May last year only 4mm of rain fell at Jabiru Airport.
So far this month 69mm of rain has fallen.
The rise we are seeing in ERA's SP is a temporary measure. The drop we are seeing in the Aussie $ is also temporary and will not drop much further before rising again.
We can expect to see ERA's SP drop to $1 a share and PDN to drop to 60c when the Aussie dollar rises well above parity.
My advice to anyone is get out now (or maybe wait a couple of weeks if you are brave)or regret it later on as the year progresses.
ERA's share price could go up another 20c maximum from current levels but will drop to $1 sometime in the next year. So much work still needs to be done both at ERA and Globally which makes $1.40 seem high to me.
One thing is for certain there will be one almighty rally in uranium stocks when this down turn is eventually over and the uranium reactors are viewed as the safest cleanest energy by the world but this will take several years. 2017 18 is my target for uranium prices to be around $150 US again.
A delay in aboriginal approval for ranger deeps next year or in 2014 will be detrimental to the share price as will rainfall as we are not making much money as it is likely we will be losing money for the next 2 years.
ERA Price at posting:
$1.45 Sentiment: ST Sell Disclosure: Held
