the closing bell.
In my eyes NMR at these prices is a very good buy but what it suffered from this afternoon is basically what the whole world is suffering from DEBT.Traders buy the stock on credit with the hope of a price rise and when the trade goes against them they have to sell sound familiar?it happens all time.I personally think the powers to be should ban T+3 trading but the thought of low liquidity wouldnt gell with the ASX due to low brokerage turnover.
Any how back to NMR compared to its peers AFR etc to me its a bargain not to be missed but it is yet to bee seen wether it can manage to hit the hights of its comparable companys in the African coal sector.With the general market sentiment low at the moment and probably will be for some time to come I cant see a MC of 100 million+ but there is a good case to be argued that 50 million MC or around 13 to 15 cps should be some where near the ball park.
IMHO DYOR
Cheers
NMR Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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