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Originally posted by sullster:
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I keep buying stock on the way down but it just keeps falling we are looking at sub 5CPS now and im scratching my head for any real reason behind the sell down here. I know its monsoon season and things are quiet on the drilling side .Also There is some civil unrest but nothing really new .With already a massive indicated and inferred resource been announced that is open both ends and unknown resources deeper .We have cash in the bank and a strong management team but people are still happy to sell the stock down to these levels .I know These trades are all tiny volumes but we have seen the price ever since the CR at 6.5 steadily go south .MYL now has a market Cap of just 80 million dollars which is ridiculous for what we have in resources and cash .Everyone keeps saying sovereign risk but really the sovereign risk in this case is being blown way out of proportion its far better for the Govt and country of myanmar to see this kicked off .Am i missing something here as on the fundamentals this stock should be at least double what we are at now .
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I agree that the share price action is somewhat baffling but not totally unexpected on lack of new drilling numbers. It should bottom out once all the December options have been exercised and once another heavyweight financial adviser becomes involved as I do not rate Argonaut in that role. Perilya adding to its position in early 2020 would be a positive as well.
Originally posted by sullster:
↑
I keep buying stock on the way down but it just keeps falling we are looking at sub 5CPS now and im scratching my head for any real reason behind the sell down here. I know its monsoon season and things are quiet on the drilling side .Also There is some civil unrest but nothing really new .With already a massive indicated and inferred resource been announced that is open both ends and unknown resources deeper .We have cash in the bank and a strong management team but people are still happy to sell the stock down to these levels .I know These trades are all tiny volumes but we have seen the price ever since the CR at 6.5 steadily go south .MYL now has a market Cap of just 80 million dollars which is ridiculous for what we have in resources and cash .Everyone keeps saying sovereign risk but really the sovereign risk in this case is being blown way out of proportion its far better for the Govt and country of myanmar to see this kicked off .Am i missing something here as on the fundamentals this stock should be at least double what we are at now .
Expand
Originally posted by sullster:
↑
I keep buying stock on the way down but it just keeps falling we are looking at sub 5CPS now and im scratching my head for any real reason behind the sell down here. I know its monsoon season and things are quiet on the drilling side .Also There is some civil unrest but nothing really new .With already a massive indicated and inferred resource been announced that is open both ends and unknown resources deeper .We have cash in the bank and a strong management team but people are still happy to sell the stock down to these levels .I know These trades are all tiny volumes but we have seen the price ever since the CR at 6.5 steadily go south .MYL now has a market Cap of just 80 million dollars which is ridiculous for what we have in resources and cash .Everyone keeps saying sovereign risk but really the sovereign risk in this case is being blown way out of proportion its far better for the Govt and country of myanmar to see this kicked off .Am i missing something here as on the fundamentals this stock should be at least double what we are at now .
Expand
