UPDATE on Cosan: Gotta laugh. I’ve just found out what was behind the move in CZZ. Yet again it just goes to show that you can identify all the value you like, but things only happen when the sheep catch up. Or in other words, Citigroup called CZZ a buy today. Here’s the moneyline:
The market “has yet to realize” the positive impact that higher sugar prices and a weaker local currency will have on the sugar producer’s cash generation, said Citigroup analyst Tereza Mello in a note to clients Friday.
Minera Andes (MAI.to) UNCH at $0.65. I opened a space for this yesterday at 63c and might buy some more now there’s a decent cash position in the trading port. Short-term trade envisaged here. DYODD.
Exeter Resources (XRA) (XRC.v) down 8% at U$2.78. Oh dear. How sad.
Fronteer (FRG) (FRG.to) down 3.4% at U$2.29. Another offering tremendous value. You have to think that the stock is sleeping on the news today, as this Sandman JV project with NEM is now clearly a possible mine in the making.
UPDATE: The nice people over at the stock exchange offered me U$2.25 on FRG. So I took it. DYODD.