the market cap is not high relative to what they have found imo. Its cheap along with zero upside for whats coming with Bunawan. Its also worth remembering that SRM is a multi mine / lease upside play with both high grade copper and gold and cash. The short term dumb fund syndrome plays out as it always does. Funds buy at the top and sell at the bottom. The future fund was a classic when they sold Telstra at the all time low. Funds get redemptions when things have already become obvious, this just pushed stocks and commodities to silly lows. Mean time, they are going to go and buy banks etc at much higher PE's than in the past. The iron ore stocks prices are now lower than when the physical price was $90. Its all about fund redemptions. dyor and buy the dips because we will see much higher prices when the drills turn in due course.
SRM Price at posting:
23.0¢ Sentiment: ST Buy Disclosure: Held
