I pulled this figure out of the annual report which was dd June 2013. You could argue this has now increased even? I'm not saying say that we deserve to be 5p overnight, because we don't, but just trying to illustrate that I believe 1p is a very unrealistic SP. Looking just at the Texas sale, that's $30 (overall) which equates to 90% of current Mcap? And we all know Trinidad is our main asset, and currently that along with Georgia/Putland/Colombia/Guat etc is being valued at $4m?! Just isn't realistic. Obviously funding is currently a major issue, if/when this is sorted we will see a rerate. Bounty, my average is a little lower than 2.5 so I'm just fine with mine thanks.
Have to admit i was hoping for a spike down as sold Monday morning right on the opening bell at 1.01 as was expecting the usual over-reaction to anything perceived as negative! You won't find me suddenly posting 'going down to 0.2p' though or any of that rubbish :) Still all comes down to obtaining some funds and where it comes from and how soon. ATB
Out of interest, where does that valuation of assets come from? Am guessing it is a figure based to some extent on reserves and of course they are only of value if they can be extracted economically and at a sufficient rate (i.e. how many years will it take to get back your money if you were to buy the asset) - which is why it is so important for things to really start happening in Trinidad. For example, SER had reserves which were being valued at around $180 million or something like that!
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