1. ABY crashed from around $1.25 to $0.76. A drop of around 39%.
2. Copper price was US$3.56 / LB or AUD $3.87 when ABY was at around $1.25. (note that the exchange rate was around 0.92)
Copper price now is US $3.02 / LB or AUD 3.64 (now note the exchange rate is 0.83)
In other words copper price dropped by just around 6% in AUD terms. But ABY dropped by 39%, IS IT NOT A HEIGHT OF NON-SENSE??
ABY made an EPS of around 20 cents and at the current copper price it will make an EPS of 18.80 (6% lesser due to copper price). Then why such a crazy moment in share price??
I am just calculating EPS without even considering Mt Gordon operation. If we consider that the EPS will be even higher.
ABY AT 0.76 IS JUST A GRABBBBBBBBBBB... THIS PRICE CAN NOT BE CALLED AS CHEAP ANY MORE THIS SHOULD BE CALLED "A THROW AWAY PRICE"
Cheers
Hari
ABY Price at posting:
77.0¢ Sentiment: LT Buy Disclosure: Held
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