This is a time for steady heads.We all know that sometimes...

This is a time for steady heads.

We all know that sometimes markets overshoot and trade on fear and greed.

The fundamentals here are very solid in my opinion to have this holding at 20 cents.

Fear in the absense of an anouncement this week and reasons others have given have brought it to around 13 cents.

Fundamentals are:-

(1) Offtake agreement with Glencore in place
(2) Steady revenue stream even in the wet season (see reference in Aegis report)
(3) Many historic holes not in the current resource
(4) Last Punchbowl results best hole ended in 1.5% Copper in the last 13 metres. Possibly indicating better grades the further they go down.
(5) Still to drill Airport Valley, best historic hole 19.5 metres @ 8.9% Cu (pretty sure it ended in mineralisation)

Numerous other points could be mentioned to support this very small market cap.

Last point is that the current share price would not even factor in Mt Kasi gold in Fiji.

So looks to me like a no brainer. It has to be a buy, but as always dyor and these are my thoughts and views only.

Flipper