sub $1:50 as we go to press
that's about 7% divvy over the next few years IF earnings hold as forecast
still short looking for $1:00 now, or confirmation to reverse back to longs
I have heard that they have enough cash that equals $0.75 a share...this must make this the bargain of the year??
don't care how good it looks on the info they have told us legs, the market says <$1:50
but yes, cash assets of $147m, for 194m shares
quick ratio a very healthy 0.95 (for a miner) (BHP .65)
You called this one right TF a few weeks back, I'm currently 20 percent in the red even after hurdling in!.
Watching closely for another double digit downer on open tomoz.
I wouldn't expose youre **** too much on this one though...... situations like this are exactly what caused the wealth gap in the first place.
Hope alls well in Broken Hill
hi freeballs,
had another look at this one and have now removed my shorts as it settled back there at the 150 level again (sitting here in just my jocks now)
the 150 level is the third and longest fib extension and I think will be hard to push down from here without first an exhaustion retrace but hell, market is nervy and anything goes
didn't do well today at all today considering others but vol not high and buters/sellers are even for now
will sit this one out until things are more indicative
Exited half my recent trades today in PEM, same with ZFX, happy with the returns.
More upside to come IMO, especially with PEM. so holding the rest for now
Got some PEM today at 1.6. Better return than cash sitting in the bank and that assumes the company goes nowhere in the next 12 months. Huntley's still have a target price of, wait for it.......3.55 PS. We all know that's crazy for today's market but I still feel it's undervalued. The clincher for me was that I noticed PEM had one of the highest dividend yields. See my post on finding companies with high Dividend rates.
Finally have noticed a bit of resistance recently so it should't be long before more buyers jump in.
PEM's div yields are O.K. but I think more importantly Management needs to pull there head in and form a constructive production profile/targets for the Company over 08.
Finances arent an issue so this is not an unreasonable ask IMO.What PEM does with HER's profit and cash reserves short term is essential in the aforementioned, the market will savage them if they squander this cash position or pay some silly divy just to keep pundits happy!.
ATM I'm back to a sensible holding in PEM (over exposed myself of late). Like you Tronic, I see value in PEM and if they retest the lows again.......... I will hurdle in
Cheers
work is rife with rumours of something with CBH,Met a bloke from WA over to start employment down the north but has been told to sit for a while until things are clarified. I thought todays leap forward was about CBH.....
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