We all aim to buy undervalued stocks. Sometimes the market disagrees on what a stock is worth, and we have the opportunity to be proved right or wrong. The dollars spent proving up any resource are just gone. All that remains is the value of the resource. If it is a duster, that million is now worth nil. In the case of TAP, except for the African assets, which are of indeterminate value in my opinion - so zero, we have a company that got hated after the Apache fires on Varanus, and is on the comeback trail, that retains very valuable assets, and assets that can be valued. So I am happily a holder, at a price I consider low for the assets. I was a tad disappointed that starfish did nothing, but it was always the cream. This company has a raft of predictable, reliable dollar generating projects on the horizon, and the day will come when the market agrees it is too cheap.
TAP Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
