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Based on the data from the drill reports to this date doesn't justify the low mcap. Hopefully, the wet season ends by end of March and further drilling can commence and some news on a JV would be nice.
Buy on rumour, sell on news - remember that.
Here's what you could have done here as an example.
Buy 1,000,000 @ £0.0130 = cost £13,000 plus buying fees
Sell in tranches to cover your initial outlay of £13,000 and take a small profit:
Sell 1: 250,000 @ £0.0200 = £5,000
Sell 2: 250,000 @ £0.0210 = £5,250
Sell 3: 150,000 @ £0.0205 = £3,075
Profit: £315 less buy/sell fees
Shares left to ride free: 350,000 (you have to judge the top long term and that requires research but let's say 0.30 for argument's sake - also sell before the top as it may be harder to sell when everyone else is trying to take a profit) -
= 350,000 x £0.030 = £10.500 banked!
We're in this boat together, and some of you guys are delivering some great news delivering shipping data and most of you are delivering finance data. But the fact is, we will not get any proper news until provided by ENQ, period...
And the proper news from ENQ is, we will PAY OF OUR DEBT'S first as stated by their financial reconstruction 2016 .
The SP will increase accordingly during 2020 while the debt level will decrease, but levels above 30p are for next year.
Let me level with you, a company like ENQ will not gamble. Not with a CEO holding such a large stake in the company.
This year is another consolidation year and rightly so. 2021 is another ballgame and I will buy/sell during this year but for next year I will compound a massive amount of stock in ENQ both In the UK and in Sweden for my retirement accounts as an added spice to my portfolio
Great analysis Casper. I first bought in based on my analysis a time ago to do a quick trade. As the data and analysis unfolds, I have changed my strategy on ORCP to buy and hold. This will be a keeper in my retirement portfolio.