RE: Target Price / Exit Strategy25 Sep 2020 10:03
Hi Manwell, here's my entirely untechnical take.
I invested in the spring on the Covid drop, noting the very unusual and massive raise at .9p to fund mainly WN with a dash of Parta. Corallian and Cali were of no influence in my decision.
I fully expected the SP to be close to .9p now, but the fact it is not is almost certainly caused by the purchase (at a very good price) of Humber's one sixth stake in WN and the sale by Humber of some of their 350million Share allocation. I assume they need some cash now for other uses.
For me a return to .9p would be a very useful result. I have had / am having a very bad year business wise and my strategy will involve a staged exit. Anything over a penny will be grand. 1.5p will probably see me largely out but going on my past performance that will be a key driver for the SP to jump to 3p. I really am that lucky!
All the detractors here are really benefitting from the 'probably Humber' selling. If that was not happening this would still be in the .7's. There is a time gap now whilst drilling takes place for things to drift a bit. I expect that in few weeks some further serious buying will commence. Volume is not big at present. There is scope for a 'safe' 50% rise from here pre-results.
So in a word.... 1.5p will do me, but it in no way reflects what WN will be worth on a successful drill and really is driven by my personal circumstances.