Aka, you are so fixated on the current share price that all else just seems to fade out of view. In particular the fundamentals.
If you can't see that the following things have tangible and intangible values, then you have a very simple view of the world:
- Native Title Approval - Extensive drilling and delineation of a resource - Environmental Studies - Access to Cockatoo resources and infrastructure
You state:
"yep its stunning all right its less than the IPO price ! give me a break"
But on the other hand, we also have a company with a much greater market cap that at IPO. Does that not imply that the company has created something of value since the IPO? That they haven't simply been burning cash? You would argue that the news is in the price, but the market is dumb and doesn't always price these things correctly. If it did, FA's like Buffett wouldn't have become so rich. Just because one insto (JP) sell out, doesn't mean that the project is a dud.
PLV Price at posting:
19.8¢ Sentiment: Buy Disclosure: Held
