Far East Capital Newsletter
Chrysos and Portable PPB - making money out of assays
16 Dec 2023

In This Issue

Chrysos and Portable PPB - making money out of assays

Chrysos has been a flyer on the ASX in recent months, achieving a market capitalisation of $900m well ahead of delivering earnings that could support this price tag. Portable PPB is still private so there is no premium in the share price. That might make it excellent value at these current levels as it seeks to raise modest amounts of working capital.

Our markets rallied strongly last week as they sought to catch up from a position where they had been lagging. Hopefully that catch-up phase will continue into January, meaning a strong start to the New Year.

As we go into 2024, with US stock markets reaching all time highs, it is difficult to see what the driving thematic will be. Maybe it is just good old fashioned economic growth and that will be boosted by the dovish sentiment on interest rates. Markets should rise as a result, being in the inverse of what was predictable when interest rates started to rise. In the absence of some exogenous shock to the markets … a Black Swan event … 2024 is looking like it will steadily improve.

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