Is not only due to poor sentiment towards Commodities at the present time and worries about aggregate demand from China for the rest of 2015; it is also a reflection of falling Copper spot prices in the past 2/3 weeks although ; it was actually up this morning.
Nonetheless; the investment community will wake up when the Resource Upgrade is announced at some point end of August/Early September hopefully as Market Cap. of £6m does not reflect the intrinsic NAV of KSK let alone other elements.
In essence; the current valuation offers little down side risk in terms of risk/reward on a 12 months time horizon IMHO.
That the fall was peculiar to this, look at the number of mining companies which fell today, couple that with the Chinese Market falls and slowing down of demand for minerals. Also add the herd mentality.
Tony Manini's Aussie baritone oozes a "trust me" gravitas. The interviewer didn't bowl him anything unplayable. TM batted all questions away with elegant cover drives through to the boundary. In short: Jelai for sale, Beutong for later, KSK for now. Nicely nuanced coded language too. Cash strapped? No, just needs to deal with "the capital component". Tenure problems at Beutong? No, just needs "de-risking". Etc. Anyway, not hunkering down for survival. On we go.
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