I can't quite see what's going on here with the shareprice. Spudding is imminent - within a 2 week window between 22/2 and 09/03 so could be anytime after tomorrow.
Have been rereading the recent placing RNS and I think it has been misread. Nowhere does it say the placing price of $0.072 was AUD so without the A before the $ it must be taken as US$. There's quite a difference in exchange rates between A$ and US$ - A$ is 1.86 to the £ and US$ is 1.66 per £. $0.072 is more like 4.35p while A$0.72 is around 3.9p. I think this has been taken down to far.
On their results, which are done in A$ they are clearly shown like that so surely on the placing RNS they would have to have made it clear too.
sp reaction here today. Ok, the RNS was good, it wasnt going to rocket the SP bt ts yet another piece of the jigsaw and a company defining, a real transformational spud is due to happen any day now and the price drops sub 4p AGAIN. I dont know if its just the mms; miliing t20 punters for every last drop like KDR and TRP but this is madness now. 17 million market cap !!!!. This happended on trp when they drove it down to 3.5 and now 5p in a week but my god, this is so frustrating now.
After the placement I think we will be looking around 5p on drill now with a gradual increase throughout. I think the way they went about it has put a lot of people off. I was pretty annoyed that the earlier RNS's were saying Cambay was fully funded and Ron was banging on about this fact at the share presentation, only to drop the bomb shell a few days later and say the funding was to help with the Cambay drill! 10p on successful drill now and flow test hopefully if all goes well. The 20p+ predictions are wild in my opinion and paragons 40p by April... Sorry mate but you're in cloud cuckoo land!
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