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Happy Birthday both & I hope you get the present you're wishing for.
The end I guess
BDT, first good luck and I hope all improves.
Thanks for trying to get the BB back to discussing PRD and its merits and weaknesses.
My candid view is this:
The technicals I actually have few worries. I researched the T&T stuff, and also Morocco, in a lot of detail. I think it is a unique opportunity and that PRD is not a one trick pony. I bought in at 2p and then (unwisely as it turns out) averaged up to 5p which entertainingly is where we find ourselves without top slicing.... the technical side is about patience and I do not have sleepless nights about it.
The management side, this is where I think the company could fail. I bought in at 2p when there was a rather odd looking convertible loan going on and it looked as if a death spiral was possibly setting in. I judged that the assets alone were worth that and the technicals looked very good . Now I see another set of unwise corporate finance style decisions, unplanned (apparently) bucket shop placings, director sales and what appears to be a lack of strategic comms. This side of the company seriously worries me and I am concerned that the there is a lack of professional advice and strategic/ scenario planning going on.
Yup Trinidad is the main thing here. The Morocco sideshow is a bit of a distraction. This deconstruction of an RNS is like reading tea leaves and people read into it what they like. The market has certainly read it as a duster, I personally disagree. MOU-1 has proved the gas and at depth and provides the confidence to go for MOU-4. I think the plan should have been clear from the get go then we would nt have this panic and, in my opinion, overselling.
Quarryman1 Hi, in a similar position but came in at 2p and averaged up to 5p. What is most attractive is the possibility of special dividends i.e. say 50p a share (just making up a number there) when pieces of the business get sold (most likely keeping a stake). So share price is not everything.
I'm kind of nervous naturally, but I've done my calculation of risk and reward and I'll top slice if the short term price gets to what I think it's worth pre-results. Otherwise I'm sitting here. I actually find the Trinidad stuff the more value and more interesting long term.
You should be completely comfortable with the risk and only invest what you are cosy with doing.
Ok, thanks for humouring my bemusement JH and Joey. That makes sense. I'll hold I think and maybe top slice, but I'd want more than 15p.
The placing strategy seems a bit odd, if they advertised to this board or asked us to register with broker then I'd have thought of buying some. Mind you I don't have 1m spare, but between around fifty of so smaller investors they'd have it without the flipping. I suppose its too much effort for the broker.
A sort of dumb question. We have all this activity and potential. Spud, then results, I'd be expecting the share price to rise as a bunch of hot money descends at the last minute. Instead we have a decline?
The placing looked tiny and well judged.
Just a bit bemused. Am I missing something obvious?
A sensible small raise - a minor pull back. All looking very good to me. The next few months should be exciting.
This short-term volatility is rather exciting, but its worth looking at the long game. On this board we focus quite a lot on first world problems, will Tesla use BTC so we can buy fancy cars, whilst ignoring the third world. Many disfunctional countries with worthless currencies and prone to inflation, corruption, and for whom crypto offers a path to de-nationalised money that is easy to store securely.
In countries like Turkey (hardly third world actually, second world maybe?) inflation is 15% upwards and where do you put your money? BTC, and ETH, DOT? etc will in 10 years be the store of value for millions of people.
Re ARB, its a simple way to be "in" through an ISA and just hold it. This day-to-day stuff is just noise.
I did nt mean to cause any offence re my "it'll retrace a bit" comment. I'm genuinely grateful for this board and the comments. I could very easily have bailed out a few months back for a flash-in-the-pan share, instead if this gets to 80p or thereabouts it'll be life changing (probably small beer to some on here) . I'm here for the long run, I was just musing I suppose that the worst that would happen would be a short-term retrace to a floor, sounds like 13p, before it picks up again.
just to say thanks to the posters here. Bought in at 2.5p am very happy, but might have bailed during the long news drought and convertible loan stuff had it not been for the informative posts here.
This is still a good buy, below the radar and as news comes in will rise. A slight dip coming, maybe 10p even, as it consolidates and some traders exit or top-slicing happens.