Where is the Bottom
When I bought Rex Minerals for the long term I did so hoping one day it would be a good source of income for my two Grand daughters as they progress through their various stages of development .I only just wished my grandparents would have bought some BHP for me . I bought my first parcel of Rex almost 2 1/2 years ago around the $2.50 mark Oct 2010 . I bought another nice parcel at $1.70 October 2011 to average out .March 2012 decided to average out at @1.20 and bought another sizeable parcel. June 2012 an even bigger parcel at $0.90 and yes Nov 2011 couldn't resist the 66 and bought more. From there they recovered to $0.90 cents and I thought I was very clever. In the mean time they have fallen ever since without any signs of a recovery . To be honest I am flat chat out of funds to buy anymore or to average out again. When they hit $0.58 cents today my heart just gave a nervous twitch.
For all intense and purposes we have a stock that has everything except for the price on the board.
So currently Rex was sitting on $0.58 cents for a while today and are in my opinion undervalued , $112 million @ 58 cents less cash $62 million = $50 million in the ground.
I have no option now but to classify my holding as long term as I could not sell at these prices. I just hope the company come out with something to stop this share price avalanche the sooner the better. It was disturbing to hear another poster saying that one of the top 20 holders was averaging out as well to the detriment of the share price. They have the funds to take advantage of this situation I guess.
So when is the bottom on this stock going to happen , when is the level for recovery for such a success story , no one will ring the bell when it happens so we can only put our faith in the Rex Directors who must be fully aware of this situation with some more feedback to reassure all is well.
Meanwhile my two granddaughter are still too young to go on a spending spree just yet so I am safe for a little while longer and I will just hang in there for them.
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26.0¢ |
Change
0.008(2.97%) |
Mkt cap ! $199.6M |
Open | High | Low | Value | Volume |
25.5¢ | 26.0¢ | 25.5¢ | $100.8K | 391.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 26.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
26.5¢ | 275051 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.260 |
14 | 667813 | 0.250 |
2 | 194000 | 0.245 |
8 | 198753 | 0.240 |
5 | 55974 | 0.230 |
Price($) | Vol. | No. |
---|---|---|
0.265 | 275051 | 5 |
0.270 | 142500 | 2 |
0.275 | 213571 | 4 |
0.280 | 429903 | 9 |
0.285 | 21000 | 1 |
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