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Originalharrystamper, thank you for your post and exactly it’s about not being greedy and in TOM I was, I’ll now be lucky if I walk away with my original investment without profit but yeah exactly it was greed that got me, I should of known better really! This I have bought at the real low levels averaging 0.42p I think this could well be my best share this year want to try and stay here until news unless we rise with no specific news and then I’ll sell and try and buy back with more shares
I should have added - be prepared for fluctuations in current SP though - it may well go South so MMs can get shares prior to positive news or it may go South because they have got wind of negative news. I believe the current SP is a true valuation of where we are at present; I am prepared to see a fall of around at least 50% if ratification is denied but consequently, if ratification is achieved, this’ll spike way higher than the actual true value it’ll settle at afterwards so being in now is well worth that gamble for me
Sam, we seem to be in a couple of the same shares. I’ll message you on here rather than TOM as my post would no doubt be lost on that BB. If there’s one thing to take away from any piece of advice you could ever be given it’s this; only hindsight will tell you whether you made the right or wrong choice. In the case of TOM, I think you know you made rash decisions but only because of hindsight. If it had dropped after you sold yesterday you would have been happy with your call and profit. It is greed that makes us hold for potential bigger gains when the sensible thing to do is walk away with profit. Any profit made is a good investment made. I have been very lucky over the last couple of weeks - simply with perfectly timed buys and sells of QFI and TOM, both netting very nice profits. But even after selling I to wondered if I had sold too early and then thought, ‘what if I had held and got more’ - hindsight told me I made the right decision. I bought back into QFI a couple of days ago thinking it was ready for another rose then sold the following day for £80 loss after I re-evaluated and chose TOM instead - a very good decision but one that I made profit on only because of the way the SP was pushed up yesterday and today. I sold at 1.20 and like I said earlier, I immediately wondered if I had sold too soon. Then I told myself that I’d doubled my investment and to stop being a fool! Profit is profit. And very good profit is great. I could have sold at any point up to 1.20 and been happy with decent profit but I wanted more and was lucky - again, only hindsight tells me this. What I’m trying to say Sam is that you should treat investing like gambling - only invest what you are prepared to lose, cashout with profit if you can not most importantly, don’t chase your losses. CLON is now my positioned gamble. The money I’ve made in QFI and TOM allows this to be a very derisked investment but it’s still a gamble as my overall profit goes down if this goes down. I have the luxury of being able to cash out if I want to but only hindsight would tell me of that was the right decision. This investment to me is all about Ghana ratification of Tano. A pure gamble. If we get it; BOOM!, if we don’t, your current investment would drop significantly. For that reason - either stay the distance for positive news and an absolute multibag payout or sell on a decent rise that may be brought about with no material substance - like TOM today.
I agree with that, if anything working from home is more efficient; less distractions and less time wasted travelling. Maybe they are meeting today or over the weekend, sounds imminent (sooner than you think).
Yes, this is exactly what is happening in the world. All you need is a laptop! This isn't the 90's when you sit in a room with cameras facing you or you need to 'loop someting up'. How do you think business is currently being conducted and deals being closed? Or has the world stopped doing business and concluding contracts?
In fact this is nothing new, business has been conducted this way for years, C-19 has just served as a catalyst to prove the point that remote working and remote business is viable and there is no need to travel.
Teams, Google meet, Zoom, U meet, Fuze, take your pick! Quote "According to a recent Microsoft blog, Teams has seen a new daily record of 2.7 billion meeting minutes in one day, a 200% increase from 900 million on March 16. In March, video calls in Teams grew by over 1,000%, according to the blog."
It's the new norm, you don't need to be physically sat together to progress a conversation or conclude an agreement.
Maybe I am wrong in this particular case, but in terms of the general trend and how negotiations & business are currently being concluded, I'm not.
Anyway, let's keep fingers crossed that things will be progressed (in one way or another) in the next few weeks/months.
So let me get this right if you have high level meetings planned and they're cancelled subject to the pandemic I'd imagine someone suggested a video meeting? Ummmm sorry can't do that we don't have the technology!!! Makes no sense!
"In September 2019 Clontarf agreed that it could proceed with that portion of the original acreage that remains available – with the balance to be added when it is relinquished by Erin Energy (now in Chapter 11 bankruptcy), in accordance with law."
They reference this in APril 3 RNS:
"There now appears to be a legal structure enabling the authorities to recover 529km2 of the original acreage Tano 2A acreage "
so they agreed already they could start with that first and then the remaining area would follow/deal done that takes a longer time
So some sort of deal yet to be done on remaining area "adjusting the revised coordinates and any other finetuning necessary" As CLON licence was issued " fiscal terms agreed were before many of the Tano discoveries (other than the original Mahogany – now called ‘Jubilee’) had become public" its reasonable to now meet in the middle on a deal.
But 529km2 of Tano basin is a fantastic asset to have now and prospect of more in time.
Current Ghana policy is a total ban on entry for all foreign nationals other than those with a residency permit or diplomatic status who must quarantine for 14 days on arrival. So being Irish makes no difference. An update on this policy is to be announced on Sunday, so maybe CLON have been given a heads up in advance on this, we'll see.