Thanks regarding SRK, nice little gain from $1.40 when I was shouting at everyone to get in. More to come from that front as well :)
With regards to your response regarding NGF, well I'm not an Accountant so I wont argue with your friend but I still think it doesn't say much as to why it is not cheap and not a good buy.
Just so you know, they're only hedged to the tune of about 40% I believe from memory and even at the hedge price, they are still making good money. Also, their current reserves are 10+ years based on 150k production alone at Padington, let alone Mt Morgan which another 50k per annum but from memory only has a mine life of 4 years I think.
Regardless of the below, I've done a lot of research and let me tell you that is hugely undervalued based on fundamentals alone.
Go ahead and pick on one of the others Katana but not NGF as I actually know a bit about it lol (maybe not as much as your accountant mate but more than most I believe) :):):)
Why is the price down, same reason as everything other good stock mate so we wont go into that one. Does that mean its crap and not good value or cheap, absolutely NOT as I have pointed out here with NGF alone and many others with TMR etc.
HOWEVER - I do agree with you that HC needs to bed down the IBR acquisition and Armenian project......We need to see results from this project now and not just all talk!!! Time for HC to show us why infact he was keen to buy IBR, enough talk show us the goods now!!!
Good Luck
TMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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