My opinion is currently BMN is oversold, even relative to other U stocks in namibia.
Based on the historic highs and lows, BMN is underpriced relative to ACB and DYL by about 8%. I'm actually quite surprised to see BMN's share price being UNDER ACB's.
I'm keeping extract out of the conversation because the comparison isnt direclty relevent at the moment, and ERA has been smashed for reasons related to its ranger mine operations.
Have a look at this table and youll see how far we are from our all time lows as well as our recent highs.
Hopefully this EXT deal will go through and the namibian mines minister will clarify the situation in a positive manner for all the U stocks out there.
This situation is offering GFC style buying opportunities again for those that are brave. Obviously this comes with a similar risk profile, but one would think we're nearing some fundamental support lines.
BMN Price at posting:
32.5¢ Sentiment: LT Buy Disclosure: Held
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