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Had a nice little trade today on ASX. Bought at 2.3 c Sold 2.4 c . Then realised there are 2 more Aim sessions before ASX re-opens & I think this will be a bit higher by then. Never mind - grab a profit where you can nowadays.
GLath
Thats how AIM works.Repeated dilution on the hope the company goes into production or sells assets.Yes it takes time but we are very near to that potential scenario.AIMs not for the fainted hearted!
Only interesting bit:
subsequent incremental increase in the well cost due to high grading of the quality of the evaluation program
My interpretation being we may want to spend more time and money assessing the shallower targets.
Closed at 1.3p in Oz.
Should be a blue day ahead in London.
5 years of dilution and keeping DW in a salary, positive is, the lights are still on, just!
We all hold for the pot of gold at the end, hopefully a sprinkle of PMO magic will work this time!!
2.5c...looking ok up to now...airport run for eldest and his mates off to Thailand & Vietnam for a month lucky bstards
2.4c in aus...7.69% down....not too grim....onward and upwards....morning gang blue day ahead hopefully
Lol...yes
Prose
Ur decimal points are a bit awry - .24 AUD ? lol
Now trading at 2.5c on ASX. (1.3p)
ASX price is back up to 0.24 AUD which is 1.3p.
If the 88E ASX price closes 0.24/0.25 then London will have a blue day today to catch up.
~~~ Now 3.85% down .
Signing off until the morning in the UK .
G`nite Blue !
I see that you are only 7.7% down now at 24/ 25.
As i mentioned on a couple of occasions , i think these II`s and `SOPHS` have probably already traded the hell out of this as witnessed by the 150m volume spike on 21st , with an associated c. 10% fall in the sp .
Perhaps they`ve woken up to the possibility that the price will increase prior to spud , and will offload any remaining balance a bit further down the line . I can`t say that over the years these sort of people have impressed me as the sharpest tools in the box , often just as another tool in a bigger box ( ie ; they have the ability to manage events with the support of significantly greater funds than ordinary disadvantaged private investors .)
From what I can see about your trading today , things don`t look too bad . Let`s just hope that any price reduction is very short lived .
Regards V111JAS .
You too mate, yes hoping for the positive result in the end game I guess. Good luck to you. Hoping he keeps a cap on the cap raising for a bit but have my doubts!!
Wozzy ~~~ While resisting the the sort of colourful criticism that you have sometimes levied at DW I`m afraid that as the years have passed I have become less and less enthusiastic about DW`s leadership .
At this point in time I feel we just have to suck it up and hope that everything works out well for investors in the end .
I really hope that events do not transpire to force me from my quiet corner in the back of the room , because I have plenty to say !
Good luck to you with your substantial holding .
Agreed V. Almost like he is anticipates nil oil and is gearing up to support his own salary over the next couple of years. Disappointing unexplained move that makes little sense.
To the best of my knowledge we have never had any serious Institutional base here .
I believe that arbitrage has already been effected . Hartleys will / have dumped as usual and within a week (perhaps less) we will advance toward spud .
Assuming DW is smart about the detail he releases as we drill through the seven various zones , PI`s , who are well aware that the real Target is at TD , are more likely to wait for confirmation of the full result in April .
All this has been an unfortunate distraction from the real objectives , and , regrettably DW in his usual less than exciting terminology has omitted to focus on any of the enthusiasm he generated at recent investor meetings .
It’s in the placing RNS that domestic and international investors and sophisticated investors participated in placing. Not sure about sophisticated investors but institutions are usually 5-10% profit takers; and it will take a while to clear $5m overhang.
Who / where are the Institutional investors here ?
ONE - of my criticisms of DW is his all too comfortable , unimaginative , repetitive relationship with Hartleys ,
and his `Sophisticated (LOL!) Investors`.
We know they will dump .
Anyone else Boom ?
Raising $5m is positive sign but prob is; spud is just few weeks away and usually institutions don’t expose their capital for drill result. That’s they will sell aggressively to offload shares for 5-10% return and secure capital. Unfortunately, I can’t see price is going higher than 1.2-1.25p. Need to wait for drill result; if positive drill result from shallow zone then price will rise 2+ but if bad news, then rise likely to drop 40-50% to 0.50-0.60 and if oil confirm in torok zone; price likely to bounce back to 2+ ... till now: just wait for spud and drill result... don’t expect anything big in terms of share price