Could not agree more with your point about being too close sometimes (although our friend is not an insider exactly) Long termers (professional & blue colar) in the mining industry in the Northern part of Oz tend to have worked in quite a few places & friendship networks are constructed far & wide. The breadth of info within these networks is amazing .... but even more amazing is that in general the members don't realise it or just don't care to utlise it.
ERA is just such a animal as you describe. When pit3 was filled to the rim after the cyclone a couple of seasons ago, the sp kept going up for weeks & weeks before the market reacted. But what you describe is more often the case ie good fundamentals/figures within the co are not appreciated as much by the market. But co's like ERA are more bad news cyclists .... LGL is another one. The fundamentals always seem to point to them being undervalued & ready to rock, but invariably they hit the market with a cold spoon just as a woody was developing !!!
ERA Price at posting:
$7.72 Sentiment: None Disclosure: Not Held
