Toyota has them, Flight Centre has them and now Colombia is having one. I’m talking about a Red Tag deal. These are deals that are almost too good to be true, and Petrominerales (TSE:PMG) is offering investors one of these fantastic deals. The stock is trading down around the $12.50 mark, which is a significant discount on all metrics (which I will go over in a bit).
Petrominerales is not innocent in all this, not by a long shot! Since the mid point of 2011, it’s as if it has been drilling exploration wells with its eyes closed (MARCO….. POLO….. MARCO…. POLO… OK DRILL). However, with each exploration miss, the stock has been punished far beyond reason. Exploration is a tough business and misses are going to happen…
To read more, see the full article here.
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