Yes, you are right about that Chawkey. I'd be hesitant about buying anything in this bear market that needed an imminent CR.
I should have added that the speculative spike on the Red Bore Sandfire nearology didn't help long term SP momentum either.
The way I look at it I see a trifecta of the unwinding of specs in on bonanza grades at Ngalia during the nuclear rennaisance, and the unwinding of the SFR nearology specs, both within a waining market; and then Fukashima as sufficient explanation as to where SP is now. But just as THX has been overbought, it will also get oversold at some point. Accepted, that it is not easy to predict exactly when bottoms occur.
red bore, page-9
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