Actually, you make a lot of sense Optiontrader, although I would respectfully differ from you on a couple of key points. 1.The CR was opportunistic, no doubt about it, but I think you are doing a disservice to management by suggesting that the coy should "take risk and fund it up front" rather than taking another view ie that what they have uncovered to date at Paloma warrants the spending of more money ie risk is off the table, cash is required to capitalise on what they have uncovered. The ASX announcement sort of gives a few clues there, looking at where the raised money is to be spent. 2.You would need to be a Rumpelstiltskin, awakening from a 100 year sleep, not to recognise that investors are risk averse at present and that yield is the preferred option for your average punter. However, for those with a little more appetite for risk, there are plenty of appealing prospects out there, be it in gold, oil, nickel or whatever. The trick is, of course, identifying the coys which have the management ability to bring these prospects to fruition, and that the assets they control are real and potentially company-makers. NEN to my mind is one of those companies. 3. Comparisons with SIR are misleading in my view...how about KAR? Anyway, so much depends on your investment parameters...calling the short term price is fine for traders but I tend to have a longer term horizon. Thanks for your thoughts though!
NEN Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
