We need a permit submission before we see any real trading strength north of $3.00 ... which won't be until Oct (or even after the election). Between now and then, I see NAK hovering around it's $2.30's support level, with a possible breakdown into the lower $2.00 range after the Peer Review Panel convenes in early August .... which is when i may add to my core position again.
I disagree. This is the cheap call option in the history of mining. Unlike other junior miners, Anglo is funding the first $1.4 billion. No existing equity holders will not get diluted. The resources in the ground make this a $50 stock. I am arguing that a farsighted Chinese company will recognize this and the disconnect between intrinsic value if this were permitted and today's price of $2.45 will close. This is a "rare" deposit given the sheer size, byproduct credits, and potential length of operational life.
No question about it ... very underpriced at these levels considering Pebble's intrinsic value. Just don't think we'll see much price movement until Pebble goes to permit, and we get past the election.