NWC 3.33% 3.1¢ new world resources limited

I'm cursed with seeing all the inconvenient facts behind...

  1. 2ic
    5,776 Posts.
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    I'm cursed with seeing all the inconvenient facts behind impressive headline results... and inherently suspicious (rightly so). This SS is moving closer to the large dilution mining reality I've always predicted, but based on an MRE that looks more a work of fiction. But that's my personal view.

    The market, imo, is priced firstly by insiders (those who get hold of inside information by ASIC's definition, not company employees to be clear), then by investors who consider the merit of results, overlain by various exploration upside and NWC's location on the Lassonde Curve downside, and finally by the volume of sellers vs buyers. Clearly the stock has no buyers except those hoping to trade the SS bounce (bought before today by definition) and surplus of sellers looking to trade or finally exit the SS bounce...

    The quarterly and SS outlined project development time frame that keeps extending out beyond Mike's initial, hilarious "in production by 2024", and along strike of Antler exploration upside that also hangs on a long pole in front of us holders. Even if you don;t know (or have rightful concerns) what is really going on with the feasibility studies, everyone understands that interminable delays missing every guided deadline is bad news. Proof will be in the pudding of post SS buying over this week imo.

    Mike will working the phones with analysts, funds etc selling the SS and NWC's 'gross undervaluation'... if he can't convince the bigger, savvy players that mid-4's isn;t good long term value despite delays then the market is voting with their feet! If the price stays mid-4s, then it's just another example of the Efficient Market Hypothesis... where news public and unreleased gets priced into a stock long before the results are released. History with NWC is that results are known long before release, and the price also arrives in the 'right place' before release. Maybe this time will be different?

    GLATH
 
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Last
3.1¢
Change
0.001(3.33%)
Mkt cap ! $87.90M
Open High Low Value Volume
3.0¢ 3.1¢ 2.9¢ $183.1K 6.113M

Buyers (Bids)

No. Vol. Price($)
4 739483 3.0¢
 

Sellers (Offers)

Price($) Vol. No.
3.1¢ 264993 1
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Last trade - 16.10pm 25/06/2024 (20 minute delay) ?
NWC (ASX) Chart
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