Ann: Minyari Dome Project Update, page-15

A bit more food for thought re share valuations.
An interesting example. GGP.
30 Nov 2020 GGP signed JVAs with NCM for Haverion and Juri, as well as a loan agmt.
The maiden resource for Haverion was released 10 Dec 2020 for about 3.4m AU I think.
Announced Shaun Day's appt 15 Dec.
29 Dec mining proposal approved for Early Works at Haverion.
13 Jan 2021 NCM board approved $146m funding for the early works.
What a great roll out of news which led to an all time share price high of 36.90GBP on 31 Dec 2020. What a run from sub one pound levels in 2018.
Since then there has been tremendous progress in both exploration, size of the resource and towards development. Gold is trading back near all time highs.
What's the current share price? You'd think fundamentally at least double Dec 2020?
Nope. Trading about 78% less at around 8 pounds.

The market notoriously misprices at the spec end of the market especially. Both over and under fair value.
What's often important is shifts in demand and sentiment for individual stock, sector, market plus POG. Money flows in and out of stocks and sectors. Technical charts can show that. Good entry points can be when stocks break out from a long base on increased volume indicating a positive change of trend in demand. Through until peak frenzy. Probably when some genius announces the $1 party on HC.
Fundamentals are useful for assessing fair value. Makes sense to buy below fair value and sell above. Shifts in demand and sentiment are useful indicators of changes in share price.