Totally agree. I was at Hera in the days not long after they fought Glencore out the door and the share price finally recovered. Good (enough) team on site, managed to find value in all sorts of ways.
They had the historic Nymagee copper mine on their books but decided it was in the too-hard basket to do anything with. Then, a couple of years back, they started banging on about Federation. I can't remember the NPV of Nyamgee, but I don't think it would have been too much different to Federation (although I could be wrong). In any case it sounds like a complete cluster with the way things have turned around. Certainly need to mothball Hera if its not turning a profit; at least they hold what value they have!
AMI Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
(20min delay)