Hi Sylvestor, hope you are well As i said in a previous post , 9 months ago they were selling HMC for just over 500 , today the margin is near 500 so its worth alot more. Back then the valuation was 30-32c , with about 50 m in cash inventory today the operational business is worth about 38c on current HMC pricing, and cash and inventory is circa 90m and Biddimina looks the goods. I would argue its as cheap today at 23.5 as it was 9 months ago at 16.5 -17c . As i said on another thread many fall into anchoring bias, because it was 17 c 9 months ago people automatically it was cheaper then than now , or when a stock falls from 2 to 1, that is is cheaper at 1 than it was at 2. Perhaps if nothing changes, but it could be easily more expensive at 1 dollar then it was at 2. Valuation is dynamic. If we assume 200 higher margin for 5 years , at 280 t per year , that is 260m odd extra cash flow
IMA Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
