start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

I say things on Twitter

1/17/12

When travelling you miss all the fun

For example, the belly-laughs and guffaws I would have had if I'd been round this morning for the action in Exeter Resources (XRC.to) (XRA).The funny bit wasn't its pre-feas publication that offers the market a project that'd cost $4.8Bn for an IRR of just 11.5%. At that kind of of return you're competing with T-Bills, not other mining projects.

Nah, the funny bit was seeing it bid up at the opening bell. My, how I would have laughed at that move, imagining all the Canadian anal ysts spinning the unspinnable to those they'd already got long the stock. Better screentime entertainment than anything Simon Cowell could cook up.

UPDATE: Just seen the GPR.to 4q production numbers too! Chortle chortle, but at least Mr.Market had the decency to not bid those up...much.