interesting that the valuation analysis doesnt scream out buy...

interesting that the valuation analysis doesnt scream out buy SAR yet it has been one of the best performers % wise i guess over the last 12-24 months and is still going

i really respect the effort that goes into such comprehensive information but i think the x factor that is so hard to quantify is delivery of results, meeting of guidance etc etc when a company keeps delivering time and time again there is a factor that creeps into the share price called 'expectation of meeting or exceeding future exploration and guidance goals'

this is a bond forged between management and the sharemarket that few companies achieve and is perhaps why some outperform the 'valuation' metrics or others conversely seem to underperform, despite having all the 'valuation' metrics in their favour

i do my simplistic valuations on the back of an envelope with quick peer to peer comparisons but i spend more time and energy on the company performance historically versus the likelyhood of delivering future promises..

GLTAH