It's a good point that it is becoming more of a takeover prospect by the day if the SP languishes at these levels. Clearly the SP is around the lower end of fair value based on cash/current operations. It's tempting to sell my holding and put the money into more metals where most of the spec money is. If they were drilling for uranium, zinc or nickel the sp would be well north of $5, no questions asked.
I hold because there are a few factors that could propel them to $2 in the next few months:
Sugarloaf/New Taiton Takeover More Perth basin dev/exploration success Higher oil price due to increasing ME instability
and a few things that could propel them towards $3 in the next few months:
Yemen Early success in the Canning Basin Any combination of the above
I have confidence in management and the exploration team, I think they have good strategies and just need a bit of luck, at least 1 out of 10 should come in and they are drilling about 20.
ARQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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