The transfer of monies has got to be a big catalyst, the market surely just can't ignore a company that will have $200 million dollars sat in the bank, with more to follow on the completion of the drills etc.
Unlikely maybe, but I would love to see the board state they were looking at ways to increase the share price, including stock buybacks. After raising money at much higher levels, then surely 15-20 million dollars buying back shares (under a particular price) would show that the board is actively looking to deliver shareholder value. I think financing for a 50% portion of the costs will be available through our partners, so this for me would be money well spent, whilst still leaving a big chunk for further exploration.
One thing for sure, it'll be an interesting few months.
Whole sector has been hammered indiscriminately. Patience on this one. No one knows whats going to be the catalyst for sentiment to change on this. It will eventually come. Keeping my eyes peeled for any nasty news though. Things can and often do change.
imo the next catalyst(s) are (in this order): - signed deal with luk/na (ie. money transfer) - bomono -> information about exact start of drilling - gsa with ferrostaal - bomono -> rns about oil find (not gas) - etinde -> rns about start of drilling
I'm not really sure what you mean by that. The price isn't moving up because no-one is buying. No need for conspiracies to explain that. As I said before, I don't know why they aren't buying as I feel this is very undervalued, but I don't see it suddenly changing immediately once the money is in the bank.
The book does look very offered, but its all rubbish at levels that are not going to trade in the next week.. If you look, the book is strong on the bids and there are hardly any sells apart for the 350 on the way up to 40.. smoke and mirrors.. that is all.
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