A very LT holding OZL is leaving the portfolio soon and I need replacement(s). Unfortunately the other cornerstones in the portfolio are a little expensive now. The BHP, FMG, NST, S32, IGO and EVNs etc have always had first call whenever something like this happens.
I've decided to spread it out a bit on the unloved part of the mining sector PAN, NML and OMH are a very good candidates at this point. My OMH order still has not filled but PAN and NML have. One more to go...
I understand the current retail sentiment and is the main reason I left the registry on the back of the faux pas June this year Post #:61756833 and have successfully preserved capital in doing so. Regardless at 3.8c this is now discounted heavily and plenty of value to be had at current prices for a longer term 2-3 year holding.
Would I have bought this if the OZL circumstance did not happen, probably not. This is not a decision I made lightly. I went through the value miners that have good balance sheets with a fine tooth comb and NML still came up in the top 3. I'm well aware that there is an element of "better the devil you know" on this one with Mt Carlton and my experience in holding EVN LT.
NML Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
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