The market understands what many investors don'tWe continue to read posts by those who cannot wrap their minds around NSU's poor stock performance. Many go to the absurd to explain the stock price, with conspiracy theories of market manipulation, other companies trying to buy it on the cheap, etc. The simple fact is that Nevsun over the years overpromised and under-delivered. NSU investors are lucky that metals have performed so well or NSU stock could be priced much less. If metals tank then you can guess what NSU will do. And don't hold your breath that Lundin or another company badly wants Nevsun or the Timok mine at these prices.
Many investors originally thought Bisha would pay for Timok. Don't count on that. Now many investors are worried that Timok will be more expensive and take longer to complete. If Timok is a huge success then NSU shareholders will surely greatlybenefit. But skeptics of NSU have been proven right almost every step of the way. Shareholders who think NSU shares deserve a higher price often seem delusional and are hoping more than looking at it rationally. It's as though they have become trapped in a failing narrative.
It it doesn't mean NSU doesn't offer great potential. But it seems to me that the market is treating NSU more than fairly. If the metal market turns south then shareholders may even long for the current price.