In perusing the discussions on here I came across this that was posted last year
Emerald Resources (ASX: EMR) Argonouts David Franklyn (SELL): I've got a sell on Emerald Resources, which I think is a big call because again, the management team is exceptional, they've done a great job with their Cambodian asset and Dingo Range is a work in progress. But I just think valuation wise, it's a bit stretched. I think there's better value elsewhere. So it's a sell.Hoping this guy is wrong
David Frankln is argonauts fund manager. At the time the SP as it happens was exactly the same as today $3.89, so although it went beyond that, he made the right call at it hit around $3.30 at the low. You can listen to him @7:48 in the video.
So it is interesting that this is the same Argonaut that just initiated coverage with a $4.80 target as per my first post. Assuming it's the same guy, lets hope he's right again.
On a separate note, I hope the shorter has got burnt fingers from the recent SP revival !
EMR Price at posting:
$3.89 Sentiment: Buy Disclosure: Held
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(20min delay)