Robster , don't know about that but do some research on PPC , they have an honest BOD , good men at the top and are on the way to opening up Paraguay. Compared to this heap of crap ( which is only good now to post remarks on ) I think it is a genuine long term bet. Btw , ref our long history of posting on this board , do you remember that bloke from Ireland who was always singing its praises while we were moaning , he just seemed to disappear from the scene suddenly. Unless he was a ringer ( I think not myself ) , after it went tits up he must have been too ashamed to post again. Either that or he committed hari kari.
...as a stragegy for AIM oilies, having a list of companies that are awaiting results for a deep drill or any sort of company-making-drill and waiting until an RNS comes out saying "success" and then buying shares as soon as the market opens? I know this misses the boat to some extent (where the big gains are) but I have noticed that not all shares at this point peak immediately. For instance RXP took about a week to go from 5p to 20p on news of the big find, giving plenty of time to get in there. RKH and GKP showed similar patterns. MXP did for the shallow find at Uytas (took a whole day to peak). So is there any scope for waiting to here good news then getting in there? Gains would be less but so would the overall risk of losing £££.
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. ;-)
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