LSA

LSA had a placement for 82c per share with a warrant for another share at CND$1.20 per share. Somehow the market (or rather some idiotic sellers) didn't like it. When it fell to 78c, I topped up. But when one seller appears at 70c, it was like red rag to me. Within a short while, I bought more at the low price.

This is a company generating huge amount of revenue relative to its market capitalization. The PE ratio is so low that it is almost a joke for a gold producer. I must be reading my figures wrongly or the market is totally indifferent to small gold miners.

Today, there is no seller below 78c but the buyers are not offering over 70c either. Inshallah!

Have a read of this article which I have posted before (now even better value for money due to fall in share prices, falling AUD and rise in POG to over USD1700 per oz!):-

http://www.proactiveinvestors.com.au/companies/news/17920/asx-gold-producers-cga-mining-lachlan-star-dragon-mining-integra-mining-silver-lake-resources-17920.html