RE: Gotab16 Oct 2016 12:44
Cronies? I couldn't be more independently minded mate ...
Low 20s looks on as the upper reaches of a first leg move if and when she starts to move up properly going by my techs and others who look at the fundy side think that sort of valuation ties in with the cash situation now and going forwards.
We've got the next trading update coming up real soon and, possibly, a turn on PMs to mark their next leg up in the same sort of timescale and in the meantime, as with all things that are real, she'll flop around somewhat until a final "decision" is made by the market that she's good to go ...
If she's not at least worth a look, if not a buy, at around 8p then I'm all ears for those arguments but with the tax bill paid and the $400 costs the cash is already piling up and a longer term move by PMs over the next six months or so could her see attaining a PGMs basket price north of $1000 which is some serious margin ...
No debt, anti-dilution via share buybacks, and a doubling of money per ounce even at the currently depressed PGMs price - that's a situation that LMI can only dream of right now ...