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hahaha JS! $1.00 is way undervalued with our current assets. Didn't anyone read the last broker report? Valued @ $1.70 on current assets alone. I seriously doubt PJ would chuck it all in for $1.00 I'm thinking more like $3.15
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Today's spike is a result of imminent JSE listing + new financial year IMO. Perhaps even some progress in Tassie? Volume very thin in past few weeks. People waiting until July to buy so they have a fresh 12 months?.
However, we shouldn't get too far ahead of ourselves here. Only 800k traded today. The buy/sell register has been quite thin for a few weeks. It's been ready to blow for a week or two now. Not many sellers which is always a good thing. Volume, Volume, Volume is the key!
But...lets not forget that stocks have a habit of loosing gains just as fast as they are made, so lets see what happens in the next few days eh? 4 weeks ago we all thought we'd never see 40s again?
When/if the broader economy turns green RES will be a BUY on many radars. 800k is chicken feed guys!
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