Tax loss selling peaking this weak, copper price at 52 week low, material sector on the nose worse than ever, China's mineral demand weakening supposedly, no announcements when they might have been expected a week ago (fear-creating), the OZ stockmarket plummeting these last weeks (scary) and a few more reasons I have forgotten now - it's a perfect storm for Discovery Metals!
It makes sense (to me) that this dumping of DML has happened. Have a look at other copper plays - HGO,OZL, BTR and CYU to name a few - they're all at or near 52 week lows. This week should see the DML low IMO but down the track this producing asset will be more fairly priced.
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Tax loss selling peaking this weak, copper price at 52 week low,...
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