Not sure that there is any urgency to get back in at this point in time but I am back in there buying again. In my view, 6.8 cents was way to low but on the other side of the coin the 70 percent rise to 11.5 cents was too fast and perhaps even reckless. I did sell a large quantity of my shares when they rose so sharply and even managed to sell some at the peak of 11.5 cents. If I had to bet now on which of the recent turning points will be the first to be past again i.e. 6.8c or 11.5 cents my money is on the latter. I think they are more likely to rise than to fall in the medium term. If they do make their way up to 11.5 cents again it won't be as unstable next time.
PPX are still incredibly cheap in terms of cash flows, and price to book. The CEO seems to be tackling his difficult task with a degree of passion and for me PPX remain a good punt at these prices.
GPASAS
SRS Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
