Deep value meaning ASM will work through its cash flow problems with the KTM project. They will then look to re-focus on producing primary REE &, zirconia. That will probably be allied with both a shortage of specific REE's and preparedness to fund their production. I believe I have a reasonable perception of how difficult it is to fractionate specific REE's. At that time we will have seen either success or failure of Arafura's efforts. If it's successful funding will be easier if it's a failure the shortage of REE will bite further providing price incentives. Hence it is a deep-value play.
BTW it's easy to make fun of companies when they are down and lionize companies when they're up. What makes make you money is being able to see the value in the reversed position before it becomes obvious to all. I got the from the greatest Australian Value manager- Robert Maple Brown - personally. I'm only distinguishing deep value versus relative value.
All IMVHO
ASM Price at posting:
$1.44 Sentiment: Buy Disclosure: Held
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