I love a bit of out and out speculation. Why would you expect that? There's been no material news other than CER is seeking buyers for assets. The hedging news is good but likely factored in. The weight of debt is still a factor until assets are sold. Sure, it's trading below NTA but the NTA is mythological. As the ghost of Benjamin Graham would probably tell us, the real value of these assets is their book value, and I expect any asset sales to reflect book, not NTA. The good news is that CER's P/B at 0.60 which still gives us plenty of upside, but acute narrowing to book (or NTA) in the sp would be a surprise for me unless there's an offer on the table for assets.
Don't get me wrong, there ought to be upside here but in my opinion volumes will only rise once news hits of asset sales (of course, it also depending on the value to CER shareholders of the transaction).
CER Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
