Club Mulgoa

Sunday, October 14, 2012

MAT

BOA just listed and flew from 20c to 64c within one day of trading, last week.  Why?  It is about 4km from the super Nova deposit that SIR discovered recently.  SIR has gone up more than 20X recently.

In the meantime, bigger tenements around SIR have fallen, together with SIR (still high of course).  One stock that I own is MAT, bought not for its nearology to SIR but for other reason.  It has plunged down last week... yet the market is prepared to pay more than 200% the listed price for BOA.  Can anyone see the logic?  The broker has under-priced the float!  Since I am not privy to those shares, I like to think that maybe MAT is much better value than SIR or BOA now.  But it has to drill and FIND nickel before the market re-assesses its worth.

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