thank you both for your kind thoughts. Unlike you both I wasn't prepared to throw good money after bad as it were so missed out on averaging down. Bugsy , you must have bought a shed load to get it down to 1.9 p and that took some guts and risk! I suppose this one and Range Resources put me off AIM completely with all the fiddles going on. Thankfully , I ring fenced my pension monies and apart from PPC which has a good honest board seemingly , have not put any new money into AIM. I think you will agree that a lot of folk have now cottoned on and the days of the ridiculous highs ( RKH as an example pushing up to 500p plus etc ,etc) are now over. Mind you everything goes full circle when the next load of saps come in , but I'll be too old to care then!!
catfish, hope you are well. Seems that most of the 'old timers' have moved on. Well done with PPC, moving up swiftly. Poor Logical, we will have to have a whip round for him when we cash in our chips. Lesson learnt here, thankfully I managed to break even but lots of time invested. Always makes me smile when a company has a placing which is over subscribed and pi's taking it as a signal that the sp cannot fall below the placing price.
Sorry guys for going off topic here, but I am sure at this price, risk v reward was better than my investment at 18p a share.
Feel for you catfish ,,,my 1st buy on MXP was 26p , was 10k up at 34p once if I recall and stayed in all the way down on the initial 1p fall....that hurt however I did go in heavy and got my average down to 1.9p over the years and lucky for me it paid off and I managed to exit on that last spike selling out me entire holding at 2.05.
I hope for all of you still invested it does come good.
Robster , it's been a long and much wasted time sharing our collective woes in this heap of crap. I've so little worth here now that I'll just let it ride along with the rest of the mugs. GL in your new investment. I agree with leas about honest BOD's which is why I personally invested in PPC , it's a rare event for me , it seems to be paying off!
Yeh I agree with what you said about the SP declining once people realise what's actually involved in developing a deep find. I saw the same thing happen over at RKH and GKP. Don't worry I'd be getting out well before then. ;-)
Robster, was teasing a little, but cannot argue if's and buts. However, do not see RXP's discovery as a massive advantage at the current sp. You only have to look at HUR and see their sp decline on the realisation of developing the commerciality of a discovery. I have had a punt with MSMN as the BoD come across as honest. Yes, honest and only too happy to keep investors updated. Not only that, they are resisting the temptation to run before they can walk, which MXP should have done. Always stated when invested, a mistake going for the deeps, develop the shallows.
I see the spread on here is deterring pi's to invest. We are all at the mercy of the big boys. Good luck with RXP, we will see how all this pans out in the next 12 months.
I don't agree that MXP offers better returns than RXP. Theoretically...maybe. But it's like saying I should buy 1000 lottery tickets instead of buying £1000 of RXP shares because I can *theoretically* get a better return from the lottery. But the odds are vastly against, and I see MXP in the same light. It might multi-bag but the number of things that need to happen seem so unlikely to be successful that I've essentially written them off in my mind. Roxi have a deep find on their hands and it looks likely to be commercial. Max have nothing but a partial hole in the ground that they poured all their money down and got nothing in return, and even if they manage to find more money down the hole and finish it, the chances of a commercial find are less than 1 in 3 anyway. Plus there is no confirmation that AGR Energy are going to invest - with oil prices crashing you have to ask if Max can even pay their way at $80 a barrel. AGR might decide not to invest simply because the return is starting to look shaky. Too many risks and too many unknowns here. I'd say there's a 50/50 chance of Max going in to admin within the next 12 months. That's why I sold!
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