Tell me about it. A few of us have been here for years, AIM is full of directors who are corrupt and/or incompetent. a Patrick is highly qualified and experienced and the focus without question has always been on protecting shareholder value. However, because he has been around for a long time with a company that has gone nowhere inevitably the market makes a judgement on likely financial returns in a sector where there is a huge risk of either quick death via dilution and running out of cash or the same process over a longer period of time. So far...Finland, Canada and Ireland none of the projects have been good enough to attract serious industry/investor interest. Periodically, we get new folks arriving and a brief spike and then it all fizzles out. Target 5 is an example. This was identified around 2 years ago. There is the possibility that the market will arrive too late and that Patrick and long termers will have the last laugh and the current list of projects helps generate a few winners and cash to accelerate the portfolio.But just how long will this take and as one cynic added on Doc's Twitter feed..'.Patrick has been discovering promising samples for years!'
I think quite a few of those large sells on Friday were actually buys. My T20 purchase of 300,000, for example, is shown as a sell. I purchased at 0.415 at which time the spread was shown as 0.4 -0.45. With more positive newsflow expected from SRES during 2015 I expect this share to be trading higher at some stage. I have purchased nearly 1 million shares over the last few months at around the 0.41 mark and all were shown on the record as sells. Patience needed with this share.
Smallacorns. If we had some inclining of a JV then it would help sentiment. I also think City of London are selling down their equity portfolio. This includes shares in TYM and SRES. The sooner they sell the better. City of London have changed their business strategy. This can be seen from their website.
The Doc-induced buys have disappeared and we are back where we were with heavy sells on Friday and more likely next week. I will dive in for a few at sub 0.4 if I get the chance, but it is starting to look like a damp end to the year and am not talking about the weather! I understand from Twitter that Doc is catching up with Patrick next week so we might get clarification on Cue and some of the other projects. If the PC and Doc double act was intended to create share price momentum then it hasn't worked and we clearly need a sense that something genuinely exciting is imminent. Target 5 or lots of gold will do!
Couldn't have delivered much better results, I suppose onwards to further testing before drill and then jorc? Extraction costs can be high and if a JV is considered, we need a very high percentage of ownership at $16
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.