Asiamet Resources (ARS): Into The Bargain Basement Zone?

Asiamet-Logo-Orange-Copper

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, the Indonesia focused Copper / Gold explorer / developer, we are looking at a company whose market cap has sunk from over £100m to around £9m currently.

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 bounces, Asiamet could be one of those small caps fastest out of the gate.

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Author: Zak Mir

Financial commentator, interviewer, technical analyst

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