LGO like many other Aim shares was/is just one giant money racket. Set up by 'businessmen' to make as much money out of us poor mugs with the false promises and dreams of making a fortune. While individuals milk the company dry and issue more and more shares to fund their lifestyles. ( remind anyone of a certain someone ? )
All legal of course ..the government have to look after their mates and their party donations.
There is still a major trust issue with the share (not surprising given history) but If the next news is another well drilled within target, decent flows of last wells and other rigs signed off I think the buy on news brigade will outweigh the sell on news. With water flood to come we could soon be the company most of us thought we were buying into. Time will tell.
Be aware of the risk of a 'sell on news' event even if any RNS is good, particularly given the recent largely unexplained rise. The key market participants seem to be keeping their powder pretty dry, huge spread 0.50-0.60 and the keen having their arms removed.
Celtic, I fully get your point about the timescales on the drill and I am wise enough to understand that minor delays are possible. I don’t think its unreasonable to be a little suspicious when no news is forthcoming. It’s only a few days but given “old range”, MD248 etc and the fact we hung the bunting out over the last 2 drills being drilled ahead of schedule makes me a little worried.
More than happy to see a gamechanger RNS with flow rates, TD, water contract or Sinosure deal.
It’s not necessarily a bad thing that the SP rise has taken a breather. Allows a new push when and if positive news is forthcoming.
Not sure now whether I want the RNS now with a Bank holiday Monday or to wait until Tuesday to get the full effect next week of any increase.
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