Yup....and a lot less shares on issue as well (800odd mill from memory) But...different time, different level of mania in the market - plenty of money sloshing around happy to be thrown at a punt back then, plenty of FOMO yadda yadda.
Madness to think we are SO more progressed, mature and have increased tangible asset value (and more assets!) than back then.....however, we're not in the same environment so I don't really expect the same market reaction.
There's a real chance the coals don't flow as well- we have to acknowledge that potential risk....it would be a massive bummer if that were to happen.
But....if we do flow them and the certifier warrants classification to contingent reserves, then man o man....we are away, and combined with a 5mm-ish flow rate from a unified zone flow, the market WILL catch up to our true value given some time, but probably not until a tangible bid (or major shareholder purchase) materialises and the market reacts accordingly.
Just my thoughts...but what do I know?
EXR Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
