AWC made fresh 7-year lows on Wednesday, just a few weeks after a block trade of 50 million shares, 1.9% of the free float, traded at $1.07 – the seller is winning at the moment. We simply regard AWC as too hard, there are better quality miners on the ASX paying healthy dividends to consider AWC until further notice.
- We believe that AWC is starting to offer some value ~$1 for brave/aggressive investors, but it’s not for MM at this stage.
MM is neutral AWC around $1
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