Fair enough .. you are right the sp is not where DC thinks it should be. But the market is at times inefficient at valuing companies ... just look at the prices that some stocks went to in the GFC! ESG went to 19 cents then and it was EXACTLY the same company as it was before the GFC. Should have backed up the truck then and bought as many as possible but I lacked the funds .. but I did start buying again at around 35 cents ..... when I sold "some" of them at over $1.00 in August/September that was a good return!
Longer-term investors like Yaqona, PP and myself look at valuations compared to its peers and recent transactions ... on that basis even with around 400 PJ 2P ESG is worth over $1.00. I for one can wait for the reserves upgrades and for the games to begin.
I always take some profit and did at over $1.00, in the 90s and then in the 80s ... so now I have funds to buy when opportunities like this happen again ... tempted to buy a few now but certainly will buy more if it goes lower .. I always average in and average out on my "traders".
Cheers
H
ESG Price at posting:
76.0¢ Sentiment: LT Buy Disclosure: Held
