The share price moves defy normal logic. The briefings last week were basically quite good news, everything on track etc, and MIns goes down from $24 to $18.5, now back to $22.5 on no news at all!.
I don't know where it goes short term, day to day etc, hour to hour, but i do no the long term trajectory is up, up, up. When it reports the quarterly at the end of July my view is it will be at least in the $26 to $30 range. So you can buy and just sit on it.
They are now doing 29 m t pa daily rate consistently at Onslow, which will continue to improve, generating $1 bn of ebitda and free cash flow a year to de gear; and the rest of the mining services covers the interest payments on the debt plus the cap ex.
So you just have to be patient and the quality of the business will take over driving the share price performance up versus the hedge fund / short selling rumourtrage.
MIN Price at posting:
$22.42 Sentiment: Buy Disclosure: Held
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