You're not correct & you're not incorrect .... I think its taking a lot longer than anyone expected (hence the agro) & so its still early days but all the clues lead to the fact that management believe something lies beneath as we've gone from Coates - Bynoe - Lake Johnson to .... Medcalf fast tracked & now being the priority , plus Diamond drilling & now the first mention (to my knowledge) of an MRE . Raising capital seemingly overnight @Sweet FA discount in this market also indicates that ''others'' believe it too .
We are currently trading at a 30% discount to the CR based purely on Ausbil actions in what I would describe as ''forcibly'' winding down a position in a known low Vol stock (assholes) . Nothing to do with the Co's actions , so presents an ideal entry / top up for those who have done their research .
Coates requires more time & money spent on it than is warranted (at this stage) & a deal will be done with CXO in regard to Bynoe (DC's own words to that effect) , so that leaves Lake Johnson for us as a ''Company'' .... hence going intense .
The Li is there , to me its a question of tonnage / economics & i'm more interested in what the end goal is & try to pick up on language such as .... ''supplier to market'' .... ''MRE'' .... all encouraging signs thus far . Also , the multi bag post I.P.O days are over , this has become a long play , anyone who thinks otherwise is kidding themselves .
CHR Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
