Had anyone not joined these dots? I figured everyone knew a company producing gas would benefit from rising gas prices.
QPM has been in a long term downtrend which made it overshoot fair value to the low side, and rising gas prices is one of the things which helped turn the price around. Of course, the conpany turning itself around fundamentally was going to do that sooner or later, but the basic picture is that the budget blowout on the nickel project made it certain things weren't going to proceed in away which which be good for shareholders if they proceeded at all, so the company was in a complete mess and understandably the price collapsed, the company then did a remarkable job of reinventing itself but due to doom and gloom sentiment the market didn't respond... until it eventually did, and now were seeing the price increasing, absolutely helped along by gas prices.
It's really not that complicated. But, yeah, I think everyone understands the concept of increasing gas prices being connected to an increasing share price of a company producing and selling gas.
QPM Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
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