The recent stock market crash has many of us rubbing our eyes at the share prices of familiar stocks. A case in point is Asiamet Resources, Indonesia focused Copper / Gold explorer/developer, we are looking at a company whose market cap has sunk from over £100m to around £9m currently.
By Zak Mir
Rather intriguingly the company has recently intimated that it is close to finally completing on a deal to bring a strategic financial partner over the line. Perhaps this could be the catalyst for a revival in the share price, which is currently extremely oversold on the RSI scale – sub 20 out of 100.
While many stocks in the market are at such extremes currently, given the way that Asiamet is in a position to take advantage of a projected Copper deficit in the market, it could very well be that if the market as a whole bounce, Asiamet could be one of those small caps fastest out of the gate.
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned